The long-term trend may be short but hear me out, on the 1H timeframe the price rejected the 50 EMA and is trying to break the 200EMA. On the 4H timeframe, we may have a gap close between the 200EMA and 50EMA if it succeeds in breaking it. What adds some confluence is that we have an area of interest (purple line) where the price bounced many times before. Enter...
☑️ USD_JPY is trading above a horizontal level And is being propped up by a rising support line Which makes me think that the pair will bounce off this confluence And go UP with 4 targets in sight Close half after target 2! LONG!↘️ ✅Like and subscribe to never miss a new idea!✅
Look at the Time based Fib Extension on this bad boy from the 2020 bottom to the peak in the summer time. Combine that with a regular Fib Time Zone and we see a bottom or top is made after around 20 something days from once we reach the zone. Something nutty is about to be brewing.
Patience is the key... If price break and close below 200EMA, wait for retest then take the trade after 2 bearish candles confirmation. Death cross on 1H timeframe is in formation, wait for it to add confluence to your trade! Trade wisely :)
Reading price action, we can see EURGBP had a huge shift in momentum to the downside, clearing .88000 key psychological support. If price pulls back and tests as new resistance in confluence with signs of rejection look to short this down to .87000 key psych. If price breaks above .88000, we must reevaluate price action. Due to the uncertainty of market fluidity,...
Reading price action, we can see USDCAD has been making a series of higher highs and lows. Price created a double bottom at 1.27500 key psychological and reacted however we failed to clear 1.28500. soon after price aggressively snapped back to 1.27500. If price breaks below, we will be looking for shorts down to 1.27000. If price manages to hold look for longs...
Daily Time Frame: Starting on the higher time frame we can see price has cleared strong areas of resistance and testing as new support. Reading the previous daily closure, we can see that price is reacting to 1.78750 key psychological support. 4hr Time Frame: Scaling down we can see price is testing support in confluence with the trend. If price manages to...
ZEEL is trading in a wide Bearish rising wedge . And currently at the support of major Sell trendline and at the demand zone . Looking to SHORT below the zone breakout after retest . Looking to BUY if confirmed with a price reversal pattern (lower TF) or candle stick catalyst on the confluence with good volume and momentum.
50 EMA confluence + key level. To go short. I'd like to see a break of an inner trendline.
Just sharing a position I have just taken on GBPAUD long. Price has broken out of the descending triangle and has managed to hold momentum outside of this pattern. It has had a lot of volume behind it so there WILL be a retracement in price - Not to worry though. GBP is strong across a lot of currencies, and AUD weaker across the pairs I follow. Also there is no...
price rejected the long term downward trendline previously which was also in confluence with -27% retracement fib, we could now be seeing a lower high being formed to additional confluence to confirm a more aggressive leg towards the downside. risk/reward 1:1.7
bULLISH OUTLOOK FOR NAS100 AFTER THE DOWNWARD RALLY WHICH WILL ACT AS A RETRACEMENT OF OUR SIGNIFICANT ZONES. LOOKING TO TAKE LONG POSITIONS AT OUR CONFLUENCE REGION 12990 IF PRICE MAY DECIDE TO FALL TO THAT REGION.
The movement of prices to historically low levels has created an imbalance in the forces of supply and demand as well as in the sentiment of investors. The corrections created in the current downtrend channel give the opportunity to apply a Fibonacci system consisting of a Fibonacci Retracement and a Fibonacci Expansion. This system has provided a confluence...
Daily Time Frame: Starting on the higher time frame we can see price is testing a strong area of demand as price has reacted multiple times from this zone in the past. Reading the last few daily candle closures, we can see price is showing signs of slow down and potential reversal if we hold. 4hr Time Frame: Scaling down a time frame we can see price has had a...
6hr Time Frame: Reading our price chart above we can see price is trending up with that being said we should be looking for long-term buying opportunities. Reading the data, we can see time and time again price has faked out in one direction and snapped back in the opposite direction causing trader to get enticed thus generating more liquidity. Once you read the...
Price has progressively rose into highs, where candlestick rejections may be fluent around this fib level, if a dojo reversal sign is shown, price could reverse and find new momentum into the lows in connection to overall trend on higher timeframes.
Confluence around the 1.2786 price region which price has respected and could showcase downside pressures. risk/reward ratio 1:1.6
price could consolidate around the third bounce of the downside trendline, before conceding bearish momentum to the downside. risk/reward ratio 1:1.8