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Multitimeframeanalysis

3 PHASES / FACES of XRPHi Traders, Investors and Speculators of the Charts 📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. As you all know by now, I'm a huge fan of XRP. The fundamentals are promising, and I've done a number of posts on these. Including: AND These posts cover the fundamentals and key concerns for altcoin XRPUSDT. However, if we take a look at the actual chart, it doesn't look great (in all honesty). Ideally, on any coin, you want to see growth. You don't want to see a continious return to lowest lows. Instead, like Bitcoin, you want to see higher lows over time and higher highs. Now one could argue this observation two ways : either for or against XRP. Which ever way you decide to argue, it's noteworthy to appreciate the simplicity of the market cycles occurring on XRP - Pump , Dump, and Consolidate until next Pump. We've recently seen a +30% pump, can you guess what comes next? I think the chart is self explanatory; in it's complexity, it's actually pretty simple : Buy LOW, sell HIGH. Don't be greedy, take profits. _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck
Short
by CryptoCheck-
37
Very possible we may pullback early in week --> 1.08 Daily LevelIt is possible we may continue to pullback early in week and continue to reject daily level 1.07425. We must consider every daily level, even when we have a medium to long term bias on an asset. I think we can continue to pullback to the previous daily zone at 1.07795 before we see sellers step in and put in their two cents. Also the weekly candle needs to pullback and create a top wick. We had a very steep dive last week which we caught on the sell side. The wick on the daily candle shows rejection at a Monthly support and resistance zone at 1.09. I Still like a Bearish outlook. We have inflation data this week, at the end of the week that is. I think by that time we will have solid trend, and consequently use cpi data for a continuation of trend on the 4hr which we can ride. Safe Trading.
Long
by ShrewdCatfx
2
EUR/USD: MTF perspective. On our way to new Higher Highs?Looking at the Daily timeframe graph on the left-hand side of the screen, we may observe how the price has nicely rejected a crucial area of support highlighted on the chart by printing a huge wick candle the tail of which has bounced off the 61.8% Fibonacci retracement level drawn from the beginning of the recent impulse. Zooming in and observing H16, H8, and H4 timeframe graphics, it can be noticed that the price has some imbalance to fill before continuing its upside movements. In other words, a solid bottom pattern should be formed before the price is able to push to the upside. Therefore, we are patiently waiting for the price to POTENTIALLY re-visit the area of support plotted on the graph and form some sort of a Double Bottom before going long and aiming for the target pictured on the graph.
Long
by Investroy
12
Favoring sells But sitting on Sidelines. Interest Rates⛔-->->EU I like the Risk to reward to the downside. However, and similar to Feb 1st Announcement, we could rip upwards to the Moon similar to first landing on the moon. We'll See what happens as we sit on the sidelines. Beware of position sizing during intraday scalping 1Hr after announcement. Which I have found typically to be the best time to trade surrounding news trading. Price is currently sitting underneath our 1.08 Daily zone. If we decide to move up our next target will be 1.08539 Daily Level. Other than that we have rather clean traffic heading up on the 4hr. If the market determines that pessimism is strong enough, we will respect our daily level here at 1.08, and leave a wick of liquidity catching breakout traders to the downside. Going down, I can observe us reaching 1.074 Daily level relatively easy once again. Anticpating crazy volatility here. Those are expecatations but we could be disappointed. Manage expectations. Safe trading.
Short
by ShrewdCatfx
Price keeps pushing up. Following MomentumThis looks like a very healthy uptrend on Lower timeframes. Printing a high and consequently pulling back, to breathe, before pushing up once more. Although and given the fact that we are still in a range on the daily and have been now for quite some time. The wicks on the few previous weekly candles have caught my eye after we failed to break below 1.0548 Last week. Holding a trade over the weekend was a good trading idea. Something I don't do too often. The momentum as the weekly candle pulled back on Friday of last week was very intriguing. Today, The 6am 4Hr Candle was a catalyst for a contiuation in buys. Something I called out in real time on my previous publishing. I updated the idea minutes before the 6am candle closed. Thanks for reading this far.
