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ENSUSDTHi, I hope the coming week will be a profitable week (: The price is moving inside a descending channel. If we ignore the triangle pattern, considering the yellow range and the type of previous movement (inability to enter the $10.817 range), we should have a reaction to the $9.733 range. I prefer to close 75% of my sell trade at the $7.364 price range, but I can't ignore the triangle target, so that leaves 25% for that range. Be sure to share your comments with us
Short
by FiboTech
4
BTC PERSONAL ANALYSIS IN THE SHORT TERM (UPDATED)The total evaluation for the BTC chart is bearish. Please be reminded that the price movement displayed is evidence of a previous cycle from where we got rejected at 30-32k range, you may use that as a reference on a separate browser while comparing the two. Before listing my reasoning for the bearish price action, here are the possible edges that you may use as valid factors for maintaining your shorts: The impending doom for the overpriced housing market and its highly potential crash The Pandemic that has still caused multiple variant to remain challenging since 2020 and has not been given an epidemic-endemic status. The Russian-Ukraine War that has yet to be resolved and would likely not be in the longer term until Putin's goal is accomplished. The consistent strength of monthly negative Consumer Price Index reports showing increasing amount of inflation. Increasing amount of Rate Hikes by the FED to challenge inflation (Possible 100 Point Rate Hike) ------------------------------------------------------- Now that the macro-economic factors are listed, let me explain to you the price action shown above. A descending triangle is formed in any timeframe specifically and advisably in the 1H-4H timeframe and the 12H-1D timeframe, such pattern is usually a slow consolidation to the downside with a potential breakout to the upside at its latter. This is confirmed pattern to be used due to the "WEAKNESS" displayed every time we are nearly approaching the 22-23k$ region. The price level was rejected previously on June 16 followed by a daily candle rejection on June 21 and as of today's price reading June 26, the price is displaying significant amount of indecision and lack of volume which is manifested into a "Doji". The red daily candle doji is displayed slightly below the highest peak of yesterday's price action which was at 21,599$ instead of closing higher to confirm a bullish bias. A weakness on the trend due to indecision is a warning sign for a potential sell-off back to the previous support of 20,700 to a potential temporary bottom of 20,000$, after that it is followed by another re-test of up to a maximum of 21,200$ being confirmed as resistance (TRIPLE TOP) and sending it down in a staircase-like manner to a maximum temporary bottom of 19,600$ which will serve as support similar to the 29k region. After that, it will now enter a consolidation pattern from 19,600 to 20,800$ for a while until it breaks out to the upside to validate the descending triangle. The breakout to the upside will ultimately be a disbelief rally, a showcase of a desperate attempt to get out of the bearish bias which is also what we call a manipulation wick by market makers to grab liquidity out of a tight consolidation. It will most likely break tremendously beyond the 21,600$ (which was the the price for a double top) and reach a maximum of 23,800$ but not more than 24,600$, anything beyond 24k is a definite short given the fact that there are no positive fundamentals behind the pump (e.g. Lowered Inflation, Lowering Rate Hikes, Pandemic to Epidemic Status, War stopped, etc.) The manipulation pump wick will most likely bottom out the same price at which it pumped from for days and it will be on a stair-case pattern building market structure to the downside which will give time for moving averages on the daily timeframe to cross over at its end confirming a breakdown towards the previous support (17,000-18,000$). ------------------------------------------------------- F A Q S Question 1: What are the possible invalidation points? Answer: A descending triangle pattern is completely invalidated if we get a volume pump up until 24k which is a temporary short level and will most likely use 22k as brand new support for further legs to the upside. This completely