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Multitimeframeanalysis

Yet Again Bitcoin! Failure to close above $30,715 🧟Looking for downside as we move into the next Daily candle for a few reasons. We have had 3 Daily candles back to back fail to close above $30,715 Daily Resistance which was initially created on June 24th. this resistance has held for nearly a week now after a 25% pump from the lows. In the short term it's fair to anticipate a bit more depreciation in bitcoin value. Bitcoin is currently in a range and has been since the 23rd of June. The price behavior has been alot less amusing than the prior week. Just yesterday after dipping into Daily support at $29,901 .. it only took about 15 hours before price ran 2.8% back to the highs. The high of the range $30,715 said " not today" and price still sits in the range. Price is currently in the top half of the range. I believe Inflation red folder news tomorrow during NY Session will help lead the way down and retrace back to at least our newest daily support level $30,085. At that point in time, if we get there, we will reassess. If we've entered the Fomo phase, why have we not continued pumping. Price is stalling at Medium term highs as the Monthly candle comes to a closure. As the new monthly candle opens in 24 hours, it will likely create a bottom wick before it attemtps to drive up. That is the idea for this retracement into the new monthly candle 1Hr Timeframe
COINBASE:BTCUSDShort
by ShrewdCatfx
Momentum from last week ↘️ // Eurusd what's cooking? 👨‍🍳We have a fair share of news events this week to shake things up. These news events will be a catlayst for a coniuation of momentum or the cause for a reversal in the short term here. Now the Monthly candle is closing at the end of this week and we must keep in mind that it is closing bullish. I don't anticipate this weekly candle to drop 222 pips but it's not impossible. The Weekly candle from last week closed bearish rejecting Daily Resistance Zone 1.098 and Weekly resistance zone 1.1024. The top wick rejection was larger than the body of the candle denoting a good amount of sell pressure on Eurusd. The Friday daily candle closed bearish taking out all the lows from earlier in the week. Ideally for this week we would like to see the previous weekly candle's bottom wick (Approximately 48 pips ) be filled with momentum carried over from the prior week. 1.09160 is a Daily and 4hr S/R Level and may act as an area for price to distribute and take us to lower prices. If price gets a close above there we have clean traffic back up to 1.09564 4hr resistance zone. Otherwise if price can get a solid candle close below 1.08845 4hr Support zone then we have a nice 30 pip clean traffic range to decrease back to the low of last week at 1.0848 4hr Zone. Downside target for week is 1.081 4Hr Support zone If wrong, then expecting a range and possible eventual increase back to highs at 1.09875 Daily Resistance Zone.
Short
by ShrewdCatfx
Momentum Points South 🐻 We can observe the 4hr candle jsut closed below 1.0882 4Hr support Zone. Price also doesn't seem to care too much about our Daily support level 1.08915. Price retraced during London Session and gathered some liquidity while touching into weekly level 1.094 before coinciding with a drop with better than expected USD news. Also upon the 4hr candle close, it printed an engulfing candle and a siginficant top wick. All signs are screaming more downside to come. It may be after a deeper retrace to around 1.0882 and 1.08915 area but probabilities suggest lower prices to 1.0847 4hr support zone. This zone also happens to be the previous weekly candle bottom wick that we are now going to fill with momentum leftover from last week? we'll see if we get the push and fill the 33 pip range with clean traffic to the left down to 1.0847.
Short
by ShrewdCatfx
Ethereum Short at the Lows 🏴 (More Risky) / Momentum ↘️This Short Idea begins at a 1Hr Support Zone & let me explain my thoughts. The Idea for the trade stems from the fact that the Weekly candle is Bearish. Daily candle is bearish. 4Hr Market Structure is bearish and descending away from our Weekly Supply level at $1,915 ( Published in a previous idea). We are shorting the breakout to the downside in anticipation that the Daily candle will continue to pull down into the close of the candle in 5 Hours. We have clean candles to the left /clean traffic on the 1Hr timeframe down to $1,816. 2 Ways to approach this. 1) Short at the lows anticipating volume to come into the market as we transition into the new daily candle. 2) Wait for a pullback to what was our Daily support level and may now because a Resistance level at $1,860$.