Long
by ShrewdCatfx
EURUSD Weekly Candle Pulling Back to end the WeekWe can observe momentum bullish here. An important candle closure to observe is the 10EST 4hr Candle close. The candle closed above 1.06650. This was the cl;ue and the tracks the market left behind/ . The last 15m of the 1Hr candle, that was this move up to the next rnage. The 4Hr is importnatn and means everything to forex traders due to the nature of various sessions in the forex market ( being open 24 hours/day) NY Session (Most Volume -Current as of Post Asian Session - Least Volume London Session - Median Volume Volumes moves into the market at specific and various times throughout the day. One only begins to understand the nature of volume with experience. it cannot be taught. Look at where the move occurs, where the big candle is, what time that big candle occurs at.
Long
by ShrewdCatfx
CADCHF, Bears to target 0.665 rangePrice action is shaping up for a sell opportunity as we can see a price is completing a bearish continuation indicating further downside is possible. Competition of this correction is also a 3rd touch on the upper trend line. Find a risk entry or a reduced risk entry that meets your trading plan Thanks Trade Safe **If you felt this was helpful in any way, hit the LIKE button and FOLLOW me for more analysis and education ideas** Feel free to share your opinion on this pair by leaving a comment below I appreciate all the feedback.
Short
by ktlfx
1
NZDCAD, Pullback to an area of value, look for sell entries Price action has pulled back an area of which we saw a strong impulse breaking downward from a strong structure level. Price has now retraced back to this area which we could see a nice sell opportunity. Wait for bearish price action and find an entry thst meets your trading plan. Thanks Trade Safe **If you found this idea helpful in any way, hit the LIKE button and FOLLOW me for more analysis and educational ideas** Share your view by leaving a comment below. I appreciate all the feedback.
Short
by ktlfx
EU Already up 90 Pips on week? beware of FOMO. After gapping up 40 Pips, then creating another leg up 50 pips Higher High to 1.07392 Daily Zone, I can see fomo kicking in. I think it's likely that we will see a harsh liquidity pullback to 1.06895 Daily Zone before a further bullish continuation on the week ( which just began! ) Already moved up 90 pips.. quite a move for EU during the first session of the week. Short term at least looking for fakeout during London Open (1st of the week). CPI on Tuesday, We'll see how the first few sessions of the week unfold here.
Short
by ShrewdCatfx
NZDUSD, Potential Short to Double Bottom Price action has been moving within a falling wedge structure which as we know is a reversal structure in nature. We may get another leg down to a double bottom area before price climbs up as we can see a corrective movement after a strong impulse this past week. I will wait to see if price is able to retest the upper boundary of the wedge structure to give a sell opportunity. Thanks Trade Safe ** If you felt this was helpful in any way, please like and follow me for more analysis and educational ideas ** Please share your opinion by leaving a comment.
Short
by ktlfx
1
EURUSD Struggling 1.05860. Previous Key level. We can observe that price is pulling back after fed speech caused us to fall off a cliff. This was expected. A Bullish Argument would be buy Daily Support as we reject 1.05428 and NFP data tomorrow will catapult us back up to 1.0646. My bias remains bearish because of the weekly timeframe. Price has corrected 40% of the move on Tuesday. If that is a deep enough retracement or not idk. What matters for me as a trader is good RR Ideas and operating off key levels.
Short
by ShrewdCatfx
1
headed toward multitimeframe long term resistancethis stock has exploded to the upside, retraced a decent consolidative amount, and taken aim for that high. there is a large uptick in the fair value calculation that makes this a strong bullish move. there are different scenarios. one is that we set a lower high on an overbought 4 hr level. another is that we go straight for the high and taper off, and the other is that we break the highs and head for the long term area high right over $34.
