Bitcoin is just below a very strong Supply level at 5.503,52. If price touches this level, it would be a great time to start looking for supply zones on lower timeframes to get in.
Notice how price almost touched this level and fell quickly, this hints me that this Supply level is probably going to hold.
Currently price is approaching a nice supply level at 0.72263 with no clear and strong demand level below (besides that obvious spike). So short trades around that level on lower timeframe supply zones might be a great opportunity to join the main trend of the market. Targets could be all the way down to the most recent support level around 0.7055.
Good trading everyone!!
There is a really nice Supply level above current price at 1.3108 to get in the direction of the Daily trend (bearish). Stops could be just above the level and there are several take profit levels for 2R, 3R and 4R trades.
Good trading to everyone!
Price is currently in a downtrend on the Daily timeframe, shown by the lower highs and lower lows. Also, price has bounced from the Supply level at 1.33773 and is in the middle of the curve until the next Demand level below at 1.28453.
We could take a look at lower timeframes and find supply zones to take short trades, as the odds are on that side.
Looking to take advantage of small profits from the demand levels below, however, we are currently in the middle of the Daily curve, so we should be cautious with either taking supply or demand levels. The supply level at 1.1316 has not been taken out yet, however, there is some divergence from oscillators so I expect price to touch the demand levels below...
This pair is currently trading in the middle of the Supply and Demand curve on the Daily timeframe. Based on structure, the bias is bearish, however, the Demand zone at 1.1195 is in control, so overall entries on lower timeframes should be cautiously bearish. Let's see how this pair develops for the rest of the week. If price manages to go higher in the curve, I...
Noticed today that there is a very nice confluence of a Gartley pattern and a Demand zone on the 15m chart, with another Demand zone sitting just above. The zone of highest probability to me is between 1,1192 - 1,1198, with first target around 1,1226, which would give us a nice almost 3:1 Risk to Reward.
Good luck everyone!
Great opportunity as price has already showed a very strong and impulsive move to the downside. So, we are looking to sell at the zone where there was an imbalance between buyers and sellers.
Let's hope for the best, but a great 2:1 trade opportunity!!
Just an idea on where to short the EURUSD pair, as there is a confluence between a strong structure level, a great formed supply level and the 61.8% retracement level.
Let's see what happens, but a sell limit order might be the best choice!
Good luck and good trading!
What a great demonstration of the market of what structure and harmonics can do for your trading. A great opportunity and a very high probability setup to enter long in the market has come up with a Bat pattern (D completion with perfect ratios alignment from different swings) and great structure levels to define targets and stops.
So there you go, an amazing...
Right now I'm watching very closely as price is just above my entry for this trade, just buying on structure level to continue to the upside as price rallied very strongly stating that demand is currently greater than supply, or in other words, buyers seem to have taken complete control over the market and are resuming the MT and LT bullish trend.
Let´s see what...
After the impulsive selling from Tuesday, price has been in a corrective structure for almost twice the time than the impulsive move. At both extremes of the impulsive move there are two zones of interest for price to react to.
As we can see on the chart, price already has touched the buying zone by the pip and have slowly reached a decent 70 pips profit...
I have outlined what I think might happen this week with the pair. A Bat pattern seems to be forming with the B point completed, although it might continue further and turn into a Gartley. With this B point, we can take the 61.8 retracement as an entry in confluence with some congestion zones in past price action to take a short position to the D point of the...
Price has almost hit the completion point D of the purple Butterfly pattern, which is in confluence with the 127.2 - 141.4 extension for the C point of the white Cypher pattern, so a nice play could come out of this harmonic moves.
I'm currently waiting for price to move a bit more to see if I can get the Butterfly pattern to complete and enter this market, with...