USDJPY SELL SET UPThis pair has an interesting set up, the price is on a downtrend for the past weeks, making Lower Highs and Lower Lows, right now the price is on a converging bear zone with a strong daily resistance, a .50 FIB level, the descending trend line. To enter a trade, we will wait to see a bearish candle or chart pattern on a lower timeframe.
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Multi-timeframe
NZDUSD Big Short Opportunity ComingNZDUSD has been in a widening wedge pattern and has formed a shooting star candle on the daily timeframe. These are both signs of a reversal. Multiple confluence list:
1. Daily shooting star with 3rd test of trendline
2. Daily RSI overbought with 4 Hr RSI bearish divergence
Entry around 0.66150 with stop above high at 0.66450. TP1 0.65550 TP2 0.64550
This is for educational purposes only. This is in no way intended to be financial advice. I am not a financial advisor.
Bitcoin: only a small rally, not turnaroundStill bearish on Bitcoin for the broad picture.
4H pin bar formed after a wild rally last night from 6800 to 7500. When there're too many shorts, a bounce justifies forcing the bearish side to liquidate their massive short positions. The overall trend is still down.
For the technical part, daily RIS is turning up but on 4H chart, RSI has reached over 60. I believe the daily RSI will still wander below 50 for a long time in that no major break out volume take place.
NZDCAD Ascending Channel Counter-Trend StrategySTRATEGY: NZDCAD Ascending Channel Counter-Trend Strategy
DETAILS
Long Term Trend Time Frame: 1D/4H
Focus Time Frame: 4H
Entry Time Frame: 1H
Market Condition
Long Term: Downtrend (based on 1D TF/200EMA)
Short Term: Uptrend/Consolidation (based ion 1D TF/10EMA and 50EMA) inside Ascending Channel
CHART PATTERN: Ascending Channel
Area of Value (AOV)
RESISTANCE
Static: 0.85201 - 0.85075
Dynamic:
83EMA: 0.84701
100EMA: 0.85002
SUPPORT:
Static:
Minor: 0.83774 - 0.83683
Major: 0.83385 - 0.83158
Dynamic:
- 10EMA: 0.84220
- 50EMA: 0.84146
ENTRY TRIGGER(s):
1H: Bearish Engulfing
4H: NA
1D: High Momentum Candlestick going to Resistance
Entry Price (EP): 0.84759
Stop Loss (SL): 0.84953
Take Profit (TP): 0.84059
RRR: 4.02
ANALYSIS
1D - Overall trend is showing downtrend based on 1D TF - 200EMA. Heikin Ashi is still uptrend but the price is currently struggling to break above resistance level of 0.85201 - 0.85075. It is also supported by 83EMA and 100EMA which act as Dynamic Resistance.
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4H - Looking at the 4H TF, we can see that Price is moving on an Ascending Channel. Short term trend showing uptrend which is supported by Heikin Ashi. However, as stated before, the price is currently struggling to break above Static and Dynamic Resistance on a higher Timeframe (1D). We will give more weight on a higher timeframe as Smart Money focuses on this time frame.
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1H - Our Entry Triggers are always on 1H TF. Here we see that there's a Bearish Engulfing Price Action happened on the Static Resistance AOV. This acts as our Entry Trigger.
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www.tradingview.com
OTHER ENTRY REASON(s):
High Momentum price action approaching resistance usually reverses as it has no higher highs to support its move.
ACTION ITEMS:
1. Exit/TP on Higher Timeframes: 4H or 1D
2. Scale in on Entry Timeframe (1H).
IMPORTANT:
Always move the SL on Breakeven after significant move.
Scale in as necessary and move the TP of the initial entry to the SL of new entry. This way, we will be able to Minimize risk and Maximize potential Profit.
NOTE: This post is for my reference/journal purposes only. Trade at your own risk.
AUD USD AnalysisFrom the daily chart
Bearish engulfing candles followed by Pin Bar.
Rejection from 61.8 level.
Divergence is evidence on Stochastics.
From the 4 Hr & 1 Hr
Divergence evidence on both Stochastics and RSI.
Tripe top has formed and unable to break above the 61.8 level.
Risk Reward
Based on a Sell entry when price breaks out of the consolidation box and assuming a stop loss at the top of the box then;
1:3 is possible to the bottom level of structure.
1:5 is possible to the bottom of the 61.8 level leg D
USDCAD Multi-Time Frame AnalysisANALYSIS
1D: 1D Time Frame showing Downtrend. Price is approaching 50/83/100EMA which could be a potential dynamic resistance.
