XBTUSD | BITSTAMP:BTCUSD | BITFINEX:BTCUSD | COINBASE:BTCUSD | BITFINEX:BTCGBP | KRAKEN:BTCEUR | BITFLYER:BTCJPY
Impulse gaps - when price moves away with large volume and creates a tall candle, price creates a gap of untested areas which could be referred to as liquidity gap.
These liquidity gaps are caused from lack of actual liquidity, forcing price up into a...
- Momentum is slowing on EURTRY
- Block previously created, with equal lows being broken.
- Waiting on break out, retest then will trade to previous high.
- This may or may not happened, EURTRY is a volatile pair.
GBPCHF 4 hour retest
- This entry coincides with the daily GBPCHF short posted before this one. Looking for a retest off the uptrend to create a downtrend move.
- There is heavy liquidity below for price to soak up and touch the uptrend line once more.
We are trading around the 78fib retracement. We have some hidden divergence (Price making a lower high and MACD making higher high) which is bearish for price. We just missed the Weekly Order Block so my ideal scenario is one quick move up to take the liquidity and touch the weekly OB before coming down. Target marked is the first target and we could get much...
Keeping it simple here,
- We have two nice clear trend lines that have been respected previously
- Our daily OB has given us some nice resistance timing perfectly with the trend
- RSI is showing overbought
Playing it safe with a tight stop just above the wicks from the last few days or where ever you feel comfortable
Please comment if you find my idea useful :)
This is not a strong block but we may be looking at a possible short opportunity and test off the daily. Price may retest and break trend for an upswing
but I'm looking at taking this pair down to below the .68 level.
Waiting for momentum to slow on a high timeframe, particularly the 12 hour with a rejection around 1483-1485 and Stop Loss at 1495. Price is at a strong previous support and now may be looking for a retest around the previous pullback on the swing low.