The main idea of this chart is that the market just completed the bullish flag pattern.
After it the consolidation, it is going to fall towards the next Support.
Here are the indications which support our view:
Bullish Flag Pattern (lower TL not exact --> would you still call it a BFP?)
Price @ Weekly Resistance
Bearish Crossover of the MACD...
The market is, on this Timeframe, in a Downtrend.
In our view, there are two possible scenarios of how the market could move:
It reaches the Weekly Resistance, then it turns back down --> Down
It reaches the Weekly Resistance, retraces and shoots further up --> Up
However, we have these technical factors which could affect the price:
The market is in a Downtrend.
The concept of this idea is that the market goes up to make a Pullback.
After that, it'll fall down and potentially even reach the Weekly Support.
Here are some indications which supports our view:
- Up-Movement from here:
Market didn't make any dynamic Pullback since the last Top
According to this idea, the market is going to break
the daily Trendline bearish towards the next daily Support.
Here are some indications which supports our view:
First Lower High after a sequence of higher Highs
Market at weekly Resistance - Break was rejected three times for now
MACD shows decent Divergence
Distance of higher Highs...
The market is moving in a symmetrical triangle.
The MACD oscillator shows as bearish divergence.
While the market made a higher High, the MACD shows a lower High.
Considering important key structure, you can see the three Trendlines.
As it is more likely to go down, because of the Divergence and the fact, that the market just
made another "Edge...
The market is moving in a daily Range.
Some times before, it broke the weekly ascending Trendline.
After the retest, it is moving in a Range right now.
Inside this Range, an ascending Channel developed.
We expect the Price to Break the Channel.
This is reasoned by following aspects:
The market was trending up the whole recent time.
The market is in a shortterm Uptrend.
As you can see on the left hand side, there is a descending Trendline.
After the market made a Low (reference green arrow) it went up and broke the Trendline.
This Uptrend has continued even more, until the RSi indicated, that the market is overbought.
After the first RSI signal, the market moved up higher for 60...
The market is in an Uptrend.
This statement is supported by the fact,
that the SMA 50+200 are crossing bullish right know,
which is also called a "Golden Cross".
So now, as the market is going up, we have to see when it's going to be over.
So we here have some indications why the market is goint to end soon:
Price moved really far until now
The market is neither in a clear Uptrend nor in a clear Downtrend.
As you can see, the market strongly went up.
But shortly after, we see how the market turned back down and how it's
starting to consolidate now.
Now we have two things which are confluencing:
The Ascending Trendline
There is a purple ascending Trendline (Area) which
The market seems to be in a Range within a Triangle.
But what does the movements on the weekly, daily, H4 and H1 TFs
That is how we look at the situation:
The market is in a Range.
As you can see we had a weekly Trendline Break.
This important Break was followed by a successful Retest.
After that, the market consolidated inside the orange box.
If you take a closer look, you see that the market made
two descending trendlines and broke both of them bullish.
After the second Break the market made an even...
The market was in a strong Uptrend for a long time.
Then a consolidation/range started.
Here you'll get a quick overview on what we think the
market does and what it is going to do.
The market is failing to make a lower Low at this moment.
Simultanously, the MACD Oscillator shows Divergence.
That means, that the Indicator below and the price are not moving in common.
While the market went up and came down again (ref. two green arrows)
the Moving Averages on the MACD were rising.
Share your view on EU in the comments!
USDCAD - 3 possible scenarios - MTFA
In the following you see some screenshots of the timeframes and of the scenarios.
If you wish any other TF or want to ask or share anything, don't hesitate to do so!
Weekly Timeframe ⏱️:
Daily Timeframe ⏱️...
In the following you see screen shots of different Timeframes for the Multiple Timeframe Analysis. It contains the weekly, daily and H4-Chart.
If you wish any other TF or want to ask or share...
The market is moving in a weak Downtrend.
A weak Trend is a Trend with valid Hs and Ls and accompanying deep Retracement Moves.
By the way: That's why Channels are almost everytime weak Trends.
At the left hand side, we have a Break of the Weekly Trendline.
After this Break we have Trending and Retracement Moves.
At the last Trending Move (towards...
The market broke out from the weekly Trendline.
After that, it consolidated and now, it is retracing back.
During this Retracement process, the hourly MACD shows as strong
In addition, we now have a consolidating Range, where we also have
a potential Lower High.
Furthermore, the Retracement Trendline (which can be expanded to the left)...
The market seems to move in a daily Range.
However, the market was at the daily Support and
it even broke the daily Trendline.
Now, the market is pulling back and it makes a bullish Flag Pattern.
This pattern gives buyers, who didn't bought yet, the oppurtunity to enter.
It is possible to directly enter at the Break of the Flag, but then