Hi! Looks like we hit the intended retrace from the previous USD/JPY idea. Let's see where we go now! Invalidation for the short above the previous highs!
We successfully broke the range downwards, expecting a retrace to retest the level that sent us to the previous highs, and the range low, while targeting one of those previous lows. There's probably some nice liquidity resting below those lows.
Hope you all were safe during the dumpage. Let me try to explain what happened here on the daily time frame. Check out the red level and later the green daily support block and try to notice what happens each time the price goes down to it. When we have repetitive pounding on an important support, but the price makes a lower high each time, it signal that the...
We got a nice retrace to the optimal fib zone, wicked just past the block that sent us to previous lows, AND made a Swing Failure Pattern on the hourly chart. This looks to me like the price took the stops to the left and wants to go lower than this.
We've made a higher high, which is a good sign, now we have to retrace before attacking new highs. I have this gray 1H block and the red pivot level marked as possible levels that should hold as supports right now. If we bounce from there, there's the next target marked as the yellow line which is a previous high. Trade safely!
We have a break of that range, now all that's left is the retrace and a target of the next daily resistance level. I'll update when it reaches the daily level, if I see it wants to go even higher.
We're inside a 4H breaker currently, retesting it as support again, and also a nice fib retracement zone. If we bounce from here that would also be a higher low and a good bullish sign for further expansion upwards. If you look below you can see that we bounced from an important daily pivot level too. --------- Colors I use for a more organized chart:...
Looks like we made an SFP and are now sitting inside the optimal fib retracement a bit lower than I would've liked but this seems like a good pivot support + 1H breaker confluence. For better odds in this trade, wait for a break in the market structure on lower timeframe and enter on retrace. Around 3.8 R/R as it stands now, not bad. - Bullish breaker - an...
We've broken some previous highs which is very good. I don't think we're done with the retracement yet until we hit at least some of the fibs in my chart. In case we take off sooner, I'll update the idea. Bitcoin is a bit dumpy today as well. Be careful with that, it like to take alts down with it.
So far INS has dumped because of BTC, but looks like it found new support below our buy point and emerged back up. Still hasn't hit the original stoploss. Pretty sweaty trade so far. This is an update to my previous INS idea:
After the retest the white pivot line which rests inside the optimal fib retrace zone, I expect ARN to move and try to take out the highs outlined above. If it does take off, I'd recommend taking some profit at each of those levels.
Big picture first: As you can see, we have a big void to the left which hasn't been filled yet, and the point where it would get filled conveniently falls exactly on .705 retrace from top to bottom. On the macro scale, I think it would have to get to that point before it continues its major downtrend. The red levels are weekly horizontal levels that I think...
We're continuously pushing against that 15 min resistance line, one or two more strikes and it should break, at which point we'll wait for retest and then jump in, targeting that upper resistance at least.
We have a break above the previous daily high, so now we're looking at a retrace to the breaker and a long towards the middle of the range outlined on the weekly chart below: Very simple concepts with 3 R/R.
We got the ideal retracement so far and touched that order block which sent us to those initial highs, and we have made a local higher low which is a nice reversal sign. Now all that's left is to wait. If you want more confirmation, wait for 15 min break up from this cyan line and enter on retest, that should be an additional bullish sign.
This is a zoomed in follow-up on my GBP/USD PART 1 setup. Last week we got rejected pretty hard, failed to make a higher high, dumped and formed this red block on the 4H which should now act as resistance. I'm expecting the week to open with some further dumping(not worth playing), possibly into the lower red 4H breaker, retrace back into the higher one, and...
This is the first half of my GBP/USD analysis. On the weekly chart, we have some low crouching above the weekly support block, still within the optimal fib retrace zone. The red level is an important weekly support/resistance level. I think when we finally take out those lows, we'll have enough of a bounce to attack the previous highs. We have 2 plays possible...
What we have here on the daily chart: - Those highs sitting right below the daily block - The daily breaker which should now act as temporary support So I'm thinking the Samurai will initiate a fake breakout of that inverse head and shoulders we're making, take those highs (loads of stops resting there by now), and proceed to sell off. Maybe aim for the red...