The pair is in a bearish trend and there is no divergence on RSI. The trend is expected to continue. The entry, stoploss, and profit levels are marked. We will see if the market continues or gives reversal signs at D (Potential Reversal Zone). We will take action accordingly or let the pair hit tp levels.
The pair is in a bearish trend and there is no divergence on RSI. The trend is expected to continue. The entry, stoploss, and profit levels are marked. We will see if the market continues or gives reversal signs at D (Potential Reversal Zone). We will take action accordingly or let the pair hit tp levels.
The pair is in a bearish trend and there is no divergence on RSI. The trend is expected to continue. The entry, stoploss, and profit levels are marked. We will see if the market continues or gives reversal signs at D (Potential Reversal Zone). We will take action accordingly or let the pair hit tp levels.
The pair is in a bearish trend. The AB=CD harmonics have been applied for the marked take profit levels with the entry and stop-loss. The Potential Reversal zone (PRZ) is identified using harmonics. Let's see if PRZ performs or not!
Fibonacci extension tool is showing a 1.41 level inside of a 4 hr demand zone. We also have a measured move on the previous down leg. I suggest to watch this level and not just buy it at this level. Let's see if we get a reaction off the level that we can work with and THEN go through our process to take the trade long.
Price got rejcted at a major resistance 0.88276 and we see an AB=CD formation in confluence with a double top and RSI bearish divergence,.. Sell with proper risk management.
Price geo to technical resistance cluster: - 1:1 of the uptrend impulse from 16/03/2020 to 29/12/2020 - 1:1 of the uptrend impulse from 06/03/2023 to today - FR 0.618 of the dontrend impulse starting 29/12/2020 to 22 Sep 2022
Here we have what looks like another expanding top forming with ABC correction. If this plays out, we will look for another bullish candle at a support zone, followed by an open higher. Buys moving up from there could signal an opportunity to join the momentum.
The entry bar is not perfect, but we have a move below the resistance area and a big volume coming for the bulls. That might be a good Spring setup. Risk to reward is excellent. If you close half at 1 to 1 and then aim for 161% extension you have close to 1 to 3.3 RR trade.
This area will offer a good area for a short. Observing reaction and waiting for a convincing entry bar. Setup - 1 to 1 also price might move behind a previous high and take the stops. Call it Double top, Support Resistance, it doesn't matter. If stops are taken there will be trapped people. Stochastic in Overbought - not that it strictly predicts anything...
See how volume was drying down and was not validating the rising price. Then we had this red Outside bar on raising volume that occurred at the exact 1 to 1 point. Also, it occurred above a previous high so we might imagine that stops were taken. This was also the 61% retracement. Another confluence point is a Divergence from both the 8 and 14 period...
We have a Gartley or AB=CD potential from the 61% retracement level. Volume is drying down which is a leading indicator of price. SPX500 regularly tests the 78% range which was going to make the setup called Gartley 222. I personally look for these at the 61% levels and the 78%. Quite possible to see a few stop hunts until we see a decisive move down, but...
Potential Upthrust in this area. Waiting for a 3-wave correction for a valid Upthrust. Then a good entry bar will be needed for a trigger. Notice Stochastic enter overbought so good for confluence. Sett spot trade is also possible, but looking for people to be trapped.
Great upthrust example, stops were taken and price reverses aggressively. Price already moved a substantial amount down so won't initiate a trade.
If I see a good entry bar indicating that stops were taken and there is enough liquidity for a strong move up I might enter this as a Spring setup - a form of AB=CD. What I don't like is the longer consolidation, but if you go to 1H it still confirms the bulling trend. We are not here to predict the future, but to buy with a small stop in relation to the...
Possible 1 to 1 short due to measured move. Also a valid Upthrust setup. We have an inside bar on the 30 min timeframe, one may use that for a low-risk high-reward entry. The longer target is the previous resistance area around 4444.
Potential upthrust. Waiting for a strong entry bar. 1H trend is a bit bullish, but 4H trend is down according to my Long term EMAs.
Australian Dollar Starting with the weekly chart, consolidation is evident. On the daily chart, a retest of the previous support within the consolidation. A four-hour chart shows an RSI divergence—a gem for counter-trend traders. The one-hour chart mirrors this setup. Reading trend movements with precise filters is pivotal to distinguishing buying from selling...