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Multitimeframeanalysis

🔔 Bulls can regain 1.09 before Bear continuation Bull market structure has flipped bullish early in the week. 0:0 Monthly Timeframe 1:42 Weekly timeframe 3:22 Daily timeframe 5:04 4hr timeframe 7:30 Bearish Channel from last week 9:07 1hr timeframe The Market can do anything and it is always right. With that said, it's still okay to create a forecast. Looking at the way price respected 1.0853 Daily support level during Friday's NY session gives confidence for a relief rally. Also Friday's daily range was small compared to the rest of the week & it closed as a Doji. These are confluences and I'm using this critical thinking to arrive at possible scenario. If price fails to make it past 1.0883 1Hr resistance zone then we will likely retreat towards 1.0869 where there are (2) 1hr support zones. Otherwise I'm anticipating an early in the week push towards 1.089 4hr resistance zone and 1.09 which was weekly support level. 1.09 may now act as a weekly resistance zone since the weekly candle last week just closed below it. it may facilitate a selloff with this new week down to our next weekly support level 1.07
Long
by ShrewdCatfx
Ethereum Bounce @ Weekly Resistance Zone $1,915 🗞️The Monthly candle is a Doji candle and with Eth's recent rise has returned back to Break Even on the Month. I'm anticipating that we will have some trouble breaking the $1,915 Weekly supply zone created on the week of May 29th. Ethereum's recent rise of 17% compared to Bitcoin's 25% has been quite disappointing for a smaller market cap cryptocurrency. Although we have broken out of a recent Bearish channel, I can see price pulling back before heading towards medium term highs at $2,121. Additonally we can observe the 2 most recent daily candle's have are shooting star - like candles. The top wick's on each candle being larger than the body of the candle. A Coincidence that these candles have printed at our weekly supply zone $1,915? Bearish Monthly target for July is $1,660 Favoring Downside Because of Weekly Market Structure Pointing down. Target's through rest of June and July are Take profit 1 : $1,786 Take profit 2 : $1,730 Take profit 3 : $1,660 If Wrong, Firstly Cut losses short and the Bullish Monthly target for July is $2,121
COINBASE:ETHUSDShort
by ShrewdCatfx
2
Bitcoin's Dance- AI's PredictionFor Bitcoin's 1hr chart, the close price surpasses the 20-period EMA, suggesting a short-term uptrend. However, it lingers below the 50-period SMA, signaling medium-term bearishness. Interestingly, the long-term outlook seems bullish with the close price above the 200-period SMA. The daily chart contrasts this: Bitcoin's close price is under all EMAs and SMAs, indicating overall bearishness. Still, both charts have an ADX above 20, hinting at a strong trend, and the CCI remains bullish. This blend of indicators presents a complex scenario. Trade Recommendation: Considering the indicators, a trend-following LONG trade on a 1hr timeframe seems apt: Entry: Wait for a slight pullback and enter around 29351.96. Take Profit (TP): Aim for the 1hr resistance at 29459.77. Exit (Stop-Loss): Set just below the 1hr medium-term support at 29045.81. Given the proximity of the resistance, a fixed take profit is recommended rather than a dynamic trailing stop. Confidence Score and Explanation: Confidence: 3/5 The trade suggestion is moderate in confidence due to the mixed signals. The 1hr chart leans towards a bullish momentum, while the daily suggests bearishness. The approach is trend-following, banking on the short-term bullish signs in the 1hr chart. Still, traders should remain alert and adhere to the set stop-loss.
