Get started

Confluence

BTCUSD Trendline + Dual Fib Ext. Confluence - Reversal at 47,200Since the last local low of $30,000, BTC has been rising while respecting the same trendline, similar to $SPY's movement the past few months since the pandemic crash in March. Quick, large rises followed by slow uptrending, then rounding a top and touching the trendline, only to repeat it all again with a quick reversal. The next touch of this trendline should be in the next few hours at $47,200, according to the trendline as well as a fib and a previous resistance that has been turned into a support. The reversal will be quick, so make sure you get your trade in as close as possible to the trendline, and feel free to DCA into the trade starting here. Any movement below $46,500 will invalidate this trendline and put further downside into the near future. If this reversal at the line succeeds, two separately drawn fibonacci extensions line up at around $54k, which should be the next target for the top of the rise. ETH is also a good trade based on this. It's been suppressed at 3350 for a long time and is itching to break out and needs a push from big brother BTC to achieve it. Don't overleverage and set a stop loss. Good luck!
Long
by Slip1244
6
USD/JPY CONFLUENCEHow much more confluence do you need. 1. Price looks due for a retracement, means nothing but it looks that way. 2. Rejection wicks finding resistance at a FRESH supply zone. 3. Weak price action seeing exhaustion after a big push phase with Rejection wicks and Doji on the four hour. 4. Bearish momentum divergence with a bearish macdoodle cross. 5. Price looking due to revert back to the 50/200 Period moving asses (White,Purple) 6. Fingermybumnacci 50/61.8 lining up with our TP target and most importantly with Market structure (black lines) 7. TP target also lining up with a reversion back to previous daily support level. (Blue Lines) 8. Bollinger bands with a standard dev of 3, Just got a touch on the top of channel (Quite rare) It all means nothing on its own, Price action is ALWAYS number one but I prefer to gather as much evidence as I can to support what PRICE is telling me. Trading is just about making an educated guess based on the information at hand. "Price is where? In reference to what?" -Me, The real GMBP
UShort
by UnknownUnicorn13771263
Testing kits on Delta VariantFundamental Quidel: a manufacturer of diagnostic products, frequently rises or sinks in response to developments in the coronavirus pandemic, as a big part of their revenue comes from its COVID-19 testing kits. As the Delta Variant is worrying countries around the globe, QDEL will be interesting to watch. Technical Analysis As you can see in the weekly chart, the blue horizontal line which is approximately $150 was tested multiple times, is now also coinciding with the 50ema, which has worked well as support. A potential target could be in place, as there is still a downtrend from the Pfizer Vaccine initial news of 95% efficacy.
NASDAQ:QDEL
by dorfmanmaster
1
What do you know about Rising Wedges?Gold has broken the $1800 level and is now trading just above it. This rising wedge occurred after a preceding downtrend which is going to act as a continuation of the preceding downtrend. I would boldly state that the recent gains XAUUSD has been experiencing is a pullback to resume/continue the original downtrend. If the high impact USD news (JOLTS JOB OPENINGS) being released is positive better than expected/positive, then my idea will be proved valid but until then, open sell limits with good risk & money management. If you like this idea, leave a like, share your thoughts in the comment section and most of all, hording knowledge is bad, so share this idea with your fellow traders !.
FX_IDC:XAUUSDShort
by LaBOSS_FX
1