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EURGBP4hr Timeframe: Reading price we can see EURGBP is still creating higher lows. Although we can see strong shifts in momentum to the downside. A price approached .90000 key psychological support price could not break and close below for the 3rd or 4th time. Notice price created a double bottom and had a reaction. Price broke our first counter trend line and is hovering around our second trend line. If price holds above our blue support zone, we can anticipate further movement to the upside. However, if we fail to hold, we can anticipate shorts down to .90000 key psych. Due to the uncertainty of market fluidity, risk management is highly recommended.
Long
by ChartAddicts
AUDJPY: Bulls Breaking Levels!Daily Timeframe: Reading the daily chart above we can see that price is creating new highs and lows and closing bullish. With this type of momentum, we want to be trading in line with the market! 4hr Timeframe: Scaling down we can see price is on an uptrend and testing strong areas of support in confluence with the trend line. If price holds above this zone, we can see price push up to 78.750 key psychological. Until price violates this trend line, we will be looking for longs. Due to the uncertainty of market of fluidity, risk management is highly recommended.
Long
by ChartAddicts
EURGBP: No Bears Insight!4hr Time Frame: Reading price we can see we have been bullish. Reading the candles, we can see the price has cleared above resistance is creating new support with long wicks pointing to the downside. 1hr Time Frame: Scaling down we can see price creating a double bottom with bullish pinbar rejection candles at 4hr support. If price manages to hold above, we can see new potential swing highs. Look to buy this up to .93000 key psychological resistance. However, if price violates 4hr support look to reevaluate price action. Due to the uncertainty of market fluidity, risk management is highly recommended
Long
by ChartAddicts
1
AUDJPY: Longs to 78.000!4hr Time Frame: Reading price we can see that AUDJPY is on an uptrend. With that being said we should be looking for long term buying opportunities at support. Right now, price is testing a 4hr support zone in confluence with an inverted head and shoulder formation. Notice how price closed off a bullish pinbar rejection candle. 1hr Time Frame: Scaling down to we can see price creating a double bottom formation at our 4hr support zone. If price manages to test that zone again and hold above, look for long opportunities to 78.000 key psychological resistance. However, if price breaks, we will reevaluate. Due to the uncertainty of market fluidity, risk management is highly recommended.
Long
by ChartAddicts
EURGBP: Anticipate .91500!Daily Time Frame: Reading price we can see that we broke the range (between .88750-.90500) and has tapped previous daily swings at .88500 key psychological support and immediately rejected back above .88750 quarterly psych. If price manages to pullback and test .88750 support look for longs to .90500 and .91500. However, if price does not break .90500 look to reevaluate price action. Due to the uncertainty of market fluidity risk management is highly recommended.
Long
by ChartAddicts
AUDJPY: Longs then Shorts!4hr Time Frame: Reading our price chart above we can see that AUDJPY is forming a head and shoulders formation as it is now testing the neckline at 75.750 key quarterly psychological support with a double bottom formation. Looking to the past we can see that this zone has been respected multiple times. If price manages to hold above, then look to buy this back to 76.250 key quarterly psychological resistance. Once price gets to the right shoulder also 61.8 fib zone, look for shorts down to 75.750 and 75.000. However, if price violates 75.750 look for shorts down to 75.000 key support. Due to the uncertainty of market fluidity, risk management is highly recommended.
by ChartAddicts
EURGBP: Longs to .91500!Daily Time Frame: Starting on the daily we can see price has been creating higher lows and is currently testing the trend line for the third time at an area of daily support and resistance. By reading the candles we can see that price is showing signs of rejection, simply by reading the wicks! 4hr Time Frame: Scaling down to the 4hr we can see that price is creating a beautiful double bottom formation at a key psychological zone .90000 support. After the second bounce we can see price has created a impulse flag formation (easier to see on the 1hr). If price manages to hold above .90000, we can see longs to .91500 key resistance. However, if price manages to break below .90000, we must reevaluate price action. Due to the uncertainty of market fluidity, risk management is highly recommended.
Long
by ChartAddicts
AUDJPY Short Term Longs?4hr Time Frame: Reading price action we can see that price has cleared above areas of resistance and is now testing as newfound support with signs of rejection. Price is forming higher highs and lows simply by looking at structure and it is also creating a double bottom formation in confluence with reversal candlesticks. If price manages to hold above this zone 75.750 quarterly psych level, then anticipate longs to 76.750. However, if price violate this support zone then anticipate shorts back down to 75.000. Due to the uncertainty of market fluidity, risk management is highly recommended.
