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Momentumstrategy

Post-Interest Rates... 🏁--> Momentum Push? USD Interest rates helped to pull EURUSD back for better prices. Euro interest rates was the catalyst for a +1% increase in the EURUSD currency pair. The WeekIy candle can push a bit more to end off the week. We usually have a bunch of liquid just past extreme highs and that is what I am explaining on the chart. This is a price action concept. took buys at the beginning of the move and took my humble 14 pips. Anticipating a continuation of price to the upside with consumer sentiment tomorrow. It is expected to improve over the prior data point two weeks ago for the USD. Given the massive buy volume it is difficult for me to visualize that the current daily candle will not attempt at lease so some of push towards the next daily level 1.098 Daily Resistance Level.
Long
by ShrewdCatfx
Buyers are we Stretching the Luck? 🫢- Weekly Candle is Bullish and has pushed past the previous week's high creating a nice breakout of 77 pips - The 3 Daily candles this week have been Bullish - The Previous Daily candle increased by 70 pips in total ( 31 Pip Body and 40 Pips top wick ) - The previous daily candle's top wick was larger than the body of the candle itself. - The 4hr timeframe has closed two large engulfing bear candles in the time since Interest rates - The Market has punished late buyers with Interest rates data ( I called this out check previous post) - The market has seen a change of character and this has known to be a frequent occurrence with interest rate releases. - I don't think a randomness bias is associated with this Short Idea after we have seen 3 Bullish daily candles in a row ( The evidence above ) - The Market is Beast and representation of the psychology of all of it's participants. Follow your understanding of the price behavior and execute with only good Risk/Reward Ideas.
Short
by ShrewdCatfx
[ BTC ₿ ] Set for a Pullback? ↘️- BTC Monthly candle is set to close in 6 Days and it appears to be closing as an engulfing candle - This current weekly candle has 4 days left to close. We have confirmed momentum already as the 3 previous weekly candles are bearish - The weekly timeframe is rejecting the June 6th,2022 Weekly Resistance Level at ( 30,000$ ) - Our Last Daily Level 26,749$ has just seen a large Daily engulfing candle close strongly below it -We may observe here on the line chart that the price is dribbling downwards and the bears appear to be in charge at least in the short term here - The first target for shorts being ( 24,309 $ ) Daily Zone & Weekly S/R Zone - Shorts target for June is ( 22,009 $ ) Weekly Zzone
COINBASE:BTCUSDShort
by ShrewdCatfx
3
Sustainable Trend? / Eurusd Longs 🐂As price rejects our weekly Level 1.066 which began on May 31st, we map a possible scenario in which we may jump on the train with long positions. I am anticipating the new weekly candle to pullback first and create a bottom wick as most weekly candles contain. Price has arguably been in a range for the past 2 weeks. The Last 2 red folders news events last week assisted in the increase of price. I am anticipating the same sort of price action this week with CPI ( which is expected to decrease and in theory pump risk assets liek EUR) and Interest rates to be catlalysts for a further increase in price. I idea is that the general consensus for interest rates being held at the same rate supports our preceding trend to the upside. Because it will be priced in and the status quo maintains. The trend is developing to the upside and some news releases will act as a catalyst for a continuation or an excuse to pullback for lower price opportunities. If this bias blows over we may simply obersve a contiued rnage on Eurusd between Support level 1.06902 Daily Support level and 1.0776 (averaged) Daily resistance level. This range scenario or descent on Eurusd will occur if we observe risk off sentiment as crypto continues to plummet and we observe a correction on the U.S. stock indices. Institutions and other large players will crowd into buying the dollar and our ascent to 1.078 will look nothing more than a pump to lure in Late long liquidity as we fall back to 1.066 weekly level.
