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Vicneprince

AUDNZD, Reversal Building, Trade When Formation Confirmed!Hello Taders Investors And Community, Welcome to this analysis where we are looking at AUDNZD 4-Hour Timeframe Perspective, the recent price-action, the current formation building, what to expect the next times and how to handle a possible confirmation of the formation with appropriate trading which is important in such market situations. Looking at the chart you can watch there that AUDNZD is building this preliminary rising-triangle-formation marked in blue where the price already touched the upper and lower boundary several times also with a matching wave count ending with the current wave in the structure. Overall this is a bearish reversal formation pointing to the confirmed downside when the price closes properly below the lower boundary of the formation with a second touch of the lower boundary before a continuation to the downside can be considered. When looking on the bullish perspective the possibility is highly marginal the bearish one much more likely nevertheless a close above the higher boundary can invalidate the bearish scenario and therefore the formation. This breakdown can be traded either aggressively or conservative, the aggressive approach is an immediate entry in the triangle, the conservative is waiting on the confirmation then placing the order, the first target will be the 200-EMA marked in blue when this level does not hold the pair has increased potential to move lower. In this manner, thank you for watching the analysis, support for more market insight, and all the best! Information provided is only educational and should not be used to take action in the market.
by VincePrince
3
XRPUSD, Moving In Decisive Channel, These Are Important Levels!Hello Traders Investors And Community, welcome to this update-analysis looking at XRPUSD 4-hour timeframe perspective, the recent events, the current formation, what to expect next times and how to possibly handle upcoming situations appropriately. Since last time XRPUSD developed its expected lower low which confirmed at the 0.257 level and bounced there validating support at the 300-EMA, this was an preliminary important move in this structure and it is serving as a reference point for the current little rallies we see in XRPUSD, the important question now is if XRPUSD manages to move above the upper boundary of its descending-channel-formation or if it firstly continues with its downward movements before the channel is confirmed properly to the upside. In this case, I detected the importance we should consider in the structure at the moment to anticipate further outcomes in the right manner. Looking at my chart you can watch the established descending-downtrend-channel marked in black where the price is consolidating and already touched several times the upper and lower boundary, what is important to note here in this structure is the clean bounce from the 300-EMA marked in orange where XRPUSD has still strong support lying and a high possibility to bounce again when touched in this area. Taking these factors together XRPUSD is building a triangular-cluster consisting of the upper boundary of its channel and the 300-EMA, the triangular-cluster is marked in orange and it will serve as a breakout point either to the up or downside, by the fact that the descending-channel will confirm sooner or later to the upside and with the strong 300-EMA support here a breakout to the upside is more likely currently as the one to the downside, concretely it can happen with a 65 % possibility compared to a 35 % bearish possibility. In this manner, thank you for watching, support for more market insight, all the best! Information provided is only educational and should not be used to take action in the markets.
BITFINEX:XRPUSD
by VincePrince
11