GOLD SELLS ACTIVE +300pips expected Potential for +1000pipsOANDA:XAUUSD
-Price Action
-Historical Data
-Trump Inauguration
-DXY pushing for highs
Technical Analysis
-Price spent all day on 17/01/2025 trying to break above 2716-2719 levels
-Price then retraced to 2703 for liquidity to attempt another break of highs. FAILED
-Price created triple tops on 5m TF
-Mega dump on the 4H tapping into 2699 as lows with closures just above 2700 for the week
Fundamental Analysis
-War cease fire as Trump swearing in is due
-Trump inauguration
-MAKE AMERICA GREAT AGAIN
-DXY is rallying to the upside with price finding support on 17/01/2025
Beyond Technical Analysis
D.Trump officially becomes US President , a Big bang for Gold? Gold prices continued to fall below $2,700 during the Asian session on Monday. Among the factors driving the decline were higher US Treasury yields, easing tensions between Israel and Gaza, and the market awaiting the inauguration of US President Donald Trump.
Investors are waiting for President Trump to issue the first order on the US President's diamond so they can make specific investments.
Technically:
Determined based on the H4 time frame and following the trend line as follows:
Resistance: $2724, $2748
Support: $2660, $2635
Price Zone Setup:
👉 Buy XAU 2686-2684 (Asia-Europe Session)
❌SL: 2679 | ✅TP: 2691 - 2698 – 2710
👉 Buy XAU 2662-2660
❌SL: 2654 | ✅TP: 2668 - 2674 – 2780
👉SELL XAU 2748-2750
❌SL: 2755 | ✅TP: 2742 - 2737 - 2730
Thank you for reading my comment: "FM"
1/20 Weekly Watchlist + NotesWeekly Watchlist and Market Analysis Using #TheStrat
Indexes - SPY went failed 2D week following the previous week going 3 and we nearly went 3 on this last week, but came up short with little room to go to previous week highs. This week we look to go 3-2-2U to confirm the month being failed 2D that has now retraced more than 50% of the previous months range, meaning we are now closer to taking out previous month highs than we are to reclaiming previous month lows. With full timeframe continuity green, we know that buyers are full in control at the moment, and this upcoming week looks to confirm that further as we look to target previous weekly highs on our way up to ATH levels. No daily actionable signal and a couple daily gaps to the downside, so we will see what happens Tuesday pre market whether we gap down to give last weeks buyers some corrective activity, whether we gap up, clear weekly magnitude (at the high of the weekly 3 from the week prior to this last week) before seeing if we expand further to confirm the month attempting to go 3 or begin reversing back through last weeks range. Finally, we may just open flat and see where intraday signals and continuity take us.
(Slightly pressed for time at the time of writing so I apologize for the lack of detail like my normal posts)
Watchlist:
Bullish:
NVDA - 2-1-2U Daily, 2-2 Weekly. Daily BF looks interesting
PLTR - 3-2-2U Weekly. High rVOL
WMT - Hammer 2-2 Week, MoMo Hammer Daily. Inside green Month which isn't great this late in the month, but not bad enough to ruin this setup for me
DLTR - Hammer 3-2-2U weekly after month went 3. Looking to go back through the months range now. Note: DG full FTFC red so no sector support
IONQ - 3-1 Week at M Exhaustion. MASSIVE range on this one. Nearly 30% underlying move from weekly trigger to magnitude
HIMS - Hammer failed 2D, Weekly 3-1, Failed 2D month attempting to go 3
Bearish:
DOCU - Weekly 3-2-2 Shooter. Daily Big red 3 following double inside day so potential 3-2D daily to trigger shooter week down. Filling in massive gap from the last earnings report
Neutral:
DAL + UAL: Both have inside weeks. DAL at exhaustion risk. UAL bright green. Relative strength in the airline industry
TRUMP/USDT STRUCTURE It's been a long since I saw real FOMO, I know one thing in the trading space there will always be trading opportunities the one thing you should do is to understand what you are investing in before you invest, have a little knowledge of what you want to invest in before you proceed with the investment.
From my analysis, you can see that there is a huge gap that has to be filled. Liquidity needs to be removed, which will result in more price falls. So please stay put and understand market structure first before you jump in. I will always be here to help you out if you choose to stay with me. Stay tuned for more updates.
Happy Trading!!!!!
ITI Ltd. Symmetrical Triangle – Breakout/Breakdown Imminent!Analysis:
ITI Ltd. is trading within a symmetrical triangle pattern on the 15-minute chart. This formation often precedes a strong directional move.
