here i break down the actual sentiment and how to look at price, if considering wicks you will start to get confused because you'll see most times wicks pierce the recent low or high. which is okay however, that doesn't mean that it broke structure (don't get me wrong, maybe on a different TF it did but this is where the confusion comes in). volume tells the real...
Will we wick into the red zone?
This is my long term BLX chart. The basics are the curved logarithmic regression lines. Vertically the halvings are marked.
I haven't touched the full lines in quite a while, they seem to be holding up very well. Can you imagine someone trying to liquidate everyone up until 2x?
The red area looks the ultimate pain zone to me....
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AUD/CAD Analysis - We expect price to head upward as its currently rejecting daily support and showing wick rejection on the 4 hr. Also have a flag after impulse leg. Target is right before Daily resistance highlighted zone.
Be sure to follow the entry criteria rules...
This huge, out of place (way larger than the rest on this time frame) candle means that price went out of the zone so fast that orders were left waiting. And apparently a lot of orders. Since it took price about 27 hours to get back there. Otherwise, price would not have returned.
March 11, 2021
I shamelessly deleted my bottom ascending trend line on this ETHUSD pairing to adjust for some near-term, bullish, consolidation that is happening.
This consolidation is making the price-target higher, but pushing out the timing.
On this 4hour chart, closing candles are holding the 25day moving average, and wicking down to the 40day moving...
There was a long red wick on the weekly chart on the ninth of November,
meaning a future down trend, at least in my opinion it does,
Plus it broke my white support line.
So it’s going under 262.00 to 258.40 or maybe 255,
But it’s in a great buying opportunity range under 260.00.
Happy Holidays, and safe trading everyone.
Pay attention to the level that price went to. Wicks are very important to decide when a reversal is about to happen and the longer the wick compared to the body of the candle can be used as an indication that price is going to go the other way. Subscribe for more and trade what you see
As covered in our weekly outlook session with our students. This has the potential to be a scalp that moves into an intra/swing position.
This time frame (4Hr) shows a considerable amount of liquidity just above.
I simply cannot class this current collection of price action as a double top due to the fact that the price did not move into a rejection directly at...
This pair is showing serious sell signs and I think its now the time to jump any positions on this. Looking to reach my first target within this week and my next one, the next week. We got multiple strong confluences on this pair on multiple timeframes. Lets see how this one goes. #tradesafe #theforexdaddy