validates, on the other hand, the Reverse HnS. Question 2: Are dojis entirely reliable? Answer: They do not indicate a definite move, but they help shape your decision on the gravity of the trend especially if it has been previously rejected in daily timeframes. In this case, it shows weakness potentially decreasing chances a further bullish move since it is not supported by a decent amount of volume. Remember that even if it goes up to 22k, it doesn't confirm anything until it hits 23,200$ or 24,000$. It will most likely just warrant itself a HnS pattern or a quick liquidity grab of stop losses above 22k but not more than 23k. Question 3: Do you use any other indicators to help confirm this pattern? Answer: Definitely. I use the Relative Strength Index, Volume Profile, Bollinger Bands, and the MACD. In the RSI, we are definitely oversold in the macro timeframe but this is often a lagging indicator and does not constitute ripples from minor timeframe that could escalate its way up to the larger timeframes. In higher TFs (at least 4H), we do not see any strong momentum on the bullish bias, it is just in the middle of the index indicating neutral pace. The MACD on the 8 hour, 12 hour and daily timeframe are unreliable as they are lagging significantly, ,the 4H timeframe shows a HnS on the buying pressure which ultimately favors the bears in the end. Question 4: Do you use leverage or margin trading? Answer: I do not margin trade, but I do futures trading and the way I use it is not based on a tight percentage ratio of risk-reward as I find it to be completely strict and not versatile enough to include other trading techniques such as hedging and would most likely cut off your potential profits or stop losses earlier. The true key for using leverage is to find moves with confirmation that there is a high possibility of you winning that trade with reference to past previous price actions, taking account fundamentals to inform your decisions and as well as ACCEPTING mentally and emotionally that you are risking this certain amount of money to get stopped at a reasonable level (trend turnovers) if in any case you are wrong. I abhor revenge trading. Thank you for reading and I hope you get a good short trade on this. If you do end up profitable on this move, do not forget to like, comment about your experiences and share to your friends! -Wamses
COINBASE:BTCUSDShort
by Wamses
2
ETH PERSONAL ANALYSIS IN THE SHORT TERM (UPDATED)The current evaluation for the ETH asset is bullish. Please be reminded that such evaluation is only from respected market structure and price action with previous references to supply and demand zones. The overall trend is still bearish, but there are several reasons for the bullish move that can be confirmed. Below are the reasons for this confirmation to the upside: ----------------------- BULLISH INDICATORS Falling Wedge Breakout Pattern Macro Rising Wedge Formation (Bullish Short Term, Bearish Long Term) Smart Money Futures are Bullish 4H Chart Timeframe reaches overbought region in the Relative Strength Index, there is a huge chance that the next indication of overbought levels will form a bearish divergence however this will be in a higher high price action. Daily Chart Timeframe is now forming a bullish divergence in the Relative Strength Index (this will fuel to 23k-25k easily if accompanied by neutral to bullish bias until the next CPI report/FED meeting this month). Decent Volume ----------------------- BEARISH INDICATORS Overbought Levels in the Relative Strength Index Forming Rising Wedge (not complete) DXY bullish If you liked the information above, please do not forget to share, like and comment. Thank you! -Wamses
Long
by Wamses
BTC PERSONAL ANALYSIS IN THE SHORT TERM (UPDATED)The current evaluation for the BTC asset is bullish. Please be reminded that such evaluations are only derived from market structure and price action with respect to previous support & demand levels as well as fundamentals. Below are the several key points to which I am convinced we are in a bullish rising wedge formation in the process of an eventual breakdown: -------------------------- b]Bullish Indications Descending Triangle Breakout or should be much more extended for a much larger timeframe. Falling Wedge Pattern Breakout which is the target is on the previous rejection level 22,000$ Bullish Divergence on the Daily RSI