Long
by ChartAddicts
EURGBP: Can it Break .91000?Daily Time Frame: Price is testing areas of resistance with signs of wick rejection at .91000 key psychological zone. Price has reacted from this zone in the past so it will be interesting to see how it plays out this time. Right now, we have a bounce or break situation. If sellers are more enticed to push this down, then we can anticipate shorts down to .89500 support and if it breaks that to .88500. However, if buyers are more enticed to push price higher then, we can anticipate longs to .93000. Due to the uncertainty of market fluidity, risk management is highly recommended.
by ChartAddicts
AUDJPY: Longs to 76.500!Daily Time Frame: Starting on the higher time frames we can see that price broke above 75.000 (gray mid zone) then took off to test previous swing highs, 76.500 psychological resistance. After price tested this zone it immediately pulled back to test 75.000 as newfound support. 4hr Time Frame: Scaling down we can see that price had a bullish reaction at 75.000. Analyzing price, we can see we are testing a potential trendline for the third time in confluence with the 61.8 fibonacci. If price manages to hold above this zone look for looks to 76.500 key resistance. However, if price manages to violate 75.000 and the trend, we must reevaluate price action. Due to the uncertainty of market fluidity, risk management is highly recommended.
Long
by ChartAddicts
EURGBP: Rejecting .91500!Daily Time Frame: Starting on the higher time frames we can see price is creating a double top formation at .91500 key weekly zone with signs of wick rejection. 4hr Time Frame: Scaling down we can see that price is testing 4hr support. If price manages to hold below .91500 look for shorts down to .88500. However, if price manages to break and close above, we can potentially see longs to .93000 key resistance. Due to the uncertainty of market fluidity, risk management is highly recommended.
by ChartAddicts
EURUSD: Can it Break 1.14500?Daily Time Frame: Starting on the higher time frame we can see price is testing 1.14500 key monthly psychological zone with signs of rejection in the past. 4hr Time Frame: Scaling down we can see price is reacting to this strong resistance zone. If price manages to close below and hold look for potential shorts to 1.11700 weekly support. however, if price manages to break and close above then we must reevaluate price action. Due to the uncertainty of market fluidity, risk management is highly recommended.
Short
by ChartAddicts
AUDJPY: Testing 75.000!Daily Time Frame: Starting on the higher time frames we can see signs of rejection at this area of daily resistance right around 75.000 key psychological zone. 4hr Time Frame: Scaling down we can see price creating multiple tops. If price manages to hold below this daily resistance, then look to sell this down to 74.250 and potentially 72.500. However, if price breaks above this zone look for a break and retest with signs of rejection in order to buy this up to 76.500. Due to the uncertainty of market fluidity, risk management is highly recommended.
Short
by ChartAddicts
2
USDCHF: Longs to .98000?Daily Time Frame: Starting on the higher time frames we can see that price is testing .96000 key psychological support for the second time, creating a double bottom formation. Now that price is testing this area we have to wait for a break or bounce situation in confluence with reversal signals. 4Hr Time Frame: Scaling down we can gain a more refined perspective of price. On the 4Hr it looks like price is ranging between .96000-.98000 key psychological zones. If price manages to hold above .96000 key support than we can look to buy this back up to .98000. However, if price violates this zone and closes below, look for potential shorts down to .95000 key zone. Due to the uncertainty of market fluidity, risk management is highly. recommended.
Long
by ChartAddicts
NZDCHF: Testing Previous Swing Highs!4Hr Time Frame: Price is back at strong areas of resistance. By reading price action we can see that price tested this area in the past, showed signs of rejection and had a reaction to the downside. Reading structure price looks as if its ranging in between our support and resistance zones above (gray boxes). If price manages to hold below this strong area of .58500 key psychological resistance, then we can look to sell this pair down to .58100 (first target). However, if price shows signs of bullish strength and manages to break through this resistance zone then we can potentially see .59500. Due to uncertainty of market fluidity, risk management is highly recommended.
Short
by ChartAddicts
XMRBTC Triple Bottom| Down Trend Broken| Support ConfluenceEvening Traders, Today’s Analysis will focus on XMRBTC which has broken a long term down trend, currently trading in a zone between support and resistance. Points to consider, - Daily trend change ( Triple bottom) - Local support confluences - Structural resistance respected - RSI testing support - Stochastics in upper regions - Declining volume nodes XMR has put in a probable triple bottom after breaking a strong lower high structure; the bottoming formation will ONLY be confirmed with consecutive higher lows above structural resistance. The structural resistance has been respected multiple times; XMR is likely to trade within the range between support and resistance. Local support has viable confluences indicating a true trade location. The .386 Fibonacci needs to hold true to establish a higher low on the daily. Local support and the 21 EMA being in confluence put a strong emphasis on the level being a strong support zone. The RSI is testing support, currently quite neutral whilst the stochastics trades in the upper regions. It can stay trading here for a while, however does have stored momentum to the downside. The volume nodes are below average; this again indicates that XMR is likely to trade within the support and resistance region before an impulsive move. Overall, in my opinion, XMR needs to break structural resistance in order to establish consecutive higher lows. This will confirm the daily trend change and the bottoming formation. Currently is may stay trading within this range for a while as volume continues to decline. What are your thoughts? Please leave a like and comment, And remember, “The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages.” – Jesse Livermore
X
by AzizKhanZamani
3