📊 Key Levels:
Current Price: ₹374.65
Upside Target: ₹400
Downside Target: ₹350
Support Zone: ₹343.94
Trade Plan:
Await a breakout above ₹380 for bullish entry.
Breakdown below ₹370 could trigger bearish momentum.
Volume confirmation is key for stronger conviction.
💬 What’s your take on this setup? Let us know in the comments!
NZDUSD (4H): UT ANALYSISSummary:
The NZD/USD is poised for a potential breakout above 0.56464, supported by bullish technical signals and positive momentum.
Traders are advised to monitor price action closely and adhere to the provided trade setup to optimize profitability while managing risk effectively.
📊 Market Overview :
The NZD/USD pair is currently consolidating near the 0.56018 level, showing signs of potential bullish momentum. Recent candlestick formations and volume analysis indicate a possible reversal from the support zone. Key indicators, such as RSI and MACD, are approaching critical levels, hinting at upward movement.
📈 Trade Setup:
Buy Entry: 0.56464
Stoploss: 0.56044
Take Profit: 0.56884
💡 Analysis Highlights:
The pair is attempting to break through resistance near 0.56464, suggesting a strong buying zone.
Volume spikes near current levels indicate increased participation by bulls.
MACD's positive crossover supports further bullish price action.
ATR suggests moderate volatility, providing a favorable risk-to-reward ratio.
📌 Risk Management:
The stoploss is strategically placed below a recent support level to minimize downside risk.
Take profit is positioned near a key resistance zone, aligning with market momentum.
EURNZD (4H) DT ANALYSIS🔹 Symbol: EUR/NZD
🔹 Current Price: 1.83706
Key Observations:
Recent price action suggests a bearish trend as EUR/NZD approaches a critical resistance zone, indicating potential downside momentum.
Indicators such as RSI and MACD on higher timeframes show signals of weakening bullish strength, aligning with a possible trend reversal.
📉 Sell Order at 1.8271
This level is strategically placed below the current support zone, suggesting further bearish continuation if breached.
🚫 Stoploss: 1.8355
Positioned conservatively above the resistance level to manage risk effectively.
💰 Take Profit: 1.8187
Targeting a prior support level, aligning with anticipated bearish momentum for optimal profit.
Recommendations:
Monitor price action closely at the 1.8350 level. Any breakout above this level could invalidate the bearish outlook.
Ensure strict adherence to the stop loss to mitigate potential losses.
If price action accelerates towards 1.8271, prepare for potential volatility as key levels are tested.
ETH Long to $6666Entry: $3,215.36
Target: $6666
Stop Loss: $2899
Trade Plan:
This trade is based on a liquidity grab.
The stop loss is set below the previous low.
Reasoning:
The price has shown a pattern of accumulation after taking liquidity with the possibility of further bullish movement as it nears the next resistance level. Watch for price action confirmation around the entry level before committing to the trade.
AUDUSD (4H) UT ANALYSIS🔹 Current Market Overview:
The AUD/USD pair is trading at a current price of 0.62085 . Recent price movements suggest consolidation near this level, forming a potential base for upward momentum.
📈 Buy Signal Details:
Entry Price: 0.6243
Stop Loss: 0.61994
Take Profit: 0.62866
🔹 Key Observations:
Trend Analysis:
The pair is recovering from oversold conditions on the 4-hour timeframe.
RSI indicates neutral-to-bullish momentum, currently hovering near the 50-55 range .
Support and Resistance Levels:
Strong support identified at 0.6190–0.6200 .
Immediate resistance is observed at 0.6240–0.6250 , aligning with our entry point.
Volume Analysis:
Buying pressure is building, with consistent above-average volume near 0.6200 .
🔹 Strategy Commentary:
A break above 0.6243 confirms bullish momentum and validates the buy entry.
A well-placed stop loss at 0.61994 ensures minimal downside risk.
The take-profit target at 0.62866 aligns with the upper channel of recent price action, offering a favorable risk-to-reward ratio.
🔹 Risk Management Tips:
Consider monitoring economic events that may impact AUD, such as commodity price trends or Reserve Bank of Australia announcements.
Adjust your position size based on your risk tolerance, ensuring the total loss from the stop loss remains within your acceptable limits.
I need objective information to help me interpret the chart
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With this decline, the BW(100) indicator was created at 104556.23.
