MMM LONG CYCLE: EURUSDYesterday's close gave us a locked peak. We can now look for entries long. We currently have a bullish H4 harmonic. There is an outside structure pointing short, but I believe the bigger the move will be long. Looks for possible traps through the 200 EMA on the M15. Use the dxy to gauge direction on EU. Happy Trading
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Marketmakers
MMM Short Cycle: EUI'm looking at Friday as a peak reset. The count on EU hasn't been easy lately. When in doubt, sometimes it's best to be patient until the direction is shown. I'm looking for EU to continue down for at least one more push down. It is possible price will push up and trap through the 50EMA before dropping.
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MMM LONG Cycle: EURUSDOkay guys! My apologies for being MIA. Family first. My bias in long on EU. We saw some madness surrounding last weeks news but I am expecting EU to rise. We may see an opportunity for an entry during NY session. Maybe a trap through of the 50 EMA and rise from there but be cautious. There will be news. The daily is trending long and I'm also seeing a macro W on the H4. Do not force the trade if you are not willing to first accept the risk. I want to hear from you guys. Any feedback, comments or questions are gladly welcomed. Blessings
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MMM Long Cycle: EURUSDSorry for not getting this up sooner. Yesterday we saw some whipsaw action during the news. This could also be considered a board clearing move by the market makers in an attempt to clear all buyer and selles to reset the books. This also created a reset and a macro W. The daily trending long. I am now expecting EU to continue to rise next week. Use the DXY to gauge direction for EU. Trade strong. Have a great weekend!
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Buy opportunity on EURUSDPer yesterdays close, the peak is officially locked and we can begin to look for opportunities long. There is the possibility that price could come back and text the peak which would put us in line with a mid-week reversal for wed. I'd be cautious with trading back toward the peak. The bigger grabs will be long.
The reason why market makers are always one move ahead of us.The rate cut always has an adverse effect on currencies strength. On May 07, the market was predicting a 0.25% rate cut from Reserve Bank of Australia. But the bank was not easy to cut its interest rate, but due to its tone of cutting it by next month price might fall. The dovish statement started a strong downtrend of 200+ pips. It consolidates over ten days after that. However, as I showed in the blue box, we can see strong price movement in a very short time. Few news events were between them, but I do not think it was strong enough for the sharp drop. Then, on June 04, the reserve bank of Australia has cut its rate, interestingly the price was going up. Later the big drop happened. I believe market makers or the "big boys" are moving ahead of the news event, also the news is not new for them actually. This sum up why trading on the news is so risky!
PS: I know that showing only against Japanese yen is not suitable, but I guarantee that almost every pair with the australian dollar has a similar look.
Where are you running now FITBIT? Though NYSE:FIT was going within the channels & trendlines, and possible breakout in the next month, after the ER, expected is -.05, which is the period ending December 2018!! Looking at the discount Amazon gave for FITBIT products online has tremendously increased the sales volume. This ER is important! I shouldn't be as expected, it should exceed the expectations. That is what they wanted it, I mean the MarketMakers. Well, we will see it, if it is true or not. Please do your own due diligence.
USDCHF: Stop Run Open Doors for 1.00200Looking at the 4h chart of USDCHF, it’s pretty obvious that price has been in a consolidation of a quite a while, being traded into a range between 1.00100 and 0.98620.
On Thursday price breached below the lowest level of the range in addition to the 0.98480 a key support level, better seen into the daily chart.
In my books, this sudden spike to the down is a stop run. Smart money pushed the price below obvious support, washing sell orders sitting below only to push the price to higher levels almost instantly.
Jumping now into a long position has no value. Still, the price is going to rally but we better enter at the sweet level.
Just wait for the price to break above the minor swing I 've highlighted into the chart – 0.99570. Most likely price will retrace to the down accumulating more buy orders.
Go long in case your favorite setup completes and aim for at least the 1.00055 resistance level – the ceiling of the price range.
USDJPY: Following Order Flow to the UpsidePicture perfect uptrend in USDJPY, with price making higher highs and higher lows in the daily chart, there is no question that we are bullish in this particular market.
Price dropped in a sharp move starting from the 113.700 level taking out previous support 111.600. It’s not clear on how price is going to behave in the following days. What we want to see is price climbing once again above the broken support. In such case we will consider the breakout below the 113.700 as a stop run from the big whales and we will only watch to join them to the upside.
Another factor that we may consider in order to go long in USDJPY, is that price was rejected for good at the 0.707 and 0.786 fib retracements of the previous impulse.
EURUSD in Bearish Context - We Watch for ShortsStill in a downtrend, since price never managed to break above the last major swing lower high, what we do watch for is a selling opportunity in the EURUSD.
