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Convergence

GBPJPY - Potential buy trade opportunity using price actionTaking a look at the Daily chart on GBPJPY we have seen a potential level that could generate a bullish trading opportunity. As you can see from chart, we have what looks like a possible stronger level of horizontal support around the 135.74 mark. This level has seen multiple registered hits on the line both using this level as previous support and resistance in the past. The more hits a trend line receives the stronger it can potentially become. What can help to increase the probability of this level is that it also lines up with the 38.2% Fibonacci retracement. As with all levels we expose as possible trading opportunities we still need to be patient and see what price does once it gets there. If price does fall to this level of convergence then we want to go down to our lower time frames and see if we first get a bounce off this price zone and then we want to look for any additional confirmation in the form of a smaller bullish price pattern or structure that could get created. If price drives straight through this level then no action is needed to be taken.
Long
by DavidVillagra
7
EURUSD Convergence sell for a higher probability trade set up EURUSD overnight set the stage for a high probability sell on the higher time frames. Although EURUSD has been in a uptrend of late we had a few factors that led us to believe we could see EURUSD move lower. These factors include the following. 1. We were looking at the 1.2000 big figure level for a while as this level in general could be a strong psychological level for price to respect. Also we can feel that there would be a higher buildup of order flow resting at this level which again could increase the probability for price to reject here lower. 2. What really caught our attention was the larger bearish 3 drive pattern that can be seen even on a Daily chart. The more participants in the market that can see the same structure the more the probability can increase for traders to take action when the pattern completes, especially the case when the pattern is seen on your higher time frames. 3. Convergence of factors - In trading, no one knows with 100% certainty where price will go next so as traders we have a responsibility to do our best analysis as possible to increase a potential profitable outcome. In this case both of the 2 factors above occurred at around the same point on the chart so when we saw price start to reject lower this opened the door for a sell. After the pattern completed, we always want to use a lower trend line (in the case for a sell, higher trend line in the case of a buy opportunity) and wait for this to break to the downside as this will help increase the strength of the pattern holding and also give you a precise point on your chart to execute an order. Stop loss can go just above the 3rd drive high.
by DavidVillagra
4
Trading with convergence to increase your probabilityTaking a look at the price action on EURJPY currently, we have seen a potential selling opportunity setup. Why we like this setup is because it holds a few factors that all converge together. As traders the higher the amount of information we have to help make an informed decision the better. As you can see from the 15 Minute chart, we firstly have price move quite rapidly higher until it starts to run out of steam and show signs of price exhaustion, we can also see this through the creation of a bearish 3 drive pattern at the highs. This pattern is a good indicator for potential reversal when used in the right context. What increases the probability on this particular setup is that this exhaustion also occurs at the 126.00 big figure as this level could also hold larger pockets of order flow and help price to reject lower. As traders we don't know exactly how far price can move but what we can do is locate areas or levels on a chart that could cause a possible bounce or rejection in our favor. It's in these moves that we can look to potentially manage a trade profitably in the process.
Education
by DavidVillagra
Hidden convergence is formingWe have a big rectangle channel and range here, but as you can see we have hidden convergence in rsi, cmf gonna show us the SL and up trend is coming. In my idea up trend should start after touche 41 and if btc break the 618 of fib(45) we can see a touch on 1(47). Keep your eyes open, if it lost to confirm 41 as bottom it means down trend is activated ... If you liked it, please hit the like button, share and write your comments and follow me, thanks for reading. Take care, trade safe
COINBASE:LTCUSD
by AminHa4
2
All signals say long on Fortive CorpThe price of Fortive Corp has recently crossed over the historical support/resistance at 62.81 and the MACD looks optimistic, has just crossed over the 9 EMA, and shows convergence. I expect the 50 SMA to cross over the 100 SMA very soon and the RSI looks still ok. VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas. Please, maintain proper position sizing and risk management!
NYSE:FTVLong
by vf_investment
Hidden convergence ...LTC were in a descending channel for a long time! I think this is the time to break it, to being in a stable rectangle channel for a while. As you can see rsi and price are forming a hidden divergence here, price is almost touching the wedge, and macd looks strong after all. I recommend you to do long, if you see a candle above the line. If it failed to break the resistance, it will go down to touch the bottom. In up trend first resistance and confirmation to long is 0.618 of extension(0.19172), and in down trend first support would be 618 of extension(0.18877) If you liked it, please hit the like button, share and write your comments and follow me, thanks for reading. Take care, trade safe
by AminHa4
Bonanza Creek Energy continuing its uptrendHello Traders! After recovering from the shock in March, there is no reason for the price of Bonanza Creek Energy to not revert to its normal range. It broke through all the moving averages and the support/resistance at 16.43 without problems and the MACD looks very optimistic as well. It's already impossible for the next high of the MACD to be lower than the previous one, which indicates convergence with the price and trend continuation. On the other hand, I don't see a reason for the market sentiment to be optimistic enough for the bulls to break through the historical resistance of 26.11. The RSI seems a bit out of place, I attribute its oversold indication to the current rally within the price corridor, so no reason to worry! VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas. Please, maintain proper position sizing and risk management!