Accordingly, the high boundary section is the 101947.24-104556.23 section.
Unfortunately, since it fell below 101947.24, the key is whether it can receive support near the MS-Signal (M-Signal on the 1D chart) indicator, i.e., around 98892.0, and rise.
If it falls below the MS-Signal (M-Signal on the 1D chart) indicator and shows resistance, it is highly likely to turn into a short-term downtrend.
-
The settings for the StochRSI indicator I use are 14, 7, 3, 3 (RSI, Stoch, K, D).
The source value is ohlc4.
If you set it as above, it will show a movement similar to the StochRSI indicator on my chart.
When the StochRSI indicator
- falls in the overbought zone,
- is located near the 50 point,
- rises in the oversold zone,
volatility is likely to occur.
However, you should check whether there is support near the support and resistance points drawn on the 1M, 1W, and 1D charts and think of a corresponding response plan.
Therefore, by checking the relationship between the movement of the StochRSI indicator and the support and resistance points drawn on the 1M, 1W, and 1D charts, you can choose the point where you can make a trade.
If you can calculate these selection points, I think it is highly likely that you will be able to create a trading strategy that suits your investment style.
It is good to predict future movements with trends or waves, but if you can calculate the point where you can actually make a trade, I think you can create a better trading strategy.
-
I wrote a long article, but
1. Will the StochRSI indicator fall in the overbought zone?
2. Will it receive support near the MS-Signal (M-Signal on the 1D chart) indicator?
3. Will it rise to the high boundary section?
You should focus on the three things above.
---------------------------------
The method of drawing support and resistance points is drawn according to the arrangement of candles.
This method can actually include subjective thoughts, so it requires skill.
Therefore, if possible, I recommend that you sign up as a paid member of TradingView and share my charts with me, and use the HA-High, HA-Low, BW(100), BW(0), OBV, +100, -100 indicators that appear on 1M, 1W, and 1D charts by the HA-MS_BW+v2 indicator as horizontal lines and use them as support and resistance points.
Then, even if others look at the charts, they will be easier to understand, and it will be easier to share opinions on trading strategies according to each other's investment styles.
By utilizing indicators that anyone can use in this way, you will be able to view the charts objectively.
If you trade based on what others tell you, you will likely not be able to respond quickly when sudden volatility occurs.
Therefore, when creating a trading strategy, you should roughly think about how to respond to all cases, both when it goes up and when it goes down.
That's why it's best to draw support and resistance points or other reference materials on your chart if possible and prepare countermeasures accordingly.
-
Thank you for reading to the end.
I hope you have a successful trade.
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Bitcoin - Roadmap 2025 to 2026 (Best plan)This analysis is all you need for 2025 and 2026 from the long-term perspective. Bitcoin is currently in the final stage of the bullish cycle that started in 2022 (15,632 USDT) and is predicted to end in 2025 (around 125,000 USDT). This was a pretty good investment, but if you are jumping in right now, you will most likely get hurt in 2025 and 2026. Let's take a look at history to see what we can expect in the next few years.
Bitcoin crashed by 84% (in 2018) and 77% (in 2021). These are the classic bear market crises that Bitcoin experiences every 3–4 years. It's because we have halving events (reducing rewards for miners in BTC) every 4 years from a fundamental perspective. You may know that Bitcoin is highly volatile. History is telling us that in 2025/2026 a huge bear market and crisis are ahead.
But bitcoin's market capitalization is constantly rising, and big players are entering the market. That's to say there is no longer room for such massive crashes. I don't think we will see an 87% crash like in 2015 or 2021. But 60% is still very likely—this would bring the price of Bitcoin down from 125,000 to 50,000. If you buy now at 100,000 USDT, your investment may shrink by 50% in 2026. I have been trading Bitcoin for almost 10 years.
So where to take profit in 2025 and prepare for a massive crash? This is a pretty easy question because we have a long-term trendline (2017 -> 2021 -> 2025) on the linear scale. And yes, I don't use the LOG scale in this case. You want to sell at the touch of the trendline. The second option is to use the Fibonacci extension tool and look for the 1.618 FIB. I did it for you on this chart, and the level to sell is 122,069 USDT.
From the Elliott wave perspective, we are in the final wave (5). We can expect an ABC correction in 2025/2026 which would bring the price down to 50,000. I bring you this very strong technical data that you can use on your trading decisions.
Write a comment with your altcoin, and I will make an analysis for you in response. Also, please hit boost and follow for more ideas. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!
