Where to from here $BTCSpeculation. What do you think has impacted the price action today was it all Trump fueled or was it other factors in play? Cheers
Breakofstructure
CHFJPY 4H LONG setup
CHFJPY has been consolidating for a long period of time and finally broke the resistance level recently, which possibly helped to form an upward Break of Structure(BOS) confirmation too, seen on 4H chart. Look at the Daily or Weekly chart, you can see that we are in clear uptrend, it is a good idea to follow the big trend. Now when the price pulls back to the 4H Order Block, we can BUY, this is a classic trend-following trade.
Entry: 172.060
Stop Loss: 171.471
Take Profit: 180.117
Risk Reward Ratio: 13.8
Will BTC Push Up Soon? The Key Level is at 65000.00 !!!
I will be looking for LONG opportunities on BTC after the resistance level at 65000.00 has been broken and thereafter forms an upward confirmation Break of Structure(BOS) signal, and the two reasonable take profit levels are set as "TP1" at 70000.00 and "TP2" at 72000.00, shown on the 8H Chart.
At the moment, BTC is consolidating locally. It seems that the market needs to grab more liquidity from supporting areas down below in order to push up later and the 8H green Demand Zone can be a potential area for that.
If the "Caution level" at 58000.00 below the 8H Demand Zone has been broken first, then new analysis on BTC will be made.
USDJPY 1H Big Push-Down is Coming !?!?
USDJPY 1H local trend might start pushing down alongside with the strong down-trend at higher timeframes, after the green 1H supply zone has been reached today.
For that to happen, we need a downward confirmation signal Break of Structure(BOS) to emerge first, which is at level 144.229. Two rough scenarios have been drawn on the chart, we need to be patient for the BOS in order to seek Short opportunities later on. This push can potentially go to the Daily low targets at 141.684 or 140.249 (seen clearly on Daily chart).
The "Caution Level" at roughly 145.645 indicates a potential trend reversal signal once it's broken, new USDJPY analysis will be made at the time.
GOLD 1H Situational Analysis
Gold has been pushing up for a long period of time, now it has finally slowed down and started consolidating seen on 1H chart.
For LONG opportunities, we need a upward confirmation signal Break of Structure(BOS) to happen at level 2517.580 first, which increases the probability of the market going towards the TP level 2531.765, after which we can start seeking for entry area at lower timeframes to BUY. There are two scenarios for the market to reach BOS, briefly marked by the blue and green prediction paths.
At current moment, it is not easy to Short the Gold, since the uptrend in higher timeframes still seems very strong. But I've suggested a rough "Caution level" at 2491.000, indicating a potential trend reversal signal once it's broken, it's lying below a 1H green demand zone.
Bitcoin price looks settled following todays Breakout BTCUSD_2024-08-09_00-06-51_87596.png
As per my last post on Bitcoin which showed Bitcoin's strength in breaking out to the upside today from recent zones, this breakout occurred when Bitcoin was looking very bearish with D Tops across most timeframes. Be aware of a massive cup and handle formation on the weekly chart.
The chart here displays Bitcoins healthy price action as it settles in a rising wedge across 1hr, 2hr and 4hr timeframes.
We won't see these low prices again for a long time is my feeling. The interest rate reduction in the USA is practically in the bag for September and we are ever so close. Also today pleasing figures in unemployment assistance in the USA.
Going forwards to the September I am holding contracts in Silver but I have sold out of Gold as I see much more upside in Silver and potentially even more in Bitcoin. Buy the dips in small parcels that your margin can afford and safe and happy trading to everyone.
LONGING $ETHTaking a long position on CRYPTOCAP:ETH
Why?:
- Liquidity grab on 1D timeframe
- Inversion Fair Value Gap (IFVG) formed
- Bullish Break of Structure (BOS)
Entry: $3518.0
Stop loss: $3236.4
1:2 Risk to reward
EURCAD SELL SETUPEC broke structure and even closed with a bearish engulfing on the weekly. Also here on the daily we have a nice close below structure. I'm looking for continued sells on the pull back or retest!
NATURAL GAS - IMPORTANT BREAKOUT 📉Hello Traders !
The Natural Gas price failed to create a new higher high !
The higher low (2.543 - 2.570) is broken (change of character).
So, I predict a bearish move📉.
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TARGET: 2.230🎯
Jati Tinggi Group Bhd - Consolidation in ProgressA new IPO listed in December 2023 that mirrors the bullish continuation pattern with regards to Zantat Holdings Bhd, Wentel Engineering Holdings Bhd.
In daily timeframe, price is currently trapped in the sideways/accumulation ranging from 0.280 to 0.315 since Mid April 2024 with a low volume. However, price is struggling to close above 0.315 which is a strong resistance due to the following:
1. Ma 50 in Daily Timeframe
2. Ma 20 in Weekly Timeframe
3. Bearish candle in Weekly Timeframe
4. Supply zone (0.315 to 0.325) in Daily and Weekly Timeframe
In lower timeframe M15, in the internal structure, price already form a Change of Character (ChoCh) and followed with a Break of Structure (BoS) suggesting price is bullish in short term period.
To further validate this bullish movement, price must close above 0.315 as mentioned in Para 2.
A break below 0.290 will negate the bullish movement in M15 signaling correction still in progress while 0.275 will be the last defense.
Wentel Engineering Holdings Bhd to Exit The Sideways RangeIn daily timeframe, price is currently trapped in the sideways/accumulation ranging from 0.305 to 0.335 since April 2024 with a low volume. Price also is holding up well above both the MA 20 and Ma 50. A weekly bull candle already taken out the long wick bearish candle showing that the bullish momentum still intact for short term period.