4H: Looking at 4H Chart it is currently on sideways approaching minor resistance.
Action Items
If price broke above minor resistance, wait for pullback then go LONG, targeting at least 1.32822.
If the price bounced or faked-out of resistance, go SHORT targeting at least 1.31357.
Note: This is my personal analysis only. Trade at your own risk.
#bitcoin - 3D, D, H4, H1Good morning Traders,
let´s have a quick look at our trading-range today. The little pump yesterday has given a lot of people a little heart-attack cause they feared they will miss out the pump up to $ 12 k or higher.
Some facts straight, if you look at the Daily chart it becomes clear where we are stuck at the moment and why. Not only the price is ranging between two important MA´s (100 and 200), it is also stuck between the Monthly and not very well
known Quarterly Pivot, that has been major support for the recent intra-consolidation descending triangle.
So? Have we produced something major bullish yet, that justifies a swap from swing-trading and low-interval scalping to hodling? The answer is no.
We need to leave this range between $ 9 k and $ 9.75 k and break that P-Q AND the trendline in order to be able to go more over to the green side.
Watch those levels and take what is given in between until the big move happens (unfortunately either direction is still very possible).
Also to mention: We are stuck in the 3D Cloud and yesterday´s try to escape the Daily, failed so far.
Happy trading.
Neru
EURAUD - triangle set upFX:EURAUD on Daily time frame has been largely in a sideways market for a long time and has now moved into a triangle set up, approaching the climax. We have seen in the previous analysis on H4 charts that price sitting below the 50 period moving average and chart showing a descending triangle formation, more likely a short setup, awaiting price action
In the daily chart, price seems to sitting just below the 50 day Moving average and looks like a Doji formation with a red candle so far, need to wait for market close to loo at the final candle formation.
ADX DI indicator shows currently DM+ is above DM- which indicates upward price movement, however ADX that measures the strength of current trend indicates the trend is till weak, also adding the support to current candle formation of a Doji.
In effect, to sum up, sideways daily time frame market with weak positive trend and a H4 chart with descending triangle, short set up likely
Please see link below for the analysis for H4 chart for your reference
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Cheers
EUR/NZD - Possible Target In Case Of A Bullish Breakout*** DISCLAIMER ***
Any and all commentary, research, analyses, or other information published by me on this website are provided as general market commentary, and do not constitute investment advice nor a solicitation and there are no guarantees associated with them. I am not liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
****************************
The trend on the daily chart still seems bullish, so the next target for the price could be the resistance drawn on the monthly chart.
Obviously I won't take this trade blindly, but I will wait for the retracement of the bullish breakout, the optimal confirmation for me would be an engulfing pattern on the 4H TF.
Can Bitcoin Reverse From This Double Bottom?Bitcoin has just retested the Demand Zone for the second time with a strong price activity.
A Medium Term Bottom may be here.
Time to retest the upper Resistance of 8200 - 8500.
Indicator:
9 Seasons Rainbow Multi TimeFrames Pattern
Signals:
1 Blue Ribbon (Strong Support) in about 6H timeframe, appears in the same level as the previous Blue of Sep. 27
If Blue becomes Purple, the support is broken.
I appreciate your like or comment. Welcome to share your idea here.
PM the author for trial of "9 Seasons Rainbow Multi TimeFrames Pattern".
DISCLAIMER
This is only a personal opinion and does NOT serve as investing NOR trading advice.
Please make your own decisions, carefully assess risks and be responsible for your own investing and trading Activities.
CHFGBP Continues the Trend Long TradeSymbol: CHFGBP
Timeframe: 1H
Indicator: 9 Seasons Rainbow Multi TimeFrames Pattern
Signals:
Short Timeframes: 1H: Red -> Green
Medieum Timeframes: 8H: Blue
Long Timeframes – Context: Green Series
Other Signal: Inverse Head & Shoulder. Structure Support
SETUP: Wait & Long Bullish Breakout the neckline
ENTRY @ 0.8359
SL @ 0.827
T1 @ 0.847
T2 @ 0.855
I appreciate your like or comment. Welcome to share your idea here.
PM the author for trial of "9 Seasons Rainbow Multi TimeFrames Pattern".
DISCLAIMER
This is only a personal opinion and does NOT serve as investing NOR trading advice.
Please make your own decisions, carefully assess risks and be responsible for your own investing and trading Activities.