Confluence
SP500 At MONSTER Confluence Zone SP500 is fast approaching a major confluence zone of resistance in the form of:
-Multi-Year Trendline Resistance
-78.6 Retrace of the March lows
-March swing high
From a risk-reward perspective.
I am favoring shorts.
Be wise to wait for price action on lower time frames before getting in short.
Best of luck! :)
BTC short-term bullish $1200 mid-June confluence Short-term Bullish Trend continuance to Resistance zone around $1220 mid-June with Confluence of two Andrews Pitchforks before expected historic post-halving dip
EUR/USD Sell IdeaI'm basing on institutional levels, a Daily IMB was reached, confluencing with a double daily divergence + a WyckOff formation confirmating the BOS.
GBPUSD Long on RetracementGBPUSD is currently trading within an ascending parallel channel. Previously, we managed to breakout of the descending trendline and a pullback to retest it is expected. Furtheremore, the 0.618 Fib retracement level, appears to correspond well within the trendline location, as well as the outlined historical S/R area.
GBPJPY Long on RetracementGBPJPY just saw a solid rejection allowing us to confirm the wedge formation. We are expecting a retracement to retest the 0.5 level of Fibonacci. Furthermore, we have the lower ascending trendling corresponding with the previous major resistance zone outlined in green (now acting as support). Perfect zone of confluence for a long setup, just waiting for the proper pullback to confirm all this.
USD/JPY LongGood afternoon from NYC.
If if USD/JPY support holds at 107.358 then we can see a continuation to the upside. Buy limits are set in place with the SL just set below the daily low.
AUDUSD ShortAUDUSD is forming a bear flag. Wait for price to reach the 61.8% fib and reject, old support becomes new resistance to confirm short. Potential 75 pip move. Good risk to reward. I am not a financial advisor. This is not financial advice. This is for educational purposes only.
CAD/CHF reaching a strong zone in my opinion. PO for LONG.CADCHF have a bearish pressure looking from a 4H timeframe. Expecting it to reach a zone where, demand zone + support zone + trendline confluence, then bounce back to retest former Support.
Green Box : Supply Zone
Orange Box : Demand Zone
White Box : SNR Zone
EURJPY OverviewSpotted a bearish cypher (D1) and a bearish crab (H2) both pointing at same zone, expecting price to head up there and we see a reaction from there.
EUR/USD on the range: Another Confluence rejectionEUR/USD on the range: Another Confluence rejection.
GBPUSD | FIBONACCI RETRACEMENTHello Traders!
Price invalidated the channel and currently forming a bearish signal over Resistance area at 1.2260 which was formerly Support of the invalidated channel and looking at the chart pattern, price is rejecting the fibs 50% retracement level, this is confluence, rooting to short this pair down to around 1.1950 level.
please support with LIKE if you find the trade idea useful.
Regards
AUDUSD Short. Lots of confluenceBig downtrend instigated by Supply level, circled on the right. Down to a demand level, which started new uptrend with Higher Highs and Higher Lows consecutively.
Buying power has now pushed back into the supply level, unable to form a Higher High. It has now formed a double top and begun its downward phase. Just touching the 20ma aswell, and the MACD is indicating down.
Lots of signals to sell this IMO.
I'd be interested to hear any counter arguments.
Cheers.
Jordan.
EUR/USD analysisclear and simple trade setup, eur/usd has returned to a key institutional buying region in which price has been trading within this range for a few weeks, am expecting for some momentum to be picked up around this region. confluences acting within our directional bias, intraday 61.8% fib as well 1.08000 zone
1:2 risk/reward trade
EUR/GBP analysiswe had a break and retest of this trendline, the price has respected our 61.8% fib region, could pull a leg higher to the targeted region.
GBP/JPY Long (area of high confluence)Through my technical analysis I believe that the GBP/JPY pair will have a short term drop to retest an area of high confluence before continuing in a bullish trend . What do you think?
AUDUSD: Wait for the Drop!Daily Time Frame: Starting on the daily we can see that price broke back below .64500 key psychological support in confluence with our uptrend. Now that price is back below and reading the last couple of daily candlesticks it is safe to say that AUDUSD is starting to look bearish.
4Hr Time Frame: Scaling down we can see price forming a potential head and shoulders formation if it manages to pullback to .64000 key psych and newfound resistance. If price pulls back and shows signs of rejection, then look to sell this back down to .62250 key psychological support. However, if price violates back above .64000, then we must reevaluate price action. Due to the uncertainty of market fluidity, risk management is highly recommended.
Bearish Bat Forming on USDJPY at with Fib ConfluenceWe have a potential Bearish Bat Pattern forming on USDJPY. The potential reversal zone aligns with a previous consolidation area as well. Potential entry between 110.60 and 110.90. Target 1 at 107.80 and Target 2 at 105.80.
intraday setup-EUR/GBP shorteur/gbp is still extremely bearish, we have seen some major confluence around this level, so we positioned an intraday setup.
EUR/USD long projectionmajor confluences circulating around eur.usd current price, trendline and 61.8% acting as support.
-great risk/reward
more confirmation is good confirmationJust updating from earlier. Still a jumbled mess of lines and Fibs, but enough to get a good entry. (for me. This is not advising anyone on financial decisions.)
4H GBP/JPY SELLGBP/JPY is in a distinct 4hour sell bias. GJ was currently consolidating and creating the final exhaustion from the earlier push down. Possible selling opportunity, watch out for extra SL hunt place SL above previous wicks. Multiple confluences for sell including trendline touch, supply & demand zone, 50% retracement fib, sell bias market structure creating the HL to push down for a new LL, imperfect double top. Targets are around the -27% rib extension or around the 131.00 round psychological number.
