short EurCADbig drop yesterday after ECB announcement
looking at this confluence of fibs, Ma's and previous structure to short this
Confluence
EURUSD confluence - soon ready for a buyStrong confluence around the current area. I'll be looking for a bottom to build at the current area and the break of a reversal pattern before going long.
We might see an even bigger upmove up to the daily -27.20% Fib, but for now I'm just focusing on the two targets marked on the chart.
Safe trades!
Bud
waiting for confluenceso to begin with we have a engulfing pattern on the monthly to give us a bullish bias BUT WE DO HAVE MOVING AVERAGES SAY WERE BEARISH, we have a weekly bullish bias but we do have broken structure on the 4h and 1h for a bearish bias, i do have my red key support and resistance and i do also have quarters theory and a Fibonacci on my 4h so were going to have to wait and see what plays out if i do get my divergence on my 61.8 on the 1h i will take the buy. if we continue in the uptrend that were currently in on then i will wait for a retest around the price of quarter 1.29250 which is also on our key Fibonacci 38.2 which will be in confluence with our monthly daily and weekly buy. we can hold up to previous quarter 1.3000 if we get our awaiting confluence.
BTC bearish price action coming soon?
The area of confluence ($7742-$7570) is holding up strong.
Area of confluence: combination of multiple strategies into one strategy. It is useful to find a support or resistant range for the asset's price action.
How to find: One way to find the area of confluence is finding the overlap within separately mapped Fibonacci retracements
Today's candle is currently closing under the 10 MA. If it closes under the 10 MA ($7453) it will be harder for the price to move up.
The OBV is sloping down which indicates a price drop.
BULLISH SITUATION: If today's candle prints a green 1 that will break the count which could lead to an increase in price for the next few days.
BEARISH SITUATION: If today's candle prints a red 8 the probability of bearish price action in the coming days are high.
On the lower time scale (4hr, 2hr, 1hr) the signs are pointing to a positive price gain; the OBV is bullish and the TD is looking bullish. So, on the short term we might see an increase on price since the shorter time frame is showing strength.
This is actually bearish on the long term (next few days) becuase that will print a green 8 for today (read the bearish situation above)
We shall see how today closes. Today's close is crucial in indicating the price action for the next few days.
I will keep this updated
*As I was writing this post, the price climbed $30 in 3 mins.
EURJPY Sell ideaH4 - Bearish divergence, basically we are looking for the price to create lower lows, break below the confluence of Fibonacci zones at around 128.20.
H1 - Break below 127.95 should provide sell opportunities.
Short on 4h 61.8 Confluence.We have a sell on the 4h and showing a divergence on a 1h, we also are in confluence with the Daily chart as well which gives us a better reason to sell off the 61.8 and get back in the daily trend. We have a trend line break on the one hour as well as a possible head and shoulder forming on the 1h so to sum up reasons
1. Daily confluence BEAR MARKET
2. 4h 61.8 fibonacci
3. Supply zone at 61.8
4. 1H trend line break
5. 1H head and shoulders
GBPCHF Buy IdeaD1 - Price has currently reached the confluence supportive zone formed by the bottom of the channel and the 161.8 fibo extension level of the double cycle.
H4 - Potential second false break and bullish divergence forming.
Once we get a second false break with bullish divergence we may consider it as evidences of bullish pressure and then we may start looking for buys.
UPDATE:GBPUSD 19pips ? @paperboiFXThis is an update to an idea i posted a few days ago! PaperboiFX gave us a signal and we Setup the trade:stop loss at previous swing low, i added the support and resistance indicator (based on number of swing high/low) to help visualize and negotiate our stops and avoid getting stopped out before movement in our direction. That being said: we still need to find the take profit at the closest ,00 or ,50 from 1:1 risk/reward ratio(and/or) nearest support/resistance! lets see what happens when the market opens in a couple hours FX:GBPUSD
ETHBTC Market Overview 0520 2018Given the structure of the ETHBTC pair I am BULLISH
Ethereum is the BASE
Bitcoin is the Quote
When price of Ethereum gains MORE Market Cap and diverges away from Bitcoins dominance, we will see this chart move UP
We can see consolidation / accumulation phases as if this was any other tradeable pair
Whether you trade on Leveraged accounts with Margin or directly invest through an exchange of your preference...
Targets outlined in Green
Looking for a breakout to confirm directional bias
Important Fundamentals include: G20... Technical Implications of Adoption, New Investments
USDJPY FRIDAY ANALYSIS - THE BIG DROP 05/18/18
UJ formed an engulfing bearish formation on a key level 111.000. 4H created an evening star. Daily is forming a kangaroo tail on a key resistance level. 1H MA's crossed. Next week's bearish trend has formed. CLOSE all long positions at 38.2% PRZ. Short at minimum 38.2% PRZ with 3% risk. 10% risk at 78.6% PRZ.
