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BTCUSDT - Price Analysis Week Ending 28 May 2023BTCUSDT - Price Analysis Week Ending 28 May 2023 Trading flat channel 26,300 low to 27,400. Nice breakout from middle of the channel, both flat and descending. Resistance levels - Massive daily (3d time frame) at 27,230 and nPoc at 27,300 as well as 0.618 resistance. - Weekly 27,572 - Point of control of visible range at 28k Support levels - Local support at time of writing, the vWAP at 27,080, looking at back test - Daily (3d time frame) at 26,800 and slightly below a weekly at 26,600 Trading levels Upside - Looking at back testing vWAP and a nPoc at approx 27,133 to break support and take out previous highs - Probable price move up breaking resistance could see a rejection at point of control to back test top of current flat channel Downside - Failing this look at support back down towards the middle of the channel - If price breaks down further then retesting lower of the range with support of previous higher lows Macro mini analysis for week ahead - Bullish if the bulls can finish this week of above 27,600. Looking at retesting all previous highs, in mind a possible and very probable 5th Eliiott Wave - Failing this could result in testing lower 0.618 at 25,400. with a macro range between 25,400 and 27,500. Price action very choppy hence the line chart.
by hmaroudas
BOIL LONG a 3x leverage Natural Gas ETF Natural Gas prices have finally reversed on the FOREX markets after significant downtrends from a historical high. BOIL on the hourly chart has reversed a two-week downtrend and today has an increasing volume. Ir bounced off the lower Fibonacci levels and is looking to revert to the mean. Price was undervalued below the green fair value zone at the VWAP +/- one standard deviation but is now heading back into it from the buying pressure. As a 3x leveraged ETF is prone to more volatility than the unleveraged UNG counterpart. I will play this with a call option contract expiring 3/31 striking $4.00 and expecting at least a 50% return in the upcoming 8 trading days. The risk here is that this is just a short pullback on the downtrend but getting in early on a long and watching carefully is the approach I have taken.
AMEX:BOILLong
by AwesomeAvani
46
Taking another entry on GOLDYou can see from my first idea that we're trading XAUUSD. I made my first entry at 2001 & currently in a lot of profit. My initial entry I placed a 10 lot & this entry is much less via a 3 lot, just to protect my profits I foreseen that around this area would've been a good entry & so far it's looking promising. Usually I wouldn't advise trading outside of session (I usually only trade gold in London or NY but sometimes GOLD has good volume in Asia). With all the signs of price action & using this fib, I have good confidence in my second entry. I will take this trade all the down to my 1970 & then down to my extension at 1955. Please always take partials & place your stop loss in profit after doing so. You can follow me on this journey of finally sharing my knowledge & wisdom of trading.. You guys will see a lot more, currently curating a free group & course. Stay posted!!
EIGHTCAP:XAUUSDShort
by YDILLC
SWEPT GOLDEN POCKET, BULL DIV ON 4H, BREAKOUT TOWARD 32K I am long on this sweep that formed a 4H bull div, and pixel tapped the golden pocket. Would like to shave a bit of profit at my $30.5k level, reload some more on one of the higher lows, then hold the position to $32k and possibly reduce, then add again on a higher low before we rip above $32k. If my strategy here fails the next level I will be watching to go long is the HKEX:28 ,750 level and the HKEX:28 ,250 level. One thing for certain, is once we're trending to break that $32k level, I really want to be long as it looks like all air until $37k.
Long
by taztrader
BUY OPPORTUNITY ON GBPJPYif you're interested in this trade; wait for an indication of rejection on the golden levels of the fib. if it rejected the 50 with bullish wick candle. place your SL on the 61 level or right below. If drops down to the 61 then rejects with a like bullish wick candle. we can place the SL 20 pips below the 61 level. once you're in be patient & take that buy up to 169 area. we can expect to get an entry around London & take it all the way up. follow me for more trades. i will be posting more. & also check out my previous ideas for accuracy
Long
by YDILLC
BTC | AIM 32K! So, imagine you're a sniper, carefully eyeing your target through your scope. Suddenly, you notice something strange - the movements of your target seem to be following a pattern! You take a closer look and realize it's the Fibonacci sequence! As any savvy sniper knows, Fibonacci retracements can be a handy tool in trading. So you whip out your Fibonacci tool (which, for the record, looks a lot like a ruler with some fancy numbers on it), and start drawing your lines. You carefully calculate your entry and exit points, making sure to account for all the Fibonacci levels. And then, just as you're about to pull the trigger (on your trade, of course), your target moves - just like the sequence predicted! You adjust your aim slightly, recalculating your Fibonacci levels on the fly. And then, with a steady hand and a calm mind, you take the shot. The market reacts with a satisfying ka-ching, and you walk away with a tidy profit. As you pack up your gear and head off into the sunset, you can't help but think: "Sniping is all about precision and timing - just like trading with Fibonacci retracements!
Long
by xuk1
5
Fibonacci Trick for measuring Risk to Reward RatioIf you don't use your fibb tool much, (save your settings as a template first if you do) or for just a quick check to see if there is enough reward for the risk in the trade, you can set up your Fibonacci in increments of 1 (2.5 is 1:1.5) Do this as far as you like. You can extend lines left or right to check if the R Ratio you are looking for will fit this market structure, or if you should wait for a better set up. I happen to see this in a YouTube video, and thought it was very interesting and more than useful... The settings are as follows : 0 - loss/stop loss price 1 - 1 unit of risk (100 percent) 2 - 1 unit of risk plus 1 unit of reward (1:1) 2.5 - 1 unit of risk, 1.5 unit reward (1:1.5) 3 - 1 unit of risk, 2 unit reward (1:2) ..... and so on. Then just save it as a template for quick set up later -- Example of use 6 (600 percent) is 1:5. Just subtract 1 for the risk and the remaining is the reward ratio. Each 100 percent mark is a single unit of risk (-1) In MT4 its much better to see it directly, as you can label the levels how you wish (using the same formula)
Education
by ForexStoryteller
1
NVIDIA | NVDA | STOCK | DECRYPTERS Hi people Welcome to Team Decrypters Decent Short opportunity on NVIDA STOCK --Head & Shoulder Pattern Break out and Target completed . --Price is Supported by All Major EMAS. --A down ward channel Break Down And GAP filled. --After a Strong upward movement Price should reject from Multi year Trend line. --A Potential Retracement Short should ATLEAST play From Resistance levels. -Price is overall Supported by All MAJOR EMAS. --Potential Double Top formation. Note :- Nasdaq Should Retrace so will the stock , A Setup Should be traded with Confirmation Only
NASDAQ:NVDAShort
by DECRYPTERS