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On daily bullish engulfing pattern is formed at daily support level, so we have to wait for retracement to the level and must buy after bullish candlestick confirmation. But this is market and anything can happen so follow the price action and take entry near the zone based on bullish or bearish evidence.
The counter has completed its short-term bull cycle by completing 5 waves.
It is taking support at the lower levels and is absorbing the selling pressure by forming an ascending triangle.
The resistance of 72.50 currently caps the rally and a breach above it can result in significant short-covering in the counter.
Hence, we advise traders to buy only above 72.5...
Od the Daily chart how you can see on daily candles there is strong buying activity.
So in this case like that i am looking for the trend setup.
Trend setup bassically means that you are looking significant volume cluster. Like right now on Gold market around price level 1416. This is very strong
volume cluster created in rotation.
I expect that when market...
This week was nice sell off on EURUSD...
For that reason can you nice to see significant Volume cluster, where is accumulation many orders.
I expect that this significant Volume cluster will be Support and Resitance for next week...
When you select all area of the year 2019 and use Volume Profile ... So you can find POC ( Point of control ) of the whole year on the price level 82.49.
This is exactly at the perfect price level for short .. Because on same price level is nice to see how strong sellers push price lower and lower...
1. POC of the year
2. Initiation of strong sellers
The counter has formed a head and shoulder in the short-term charts.
Also, it is formed at a strong resistance zone.
It has now broken the neckline and is just consolidating below it.
Hence we expect the pair to be bearish in the near-term and reach the support of 1.31964.
Today's Chart will be on MATICBTC
Points to consider here are,
- Bullish trend on the 4hr time frame
- Next Major resistance is at around the RED zone
- RSI on upwards momentum, putting in Higher High's
- Stochs looking into upwards momentum
- EMA's currently giving price resistance but looks weak
- Below average volume coming into Apex...
So i have Current market low @ 78.500 i will take this trade back at the retest and have my SL at prev market high at 78.575 which is a 7 pip sl and a gain of 250+ which is about a 2.5:1 ratio which i will take; with that being said im still waiting for it to retest this area i could have entered on the 5 min chart but i missed it so im awaiting if trades does get...
Jerome Powell is expected to speak this week concerning the Treasury note yield curve. We’re looking to see an aggressive Fed to address the potential global recession, which means quantitative easing and another rate cut.
This is a bearish signal for a weak dollar, due to the Fed debasing the currency by increasing dollars in rotation. This could bring in a...
The counter broke a critical short-term support level of 17.08874.
It then pulled back and tested it as well, validating the break.
Hence, we expect the counter to be bearish for the day and retreat to the support level of 16.86499.