Descendingtrendline
RVNUSDT 4H Long setup; Bullflag after breakout of desc trendlineTA Explained
RVNUSDT did a full pullback to the fib 0.728 level as can be seen in the below snapshot:
After breaking the descending trenline, a bullflag is being formed, about to break out. However one more dip could be expected as well, which would give the second entry for this setup.
Trade setup
Best entries: 0.14991 -0.16440
TP1: 0.19931
TP2: 0.22581
TP3: 0.26428
SL: 0.12785
RR: 3.61
Max leverage: 1x
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Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
ALPHAUSDT 4H Long setup; Pullback entry after broken resistanceTA Explained
ALPHA made a big impulsive move after which it retraced, found support but eventually dropped below it to find support lower. The decending trendline is broken and a higher high is created. Next up a higher low. After which it can continue upwards.
Trade setup
Best entries: 1.43653 - 1.66489
TP1: 2.17054
TP2: 2.79580
TP3: 3.45912
SL: 1.16355
RR: 4.85
Max leverage: 1x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
Cardano Correction or move up?in this time frame we have a great ascending channel as you see in the chart, and key levels of support and resistance .for now price follows the bearish trend line and one unsuccessful break out and a triangle pattern as well.
if the price could break out successfully and stabilize above the resistance we can see bullish movement to the top of channel 48 or 50.
but if price be unable to break above and break downside of the triangle and ascending channel the two main support could be great area for price recovery and powerful movement to the higher targets.
EUR/GBP 2 Scenarios AnalysisEUR/GBP is currently following a descending trendline and it's approaching a Resistance Zone at 0.8940-0.8955, leaving us with two possible scenarios:
Long:
-RSI is close to oversold levels, indicating a possible reversal;
-If we get a good rejection candle at the Resistance Zone, price might reverse and head to the upside, at a first instance until it touches the Descending Trendline and, if it breaks it, the next target would be the Resistance Zone at 0.9080-0.9095;
-If price consolidates around the Support Zone and makes a strong and impulsive bullish candle, a long position could be on the table aswell.
Short:
-If price consolidates around the Support Zone, look for an impulsive bearish candle to confirm a continuation to the downside.
EURCAD looking for a retracement 🦐EURCAD after hitting the dynamic descending trendline look for a retracement move.
The price hit the daily resistance at 1.55450 and couldn't break above.
After an impulse, we expect a retracement and if the market will break below the 1.55 level we can set a nice short order.
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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.
Leave a comment that is helpful or encouraging. Let's master the markets together.
Leave a comment that is helpful or encouraging. Let's master the markets together
USD/CAD potentiall Higher High?Price broke the descending trendline, bounced from daily support of 1.30437, broke daily resistance at 1.31520 and is going back to retest it, forming a nice head and shoulders patterns. My eyes are on 1.33154 weekly support to be tapped. #tradesafe #managerisk #theforexdaddy
OMGBTC is trying to break a daily resistance 🦐OMGBTC is trying to break a daily resistance after a huge imoulse.
The price bounce on 0.786 Fibonacci Level and it's inside a descending channel.
IF the price will break a daily resistance
According to Plancton's strategy, we can set a nice order
–––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow 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 Plancton0618 strategy will trigger.
GBPUSD - Short Position, R:R 1:5GBPUSD - Short Position, R:R 1:5. I am taking a short trade on GBPUSD after price has shown rejection on lower timeframes (15M & 1H) and is respecting the descending trend line. My target is the next key level at 1.21700 which gives me a great R:R of 1:5. When applying the Fibonacci Retracement tool, price is also showing rejection at the 61.8% level which gives me a strong indication that price will soon drop to the downside.
USDCAD - NEUTRAL Will we see a break of this descending trendline going into next week or will the bears take control
XRPUSD: triangle breakout, further positivity is coming?Cryptocurrency market is breaking out from descendeing trendlines (check my previous posts regarding).. global uncertainty around coronavirus might enhance further positivity.
Triangle breakout in XRPUSD (yesterday close on daily timeframe) provides signal for joining bulls with quite wide stop around 0.215 and 0.365 t/p level.. (R:R=3.3)
If entering the market at 0.265 S/L can be placed around 0.23 price level.
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ETHUSD: buy opportunityWhat's the situation on the crypto market? Well..not so long ago, we could see some big moves out from the descending trend lines in such crpytos as ETC, BCH, DASH , BSV..even BTC..which is somehow dictates the direction to the cryptocurrency market (check one of my previous posts of BTC, BCH or ETC). In one word - the market is bullish.
Techincally speaking at the moment ETH is out of the descending trendline, so I think it could provide a similar move with a good R:R opportunity for joining bulls, especially for those who are playing it without leverage or stops and invest longer term.
ETH annual yield: 0.475%
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Be careful with UNHThis descending trendline is problematic. If you bought lower, it may be time to take profits. If you don't have a position, I'd consider shorting the stock and see if you can ride it down to $212 or so.
EURGBP SHORT CONTINUATION 38% Retracement at our respected descending trendline for a short continuation
CADJPY SELL OPPORTUNITYWith USOIL showing big signs of a Seller Market Technical wise, Oil is a major part of Canada's Economy. I want to see price break its recent support and begin looking for an entry after breaking below the Major Swap Level.
EUR/JPY PRESENT - 2020 PREDICTIONPrice Action (Technical Analysis): Given that price is moving off our respected Monthly Descending Trend Line, price action is moving in a parallel channel what seems to be towards our Weekly Mid-Range Zone where price action can experience a high level of horizontal sensitivity after price breaks-out from an accumulation. If price breakouts to the upside then our targeted exit is around an exhaustion to the 61.8% of our initial bearish impulse. If price breaks out our mid-range zone bearish and pulls back to our mid-range support neckline than we can then find confirmations of entry and exit at new key level of (Weekly) support.
Fundamental Analysis: This Week 7/29-8/2 we will begin to make more sense of higher time frame expectations after the market settles through all these high volume news & reports.
7th of may gbpnzd bearish setup.GBP/NZD has reached daily resistance zone (green) and this is in line with the descending trendline from weekly resistance (purple). Also the rising wedge also indicates selling pressure.
24th of april gbpcad bullish setupgbpcad has rejected major weekly zone (purple) and descending trendline was broken meaning that price went above and beyond in moving up
