As price is close to the key support level, the long position would be nice decision if final confirmation is on. need to see nice pinbar or bullish engulfing candle.
EURUSD update: The swing trade long from 1.1745 is now in play. In this report I am going to explain the reasoning behind this long, and what adjustments to consider in the face of conflicting price action if it nears the bearish trend line. This trade was called on S.C. around 10:30 AM EST today. The price action over recent weeks has been clearly bearish. For...
EURUSD update: This pair is poised to go lower based upon the bearish momentum in play on this time frame. The 1.1764 level is still in play and we are watching price action around this area carefully for a bullish reversal. On S.C., we evaluated this market on Friday and described details of a potential swing trade long. That trade idea is still plausible, but...
BTCUSD: Price is now retesting the 8044 reversal zone boundary. This is an attractive area for longs but there is no signal in place. How the next candle closes will provide important clues as to whether there is a signal worth taking. Drama, it's everywhere. As soon as price moves more than people were expecting, the first thing they seek is "Why?". A story of...
Looking at Bitcoin in the long-term using weekly trend lines, the recent Bearish reversal happened on 5/5 at a high of $9948.12 when a Bearish weekly trend (upper solid red) crossed with a Bullish weekly trend (upper black red). Taking the theory to the next step, a lower Bearish weekly trend line (lower solid red) may cross with a lower Bullish weekly trend...
S&P500 Update: This market has broken above the bearish resistance line after the appearance of a bearish pin bar within that area. Price is now nearing the 2710 to 2751 resistance zone which makes it vulnerable for the next retrace. The failed low off of the 2615 to 2587 support zone (.618 of recent bullish structure) is an important clue when it comes to the...
BTCUSD update: Price fluctuates around the 9861 reversal zone boundary as it breaks an inside bar in an attempt to go higher. Great price action if you are long, but as price continues higher, the risk of retrace increases. Price is now pushing further into the 9683 to 10561 resistance zone (.618 of recent bearish structure). For the short sighted, it appears...
GBPUSD update: A strong dollar move pushes this pair into an attractive support level as price attempts to find some stability. If it can trigger a long, it will be very important to be proactive when it comes to position management. The key level here is the 1.3551 which is the reversal zone boundary relative to the 1.3712 range low. This means price is within...
BTCUSD update: Price is fluctuating within a reversal zone defined by the 9861 boundary level. The fact that price does not reject this level quickly can be interpreted as a sign of strength but being in an unattractive location along with no trade signal prevents us from issuing a buy signal. Even if price appears to by going higher. Price is still fluctuating...
GBPUSD update: Price has broken below the nearest reversal zone boundary at 1.3988 and closed weak. It has also shifted the bullish trend line which means it is best to avoid this market until it stabilizes in the near term. Trend lines serve as a visual guide for potential reversal levels in the future. When a trend line is broken and needs to be adjusted, it...
BTCUSD update: Price is sitting at the old support/new resistance level of 9225 after an attempt to retrace higher. Even though price is still above the bullish trend line, it is not the best scenario for a swing trade long because there is no clearly defined setup. Setups are important because not only do they indicate an increased probability of a particular...
GBPUSD update: Price has pushed below the bullish trend line and has tested the 1.3965 previous low. It went as low as 1.3918 which is not far from the 1.3883 reversal zone boundary. This is an area that I am watching for swing trade longs. Even though you can make an argument that the current price is within the middle of a very broad range, the fact that there...
GBPUSD: Price is now pushing into the extreme zone which has a defined upper resistance boundary of 1.4423. Price is also sitting just above the 1.4345 high that was established back in January. The probability of a bearish reversal is high, BUT until there is confirmation, the bullish momentum can continue to drive price higher. Keep in mind, if price is going...
Expecting a downward move after second rejection of topside at 1.4240-50 range Lets see what happens
Potential to see a good setup here for a long term trend reversal - if the line holds...
D is our Entry point But don't forget 0.7321 is our minor resistance lable So, D to 0.7321 is our sell zone. risk 2% (1% is better for your account) follow me on Tradingview
ETHUSD update: New low made at 448 as price pushes into the next reversal zone and hesitates. New lows are a bearish sign, especially when they are occurring below the major support zone. Is this a signal to get short? To exit altogether? No, as ugly as these markets get, it is important to recognize that they are still in an expanding ecosystem. Remember I am...
Price at a reversal area, where we can see some sensitivity to this zone..