BITSTAMP:BTCUSDLong
by ForexPilot
Ethereum -> Buy Low And Sell High!Hello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Ethereum 💪 If we are looking at the macro view on the monthly timeframe you can see that Ethereum perfectly retested the 0.768 fibonacci level in confluence with the previous cycle high so everything looks like we are starting the next major bullish crypto cycle. With Ethereum once again retesting the weekly bullish trendline and also forming a continuation symmetrical triangle pattern I am just waiting for a bullish breakout before I then do expect more upside potential. The daily timeframe on Ethereum is currently bearish though so I am waiting for a breakout of the decending channel formation and a break above previous resistance and then the daily is also ready for a bullish rally. Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈 Thank you for watching and I will see you tomorrow! My previous analysis of this asset:
COINBASE:ETHUSDLong
by basictradingtv
34
Banknifty Intraday Levels 08/08/2023There is no momentum in the market right now, so if you see the market moving in a Channel, trendline or support resistance in a range bound market, take your trade based on that or avoid the market .If the market consolidates 15-20 min and closes the 15 min candle above 44900 BUY ABOVE 44900 TARGET-1 45040 TARGET-2 45120 TARGET-3 45250 45040 is a good resistance zone, if it breaks then there can be good momentum in the market, otherwise there will be a fall back from here and 44500 will act as support. SELL BELOW 44750 TARGET-1 44600 TARGET-2 44500 TARGET-3 44445 TARGET-4 44315
NSE:BANKNIFTY
by Mhveer
short it : NZDUSD Hello, traders. The support and resistance level of 0.620 may soon be reached by the New Zealand dollar, which is currently going through a correction phase. The trend is downward at the moment. Throughout this trading week and the one after it, we'll keep an eye on NZDUSD in case a selling opportunity appears at the 0.620 zone. We've launched a short position to meet with money and risk management standards, and we'll add more in the zone. Daily chart Weekly Chart
Short
by AliSignals
SILVER / XAG - WILL WE SEE A CORRECTION AFTER ALL?My analysis today deals with how the further course of our most popular precious metal "SILVER / XAG" could look. > The technical analysis and selected indicators, confirm the thesis of an imminent correction. = Why, that I explain after the introduction. The DXY / USD has a non-negligible impact on GOLD / SILVER, as the whole economy depends on its behavior. > Meanwhile, this seems to take run-up, for a final upswing, which could bring the precious metal under massive selling pressure. > Regardless of these selling pressures coming from the USD, SILVER has been somewhat caught at a very strong resistance, which foreshadows a falling price. In the following, the analysis goes into detail, so that the significant levels and areas are known to you. For this purpose, I have performed a "MULTI-TIME-FRAME" analysis, which refers to the higher time units (month & week) and thus makes the big picture visible. Normally all time units below "1h" are called noise, but even a - 1h-4h - analysis is of no use to you, if the knowledge about the big and whole is missing. > We traders know that no one can predict the future and that is exactly why you have to be prepared for all initial situations. > If the DXY should rise again, that means "BLOOD" for the traditional and crypto markets. > This creates dangers, but also opportunities - it is important to look at the big picture. > Which levels are RELEVANT, I have explained in detail in the following pages. Table of contents 1st part = INTRODUCTION 2nd part = TECHNICAL ANALYSIS = Monthly - Time frame = Weekly - Time frame 3rd part = CONCLUSION PART ONE "INTRODUCTION" After "XAG/USD" formed a top at USD 50 in April|2011, a strong sell-off has been unleashed thereafter. > This sell-off extended 9-years to the market peak of the Corona crisis, where we formed our current existing low. > After this significant low of 11.64 USD (level last seen in 2009), investor fear subsided and a massive 159% buy-in, to over 30 USD, happened. > Since this very extreme upward movement, the price corrected a little to compensate for this extreme. > In recent weeks, we have seen a very strong upward movement, which I believe is on the verge of a correction. = We are at the upper resistance line of a downtrend channel, which has