Buying Idea FPH with stop at 32.76FPH has consolidated over few months. stock has manage to weather the big shakeouts during Dec24. looking very strong to make a move again. decent stop with 6.2% to give it enough room.
DISCLAIMER : The content and materials featured are for your information and education only and are not attended to address your particular personal requirements. The information does not constitute financial advice or recommendation and should not be considered as such.
Need to check the movement of StochRSI and BW(100)
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If you "Follow", you can always get new information quickly.
Please click "Boost" as well.
Have a nice day today.
-------------------------------------
(BTCUSDT 1D chart)
The StochRSI indicator is showing a change in slope in the overbought zone.
However, due to this rise, the StochRSI indicator may touch the 100 point.
Accordingly, the StochRSI indicator will soon turn downward.
Therefore, when the StochRSI indicator shows a downward trend, the key is whether it can be supported around 101947.24-106133.74.
-
As the BW auxiliary indicator touches the 50 point, the BW(100) indicator is about to be newly created.
Accordingly, the direction in which the newly created BW(100) indicator is created based on the current BW(100) indicator point of 106133.74 is the point of observation.
Since the BW auxiliary indicator must fall from the 100 point in order for the BW(100) indicator to be created, the price will fall when the BW(100) indicator is created.
The BW(100) indicator has currently been on an upward trend.
This time, the point of observation is whether the BW(100) indicator can be created above 106133.74.
The BW(100) indicator and the BW(0) indicator are paired indicators.
Since the BW(100) indicator fell as it was created, the BW(0) indicator was created, so it can be seen that the wave has been initialized.
This time, since the BW(0) indicator is rising as it is being created, if the BW(100) indicator is newly created this time, the wave will be initialized.
This wave refers to the box section that moves in the BW(0) ~ BW(100) section.
The actual wave or trend starts when it deviates from the BW(0) ~ BW(100) section.
The HA-Low and HA-High indicators can also be interpreted as BW(0), BW(100).
However, the HA-Low and HA-High indicators are more likely to show wider movements than the BW(0), BW(100) indicators, so they are more advantageous in creating trading strategies.
In that sense, the BW(0) and BW(100) indicators can be said to be indicators that can be responded to in detail in trading strategies.
-
The high point boundary section was formed as the HA-High and BW(100) indicators were created.
Accordingly, it will enter the high point section only when it rises above the 101947.24-106.133.74 section.
If so, the possibility of starting a new upward wave increases.
On the other hand, when the HA-Low indicator and BW(0) indicator are generated, a low point boundary section is formed.
-
Not all indicators move at all times according to the interpretation method.
However, it can only help you find a basis for buying or selling when conducting actual transactions.
The movement of these indicators can be said to be like finding a lighthouse in the vast sea of trading.
-
The next volatility period is between January 23rd and 30th.
We need to look at how BTC moves as it passes through this volatility period.
As explained above, since the StochRSI indicator is in the overbought section, it is important to see whether the STochRSI indicator shows a downward trend as it passes through this volatility period.
The MS-Signal (M-Signal on 1D chart) indicator is rising to around 97461.86.
Accordingly, in order to maintain a short-term uptrend, the price should be maintained above the MS-Signal (M-Signal on 1D chart) indicator.
-
Thank you for reading to the end.
I hope you have a successful trade.
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- Big picture
I used TradingView's INDEX chart to check the entire range of BTC.
(BTCUSD 12M chart)
Looking at the big picture, it seems to have been maintaining an uptrend following a pattern since 2015.
In other words, it is a pattern that maintains a 3-year uptrend and faces a 1-year downtrend.
Accordingly, the uptrend is expected to continue until 2025.
-
(LOG chart)
Looking at the LOG chart, you can see that the upward trend is decreasing.
Accordingly, the 46K-48K range is expected to be a very important support and resistance range from a long-term perspective.
Therefore, we expect that we will not see prices below 44K-48K in the future.
-
The Fibonacci ratio on the left is the Fibonacci ratio of the uptrend that started in 2015.
In other words, it is the Fibonacci ratio of the first wave of the uptrend.
The Fibonacci ratio on the right is the Fibonacci ratio of the uptrend that started in 2019.
Therefore, it is expected that this Fibonacci ratio will be used until 2026.
-
No matter what anyone says, the chart has already been created and is already moving.
How to view and respond to this is up to you.
When the ATH is updated, there are no support and resistance points, so the Fibonacci ratio can be used appropriately.
