Hello, I rely on ICT concepts for my trading. I would like to share a trade idea for Monday, February 13th, 2023. Fundamentals Recap on last week Fed Chairman Powell's comments impact market, causing shifts in risk appetite and dollar. Market focuses on Fed's reaction to potential recession, not US entering one. Tension over possibility of Fed cutting rates...
he potential for the price of Bitcoin ( BTC /USD) to go down could be due to a channel break and retest technical analysis pattern, as well as unfavorable fundamentals. In technical analysis , a channel break occurs when the price of an asset moves outside of a previously established trading range or channel. If the price fails to hold above the channel and...
The overall market structure shifted bearish and bullish divergence is seen on the hourly chart hence the start of a pullback. Going short after the retest of the 1.0700 level since it's a potential Support turned Resistance might be great when used with other confluences like candle stick patterns.
Sell stop. 3 AO in a row second Wiseman trigger. Riding the Elliot Wave. Divergence on wave 3 to wave 5. Taking down to previous wave 4. Previous wave 4 lines up with 50% of structure exactly. Using trailing stop strategy incase it drops further.
Reading price action we can see that USDJPY has shifted up in momentum creating higher highs and higher lows. The price has now broken previous areas of interest and is now testing as new support. Reading the structure we can see the price is creating an inverted head and shoulders in confluence with a flag formation. Notice how the price has failed to break this...
West Texas oil/ U.S. oil. It looks like it may want to push up towards the higher area of supply which has been left unmitigated... Based on the moves we saw last week, which were predominantly bullish towards the end of the week, lead me to believe we could be hunting the high levels of liquidity that lie above our previous highs. If this is the case, it will...
Euro to the US dollar is tapping into a daily demand, just like the other U.S. dollar pairs we have shown in our Sunday markups. We have only broken short-term structures. To the downside on the floor our time frame. So more downside is possible. But without taking a major low we can't rush into any long-term ideas just yet. If we see a significant pullback and a...
As shown in our Australian to U.S. dollar markup, we were in a pretty similar situation with the British pound to the US dollar. The only big difference with this pair is that we haven't broken any significant structures to the downside yet. I'd like to see the structure broken to the downside or liquidity to be taken from above before a new structural low is...
══════════════════════════════ Since 2014, my markets approach is to spot trading opportunities based solely on the development of CLASSICAL CHART PATTERNS 🤝Let’s learn and grow together 🤝 ══════════════════════════════ Hello Traders ✌ This is to show you how I changed my view of the market from...
Locally, EURUSD needs a correction to the upside and in case of a market structure shifts in a 15m timeframe, one could take a long position with targets mentioned on the chart.
The price has shifted gears and now is gaining a bearish momentum. However, since the price is in a discounted area, taking a short position is not reasonable. To take a swing short position one should wait for a retracement. The previous month's low will be an easily achievable target.
The past week witnessed a narrow range, which suggests that the Index appears to be consolidating to retain the previous week’s gains. This can also be interpreted differently that the Index lacks the required momentum to cross 18K. A few observations from the weekly charts are: Weekly charts suggest that The index moved in a range of 264 points viz. between...
Following its largest one-week fall since July 2022 (down 3.0%), follow-through selling failed to surface last week for spot gold, spending the week ranging between $1,890 and $1,852 at the prior week’s session low. Overall, technical studies still suggest bears have the upper hand in the weeks ahead. Having noted the Relative Strength Index (RSI) rejected the...
The technical analysis of Ethereum (ETH) suggests a potential downtrend in the near future. The stochastic indicator, which is used to identify overbought and oversold conditions in the market, has shown that the market is currently overbought. This means that the price of ETH has risen significantly and may soon experience a correction. In addition to the...
Balance of buyers and sellers on the GOLD pair, that is best felt when all the timeframes are analyzed properly is shifting in favor of the buyers, therefore is it only natural that we go long on the pair. ❤️ Please, support our work with like & comment! ❤️
ABOUT GOLD: Gold Price Forecast: XAU/USD hangs near one-month low amid stronger US Dollar TECHNICAL ANALYSIS: Gold price technical outlook: From a technical perspective, acceptance below the $1,855 region (50-day SMA) will be seen as a fresh trigger for bearish traders and pave the way for deeper losses. Gold price could then slide to the next relevant support...
In the Tokyo session, the USD/JPY pair is approaching the critical resistance level of 132.00. The asset is seeing significant strength as a result of the risk-aversion theme and Bank of Japan (BoJ) Governor Haruhiko Kuroda's preference for expansionary monetary policy. The US Dollar Index (DXY) is aiming to break through the 103.00 resistance level as demand...
Past Performance of Bitcoin Bitcoin prices fell on February 9, candlestick arrangement reveals. The coin is down three percent in the last trading day and eight percent in the previous week. The trend is shifting, favoring sellers after a strong performance from mid-December 2022. #Bitcoin Technical Analysis Bitcoin prices fell yesterday, dropping below the...