Long
by ShrewdCatfx
2
The Eagle eyes a ( Risk on ) Inflation report 🦅The market is going up for asian session and I'm anticipating a correction of this price action during lodnon session. With USD CPI data during New york session it is possible price could just fly to the next daily resistance zone 1.0813. This will likely occur if the 4.1% forecasted inflation rate isn't met and inflation decreases at a slower rate than what is expected. I think this to be the more likely scenario because a .8% decrease in inflation seems like a bit much to me. I'm not anticipating that EURUSD will take it's lovely time increasing. It will be abrupt and cutthroat as the market blows through Investors's ***** ... Okay I will stop there because I don't want to make things to explicit. That's whats happening when price fluctuates 50 pips in the blink of an eye anyways. It's not what you want to hear but it's the truth. The unprepared will be taken to the slaughterhouse. I will implement my trading system as it allots. Risk management / Position sizing and capital preservation are especially significant during times like this. CPI data releases have acquired an important role in the last 2 years due consistently high inflation. If Eurusd continues it's downtrend on Higher timeframes and last week's bull candle was just a dead cat's bounce, then we may anticipate that price will spike at or above 1.0782 Daily resistance level or even go touch 1.0813 Daily resistance level before returning to the downside as the current daily candle closes back underneath 1.0782 Daily level and goes back down prior to FOMC interest rate news on Wednesday. Price has estalbished a new Daily support level at 1.0746
Long
by ShrewdCatfx
Ongoing Range above Key level 🎴We can observe the Ongoing Range above our Key Level ( Weekly Level 1.066 ) Monday Asian Session -> Bearish Monday London Session -> Bearish Monday NY Session -> Bullish Tuesday Asian Session -> Range, and at best slightly Bullish Tuesday London Session -> Bearish Tuesday NY Session -> Bullish Both London Session's this week have been Bearish thus far. As we approach unemployment claims data on Thursday NY Session, I can observe a Bullish London Session and increase overall on Eurusd until then. Price is not quite having the effect it once had when we initially dipped into our Weekly level last week 1.06636. The reactions off the Weekly level are becoming smaller and less pronounced. We are still holding steady however and price has not dipped below our weekly level since the initial touch. Short Sellers are happy that the Daily candle is closing bearish and they would prefer a close below Daily support at 1.06885. Buyers are happy that the decrease over the last 4 weeks on Eurusd has come to a halt as the Daily timeframe ranges above our weekly level through 1 week and 2 days into the next week. The manufacturing data yesterday was bullish for Eurusd and caused an increase in the price. Consequently, this increase was corrected down to the price of EU prior to any manufacturing data. However, NY session has been bullish for the 2nd day in a row as EU holds steady above our weekly key level. Today I had a very good trading day taking buys at lower prices near what was a 1Hr Zone at the time 1.067. The Level has since turned into a 4Hr Zone as New York has successfully rejected those lower prices.
Long
by ShrewdCatfx
2
AUDUSD: Potential BuyHere is the Framework for this buy opportunity: Weekly: -we remain bearish on this time frame -we recently came out of an 11-week crunch/consolidation zone, breaking to the downside of it -currently, we have a bullish push on the pair, closing last week's candle as a bullish piercing -I reckon this momentum to be liquidity-led and we shall collapse once the hunt for fuel on the upside is over Daily: -we are bearish, playing out a Head and Shoulder pattern that's dictating my overall bias on the pair. -current price action, as intimated, is liquidity-focused as shared -I reckon we shall pick out orders off the order level at 0.67098, thereabouts, before we tank H4: -we broke structure to the upside with the most recent upswing on Thursday, June 1st -current bullish swing indicates that the market is, at the moment, bull-dominated -as is customary with a strong bull market, a 23.6% or 38.2% setup is most likely to ensue for a continuation -as such, I portend that we shall tap back into the previous consolidation floor around 0.65650: where we shall find support and where the current upswing had a momentary pause before finding a pool of orders to push to the upside (say, demand level) and form the most current high. -this level of demand, former support level for the consolidation that had been running for 11 weeks, and a 38.2% fib retracement level for the strong upswing offers a strong confluence level to stage a continuation from -considering that we are back within the previous zone of consolidation for the pair, I am reserved in my expectations for a strong bullish continuation and shall take it one step at a time Midrange/H1: -currently, this time frame mirrors the H4 swing. -as such, the fib retracement and key levels are the same -I intend to take on a buy at the key H4 level (my expected support price), which sits around the current demand level and at the 38.2% fib retracement level -I will target the 0% extension, better yet the wick level at 0.66285 where price picked orders in favor of a retracement on Friday's close This is a potential 60 pips; not bad for a start if we end up with the aligned setup. May the week be favorable to you! NOTE: this is just my opinion on how the market shall play out and should not be taken as financial advice. Kindly rely upon your own analysis and understanding of the market when making trade decisions.
