USDCHF 4HR Price Action Long IdeaTesting some price action ideas. If it bottoms here you should see your typical "inverse hns" look which is just price action at levels.
Good luck.
The swap rates are positive for longs here as well.
Levelsandzones
EURUSD D/240 gartley idea Analysis on EURUSD D/240 potentially forming a gartley
Currently @ resistance level/area between 1.1185 and 1.1200.
Long after pullback into support level/area between 1.1110 and 1.1130.
Potentially forming a textbook short gartley pattern with point D/killzone @ 1.1300
Trade at own risk!
Breakout opportunity on WTICOUSDA breakout opportunity is forming on the WTICOUSD.
The pair has seen a rather significant upmove earlier this year from around 40 to about 65. Since the spring it has been consolidating between mid 60s and the low 50s.
The price is now squeezing and the indicators we use, all confirm that a new opportunity is forming.
Remember to be patient and always check confirmation from the indicators!
GBPUSD : POTENTIAL PROJECTION BEFORE UK ELECTIONLooking at the Monthly cycle is there potential for a high to be created before the upcoming election ?
If the conservatives retain their lead at the polls and the Brexit Party refrain from contesting every seat, we could well see a cycle high form at previous structure level around 1.4200 towards the end of November.
Breakout opportunity on BTCUSDA breakout opportunity is forming on the BTCUSD.
The pair has seen a big upmove since earlier this year. More recently it has been consolidating between the high 13000s and the low 9000s.
Currently, the price is squeezing and the indicators we use, all confirm that a new great opportunity is coming.
Remember to be patient and always check confirmation from the indicators!
GBPUSD - ZONE TEST FOR SUPPORT ?Lots of data this week for GBP. Watch out for GBP figures and interest rate decision on Thursday starting from 8.30am GMT UK time with Halifax House Prices.
This data packed day could provide the direction for the rest of the month by the time of the US open.
AZN - False breakdownstop loss it is clear where to put.
and then we will look at the development of the position.
Here is my past forecast worked out.
USDJPY PEAK RESET- Level 1 drop M 15USDJPY has completed its H4 cycle (3 levels of rise). A peak reset has been set resembling an initiation of another 3 levels of drop.
Shorting stocksShorting the SPY all year if we can’t break & hold above this channel. If u can’t afford to short, buy an inverse derivative like TVIX or VIX...
Previous level analysisSee how after breaking the important support it broke down to almost 8% downside on Intraday basis itself.
Multiple times the support was tested and the circled candle on chart gave final breakdown.
The support line was drawn for analysis purpose before 8-9 trading sessions. Finally it broke down.
#learning
AUDUSD LongExpecting price to eventually breakout to the upside for a reversal. Watch for a bullish breakout and retest for entries...
180 PIP trade CADCHF Here we can see the main area for price action , and a perfect entry for a long and sell.
Here ill be looking to sell @0.75380 and will set TP in the highlighted zone @0.73550.
trade could take couple day but patience will be key.
Ccredit to M for the heads up
Rusty Trading
Part 1. An Algorithm Based Support & Resistance ToolWelcome!
Today I'll be demonstrating the efficacy of a method I've determined to identify and trade support and resistance (S/R) zones in real-time.
Normally, traditional technical analysis requires a S/R zone to experience multiple validation events (touches, reverses, bounces), before it becomes tradeable. The downside to this method is that numerous profitable trades are bypassed while confirmation is being developed. Unfortunately, many of the most profitable S/R trades appear soon after a level develops (think double/triple tops).
After much research and experimentation, I've come up with a tool/indicator that can identify significant S/R zones in real-time. Once a bar closes, there is ZERO repainting. As the chart above shows, this means that you can trade a level as soon as price returns to it - no matter how quickly that occurs.
The tool takes into account (not in order of weight):
Price action
Volume
Chart patterns
Volatility
Momentum
By combining multiple methods of analysis, levels are formed quickly, yet accurately. It's pretty important at this point to mention that I'm not claiming this is a get rich quick plan. All the tool does is identify potentially profitable zones that price will often react to. However, it's not infallible (nothing is), and it doesn't teach you to trade. You, as the trader, need to know how to trade price action to ensure a confirmation signal is given before trading a S/R event. You also need to know how to set a stop less, determine appropriate levels of risk, and undertake trade management to ensure profitability.
Now, some people say S/R zones are easy to identify - in that case, what's the point of this tool? Simply, this tool takes the guesswork/bias out of S/R zones. As human beings, we're uniquely unsuited to investing money. We're irrational, emotional, ill-disciplined, and impulsive. Frankly, the average person (of which I'm one), needs every useful tool they can get their hands on. This tool means that one step (determining a trade area), is covered for you. That's it.
Given the proprietary nature of the tool, and the value it has, I won't be releasing the code for it. At least not yet. However, something I really enjoy is helping other traders, so I've decided to start producing charts across various markets that identify relevant S/R zones identified by this tool. At this point in time they'll be provided free of charge, but depending on the demand for multiple markets (and time frames), that may change in the future.
