Ellev8
XRPUSD Trade ideaA little late publishing this call from my own personal strategy but wanted to share the reasoning and thought behind it. We can see from the bottom AOI (4H) that price has steadily moved upward following key Fib levels as associated price action moves. What I found interesting is the level at the top that is also a Key AOI (4H) that is lined up with Phi (1.618).
For me, this is almost a 4:1 RR.
BTCUSD Price Forecast ModelUsing only the Month of March's 'Trading Range' I am "projecting" what could be future price action levels. The month of March's 'Trading Range' Upper and Lower extremes are my 'trigger points'. If associated price action drops above or below these areas, I would want to see associated price action come back and 'test' these price levels and push on the direction they were traveling before the correction. This is on the Monthly, I will post Daily levels shortly.
ETHUSD pushed to Supply ZoneJust a quick update on ETHUSD. You can see from the previous analysis that associated price action pushed all the way to the supply zone and is at a critical decision stage. If price can push through this area (red arrow) and then breakthrough and retest we can see further price levels at previous highs. If the price can't break through the demand zone below is the area that we can expect the price to fall to and even beyond that if bearish overall momentum picks back up steam.
*Note - I suggest we wait until we see what PRICE will do and not just hit the hot button. Capital preservation is key. I am not a financial advisor and I can't tell you what to do with your money, but if it were me risking my capital, I would want to be like the Remora that swim under the SHARKS and eat when they eat in the direction that they eat in. Just my two cents.
GBPJPY ExpectionLooking to use the 5 AM candle as the "inside bar" candle to look for trade ideas. The overall expectation is Bullish, but I do expect a correction so ideally, I would like to see price wick off the 152.125 price area down to the bottom of the 5 AM candle and then shoot up to the green path. If not, prepared as well to take the red path if bullish momentum is no longer dominant. Looking for TPO before any of this happens.
BTCUSD approaching strong resistance area (200 DMA)Just like with ETHUSD, BTCUSD is approaching a decision area. Will there be enough momentum to push through creating HH HL or will the market RBD? More evidence from the daily and weekly perspectives shows that the bearish momentum is stronger. Divergence is being seen between the price action chart and the oscillator.
ETHUSD from the Daily Cloud PerspectiveFrom the Daily cloud view, we can see that the associated price action is at an indecision area. The Kijun Sen is starting to point down, Cloud Span A is pointing down along with Cloud Span B and the Kumo is red as a result. Seeing divergence between the Cloud price action and the oscillator.
Going up to the weekly you can see that the market is bearish below both the Tenken Sen and Kijun Sen lines and we have a bullish flat horizontal Kumo.