However, although the Fibonacci ratio is useful for chart analysis, it is ambiguous when used as support and resistance.
This is because the user must directly select the important selection points required to create Fibonacci.
Therefore, since it is expressed differently depending on how the user specifies the selection points, it can be useful for chart analysis, but it can be seen as ambiguous when used for trading strategies.
1st : 44234.54
2nd : 61383.23
3rd : 89126.41
101875.70-106275.10 (Overshooting)
4th : 134018.28
151166.97-157451.83 (Overshooting)
5th : 178910.15
-----------------
ADA 4-hour .. Patience for the next entrySold the bags here.
Moving on for the next entry.
PA has already moved down considerably.
5.600 % lower than where I sold.
I keep watching the price scooting downwards as I write this Publish Idea.
I do initially think the PA will eventually move down to the region where the lower green arch is placed.
The first arch is an area where a bounce is probable.
Nothing is guarantee, and this chart is where my thoughts are about near term future movements.
I need to restrain from entering too early.
Patience.
Weekly update 1/19/25 - 1/25-24Weekly Update 1/29 – 1/25:
Two things of importance this week to consider. First and always is the weather and second and always is the supply/demand storage balance. Models have been having some trouble the last four days in holding the Greenland blocking in place. Which is showing up as the arctic cold being displaced and not being injected into the North American mid-continent. The Polar vortex is still predicted to continue elongating though February and early March. Which should keep furnaces burning and gas being consumed. This is a longer term impact on NG pricing, especially with models varying from run to run showing brief run ups in temperature the last few days of January, which happen to coincide with the February contract roll-over. So, I will briefly touch upon the weather set up, but of more importance this week is the Artic cold and frozen precipitation making its way to the Gulf Coast. Which will have a tremendous impact on well head freeze offs and the LNG production facilities. I believe this is going to set up a one-two punch, if you will for the next 7-10 days of trading.
Weather impacts. The weekend GFS weather data trended 3 HDDs warmer, while the EC trended 6 HDDs colder. Both maintain a frosty Arctic Blast the several few days, although the EC was numerous HDDs colder than the GFS with a weather system into the Midwest and East Jan 28-30. Both then forecast a much milder US pattern gaining ground over the US the first few days of February, although with the GFS teasing a new frigid blast pushing into the Midwest around Feb 2-4. Sunday night and Monday opening we can expect an emotional reaction on the models turning warmer since Friday mid-day and the MLK trading holiday tomorrow. There was a great deal of profit taking as of Friday EOD, with the price moving almost $1.00 off the lows of the month. I would hope people would be smart enough to take some profits off the table after such a big move! But, for the week there were two 60 cent moves and one 40 cent move for the week, and I see no change in this pattern until we get into the second week of February and the back half of winter starts to verify for storage amounts. The weather this week is going to be down right brutal in the US. The first concern are the well head freeze-offs. Today, 1/19/25, production is down to 101 BCF/d with freeze offs in the Bakken and the Marcellus. We are expecting the late cycle revisions to revise production down further. There is a belief that production might hit the lows seen last year of 90 BCF/d. “We could see 10 Bcf/d or more of lost production due to freeze-offs” during the cold snap, said Huenefeld. These could include “substantial disruptions” not only in the Marcellus Shale, but potentially the Midcontinent, Haynesville Shale and Permian Basin, he said. Reduced production, in turn, “could exacerbate the storage draw” for the week ending Jan. 24, which may exceed 300 Bcf, Huenefeld said. That’s right industry followers are now confirming that we can see a 300 BCF withdrawal this week! This would bring storage under the 5-year average for the first time since last winter. The cold is here to stay for the next seven days and that will continue to be a big factor on production and heating demand. As the week wears on and the models battle back and forth, we can expect that daily model runs to keep daily pricing volatile. So be prepared for daily swings 20-30 cents again. Long term I am still in the colder than normal belief. This continued elongation of the Polar Vortex is not predicted to end, we just need the models to get on board. But this I believe will happen in time.
