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Bitcoin BTCUSD - Elliott Wave UPDATE! + Rising WedgeBullish scenario for Bitcoin: - This is my current bullish Elliott Wave count and as you can see, the price action is currently extremely bullish. - RIsing wedge is generally a bearish pattern, so there is a chance for an ending fifth Elliott wave diagonal. - Expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio (RRR) - For more information, please check my signature below ↓ - I am not expecting the price to go above the rising wedge, it is possible, but sounds unlikely and can be just a bull trap or liquidity provider for whales. - The volume is decreasing and this trend should continue for next month. - If you want to see more of these ideas, hit "Like" & "Follow"!
BITSTAMP:BTCUSDLong
by UnknownUnicorn2537518
13
Does news events affect price action analysis in trading ?Hello everyone: Today I want to discuss news events in trading. Often when a news event comes out in the market, we get some sort of volatility and we get a strong spike/impulse. However, does news events affect our ways of understanding price action analysis ? Let's take a look at a few examples of the recent FOMC volatility that happened in the forex, indices and commodity market. Most of the market had a sharp quick move to one direction, hinting a sign of weakness in USD/JPY..etc. However, all of them ended up with a reversal impulse, and recovered all the price from the volatility. So, what can we take away from this ? News certain creates volatility, but not the overall price action trending direction. We may get a temporary short term move, but eventually the market recovers it, and resumes its original direction. Often beginner/newcomer traders will try to “jump” onto the news momentum, but usually end too late, and they will take a BE or losses. We can not control the outcome of the news or whether the news will be positive or negative towards our trades, but what we can control is our entry, SL, TP, risk management, emotions and mindset. Any questions, comments or feedback welcome to let me know :) Thank you Jojo
Education
by jojofang0901
18
GBPCAD - short setupGBPCAD is in a strong downtrend... on the daily market broke below support with a strong bearish impulse which has been followed by a correction to the 0.50 fib making a new lower high, now i am expecting the continuation to downside and market to form another lower low from a daily perspective. On the 4hr timeframe we will be waiting for market to break below this counter trendline and form new 4hr bearish structure then if all other rules are met we can enter on the retest of previous support turned resistance.
Short
by ITSCRYPTO1
Weekly Trading Recap ADAUSD, EURUSD, USDCAD, AUDCAD, Mar 20 2021Hello everyone: Welcome back to this week’s trading recap video. Let's take a look at the positions that closed down this week, and what are still running. I will explain my approach on the entry, SL, TP and management. ADAUSD (Cardano) - BE Full analysis/forecast: USDCAD -BE Full analysis/forecast: EURUSD - BE Full analysis/forecast: AUDCAD - 2 trades closed down for 4% Full analysis/forecast: EURNZD - BE Full analysis/forecast: Any questions, comments or feedback please let me know. :) I will always do a weekly trading outlook live stream at the beginning of each week to discuss any potential opportunities ahead in the forex, crypto, indices, and commodity markets. Feel free to tune in to my forecast. :) Thank you Jojo
OANDA:NAS100USD
by jojofang0901
21
USDCAD Big Reversal Coming, Don't miss the buy Hello everyone: Looking at USDCAD here to have the bullish reversal in the up coming weeks. WE see higher time frame descending channel correction, very good indication the price isn't getting push down anymore. As the latest price pushes down to the bottom of the structure, and a lower time frame expanding structure formed. As we know expanding structures can be both reversal and continuation, so its best we see a confirmed breakout from that structure, and any LTF correction buy to get in on this big reversal. Thank you
Long
by jojofang0901
28
SPX500 Sell setup from the top Hello traders: Similar like my outlook on NASDAQ, I do see the bearish reversal price action in the making. Previous sell from the top did not breakout of the HTF expanding structure, and move up once again to the tops. We then see a double tops in the making, and a LTF ascending channel reversal. Latest breakout form the channel can be the first sign of the bearish reversal we are waiting for. Look for LTF continuation correction to get in the on the sell down. Thank you
OANDA:SPX500USDShort
by jojofang0901
45
DOWJONES Watch for sell reversal Hi everyone: Watching DOW at the top of its overall price action for reversal bearish opportunities. We see price has been consolidated in the higher time frame structure for quite sometimes now. Latest price had a quick LTF move up to the top of the structures but within the ascending channel correction on the lower time frame. This is a good indication that the price isn't going to continue upwards, and a reversal is imminent. Best to wait for a strong breakdown from the price and follow by continuation correction on the LTF to get in on the sell. Thank you
OANDA:US30USDShort
by jojofang0901
29
EURAUD Watch for this bullish reversal. Hi traders: EURAUD has been in a corrective structure for quite sometimes now. We see price moved down within this descending channel, correcting the price to a potential double bottoms on the higher time frame. Then bullish move in the LTF, push up the price, begin to form consolidations. Either expect this wedge/channel the LTF to breakout of the HTF descending channel, then look for continuation correction to buy. Or We may see price move down once more again correctively to form a LTF double bottoms before the big reversal. Thank you
Long
by jojofang0901
16
GBPJPY Short Term Bearish Reversal Hi everyone: Looking at GBPJPY's current lower time frame price action. Overall price has been pushing up, and we have yet seen a deeper consolidation for bullish continuation. Instead we see price broke the HTF swings high tops, and correctively move up in an ascending channel, could be the first sign of a potential bearish reversal. What I will wait for is a clear LTF impulse out of this channel, and continuation correction to sell. Look to see if price can break below the previous lows and continue, or reverse back up to the upside. Thank you
