Fellow traders,
Contraction of volatility, BBands squeeze on 2day chart indicates that a large move is inevitable. Confirmation 6day chart on the right side of the screen shows bearish momentum. It looks like soon we’ll see BTC at 40k, or lower. The upcoming golden cross may be a fake out. All this will be invalidated if price action manages to stay where it is...
This would be the bearish case for silver:
Triangle pattern broken to the downside. Price quotes are under the 50's MA. Target for this case according to the height of the triangle would be ~17 USD / Oz..
According to inflation and so on it would be a rather unlikely scenario, but the market does what the market does.
Todays Analysis – XTZ/USDT – finding support at a structural level with an oversold bounce.
Points to consider:
- Strong Downtrend
- Bearish PA
- Oscillators below 50
XTZ has found support after an impulse sell within this steep downtrend, further continuation into daily resistance is probable.
However, price action is looking weak and bearish. Even with a...
Evening Traders,
Today’s analysis – ALGOUSDT –price action is at a key pivot, currently holding the Daily S/R
Points to consider,
- Trend impulse sell
- Daily S/R Support
- 21 MA Resistance
- Oscillators below 50
- Bearish PA
ALGOUSDT has had an impulse sell into key Daily S/R which has multiple technical confluences, proving it to be a true trade...
Evening Traders,
Today’s analysis – CADJPY – confirming a bearish divergence and breaking Daily S/R, lower targets probable,
Points to consider,
- Swing high failure
- Daily S/R (resistance)
- Local S/R (support)
- Oscillators divergence
- Bearish Price Action
CADJPY’s recent high was not exceeded, establishing a valid failure swing. This allows us to...
Evening Traders,
Today’s analysis – EURGBP respecting its .618 Fibonacci leading into an impulse move, price action is currently testing weekly S/R where a rejection is probable.
Points to consider,
- Macro trend range deviation
- Bearish Retest (Weekly S/R)
- Local S/R (immediate support)
- Oscillators extended
- Volume below average
EURGBP has had a...
Evening Traders,
Second analysis for today – EURUSD – how Price Action is approaching range high is considered bearish with a rejection being probable.
Points to consider,
- Range high resistance
- Bearish Price Action
- .618 Fibonacci confluence ( Range low)
- 200 WMA support
- Oscillators overextending
EURUSD is approaching its range high, a technical...
Evening Traders,
Today’s analysis – SPY – possible blow of top with further downside probable, following technical points to consider.
- Bearish PA (swing high)
- Valid bearish divergence
- Weekly S/R support
- .618 Confluence (200 DMA&DEMA)
- Increasing volume
SPY’s immediate price action at swing high is bearish; a large wick on a weekly candle usually...
Evening Traders,
Secondary analysis – NZDUSD – respecting daily S/R with a range deviation, price is likely to test lower levels.
Points to consider,
- Bearish price action
- Daily S/R resistance
- 200 DMA support
- RSI bearish divergence
NZDUSD is likely to respect range high due to its recent bearish price action. Breaking impulsively back into range...
Evening Traders,
Second analysis – GBPUSD- short trade with risk defined above range high, technical points to consider,
- Double top resistance
- Range mid confluence (200MA)
- Range low extended target
- Bearish price action
GBPUSD’s initial rejection is very bearish, establishing a double top at range high.
Price action is likely to test range mid, the...
