USDCHF reached a strong 4H structure resistance.
the price formed a sequence of dodji candle on that.
on 1H the price has been coiling within a narrow consolidation trading range for many hours and just recently broke and closed below its support.
I took short trade on a retest.
another #Support on level 0.5 fibonacci in price ~391 means market resist on price drop. as past idea has been posted the market is increasing itself & know is the best time to long on market & close your position on current price
Indicator: Fib Retracment
Market Condition: Long
Time Frame: 4h
The above chart is an attempt at showing BTCUSD's monthly structure. As this market enters a sell rotation, it makes sense to be alert for potential reversals in the sub $10k area. Monitor the $9.2k-$9.8k price range for supply & demand imbalance hints. So far, BTCUSD is printing a correctional formation linked to an overall risk-off attitude that started sweeping...
I hope you find my analysis useful.
From what I can see, price seems to be holding within the trend channel (bullish sign)
The moving averages are beginning to cross, and as you can see in the past, when that occurred, price rose (bullish sign).
Price needs to hold above the lower trend channel and break past the .786 fib to confirm bullish price...
Bitcoin surged last night above 11800 and right now is 11950 - just under 12k . Surely 12200 will come soon. But more importantly we are now inside the 'blue' band of that pink and blue regression band . We had been in the lower pink part of that band for awhile but last night we broke up into the blue part of this 'regession channel '. That's bullish imo . That...
I don't use the typical multi TF levels.
I choose a bunch of TF that I am more comfortable with. (Thus the 2h chart)
I have market everything on the chart for you. I prefer to keep the chart as clean as possible.
And Personally, I am not a big fan of candlesticks. Whether on the chart or off the chart.
Focus more on your risk management and psychology, cause...
Possible Long on the Euro-Dollar
Identified with the following:
- Fibonacci retracement on the 0.382 Mark
- Supply and Demand zones
Looking at a higher timeframe (D1), the ED is considered to be in consolidation. Take note.
Heightened volatility incoming with the elections just a few days ahead.
BEAUTIFUL PRICE ACTION, AS SHORT TERM HIGH GOT RAIDED, PRICE THEN RETRACE INTO AN 1HR ORDER BLOCK AND CREATING THE LOW OF THE DAY. PRICE GOT A BEAUTIFUL REACTION TO THE UPSIDE ONLY 4 PIPS IN DRAWDOWN IN RETURN FOR 156 PIPS IN PROFIT. (SIGNAL CHAT IN MY PROFIT BIO IT FREE IF INTERESTED)
I have recently started analyzing charts and have come across this interesting idea.
This chart is on the 4hr time frame. It looks like $JMIA is about to enter wave 1 after a 5-3-5 zig zag countertrend according to the Elliot wave theory. This idea assumes everything prior to this trend was just an IPO countertrend. Wave 2 two bounces off the .618...
Clear as day! Price broke really strong support on the daily chart! and we are retesting that support as resistance + we are rejecting those fibs levels from a daily prespective.. probably next week the big move will be sell.. but still you never know so keep on eye on that too
Multiple factors point towards a fib retrace starting here, if it can hold the .236 fib at approx 1901.6.
Inverse head and shoulders formation, we also had a RSI breakout at the bottom of the move.
We have also potentially broke back up into the descending triangle which we broke down from. Looks like the .382 could meet with the descending trend line and...
*To be on a very safe side 1st early profit target is at 0.92950*
Backed up with COT data on what Hedge funds are doing we have more longs than shorts...USDCHF just tested the 0.91650 support level.
Profit target: 0.93780
Very clear on the 1 hr and now 4 hr charts for some hidden bearish divergence (possible continuation of trend) which was selling. We hit the .382 fib from previous high to low. I am buying puts for my next target which is the .382 fib to the downside around 306-305 area.
It is possible that we move slightly higher to the .50 or even hit a full measured move of...