been respected by the price since the top was formed. = The significant Fibonacci level of 0.618 (of the downward movement so far) was reached and tried to be broken twice without success. = The "DAILY" - MACD + RSI - both show divergences, which further strengthens the correction thesis. > Once you look at the DXY (USD index) at the higher time levels, the further sell-off in the Traditional Markets becomes even more likely. (My DXY analysis is linked below this post, for confirmation purposes). SECOND PART TECHNICAL ANALYSIS For the analysis of the higher time levels, I proceed according to the onion-skin principle. > MONTH - level > WEEK - level > DAY - level These are divided into > SUMMARY > CHARTS The charts are presented in logarithmic scaling, as the given information can be visually presented in a more harmonious way. (This also refers to Fibonacci levels.) 1st MONTH – Time frame SUMMARY The trend channel shown in the chart, in turquoise, was formed since 1971 and has been able to maintain itself as a legitimate trend channel since then. Its mid-trend line showed reactions when confronted and was respected by the market. > The price is in the area below the mid-trend line and had challenged it over the last few months. The trend channel shown in the chart, purple, formed since September|2020 and directed the downward movement since then. > The price is at the upper end of the channel and already shows weakness, which could end in a further sell-off in the channel. The trend lines drawn in the chart, in gold, formed in the 70s and turned out to be extremely good resistance or support areas. > The price bounced twice in the recent upward movement and is meanwhile moving towards the lower trendline. If we go into more detail about the "SUPPLY & DEMAND" zones, you can look at two "DEMAND" + "SUPPLY" zones on the chart. > The "DEMAND" zone 1, is WEAK = followed a weak movement. > The "DEMAND" zone 2, is VERY STRONG = followed a strong movement + has not yet been tested by the price. > The "SUPPLY" zone 1, is WEAK = followed a weak movement. > The "SUPPLY" zone 2, is MEDIUM STRONG = followed a weak movement, but has already been tested twice. The Fibonacci retracements should serve us as additional confirmation and have been taken into account in past movements (last decades). > FIB 1 | will serve as resistance should the price attempt another run up. > FIB 2 | are the possible targets, which would be feasible in case of a successful breakout. > FIB 3 | are the final resistance areas, which stand before a new rally. > FIB 4 | are the support areas, for a possible sell-off. > FIB 5 | are the support areas, for a very strong unexpected sell-off. Past highs and lows usually serve as resistance/support, one of which we have. > ALL TIME HIGH | 2011 > HIGHER HIGH | 2021 - Bullish Market Structure = Beginning > HIGHER LOW | 2022 - Bullish Market Structure = Confirmation Some levels of interest are in front of us, which in the last months + years, played a strong role for the market. > The most relevant at the moment - POI (24.25 USD) - represents an important mark already since the year 1980 and thus currently occupies a very strong resistance role. > The other POIs are by no means negligible and will play a role in the price development in the coming days, weeks and months. (Therefore, take your time and transfer the ones that are relevant for you into your chart). OVERVIEW CURRENT RELEVANT CHARTS XAG - Overall picture without POIs + without FIBONACCI . XAG - Overall picture without POIs XAG - Overall picture without FIBONACCI ATTENTION In the following time levels, I will only deal with the NEW, added elements. . 2nd WEEK – Time frame SUMMARY Besides the already mentioned trend channel + trend lines, more trend lines become visible. - These have led to reactions in the chart in the past and should therefore be kept in mind. The monthly "SUPPLY & DEMAND" zones are joined by others from the weekly view that coincide with other resistance / support elements. > The "DEMAND" zone 1, is VERY STRONG = followed a Strong move + has not been tested by the price so far. > The "DEMAND" zones 2+3, are MEDIUM STRONG = followed a strong move + combination with monthly demand zone. > The "SUPPLY" zones 1+2+3, are WEAK = followed a Weak movement. + Zone 1 covered by weak monthly supply zone + Zone 2 has no cover by monthly supply zone + Zone 3 is already too old to be a relevant zone. Nevertheless, keep in mind for possible