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Harmonictraders

THIS IS WHERE YOU WANT TO BE SELLING EURUSDPair: EURUSD Timeframe: 1D , 4H Analysis: Round number level, trend line, volume profile, support and resistance, descending triangle ————— Key Takeaway: We have seen a touch of our trend line(resistance) and will most defo be in tune for more bearish momentum ————— Level needed: need a close by 0.99910 ————— Trade: Short RISK:REWARD 1:7 SL: 30 TP: 190 ————— DO NOT ENTER OUR SETUPS WITHOUT CONFIRMATION
Short
by TheGoldRoom
6
Wyckoff Redistribution - 22.8k to 18.3kWyckoff Redistribution to 22.8k First, the fundamentals: Bitcoin is currently in a clear distribution phase, as supported by volume and the fact that big players are selling and small players are buying (seen by the amount of BTC wallets holding BTC increasing, with those wallets having smaller number of BTC in them). Next: A shark pattern has emerged on the 4 hour chart, and BTC has bounced around the 1-0.886 retracement area. Usually in a circumstance like this, Take Profit would be around 50% of BC, which in this case is around the same area of 22.8k. The bounce point from C-D leg would complete the bullish harmonic pattern and can potentially signal the continuation of the downtrend. If we measure the 1.618 of OX we get 18,250. If we measure the 2.236 of a potential CD at 22.8k we get the exact same point - 18,250. Now this is more than just coincidental given the PSY level on the Redistribution schematic. Next, the 2.236 level in harmonics are usually seen in patterns like the Crab, Gartley, Shark or Partizan. This bearish leg can bounce at 1.618 (19.5k) and continue to fall straight down to 2.236 (18,250) which is likely. This is where we close our SHORT and flip LONG. Wyckoff Law mentions how we can have an extreme impulse towards BC (Buying Climax) to test the previous Preliminary Supply. Now there is a reason we are not choosing 23.5k for this (as you can see in the pattern on the right hand side, the point next to the letters "Phase A" is likely to be 23.5k. An automatic rally (AR) can occur when selling volume has diminished. There are likely going to be buyers buying at the 0.5 or 0.618 retracement of CD before last chance SHORT retesting UT/ST around 22.7k. Finally, stocks look like they are about to crash and should drag Bitcoin down with it. DXY is also rallying and showing no signs of slowing down mid term. Also, the 200MA weekly is not that important here but a good resistance level in case we somehow break 22.8k. I think not likely though.
Short
by reiiss7
4
NEAR - Mixing Harmonic Patterns with WyckoffMixing Harmonic Patterns with Wyckoff Law (and also confirming with Elliot Wave where applicable) can be one of the most effective ways to trade. The AB=CD pattern comes within many Harmonic patterns such as the Shark, Crab or Bat. You can scalp movements like this within confirmed (or very possible) harmonic patterns that all point to a singular number. You can also trade smaller harmonics within bigger harmonics, as long as you map out the bigger harmonic first, so you have an idea where the market is heading mid-long term. In the example above, we use altcoin NEAR Protocol. We first check the 4 hour to find bigger harmonics, and then switch down to the 1 hour or 15 mins and trade those timeframes, depending on what we prefer. Currently, NEAR on the 1 hour timeframe is pointing towards 4.72 via the 1.618 and the 2/2.14 fibs. It makes sense that price would top here, because of the "Preliminary Supply / PSY" Section as seen in Wyckoff Redistribution Schematic #4 (For more info on this, please check my "Link to Related Ideas" below, where I describe this in more detail on a Bitcoin chart. You could also use Elliot Wave analysis here to map out the 5 waves upwards towards 4.72. Perhaps the final 5th wave points to a 1.272 or 1.618 expansion?
