technically chart looking to be ready for a short - as a retracement or resumption of the long term down trend OR if this breaks a significant bullrun could continue risk is defined, so im placing my shorts
NZDUSD has been in a widening wedge pattern and has formed a shooting star candle on the daily timeframe. These are both signs of a reversal. Multiple confluence list: 1. Daily shooting star with 3rd test of trendline 2. Daily RSI overbought with 4 Hr RSI bearish divergence Entry around 0.66150 with stop above high at 0.66450. TP1 0.65550 TP2 0.64550 This is for...
From the large time frame price is near 61.8 level. This is a close to an area of structure. The weekly trend is downwards so this would be countering the main trend. However a small break out has shown itself on the 30 minute chart. Couple this with RSI divergence and we should see some bullish momentum until the descending trendline.
The Euro has broken out of a descending channel and is about to retest the break of the channel for a long entry at 1.10100 confluent at the 38% fib. TP1 @ 1.10500 & TP 2 @ 1.10700 Stop below 1.09900. This is for educational purposes only. This is in no way intended to be financial advice. I am not a financial advisor.
Gold has broken above previous resistance. Look for retest and long entry at $1458 confluent with 61.8%. TP @ $1472. Stop below previous low $1452. This is for educational purposes only. This is in no way intended to be financial advice. I am not a financial advisor.
AUDUSD complete analysis (Part-2): 1. The price was very close to completing cypher pattern at 0.67683 but missed 78.6 price. In such cases we usually get a deeper cypher at 1.618 Fib Extension 2. At 0.67347 we have confluence of : 0.886 Fib Level, 1.618 Fib Extension Cross Trend Line HTF Support Line Possible RSI divergence 3. This is a great place to take a...
STRATEGY: S&R Trading Strategy ID: 1209 Analysis TF: 1D Focus TF: 1H AOV: Minor Resistance Area ET (1H): Bearish Engulfing CP: Ascending Channel 1D Analysis MS: Sideways - Price is moving in a range 1H Analysis: CP: Ascending Channel - Price is moving inside the Ascending Channel. However, price failed to break above minor resistance of...
STRATEGY: Chart Patter/S&R Strategy (Ascending and Descending Channel) Focus TF: 4H TP Target: 2.04R ET: 1H - Abandoned Baby; Bullish Engulfing AOV: Ascending and Descending Channels' Support Zone (Confluence) 1D Analysis: Long Term - Price moving inside a large Ascending Channel. Short Term - Inside Ascending Channel, there's a Descending Channel and the...
Most of my posts will have a lot more verbiage associated with them than this one but in this case I think a careful analysis of the chart will reveal everything I want to convey. SPY is toppy here with Fibonacci extensions from two separate impulse wave together in a confluence zone. I see 315 as a potential top if we manage to get there. As always anything is...
At first glance this chart is a bit of a mess. There are many intermingling trend-lines, but my eyes are drawn to a falling wedge which I have colored with blue to help it stand out. After some analysis, Friday's (11/8) candle has bounced in a very interesting place. Prior resistance (red line & arrows), a newly confirmed up-trend (light-gray), our blue down trend...
That was it folks. Thanks for playing. After that incredible pump from $7,400 to $10,600, we were guaranteed a nice big pullback to enter for the next leg up. As it happens, Bitcoin has just wicked down to the candle-body highs of the previous range, along with the 0.618 confluence of the bullish move from the $7400 lows. I have increased my long position from...
Hello Traders, We're seeing a lot of confluence on BTCUSD (more than one analysis method give the same trade signal which often lead to greater accuracy). Confluence 1. Resistance Become Support The last lower high in a downtrend often become a good support level if it breaks (price makes a higher high) and price retrace to that level. Confluence 2....
AUDUSD has been creating a bull flag for the past several days. Price has been supported by the 23.6% of the entire move which is also confluent with 50%. Price bounced from this strong support level and now we expect continuation to the upside possibly as high as round psychological number 0.70 which is confluent with the 61.8% and the -27% extension of the...
Good day folks, had a long break from charting/trading and it was healthy:D Coming back to BTC, the weekly looks good, a solid candle close above the 0.382 Fib level from the previous retracement and as confluence also from the last retracement. Adding to that the RSI bounced back and stayed in the Bull zone. ADX cross between Di+ and Di - didn't happen. With...
As we can see from the chart above, the cross reached a very important resistance first established back in May as a support and tested in June; the "change of polarity" happened in July, when price dropped of more than 4% in 2 trading weeks. As the saying goes: "the first test never fails"; it didn't indeed. We could be in front of a retest of the resistance,...
Lets see how confluence works: EOSUSDT trend is bearish on D and 12H. On 4H we are having some kind of bounce or consolidation bear flag. We know this channel is going to broke downwards, at least the market in general push bulls and invalidate TA. If nothing extraordinary happens, this is going to be a continuation pattern. I see two possibilities: 1.- Channel...