intraday price action. > The "SUPPLY" zones 4+5, are VERY STRONG = followed a very strong move + they defend the past "all-time-high". As further Fibonacci additions we have two more elements: > Both newly drawn elements refer to a possible downward movement. CHARTS XAG - Overall picture XAG - Overall picture without FIBONACCI THIRD PART CONCLUSION "Silver: The gold of the little man " Why this saying could change in the next years / decades, you will learn in a future post from me. > Invest in physical silver (via investment coins = for example - Maple Leaf) that could change your life in the future and belongs in any portfolio. In summary, based on technical analysis, there are strong reasons for SILVER price to fall. > Since the price top in Jan|2021 - the monthly candles were dominated by bearish. > A possible breakout of resistance elements is not impossible, but highly unlikely. > The divergences in the daily RSI + MACD, suggest a bearish sell-off. For this reason, I assume a weak SILVER exchange rate and a strong USD and an accompanying bloodbath in the traditional and crypto markets. > Positioning after confirmation of this thesis = SHORT . If this idea and explanation has added value to you, I would be very happy to receive an evaluation of the idea. Thank you and happy trading! ZIEL IST DIE AUTARKIE | THE GOAL IS SELF-SUFFICIENCY
OANDA:XAGUSDShort
by ZielIstDieAutarkie
4
USD - IS IT KEEPING THE UPPER HAND AFTER ALL?My today's analysis deals with the fact that it could coming to an end with the correcting, and a further rise in the DXY is in front of us. > We traders know that no one can predict the future and that is exactly why you have to be prepared for all initial situations. > If the DXY should rise again, it means "BLOOD" for the traditional and crypto markets. > This creates dangers, but also opportunities - it is important to look at the big picture. > Which levels are RELEVANT; I have explained in detail in the following pages. TABLE OF CONTENTS - 1. Part = DXY EXPLANATION - 2. Part = TECHNICAL ANALYSIS = Monthly - Time frame = Weekly - Time frame = Daily - Time frame - 3. Part = CONCLUSION FIRST PART “INTRODUCTION“ The "DXY" indicator entered on September 28 of this year, the first time since May 2021, in a downward correction. > On this day, I published an analysis, which dealt with a possible top in the DXY. > This forecast turned out to be a precision landing on the day and is to till now the TOP. (My analysis is linked below this post, for confirmation purposes.) To help you understand the relevance of the "DXY Index", let's take a closer look at it. The U.S. Dollar Index (DXY) is a ratio (index) that compares the value of the U.S. dollar using a basket of six currencies. > EUR = 57,6 % > JPY = 13,6 % > GBP = 11,9 % > CAD = 9,1 % > SEK = 4,2 % > CHF = 3,6 % EXPLANATION DXY > RISE One of the currency pairs falls > Pressure on other currency pairs increases = Chain reaction = All currency pairs fall DXY < FALL One of the currency pairs rise > Pressure on other currency pairs decreases = Chain reaction = All currency pairs rise So if you interpret the DXY correctly, you can get confirmation for ideas in other related currency pairs. SECOND PART TECHNICAL ANALYSIS For the analysis of the higher time levels I proceed according to the onion-skin principle. > MONTHLY - Level > WEEKLY - Level > DAILY - Level These are divided into > SUMMARY > CHARTS 1. MONTHLY – TIME FRAME SUMMARY The trend channel shown in the chart formed in May|2011 and has since maintained its position as a legitimate trend channel. Especially its mid-trend line showed many reactions and great interest of the market. > The price has reached this middle line and has already reacted positively. > The trend arc is another bullish signal and could serve as additional resistance in the future. If we look more closely at the "DEMAND" zone, we see that it has already been tested on. > The monthly candle closed above the zone, which is another positive indicator. > If we get another rise in the DXY, the marked "SUPPLY" zone, will serve as a very strong resistance and will be a real challenge. The Fibonacci retracement should serve us as an additional confirmation, and was taken under proof in past movements (last decades). > The 0.328 level, was breached without another reaction at this time level and the monthly candle closed below it. > Still pending is the next 0.50 level, which in combination with several arguments, represents