Overbought Levels in the 1H-4H timeframe which would indicate that the next wick of overbought levels should be in a form of a bearish divergence, but higher high in price action. In anticipation for the FED meeting and CPI report release this month, the prices will more likely be bullish up until to that point where we could see a potential breakdown. Neutral PCE Report Failure to break 18,600$ forming a double bottom formation on the higher-high from 17,600$. Smart Money Futures are bullish. -------------------------- Bearish Indicators Adjusted or Extended Macro-Descending Triangle (will be completely invalidated once we visit 24k) Formation of a Macro-Rising Wedge (still in the process) Overall Downtrend both Smart Money Markets and Crypto Potential High Inflation Report from CPI and increased rate-hike response from FED Exchanges such as Celsius, Voyager and Vauld halting withdrawals, deposits, etc. If you like the information above, please do not forget to like, share and comment! -Wamses
FTX:BTCPERPLong
by Wamses
BTC PERSONAL ANALYSIS IN THE SHORT TERM (UPDATED)The current evaluation for the BTC asset is neutral, however you can take advantage of a long position since there is a huge volume backing up the 1H-4H chart which means it can easily ripple its way to larger timeframes. Please be reminded that we are still not out of the woods yet, we are in a descending triangle in a macro-structure pattern therefore we can assume that the leg to the upside is just a formation of its right shoulder. Down below are the recommended investment strategies: -------------- LONGING You can take a long position at 19,600-20,000$ as a short-term scalp long up until to a maximum assumed take profit level of 21,500-22,000$. Since there are no significant fundamentals supporting this bullish move, you are only scalping with RESPECT to the overall downtrend. A retest to the 19.6k-20k region will serve as temporary support due to the volume influx of money coming into the market. There is a 40% chance that we will not break down from the first re-test. SHORTING You can take a short position at 21,500-22,000$ with proper confirmation of following candles. Please do not rush to get yourself to massive short positions with high leverage just because you BELIEVE its a HnS, the market today is very cheap therefore lots of money can easily move the market liquidating your shorts so be careful. The ideal point here is to take partial profits at 19.6k-20k since there is a low probability chance that it will bounce from there before dumping further. Set your stop losses to break-even then. -------------- FAQS a.) What is the overall general trend? Answer: Downtrend. b.) Can a HnS pattern be invalidated? Answer: Absolutely. However, since we are in a major downtrend and fundamentals in the smart money markets are dumping as well, the probability of a completion on the HnS pattern is very high. Just like in any other trades, we are only considering categories of low, medium and high probability trades. There are no ABSOLUTES. c.) Do you ever use leverage? Answer: Yes, however what keeps me in the game is risk management and being emotionally in control. For every trade I put, I am mentally prepared to lose it therefore I do not panic since I've already considered stop loss levels that serve as "confirmation" bias. You do not put stop loss very tightly, you have to put SLs on levels of confirmed trend changes or else you're just gonna be hunted down by market makers. Also, patience is a huge game changer. Everyone knows that. If you liked this update, don't forget to like, comment and share this to your friends! Thanks! -Wamses
BITSTAMP:BTCUSD
by Wamses
S&P redistribution patternHey all, I wanted to share with you guys what I think is happening right now in the stock market; by the looks of things, we're doing exactly what we did back then in the lead-up to the March rally and subsequent leg lower. My current belief is that we will nearly replicate said pattern ahead of making another leg lower in the stock market(many market-moving names are repeating as well); I expect that next week will have some choppy sideways action, but the subsequent weeks will be roaring higher. I warn you guys to avoid getting sucked in by FOMO at the top, even if we break through resistance at 416, as I firmly believe it is all a bull trap. Best of luck in your trading!
