These rays from January 2015 can be used to plot almost every candle top, bottom and wick.
Next time we drop I think the wick could be anywhere between 4760-4640 as its a bit of a drop. I think the price will be pushed back up to 4820-4840 for the candle close and bounce. Left side shows volume profile for October / November last year when we were at this price level Righ side shows current candles and order blocks to match up with the left
It came to me in a dream, and I forgot it in another dream.
Hey guys, Checking the EURUSD right now, which is sitting on a very important zone on the daily chart. For me price still holds the support zone and formed a head and shoulders in some way. Anyway the wick forming today is a nice indicator for further bullish moves. Lets see if it confirms. Any updates will be posted...
This is the only broker chart I saw with that wick. The others haven't even broke the supply level yet. I have been skeptical of it dropping down that much. At least on this chart it completed a 7 swing "B" wave. I've been talking about the buy I see coming on this. Maybe they know something others don't.......
Nice run! Finally! With bull volume! But we are getting overbought on the short time frame and therefore need to see a steady pull back in price with low bear volume before another leg up. Wick on Daily bar insinuates a pivot point in current trend. J on KDJ (yellow) shows short term overbought. 100ema smacking bitcoin as price resistance with 200ema right...
Bulls defending all dumps, now to attack that downtrend line on the log once and for all
We got a lovely rejection wick off the daily on Friday and it beautifully bounced off the 200dma and a falling trend line. Great bit of confluence. Stops above that wick and shoot for a 50% retrace on that type of move the 50 back gives us a RR ratio of 3.5-1. Might even get down to previous lows if wanted to stretch for longer targets but don't be greedy.
ETHUSD Update: 390 high has been reached followed by immediate selling back to 365 as bullish momentum continues to flow in this market. The current candle is showing possible signs of a bearish wick, and I am watching this price action carefully. Momentum and trend are two separate variables when it comes to price action. It is possible to have bearish price...
PA has struggled on the weekly leaving some nice wicks. Looking at the Daily time frame it's easy to see some levels. I'd prefer to see the shooting star from 2 weeks ago get tapped on the inside (as often happens) then go short but if wicks are your thing and it works for you then go short now. I've then got my eyes on the level that has acted like a magnet for...
Hi traders, On the USDJPY I'm entering long, based on the wick that was formed during the last 4H candle, indicating some real bullish power. Entry: 116.677 Stop: 116.137 Target 1: 117.638 = R:RR 1.78 Target 2: 118.585 = R:RR 3.53 Good luck guys! Updates will follow.
Three main reasons for selling: 1. Very long at resistance 2. Psychological level of 1.00 3. Current body engulfs previous candle body Entry at current levels: 0.99 Stop Loss: Above the high of candle, 1.007 Take Profit: Trailing exit but ideally 0.96