Art_of_Trading

Art_of_Trading

The Bat pattern is completed on Ciena Corporation daily chart. Nice risk/reward ratio. T1 – 38.2% T2 – 61.8%

Art_of_Trading

The market almost broke the resistance level, but then retraced back and went down. It was a false breakout. The sellers got the control of the price again and I expect this downward will be continued.

Art_of_Trading

There is a potential opportunity for structure traders. There is the resistance level at 171. The price respected that level few times and it is more likely it will do again. We know the big orders usually are placed at those areas and I expect the sellers are ready to step once it reaches the red box.

Art_of_Trading

The BTC price did not make much move last few hours. It is consolidating at the same area. There is a structure level at 8605 that acts as resistance. It is the key area, where most likely sell orders are placed. The price could not break the resistance and rejected few times. I think, the more sellers will step in and push the price down. Moreover, the buyers...

Art_of_Trading

The Bat pattern is almost completed on H4 GBPUSD chart. This will create the opportunity for harmonic pattern traders to go short with the nice risk/reward ratio. However, there is a strong buying momentum. The more conservative approach will be to wait for this momentum and volatility to be stopped and then enter. T1 - 38.2% T2 - 61.8%

Art_of_Trading

The XRP price increases significantly (log bullish bar) yesterday. However, it stopped going up and found the resistance point at 0.670. Then, it started moving sideways and none of the participants (sellers and buyers) got control of the price. However, there is a resistance level at 0.7071, where the new selling orders are placed. However, I expect the price...

Art_of_Trading

The Ethereum price went down last few weeks and it is more likely that it will be continued. The currently we are seeing the correction leg, because the sellers lock their profits that pushed the price little up. However, that correction move completed at 560, which also matches Fibonacci retracement of 61.8%. The market was rejected there few times that acts as...

Art_of_Trading

The BTC market is trending downwards. The price makes the lower lows and lower highs. It is a clear indication that the sellers are full control of the price. Thus, the best approach here to follow the trend. The BTC just completed its correction move and it is more likely that we see a new impulsive move now. The price tried few times to break the mini structure...

Art_of_Trading

The EURAUD price was increased significantly last few days. The market got closed to the resistance zone at 1.5936 and completed the bat pattern formation. The selling orders are expected at the resistance, plus bat pattern increases the probability of this trade. I await the market open on Monday to avoid any unpredictable move and then go short. T1 – 38.2% T2 – 61.8%

Art_of_Trading

The Litecoin priced was dropped significantly last few days, The next structure low is at 108 that acts as support. If the price continues going down at that point, it will create a buying opportunity. The price respected that level twice and it is more likely it will do again. Moreover, there is a potential bat pattern formation, which increases the probability...

Art_of_Trading

The BTC price moves sideways last few hours. There is a structure level at 7765. It was acted as a support, but became a resistance after the breakout. However, it was not a strong breakout, because the BTC market did not continue going down. It retraced back and backtested that structure level twice. It creates indecision scenario, where none of the parties...

Art_of_Trading

There is a potential selling opportunity here. The price going down last few hours, but if it goes up at resistance level (0.7051), this will create a selling setup. The price respected that level many times and it will more likely, it will do again. The new selling orders will be placed at that resistance level, that push the price down.

Art_of_Trading

The BTC is going down last few hours. The price formed the wedge pattern. However it broke the trendline and selling momentum is building. More sellers will join and it is expected to go down to previous structure low at 7700 area.

Art_of_Trading Updated 

The BTC broke previous support at 8448 area with strong bearish bar. This same support now acts as a resistance level. The price went little down, but seems some sellers started locking their profits. This reaction pushed the price up. If the price goes close to the breakout point, we may see the structure backtesting. The more selling orders expected to be set at...

Art_of_Trading

The EURJPY price went down last few days and getting close to the major resistance level at 130.60. This is the area, where the most buying orders are expected to be placed. Moreover, the sellers will lock their profits, which will push the price up as well. Also, the price completed the cypher pattern formation. This increases the probability of this setup to go...

Art_of_Trading

The RIPPLE price moves are very correlated to BTC moves. When the BTC falls, the ripple usually follows its reaction. There is a similar setup here. The price brokeout the support level. However, there are some buying orders last few hours that pushed the price up. If it continues going up and reaches the breakout zone, we may expect the backtesting scenario. The...

Art_of_Trading

We have seen the bearish breakout yesterday at 8500 area. It indicates the sellers got control of the price and the BTC fall continued. We did not see any completed bullish bar since yesterday on 4H chart. It is expected that the more sellers will join this selling momentum and the BTC price will go downwards. The next structure low is at 6000. This is where...

Art_of_Trading

The BTC price went down last few hours and getting close to the key support area at 8453. The price acted on that level few times and it is more likely it will bounce back again. The buying orders are expected to be placed at that support. Plus, sellers will lock their profits, which give additional buying momentum to the price. In addition, the price is forming a...