As price rejects our weekly Level 1.066 which began on May 31st, we map a possible scenario in which we may jump on the train with long positions. I am anticipating the new weekly candle to pullback first and create a bottom wick as most weekly candles contain. Price has arguably been in a range for the past 2 weeks. The Last 2 red folders news events last week...
The market is going up for asian session and I'm anticipating a correction of this price action during lodnon session. With USD CPI data during New york session it is possible price could just fly to the next daily resistance zone 1.0813. This will likely occur if the 4.1% forecasted inflation rate isn't met and inflation decreases at a slower rate than what is...
The Market can do whatever it wants. The market may do as it wishes whenever it pleases. Like the wrath of a god. We are not gods. We are humans and not one of us is invincible. Therefore we must only take good Risk/Reward ideas. Buying up here is not a good RR Idea. Buying the High and chasing the market is Forbidden to professional traders. Just as Selling...
There are only two things that can happen on Friday's Daily Candle 1) Price may continue to create a larger weekly candle body or 2) the weekly candle will form a larger wick and retrace This week we are observing the latter Price is pulling away from the High prices created during yesterday's New York Session If the Daily candle closes beneath 1.0762 then we...
We can observe the Ongoing Range above our Key Level ( Weekly Level 1.066 ) Monday Asian Session -> Bearish Monday London Session -> Bearish Monday NY Session -> Bullish Tuesday Asian Session -> Range, and at best slightly Bullish Tuesday London Session -> Bearish Tuesday NY Session -> Bullish Both London Session's this week have been Bearish thus far. As we...
This view of BTC comes from a background of Price action trading. Trading Fakeout's are quite common in the Forex market and have proven to be a cornerstone of my Trading Strategy. Fakeout's occur on all timeframes and take the market for an unpleasant ride. Traders Buy the breakout or in this case Short the breakout hoping to jump on the train and continue to...
Manufacturing Data sent Eurusd price soaring 42 Pips in less than 11 minutes as the expected figure missed. Is the current Price sustainable for Eurusd? The Weekly candle dipped down to down Daily Support Level 1.06684 and coinciding with manufacturing data we have rejected our Daily support level. In order for the current Daily candle to close bullish price...
33,111 Support on the Weekly Timeframe 34,092 Resistance on the Weekly Timeframe With Monday Daily candle close, we have just created a Daily resistance zone at 33,760 32,856 is the nearest Daily Support Zone After the market pumped up +2% last Friday, we can observe a -.61% down Monday. The Market has been ranging for 6 months plus. I think we will continue to...
Timeframes are closing above Weekly Zone 26,770. Unless during the next 22 hours we see a 1.22% dump below our weekly level , I'm Looking up from here. Price has returned into our range from the second half of May between Daily Zone 27,400$ and 26,747$ Weekly Zone. Price printed a solid Bull candle rejecting our Weekly level which was anticipated. Price...
Well.. entering the final london session of the week here. I'd be a fool to change up on my analysis. What I have projected thus far this week has occurred exactly as I had anticipated. Would I be foolish to give up on this and outsmart my original idea so to speak. I don't want to play myself. When you stick around in the markets long enough, you begin to see...
BTC Bulls Investors - " We want a pump back to all time highs to earn money " Institutions/Insiders - 1) " We want pump as well to earn money, but we must wipe out investor accounts and create a reset in price. 2) " We will clear out the bull investor liquidity first. When there is blood in the streets, we may consequently re-stock our inventory of BTC and...
Someone recently asked me if the zones I draw on the chart is an indicator. This speaks to the amount of experience and level of competence that is easy to forget about. My ability to spot key level's and price areas on the chart is not something that is acquired overnight. It's a culmination of trial and error over the years and a loss of a significant amount of...
If we are trading with the trend then it would be wise of us to continue to look for short setups. However, Price has plunged to the downside plenty and it is reasonable to ask when will we see a correction. My thoughts are that we see a dip early in the week. Buyers eventually show up around our weekly level 1.06654 and we continue up for the rest of the week or...
As Bank Holiday Trading comes to a close, we can observe another Bearish Daily candle. The Eur is weak through the holiday trading and the U.S dollar advance is yet to give in. The dollar index is a little bit better than B.E. on the day. For Eurusd : - Watch 1.07116 4Hr Support zone closely. A Strong 4Hr candle closure rejecting this level may send us quickly...
Jobs Data was expected to ease over the prior period as the U.S. may have had a smaller amount of job opportunties for it's citizens during the month of May. It turns that the U.S. had more about 160,000 more job openings than was expected. So this is positive for a few reasons - Data was expected to ease over the prior period but we didn't ease and instead the...
Fundamentally the Poland economy is showing green signs to recover,while new crisis ae threathenning Turkish economy Technically A long solide series of Higher Highs and Highe Lows is giving a stong bullish picture The Bullish volume is creating more often while the short setups get quickly stopped by very low volumes. PLN boke aleady 20-50-76 and...
The latest US GDP growth was 2.7% for Q4 2022. Unemployment rate is 3.4% in January 2023. Annual inflation rate is 6.4% in January. Fed Fund Rates is 4.50%-4.75% and climbing. Manufacturing and Industrials are struggling, but not bad. Yearly retail sales minted at 6.4% in January. The Fed Rate Monitor is showing an increase for a 0.25% at a 74.50%...
The FED is increasing rates higher and higher and it is looking like they will increase rates past 5%. The next increase comes in March and it will either be 25 basis points or 50. A 50 basis point increase will definitely push Silver below the 20 level. Inflation is still high across all major countries and it is a battle between Central Banks fighting...