COINBASE:ETHUSDShort
by ShrewdCatfx
Double Top? -> ₿ $30,715 Price may appears to be struggling at our daily resistance Level $30,715. Price action appears to having a difficult time maintianing Bullish Market structure and creating a Higher High on the 4Hr timeframe. In our recent publishing we were anticipating a pullback as we transitioned into the new Weekly Candle. We got that as price pulled back to our nearest daily support level at $29,901. Can't expect much as a trader after quite the sizeable move from 24.5K last week.
COINBASE:BTCUSDShort
by ShrewdCatfx
2
The Cat Eye's a Retrace ? 😾 Or Dump CityOften times I can observe a retrace with London Session. Just as price did yesterday. My thoughts are a potential retrace to 1.09149 4Hr reiestance zone and some consolidation before another bout of Sell Side pressure. Price made leaps and bounds of progress to the downside during the last 2 sessions. I do not think the market is random. Nor am I trying to call a bottom. I am simply analyzing the behavior of this market as I have observed it for quite some time. Price is in close proximity to a Daily Support Level 1.08915 (6 pips away ) We have News tomorrow during NY session which I believe can be a catalyst to pullback a bit more before Inflation data during Friday NY may help provide a continuation of the preceding 1hr trend at that point. Towards the beginning of the week we were calling out a retrace to 1.0847. Idea was to do a Weekly Wick Fill as price was thought to have bearish momentum coming out of last week after a Bearish candle was printed ( With a larger top wick when compared to the body of the candle) We may see this scenario play out and we would like to see a break and retest after prices closes below 1.08820 on either the 1hr/4hr. Otherwise I observe a pullback for the time being.
Long
by ShrewdCatfx
2
💭 Daily Tf Key Level plays Important Role ( 1.0918 )This week 1.0918 Daily Support/Resistance Zone will likely play an important role in the direction of this week's price behavior. This was a Major Support during last week's price action may very well act as a resistance level for the new week's price action. The new weekly candle gapped up but at the end of New York trading we can observe a hold of 1.0918 Daily S/R Zone. We are currently in a tight range to begin the week between this mentioned level and the 4hr support zone 1.0886. If Sellers fail to hold below 1.09180 then entry upon break and retest above it with targets at 1.0958 4hr Zone and the previous week's high at daily resistance zone 1.0986. Otherwise with Sells here we may continue to anticpate momentum to return to the downside. Our weekly target for sells remains at 1.081. More Analysis : Started off the week taking Sells from our Daily S/R Zone 1.0918 . Earned +.5% on the account about after commissions. It turned out to be the high of the day. Being pro-active with your trading plays an important role in profitability. Trade where it is most uncomfortable and you will likely see your results improve. Not Financial advice this has been and will always be education.
Short
by ShrewdCatfx
A Volatile Climax in PricePrice did a break and retest above our 1.0918 Daily S/R Zone during Asian trading today and has increased 58 pips since then. The Daily candle reached within 9 pips of the 1.0986 Daily resistance zone formed last week. This return back to the topside of what looks to be a range forming now. Top of the range being 1.0986 Daily resistance zone and 1.08908 Daily support Zone. The NY 4hr candle dipped back to around 1.094 Weekly resistance level where it found support. 1.09435 is also a 1Hr support Zone that was created with the New York session 1Hr candle. 2 4 Hour candles have closed above 1.0957 4hr Zone. Maybe I'm just trading what I think but I prefer selling at these prices. My thoughts are that we are towards to the topside of what could now be a range as previously mentioned on the 4hr timeframe .
