Right now, we shouldn't be selling as there isn't a good ratio.
First, we need to see a confirmation that the next drop begins and then to open a trade.
In best case scenario, that would be, after price goes a little bit above the previous high and it then shows rejection.
Entries could be made after an engulfing candle.
We're not looking for buys but only to sell!
I used price pattern behavior from previous halvings to make a future diagram projection. I calculated an estimated low price of $8000 - $20K, high price of $100 - 120k (possibly higher depending on actual low) and target of 10-$15k or less by the end of the year.
Past corrections were ~75% from ATH with bearish behavior for about 12 - 20 months following the...
Hi, I hope we have a profitable day
In my opinion, the downward trend is not over yet. It seems that the downward trend of the price will be completed in the yellow range of $1.678.
In the lower time frames (5 minutes) we have a tight movement, the price has come out of this compression from the bottom side. If the downward trend falls below the $2.01 range, the...
Hello my dear friends
At the end of the descending channel, a tight movement is formed in the daily time frame!
The possibility of the price exiting from compression is both upward and downward.
But whichever way it exits, it will definitely be a very fast move (:
For me, it would be better to wait and enter the trade if the trend moves above $0.0616.
I haven't shared in a while...
Big Head and Shoulders pattern followed by an impulsive break of that neckline and resulting in a nice correction to retest that neckline. Classic bearish flag pattern.
Please do not follow anyone blindly, not even me. This is only my opinion and not trading or financial advice
hellow fellow traders. hope you guys are having a splendid journey thus far. for those of you who were eager to see new ideas from me, i apologise for the wait, i was busy with my private students, however im back for this 3rd qauter, if you want to know more about my course leave a comment below. so far as we all know i have been 90% bearish on nas for the swing...
Yesterday, we saw a 200 pips drop on EURUSD.
The last time EURUSD was trading around those levels was in 2002.
However, this doesn't mean we shouldn't sell.
After this impulse yesterday, we're most probably going to see a pullback and a continuation towards 1,0200!
Entries only after a pullback. We're not looking for longs!
As it can be inferred from the DAILY timeframe chart, the price has been ranging within the borders of the ascending channel for quite a while now. Recently, the price has been able to form a nice top and reject the upper boundary of the channel. Looking at couple of previous candle closures, we can identify that long wicks to the upside have nicely rejected the...
There is a possibility that the price can raise itself up to the yellow area, $0.00414!
1) We must not forget that the price range of $0.00358 in the daily time frame has been engulfed!
2) On the other hand, RSI has a positive divergence in the daily time frame!
3) Currently, in the one-hour time frame, the price inside a pattern is a triangle!
Price action and chart pattern trading
> Elliott Wave downtrend projection with an ending diagonal pattern - possible breakout with one more final downtrend wave C minor
> Potential reversal @ SMA50 breakout of local trend correction wave and confirmed trend reversal once breakout of Elliott channel of global trend
> Indicator: MACD bullish divergence signal
As it can be illustrated from the graphical representation, a massive sideways-moving rectangular box has been formed and the price is currently at the lower boundary of it.
Zooming in, we can notice that the price has broken out of the descending channel plotted on the chart and re-tested the local structure.
The current 8H candle has left a long tail to the...
NZDCHF is nicely recovering after a sharp bearish rally.
Reaching a major weekly demand zone, the price completed a harmonic abcd pattern.
On 4H time frame, the price formed a double bottom formation and broke a rising wedge pattern to the upside.
I expect a bullish move to 0.6055.
❤️If you have any questions, please, ask me in the comment section.
Analysis of #GBPUSD
the GBPUSD might keep on falling to test its key support level near 1.2000, which could provide a reason to get in a buy trade if the market provides a bullish confirmation, Pin Bar, double bottom, or head and shoulders on the lower time frame.
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Hi, I hope the coming week will be a profitable week (:
The price is moving inside a descending channel.
If we ignore the triangle pattern, considering the yellow range and the type of previous movement (inability to enter the $10.817 range), we should have a reaction to the $9.733 range.
I prefer to close 75% of my sell trade at the $7.364 price range, but I...
Last 1-2 weeks ago my overall view on the lower time frame for GOLD was to wait for bullish price action to have a potential buy in short term.
Price however didn't form the continuation price action on the lower time frame for me to consider any entries.
Instead, structure/pattern can evolve, and in this case, instead of a bullish...