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EURCAD looking up 🦐EURCAD on the 4h chart after a test of the 1.32500 area retraced at the 0.168 Fibonacci level and tested the 1.30 zone. The price is now trading below a daily resistance and some further bullish move can be expected. How can i approach this scenario? I will wait for a potential break and close above the structure and in that case, i will look for a nice long order according to the Plancton's strategy 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.
Long
by InkyGrip
GBPCAD looking up 🦐GBPCAD after. a long downtrend seems to find a short term bottom. The price tested twice the support and is now trading below a confluence between a descending trendline and a minor resistance. How can i approach this scenario? I will wait for a potential break of the resistance area and in that case i will be looking for a nice long order according to the Plancton's strategy 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.
Long
by InkyGrip
4
DOW on the final countdown 🦐DOW on the daily chart is trading below a weekly structure over a daily support. The market is waiting for today's news and some volatility can be seen. How can i approach this scenario? I will wait for a retracement to the upside and if the market will provide us a sign of inversion i will look for a short entry according to the Plancton's strategy 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.
FOREXCOM:US30
by InkyGrip
10
Bitcoin range play: upside potentialWe see on the daily chart that support at the June-July range low, 18.8k, (which is also the 2017 high) is very strong. The candle is very bullish and is accompanied by powerful volume. Further downside at this point seems much less probable than more upside. Therefore, my analysis concludes we will be continuing the range upwards now. 21.6 seems the obvious next level and a *safe* TP point. 22.3 is more of a high-conviction play and not improbable, but in these environments I think safe plays are not a bad thing. Once we get to those price-levels, which is to say: the top of the June-July range, it will be easier to evaluate whether we will be rejected again to continue the June-July range downwards, or whether we will push through to 24.4. I still believe 28k may be on the charts for a bear-market rally local top, and it would be the perfect bulltrap. But first things first. Aggressive profit taking is always recommended in these environments. Hope it helps, and enjoy your day/night!
by mapav
1
EURAUD looking up 🦐This pair after the break of the descending channel is trading below a daily resistance. The market after a series of lower low and lower high create a higher low. How can i approach this scenario? I will wait for a potential break of the resistance area and in that case i will look for a nice long order according to the Plancton's strategy 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
Long
by InkyGrip
2
17.4 and 16K are nearest targetsMorning folks, So, miracle has not happened, and phantom bullish setup that we've discussed last time has been vanished. We see now multiple fundamental reasons of downside continuation, not only Fed move for 1%. Dollar Index analysis shows that currency should reach 113 point level, households start selling stocks, which is necessary factor for collapse on stock market. US Strategical crude oil reserves equals commercial ones, which means no export any more and no ability to burn reserves to hold price rising. Inflation will keep going higher. All these moments are negative. On daily chart we have clear bearish dynamic pressure - MACD trend stands bullish while price action is not. Second important issue- price has failed to jump back inside the flag. Thus, although our long term target as 12.2K and 9K, in near term we're watching for 17.4K and 16K
COINBASE:BTCUSD
by Sive-Morten
Only for the fansMorning folks, So, CPI report stands in a row with our long-term BTC view, matching good to the 12K and 9K targets that sooner or later but will be completed. Currently overall sentiment stands negative as chances for 1% Fed move now jumped up to 38%. Besides, our Dollar Index Analysis suggests action to 113 area, which brings nothing good to the bulls here as well. Thus, any pullback we consider as short-term, and upside target is limited as well. In fact we're sceptic on taking the long position here, although theoretical setup exists. For the bears it is also nothing to do yet as they have to wait either for upside bounce to sell the rally or to downside breakout of 19.9K support area, which opens the road to the lows. For the bulls... only for the fans... Theoretically you could try to follow current setup. We have hint on H&S here, chances on success are phantom. The only relief is that risk is very small. Take a look right at the bottom we have minor H&S pattern. So, it is not needed to place stop too far and is enough to hide it just under the lows. If minor H&S fails - the whole bullish setup will fail as well.
COINBASE:BTCUSD
by Sive-Morten
GBPNZD a long opportunity 🦐GBPNZD on the 4h chart perfectly tested twice the weekly support. The market broke the descending trendline and is now trading below a 4h resistance. How can i approach this scenario? IF the price will break and retest the structure i will check a potential long order according to the Plancton's strategy 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.
Long
by InkyGrip
2
20-21K for short term long positionMorning folks, Based on recession fears and some decrease of crude oil prices, as well as anticipation of lower CPI numbers tomorrow, market falls in euphoria, suggesting deeper upside bounce. We do not see any positive change in fundamental picture and treat this action as temporal. Still, in short-term, market has formed bullish reversal swing, and potentially could form the H&S that we've talked last week. Thus, 20-21K area seems interesting for possible long position taking. Also this area is vital for the bullish scenario. Since upside action looks thrusty, we do not consider new shorts by far, waiting how this bullish performance will be finished.
COINBASE:BTCUSD
by Sive-Morten
1