Swing Highs & Lows, Support, Resistance & Confluence ZonesHello. Welcome to some random guy's educational post on Tradingview - who thinks he knows enough about trading to teach other beginners. Whether you are a beginner at trading or investing, these tutorials will help you tremendously in gathering a basis for your interest in this game. Because in fact, this is a game. A game of wins and losses, how we manage them, and how we profit over time. The most important piece to this game is 'Risk Management'. However, I need to make sure that at least the basics of swing lows/highs, supports and resistances are covered before I can go into a higher detail of what I want to cover in Risk Management.
Well. What the hell is this? What in the living hell are swing highs and lows? Why do they matter? What is the point? Doesn't the price just go about randomly?
Ahah! No. The misconception that many people have is that TA (technical analysis) is completely bogus. And that there isn't any correlation between where the price goes in comparison to where it's been. That my friend, is a lie. Though, predicting very far into the future using TA is extraordinarily hard, and I've learned that its just best to keep things short-term (most of the time), TA is a grounds to price action and the POSSIBILITIES and PROBABILITIES of the market. With TA, you are just accounting for what the market CAN do based on what it already HAS done. TA is never 100% accurate all the time, and is always likely to fail at some point because the probabilities in the market are never 100% probable and are never guaranteed.
The only probability that is guaranteed is that the price will go "up, down or sideways." If you say that, you will always be right :).
So let's get to it! What is a swing high? A swing high/low is a price point in the market before a reversal. Swing highs happen at the peak of the trend, swing lows happen at the valley/bottom of the trend. On the chart above, you will see the major swing highs in white, and swing lows in blue.
What is a confluence zone? Confluence zones are areas where there is a lot of activity, multiple supports and resistances. Typically either areas of indecision, consolidation OR areas of accumulation or distribution.
Consolidation: Areas where price volatility settles down, volume decreases, and the market is getting ready for a choice of a direction in price.
Accumulation: Typically referred to as an "accumulation phase," this is an area where traders begin to slowly accumulate (purchase) the stock, while shuffling out short orders. This typically is low volume, and reflects a level of consolidation. This happens before an uptrend.
Distribution: Typically referred to as a "distribution phase," this is an area where traders begin to slowly distribute (sell/short) the stock, while shuffling out long orders. This typically is low volume, and reflects a level consolidation. This happens before a downtrend.
Accumulation and Distribution levels are a part of the Wyckoff Theory. It's a pretty simple diagram that can be googled.
Now why are these even important? These levels can be used as points for a target on your trade, or even stop losses. Updates to come with examples of how these would be useful tools in trading.
EOS USD Updated Correction TargetUpdated to account for the full length of B, and assuming this is a zig-zag correction.
At the target for C (~$15.50), C equals 0.707 of A which coincides with a full retrace to 0.5 of the preceding motive.
I don't have any positions in EOS at the moment but I would consider it a short until around $15.50, barring a change in character of some sort.
#AAPL - FIBO CONFLUENCE @ $160 Fibonacci confluence @ $160.
Harmonic Gartley Pattern
AB-CD Pattern
RSI Divergence
All these four giving us clear view on #AAPL that price will bounce @ $160.
First impulsive wave or Bulltrap target.Risky play (Total %22)All targets, are one way or another ARE confluence zones.
For me this TEMPORARY reversal is perfect for a quick trade.
Road to 5k: Last update, Long/Short (~%80) Swing.Chart.
I would take profit @7.7k and 6.000-6400$ on the way back.
EUR/AUD - Bullish Shark PatternBullish Shark -
Do let me know your thoughts/comments on this shark pattern.
Goodluck
possible fib + confluence setupYou know me by now i like it to keep it straight to the point on why i took the trade
1. MarketStructure is telling me that we are in a bullish movement and have broke our previous high and looking to make our next lh to follow a buy
2. We are waiting for a fibonacci play off the 38.2 or 61.8
3. There is a supply zone at 38.2 or 61.8
4. Wait for a Candlestick bullish variation
5. 4h support at 38.2 and 1h support at the 61.8
6. Macd to confirm this setup
7. RSI to confirm this setup
WE WILL WAIT TO CONFIRM THIS SETUP
Confluence coming in to playOprah praying for dear life but for how much longer!!, Is the grass really greener in Oprah land? I think not but with confluence like this i'm open minded. Watching for development
EURAUD Bullish Trend ContinuationLooking for Bullish trend continuation on this pair at the %61.8 PRZ as it has other confluence on that same level
EURUSD LOOKING FOR SUPPORTThree areas labeled in the chart could serve as support for the falling EURUSD.
1). Area around the center of the descending channel.
2). 50.0% Fibonacci Extension
3). 61.8% Fibonacci Extension and round 1.22 level.
I'm still short 3 lots and up +200 pips across them in total. Will keep a close watch as this is a countertrend trade, although trade sentiment has about evened out.
