Channelbreak
GBPJPY Trade Idea - Elliott WaveLet’s discuss the price chart of the GBPJPY currency pair based on the 480 minute timeframe.
From the Elliott Wave perspective, GBPJPY has completed a 5 wave impulse up of two degrees, specifically, Minor Wave 5 and Intermediate Wave (5). The price has recently broken below the bullish channel of Minor Wave 5. Most momentum oscillators are also forming a bearish divergence pattern.
From the Hurst Cycles perspective, the composite model line which measures the combined cyclical pressure, topped on April 18 (red vertical line), and is projected to form a bottom on June 28.
Based on this, we can expect prices to head lower to at least the 38% Fibonacci retracement level of the prior impulse. This will serve as the first area of support, but price should move beyond this level at some point thereafter to test the 50% Fib retracement level.
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GBPJPY Finally Break 55-EMA and ChannelGBPJPY declined slightly on the weak Pound sterling.
Technicals:
On the lower side, immediate support is around 164.50,
breach below will drag the pair to the next level to 164/163.90/162.85.
The minor resistance to be watched is around 168,
EGLDUSDT Wants to have a breakout from the Weekly resistanceThe price got a rejection from the weekly resistance on 164$ and not the price is creating another bull flag above the previous descending channel
the price retested the previous dynamic resistance as new support exactly at 0.618 Fibonacci level.
How to approach?
The price needs to have a breakout from the weekly resistance and descending channel. Beware to the left, you can find the supply zone. So if the price is going to have a breakout, According to Plancton's strategy , we can set a nice order
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
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Follow the Shrimp 🦐
NEARUSDT Wants to retest the ATH!?The price is testing the 4h support after the rejection from the supply zone on 20$ as you can see on the daily chart (the upper one)
The price is creating a ascending channel below the weekly resistance on 17.7$
How to approach?
The price could retest again the supply zone on the 20$, so if the price is going to have a breakout from the weekly resistance and dynamic 4h resistance, According to Plancton's strategy , we can set a nice order
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
ADAUSDT is creating a descending channelThe price had a breakout from the descending channel and got a rejection from the weekly resistance on the 1.19$.
On the 4h timeframe the price is creating a descending channel on the 0.786 Fibonacci level below the monthly resistance.
How to approach?
The price needs to have a breakout from the channel and monthly resistance, and flip it into new support. According to Plancton's strategy , we can set a nice order
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
the expectation for a breakout is higher than you think!!hello everyone
ALGOUSDT may have a breakout to the upper channel in 4 hours timeframe; I Hate to repeat myself over and over in every analysis,but volume,trend lines and bitcoins leaving the brokers,show a possible breakout and an uptrend(possibility of breakouts are 40% and possibility of reversals are 20%).
If we breakout of this level of resistance,our next level will be on 0.78$ which is a weak one for now.
IOSTUSDT is creating a descending channelThe price is testing the 0.786 Fibonacci level on the daily timeframe on the weekly support (0,028$)
On the 4h timeframe the price is creating the main descending channel and the market is creating a channel within it.
How to approach?
The price could retest again the 4h demain on 0.027 if the price is going to lose the dynamic support. According to Plancton's strategy , we can set a nice order
The scenario is invalidated if the price is going to have a breakout above the monthly resistance (0.32$)
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
GBPJPY Trade Idea - Elliott WaveLet’s discuss the price chart of the GBPJPY currency pair based on the 240 minute timeframe.
From the Elliott Wave perspective, the price action appears to have completed Wave B of the corrective sequence just beyond the 78.6% Fibonacci retracement level. GBPJPY is currently progressing in Wave C down.
From the Hurst Cycles perspective, the composite model line which measures the combined cyclical pressure, topped on April 6 (red vertical line), and is projected to form a bottom on June 13.
Based on this, we can expect prices to push lower from here. The confirmation will come upon a breakout below the lower channel line and is likely to find support when it reaches a 100% Fib extension of Wave A.
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is ITC gonna prove everyone wrong this time ?In recent years, $ITC.NSE has been talk of the town but on insta memes for its underperfomance. But recent rally seems to have some surprise for traders as it has crossed and closed at 267.80 which is 3 years high. Technically, momentum is strong with volumes and also it is running up towards the channel resistance of 282 above which a new DREAM rally would be initiated. But on downside support is at 200 WEEKLY average at 235 which can act as Stop loss for investors and fresh traders.
ETHUSDT is creating a channelThe price is creating a channel between the demand and supply zone on 4h timeframe.
on the daily timeframe, the price is trying to hold the 34100 support and retested the previous W's neckline.
on 4h timeframe the price lost the channel, and now the price is testing the previous dynamic support as new resistance
How to approach?
- for a bullish scenario, the price needs to flip the 3520$ with volume and momentum, the price created a double top on it.
- Otherwise, if the price is going to lose 3240, we could see a retest of 3k
According to Plancton's strategy , we can set a nice order
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
BTC downchannel break + important blockBTC breaks the downward channel with power
Observing the same block sizes I used is extremely accurate.
for the next block, there are 2 scenarios. either up or down but more chances are to go up. if the news were ok.
#pure_PriceAction.
follow for more clean content
EURGBP AnalysisSee the picture for analysis:
-Price was in a downward channel creating
lower lows/ lower highs.
-Price has now broken out of the downward
channel and now creating higher highs/
higher lows.
2 options here;
1) wait for the price to enter the demand zones
and enter on the confirmation trades.
2) buy the demand straight up.