AMEX:SPY
by MichaelEugen1
1
SOL PERSONAL ANALYSIS IN THE SHORT TERM (UPDATED)The total evaluation for the SOL asset is bearish. Please be reminded that the price action displayed is quite similar to the previous updates in my profile ideas, but with considerable amount of differences involved. All fundamentals behind the market structure shown below are explained in the BTC and ETH chart. Thank you. Here are the analyses for the decisions, structure and trend below: ------------------ Pattern Analysis The asset itself has been developing a higher-high rejection from a very obvious point of past support now-turned resistance 40-42$ level and a breakdown to the 31-33$ is very likely to be expected. A right shoulder is also possible to show a re-test of that high just to confirm the failure to sustain any bullish bias sending the price to the original support down to 25-27$. There is a slight resemblance of a descending triangle, but the most likely pattern to associate the current market structure with is the Head and Shoulders Pattern. The HnS is normally a bearish pattern that is further amplified with negative fundamentals and low volume. An invalidation point of such pattern is when the current downturn towards 31-33$ has served as support for another leg up potentially breaking 40-42$, however it has to be supported with proper volume and fundamentals or else it would just be deemed as a manipulation wick for market makers to grab liquidity from stop losses and overleveraged shorts. ------------------ Wave Analysis The price flow of the structure projected is NOT RANDOM but is mimicked similarly to past previous references of such market structure behavior especially after a significant downturn. When the HnS is confirmed, the support around 25-27$ would most likely NOT be broken down very easily and just like our re-tests above, the support will now be continuously re-tested multiple times until a further breakdown is established. The reasoning for such higher edge of a breakdown is the negative fundamentals in smart money markets and as well as other crypto related issues (exchanges withholding funds, etc.) When we meet the support again, we will have a very tight consolidation from 25$ to 33$ until we break down. The 200 Day MA will possibly intertwine with the shorter moving averages at its tightest range and this is a potential manipulation ground for market makers to squeeze in either direction. A personal tip is to wait for confirmation on the breakdown or breakup before re-entering positions even IF the MAs fully crossed together. ------------------ Trade Analysis The initial short trade is shown to have a potential of up to 1:3 Risk Reward Ratio with the stop loss being the highest point of the HnS pattern which is exactly 43$. There will be 2 open short positions which 1 will be used to take profit as early as dropping to the 31-33$ region and another position that will be held until it drops to 25-27$. If in any case that the 31-33$ level has acted as a consistent demand level, you will not close your 2nd short position until it hits the original price you shorted from at break-even (no loss except for fees). You will re-evaluate your options then before entering the same short position again with the same target being 25-27$. The second set of short positions is shown to have a 1:2 Risk Reward Ratio with 43$ being the stop loss area and the first take profit level will be around the 25-27$ region with the latter being around 15-20$. The reason behind ignoring the take profit level at 31-33$ level is that will already have served as resistance. As I mentioned before, a consolidation pattern will happen at the bottom of the range before a further breakdown. It is carefully advised to not revenge trade at any cost nor do you overleverage beyond what you think you cannot afford to lose, the key to leverage is to prepare yourself mentally and emotionally on what you think you can tolerate to lose WITH RESPECT to your profit and loss calculations, liquidations, time tolerance and fundamentals. If you liked the chart above and the analyses provided here, do not forget to like, follow and share this idea to your friends! -Wamses
Short
by Wamses
USDCAD - FUNDAMENTAS WITH TECHNICAL LEVELS- DXY is currently at 104.105 LEVEL. The USD traded slightly lower with the MARKET RISK OFF in the last few days. Also, at present the CAD FEATURE is at 0.7725 LEVEL. However, CAD is a bit WEAK compared to DXY. Due to this USDCAD is becoming BUY. This is because the USD receives a POSITIVE SENTIMENT and the USD receives a RATE HIKE SENTIMENT. - USDCAD PRICE can be DOWN to 1.2732LEVEL before re-UP. After that the USDCAD PRICE can be UP again to 1.3189 LEVEL. The USD is slightly stronger at this time due to the MARKET SENTIMENT. The OIL PRICE applies to USDCAD, and the decisions made at OPEC MEETING will have the greatest impact on USDCAD. You can be a DXY UP from FOMC UPDATES today. So stay tuned for that.
by benny_marshall
ICICIBANK technical analysisNSE:ICICIBANK In ICICIBANK I used auto harmonic pattern to predict the market if u also want to use this then follow the steps: 1) open "indicator" and search "auto harmonic pattern" and click on it. 2) open "settings" and go to "style" and remove "table". 3) this indicator will automatically generate targets. And if u want to understand more then follow us and observe how we give targets and find levels:- 👇👇👇👇👇👇👇👇👇 If it breaks downward level (* 715* ) as you can see in the chart above, then our :- Targets :-- 685 , 625. Make sure that market may retrace after achieve target. For more such information stay connected with us.🤘🤘🤘
NSE:ICICIBANK
by ayushkumarshivaliya