Oh, and remember that zone I mention in the chart above? The one between 27.47 and 27.17? The one from 1995? See the comments below for an example of how it came into play 24 years later...
If you have any queries please let me know. And let me know which charts & time frames (bearing in mind, like most things, the higher the time frame the more reliable the signals).
DD
LTC / USD AnalyticsCustomer indicates the level of support
LTC Globally worked correction of the entire growth to the level of 0.5 fibo, this is excellent because the paradigm of organic growth of any asset is the correction to accumulate more volume and continue the upward movement.
More locally, we see on the 4-hour clock that the candles are closed with pin bars, with very long shadows at the bottom, based on market mechanics, we can conclude that bulls are protecting the level of $ 84-88.
At the moment, we see bullish divers on MACD and RSI (the price goes down, updating the minima, the indicator remains within the level), therefore you can add positive growth factors to the bank. All movement takes place in a bullish wedge format, which is another positive signal in long.
Bottom line: You can enter after a breakdown of the downward trend, the first goal will be 0.5 total fall of fibo - $ 106, a horizontal volume is detected there, which will only strengthen the zone. It is not worth entering yet, because we are not insured against one more long candle, and bringing our foot under a minimum ($ 84).
AUD/USD - Monthly Key Level in RangeAUD/USD is hitting resistance at Fibonacci Level 0.382 on the Daily timeframe. The overall monthly trend is a downtrend. Key Level is between 0.382 and .5. The ideal situation would be a signal of retracement at this price range. I think if the price passes the monthly key level it could be a sign of a reversal but I think the odds of a reversal happening is less as compared to a continuation to the downside. I think price broke the monthly key level as a signal to the downside so the price will retest level again and continue downwards.
On a side note price is about to hit EMA 8 and it looks like EMA 8 and SMMA 21 are about to cross.
Trading Journal #9
- Austin S.
EURUSD, Sell on H4: Continuous downward.- Possible selling momentum.
- Looking for more confirmation
Just practicing charting and technical analysisThis is not financial advice.
I expect MO to Fibonacci retrace to the golden pocket area (.618 - .65) and bounce off where we had previous resistance (a weekly and monthly level of significance).
Placing buy laddered buy orders from 48.91 to 47.82 is my idea. There is a chance price dips below the .65 into the liquidation zones a bit below. Set your stop loss according to your own risk.
Take profit at significant levels of resistance/support on the way up.
Breakout opportunity on EURUSDA breakout opportunity is forming on the EURUSD.
The pair is in a downtrend since many weeks and has offered plenty of trading opportunities. More recently it has been consolidating between the high 1.14 and the low 1.12.
Currently, the price is squeezing and the indicators we use, all confirm that a new great opportunity is coming.
Remember to be patient and always check confirmation from the indicators!
OMG! BTC! What a weekend!I made some sales on the 8th that hurt my soul on the 9th. We are in my sky zone and as you now any long flight through clouds is going to take you through turbulence. If we can shoot above $3630 and ride the storm out we are in space by Valentine's day. The smartest people, banks, and governments in the know the smart money is on bitcoin, hopefully for them. Set your stops and $3570.
TRX Swing and Spike Kissing CousinsMany believe the prices of cryptocurrencies to be based on speculation. Those people don't know what they are talking about. Trust me, economists and journalists talked me out of bitcoin many times. Thus, my doubt sewn by people with a lack of understanding cost me millions. As my engineering skillset continues to extend my ability to understand the value of products and find uncorrelated prices. Today is one of those days for Tron. Someone in the chat called a dip and I read the chart. Levels are there and they are clear. The red is the danger zone we should spike through the green. As long as Bitcoin holds up. If bitcoin slows down get back to BTC, PAX, DAI or USDC. On the other hand, you if truly understand what TRX does and you want to use it, hold, invest it, borrow against, and grow it there is no reason why Tron shouldn't see continued growth. It is one of the few top 100 projects that has reached ERC20 independence, with users, and ACTUAL DAPPS. Those are real things don't let the CyptoKitties fool you. Check 'em out.
BAT-ter UP!!!The recent distribution of BAT by Coinbase has renewed interest in the Brave browser. We are down 30% from the pump on February 6th. It is is my expectation that we will hit most of the levels to 25% by Valentines's Day. With a strong bitcoin anything is possible. If bitcoin goes down because of the getcoiners and coinists BAIL!
USD/JPY approaching key levelThe 110 supply level is approaching quickly and the reaction @ this level can possibly determine the short term course of the pair. A clear break increases the probability of upward movement to the 110.5 level. A break below could see a retest @ 109.5 and as low as the 109.1 level. Sadly, there's little in the way of economic reports short term. Volatility near these key areas is always helpful when gauging direction.
We do have US factory orders to watch for @ 10 am ET followed by some bill auctions. Regardless, traders/investors have been eyeing this psychological level for a week, so I expect some movement throughout the US session this morning.
