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Confluence

NQ - correction or turning bearish?NQ currently has an immediate resistance turned support at 12900. Near term support zone is between 12750 - 12900. 12750 is where I marked D which is a confluence of: 1. the 100% fib projection of the previous correction from A to B (projected onto C) 2. the 50% fib retracement level of the BC mini swing up As long as NQ does not go below 12750 (+/- 50), it is still within "normal" correction for now. No need to "panic" yet! p/s all bullish bets off if NQ had a close below 12700 Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
CME_MINI:NQ1!
by Juliac
Shorting AUD/USD on the basis of S&R !! #ShortShorting AUD/USD on the basis of S&R !! This trade is for Educational Purpose only. The Goal is to highlight the importance of Support & Resistance zones (S&R) and how can Weak and Strong zones be identified. Support & Resistance (S&R) can play vital roles when it comes to trading. Most traders use S&R in order to look for precise entries and exits. The Pair has been Bouncing off from zone Marked in Red which acted as Support earlier. The Support was tested four times.. Soon it was broken with strong Bearish Candle. The more touches/bounces the Support zone had, the weaker it got and as a result it got broken. Often time Support acts as Resistance zones and Vice versa . It is important to note that S&R can act as a strong Confluence but trading just on the basis of it alone can be dangerous. Using other Confluences such as Market Structure, Divergences and Chart Patterns such as Double Top/Bottom are equally important. Since Trading is the game of Probability, it is Essential to have more than One Confluence. The Trade Plan: The trade plan is to Short AUD/USD, once it re-tests the broken support zone which is now likely to Act as Resistance. Note: Take this trade after doing on your own analysis. Target: Target is set on the basis of Fibonacci Re-tracement which comes in between 0.618 & 0.5. Stop Loss: Stop Loss is simply set on the basis of 1:3 Risk to Reward Ratio. Time Frame used: 1H Analysis based on: - Market Structure - Support & Resistance. - Fibonacci Retracement tool .. used for setting Target
Short
by M_Shariq
3
Ready to long BTC?We have no confirmation for a trend reversal in high timeframe! BUT, we do have 3 or more confluences at that miniGP level, which is more than enough to look for a long position, provided reversal indications with PA. dont blindly use high leverage, instead risk less than 5% on this trade. If looking for high leverage go to smaller timeframes and wait for levels to hit, use CCTR or MLB for reversal indication risk bare min.. Mindset to be in: "If this works im in, if price flirts at that level i will ditch on high leverage entries"
BYBIT:BTCUSD.PLong
by phenodev
3
Confluence Test for this Week's CandleCOINBASE:BTCUSD Right now, we are currently testing a $17,000 - $19,000 weekly candle support on $BTCUSD, while the 14 week RSI oscillator is oversold (<30). I'm hoping that by the close of the weekly candle, the RSI and candle for this week will either: Ex1. Close above the $17-19K support zone AND above 30 RSI or, Ex2. Close below the $17-19K Support zone AND below 30 RSI. This will give us confluence in determining if we continue to go to lower in price (Ex 2.) or HOLD $17-19K as weekly support.( Ex 1.) If the RSI and price candle do not close both above OR both below their respective levels, it is still ambiguous if this $17-19K weekly level will act as support or transition to resistance. I will be on the lookout for this coming Sunday night weekly candle close. ***DISCLAIMER: NOT INVESTMENT ADVICE***
COINBASE:BTCUSD
by jdm69
1
Redemption I played this long into earnings in a post back then I had target over 100 (green boxes back around earnings), risk to 35 (red box where it has been trading post earnings). I noted I was hedging the ER and that worked out but I was completely wrong thinking the play was long. Well now UPST shorts are in trouble with a close over 36 it should see explosive upside off the recently formed Navarro 200 harmonic to pt 1 55, pt2 69.. I'd expect continuation if it makes it makes it to pt2. We have seen what UPST is capable of when the ball gets rolling. The explosive upside from here will begin this week when RSI crosses above its moving average, RSI crosses have captured its performance since IPO better than any other indicator and on average UPST has a 64% upside move following RSI cross above. 64% here is approx. pt1 (this is also the 1.00 of the harmonic, pt 2 is the 1.618 and the gap fill.. so decent confluence pointing to these levels). .
NASDAQ:UPSTLong
by JerryManders
4