Short
by ShrewdCatfx
SPX500 to continue its upward trend?? (This is just what I think is going to happen. My analysis is not to be taken as fact, and I cannot predict the future for real.) So, I'm looking at the hourly chart here, but most of my analysis has been from the DAILY chart. I see current price is at $4,381.90, the highest it's been since the beginning of the year. Here we are at the halfway point, and SPX500, from what I see, is making nice gains. Price gone only gone up as far as $4,449.81 so far in the year (that happened on June 16th, 2023) but I think price will go up as far as $4,538.51 or further, by July 31st. I only say this because of the technical analysis I've done, looking at candlestick patterns and the candlesticks themselves. From the research I've gathered, I see that at the beginning of the year, price was at $3,801.93. SPX500 stock has since dropped back down, to its lowest point of the year at $3,811.89, only $9.96 away from where price began in January 2023. I also see major S/R zones around $4,110-ish through $4,190-ish. Last time SPX500 made a big move from that S/R zone was when on June 21st, 2021 when price made a bullish rejection using the bullish-engulfing candlestick pattern. Price skyrocketed as high as $4,820-ish, the highest SPX500 has ever been. Well, getting back on track, price rejected new support $4190-ish at the beginning of this month and it doesn't look to be slowing down. Maybe I'm wrong, maybe I'm right. Tell me what you see in the comments, or share your thoughts about what I saw. Feedback is appreciated :) xo, Mani
SP:SPXLong
by Mani_Trades
1
Ending of a Dramatic Week / Bitcoin ₿Quite the week for BTC. 1) A Buy Publishing was made last thursday at price $25,607 2) A Long Ethereum Publishing was made on Saturday at price $1,728 3) A Neutral Publishing was made on Tuesday at price $27,943 4) A Short Publishing was made Yesterday at price $29,318 Current Price is $30,177 BTC has been breaking zones to the upside and it is easy to understand that many players could be engaging in a chase with the market. I Choose patience and good Risk/Reward ideas over chasing the market and hoping that it will continue to rise. I can take a buy here but it's risky. Better to wait on a pullback. In the meantime I see good RR trade ideas. At the end of the day it comes down to the repetition of a process that has probabilities in your favor. And of course manging risk and cutting losses short when you are wrong.
COINBASE:BTCUSDShort
by ShrewdCatfx
Impending Volatility ☕ / EurusdThe Weekly candle has touched into 1.1012, only 12 pips from our weekly resistance level 1.1024. On the daily timeframe we can observe a bearish candle Shooting star rejection candle is forming and price is currently below our 1.098 Daily S/R Zone. On the 4Hr timeframe we can observe price having issues with the 1.0995 4Hr Supply zone. The 2nd London 4hr candle has just closed bearish with a top wick twice the size of the body. The new 4hr candle thus far has confirmed our bearish thoughts as it has pushed down 14 pips in the first 15 minutes. 1Hr Timeframe : Price retreated during asian session pre-london towards our Daily S/R Level 1.098 which I capitalized on. We then rejected 1.098 S/R Zone upon initial retest as I forecasted in my prev publishing. We ran the highs from asian session and price made it's way a bit higher before pulling back hard for New York session open. We can observe clean traffic going back down 1.0956 and this is what I'm looking for to play out with sell stops .
Short
by ShrewdCatfx
6
News Speeches Stir the pot 🕊️// Eurusd We would like to see the Daily candle close above 1.0945 as this will confirm a breakout to the upside. The candle at that point will close above the daily resistance zone created by last friday's daily candle. The idea is that we have momentum leftover from last week and will see the curretn weekly candle push deeper into the Daily/Weekly zones above. Wild trading day for me but besides that Eurusd has seen a resurgence of bullish volume that we were anticipating after last weeks Weekly candle closure. We were anticipating a continuation of momentum this week and I mentnioned in my previous Eurusd publishing that we may pullback and conolisdate early in the week as the markets sets up. The market needs time to gather liquidity before it makes significant moves. It does that by causing alot of volatility and commotion in the short term in order to get traders on tilt and stir up the pot. Moving forward I'm looking towards a retest of the extreme 1Hr Zone 1.096 and eventually an increase to the next daily resistance level 1.0982 during the next london session.
