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Longtermbull

NZD/CAD – Long term analysis & Short term tradeTime Frame: - Daily/Weekly Analysis - 1HR/2HR Execution - 30Min Confirmation Trend: HTF Downtrend after HTF pullback to 70.70% Fib Weekly = Downtrend Daily = Downtrend 1. We are observing the continuation of a downtrend after a large retrace took us to the 70.70% Fibonacci. 2. We then continued our descent within a strict downward trend line (5 bounces off resistance, 3 off support). As of recently, support has been weakening as you see price is not respecting the trendline as strongly as it was. In addition, we are now back into a demand zone that has already been mitigated – meaning, the liquidity that would otherwise help us reverse momentum to the upside is no longer there and instead the lack of buying liquidity should help invalidate and turn this into a supply zone. 3. This happening would in the longer run be helpful for buyers as I do believe, in the longer run, price wants to reverse and we want to create a HTF higher High and mitigate Supply levels above. However, buyers lack liquidity at the moment and could use a strong low/level of support/demand zone to propel this reversal. This current level/zone is likely an induced order block to bait buyers in however I would be careful of price potentially holding at strong support and psychological .7900 level which is also the bottom of our mitigated demand zone – this could propel a large move to the upside and begin the HTF reversal. My short term hypothesis and trade plan for NZD/CAD is since we just recently had a liquidity grab and hit our LTF supply zone, I will wait for a strong resistance off our current 8.08 level (61.8% fib) and with confirmation, take a short trade toward the bottom of our nearer demand zone and ultimately to our POI below. Confluence: 1. Weakened Support/Trend line breaks 2. 61.8% resistance / Liquidity Grab for further push downward 3. Mitigated demand zone turning to Supply Zone 4. Strong unmitigated demand zone below for necessary liquidity 5. Lacking liquidity for HTF reversal Trade Plan as follows: Stop Loss: Above mitigated demand zone Take Profit 1: Bottom of mitigated demand zone = 3.36 R:R Take Profit 2: Top of unmitigated demand zone / POI = 5.67 R:R *Take Profit 3: Retest of Lowest low / bottom of demand zone = 10.5 R:R
Short
by ReigningTrades
MATIC-USDT(Possible shooting star bull candles and Fundamentals)🌟⭐🌟 Depicted above 💹, we have MATIC on a 4 hour chart, MA cross gap is pretty big at the moment which is a bullish sign🐮, we also see our possible shooting star candles 😁⭐ Keep in mind it is possible we do a nice little correction ↘🤏🐻, before more blast-off.😄😅🏁🚀 FUNDAMENTAL OVERVIEW : 🧐💭📝⏬⏬ Polygon(Matic) is a very successful 2-layer scalability engine, which has been around since 2017💲🎉 Layer2️⃣ scalability allows for gas prices💲🚓on Marketplaces like OpenSea (one of the largest markets for NFTs🉑, Dapps🕹🎮, etc., which runs on POLYGON network,) to be little🤏 to none🚓😄 Polygon is now even getting it's cut out of UNISWAP🦄 V3 positions on OpenSea, where in the past 7 days UNISWAP V3 positions have moved up 2,060% to it's 25th place position of top NFTs sold on OpenSea.👇 Wow that is ironic, MATIC and UNISWAP are competitors in a sense. Not to mention, SUSHISWAP🍣 (successful reinvention of UNISWAP🦄,) is now available on MATIC network (as of about 2 months ago 🕘📆📌) 😊 😀👋👋 Here is more good news 😄😁🔽📰📰: The MATIC network just came out with QuickDuck🦆 ( a Network yield optimizer,) which uses a compounding farming strategy.. what does this mean ? 🥱🤔⏩⏩⏩ Let's take a look 🧐🔍⏬⏬: Users who invest on the POLYGON(MATIC) network, will soon be able to invest into the 100 and some QuickDuck🦆farming pools🟦 that the Network plans to release. QuickDuck🦆 technology is coming out this Sunday📌📆. ⏩⏩ (investors on the QuickSwap, SushiSwap🍣 and Cometh exchanges will earn more money through compounding interest, etc...) This is an upgrade no doubt for the POLYGON network👌🆗, which previous to QuickDuck🕘🦆, investors could only withhold profit rather than just reinvesting the profits earned (compounding.)👍 This chart is just for fun⭐ and I believe MATIC will increase in price long-term🆙🆗. Networks like POLYGON are a good alternative to save on crazy GAS fees🚓💲 on overclocked networks like ETH.👌 ✅🆒💗🔍📈 If you enjoy more technical approach rather than fundamental✌💹⏬⏬: Take a look at MATIC chart WEEKLY on a logarithmic scale. It paints a pretty bullish picture 🐮🌄, if history is to repeat itself. If we maintain bullish momentum, I will post an update with more (possible) accurate targets short-term! 😀 🛑🛑🛑This is never financial advice🛑🛑🛑 I always recommend looking at multiple charts when making a big investment, thank you! Always have a stop loss ✋🛑💲 set Any thoughts 💭💡, questions 🙋‍♀️🙋‍♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome. Thank you so much!!! Jazerbay 🐶
MLong
by jazerbay
10
BTC, so far, according to plan.....In my last post "I may have to give up 5.4k" (Yellow Box on chart) I stated we were entering a 3Day block, and were likely to see a pullback. I also mentioned the very real possibility of us grinding up a bit further into the block before we headed down. That's exactly what happened. A) We ground up, touching the underside of the 3/1 on the Gann Fan I've been following since 6.4k, and then proceeded to start our correction. B) We corrected to the 4/1 of our Gann Fan, saw a momentary consolidation, which ended up being distribution, and have since dropped below further.... C) The V Wave formed at B, has given us two targets, both of which providing strong confluence with other methods of TA. The 1.0 Ext has Daily Level Demand resting near it, as well as a 4hr OB. The 1.618 Ext sees us once again testing the 8/1 of our Gann Fan (The bull's last stand line), as well as a Pivot/SR Flip level. As always, I'll monitor the PA around the levels as we near them, looking for signs of it holding or failing. Should the Bulls fail to hold the 8/1 1.618 Ext level....7.2 is most likely the next target, and possibly even new lows (beyond 6.4k). As always, practice solid risk management, and good luck in your trading! Short Term Bearish Medium/Macro Bullish
COINBASE:BTCUSD
by mrjones2020