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Breaker

CHF futures looking like it wants to dumpTo me it looks like CHF want to go and fill in that big gap just like the EUR already did. Reasons for it to back up this idea: - Well Gaps like to be filled most of the time - HTF Bearish MS now testing the 4h -OB - You say they ran stops above that 4h ob tight before we dumped so that is bearish - Stops ran on the 1h double top (you would see it better on the 15 chart) Imo you could short it now already but if you want extra confirmation like i am. Then i would wait for it to get a close under that 1h ob that will become breaker once we close under it. ( yes i put breaker in the chart but right now its still just a 1h ob but i fully expect it to become a breaker soon) So when trading under that level i will be looking at all the CHF pairs for short ideas
SShort
by Civel
1
AUD/USD priming to take out highs!On the daily view(below), we can see that we've broken past the block that sent us down initially. If we zoom in on the 1H chart, we can pinpoint a 1H breaker which falls right around the middle of that daily block, and withing the optimal fib retrace zone. We should now be aiming to fill that small gap we've left on Monday open, and attack the next daily resistance level (red). Ultimately I think it should go even higher than that, but I'll update the idea accordingly.
Long
by UnknownUnicorn3664665
1
GBP/USD PART 1: Weekly view, longer term, short then longThis 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 right now: #1 - Short to the weekly block, which is acceptable since it's a higher time frame, this move will be around 350 pips which is great #2 - Long from the weekly block with a target of previous highs. If we get a nice bounce from the block initially it should confirm our bias. Next half of this analysis will go on the lower time frame for that SHORT setup.
by UnknownUnicorn3664665
A 100 pip short based on a support-to-resistance flipFirst of all, this is the ICT Breaker concept from ICT (Inner Circle Trader) on YouTube, all credit goes to him. I've outlined a nice example of this strategy in the chart. I use this a lot and it's really simple to understand and notice once you catch a few of them. I'd love to see you try to find more examples. Feel free to post them in the comments and we can discuss them! Things to look for: - Same concept applies for longs, but inverse. - The candle block you're using must precede a move that takes out a previous swing point (low or high). - If the price does retrace to that block as you expect, but starts consolidating and pushes back into it repeatedly, it could be a sign that it wants to move back through it. The market is sometimes tricky like that. Also, here's a bonus confluence factor - if you pull the fib retrace tool from the top to the bottom of the move, you can see that our block falls right between .62 and .79 fib levels. This is another good indicator to confirm your bias.
Education
by UnknownUnicorn3664665
4
PHX/BTC Optimal retracement for a 25% run explainedWe got a break in the market structure here, and now we have to wait for some retracement to look for a buy. There's a bullish breaker nested between .62 and .705 fib retracements which is a great spot for Phoenix to retrace before attempting to break new highs. This retrace would also fill that small void we left during the pump. Some terms I used here: - Bullish breaker - an orderblock (a green or red candle, in this case green) that preceeded a move that took out a previous swing low, but was later nuked through. If the price comes back to that block, it is expected to act as support. - Void - a fast move in the market in one direction, usually in just a few candles and without any proper retracements during the move. Most of the time after the move is done the price will eventually come back to "fill the void". Also called an "inefficient move".
PLong
by UnknownUnicorn3664665
ICX/BTC Looking for fuel to take offIf we take the fib from the last major high and low on the 1H timeframe we can see that ICX has retraced right around 0.705 level which is ideal AND touched that 1H gray bullish breaker. Also a good sign is that it's been making higher lows on the 4H and Daily timeframes. Only thing that worries me right now is that green pivot level which we have fallen through and is now holding the price, so options would be: 1) aggressive entry right now and pray with your grandma that it breaks the green level 2) wait for the break of the green level and enter on a retest of it as support, this gives you better chance to win + better risk/reward ratio Targets are red levels , around each previous local high, and stoploss for me would be below the previous low OR below the gray breaker outlined, depending on how wide I can tolerate it. If it comes back to the breaker and starts making lower highs like that orange path, it would be a sign that it wants to break down further.
Long
by UnknownUnicorn3664665
Bulls grasping at straws or the herd playing catch up?Good morning, traders. It's Friday and we've almost made it through another week of trading. Just when retail traders are ready to throw in the towel, Bitcoin gets a boost minutes before the end of the day and prints a potentially strong bullish reversal candle as we discussed on last night's live stream. However, we still need to see actual follow through because reversal candles need to be confirmed. So what does this mean? I'm looking for a daily close above $6416 as well as a weekly close above $6850. If Bitcoin can manage to do this, then it sets the stage for a real attempt at $7800. Make no mistake, as I've said since February, until we close above $11,800 we will be necessarily required continue to concern ourselves with further downward pressure. We can see that price bounced off the S2 area -- more specifically, it bounced hard off the 61.8 fib level -- and is currently applying pressure against the support-turned-resistance at $6260. Price has been wicking up into that area all night long without any follow through yet and we just saw a large sell into the latest attempt (275 BTC between 8:35 and 8:45 a.m. CST) as it wicked to the descending broadening wedge's (DBW) resistance. We have also seen increasing buying pressure into this area since then. RSI remains low, currently sitting just above oversold, and MACD recently completed a bullish cross. The expectation should be that price will exit the DBW at the top, as it is a significantly bullish pattern, and target the green box. If price manages to close above the top of that box, we should expect to see it target the next box up. That being as it is, if we see price pierce the recent low of $6079.90 then we should expect it to continue lower as I mentioned in last night's live stream.
BITFINEX:BTCUSD
by Chris_Inks
2