In lower timeframe H1, the internal structure price formed Higher High (HH) and Higher Low (HL) suggesting price is bullish.
To further validate the bullish movement, price must close above 0.345 as a sign of Change of Character (ChoCh).
A break below 0.305 will negate the bullish movement in H1 signaling correction still in progress while 0.285 will be the last defense.
Zantat Holdings Bhd to Gain Momentum for New HighIn daily timeframe, price is holding well above the MA 20 indicates the momentum still intact for short term period.
In lower timeframe H1, we can see a reversal followed by a bullish continuation pattern and currently price is capped below the supply zone area of 0.515 to 0.525.
To further validate the bullish movement, price to close above 0.515 in weekly timeframe as a breakout from the previous weekly bear candle.
A break below 0.470 invalidates the bullish movement and will further move downwards to 0.455.
Bursa Malaysia Technology Index - Bullish Break of StructureOver the past six months, the Bursa Malaysia Technology Index has exhibited moderate performance, reflecting the global tech sector's fluctuating conditions. The index saw a notable uptick in the last quarter of 2023, driven by a rebound in semiconductor demand and increased investments in digital infrastructure. However, it faced headwinds in early 2024 due to concerns over global supply chain disruptions and rising interest rates impacting tech valuations. Overall, the index demonstrated resilience with a gradual recovery in recent months, although it remains below its peak levels from the previous year.
Supported with the Nasdaq Composite Index, a prominent benchmark for U.S. tech stocks, has been relatively strong, reflecting the interconnected nature of the global tech market. When the Nasdaq experienced a surge in late 2023, fueled by impressive earnings from major tech firms and positive investor sentiment, the Malaysia Technology Index mirrored this trend with a delayed but noticeable rise. Conversely, when the Nasdaq dipped due to regulatory pressures and inflation fears, the Malaysia Technology Index also saw declines, albeit to a lesser extent. This correlation underscores the global tech sector's sensitivity to macroeconomic factors and investor sentiment, influencing market performance across different regions.
Last week we can see that the index became one of the factors that lifted the FBM KLCI Index to make new high as the index made a valid Bullish Continuation Pattern by making Break of Structure on Thursday with a bullish closing on Friday.
There are two key things that are worth to be observed:
1. Bullish Break of Structure (BoS) at 69.91 on Thursday.
2. To observe rejection at the area of weekly supply around 75.00 to 80.00 confluence with the fibonacci area.
3. Minor supports at the area 66.64, 62.20 and 60.53.
A break below 56.93 is a sign of Bearish Change of Character (ChoCh) where the index changes the trend from bullish to bearish.
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EURCAD - NEW BREAKOUT 📉Hello Traders !
After a Huge Bullish Move, The EURCAD Reached a Strong Resistance Level (1.47460 - 1.47800) and Failed To Break it !
At The Moment, The Higher Low is Broken (Change of Character).
So, I Predict a Bearish Move📉
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TARGET: 1.46665🎯
AUDUSD SELL SETUPAU with the daily break of structure. Watch for the pull back or retest for the next bearish wave opportunity‼️
EURUSD SELL SETUPEU gave a solid break of structure here on the daily. Going in line with bullish DXY; watch for the pull back or retest for the next bearish wave down!
GBPUSD SELL SETUPGU had a solid break of structure here on the daily. With the DXY also being bullish, I will be looking for a pull back to 1.2500 or a retest to catch the next bearish wave!
EURUSD SELL SETUPEU continued selling on the retest it gave last week and now just broke another key level of structure. Will be looking for another sell opportunity on the retest if we get it!
AUDJPY Noticed a clear break of structure ( 4H )
Break of trendline --> potential selling opportunity
And now, waiting for a retest on the supply
Short term --> SELL
Long term ---> BUY
EURUSD - Change of Character 📉
As We Talked in The Previous Analysis:
The EURUSD Reached a Strong Resistance Level.
Currently, The Higher Low is Broken (ChoCh).
The Support Line is Broken.
So, I Predict a Bearish Move 📉
I'm Waiting For Retest...
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TARGET: 1.07670🎯
How to Find a High Probability Trade in an Uptrend Hey Traders,
We'll show you how you can find an easy trade with a high risk-to-reward ratio using some basic concepts.
- Step One: Spot an uptrend where you have higher highs and higher lows.
- Step two: Spot the last break of structure.
- Step three: Use the Fibonacci tool and connect it from the recent lows to the recent highs.
- Step Four: Watch prices coming back to the broken structure that lines up with any Fibonacci level. ( Focus on the 50% - 61.8% - 78.6% Levels )
- Step Five: Wait for a clear bullish candle and then enter with stoploss structure
- Step Six: Take partial profits at the recent highs and the Fibonacci extensions ( - 0.27 & -0.618 )
USOIL - BULLISH SCENARIO 📈Hello Traders !
On The Daily Time Frame, The USOIL Price Formed an Ascending Triangle Pattern.
So, Let's Expect The Bullish Scenario 📈
If The Market Breaks The Resistance Level (77.67 - 79.72) and Closes Above That,
We Will See a Bullish Move...
TARGET: 82.40🎯
EURUSD SELL SETUPFX:EURUSD
A break below 1.08940 Daily support has simultaneously broken bullish structure on the 1h, 4h and daily timeframes changing my bias to a bearish bias. a retest back to the 1.08940 area as daily resistance and a 4h bearish engulfing candlestick is enough confluence/confirmation to short EURUSD.