NYSE:AILong
by cerealpatterns
1.0633 and 1.0645 Eurusd. Clear Market StructureWe had Buyers use data to grab lower prices at 1.06. Time will tell if this is accurate. If we maintain market structure, In the short term, I see no reason why we could not touch 1.0645. I concluded this from previous daily close. 1Hr and 4hr candle closures must respect 1.06230 1Hr Zone. Price Currently is at 1.06237. Though considering price gapped down over the weekend by -.1% ,, it does not erase last daily candle closure. Bullish 36 Pip Body Candle. Idk seems sus considering previous bearish engulfing. We'll see. Riding Intraday Moves on EU requires flexibility.
Long
by ShrewdCatfx
1
EURJPY, Double Top Bearish Price actionEURJPY has been shaping up for a big sell opportunity as we can see price was rising within an ascending channel which impulsively broke downward forming a bearish correction. Double tops have been confirmed indicating more downside is possible. As we see many different target levels that price could test, it may take weeks for this sell to make its way all down. Take your profits as the market gives you, ensure proper risk management and exit criteria is implemented. Thanks Trade Safe
Short
by ktlfx
1
CURRENCY CORRELATION HEAT MAPCurrency correlation is important to understand in forex trading because it could impact your trading results often without you even knowing it. In this post, I will share some information about correlations in forex trading and how you are able to use it to your advantage to avoid unnecessary losses. Throughout my journey as a beginner trader, I have bought or sold 2 different currency pairs many times without knowing they are negatively correlated just to let the gains be offset by the other pair. My aim in this short post is to bring awareness about the positive and negative correlations between the currencies, specifically the most traded major pairs in the forex market. What is correlation in forex trading? A foreign exchange correlation is the connection between 2 different currency pairs. There is a positive correlation when 2 pairs move in the same direction, a negative correlation when they move in opposite direction, and no correlation if the pairs move with no relationship. In order to understand the relationship between 2 currencies, you must know the correlation coefficient and how it relates. What is correlation coefficient? A correlation coefficient represents how strong or weak a correlation is between 2 forex pairs. They are expressed in values and range from -100 to 100 or -1 to 1, with the decimal representing the coefficient. The higher the value of the correlation coefficient will largely reflect the movement of the other pair. See Figure 1. Correlation Heat Map For example, If the reading is -70 and above 70, it is considered to have strong correlation between the two. Readings anywhere between -70 to 70 means that the pairs are less correlated. With coefficients near the 0 mark, means little or no relationship with one or another. As traders, implementing risk management in our trading plan also reflects to correlations as you may think its a good ides to buy 2 highly correlated pairs thinking you will double your profits when in reality you may lose double the money as both trades could end up in a loss as you're doubling your risk. Figure 2 . Positive Correlation: EURUSD / AUDUSD As we can see on this line chart between EURUSD / AUDUSD, both pairs have a strong correlation coefficient as they are moving in almost the same direction. The correlation coefficient is valued at 75 as noted on the heat map. For example, if you place a buy order EURUSD and place a sell order on AUDUSD, expect a win and a loss in most cases. Figure 3. Negative Correlation: EURGBP / GBPUSD On this line chart, we can see that both of these parts are moving in opposite directions which are showing a negative correction between the two which in fact is also known as an inverted correction. The correlation coefficient is valued at -90 on the heat map which means if you place a buy order on EURGBP and a place a sell order on GBPUSD you may double your profits, but again you're doubling your risk. Figure 4. No Correlation: GBPJPY / USDJPY This line chart shows that both of these pairs move in the same direction with a correlation coefficient of -9 which has almost no correlation. If you place a buy order on GBPJPY and place a sell order on USDJPY, one of these trades will most likely end up in a loss. The pairs that have no correlation usually have different and separate economic conditions therefore coefficient values tend to be lower. In summary, understanding which pairs are correlated with one another will be able to help build your strategy and improve your trading results. Every trading strategy NEEDS to have Risk Management implemented in it as it is the key to sustainability for the long run. Trading is a marathon NOT a sprint. To learn more about forex correlations and their relationships, please see the following links. References: www.tradingview.com ca.investing.com If you felt this information was helpful, and hit the LIKE button and FOLLOW me for more educational posts and analysis. Feel free to leave a comment if you have any questions! I appreciate all the feedback. Thanks Trade Safe
UEducation
by ktlfx
12