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Gold 1900 test is coming this weekOn the HTF gold is quite overextended and either a retracement or a full reversal need to occur at some point, so i've patiently wait for a short setup to show, and i think i've found it. starting from left we see a bullish flag that even if broken didnt show much bullish strenght, instead evolved into ascending channel, which now seems about to break, we have once again reached the bottom of the channel but now instead of bouncing we are forming a bearish continuation pattern ( triangle or flag), i shorted friday and i think next week we will go and test 1900 , and after that i will evaluate the situation again. what do you think?
OANDA:XAUUSDShort
by Erth_
selby_exchange - BTCUSD - 1hr - Selby Bitcoin Fibonacci TestSelby Bitcoin Fibonacci Test for BTCUSD Bitcoin BTCUSD - Inverse Perpetual Futures Price - 1Hour - PHEMEX - Heikin Ashi January 2023 "Fib Test" Custom Fibonacci Retracement Levels Support of 0.666 and 1.333 is Long Entry Rejection of 1.111 and 1.931 is Short Entry Bull Market Continuation is Support of 3.666 Selby finding creative patterns in charts on Tradingview Not advice for investing, but I am one to watch Rebellion=Change=Future
PHEMEX:BTCUSD.PI
by selby_exchange
Microstructural phenomenons: pre-testOn the chart, Oct '94 is a pre-test of 92.26 I'm not sure it's a good example here, but it'll suffice to explain this easy concept. Again, it's not the system's behavior principle, the reason of this microstructural phenomenon is all of us. Forgot to mention before... There's no such thing as, "A new wave started after "almost" hitting a level". NO. In 100% cases, a level should always be touched. because cheap/expansive is always 1 tick past the level, the main responsive activity will be concentrated after the level, never before. However, some of us sometimes gets a lil heavy handed in scaling in/scaling out of the previously acquired position. That's why prices start to react (sometimes quite strong) in front of the level. The main things to learn from here: 1) Pre-tests are not the systemic events, if you're responding at a level / a lil deeper past the level, nothing had changed for you at this points; 2) If you started to scale in before the level and got caught in a pre-test, just simply close your position with whatever revenue this pre-test offers a lil bit later and start scaling in again like nothing happened; Caution: pre-tests are also a part of the recorded market activity as everything else, during which the things may change or may not change. Pre-tests should be taken out of the context and be processed as independent entities.
GEducation
by gorx1
Bitcoin testing supports and looking for a new bottomAs bitcoin has broken through support at 37,000, it is now exploring aggressively the support line at 36,500 respectively 36,000. If support breaks at 36,000, the next support line which Bitcoin can be exploring will be at 35,500 35,500 is also the ultimate support after which an approximate closer bottom can perhaps be seeing at approximately 33,000 Traders should be mindful of both short and long trades. The current Bitcoin trading area is no man's land.
by Mortdecai