Bitcoin is just below a very strong Supply level at 5.503,52. If price touches this level, it would be a great time to start looking for supply zones on lower timeframes to get in.
Notice how price almost touched this level and fell quickly, this hints me that this Supply level is probably going to hold.
There is a really nice Supply level above current price at 1.3108 to get in the direction of the Daily trend (bearish). Stops could be just above the level and there are several take profit levels for 2R, 3R and 4R trades.
Good trading to everyone!
Looking to take advantage of small profits from the demand levels below, however, we are currently in the middle of the Daily curve, so we should be cautious with either taking supply or demand levels. The supply level at 1.1316 has not been taken out yet, however, there is some divergence from oscillators so I expect price to touch the demand levels below...
Good morning, traders. Everyone continues to scream that the sky is falling but price action is telling us something different. Even I had taken a quick position that we may have completed subwave 5 even though I mentioned that I didn't like how short it was. After this weekend, I believe that we may not have completed it yet and, as a matter of fact, subwave 5 of...
The daily chart has been showing an uptrend for the past several months, with HH's and HL's beng made. Until the last few weeks, we've seen that price hasn't been able to form a higher high on the daily, but rather a lower high and price has been wanting to fall down since then. In the 4 hour timeframe, we see signs of reversals with LLs and LHs being made. The 4...
USDCHF diverges from the dollar during the euro session and continues to climb within a rising wedge when the dollar starts to fall again.
If we compare both dollar and USDCHF in the D1 chart, we will see that both are trading within an ascending triangle and that sellers are more in control then the buyers.
The dollar has already started to fall while USDCHF is...
Sorry for messy chart. Horizontal lines are related to 4H bearish and bullish order blocks.
Daily Supply Zone and 4H Bearish OB give chance for short setup.
If position closes successfully, i am going to explain clearly why i entered this setup at comments section.
I hope it goes well :)
Didnt quite get to its potential on this trade. Didnt even reach my TP untill it shows massive sell. Hence had to close the trade for only +30 pip.
Really feeling dissapointed on this trade. Market decided not to give ...
Just an old idea, no need to hide it now ;)
Idea is that the price of Bitcoin and other mined tokens follows the supply trend.
As you can see the total number is always increasing, but in Bitcoin's case the rate halves every 4 years leading to an overall diminishing trend which should saturate at maximum supply (21 million tokens).
This is one of the reasons...
Good morning, traders. As you are likely aware by now, price took off last night and hit a high of $5080 (~$150 above the 1.618 extension off the first wave in December 2018) just above the daily R4 pivot as I have been attempting to prepare everyone for as an increasing likelihood of happening due to price action and volume, especially as of late. I hope we stop...
The execution of harmonic trading is just like a swimming or running contest, everyone makes very similar decisions. (--The God of Cookery, 1996)
Here we got an 4hr bearish bat for USDCAD and I believe all the harmonic traders over the world are paying attention to it.
So why not! I don't want to risk to miss the successful standard pattern at all , while I'm...
Currently price is approaching a nice supply level at 0.72263 with no clear and strong demand level below (besides that obvious spike). So short trades around that level on lower timeframe supply zones might be a great opportunity to join the main trend of the market. Targets could be all the way down to the most recent support level around 0.7055.
Good trading everyone!!
Price is currently in a downtrend on the Daily timeframe, shown by the lower highs and lower lows. Also, price has bounced from the Supply level at 1.33773 and is in the middle of the curve until the next Demand level below at 1.28453.
We could take a look at lower timeframes and find supply zones to take short trades, as the odds are on that side.
This pair is currently trading in the middle of the Supply and Demand curve on the Daily timeframe. Based on structure, the bias is bearish, however, the Demand zone at 1.1195 is in control, so overall entries on lower timeframes should be cautiously bearish. Let's see how this pair develops for the rest of the week. If price manages to go higher in the curve, I...