Confluence: 1. Well Respected .618 Fib Retracement Level 2. Strong Support Level at 232.75 3. Cup and Handle Pattern Forming 4. Strong Candle Bounce Off of .618 Fib Level 5. $ES Futures Looking Very Bullish On 1H & 4H timeframe.
AUDUSD has rejected the 0.69800 institutional level and has been playing around and testing 0.69500. It has approached the Daily 0.62 fibonacci retracement and I believe it will rollover to atleast the 0.67000 level. This has the potential to drop lower though but lets see.
Tendency: Downtrend ( Bearish ) Structure: Channel | Support & Resistance | Harmonic (AB = CD) Observation: i. Trading Channel occurs as parallel trendlines connect price's Support and Resistance levels within 1.54300 and 1.50500 range. ii. Channel emphasizes the sideways movement in the market. iii . A Breakdown of 1.52200 from 61.8 retracements at point C might...
Nice uptrend on the 4HR Higher highs and higher lows A retrace to the 0.618, rejection of TL and 50MA (with a new higher low) would be ideal entry for a long
Following the break of the previous ascending TL, we saw some short term bearish moves, but failure to close below the 200MA We have since had higher highs and lows created, forming a new uptrend. Looking for a pullback and retest of trendline, 0.618 FIB and 50MA before going long
Todays analysis - IOSTUSDT – retracing after a strong breakthrough structural resistance. Points to consider: - S/R flip Re-test - Support confluence - 55 EMA – visual guide - Volume climax - Oscillators overextended IOST is likely to retrace back to structural resistance after a bullish pattern break, S/R flip needs to hold for a valid long trade....
Todays analysis – ZILBTC – trading in a possible descending channel, currently testing local support. Points to consider: - Flow in the market/price action - Respecting key Fibonacci levels - Resistance Confluence - Trend Reversal - Low Volume - RSI below 50 ZILBTCs healthy counter-trend and strong continuation adds legitimacy to the money flow. The...
After a sell-off seen today on GJ, I believe that another short opportunity may arise if we climb up to the range provided on the chart. I believe price could retrace back to the 135.500-135.800 institutional levels, which lines up perfectLy with the 0.62-0.79 fibonacci retracement, as seen on the chart. This could happen during the Asian session, and then...
Looking for a pullback towards the o.618 fib level to potentially retest the current descending trendline
The EURUSD short yesterday went so well. Meanwhile, USDCHF was still very weak as the stock market slumped yesterday, making EURCHF had a significant pullback to 0.618. It rallied a lot after consolidating in weekly 0.618 spot, and now it pulled back to the 0.618 of the current rally. I'll be interested in this 4hr engulfing long. Let's see how it goes yo!
After a clear rejection of the 1.28000 institutional level yesterday (10th June), GBPUSD fell past the previous day's low. Since then, it has wiped out typical retail long positions during the Asian session, after a "double bottom" formed as can be seen on the chart. I am anticipating a retest back into the 1.27200 level where I aim to go short, aiming for a...
After the solid breakout of our ascending trendline on CADCHF, we will now be looking to retest it on the 0.618 fib retracement - corresponding well with the previous support zone now acting as resistance.
CADCHF is currently trending within an ascending parallel channel - slowly making its way down to potentially create another LH on the lower ascending trending. Looking to enter longs on 0.618 fib retracement which perfectly corresponds to a crucial S&R area on the lower time frames.
EURCAD is the typical butterfly pattern that I'll be interested in. Most of the time, a butterfly pattern may mean a new low has taken place, which may be contradict with the current trend. While, if it can hit the previous 0.618 or structure at the entry of the butterfly, that makes it a much better trade! Here we got this 1.4925 spot to wait for reversal sign...
Evening Traders, Today’s Technical Analysis – XTZUSDT – a break out is imminent as volume continues to decline; key structural levels are likely to be tested. Points to consider, - Trend bullish (consecutive higher lows) - Trend line support holding true - Current resistance .618 Fibonacci - RSI above 50 - Stochastics projecting down - Declining volume...
Expecting a pullback down to retest our ascending trendline on EURJPY, which is also in confluence with our 0.618 Fib level, and also the previous crucial support area. Furthermore, we expect to retest the breakout of the previous descending trendline.
This is a full breakdown of my perception of price action on higher time frames! I take my entries using smaller time frame confirmation and you should, too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below! Let’s make some money together!
FX:AUDUSD AUDUSD has done the impulse wave and finished the 5th wave at around 0.6550. Made it a top and traded in the range for two weeks. And it now made a double top this last trading week which shows weakness of the trend. We can expect a correction until it reach the 618 fib retracement which is pretty significant level. You can like and comment of my...