Supply/demand storage concerns: Well heads, pipelines and Europe! As discussed above, production is being curtailed, via Mother Nature. Well head freeze offs have been a constant concern in the Bakken area in North Dakota. This has skyrocket pricing all over the US with Henry Hub spot price currently $10.70. Spot pricing in the North East is currently trading over $100.00 BCF. While there is limited contribution to the overall supply structure coming out of the Bakken, it does supply more NG than the GOM and it is a good barometer for infrastructure issues with the production and transportation of NG. As the temperature drops the water in the gas condensate freezes and prevents the gas from flowing, both at the well head and at the compressor stations which move NG in the pipeline. It only need to be a few degrees below freezing to create a giant headache for the production and distribution of NG. Wood Mackenzie also noted that, “A long list of pipelines across the U.S.” have already posted operational flow orders (OFS) and weather alerts, anticipating the shocks of extreme cold temperatures that could linger until Wednesday or Thursday. “The complete list of pipelines that have issued OFOs or OFO warnings is too long to include,” Wood Mackenzie said in a separate update. With all 50 US states predicted to be below freezing and the major production areas to be 5-20 degrees below freezing, we can start to see where and why production would drop for the next 5 days. Take above normal HDD, then add in drop in production, and it is a nice recipe for bullish momentum. LNG terminals have been running at historic levels the last three days. We are waiting for confirmation for the first 16 BCF/d! Which I see happening today or tomorrow. Now the big worry sometime Wednesday morning is if it is too cold to produce LNG at the coast facilities. There is a historic winter storm predicted to lay down frozen precipitation from Houston to Savannah, Ga along the I-10 corridor. Which is the heart of LNG country! If you remember last year, Freeport experienced a severe freeze off which disrupted LNG production and needed repair for over 6 weeks. This was the beginning of the downturn in NG pricing last year to the lows in February-March 24. This season is a bit different in that there is a concern that the US is colder than normal and NG storage is going to be below the 5-year average. But Institutional traders love a reason to sell and take our money. Remember history may not repeat, but it does rhyme! So, the expectation is that LNG production will keep bullish momentum on pricing, but keep a keen eye on facility issues to rug pull the LNG card.
This is not investing advice, please trade at your own risk. But I did take positions the end of the day Friday, with the expectation that there will be big disruptions in the production of supply. Which I will hold hopefully until the EIA report. I do expect trading to be a bit light due to the US futures market having abbreviated hours. Which I believe will be a good set up for the news of freeze offs coming in Monday afternoon and night for open on Tuesday. I expect and will be trading the big daily bounces once the market opens in London tomorrow, but will be prepared for the NY market to be closing early. I will be watching LNG facilities for signs of distress with production numbers declining. If I see production of LNG dropping, I will be expecting it to temporarily impact a downward trend on pricing. Lots and lots to be watching out for.
Keep it burning boys!
$SAGA / UsdT PredictionHello traders,
The chart resembles the pattern of an inverse head and shoulders. This formation is significant because it illustrates the shifting dynamics in the market, allowing us to anticipate the next trending phase. The critical levels to watch are $1.74, $2.05, $2.83, and $3.42. If these levels are surpassed, the price could move to the next level. Otherwise, we may need to retest the previous critical level to find support.
If everything goes well, the sky is blue and the grass is green, then we can reach our final destination! I will keep you updated on this chart as we progress.
ETH ANALYSIS🔮 #ETH Analysis - Update 🚀🚀
💲 As we said earlier #ETH performed same and retest its support level. Now we can see a formation of Bullish Flag Pattern in #ETH. Breakout of the pattern will indicate a bullish momentum.
💸Current Price -- $3425
📈Target Price -- $4400
⁉️ What to do?
- We have marked crucial levels in the chart . We can trade according to the chart and make some profits. 🚀💸
#ETH #Cryptocurrency #Breakout #DYOR
#ES_F Day Trading Prep Week 1.20 - 1.24Market closed outside of Value after failing under 6074 - 54 HTF Edge.
We are set to open inside 6064 - 23 Intraday Range unless market gaps under/over after Mondays Holiday but if we open inside it then that tells us we are over Value and there are two thing we can do here, continue grinding/balancing inside the Intraday Range and try to push towards/into above Edge ?
Or do we find more selling over Value that would bring us back into/under VAH, if we get under VAH we would be under Daily Stops so that could trigger moves towards the Mean/VAL of the range. If we do get back inside the Value we could find support and holds around it BUT careful if we take out out and get under Value, that can bring in more weakness for lower targets where we would watch for any continuation.
IF the strength from last week stays, for us to see any bigger prices out of this HTF Range we would need to hold over VAH and have a strong push into or over the above Edge that would stay over, until then we have December supply trapped over 6050 - 74 so we may stay under this area and most of December Supply is valued over 930 - 70s and we have January month end approaching which means if more size needs to lighten the bag that could trigger some lower destinations.