Long
by lovinmulika
More Gas in the Tank? Eurusd 🌬️If we are trading with the trend then it would be wise of us to continue to look for short setups. However, Price has plunged to the downside plenty and it is reasonable to ask when will we see a correction. My thoughts are that we see a dip early in the week. Buyers eventually show up around our weekly level 1.06654 and we continue up for the rest of the week or consolidate after liquidating late shorts. The debt ceiling controversy may be used as an excuse to pump risk assets. It would also provide a nice opportunity for the dollar to pullback. Alot of talks about the dollar being over-extended may see a last and final burst to liquidate any dollar shorts at these level's. After that the dollar may then ease off the highs and pull down for the rest of the week. (Meanwhile EurUsd would go up) A double bottom looks like it may be forming on the 4Hr and so we may an increase on Eurusd sooner rather than later. Anything may happen and so we must follow the processes we have set in place to protect ourselves. Expect nothing from the market and it cannot dissapoint you. There is always another day to trade your setup as there is always another week to execute your strategy. Trading Talk: The way in which I execute my two setups during NY session are as follows. Setup 1: Outline the specific zone you would like to execute this setup. Set your alert(s) Setup 2: Pick your current bullish or bearish bias and write it on the chart. I only allow myself up to 15 Trades / Day But I will not lose more than the Percentage equivalent of 2 Losing trades. Beforehand my risk management strategy was only as good as my skill. But Sometimes to a fault. Now my risk management strategy is as good as my Preparation. And this will encourage only the higher quality setups. Have a good trading week.
Short
by ShrewdCatfx
2
Eurusd Longs " Where art thou ? " 🔭As Bank Holiday Trading comes to a close, we can observe another Bearish Daily candle. The Eur is weak through the holiday trading and the U.S dollar advance is yet to give in. The dollar index is a little bit better than B.E. on the day. For Eurusd : - Watch 1.07116 4Hr Support zone closely. A Strong 4Hr candle closure rejecting this level may send us quickly back up to 4Hr resistance Zone 1.074 and next we may retest our most recent Daily Level ( Daily S/R Zone 1.076 ) - A touch into our 1.0665 Weekly Zone In my opinion is very likely and will coincide with the 6 Red folder news releases we have this week. - We have alot of news this week and we must be aware during our trading - Bull targets for the week include 1.08125 Daily Resistance Level - Bear Targets for this week include a touch into 1.06245 Daily Support Level No trading today since it is a bank holiday. Less opportunity in a low volume market. At least when it comes to the parameters of my trading plan. Safe Trading.
Short
by ShrewdCatfx
I might buy this minor uptrend but GOLD IS BEARISHGold is coming off of lower low after lower low on all major timeframes so its not surprise that my first bias is bearish. However, when it comes to intraday trading, momentum is important for swings in the market and the difference between volatility or consolidation while profits float. I'm going to take this opportunity to buy gold if a structural higher high is formed since my immediate correction trendline has already been broken. Any buys are short term countertrend moves as the winning team is currently the bears. The neckline of the daily double top and retest of weekly resistance will not go unnoticed.
OANDA:XAUUSDShort
by DesharedPierreJr.
