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Confluence

CTKUSDT wants to retest the supply zonethe price had a breakout from the daily dynamic resistance and static one on 1.2$ and hot the market is testing the 1.4$ daily resistance. On the 4h timeframe, the price is creating an ascending channel and got the first rejection from the supply zone on 1.475$ How to approach? If the price is going to have the breakout from the 1.4$ confluence zone, we could see a new retest of 1.5$. 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 🦐
Long
by InkyGrip
Confluence of supportsIn the 30m chart, price is in a contracting triangle. Momentarily fell to a support and came back up. In the daily, price has broken from a channel and in the weekly, entering into another channel. I expect continuation to male a (d) wave in a contracting triangle of a Wave 4 on the weekly. The d-leg of a Wave 4 is counter trend and make an ABC form. Price is breaking a resistance at the weekly, confirmed by MACD. A pull back is expected in an ABC, if not now then at $53000 which will be supported by the current resistance. The current support is at $44000. R/R = 1.71 2% risk of a $30000 is 0.196 Bitcoin The confirmation to enter comes from the hourly. in 1-hr chart there is pin bar. Robinhood does not let me! My account sum has jumped up, it shows only $25'000.00 available to invest, and it dies not let me use it with an error! Daily: Weekly: Ok. Let's wait for the pullback!
BITSTAMP:BTCUSD
by RK108
How To Trade Divergence Divergence simply means separation.. When two similar things things---get separated and start going different directions, you have to consider which direction to follow. That's exactly the concept of divergence. When trading, and you spot a divergence, you want to be sure to understand what they are trying to tell you. In this video, I explain the concept of divergences, how to trade them and what to do when you sight one. Be sure to like, follow and comment. I want to see those div trades!
OANDA:NAS100USDEducation
by lazyluchi
EURUSD can move higher? 🦐EURUSD on the 4h chart after yesterday's rejection by the confluence zone between the daily support and the ascending trendline started a new move to the upside. There is still uncertainty in the market and any news can affect with higher volatility the price but, at this stage, the price is testing a minor resistance and possibly we can see a test of the higher weekly resistance. I can notice how the 0.5 Fibonacci level is exactly at the daily support and also ho the price started a range between the 2 struvtures. How can i approach this scenario? I will wait for the break and close above the structure and in that case i will check if the price satisfy the Plancton's academy rules to set a nice long order. –––– 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.
Long
by InkyGrip
4
OBEROI REALTY Looks good for positional trade.Aim for 5-8%. It can be easily achievable in 1-3 days. My belief is to choose high winning probability trade with a risk-reward ratio going from 1:1 to 1:2. The reason for booking profit of only 5-8% is because the market direction is not sure at this point. So better to aim for 1:1 risk-reward and rotate your money in better opportunities. Take trade if all conditions meet at the end of the day 3:15-3:30 PM. If you have any questions or suggestions, please leave a comment below. I will personally reply to every single comment! If you enjoyed this analysis, I would definitely appreciate it, if you smash that like button and maybe consider following my channel.
NSE:OBEROIRLTYLong
by Chartmaniac
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