a Medium-Strong resistance. > In the absence of a reaction from this level, we will see another sell-off to the 0.618 level. Past highs usually serve as resistance, of which we have two. > HIGH | 01/17 - Already showed a reaction > HIGH | 03/20 - Reaction still pending Points and levels of interest are available to us, which have a not irrelevant duration. > The most significant resistance is the marked POI ZONE (turquoise), with 50 years of experience. > We can be sure that there is great interest in this one. > This already proved true with a first reaction, but we must continue to wait for the candle close to confirm the argument. > If this is "temporarily" broken by a panic in the market, the POI at 102,000 points, serves as the next point of contact. CHARTS DXY – Overall picture DXY – Trendlines DXY – Supply & Demand ZONES + Market-Structure-Break DXY – Fibonacci + POI ATTENTION In the following time levels, I will only deal with the NEW, added elements. 2. WEEKLY – TIMEFRAME SUMMARY Besides the already mentioned trend channel, another one is now visible (violet), which was formed in May|2021. > Regardless of its inconspicuousness, it supports the tenor of the thesis. > It was respected and must prove itself again in the coming days and weeks. The additional "SUPPLY&DEMAND" zones join the two existing ones and remain untouched. As further Fibonacci additions we have: > A 1.618 level which was almost touched but is still pending to be worked off. > A 0.786 level which has been able to defend the last two weekly closes. > A 0.88 level, which in combination with the pending MSB, represents a strong resistance. CHARTS DXY – Overall picture DXY – Overall picture + Monthly DXY – Trendlines DXY – Supply & Demand ZONES + Market-Structure-Break DXY – Fibonacci + POI ATTENTION In the following time levels, I will only deal with the NEW, added elements. 2. DAILY – TIMEFRAME SUMMARY In the chart, further trend lines are drawn, which have shown reactions in the last 4 months. > These will represent resistances for a possible upward movement. Because so many elements are drawn in the chart, I would advise you to look again at the chart below, where you see only the S&D zones. > Some close together with the higher time levels, which reinforces their - resistance/support. CAUTION (Paler Zones) > The Supply zone, has been touched before and thus has less resistance. > The Demand zone, has been breached and thus should not trigger a major reaction, however it could still be "recaptured". In order to be able to forecast possible target ranges, we would first have to reach the bottom, which has yet to form. > The plotted levels can still change, but serve as a first reference point. > If the reached level already represents the bottom, one can see that the FIB levels, beautifully go along with the "Supply&Demand" zones. CHARTS DXY – Overall picture DXY – Overall picture + Monthly + Weekly DXY – Trend lines DXY – Supply & Demand ZONES DXY – Fibonacci THIRD PART CONCLUSION "The market makers only make money when everyone else loses. So what is the current mainstream opinion?" Run that question through your head and let me know in the comments what you think is more likely. > Another sell-off or a strong USD for now? In summary, based on technical analysis, there are a few reasons for a "temporarily" strong USD. > If you take a closer look at the area of the - HTF-POI-ZONE - you will see quite quickly that resistances could be enough for a whole arm. > Bringing this wall down will take more than one run-up, in my opinion. For this reason, I am assuming a strong USD and an accompanying bloodbath in the traditional and crypto markets. > Positioning after confirmation of this thesis = SHORT If this idea and explanation has added value to you, I would be very happy to receive a review of the idea. Thank you and happy trading!
TVC:DXYLong
by ZielIstDieAutarkie
2
Third-wave done | Correction wave aheadDaily chart Last my post about GOLD ( OANDA:XAUUSD ) reminded Reversal Pattern and it's completed. Detail: GOLD has broken up and out the neckline to complete the third wave at 1963.735 and it's happening fourth-wave I expect GOLD will down to around 1950 I marked it on chart 4H below Chart 4H TF Gold's in Ascending Channel and done second-wave what's sharp correction wave and fourth-wave I think it will be a combo correction wave based on Elliott Wave theory. Wait and see next move. I'll update
OANDA:XAUUSDShort
by trieutv