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Confluence

AUDJPY: Can Bears Hold 69.000?Daily Time Frame: Price is approaching areas of resistance at 69.000 key psychological. By reading price action we can see that price had a strong reaction when it tested this resistance area in the past. Notice the strong bearish engulfing and wick rejections (pointing to the upside). If sellers are still at this zone, then we can anticipate them protecting this area. 4Hr Time Frame: Price is testing this supply/demand area once again. If price manages to sustain below this area, then we can look for shorts down to 67.500 key psychological support. However, if price manages to penetrate and close above then we must reevaluate price action. Due to uncertainty of market fluidity, risk management is highly recommended.
Short
by ChartAddicts
BTC: Day trade setupGood morning! Closed out a small short on ETH @ about $177 early this morning for a healthy profit. It's been fun dabbling in day trading again. Coming into today, my focus is back on BTC. It fell out of a small descending triangle, but price popped back up above the dark red support/resistance line. I imagine price will linger in this area for a bit until we approach the edge of the larger channel. Some key reasons I closed my short here: 1) There is a healthy bounce off the pivot 2) Were sitting in the golden pocket of FIBS (zoom out, larger dashed purple lines) of the 3.5-13k movement we had previously. 3) We're approaching the edge of the channel and several other key support areas 4) Our triple EMAs are still bullish above the 55 blue EMA on the 4hr chart. The pink downward arrow indicates the expected target of the descending triangle. This would be my most ideal buy in price, but will settle for anything around the pivot as well. As stated, it's a day trade so I plan to close at 5% profit. There is always the possibility of more, but the key to successful day trading is establishing a set of rules for yourself and following it. My biggest thing is to trade in ranges- take profits when the goal is met and don't FOMO back in, or stay in a trade out of greed.
KRAKEN:BTCUSDLong
by infbp22
Riding EURUSD Up To Form a Bearish GartleyEuro recently tested and retested an order block near the 1.0800 level. Upon this rest it has began the formation of a larger bearish gartley pattern on the 4 hour chart with a potential reversal zone between 1.1250 and 1.1300 (the 1.27 retracement of the BC and .786 retracement of the XA legs respectively. Entries for a buy would take place 1.09, with target 1 at 1.1150 and target 2 at 1.1300. Stops below 1.0830. For bearish entries upon the completion of the pattern formation. Entries would be at 1.1300 With stops above 1.1380 (the 1.618 retracement oc the BC leg as well as the .886 of the XA leg). Target 1 would be at 1.1100 and Target 2 at 1.0975. (Chart isn't the cleanest right now, but I've been keeping my eye on a lot of things. My apologies)
Long
by cheminacci
3
EURJPY - Bearish confluence!Lots of confluence pointing towards shorts on this pair looking at the H1 TF. Technicals: - Rejection of s/r zone in line with rejection of 200 EMA - Price action - hanging man/shooting star followed by strong bearish engulfing - Potential rejection of 118 psychological level Fundamentally I'm assuming we will continue to see a pressured Euro considering the Coronavirus situation in Italy (being a major economy) and refused EU bailout, which along with our technical bias may push this pair further south. Nice intra-day set up with good R:R, >1:4
Short
by MMQ_FX
2
Confluence of resistance on BTC approved by a bearish bat on stochastic indicator Hi pros! confluence is a method used for having an edge on the market (advantage over others traders) based on high probability winning rate in this case we used 2 types of resistance: -multiple trendline -structure resistance that provide us the best point entry possible for a trend continuation setup short from here enjoying the opportunity of that point entry being the optimal aim for 5000 then 3400 then 2000 or less
GEMINI:BTCUSDShort
by jeanneymar011001
Great Looking SetUp, BUT ITS FRIDAY....Shouldnt be trading on friday. But...... Idk... At 25 pips bring SL to break even,,, fuck it.. Lets take the risk and see what life has in store for us. Cant be afraid of the unknown, but we can be caution because of the proven... Dont be afriad, accept it and learn how to deal with it in the best way possible. Thats how you make things easier for the mind.. When you're 1 with your maker and accepting realitiy and youre blessing... lol You can go far..
