Confluencetrading
XAUUSD Short: 4HR Analysis I typically trade Gold on 1HR & below but this 4HR set up caught my eye
Confluences:
- Rising Wedge
- Clear Downtrend
- At an area of resistance
- Trend Meets Resistance
Ways to Enter:
Conservative: Wait for price to close below that last area of support (1901.251) then enter.
Aggressive: Have a sell limit at resistance area or sell once price reaches resistance area.
LIKE, COMMENT, and FOLLOW
*tell me what you think of the idea and tell me if you took it :)*
AUD/CHF Expecting the price move down to supportYo traders,
Simple trade idea.
Have marked the support and resistance on the daily TF. The price bounced of the support and is moving correctively towards the resistance.
On checking the FIB level on the last swing the price is now touching the 61.8% Fib level which is in confluence with the resistance.
Looking to go short on 4H tF based on price action
Please like support and comment your thoughts.
Thanks
Madtradex
USDCAD Buy and Sell set upHello everyone
Here's the latest USDCAD analysis.As you can see, this is just price action analysis and you should be patient till get right candle stick confirmation.
good luck
Gold UpdateNot much has changed, keep up with Fibonacci golden retracement zone 50% & 61%. Fundamentals playing a big part here. Anyone that rode (A) Leg on the wave did the right thing, over 500 pips there. We are reaching a strong resistance now with signs of rejection. I’ll be looking forward to another discount on gold near the golden zone again ( or lower if possible during election time in the US).
Trade responsibly.
ZECUSD Fibonacci Level 0.382 Price Level 70.36644460ZECUSD Fibonacci Level 0.382 Price Level 70.36644460
GBPUSD Buy set upHello everyone
Here's the latest GBPUSD analysis.As you can see, this is just price action analysis and you should be patient till get right candle stick confirmation.
good luck
EURUSD Sell set upHello everyone
Here's the latest EURUSD analysis.As you can see, this is just price action analysis and you should be patient till get right candle stick confirmation.
good luck
USDCAD Buy and Sell set upHello everyone
Here's the latest USDCAD analysis.As you can see, this is just price action analysis and you should be patient till get right candle stick confirmation.
good luck
EURUSD Swing ShortAfter a break below support on the daily TF, this pair has now approached this level for a test. I expect this pair to reject the level as resistance before continuation to the downside and creation a lower low on the daily TF. On the 4hr TF, the pair is forming a head and shoulder at the area where daily resistance is expected. This chart pattern presents a good entry opportunity at confluence area with target taken from daily TF.
USD/MXN Quick Analysis (Using Supply and Demand Method)The Price is now moving up to the Supply Level as you can see in the Chart. The Market has created two Equal Highs, R1 and R2. These two Equal Highs form a Fake Resistance Level also called the Fake Out Zone line (FOZ Line).
The Banks and the Big Institutions are preparing to clear the highs and the stop loss of retail traders who are in sells. A lot of traders have already joined the Buy movement.
We can see the Price Compressing up to the Supply Zone. All Supply and Demand Traders know that every gap or void must be filled.
We have a very Strong Confluence of Resistance in the 23.10 - 23.35 area. This Area has been tested only once, so we have a Fresh Supply level in this area which means a lot of Unfilled Sell Orders are still here.
This is the Real Resistance. Our Sell Area is the Red Circle in the Chart. So we will set our Pending Order and wait for price to get there..🙏🙏
Strong Confluence of Resistance (Three Types of Resistance):
Strong Verified Horizontal Resistance at 23.18 - 23.33
Pivot Point Resistance 3 (R3) at 22.97
38.2% Fibonacci Resistance Level (Daily Chart) at 23.00
BTCUSD Swing ShortAfter a break-out from 4hr rising wedge, I expect a test of structure then further continuation to the downside for the creation of a lower low on the daily chart. Entry order is set inside confluence zone with Fibonacci and market structure confluences, target is set a few pips above 127.2% fib extension of daily retracement. In case of slippage, I expect the confluences of the 78.6% fib level and descending trend line to protect S/L price.
Short on RetracementLooking to sell on the back of the broken ascending TL in confluence to our 0.618 fib retracement, previous area of S&R, respectable descending TL, and MA50 which is supporting nicely the bearish momentum.
Trade will not be valid if we close ABOVE the 0.618 fib level
CADJPY ShortAfter breaking below 4hr structure, I expect pair to re-test structure; and then I expect the pair to reject the resistance area (with Fibonacci, trend line and market structure confluences) before continuation lower to form of a daily lower low.
GOLD Clean ViewGold looks still very weak to break 1912 key level, it has to find the right liquidity needed to break thru that level. Mulitiple wicks on 1912. Trendline has been touched one more time and probablly will hold. On daily TF, not a single body candle has engulfed previous wicks. Personally expecting gold to push up through at least two previous Lower Highs and prolly form a double top before finding the right momentum to break 1912 key level and the significant trendline to look for Higher Lows to be formed on larger Time Frames.
Pullback Setup | Strong Zone of Confluence-Ascending TL breakout, retest approaching
-Respectable descending TL
-0.5-0.618 fib retracement area
-MA50 supporting momentum shift
Pullback Short Setup-Broken ascending TL, retest expected
-0.618 fib retracement
-Previous area of S&R
USDCHF Swing LongAfter breaking above resistance on the daily chart, I expect the pair to test the area before upward continuation. On the 4hr chart, this area (i.e. previous daily resistance that should act as support when the market goes for a test) has several confluences that make it a meaningful area to place a pending order. Target has been taken from the 38.2% fib on the weekly chart.
Bitcoin Swing ShortAfter completing a head and shoulder pattern on the daily time frame; and breaking below the neck line of the pattern and re-testing said neck line, I expect the pair to continue downward from the zone, after completing what I believe is a manipulation.
Target is taken from previous resistance (which should now turn support) on weekly time frame; this zone is around the 61.8% Fibonacci retracement taken on the weekly impulse; and thus forms a good confluence area for a swing target.
ETSY holding multiple supportThe are multiple technicals showing support at the current level.
1. 50sma hasn't been broken since early april. (orange trend-line)
2. has seen reversals at the lower end of the trend (blue line)
3. we are above, and holding the previous resistance from early July (red-dotted-horizontal-line)
4. Drawing a Fibonacci retracement from: All-time-high to 100sma, we are about to touch the 38.2% fibonacci retracement level.
Gold Looking Ready To SellAfter breaking the support on the 1hr chart, I expect more continuation downward after the pair re-tests confluence area of resistance.
Momentum Shift | Short on Pullback-Broken ascending TL, approaching to retest it
-Respectable descending TL
-0.618 fib retracement
-Strong zone of previous support
