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Highsandlows

Descending Triangle, Hidden Pennant GUGBP/USD has been falling since July 14th and now is looking like its trapped within what looks to be a Descending Triangle or Pennant considering the current Low is higher in the Support zone then the Previous. The Descending Triangle made of Lower Highs into the Support Zone should typically give us a Bearish Break where price continues LOWER! -What makes this a special case to me is the possible presence of a Pennant! The Pennant is made up of Lower Highs into Higher Lows, consolidating into a "Pinch Point" where eventually price will break Bullish OR Bearish. -Typically the break will happen in the direction price was heading prior to entering the pattern BUT there is potential for price to play within the Pinch Point until giving a Proper Break!! **Patterns are known to fail 1/3 of the time SO BEWARE OF FALSE BREAKS!!! -Fundamentally, USD & GBP have: Employment Cost & Consumer Confidence (USD) - Tuesday ADP Non-Farm Employment, JOLT Job Openings, Federal Funds Rate & FOMC Statement and Conference (USD) - Wednesday Monetary Policy Statement, Official Bank Rate Votes, Bailey Speaking (GBP) and Unemployment Claims (USD) - Thursday Average Hourly Earnings, Non-Farm Employment Change & Unemployment Rate (USD) -Friday **With the heavy news week, ANYTHING CAN HAPPEN!! My gut is giving me BEARISH vibes with the analysis of this chart and I believe USD could be finding support after its stunning comeback later in the week last week!!
Short
by Novi_Fibonacci
2
COIN : On the RiseCoin has been on a roll the past 2 days. Back on 6/22/21 COIN retested the 5/19/21 all time low of $208.44, when it opened with a 5.33% drop in an hour and 16 minutes, dropping from $222.64 to a low of $210.77 : There was even a 2nd quick retest of the all time low 41 minutes later : By the end of that day, COIN had closed right where it had opened the day at! The following day, 6/23/21, COIN continued to rise, hitting a temporary high of $230.47 at 10:46am, exactly 250 bars after the retest : From there, COIN drops for the remainder of the day, but the following day, COIN goes back up to close 6/24/21 just below the $230.47 level. Then, at the 6/25/21 opening, COIN falls sharply and quickly to just above the $222.64 level, where for the remainder of the day, it trades horizontally in a very narrow channel : Which brings us to this week. Starting yesterday, after trading in between $222.64 and $230.47, COIN exploded, eventually raising $36.93 or 16.48% to a new relative high of $261.05 at 9:56am today. We've remained just below this level until now : Zooming out to the 30 minute candles, we see that COIN has broken out of the relatively horizontal channel that it's been trading in for over a month now : On the 1 hour timeframe, the indicators are a bit hot right now, especially the RSI. The RSI and MACD are all at their highest levels in COIN's history. The Bollinger Band Width is just below its highest level. Volume is showing green, but I'm not seeing a substantial increase. Comparing COIN to BITCOIN on the 3 hour scale shows that COIN had a significant spike up, relative to BITCOIN : And that's pretty much where we stand as of now. It's nice to finally see some decent upward momentum... something to get excited about. Will COIN continue to rise in the upcoming days? I'm starting to think so... and if it does, it will be interesting to see how the price reacts to the various key horizontal levels that we found on the way down. Watch carefully. And keep your eye on BTC too, obviously. I still believe that COIN has the potential to be a big winner, and I wish you all good luck in your COIN investments! Thanks for checking out this update, and for your feedback and support. I appreciate it! // Durbtrade
NASDAQ:COIN
by Durbtrade
4
NAS100 Daily Highs and LowsAn interesting perspective to visualize how the previous 2 weeks have played out. Marked are each of the daily high and low points. Price has been creating lower highs since Tuesday and as we can see, Tuesday has created the weekly high and low so far. If price breaks Tuesdays low then price should come down to the 13550-13500 area. With a Fibonacci retracement on Tuesdays High to low, we can see price was rejected at the 13700 area on the 61.8% fib level. If NFP tomorrow creates strong bullish momentum then I would like to see Fridays high broken and close off the week around Tuesdays high or above.
OANDA:NAS100USD
by skypointmarkets
XAU/USD (GOLD) LONGDaily timeframe is bullish as we didn't break our previous low 4H timeframe is bullish as we didn't break our previous low and made a new high Based on the 4H chart, Gold will come down to retrace our Fib level around 50-61.80% where we also have a resistance/support level (look left) So personally I would wait for a 4H buy signal confirmation around that area Once we have a confluence area of support being formed+ golden fib level+ a candlestick pattern (preferably bullish engulfing) Only then I would take buys TP1: -27% fib level TP2: -61.80% fib level S/L: Below the previous swing level *Bare in mind that any news or fundamentals can change the bias at any time, so manage your risk accordingly
OANDA:XAUUSDLong
by YerwantKansabedian
GBP/JPY LONG Top-Down Technical Analysis: The monthly time frame shows a strong bullish signal Weekly also is bullish biased rather than bearish as candles are making higher highs and higher lows Coming to the daily time frame we can clearly see how the trend has switched from bearish to bullish as soon as we formed a double bottom and broke the previous lower high formed. Now as we created a new high , price should come and retrace at a certain level (most likely around 133.500-fib 61.80% where we see a lot of confluence), thus creating a new support (new higher low) to continue its bullish movement. In the 4-Hour time frame, price was bouncing within the channel until it broke out of it to the downside so now, as mentioned earlier, this movement shows that price is more likely to retrace at lower levels to create a new support and continue its overall bullish movement. Target Profit 1: 1st purple zone at fib -27% Target Profit 2: highest purple zone or at fib -61.80% (depends on the price movement...though safer at -61.80%) *Keep in mind that fundamental analysis may disrupt price action at any given time, specially with sudden news being announced and creating a new sentiment in the market.
Long
by YerwantKansabedian
4
GBPCHF At Key Area. Two Scenario'sGBPCHF overall is downtrending as you can see on the higher time frames (4H and above). We have added a chart image of the weekly and daily charts below this description. As you can see on the weekly chart, Price in march had spiked down aggressively to form a new all time low for GBPCHF. This can signify a possible aggressive rise in price in the near future. Price had recently broken below a larger range and is now trading within a tight range below. On the 1H we have a clear downtrend towards the bottom of the range and price has failed to break below multiple times. We have marked two scenario's on the chart, however we have a LONG bias on this pair due to price nearing all time lows. Short scenario; If we get a clear break below support, we would like to see price develop a continuation pattern on the 1H or 4H charts to look for shorts. Long scenario; We would like to see price break above the minor resistance (blue line), retest and reject this area with strong bullish momentum candles (engulfing/pinbar) to confirm long positions to the top of tight range and possibly further. Follow us for more analysis and educational content!
Long
by BlueFireForex
DXY medium term perspectiveGood morning people am back to posting frequent ideas... to begin with, the dollar still remains respectively bullish we had the key 99.00 psych region which was clearly a clear barrier, area of liquidity, however due to fundamental positive data and china and the US still centring the attention with a possible trade deal we could expect further highs to be made to around the 100.00 region. Currently, price could test the previous high, if theres signs of rejections we could retrace to confluence area of trendline and MA to create a higher low before making new highs.
TVC:DXYLong
by danresdidualfx