A Big Fat Trading IdeaBased on the Daily Chart Analysis, GBPUSD is on a Bullish Trend. On the current timeframe, I'm waiting for a Buying Opportunity of the Bullish Bat Pattern trading setup, and the potential entry price I'm looking at is 1.1988.
This has great potential for me to upsize my target level if you know where to look.
Candlestickpattern
A trend trading setup that might go BIGEURUSD is on a Bullish Trend in the higher timeframe, so this week, I'm waiting for a Buying Opportunity within the pair.
The AB=CD harmonic patterns also align with the 4-hourly chart's support level.
With that confidence in place, trading confirmation like the 3-bar reversal is necessary.
Decline on EURUSD For several days now, we have been waiting for the EURUSD correction to join the continuation of the downward movement.
Yesterday we saw a pullback just before the zone and now we will watch for a new bottom.
On a break of the previous bottom, the target will be 1.0565.
If you already have trader, reduce the risk when the price reaches 1.0680.
The best scenario for new trades, is when the price rises to 1.0750 and pullback from this level.
Price Rebound From Support Range!The price indicates a rebound within the support range where the price test attempted to break the MA13 line without having a large volume, hence, unable to close above the MA line.
RSI and MACD indicate a divergence signal due to fresh buying interest in the stock.
The candlestick pattern indicates the stock has the potential to continue the price uptrend in the upcoming trade sessions.
Let's save CITAGLB in WL and watch out for significant price movement backed by high volume.
R 0.355
S 0.295
AUDUSD possible long moveAN offers a really good long setup. The confluences are:
1.ascending channel
2.break and retest of S/R zone
3.daily AND weekly 50EMA laying on this level
4.61.8% fibs
So we just need to see rejection candles at POI for entries.
The only thing I don't like is the bearish momentum. The last daily candle is Marubozu candle, a very dominant candle sooo I'll be looking for STRONG 4H rejection candles or daily candle before jumping in longs!
It could easily penetrate the zone, so be careful with entries.
XAUUSD short term long A very risky trade, but if I see a consolidation at this level or lot of wicks I will jump in a long position. Basically the daily 50EMA is laying exactly at this strong level of S/R so we might see a reaction from it. This setup is entirely dependent on the following 4H or daily candles.
BTCUSDT Potential Harami bearish on 1MA Harami bearish, candlestick reversal pattern, is about to occur on 1M chart twice after the All-Time-High event. If this projected drawdown plays out. This indicate a strong bearish signal. Harami is highly reliable in bearmarkets, in which pattern is a signal of top price. A Harami bearish just played on 1W chart. This replication on monthly chart will signal potential lower low, i.e. the bottom 15k of moonbois is nothing but a dream.
Greater timeframe, greater reliability.
The micro price action is performing like a final phase (E) of distribution pattern of Wyckoff method.
Now, on hourly chart, we can see a Head and Shoulders top formation targeting local demand. Also, an Alternate Bat harmonic pattern can occur, projecting price more drawdown, as we can see on chart.
Abandoned Baby bearish candlestick pattern is also performing on H4.
Oscillator Fisher Transform bearish.
Elliot Wave Method ]
Bitcoin seems to be ready to ride a route-off of this choppy bear market, as in a turn-point to made the 5th wave of an expanding ending diagonal, in which a bearish impulsive wave can occurs to throw-over this broadening wedge structure. This indicate potential lower low.
According to my wave count, Bitcoin is about to accomplish this actuall supercycle, making a wave 4 of an expanding ending diagonal, in which one more supercycle may complete this potential pattern, which a new ATH can surpass 200k. The 5th wave of the ending diagonal, which will be the next bullrun supercycle to complete the wave I of the Grand Supercycle, don't needs to touch the upper trend-line. For the validation of this pattern, the bottom of this actuall bearmarket needs to be accomplished, completing wave 4. Then, the shape of the channel will be definetly drew. If this market respect Elliot Wave rules, a severe bearmarket will occurs to made the Wave II of Grand Supercycle.
From a chart pattern perspective, this peak can be consider a pullback to Head and Shoulders neckline in confluence with the back-test to anchored VWAP from ATH. Indicating turn-point.
Fibonacci
Historically, In all corrections, BTC retraced either 88.6% of the same measured Fibonacci retracement, decreasing more than 80% in it's price from each new all-time-high. As we can see applied on this chart, a drawdown either 50% can be expected.
Pivot levels
Stablished pivot levels from the sum of HH+HL+Close:3 from the choppy sectors selected. in a fractal manner, the pivot level is a potential area of interest to re-entry. The price can shakeout in this range due to the anchored VWAP from candle of 13-Jun'22 reaction, thus I've pinpoint these levels to be watched.