Short
by rellis281
GBP/JPY SELL SIGNALHey tradomaniacs, welcome to another free signal! Important: Wait for the breakout of the current trendchannel and sell the retest after rejection. ----------------------------- Type: Daytrade Market Sell: 127,980 Stop-Loss: 129,410 Target 1: 126,810 Target 2: 125,530 Target 3: 124,740 Stop-Loss: 140 pips Risk: 1-2% Risk-Reward: 2,3 ----------------------------- LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Short
by Trading2ez
2 Possible SHORT EntriesWe are finally presented with more accurate technical analysis details on which we can more or less rely on here...As you can see, we managed to break out of the descending trendline from my previous posts coming up the our first crucial zone of confluence on the lower time frames. 5900-6000 is currently our holding resistance level and we will be looking to take short positions here incase we don't manage to break out of this level. Patiently waiting for the 4H candle to close down here to get a more accurate view on the upcoming price action, but so far its looking good. Now, incase we do see a break out, looking at the daily time frame we can see that the price will eventually come to an important zone of confluence within the 6500 area, as the price historically retested it multiple times. That would be our second short entry zone. In the meantime, we want to see a bounce from the 6000 resistance and break below the ascending trendline to confirm our shorts. Nothing too complex here, just a matter of price action within support & resistance levels. Watch out for any news coming into the markets within the next 2 days, as it can bring a lot of volatility! This is NOT a financial advice, trade at your own risk!
BITMEX:BTCUSD.PShort
by Proszi
2
BABA- Possible buy-in spotCrazy times all, but from a technical analysis stand point, BABA looks like its in another good buy-in zone for those looking to get on the wagon. I adjusted the channel a bit. We are at the bottom of it, including more confluence of support (blue line, golden pocket of the FIB retracement, etc. We're having a black swan event. Look at the overall trend of the US markets and other ones like BABA. It's not linear, but the trend has been UP since the begining of the stock market. Don't panic sell, wait!
NYSE:BABALong
by infbp22
MA AnalysisAs you can see on the chart, Moving Averages and Exponential Moving Averages can play a significant role in determining support and resistance areas. This is multiplied further when there are two or more MA/EMAs at the same price level, and these can make for great validation levels; "If price closes above these 3 MAs, look for long entries on lower timeframes" etc. You can also see that price traded in a fairly well defined range from June to October in 2018, hemmed in by both the 10 and 20 EMAs, and providing some great opportunities. Additionally, you may notice that the Monthly candle of December 2019 had little chance of significant price action, with 2 MAs directly above, and 2 MAs directly below (yikes). Currently, we are pressing up against MA resistance, which previously participated in the resistance of closing price in the April 2019 candle, and the December 2019 candle. Though I expect this month to close quite red, I would be surprised if we don't wick to the mid 9k range, where I will look for weakness. Use stops, and confluence.
BITSTAMP:BTCUSDLong
by Pillarstric
Fundamental + Technical Analysis = 70% profitability Fundamental Analysis i will start out that there is a GDP q/q 1:30am PST 4:30 Est i believe that news will ultimately be bullish outcome for 6-14 hour Time of expiration of purchase which i will buy in nadex one ITM(in the money) and one OTM (out the money) binary trade: Here is why i think fundamental is expecting a bullish outcome on fxfactory the forecast is 0.0 PREV is 0.4% if you look data avg it doesn't dip beyond a 0.0 in the last 3 years so im not expecting something different than an outcome higher than 0.0 Technical Analysis so to start we had a break of structure where i highlighted with a ellipse purple and that is a significant point and i then drew my Fibonacci what i would like to see is a retest of the low at 61.8 or 38.2 again before reentering in on the trade with that being said as well we have the break of structure retesting as support: im writing this now as 430pm pst and i fell asleep the trade went into my direction and i believe would of easily been a winnable trade with the fundamentals aligning as well: indicators do show rsi divergence and the VC showing a exhaustion in sellers: Trades taken at 129.2 or 129.4 for otm: ITM would of been at 129.00
Long
by Helloandtrade
Fundamental + Technical = 70% w/l Fundamental Analysis: We have RBA Gov Lowe Speaks which more likely than not is hawkish for this pair so im expecting for a somewhat good push and while im writing this at 4pm pst it is pushing down now: however im expecting a push for the downside next 6-14 hours or staying negative percentage of gain in the aud/usd pair Technical analysis: we have a break of structure which i highlighted with a purple Ellipse and with that means new structure on the 1h however 4h is still providing a bullish bias so be careful on where you set your targets for this option i would say play it safe at either the .400 mark which is lime green or at the .200 mark with that being said fibonacci played nicely off the 78.6 which is a slow and moderate push Price reversal zone and we had confirmation with market structure with the rsi divergence and VC Showing seller exhaustion
Short
by Helloandtrade
1
EURCHF Time To Scout Longs. Long-Term Trade Opportunity. EURCHF is at a major multi-year historical lows/support, along with a meaningful confluence of support. Will be on the lookout for longs. For the Risk-takers one could consider getting in long now with the patience to hold. OR For the more risk-averse, first wait for signs of strength from the bulls before getting in long. As for me I'm more inclined to patiently wait for signs of buyers stepping in before getting in long rather than jump in front of the momentum at the moment.
Long
by PriceActionNation