Looking to short AUDUSD as it rejected a trendline and 38.20% FIB Level. We will also be monitoring the DXY(Dollar Index) for correlation and more confluence. A break and retest below 0.65200 psychological level support will give us a proper confirmation to go short. I will be shorting this pair now but with extreme caution and add more orders upon the break and...
JPY goes bullish, that's why its good idea to sell every currency pair against JPY. All currency pair against JPY is overbought. Conditions: 1. Daily RSI divergence 2. 4h RSI divergence 3. Break under 170.000 4. Retest 170.000 psychological level Now just waiting for the entry formation 👀 Or just play stop sell order under the Higher Low
In the dynamic world of trading, it is widely acknowledged that strategy and market knowledge are essential for success. However, there is a critical aspect that often goes unnoticed but holds immense power in shaping trading outcomes: the psychological dimension. The psychological aspect of trading encompasses understanding and effectively managing emotions,...
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It's a personal opinion of mine that psychological levels, whole number resistance and support, should have this much control over price action. Psychological levels have the most effect when there's extremes of emotions. I feel it's rather self-explanatory. It's either going towards zero or it's getting bought to prevent it from hitting the pavement. The...
1️⃣ MARKET STRUCTURE The market structure has a significant impact on the formation of prices, dissemination of information, and execution of transactions. In the context of stock trading, market structure can also refer to the pattern of price movements in a downtrend, characterized by lower highs and lower lows. This pattern indicates that prices are...
Still Neutral on NFLX, Going to see what it does today for possible either way. Let me know your thoughts on NFLX.
D1 - Price respected a psychological level and is bouncing higher. Bullish divergence. H1 - Bullish divergence. Higher highs. Until the strong support zone holds my short term view remains bullish here. If we get a valid breakout above the high at 0.98050 we may then consider it as a validation for this bullish view.
D1 - Price is bouncing lower from a psychological level. Multiple false breaks with bearish divergences. Expecting short term bearish moves to happen here. H1 - Bearish trend pattern. Currently it looks like a correction is happening. Bearish hidden divergence followed by bearish regular divergence. Until the two strong resistance zones hold my view remains...
D1 - Price respected the psychological level 1.55 and bounced higher. Bullish divergence. Expecting short term bullish moves to happen here. H4 - Bullish convergence. Currently it looks like a pullback is happening. Until both the strong support zones hold my short term view remains bullish here.
Bearish trendline has broke on a beautiful downtrend and retested as support several times. It rejected at $1.10; next important level to watch is near $1.30 $OP is a new project, so there not enough historical price data.
D1 - Price is bouncing lower from a psychological level. Bearish divergence. Expecting short term bearish moves to happen here. H1 - Bearish trend pattern. Until the two strong resistance zones hold my short term view remains bearish here.
After studying GU for quite a while, I know what to expect, a fakeout is possible at this point, to make the 3rd touch of the Trendline of the new downtrend that started last Friday, looking to go short at that level with rejection, or a candle closure in my direction. This is not a financial advice, practice proper Risk management
Strong fundamentals and the action of price both support the sell from the psychological level at 1.13500. Price action + technical indicator (preferably one of the oscillators) = Divergence Price made a high broke it and made a Higher high on the chart and on the RSI. Iit made a high and a lower high, price couldn't break that high on the RSI and viola,...
D1 - Price is bouncing higher from 1.03 psychological level. Bullish convergence. Currently it looks like a pullback is happening. H4 - Higher highs. No opposite signs. Until both the strong support zone holds my view remains bullish here.
Simple set up on GBPAUD. Anticipating GBPAUD to continue its bullish direction into around the 1.88 level. As we can see price appears to have found a new support at the 1.86 prior resistance, it is also supported by the H1 EMA. Psychological levels are super accurate with this pair a lot of the time i find. I expect a rise now to meet yesterday's high. Decent...
After this week's bearish rally of EU the prices seem to stop to build a pre-continuation accumulation structure. Mr. Wyckoff comes into play with a clear PS (preliminary support). Glad to see it around this area, as we're clearly 'touching' a lower channel line (1H structure). What can we expect? As usual some fakey fakey(!) should come into play, not only...
I have been following GBPUSD's recent decline from the 1.38000 level over the past few weeks across various intra day positions. I am anticipating price to fall further toward the September low at the 1.34000 psychological, which is also it's lowest price since December 2020. I have entered another short position today following the retest of the 1.36 level,...