Harrmonic pattern prediction
In prediction, a Partizan 2.4 harmonic pattern can be formed on this speculative bottom region, lead price above to 40k supply region.
Selling zone at EURUSD Yesterday did not provide new opportunities.
We have seen a hold and continue to expect to reach the resistance zone.
On pullback from it, we will look for sales entry.
The goal remains a breakout of the previous bottom, and we will determine the specific profit levels after the end of the correction!
There is no reason to buy at these levels!
SPX: Strong Bullish Reaction.• The SPX did a bullish reaction, just above our key support level at 4,100, which we’ve been monitoring for a few days;
• This indicates bullish continuation, and despite the correction this morning, the index still looks bullish;
• In the lack of bearish reversal structures, the gap at 4,218 is our next target. So far, there’s no bearish sign on the index;
• Yesterday, it did a Bullish Engulfing pattern, and it is quite normal to see short-term corrections after the bullish candlestick – but it must not drop too much, otherwise, it might frustrate the pattern;
• I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
Someone asked me my view on GoldI was waiting for time to visit my hairdresser while seeing a message left by my follower on my thoughts of Gold.
I must highlight this is not any investment or trading advice, but my opinion on the next best price to look at for a buying opportunity, should I choose to long XAUUSD.
I'm waiting to long XAUUSD at $1840.29 when the market stabilises and respects the Point D of this Bullish Shark Trading Pattern.
One of the way is to wait for the 3-bar reversal as a confirmation signal.
No change on EURUSD Yesterday, EURUSD hit 1.0690 and started a bearish correction. This is an important Fibonacci level of the last rise and we see the reaction.
We will watch for a rise to 1.0808-35 and there will be opportunities for further selling on a reaction.
The goal is a new test of the level and a breakout.
There are no entry options at the current levels!
Some Aggressive Long IdeaI have a crazy idea to long GBPAUD just like that. Well, at least it is seated within the consolidation zone, the weaker bear zone with a series of indecision candles and RSI Divergence.
I think I'm good to go, I see how this candle reacts.
Final Decision to be made at 4pm(SGT)
New sell zone on EURUSD Yesterday, the downward movement in EURUSD continued. This remains the more likely direction at the moment.
For new entries, we look for a correction to the 1.0825-50 sell zone.
Upon reaching the area, we monitor for a reaction. Entry is made only after pullback !
The target remains 1.0690 and break.
Sells on EURUSDThere was a lot of news last week and we saw great volatility
This week we will look for a continuation of the drop towards 1.0692.
For this we need to see a correction to the sell zone.
It is currently at 1.0870-80.
On reaching the zone and pushing back we will be looking for an entry!
GBPUSD-Weekly Market Analysis-Feb23,Wk2GBPUSD is on a Bullish Trend, however, I'm waiting for a counter-trend trading opportunity and waiting for a shorting opportunity at 1.2264. One of the reason is because it lands within the sell zone and the precise level is due to a more advanced charting technique that I want to keep it simple.
The Three Black Crows PatternThe Three Black Crows or as otherwise known Three Soldiers are a formation of price continuation showing how the bears are taking control over the bulls to reverse the trend as we can see here.
Price comes down buyers try to push it back up only to be reversed by sellers overpowering them so it falls back down the buyers try again but realise the bear is the almighty and with that last attempt they withdraw from the market causing a big sell off with a strong downward movement when just the bears remain
key points:
- last attempt of the bulls
- price goes up and bears push price down every time
- bears in control after a long uptrend shows prelude to sell
The Russell Riddle: which chart is 2008? ($IWM W) For the answer, scroll down to the comment section.
Two charts of $IWM weekly TF.
One chart is current (as of 2/4/2023).
The other is 2008 ,up to 4 candles before the 50% drop.
Which one crashed 50%?
The conundrum: why do we assess current price action as bullish, when a similar pattern resulted in the GFC in 2008?
There are many possible answers, none of them wrong.
The one that interests me is the possibility that our bias is more extreme when we have experienced (traded) the price history. In this case it means experiencing the climb from the October 2022 lows. The alternative is basing our bias on the price history in a chart but *without* experiencing the returns themselves. For example IWM's similar price action in 2008. Any difference in sentiment would be consistent with studies showing that decisions made from experience often diverge from those based on description.
My Anticipation on XAUUSDso with the volume the xauusd is pushing down with help of NFP, i think the trend is changing because the xauusd has already reacted of the monthly high that lead to the down trend in trendline that I showed in my analysis. so I think waiting for retracement and breaking of this present low structure on the daily time frame will confirm a down trend. with the it was shown in my analysis there will be major retracement of the weekly O.B before pushing down again to the monthly O.B. where there will be major push up before coming to take the monthly low.