Short
by jojofang0901
43
EURJPY Short Term Sell Setup Hi traders: Similar like other JPY pairs, I am also seeing EURJPY can have a short sell potential. We saw price has been within the channel like structure pushing the price up. An ascending channel was formed and broke the previous tops correctively. Then, LTF formed a H and S pattern, and a strong LTF bearish move down. This could be the first sign of the bearish reversal on the lower time frame. Wait for continuation correction after a strong breakout would be very ideal to look for the short sell down to previous lows. Thank you
Short
by jojofang0901
19
NASDAQ Looks for bearish continuation correction Hello traders: Price as we can see broke down from the previous ascending channel structure, and strong bearish impulse out of the the higher time frame ascending structure. We then see an expanding structure and further push down from the price. Eventually, price formed a deeper consolidations, rising wedge correction. To confirm further downside entry, best to wait for breakout from the wedge and LTF continuation correction to get in. Thank you
OANDA:NAS100USDShort
by jojofang0901
62
EW Analysis: USDJPY Remains Bullish Towards 2020 HighsHello traders! Today we want to update USDJPY chart, which is moving nicely bullish as we expected at the beginning of 2021 and seems like there's room for more gains towards 2020 highs as we see an unfinished five-wave cycle. As you can see, USDJPY is in an impulsive move up, breaking even above base channel resistance line which suggests wave (3) of a five-wave cycle. So, more upside is in view towards projected Fibonacci 110.80 and 112 target levels, but probably once a current consolidation, ideally a correction in wave 4 fully unfolds. Wave 4 can be either a triangle or a flag pattern that can retest the base channel resistance line as a support before the uptrend resumes. We remain bullish as long as the price is trading above 106.20 invalidation level. Trade well and all the best! If you like what we do, then please like and share the idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Long
by ew-forecast
AMAZON Continuation Correction for the buy Hello traders: Looking at AMZN now for further upside potential. We see that strong bullish impulse up, and price being to form the larger deeper correction. This is a good sign for continuation for the price, as we see the structure develops into a triangle/pennant after seeing a bullish push up. I see 2 scenarios for the buy, either price can break out now and form continuation on the LTF to push higher or Price correctively push down once more to the lows of the correction, and reverse up from that point. Thank you
NASDAQ:AMZNLong
by jojofang0901
13
TESLA Is it time to buy now ? Hello traders: Tesla has dropped down quite a bit since last month, and the question is, is it time for the bullish price action to start now ? We see the latest price has dropped down from a continuation correction, but failed to form further LTF correction to push the price lower. Instead what we get is a reversal impulse up from the price, could indicate the first bullish momentum to come in. Wait to see if we get LTF continuation correction to formed here, and an inverse Head and Shoulder pattern to give us further confluence to look for a buy from here. thank you
NASDAQ:TSLALong
by jojofang0901
51
BITCOIN Deeper Correction before the next long term buy Hello everyone: I haven't update bitcoin for a while since the last bearish move down where I sold my previous hold position. Now that the price developed more on the lower time frame, its show a bit more structure now. We can see price did broke the all time high briefly, before a short lower time frame impulse out of the ascending channel. Latest price action on the LTF show a continuation correction in the making. What I expect is to see short term bearish move down to the previous low area, formed a deeper correctional structure, and reverse from the bottom to continue the bullish trend that we have seen. Personally not into the short term sell, but certainly has potential to the downside. IF we get see price move down to the previous lows and form reversal price action from the bottom, then that's would be very good bullish continuation entry to get in. Thank you
BITSTAMP:BTCUSD
by jojofang0901
38
CARDANO Dont miss the next bullish continuationCARDANO Dont miss the next bullish continuation Hi traders: Looking at ADA for the next bullish run to the upside. We can see price has pushed up very impulsively, and many LTF continuation correction formed to give us the buy entries. Now that price hit the all time high, and begin its consolidations, it give us a good confirmation that a continuation correction is likely to form. Latest price action shows a potential completion of this pennant/triangle like structure, ready to break out now. Wait for LTF impulse and continuation correction to look for buy. Once price breaks all time highs, then look for further scale in opportunity to go. Thank you
BINANCE:ADAUSDLong
by jojofang0901
58
Expanding Structures/Patterns in Price Action AnalysisHello everyone: Welcome back to another price action structures/pattern educational video. Today I want to discuss the expanding structure that I always see in the market. These structures/patterns are a bit more advanced, as they are not so clear on whether it's a continuation or a reversal correction. Lets dig into some typical forms that I always see in the market, and discuss the possible opportunities we can get from them. Expanding structure can come in all sorts of sizes and shapes. They are not the typical channel, flag, pennant/triangle, Head and Shoulder that we usually encounter. The key here is to identify them and observe if we are going to get trend continuations, or trend reversal after the correction finished. Any questions, comments or feedback welcome to let me know below. I will include all other types of price action structures/corrections that I have discussed in the past below, for everyone’s references. Thank you Jojo Impulse VS Correction Continuation and Reversal Correction Multi-time frame analysis Continuation Bull/Bear Flag Reversal Ascending/Descending Channel Reversal Double Top/Bottom Reversal Head & Shoulder Pattern Reversal “M” and “W” style pattern Reversal Impulse Price Action
BITSTAMP:BTCUSDEducation
by jojofang0901
41