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Higherhighs

GBPAUD Daily Trend Reversal?? Price was making lower lows & lower highs, but after multiple rejections to supply zone (Blue Rectangle), we see price push back to the upside & breaking though its downtrend line. Will expect a break of 1.64 resistance level & retest to indicate if this may be a trend reversal or possible false breakout. Looks like a solid long term opportunity will watch price action heavily next week! If we see higher highs & lows form, I will be adding positions when the pullbacks on the way up are complete. :)
Long
by Profound_Ambition
2
EURUSD 4HCan we see euro bring back some bullish price action? Yesterday on the opening of the London session, euro fell hard as the US dollar gained strength. I believe a pullback (Higher Low) was made, & now we see price currently above the 50 fibonacci level. Price failing to close below showing buyers are still trying to hold zone, target would be at recent high. Keep in mind NFP Friday & rumors of Draghi considering talking down the euro soon. Lets see if we can get a strong euro during the London session opening in a couple hours.. Leave a comment I would like to hear some feedback!! :)
Long
by Profound_Ambition
5
ETHUSD Perspective And Levels: Points Away From Extension.ETHUSD Update: 390 high has been reached followed by immediate selling back to 365 as bullish momentum continues to flow in this market. The current candle is showing possible signs of a bearish wick, and I am watching this price action carefully. Momentum and trend are two separate variables when it comes to price action. It is possible to have bearish price momentum within a bullish trend and is essential for a price retrace whether it is major or minor. I don't talk about candle sticks much in my evaluations because often there isn't much to say since the price action is often obvious, but on the 4 hour chart, there is a shooting star that took price back to 365. That may just be noise, but if similar price action appears on this daily chart, then that would be a sign of an oncoming retrace. The key to observing this is waiting for the candle to close. In this broader time frame, that will be 20:00 or 8 PM EST (UTC -4). At the close, IF the long wick is present, then watch the low of the candle which at the moment is 365. If that breaks, that will indicate bearish momentum and the beginning of a retrace. The first support level I am watching for is 351 which really isn't that far. If price falls through that then 326 is the next area to watch. The wave count also shows 5 waves and this market came within 2 points of the 1.618 extension of the Wave 1 of this structure. These extensions are often completion points and the confirmation of a bearish candle near this level just adds to the argument. If no bearish candle forms, and price pushes through 392, then this market is more likely to see the 400s, which is great for people that are still long. Keep in mind, I am not bearish on this market, or trying to fight the trend and especially NOT looking to get short. I buy into weakness and sell into strength (assuming a bullish trend) and for me, highs are places to take profit and not buy. I am just waiting for an opportunity that makes sense to ME, and I am sharing my thoughts. You don't have to agree, or wait it out like me. That is up to you and your trading plan. In summary, strength continues in this market but we may be closer to a retrace as per the choppy price action from 390 to 365. The wave count and 392 target also adds to the argument. As the market pushes higher, the chance of a retrace increases and I want to stack probabilities in my favor, so I wait. Waiting is not easy, especially with all the noise and hype that is around us at all times. This is why having a trading plan and following it is more important than "catching all the moves". Comments and questions welcome.
BITFINEX:ETHUSD
by MarcPMarkets
25
Ethereum buy signal in 1 hour chart! I am long.My entry: $280 My tight stop loss: $266 (≈5% loss). Target: 1. $325 (RR ≈3.2) / 2. $340 (RR ≈4.3) / 3. $360 (RR ≈5.7) Facts: • We had a higher high at §319. • Volume increased after the weekend. • Rebounced at $272 support zone (.5 of bearish swing). • We should be in wave 5 which can bring us into the $360+ area. This is no recommendation. It´s just my personal result of my analysis. Do your own research. Comments / opinions most welcome!
Long
by r2d2One
4
Verizon Buy IdeaW1 - Double cycle completed D1 - Special Cycle (second leg of the weekly cycle) completed Higher highs on D1 and we can now expect either a flat correction and up move or double wave down and up move Aggressive - if you want to be more aggressive you can try to scalp buys near the bottom of the potential intraday range. Of course this scalp should come with lower time frame cycle inside the range, divergence and at least a trend line breakout. Always mind the risk reward.
NYSE:VZShort
by VladimirRibakov