Bitcoin was recently in a descending right triangle and broke the 5025.0 level. Right now, it is still bearish. Will Bitcoin break or bounce from the 2984.7 support? Let's see when price gets there.
There are a number of different ways of using technical analysis. One way of using TA is to formulate a concrete trading plan upon which one can base actual trading decisions. I use TA to find certain (rule based) trade setups, and wait for price to give me either a confirmation of that setup to enter the trade, or an invalidation to cancel the setup and...
The price shows Bearish structure, we will wait that price complete the correction and once the price enter in the zone we can sell
The marked zone match with the 61.8% of Fibb in the wave 2-3
This trade was taken last week, same concept and same set-up, 4H TF we in an uptrend, MA acting as nice support, great break-out from minor trend followed by a double bottom on H1.
Easy RR, banked over 110 pips on this last week!
Well:
I've been telling to most of you that the dollar might crash in the next months. The factors, confluences and data are there. Huge volatility, discrepancies, smart money and contracts are in play. Although we don't know the right time this "crash" is going to take place, it seems that the DXY is helpíng us to push UJ down. As it's been sustained by the...
Looking for sells on GBPUSD via limit order at 1.31250 / 1.31350 with a 30-35 pip stop loss!
Targeting 1.29600 for a 4.5 reward to risk ratio trade idea and I would expect this trade to be completed by early next week
We have the Federal Funds rate occur on Thursday November 8 which could cause bullish movement on the DXY (XXX/USD pairs go down) and there are...
GBPJPY is being reject from the 142 - 143ish level. If you look back on weekly, it's where price played a lot before forming this year's low. Right now, it looks that price won't stay in that area for too long, so I'm looking for that break on daily. Also, in the fundamentalist scenario, we don't see GBP`falling even more (of course it might happen, but...). So...
Ok:
We have bullish structure on Daily, despite that triple top;
Price is rejecting that strong zone as we have a daily bullish candle there;
We've just retested that beautiful liquidity zone;
So, I'm looking for entries on the LTFs. IF. PRICE. ACTION. SHOWS. IT.
Look, it seemed that we went out of that bearish shot. But the fact is: we didn't, not yet. Price just made a recent new low on the recent price action. So, I'm looking for it to make a new LOWER HIGH so I can jump in sells. Of course, if PRICE ACTION DOESN'T SHOW US REJECTIONS, WE WON'T SHORT IT.
Here's the thing:
GOLD Weekly is going up for a few weeks now.
Monthly rejected a support, creating momentum.
Daily just tapped out of that consolidation area, to the upside.
Although I'd say we need a higher low, it seems that the consolidation is acting as such.
On the 1 hour that I've marked, you can see the nice bullish market structure price has made....
I marked the potential key level, it's up to you to interpret.
All matter is the price, price behaviors.
Tags: market structure, order flow, market flow