Long
by ShrewdCatfx
2
The Resurgence. A Fake-Breakout on Ethereum The Weekly candle suggests that it may be closing as a Hammer candle in 29 hours. In anticipation of this, we are anticpating more bullish volume as we move into the next week of trading. Bulls have carried price back inside our 4Hr Range on Ethereum. Price returned to the top of the 4hr range around 1765. We have since returned to the bottom of the range where I can observe a good reward/risk idea. This is known as a Fakeout or Fake-Breakout with regard to price action analysis. It occurs frequently in the market in which price will "Breakout" and candles close outside a range. Soon enough though, price closes back within the range after capturing enough liquidity from the other side. As a consequence we may see a burst of momentum going the other way. A useful belief that has served me well in the markets has been " Anything can happen" Therefore, have reasonable expectations and cut losses short and manage risk if the market doesn't go our way. 1708$ is our SL ( a 20$ Loss or -1R ) Take Profit 1 is 1765$ ( a 36$ gain or a 1.8: 1 Reward/Risk ) Take Profit 2 is 1805$ ( a 77$ gain or a 3.5 : 1 Reward/Risk ) Take Profit 3 is 1842$ ( a 114$ gain or a 5.7: 1 Reward/Risk )
COINBASE:ETHUSDLong
by ShrewdCatfx
2
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
Ultimate Catalyst : Interest Rates NewsWe saw our increase on Eurusd Halted after the Fed raised rates 3 weeks ago. Now we gain more information on the reasons for their decision. The market has had time to digest the rates and resulted in a substantial decrease for the month of May. We must now observe how the market reacts to their reasons for an increase in rates and the cost of money. Will the dollar continue it's momentum and we see a Eurusd decrease, or will Eurusd pivot bullish in the short term as it digests the Fed's reasoning's. Bear Targets for the rest of May and the month of June are - 1.06654 Weekly Zone - 1.05426 Weekly Zone Bull targets for the rest of May are - a return to Daily level 1.08725 Bull targets for the month of June are - a return to 1.1024 weekly level - a push to 1.14655 Weekly level
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
Creation of the Top wick / Weekly Candle / End of WeekThere are only two things that can happen on Friday's Daily Candle 1) Price may continue to create a larger weekly candle body or 2) the weekly candle will form a larger wick and retrace This week we are observing the latter Price is pulling away from the High prices created during yesterday's New York Session If the Daily candle closes beneath 1.0762 then we have returned back into the range and will be eyeing out potential short setups to begin next week. For Buys I would've preferred that we would have held 1.07615 Daily S/R Zone as we can see it played a key role in pivoting on 6/2, 5/19, and 3/27 Now we continue the range as far as Im concerned. We may pullback to the highs ( 1.0774 and 1.0786) early next week ( Monday/Tuesday ) then dive back to support at 1.069 Daily Support.
by ShrewdCatfx
USD/CHF: a multi-timeframe view. Where are we headed next?Today, we will examine USDCHF from a multi-timeframe perspective. Firstly, looking at the WEEKLY-timeframe chart on the left-hand side of the screen, it can be observed that the price has nicely rejected the key region of resistance aligning with the 50% Fibonacci retracement level identified from the massive Weekly TF impulses. Narrowing into lower-timeframe graphics, we may notice a preliminary triangle pattern that has been determined by connecting the recent highs and lows as portrayed on the chart. Furthermore, the upper boundary of the triangle nicely lines up with the 50% Fibonacci level of the recent impulse. Hence, if the price manages to reach the entry zone we have highlighted on the graph (0.9085), we will look into entering short positions and aiming for the region of support pictured on the Weekly chart (0.886).
Short
by Investroy
27