- Elliot Wave 4 completion
- Supply turned demand zone
- Fibonacci cluster zone support
- High volume profile node support
price is retesting the old resistance turned supply from the breakout, looking for a continuation of the longer term trend.
Although we are in a strong downtrend due to the strength of the dollar, price has entered a key zone, namely a previous supply zone turned demand with the last move out of the zone being an 800+ tick move up with strong momentum. Looking for a bullish reaction out of the zone with a harmonic shark type pattern also forming and a fibonacci cluster zone.
Here I'm looking for a short setup on Ethereum due to a combination of factors:
- Elliott Wave 5 wave sequence completion
- Corrective wave C setup
- 3 week trendline break and retest
- fibonacci cluster zone at demand target zone
High volume node test as resistance
Looking for around 3:1 reward: risk on this trade
Several factors pointing to a bullish bias :
-Fresh Demand zone
-Fibonacci cluster zone
-Bullish Harmonic Shark pattern
-13 Month trend line support test
Trading on the side of the trend here since we have yet to make a lower high or lower low
Time commonality during waves 2 and 4 corrections are both 39 days.
A combination of the following point to a bullish bias:
-Elliott wave 4 completion
- trend line support test
- fresh demand zone test
Here I see a clear 1 month long range, and price at the supply level of that range. Also there is an AB=CD bearish pattern, and I expect a continuation of the range and price to depreciate. Risk here is above the high made on 3/28, for a 3:1 reward: risk setup.
Here we see price retracing to a fresh supply zone that also meets a fibonacci cluster, high volume node, and short term trend line resistance. Because of the momentum of the sell-off when the supply zone was formed, I see this as a solid setup short. 3:1 reward: risk setup
This is a countertrend trade so not considered a high probability trade, however there are a few factors pointing to a bullish bias at least in short term:
- bullish harmonic shark pattern
- test of strong demand zone
- trend line support test
- fibonacci cluster with an extension and projection in the demand zone
Looking for price to push up to the next fresh...
Here we see price reaching a level with several confirmations pointing to potential bearish reversal:
- Fresh supply level test
- Bearish harmonic gartley pattern
- high volume node north of the value area (volume profile) resistance
- reversal candles at the supply level
looking for a 3:1 reward: risk setup with risk above the supply level.
We see here price reacting off the supply level and forming a harmonic shark pattern. There is also a fibonacci cluster at the next demand level. Not enough confirmations to be considered a high probability setup, but a nice risk:reward if it plays out this way.
Several factors pointing to why my bias is long on this pair:
- It is the strongest pair vs. the dollars rise during this recent bull run by the dollar, pointing to a potential stronger bull move when dollar reverses
- Harmonic shark pattern at the demand zone
- Fresh demand zone test
- Fibonacci cluster inside the demand zone
looking for 2:1 reward: risk on this...
Several factors pointing to a potential appreciation in the pound, setting up a nice long bias position.
Price is testing a 5 month trend line and showing signs of bouncing off it nicely
Price is testing a fresh demand level which also aligns with the trend line
there is a fibonacci cluster in the demand zone as well
With the above factors lining up in the same...
Here we see price approaching a significant supply zone, where it has tested previously. The last sequence was a touch and then a retest to form an M before a large push down. The last time it tested this level there were 6 days between testing of the levels, this touch today makes 6 days between touches of the level once again. Could we see another M formation...
Here we see price pushing down to a buy level with a few confirmations making this a consideration for a high probability setup:
- test of fresh demand level
- which also happens to be the retest of the trendline resistance turned support
- and a high volume node which acts as support
- as well as a bullish harmonic pattern formation
looking for a 3:1 risk...
Price is yet again testing the 2 month trend line resistance, this time its forming a bearish head and shoulders price pattern. It has yet to break the supply level, and being that it is at a point where its testing the supply level, trendline resistance, and forming a head and shoulders, I consider this a high probability setup for a 3:1 risk reward short setup.
EURUSD has paused at a significant level, with several factors pointing to a potential down move including:
- 2 month trend line resistance test
- double top price pattern
- supply zone test
- price outside of the volume profile value area, with potential for a mean reversion to the value area
- a look at the dollar index shows price at a significant support...
EU/USD is showing signs of a possible short setup. After an upward push to start the week during london session, price is looking to test a fresh supply level, where it dropped hard and fast for 80+ ticks. Given that this is the first test of that level, I expect a bearish rejection. Additionally there is a fibonacci cluster zone in the supply zone as well as a...