1
Does "News" Impact Price Behavior? 🐒We can Observe that After the 1st Quarter of the Year, January-March the price of Eurusd has increased. Now As we near the middle of the second quarter, I can't help but visualize a Breakout. Price is currently sitting at 1.102. So far price has respected the Weekly Level at 1.106. The High for the first quarter was 1.103. We have now spent quite a bit of time at these extreme prices. I can often observe price using News//Data Releases on Lower time frames as a boost. A Boost of momentum in the preceding direction. I can observe 3 Potential News//Data Releases causing and becoming a Catalyst to leave a Large Trading Range. 1. NFP 2. CPI 3. FOMC Interest Rates. Will FOMC provide the Volume? Do we have enough Liquidity? Or may price dip from here back to our 1.086 Weekly S/R Zone before increasing any further? My Bias is Bullish moving into FOMC. Safe Trading Everyone. Not Financial Advice. Educational Purposes Only.
Long
by ShrewdCatfx
Don't be fooled by reversal candlesticks this pair BULLISHUSDJPY may be slowing down in pertaining to bullish momentum, but a few other things need to happen for a short. A correction trendline has already been broken which is the first sign. The following must occur on the intraday 4H timeframe for me to short. I need to see a Lower low along with the moving average crossover to the downside. then a retest to the neckline and providing indecisiveness and volatility on the 1H. My first target for any shorts will be the major 38.2 PRZ level. Because this pair is massively bullish, all targets for buys are locked in at -27% then then next daily resistance since price is creating record highs.
Long
by DesharedPierreJr.
The Fight For 26,749 Daily Zone 🐻 | Bitcoin ₿With 1 Day until the weekly candle close we can observe a currrent Doji candle forming. & This is not particularly exciting for either side. The Daily Candle closing in 2 hours appears to be closing at our 26,749 $ Daily S/R Zone. This is good for the Bears. The Bulls are desperate for a strong close above here. Even if the next daily candle goes up and closes up 1% we still would have + 1.5% to go to reach the weekly high at 27,500$. I am still favoring the Bears as price has been moving down on the Higher timeframes in the medium term and that is likely to continue. For Bulls if we can break and hold above 26,749 $ then we may see an easy move back up to our 4hr zone 27,250
COINBASE:BTCUSDShort
by ShrewdCatfx
1
Bitcoin is Creating Lower Highs but the Lows are Equal 🕵️Bitcoin is rejecting Higher Prices and creating Lower Highs. BTC is simultaneously holding a flat support level at 26,600 4Hr level as we can observe here. Price is squeezing downwards but the bottom is remaining flat at our 26,600 4Hr level. Soon this pressure may burst up or down and I'd bet on more downside. This Price action/Multi-timeframe analysis details a bearish market. Bearish Market Structure has Lower Lows and Lower Highs. Bullish market Strucutre has Higher Highs and Higher Lows. The Weekly timeframe is printing multiple bear candles. We are also creating back to back descending wicks on the Daily timeframe. This denotes a market that is in momentum. Looking for lower prices here. Will Update. Safe Trading.
COINBASE:BTCUSDShort
by ShrewdCatfx
A New week and Eu continues the descent 💎Eurusd is currently jumping around inside a tight intra-day range. Eurusd appears to be rejecting our 4Hr S/R Zone and maybe EU will turn into another textbook opportunity to sell a resistance zone in a downtrend. We have bearish momentum and a wick to fill on the previous week's bottom wick. The previous week's bottom wick currently stretches 45 pips that we can easily go fill. London Open appeared to want to drop to the downside but the market was not ready. For New York we have returned to the top of the range and the bulls are struggling. The NY Open 1Hr candle attempted to make a move up but ended up leaving a wick and closing back inside our 4hr range between 1.082 4Hr Zone and 1.0806. A tight knit 14 pip range possibly distributing to the downside. Another clue is the 4Hr candle that closed 1Hr ago, failing to close above 1.082 4Hr S/R Zone. The Daily Candle has been bullish but the upside has been limited due to our 4Hr 1.082 Level. (Sellers are protecting this area) The Daily Candle keeps testing buyers as it threatens to flip at our 4Hr Support level 1.0806. This is where the market opened at Asian yesterday and if 1.0806 4hr zone doesn't hold then we will be looking towards a retest of 1.078 1Hr Zone in which we would be filling the previous week's bottom wick with momentum. Momentum that has been carried over from the previous week. Looking for this price 1.078 soon or we may range longer and will have to re-evaluate.