BLong
by vf_investment
Big trend is processing ...Ma's acting like dynamic support at 9300 and 9200, rsi shows divergence, macd doesn't have enough power, we didn't see volume in a few days and also double bottom ... I had a cup and handle in my last charts ... it rejected, I had convergence and it rejected ... this time I will look in other way ! I can say that 100% we will see a big trend ... but which way ... I was long and short in these days ! but both sides are rejected ! this is really interesting! If you see lower time frames such as 30 You can see divergence is really clear ... Well maybe im wrong ... but I in short this time ... Are you asking me about the cause ? check the preview idea I published for daily ! We couldn't even touch the 9950 resistance, longs looking really weak for me ... So in a few hours ... we will see a big trend ... I hope im right ... If you liked it, please hit the like button, share and write your comments, thanks for reading. Take care, trade safe
BITMEX:BTCUSD.P
by AminHa4
10
Take a deep breath, We are doing wellAlright, dont hurry now, we are in distribution phane now, so dont fomo, wait a few hours and choose your side carefully, if you lost a trade, its ok, market is here you will do that another day. Anyway, as you can see we had a beautiful mark up here its about 8800 to 9600 ! almost 1k push up :) First of all we are in a range for a while market needs to rest, second it was a big one again and it needs a correction(about 30% of it), I changed my rectangle channel 9200 ~ 9600 its a 400 pip channel These targets are really strong magnets here, so read this post carefully. We had cross over on ma's, rsi was in convergence mode and also macd was really strong, and volume told us a big trend is coming and it happened last night. Current place is one of the most dangerous places in last month and as you can see we are on the top ! and we touched 9600 ! the pressure of this resistance could push us down, but how much? how much are we gonna go down ? in my idea this is not gonna more than 300 pip ! So I recommend you to be ready for another long, set your start on 9250 to 9600 and 9800 I have to say short is possible too, so keep your eyes open and if you see a candle below 9150, it will go down to 8800. Im in long and I dont want to enter trade now, its in range and trade in distribution mode just makes you nervous about your position and it will make you crazy by FOMO ! I will publish another idea for 4h chart soon ... watch it and feel free to leave your comments for me. If you liked it, please hit the like button, share and write your comments, thanks for reading. Take care, trade safe
BITMEX:BTCUSD.PLong
by AminHa4
2
Guys don't fomo ! stay right there and think !Ok guys dont FOMO ! wait an hour at least. As you saw in my last idea I said that we have an uptrend in our way. Check it and you will find out what im talking about. Ok now we saw a touch and a pump to 9200, as I expected btc rejected, but the good thing here is we broke the triangle and also we had a touch on 9200. So there is some ideas here about this situation. 1: btc will break 9200 resistance and next target will be 9700 2: after rejection, it will go down to 8700 3: it will create another channel 9k ~ 9500 (I told that before while we were in 9400, this price will be our resistance soon) it was about a week ago 4: we will go down to 8500 because of rejection on 9200 and indicators In my view idea 1 and 3 are possible, because we have support of ma's and also convergence of rsi and macd Between these two I really like 1 ... but im not the one who is the manager of bitcoin you know :D So I recommend you to watch market and do not fomo and also do not enter a trade until you see a confirmation above 9200 or below 9k If you liked it, please hit the like button, share and write your comments, thanks for reading. Take care, trade safe
BITMEX:BTCUSD.P
by AminHa4
4
Big trend is comming ...Guys this is really interesting! I though we almost have another short until I saw this triangles, convergence and supports! Volume is almost about 0 ! and as you can see we have a big symmetrical triangle here! we have support of 50 and 20 ma now, ma 120 shows 9k ! and 200 shows 9200 ! Rsi and macd are in convergence and they are showing the way ! We have a support line at the bottom, we are almost at the end of the symmetrical, and also we have cross overs ahead ... So its time to choose what do you look for ... In my idea, we are going to see 9k and 9200 If btc break 9200 we will touch 9400 again ... If we stay on the ma 200, we will 10k again ... If you liked it, please hit the like button, share and write your comments, thanks for reading. Take care, trade safe
BITMEX:BTCUSD.PLong
by AminHa4
6