Pretty good long opportunity for USDCHFIt seems like we can have a good long trade opportunity for USDCHF.
On the 1h chart, we have a pretty strong support on the Fibonacci S3 level.
RSI is a bit oversold and we have a nice crossover on MACD.
Disclaimer
Please remember that past performance may not be indicative of future results.
Due to various factors, including changing market conditions, the strategy may no longer perform as good as in historical backtesting.
This post and/or the script don’t provide any financial advice.
Fib
GBPCHFHere we have GBPCHF!
Below 800MA
Hitting the killer retracement
Trendline 60min and 240min TF still intact
Zones in play!
I move down tot he 15min or 30min TF to get entry's for smaller SL
You will see 2 positions thats because their is 2 trendlines
1. 60mins with zone in the fib killer zone!
2. 240min with trendline and just hitting the upside of the fib killer zone!
15 MINUTE FIBONACCI RETRACEMENT SETUP SHORT TERM MOVES Don't expect bulls to just give up so easily.
Expect a push higher at the MINIMUM if you're bearish bias this weekend.
Things can always change/reverse before a blink of an eye.
Stay up to date with the fundamentals/price action and the structural integrity needed to achieve the levels you're looking to play out.
Have an awesome weekend guy, stay safe...Cheers.
GBPUSD (short) Trade Analysis
- Rejection 1H descending trend line
- Broken 1H ascending trend line
- Rejection of 1H resistance
- Outer 0.618 Fib
- Inner 0.50 Fib
Reason For Stop-loss:
- Above 1H resistance
- Above 1H descending trend line
Reason For Target:
- 4H lows
Trade Management:
- Sell limit
ZIL and his next movingWe are now testing werry strong yellow support on price 0,18$ to 0,195$. From this support we will get more the answers where we can going.
I think, that we going to 0,22$ and come next correction to yellow support and at the same time confirmation of the red line. When this support and first red line will be confrim, It will be new trend of ZIL for long term. If this trend will be broken, then next red line is possible trend. I search 2 point about 11. may, and this points not have next confirm. This low red line and next lower yellow support is bearish target for middle term, who is possible when BTC will going down.
We see nice 123 formation, and when I see chart trom this perspective, then ZIL can going on 0,22$ support who will be rejected, next will be confirm red line in yellow support and next will be attack on the higgest yellow line. When it will be broken, we can see slideway about price of first yellow support.
The 10 Year QE Bubble - "To Infinity, and Beyond!"A simple look at more recent boom and bust periods of the S&P500
Thinking Out Loud
Is the QE Bubble bursting before our eyes?
Will we see an all time high before a huge collapse and more Stimulus/QE?
Opinion
Outlook seems bearish for the long-term.
These market levels are not sustainable, and inorganic, we are in the last phase of the QE bubble before it goes pop.
COVID19 Wave 2 seems guaranteed at this point... Economic recovery is not going to be a V...
Positioning
I'm continuing to add on more shorts at these levels and above, long-term, mostly through inverse ETFs.
I will continue trading the market pops and drops, while adding on to my long-term shorts.
*Fundamentals seem forgotten, but at the end of the day, they ALWAYS rule the markets... this Market is in Mania.
Fib fan line usage: Breakouts and median linesOrange lines are medians and tend to identify the trend. In longer time-frames, the price will criss-cross many times, helping to identify when the trend is over/under sold. Because of this, purple-line breakouts that happen on the close side of the orange line are evaluated as being stronger.
JXY (Yen Index) On the Yen Index we are seeing some play off the 50%. there are no Harmonic Patterns currently on the Index but off the Fibo. so for the monday trap move we can have a move up to the 50 and then reverse. The Commercials have increased their longs by 10,000 orders. Now, an interesting thing on the Non-Coms side of things is that the Shorts marginally increased thier side while the Longs probably took profit or recorded their loses. they decreased their position (13,096) which leaves room for downward momentum with ease. So again there is not much room for PA to touch the 50% retrace then I do see price moving down quite rapidly!
on to the Net Data
Commercials-
Current = (13,302) // previous (28,488)
Non-Coms-
Current- 17,462 // previous- 32,579
from the net positions it looks like the sides are stepping closer to the Zero Line
USDZAR breaking a resistance 🦐The market shifted since the 20th of may to a bearish eviorment.
Now it just retrace back to the 0.382 fib level of the upper move and found a resistance structure.
IF the market will manage to break and restest the resistance area we can look for a short position with a nice risk reward with a target around the 0.5 fib retracement.
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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 SELLAlthough a confusing chart, a lot is going on. The yellow highlighted leg is in a current uptrend. It is approaching a Supply Zone formed by a Pin Bar. That same Supply Zone is on the 0.618 retracement of the red leg.
Within the uptrend, coming close to current market a Bullish Penant is formed. So we can expect some more price shooting up a bit before hitting entry, although there is a possibility that it may go into the red for a while.
Take profit is placed near a Demand Zone on the Daily Chart. Also a retracement of 0.618 of the yellow leg.