As it can be inferred from the graph, the $1764-$1770 area of support has been nicely respected by the price and we have witnessed some massive bullish movements. As the general principle states, after an impulsive move, a correctional move is a MUST. We are expecting for the price to correct till the previously broken zone of resistance now turned support, which...
If we are being quick and straight to the point, here are the reasons to look for a short position: -The sentiment of the market is clearly bearish -The price has nicely rejected the local zone of resistance -Judging by the few previous 8H candles, bullish pressure is not strong enough to drive the price to the upside When it comes to the target, setting it at...
As it can be inferred from the chart, after being in a downtrend since the end of October, the price reversed in the beginning of December and is now in a massive bullish uptrend. A nice bottom is currently being formed around the area of 0.236 Fibonacci retracement level. Moreover, the 38.2% Fibonacci level perfectly lines up with a previously broken zone of...
As we can see from the graphical illustration, the price has formed a nice range and is trading within the borders of it. A nice top is currently being formed at the upper boundary of the sideways moving range and we can see some signs of a potential drop that may happen. Our target will be set at the lower boundary of the range and even below it, as we expect for...
The sentiment of the market is still supper bullish. As it can be inferred from the chart, the price has formed a nice bottom on a zone of demand that aligns with 0.5 Fib retracement zone. We are now waiting for more confirmations on lower timeframes, before launching long positions and aiming for the previous Higher High, which is indicated on the graph.
As predicted last week, the price indeed bounced off the crucial zone of support nicely and rose all the way up till the 152.500 area of previous support turned resistance, which also lines up with 61.8% Fibonacci retracement level. A massive wick rejection can be observed on the DAILY timeframe and a huge bearish engulfing candle on the lower timeframes such as...
Hey, wizards! Happy Thursday and welcome on another Educational Post. The topic is the following: Myths and Reality of Trading. As you may already know, there are so many false statements that beginners run into before starting their trading journey. Those statements are illustrated on the layout and interpreted below: 1) Most people think that trading is easy...
The price of BTC/USD has been dropping for the past couple of weeks. At the moment, there are no sings of a bullish reversal, and therefore our bias remains bearish. A nice descending channel has been formed and the price is ranging within the borders of it. Being at the upper boundary of the channel and nicely rejecting it, we are pretty optimistic that the price...
Similar to the situation that we have on NZD/JPY, AUD/USD is also consolidating around the area of previous support turned resistance. We are expecting for the bears to keep dominating and push the price into the 0.7 area or even lower.
As it can be seen from the graphical illustration, the price has formed a mini-range and is currently consolidating within the boundaries of it. Due to the fact that the overall trend is bearish, and the last few candles have illustrated bearish power, we are expecting for the price to keep dropping and reach the area of support identified on the chart
As it can be inferred from the chart, a massive Descending Triangle is being formed and the price is currently consolidating at the lower boundary of it. We are expecting for the price to touch the zone of support one more time, before launching long positions and aiming for the descending trendline indicated on the graph. Happy trading, everyone!
As it can be inferred from the chart, the price is consolidating around a crucial area of resistance that nicely aligns with 50% Fibonacci retracement level. We are expecting for the price to keep dropping till the area of support indicated on the graph.
As it can be interpreted from the chart analysis, the overall trend of the pair is strongly bearish, as the price has been dropping for a couple of months now. While the price is ranging within the boundaries of a formed triangle pattern, we are positive that the lower boundary of the formed pattern will be broken and bearish moves will resume. If the price...
As it can be observed from the graph, the price is currently trading within the border of a descending channel. The overall trend is bullish, therefore, our bias is bullish as well. The recent closure of a super bullish H4 candle gives us another confluence and backs up our bullish sentiment. We are now patiently waiting for the price to keep rising and reach the...
As it can be inferred from the chart, the price is currently rejecting an important zone of previous support turned resistance that perfectly lines up with 61.8% Fibonacci retracement level. We are expecting for the price to keep dropping an reach the area of previous Lower Low (78.8)
Taking a look at the chart of EUR/GBP, the price has strongly rejected the area of 0.859 and has been dropping non-stop. After a strong impulsive move, a pullback (correction) is a MUST. Therefore, we are patiently waiting for the price to produce a nice pullback into the 0.853 area, before possibly dropping all the way till the 0.838 area of strong support as...
Hey, wizards, hope you are all having a great week so far! We would like to welcome all of you on another educational post, the topic of which is Multi-Timeframe analysis and multiple confluneces involved. As it can be inferred, the Monthly and Weekly timeframes are used to determine the direction of the market, the Daily timeframe is used to identify key areas...
As it can be inferred from the graph, after failing to form Lower Lows, bulls stepped into the game and drove the price up. Moreover, strong bullish candles have been printed and the price neatly broke out of the descending channel. The overall bias for this pair remains bearish, but on the lower timeframes, we can clearly see that at the moment the price is...