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EURUSD possible bearish scenario 🦐EURUSD on the daily chart tested the weekly resistance with a spike after the recent low. The price seems to lose again the bullish momentum and I can expect a new bearish leg if the pair will confirm its weakness during the eu market session. How can we approach this scenario? I will wait for the break below the confluence zone between the ascending trendline and the support area and if the condition will be satisfied we will set a nice short order according to the Plancton's Academy rules. –––– Follow the Shrimp 🦐 Keep in mind. • 🟣 Purple structure -> Monthly structure. • 🔴 Red structure -> Weekly structure. • 🔵 Blue structure -> Daily structure. • 🟡 Yellow structure -> 4h structure. • ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
KCS - Purple War Zone!Hello everyone, if you like the idea, do not forget to support with a like and follow. KCS is overall bullish trading inside our brown trendlines and now approaching the lower bound / trendline. Moreover, the area 15.0-16.0 is a "Resistance turned into Support". So the highlighted purple circle is a very strong area to look for buy setups as it is the intersection of support in green and lower brown trendline. As per my trading style: As KCS approaches the highlighted purple circle (area) I will be looking for possible buy setups (like a double bottom, trendline break, and so on...) Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
11
Signal Providers vs Confluence Providers “If you give a man a fish, he will be hungry tomorrow. If you teach a man to fish, he will be richer forever.” Except for the actual execution of trade entries, forex signal services perform all of the functions of a robot. A "professional" trader may provide trading signals (for a price, of course) for customers to act on, in addition to maybe employing an automated program. You may, however, be paying for a signal for which you have no idea what the reasoning is or how the "expert" came up with it. You have no understanding what the transaction is based on; all you know is that the "expert" says it's a good time to buy or sell. Finally, you're depending on a third-party source's analysis rather than your own. In a normal forex signal service, the programmer builds a set of technical indicators and rules, which are then followed by the software. If the price action meets the signal service's criteria, the user will get an email or text message with a notification or alert to respond. The user must eventually determine whether or not to take the signal and trade it. While it may appear that you have greater control over whether or not to trade, the signal service is still programmed to follow a set of regulations. If such case was so profitable, why would anyone bother with forex signals in the first place? Instead, they should concentrate on trading with their signals and amassing a fortune for themselves. Now let’s look at evolved way to help traders. Let’s call this group confluence providers. Confluence providers also share the trade they’re taking on; however, unlike “Signal providers” they fully explain the reasoning behind the trade. This group is called confluence providers, because you can usually compare your own bias and analysis with the detailed description of theirs. The picture above can serve as a good comparison between these two categories. Feel, free to share your personal experiences. NOTE: Forex market is full of unethical people trying to steal your money, so use your common sense when something is too good to be true.
BITSTAMP:BTCUSDEducation
by Investroy
11
USDCAD Trade #46Personally, I am not in this trade. USDCAD looks like it is in a monthly range which is probably the best way to learn how to trade. If weekly/monthly trendline breaks and demand dries up it's safe to say bears may take prices down to 1.06 or lower (from a technical point of view). Look for the negative correlation between oil and the Canadian dollar. I would plot on the daily/weekly. Very rarely I look at the monthly but so far everything looks clean (Daily<-Weekly<-Monthly) in that order. If you take the Fibonacci tool and go from prices 1.44 to 0.93 looks like the 0.50% is confluent with weekly demand.
by Mr.Pip
4
BTC Update - what's going on? Confluence appears...The latest "bull" move seems to have topped out at a nice confluence. Hindsight is 2020.... too. 2022... Confluence: - 1.618 extension off the low. - 382 retracement of the bear move from 69k to 32k - 12 Week EMA - What about the 200 day MA? I'm starting to feel bull, but we'll need to see this retrace with a proper bounce. Lots of indicators suggest an uptrend regardless if it is bull or a dead cat bounce. If we're lucky we'll retrace the bear move to 786 and get some nice bear entries after enjoying a nice bull rally. My count remains topped out at 69k, while some suggest 100k. I'm willing to compromise at 75k based on some previous analysis but not 100k... let's see! :)
by Shadowfigure
$PSX going short - high confluence, good r:r setupfundamentals: bang average. decent for short. sector: XLE sector at resistance and overbought - good to short - matches $PSX sentiment thesis: wedge playing the bounce from resistance convergence spot down to support buy confluences: horizontal resistance zone (very key level back to 2015), resistance trendline, wedge pattern continuation, no volume above, POC below, 200ma below (in middle of wedge which shows consolidation and validates wedge thesis), rsi overbought, vortex bulls high bears low (both above the minimum support line), rsi and vortex bearish divergence (shows slowdown in bullish momentum), XLE sector over extended and easy short stop confluences: breaks key level resistance value zone, breaks resistance trendline, breaks relevant noise wicks rsi and vortex will be very over extended, invalidates thesis because breaks key resistance level and also breaks the wedge thesis risk/reward: risk 1.6%, make 6.4% conservatively 1:4 but will let run by not taking profits, but moving stop up trading plan- stop: $90.60 tp: $83.41 validation strategy: move trailing up quick when in profit to secure gains but also give breathing room below key support, then let run with trailing and keep moving it up, take profits at TP if market's choppy and happy with profits, if not manual stop below and let winner run.
