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WES | Price Discovery | Key Level | 21 EMA Visual Guide Today's analysis – WES – Consolidating below ATH resistance as the 21EMA coils price into its APEX. Points to consider: - Strong trend - Key level (apex) - Price discovery (blue-sky breakout) - 21 EMA visual guide - Oscillators above 50 WES trading in a clean and strong uptrend finding resistance upon retest of its all-time high. Price is trading at a key level as support (21 EMA) and resistance converge, a break in either direction is imminent. A rejection at the resistance level, price is likely to retrace to daily support. Price breaking bullish will induce new all-time highs for WES as it enters price discovery mode. Further price development will allow the 21 EMA to act as a visual guide assisting to determine the immediate direction of the market. Price trading above the EMA perceived bullish and below considered bearish. RSI and stochastics trading above 50 validates strength and momentum in the immediate market; oscillators need to range above 50 to maintain the bullish bias. Overall, in my opinion, a successful S/R flip retest of the current resistance level validates a long trade, utilising the 21 EMA to assist in trade management and defining risk. If you’ve read this far - thank you for following my work! And as always, Focus on you, and the money will too!
ASX:WESLong
by Kudiiee
ONT/BTC | Macro Trend Reversal | Key Level | Trade Setup Today's analysis – ONT/BTC – establishing an S/R flip retest above structural support. Points to consider: - Bullish price action - Trend Reversal - Support Confluence - Volume Influx - RSI ranging above 50 ONTBTC trading in a healthy uptrend, breaking its structural resistance with multiple bullish engulfing candles indicating strong buyers in the market, forming a bullish bias. Price breaking bullish from its inverse head and shoulders pattern, forming consecutive higher lows and higher highs is indicative of a macro trend reversal. A successful S/R flip of structural support as it coincides with the 200 EMA will solidify the trend reversal. There is a clear volume influx coinciding with the break of the key level, follow-through is required for continuation. The RSI is currently testing the 50 level, it needs continue ranging above 50 to maintain strength in the market. Overall, in my opinion, a successful S/R flip retest backed by volume validates a long trade to technical targets above with risk defined below structural support. If you’ve read this far, I’d like to thank you for following my work and development as a trader! As always, Focus on you, and the money will too!
Long
by Kudiiee
2
Breakout #CrudeOil #Oil Oil prices pushed higher overnight however found itself anchored sideways during the Asian trading session as investors weighed virus and weather-driven demand whilst taking into account that US crude and gasoline stockpiles continued to shrink. OPEC+ still maintains its stance on ramping up supply to the market the month after as well. WTI prices rose by 0.4% overnight... My bias is bullish on USOil as we see a clear breakout I’m waiting on the retest
FX:USOILLong
by Tooblessed1805
TRXBTC | Key Level |S/R flip Retest | Head and Shoulders Today's analysis – TRONBTC – Trading at a key pivotal level, putting in an S/R flip retest. Points to consider: - Valid head and shoulders (neckline breached) - S/R flip retest - 200 EMA support Confluence - 21 EMA (visual guide) - Low volume - RSI trading above 50 - Stochastics buy cross TRXBTC has breached its inverted head and shoulders neckline, validating the pattern and establishing a higher high, forming a bullish bias in the market. Consolidating at it its daily support zone, putting in an S/R flip retest. Price needs to hold this level for a valid long trade. Support zone is also in confluence with the 200 EMA acting as dynamic support, further solidifying this key level. Price trading above the EMA will support the bullish bias. Further price development will allow the 21 EMA to act as a visual guide assisting in trade management. Volume is clearly tapering off and below average. An influx of volume is key at this level to support the trend continuation and void any fake-outs. RSI holding above 50 as it cools-off from overbought conditions; ranging above 50 will retain the strength in the market. Further bullish price action will form a bullish crossover on the stochastics with ample stored momentum to the upside. Overall, in my opinion, TRXBTC is in its buy zone for a valid long trade with technical targets above. Volume follow-through is needed and will be key for a bullish continuation. If you’ve read this far - thank you for following my work! And as always, Focus on you, and the money will too!
Long
by Kudiiee
2
LBCBTC | Key Pivot Point | Channel Support | Volume InfluxToday’s analysis – LBCBTC – Testing key support, price holding this level forms a higher low; first signs of trend continuation. Points to consider: - Macro-trend bullish - Key level- channel support - 21 EMA- visual guide - Volume influx - Oscillators oversold LBCBTCs macro trend is bullish with consecutive higher lows and higher highs forming a probable ascending channel. This projection gives us a bullish bias on the market. Price is at a key pivot point, channel support, respecting and holding above this level backs the bullish bias. The 21 EMA acts as a visual guide upon strong trend continuation as it is historically respected by price action. Recent volume influx solidifies channel support as a key level. Volume must remain above average to maintain a trend continuation and avoid any fake-outs. Both, the RSI and Stochastics trading below 50, recovering from oversold conditions, a sign of weakness in the immediate market. However, further consolidation above 21 EMA will allow oscillators to recover with ample space to the upside before reaching overbought conditions. Overall, in my opinion, as price continues to hold channel support, a long trade is validated upon an S/R flip of the 21 EMA with the immediate target being channel median. If you’ve read this far - thank you for following my work! And as always, Focus on you, and the money will too!
Long
by Kudiiee
2
AUDUSD | Key Level | Pivot Point | Range ResistanceToday's analysis – AUDUSD – Trading at a key level as range resistance and dynamic support converge. Points to consider: - Pivot Point (key level) - 21 EMA (dynamic support) - Oscillators above 50 AUSUSD trading at a pivotal point in the chart, re-testing range resistance. A breakthrough failure will validate a short with range median as the immediate target. Body candle closes above range resistance validates a long trade to structural resistance. Price action respecting the 21 EMA has allowed it to act as a visual guide. Further price development as it breaks in either direction will allow the MA to act as dynamic support/resistance assisting in trade management. Both, RSI and Stochastics are ranging above 50, a sign of strength and momentum in the immediate market. Overall, in my opinion, further price development will allow for directional bias, validate a trade in either direction. If you’ve read this far - thank you for following my work! And as always, Focus on you, and the money will too!
by Kudiiee