Another key factor why I am bearish in EURUSD is that obvious stop run occurred at the 1.14730 level. Pay attention to how price spiked massively from the 1.13650 level breaching above previous resistance 1.14730. Instantly price reversed to the down showing no intention to keep climbing.
Being in a downtrend and having in mind that we recently have had a potential stop run to the upside all I am looking for is the price to climb towards 1.14500 zone and look for a sell setup to complete.
In case the price drops there is a high probability to reach the 1.13350, taking out previous short-term support levels.
GBPUSD: Multiple Rejection at Resistance Signal ShortsGBPUSD broke below 1.26625 key support, reaching 1.24770 where it ended its sell-off starting a pullback to the upside.
It reached previous support 1.26625 where we do have multiple rejections a great sign that the level now acts as resistance.
In addition to that, we definitely had a stop run above 1.26840 level, a signal that most likely smart money have the intention to push the price to lower levels.
Now price is retesting previous support – now resistance 1.26840 level where do additionally have the 0.618 fib retracement of the previous impulse to the down.
Going short at the current level is a nice idea.
Daily Chart
GBPNZD: Looking for Shorts, Following the TrendLooking at the bigger picture in the GBPNZD there is no question that price is in a downtrend for good. Price is being traded below 1.86265 – a key resistance level – another factor to consider that we are in a bearish context.
Looking at the hourly chart of the market I have highlighted a short-term resistance level (previous support) – the 1.84840. Price is heading towards the level most likely for a stop run. In case price breaks above just keep an eye to price reaching the 1.85300 level. A bearish order block is sitting at the left showing where most likely sellers are sitting at the moment.
Consider going short aiming at current support level – the 1.83550.
AUDUSD: Anticipating a Sell-off Towards 0.71065Willing to define the directional bias in AUDUSD, all I did was to take a look at the higher timeframes of the market and focus on structure levels. Since the 0.73940 level price has been in a sell-off, dropping making no corrections. On its way to the down price breached below the 0.72000 key support level setting us into a bearish context.
Another factor we may consider is the stop run occurred at the 0.72400 level. After a short-term consolidation price breached above 0.72400, taking out stops, only to collapse in a matter of time. Smart money push price to the down. Most likely, another key level they can make business is the 0.72035 resistance level. Stops are sitting above the level.
Keep a close eye for a stop run above 0.72035 level. In such case consider going short aiming for the next obvious support level – 0.71500
Future of Cryptocurrency market: Traces of Cooperative OperatorWhile almost every trader is focused on derivative indicators, subjective chart patterns, Elliot Waves and other abstract objects or collective illusions (which rarely come true through self-fullfilling prophecies), the only way to be closer to the right outcome in your predicitions is to see the market how it really is. Price can change only when limit orders in one side of the orderbook are filled or canceled, not when it approach some trend line. Markets are driven by retail trader's emotions, but there are also more powerful participants, who decide in which direction it will go. Market makers are able to move the market, but they have problems with executing large orders because of insufficient liquidity. Therefore they need to organize the market's moves in patterns of accumulation and distribution phases. In other words they probably know in which direction the market will move, but they cannot just buy or sell in one particular point. On the other hand we don't know what the future holds, but with right money managment techniques we can be much more flexible. And we know who holds the future.
Today BTC's yearly low from late June (5880 $, Bitstamp) was deepen. It looks like potential ST or Spring. It shouldn't go further than about 4,5 - 5k. We have clear distribution (distribution #2) pattern from November 2017 (note that in these days marketcap of USDT just exploded) to early February 2018. And almost immediately the market moved on to the next stage, which was accumulation (accumulation #2). It's interesting that there was extraordinary dynamic move in USDT marketcap in the end of January 2018. But why accumulation #2 is executed so high? I have a feeling and it's very experimental idea, that these two are parts of bigger one, which will end up as distribution (distribution #1). As Wyckoff said: "That's how it's done - played in both directions". What I expect in the next few months is markup in accumulation #2, which will be in fact UT or UTAD in distribution #1. It should go slightly higher than our present ATH (maybe 25 - 30k). And after that we can expect hughe and long bearmarket with bottom at about 1-3k.
$BIOAQ Don't let the shorting MMs fool youShorts (and some naked shorts) are being squeezed.
OS at 129.45M and public float of 116.91M
www.marketwatch.com
Check out the volume:
As of 1:20pm EST, $BIOAQ has traded over 14M shares
With all the news out does this feel like retail profit taking or MM manipulation?
If you're on L2, check out the orders-- 250k and 500k orders...these aren't retail.
Here's Jim Cramer explaining how he would do exactly that:
www.youtube.com
*especially watch the first 90 sec
The shorts are getting squeezed...there are less than 4 trading days left until the deadline of court ordered sales transaction.
Don't be fooled, lock in long.