XTIUSD| Short Multiple bearish Indications
Jan 29 2023 - UTC+2 21:00
BULLISH INDICATOR (JAN 29)
1. On 4 hour timeframe the price action is a bit sideways and was bullish due to pullback shortly
2. On 1H chart, short term bullish action was seen but from 1D perspective, price was in range and never broke the Significant Resistance between 82 & 82.29.
3. No major divergence noticed
BEARISH INDICATOR (JAN 29)
1. Bearish LHs and LLs
2. Moving average at 200 is on down slope and above the price action
3. Bearish downtrend noticed on multiple time frames (Daily and 1H)
4. Price as recently pulled from Resistance between 82 & 82.29 and expected to test the last significant support zone at 78.56.
5. On 1H chart, short term bullish action was seen but from 1D perspective, price was in range and never broke the Significant Resistance between 82 & 82.29. The Last LH was never broken even after multiple retests.
6. Fib Level Analysis:
a. From Swing-High of 92.91 and Swing-Low of 70.25, mostly price stayed in a box zone of 50% and 38.2%. Price to break, significant resistance at 50% but was not able to break it. Strong confluence between Fib and Resistance
b. Also 200-MA is between Fib zone of 50% and 38.2%. 2nd strong confluence
c. From the most recent swing high and swing low, price action has not followed Fib retracement, and Fib extension coincides with significant support zone of 78.56
7. On the 1H sideway price action, a Bearish ABCD pattern slotted as well
8. EMA-8/14 also signaling short position option
PREDICTIONS
1. Bearish trend is expected to continue with short term pull toward last significant Support zone of 78.56
2. A high probability of bearish trade option available. We enter multiple short TPs
BIAS 1 = SHORT - PLAN A, (@ Pending below the past LL at 79.06)
BIAS 2 = LONG - PLAN A (@ Market, if any significant pullback is seen after open of Market )
TRADE PLAN
———————
PLAN A: SHORT @ Pending Sell Stop when market opens
EN: 78.85 (@ Pending Sell Stop at 79.06)
SL1: 80.47
TP1: 78.30 - RR: 0.34 - Lt: 0.6
SL2: 80.55
TP2: 77.15 - RR: 1.0 - Lt: 0.7
PLAN B: Long (@ Buy Stop)
EN1: 79.806 (@ Buy Stop)
SL1: 78.28
TP1: 81.59 - RR: 1.16 - Lt: 0.7
EN1: ?? (@ Market)
SL2: ??
TP2: ?? - RR: ?? - Lt: ??
BULLISH INDICATOR (JAN 29)
1. On 4 hour timeframe the price action is a bit sideways and was bullish due to pullback shortly
2. On 1H chart, short term bullish action was seen but from 1D perspective, price was in range and never broke the Significant Resistance between 82 & 82.29.
3. No major divergence noticed
BEARISH INDICATOR (JAN 29)
1. Bearish LHs and LLs
2. Moving average at 200 is on down slope and above the price action
3. Bearish downtrend noticed on multiple time frames (Daily and 1H)
4. Price as recently pulled from Resistance between 82 & 82.29 and expected to test the last significant support zone at 78.56.
5. On 1H chart, short term bullish action was seen but from 1D perspective, price was in range and never broke the Significant Resistance between 82 & 82.29. The Last LH was never broken even after multiple retests.
6. Fib Level Analysis:
a. From Swing-High of 92.91 and Swing-Low of 70.25, mostly price stayed in a box zone of 50% and 38.2%. Price to break, significant resistance at 50% but was not able to break it. Strong confluence between Fib and Resistance
b. Also 200-MA is between Fib zone of 50% and 38.2%. 2nd strong confluence
c. From the most recent swing high and swing low, price action has not followed Fib retracement, and Fib extension coincides with significant support zone of 78.56
7. On the 1H sideway price action, a Bearish ABCD pattern slotted as well
8. EMA-8/14 also signaling short position option
PREDICTIONS
1. Bearish trend is expected to continue with short term pull toward last significant Support zone of 78.56
2. A high probability of bearish trade option available. We enter multiple short TPs
BIAS 1 = SHORT - PLAN A, (@ Pending below the past LL at 79.06)
BIAS 2 = LONG - PLAN A (@ Market, if any significant pullback is seen after open of Market )
TRADE PLAN
———————
PLAN A: SHORT @ Pending Sell Stop when market opens
EN: 78.85 (@ Pending Sell Stop at 79.06)
SL1: 80.47
TP1: 78.30 - RR: 0.34 - Lt: 0.6
SL2: 80.55
TP2: 77.15 - RR: 1.0 - Lt: 0.7
PLAN B: Long (@ Buy Stop)
EN1: 79.806 (@ Buy Stop)
SL1: 78.28
TP1: 81.59 - RR: 1.16 - Lt: 0.7
EN1: ?? (@ Market)
SL2: ??
TP2: ?? - RR: ?? - Lt: ??