ETH ---> Break UpTrend ETH has broken its uptrend line and stabilized below it. Now we have to wait for its pullback to the broken trend line, if we see a suitable CANDEL Pattern, we will enter the selling position.
XAG USD - Metals on the up Series 8G'Day traders,
Master Key for zones
Red = Three Month
Blue = Monthly
Purple = weekly
Scarlet - Four day
Orange = Daily
Risk Warning
Trading leveraged products such as Forex, commodities and CFDs, carries with it a high level of risk and so may not be suitable for every investor. Prior to trading the foreign exchange, commodity or CFD market, consider your investment objectives, level of experience and risk appetite. You should never risk more than you can afford to lose. If you fail to understand or are uncertain of the risks involved, please seek independent advice and remember to conduct due diligence.
Monthly zones
These zones have been highlighted due to the imbalance showing a strong pivotal reversion point where price has upon a overall pattern impulse, correction impulse - similar to Elliot Wave Theory but on a larger time frame.
The monthly wicks also highlight a great opportunity where the imbalance is strongest within the wick zones, in the past, there are multiple levels of imbalances as highlighted clearly in the blue zone.
The main focus of the monthly imbalances is if price fails to create nd establish higher lows, then the trend is up and right moving - adding positions using a risk-adjusted DCA method for opening smaller positions upon confirmation.
(Now CP from here on).
Where Buying upon a CP level is clear is based upon two factors;
1. Time
2. Understanding the levels from a departure level be it buying/selling imbalance.
The departure level is hardest part to predict, so ideally it's best not to - which why zones are drawn especially where all time highs or new tops exist.
However, with reference to the chart below - Drop Base Drop or DBD from now on. to a CP level is clear on the timeframe below.
Weekly Chart
We are now on our way from the buying imbalance against XAU
Expect at the present time where XAU and XAG will tail off, but establish a pivot from the Rally Base Rally -on the lower timeframes, price has shown the Rally (impulse), now looking to form the corrective base (imbalance) and then continue the next Rally (impulse).
Over a two and a half/three year chart, this is now evident in the case of Silver.
The weekly chart is showing at present a squeeze, where price of XAG is creating lower lows, but now using the CP levels in conjunction with the monthly chart, a clear range is present.
However, from this clear range - price has departed the imbalance and will now create bullish moves up to weekly pivot levels based around $27.7-28.6.
From a smaller brief outlook, price has created an internal correction where price has now tested the 'pink' infinity line as a net imbalance test of the probable low.
review Fig.1
The Original levels for XAG - as an upper imbalance have not been utilized, so a bullish probability is heavy as opposed to the upside is very much present.
Price will become bearish - below a break of $24, which correlates to the break of the 'infinite trendline'.
Short term Analysis:
Using the daily chart.
Price has experience a Bullish rally, and now currently price has broken the steep line and will look to pivot to retest the 'daily wick low' and from here created a base, before the next impulse.
The current price will now consolidate but will add a position where a clear pivot and confirmation is offered. For example $24.20
Refer to the chart to see the clear trend break and overall view of the Imbalances at work.
XAUXAG Monthly
Both of these charts, highlight the Original levels or even the fresh level at the very top of the Departure. With imbalances, price will always retest the critical zones.
XAU/XAG weekly
This is a smaller timeframe, but what can be analysed from the take away here is a simple three level of profit taking whereby price will move towards these levels as these are fresh levels at current with no retest.
Refer to the analysis for XAG, XAU previous to review some solid work!
Not available:
DOW/GOLD Monthly, Weekly analysis.
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ETHUSDT is trying to have a breakout!the market had a breakout from the descending channel and now it's testing the static resistance on 2750. Like Bitcoin, Ethereum needs to create a new Higher Hig above 2800$ (better above 2900) with confirmations and volumes
On the 4h Timeframe the price is testing the daily resistance below the 4h supply zone on 2800-2900$
How to approach?
IF the price is going to have a breakout from 2900-2950 and retest the previous resistance as new support, According to Plancton's strategy , we can set a nice order
–––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
NQ Power Range Report with FIB Ext - 3/17/2022 SessionCME_MINI:NQM2022
- PR High: 13995.00
- PR Low: 13953.25
Evening Stats (As of 2:05 AM)
- Gap: = N/A
- Session Open ATR: 471.74
- Volume: 32k
- Open Int: 181k
- Trend Grade: Neutral
- From ATH: -16.50% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 14675
- Mid: 13500
- Short: 12390
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BTC lost its downtrend channel, What's next?BTC lost its downtrend channel, What is next? Is it a bullish sign?
As you can see on the chart, BTC has lost the strong downtrend channel, This channel was directing the price from the $45,000 area to lower lows.
Usually, after the break out of a major channel, A trading range will be created, This happens because Traders are making decisions to specify the future movements in the market.
The upper scenario is happening for BTC right now, According to channel breakout and bulls weakness, I think the price needed some trading range between $40,000 and $36,000 area BEFORE creating a new uptrend or downtrend channel!
At the moment Trading in this range is the correct decision, Sell near resistance and Buy near the support zone.
ETH/USD Slumps From $2945 ResistanceAgainst Bitcoin, the daily chart shows that the Ethereum price is trading above the 9-day and 21-day moving averages around 0.071 BTC. As soon as the price crosses above the upper boundary of the channel, there is a possibility that additional benefits could be obtained in the long term and the next resistance key above 0.075 BTC is close. But, if the price begins to rise, it could break above 0.078 BTC and above in the nearest term.