Short
by ShrewdCatfx
Keep it Simple🧧 4Hr Resistance Zone in a Short Term Downtrend ₿It is Safe to Say that after looking at the Weekly chart, Bitcoin will likely see more downside to come. We can observe Bearish market Structure on the Weekly Chart. A LL on the second week of April(27,566$), a Lower High on the first week of May (29,236$) and now a New LL (26,931$) on the Second week of May. Price is stair stepping it's way down. Gracefully. But with that said we may see a fierce drop to come as we have seen in Years Past on BTC. We can recall that when investors and institutions dump BTC they do not hesitate. The Daily Candle is About to close Bullish. However we can at least anticipate a Lower wick and bounce off our 4Hr Zone 27,430$ On Monday of this week Price respected our 27,600$ Weekly S/R Level. Price in Medium Term has eased off our June 2022 30,000$ Weekly S/R level and is pulling down. With clean traffic to the left on the 4Hr Timeframe I can visualize price dropping once we return to 26K again. Our Next Stop on the Daily timeframe will be 24,374$ . For Buyers we are at the extreme lows of our Daily Range between 26,700$ and 30,500$. Price is testing the extreme Lows. Will Buyers step in to protect these Medium Term Lows or will BTC print fresh lows alongside the Stock market as Inflation stays steady above the Fed's 2% Target. I think at the Bare Minimum we can anticipate a Short term range between 27,600 Weekly S/R level and 26,700 Daily Level. We are selling the top of the range. Not Financial Advice For Educational Purposes Only. This is Price Action combined with Multi-Timeframe Analysis.
COINBASE:BTCUSDShort
by ShrewdCatfx
Stubborn EURUSD protects 🛡️1.076 Daily Level FOMC Meeting Minutes is coinciding with a touch into our Daily Support Level that has held since last Thursday. It's almost been an entire week since the decline has been halted. Yesterday we created a publishing about a potential double bottom, but we may have jumped the gun so to speak. The market may have needed more time to accumulate long orders and trap short liquidity. The Market appears to keep banging its head stubbornly against our 1.076 Daily Level. This morning thus far we could observe a volatile 40 pip range between 1.0795 and 1.075. Day traders have been having a hell of a time. This market reminds me of the FOMC Interest rate announcement about 3 weeks ago. It was a volatile range and turned out to be the turning point in favor of the bears for Eurusd. The market used FOMC as a turning point recently and I think we may see another occurrence as the market shakes out Buyers and Sellers with this volatile price action. Similar to the CPI news shaking out weak sellers 2 week ago, this market may increase. The price is low but the Sellers don't look necessarily persistent in their effort to sell into the 1.076 Daily Level. The Buyers on the other hand are happy to go long at our Daily Support Level as it offers great risk to reward. Price is has made a new low during London but was quickly bought up at our pre-planned 1hr support zone 1.0749. I liken price to return to our 1.08125 Daily Level as we continue to see a volatile range and fight in the 1.07's for Eurusd. I've struggled in my scalping of Eurusd this week and attribute it to psychology. Trading psychology is a very large part of trading and requires constant attention. It must be managed properly and is a skill just as developing a profitable system that suits your personality. It takes time to understand your weaknesses and strengths as a trader. This week I've had a particularly difficult time managing my weaknesses. Time and Patience is the greatest warrior and so I will come back stronger at a later time. Safe trading.