Short
by reiiss7
CADCHF REVERSAL INBOUND?Pair: CADCHF Timeframe: 1D , 4H Analysis: Round number level, trend line, volume profile, support and resistance, trend channel break ————— Key Takeaway: Price flew through the top of our trend channel indicating a change in direction, we have seen a sharp reaction to our support level and price is jumping up very quickly so is a perfect time for a long entry, we will be riding this to the next significant high ————— Level needed: need a close by 0.74145 ————— Trade: Long RISK:REWARD 1:6 SL: 25 TP: 150 ————— DO NOT ENTER OUR SETUPS WITHOUT CONFIRMATION
Long
by TheGoldRoom
NZDUSD CONTINUATION SETUPPair: NZDUSD Timeframe: 1D , 4H Analysis: Round number level, trend line, volume profile, support and resistance, Fibonacci retracement ————— Key Takeaway: Seen price break trend line and test support, we have also seen a bounce off 0.5 on the fib retracement level. As USD strength is still all there we will be shorting this pair as we are starting to see signs of a continuation of bearish movement ————— Level needed: need a close by 0.61945 ————— Trade: Short RISK:REWARD 1:7 SL: 15 TP: 100 ————— DO NOT ENTER OUR SETUPS WITHOUT CONFIRMATION
Short
by TheGoldRoom
EURAUD ARE WE GOING TO BREAK THIS DOUBLE BOTTOM?Pair: EURAUD Timeframe: 1D , 4H Analysis: Round number level, trend line, volume profile, support and resistance,descending triangle pattern ————— Key Takeaway: Loads of weakness for EUR and wee can see price consolidating at this area meaning the bulls are struggling to take things up from here, if we see a drastic drop and push through this level we will be looking for short entry ————— Level needed: need a close by 1.43375 ————— Trade: Short RISK:REWARD — SL: — TP: — ————— DO NOT ENTER OUR SETUPS WITHOUT CONFIRMATION
Short
by TheGoldRoom
2
AUDNZD DOUBLE TOP Pair: AUDNZD Timeframe: 1D , 4H Analysis: Round number level, trend line, volume profile, support and resistance ————— Key Takeaway: Seen alot of resistance against trend line and a double top form on the 1H chart, once we see a good amount of bearish momentum we will be looking for short entry ————— Level needed: need a close by 1.11460 ————— Trade: Short RISK:REWARD 1:13 SL: 10 TP: 130 ————— DO NOT ENTER OUR SETUPS WITHOUT CONFIRMATION
Short
by TheGoldRoom
1
CADCHF BREAKOUT OR BOUNCE?Pair: CADCHF Timeframe: 1D , 4H Analysis: Round number level, trend line, volume profile, support and resistance, trend channel, ascending triangle pattern ————— Key Takeaway: Seen alot of strength within the past few hours and CHF is significantly week and we can see this amongst all other pairs. If we break through the top of the channel we will need to see a re-test and the same amount of volatility, if we bounce we will wait for price to break support and round number ————— Level needed: need a close by 0.74290(bullish) or 0.72985(bearish) ————— Trade: Neutral RISK:REWARD — SL: — TP: — ————— DO NOT ENTER OUR SETUPS WITHOUT CONFIRMATION
by TheGoldRoom
GBPUSD KEY LEVEL BOUNCE OR BREAK?Pair: GBPUSD Timeframe: 1W, 4H Analysis: Round number level, trend line, volume profile, support and resistance ————— Key Takeaway: Just hit very significant and long term support and trend line with a double bottom on 4H, GBP is significantly week right now so we are looking for either a break or bounce ————— Level needed: need a close by 1.18050(bullish) or 1.17690(bearish) ————— Trade: Neutral RISK:REWARD — SL: — TP: — ————— DO NOT ENTER OUR SETUPS WITHOUT CONFIRMATION
by TheGoldRoom
2
CADCHF PENNANT BREAK CONTINUATION?Pair: CADCHF Timeframe: 1H, 4H, 1D Analysis: Round number level, trend line, volume profile, support and resistance, pennant pattern, trend channel ————— Key Takeaway: Stuck very well to downward trend channel so we are looking to sell when price breaks pennant and high volume level ————— Level needed: need a close by 0.73730 ————— Trade: Short RISK:REWARD 1:5 SL: 15 TP: 80 ————— DO NOT ENTER OUR SETUPS WITHOUT CONFIRMATION
Short
by TheGoldRoom
2