NYSE:PSXShort
by Hug0rr
$CIVI going short - high confluence, good r:r setupfundamentals: decent fundamentals for a short sector: XLE at key level (resistance) and already overbought, good short thesis: horizontal resistance play playing the bounce back down to support buy confluences: horizontal resistance, no volume above, resistance trendline, poc below, 200MA below, rsi overbought, vortex bulls high bears low (both of them well above the minimum support line they need to be to bounce), rsi bearish divergence, XLE sector over extended and at resistance - easy short stop confuences: breaks horizontal resistance zone, breaks all relevant noise wicks, breaks resistance trendline, rsi and vortex will be hugely over extended, will have broken to aths (invalidates my thesis) risk/reward: risk 1.5%, make 6.9% 1:4.5 conservatively - lovely R R - low risk, decent reward and can run much higher to 12%+ normally trading plan- stop: $59.67 tp: $54.73 validation strategy: maybe take profits at TP if happy and market's choppy, if not let it ride with manual trailing which placed as in profit, below key support as high as it wants - let winners run!
NYSE:CIVIShort
by Hug0rr
UPDATE 2.0 - GBPCHF - CONT or BREAK-OUT Good Evening people… The new Trading week is upon us and with this I would like to revisit the Technical Analysis of the GBPCHF The initial post was 10 days ago and the market had progressed slightly towards our target zone for a potential trade set-up [For the initial Technical Analysis follow the link below ] Moving on to the progression of the chart and further Technical Analysis  Previously, Top-Down Analysis of the Monthly & Weekly were provided. Both timeframes remain pretty much identical - Other than the previously identified Pin-Bar  Now, I did predict that this particular Pin-Bar may just return to the 1.235 Support , which is also a 61 FIB zone for the previous Low [ 1.299 ] With, the Pin-Bar being the a new Higher-High in theory Furthermore, I did mention that Price would bounce off this level - And, It did precisely that! Additionally, This bounce closed back above a newly marked out Horizontal S&R Which brings us to the Daily TF… On the Daily - We can see that our previously marked out Descending Channel is still intact Furthermore, you can see the additional Horizontal S&R I marked out This has been closing out on a daily basis at the back end of last week Moving Down to the H4 … We can see that the market did Break-Out of the Support of the previously marked out Ascending Channel Following this Break-Out - Price bounced off the 1.235 Support and has been in a strong trend for the majority of last week This being our originally predicted zone of Confluence  and target for potential trade set-ups As I previously mentioned - This is an abundance of Confluence Being a meeting of the  H4 Ascending Channel Support Resistance of the Daily Descending Channel and Horizontal Resistance  [ Beautiful, right? ]  With this in mind, I am still looking for the following… At this  1.2599 Confluence - A Break-out  with a Daily Close before any long positions can be considered  Alternatively, any type of  Bearish Price Action CS or simply rejections would have to be considered as  Shorts  Also, I will be monitoring both the H4 and Daily TFs - As, they both currently seem to be respected at the levels on these TFs [ I am expecting this to alter though ] Although, on the H4 - After the Break-Out , Price reached the Support within 10 sessions But, has taken considerably more and still moving to reach the new Resistance of the Ascending Channel This personally being a chart pattern that is preferred to a similar period of sessions for returning to the new S&R after a Break-Out Finally, We do have a Monthly close upon us this week - Such a close my provide us with further clues as to the future movement of the market If anyone is following the original GBPCHF Technical Analysis - I hope this has provided an alternative insight to the chart Thanks for tuning in people & Stay Cool!
by fxhole_
UPDATE 3.0 - GBPCHF - CONT or BREAK-OUT UPDATE 3.0 GBPCHF Hope everyone has a good weekend... Today, I will be kicking off with a revisit to the GBPCHF As you guys may be aware - I have previously provided Technical Analysis for this currency and have been watching for the best part of the last 3 weeks You can find the previous analysis at both the links below… ... So, within the previous analysis - I discussed how the market was progressing upwards 
Furthermore, the Descending Channel that I originally marked out on the Daily TF is still intact And, with Price still pushing up to the Resistance Additionally and on the H4 - I marked out and Ascending Channel with a Break-Out to the downside And, over the trading week - The market continued to be bullish and retest the support of this channel. Although, after testing this support - Price did fall slightly and pushed up again for a further test. For me personally it was not at the confluence I was looking for to short the market Following this, a further Ascending channel was identified This providing similar confluence at the previously identified level of 1.252
 So and again people - We are looking for the reaction at the 1.252 level of confluence. Currently, I am on the side of sells - but, who knows, right? Any for of Price Action in. for the a CS would be sells Alternatively, a close above the 1.252 resistance zone I would consider Buys As always - thanks for tuning in people Keep it real!
by fxhole_