Long
by ShrewdCatfx
Eurusd : Double Bottom [ Daily level 1.076 ] ⛽There is a good probability that Eurusd will create a double bottom structure at 1.07597 on the Daily Timeframe. Here on the 1Hr we can observe a Low formed at the bottom of structure and is bouncing hard. I am anticipating a sort of double bottom structure here on EU. EU is flat after PMI data was released. Data was expected to be generally good and it turned out to be mixed. -This news release lines up with a retest of our Daily Level 1.07597 -The recent 4Hr candle just closed at our 4Hr Support/ Daily Level 1.07597 with no bottom wick signaling to me that there is profit taking for the bear occurring. -After 1Hr of Price action the current 4Hr candle didn't hesitate and has just gone straight up. -The bottom wick for the new 4hr candle thus far has been very minimal. - The 1Hr Candle just closed bullish at our 1.078 1Hr Zone -Often times at the 7am PST candle you can observe a continuation of the previous trend . ( In this case confirmation of a bounce off our Daily level 1.076 -We have clean traffic on the 1Hr chart back up to 1.08 where we may run into some trouble in the short term More Analysis: I bought the low price around the time when the new 4hr candle was opening and earned nearly 1% on the account. I don't necessarily think going short at Support is a wise thing unless you really know what you are doing.
Long
by ShrewdCatfx
Going with --> Gut Feeling/Spider Instinct🕷️/Sixth Sense The Weekly Candle closed bearish last week. This created the second weekly bearish close in a row denoting bearish momentum. 1.0866 Weekly S/R Zone is no longer relevant. Our Relevant weekly level's now stand as -Weekly Resistance Level : 1.1024 -Weekly Support Level : 1.06647 Our Daily Level's stand as - Daily Support Level : 1.07597 - Daily Resistance Level : 1.08739 I think it's reasonable to see some selling pressure to start off the trading for this week. Or may we at least anticipate a double bottom sort of structure and retest of our 1hr Zone 1.07802
Short
by ShrewdCatfx
3
📉🐻 Seize the Opportunity: GBPJPY Sell Signal Unveiled! 📉🐻Traders, get ready for a thrilling prospect as we uncover a compelling bearish setup on GBPJPY, observed on the 1-hour timeframe. It's time to harness the power of a megaphone pattern and capitalize on an accumulation of sell orders, presenting an ideal opportunity to go short when the neckline (lower structure) of the pattern is breached. Our trading journey begins with the recognition of a megaphone pattern, characterized by widening price swings. This pattern signifies an accumulation of sell orders, indicating potential downward pressure on the GBPJPY pair. Keep a close eye on the neckline, as a breakout could trigger a strong bearish move. As we navigate this setup, it's important to identify key levels. A minor resistance lies at the 170.000 level, presenting an opportune moment to secure partial profits. However, our ultimate target resides at 169.000, reflecting our expectations for further downside potential. This level serves as a focal point for our bearish ambitions, offering an attractive destination for traders seeking larger gains. Let's delve into the increasing bearish momentum. Recent price action has revealed notable bearish candles, suggesting intensified selling pressure in the market. This trend, combined with the optimal entry point provided by the neckline breakout, sets the stage for a potentially fruitful trade. Now, let's add a touch of fundamental analysis to our analysis. The yen's reputation as a safe haven during times of economic uncertainty adds another layer of appeal to this bearish scenario. Furthermore, with the US approaching the deadline for its debt term on June 1st and the absence of an agreement to increase the debt ceiling, large investors and hedge funds may be inclined to short the GBPJPY pair as a strategic move. Therefore keep an eye on 171.000 level acting as a support now, and be ready to short when it breakdown Join me as we seize this opportunity, embracing the potential of the GBPJPY sell signal. With careful analysis and an understanding of market dynamics, let's navigate the markets with confidence and strive for profitable outcomes. Don't forget to press the like button if you think this insight was helpful 📉🐻💪
Short
by Thomas_Zito