Gold has been consolidating in a descending channel for the past few days. If PA can have a retest of the upper trend line and show candlestick exhaustion at resistance zone a nice short side set to the psych level of 1825 could be played. If price can break the 1825 zone, have a retest, another short side sets to 1775 can look super appealing as well.
As...
Although the all time highs were just barley missed, it doesn't take away from the bullish fundamentals behind it. Over the past several weeks we have herd some of the biggest names in investment banking to billionaire investors who have been very impressed with the store of value BTC has been and have openly shared that they are heavily accumulating.
So with the...
Short term- Consolidating: potential symmetrical wedge forming. (Short term scalps to be had.)
Medium term- Bearish : Lots of resistance. Looking to see a pullback to at least 21.00 handle a 50% swing of the March low to the August high. If the lower trend line is respected and a wedge plays out a conservative long play to the 61% pullback of the Aug highs to...
Hello All,
Down with the dollar?
As we can see since the Covid scare the DXY went through a period of pretty extreme volatility. After the huge rally the dollar quickly receded to roughly 50% of its move, which aquatinted to 4.6% decline from resistance (103.00)to where support was found (98.3), and from their pretty much consolidated until mid may where we were...
After roughly a month of consolidation in a wedge pattern, WTI price action has finally broken out. A re-test of broken resistance along with a pullback to 50%,61% fibonacci retrace of the July 20th swing low to July 21st swing high with some nice reversal candlestick pattern would provide a nice correlation for entry. Larger time frame fibonacci levels also shows...
Hello all! Much love and respect to the fellow traders out there! The hustle is real and we out here getting it!
Anyways. Looking at aussie dollar short side set up. We've seen a nice re-tracement from the January swing hight to the March swing low. Weekly chart showing nice price action resistance at the 61.8% fib. Daily printed some nice price action as well...
Break of trend line, Macro fib level and market structure. Looking for price to retest the previous support area around the 99.50 area. Price has the opportunity to push higher as well to the trend line support. (This could line up well with the 99.17 level of previous support to turn into resistance). Break and close above the macro fib level would invalidate...
Euro Long Setup:
Price has creeped out of a wedge like pattern and into a less volatile environment. Currently resting on Weekly 78.6 fib level (swings from 2017 swing low to the Feb 2018 Swing High). There is a level of support just a bit lower at the 1.07686 that could come into play agin so the stop is set just below that. Target price will be the set near the...
Trade set up for WTI Crude Oil. Depending on how price reacts at the $20.00 Phycological number, either a long or short position can be traded. If price action prints us a nice reversal candlestick pattern, this could give us a conservative approach to the long side to around the $24.00 area. The confluences for this trade set up is a 50% fib level pullback of...
As Bullish as I am on BTC, we may have a bit more short side pressure. Starting Macro on the Monthly TF, the Fib levels taken from 2011 swing low to the 2017 highs mirror 2015 swing low to 2017 highs on the weekly chart. Once the 78.6 fib levels are decisively broken as well as a weekly close under the 200 MA, this could be pretty dreadful sign for btc hodlers....
Hello All.
UPDATE.
-Still anticipating short side pressure for gold. We should keep an eye on the potential bull flag thats forming inside the channel too tho. Lets keep that in mind.
- Entry upon confirmation of break of support zone @1480 and Re test.
- Short side target to the 1445 zone.
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Potential shorting opportunities on Gold. If daily support zone(1487-1490) can be broken and retested would be a nice area to go short.
TP1: @ 1460 zone.
TP2: @ 1445 zone.
Confluences:
Price has bounced from the unshaded box @1510 zone which is the 61.8% fib retracment zone as well. Price did wick to the 78% as well. (Daily)
Price is below 20MA and 50MA, !00MA...
