Indecision Reigns: BTC Testing Crucial Resistance ZoneThe recent price action of COINBASE:BTCUSD shows a clear battle between buyers and sellers near a critical resistance level around 66,000. The price has struggled to break above this level, leading to a period of consolidation. However, the price has stayed within a tight range, reflecting indecision in the market. Although there has been some selling pressure, buyers have been able to hold the price above key levels, indicating that bullish sentiment is still present.
The recent candle patterns provide insight into this indecision. We’ve seen a mix of candles with longer wicks, indicating attempts by both buyers and sellers to take control, but neither side has dominated. This type of back-and-forth movement often signals that the market is waiting for a stronger catalyst.
Some candles show clear rejection from higher prices, suggesting that the 66,000 resistance level is being heavily defended by sellers. On the other hand, the recent green candles with stronger closes near their highs indicate that buyers are slowly gaining strength.
COINBASE:BTCUSD next move will likely depend on whether it can break above the 66,000 resistance or lose momentum and fall back to support levels around 62,000 short term, or 58,000 for medium term. A strong bullish candle breaking above resistance could signal a rally toward 70,000, while a failure to break through may lead to further consolidation or a potential pullback.
Pivot_points
NVIDIA (NVDA) - Bullish Momentum Fueled by AI RevolutionKey Fundamentals Supporting Bullish Bias:
1. Surging demand for AI chips driving record-breaking revenue growth
2. Launch of next-gen Blackwell architecture expected to outperform current offerings
3. Expanding market share in data center and cloud computing sectors
4. Strong cash flow and $50 billion share buyback program announced
Utilizing Probabilities for Long Positions:
As a trader, I'm leveraging probabilistic analysis to optimize my long entries on NVIDIA.
By combining fundamental analysis with probabilistic technical analysis, I aim to capitalize on NVIDIA's bullish potential while managing risk effectively.
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What's your take on using probabilities in trading? Share your thoughts and experiences in the comments below! Let's discuss how this approach can enhance our trading strategies.
Have a perfect trading week! 🚀
Why Now is the Time to Go Long on USDJPY: A Trader’s PerspectiveCurrent Fundamentals:
-Diverging monetary policies: The Federal Reserve maintains a hawkish stance, while the Bank of Japan continues its ultra-loose policy.
-Economic growth disparity: The US economy shows resilience, outpacing Japan's growth rate.
-Interest rate differentials: Higher US yields attract capital flows, strengthening the dollar against the yen.
I'm employing probability-based analysis to enter long positions in USD/JPY.
Let's discuss what's going on with USDJPY!
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EURAUD : Trendline Break RetracementThe pair experienced a strong bearish movement to break the trendline and reach the monthly support level. It now seems to be forming a double bottom on the lower tf before pulling back to retest the broken trendline resistance.
This retracement is a common price behavior following a trendline break and offers traders a valuable opportunity to enter the market at a favorable price point.
What makes this trading setup even more compelling is the confluence with the monthly pivot point. The broken trendline coincides with the monthly pivot, which often acts as a critical level in many trading strategies. This confluence adds further weight to the potential significance of this area as a resistance zone.
Given this setup, we may consider adding buy positions with targets at the broken trendline, coinciding with the monthly pivot, after which we can join the bearish sentiment, with the expectation that the market may continue its downward movement.
Trade Pivot Points and Parallel Channels with 3 PointsWatch for pull backs to the pivot point level. Next, use the parallel channel tool to determine entry points and exit points. In this example, connect two higher lows and one higher high to create a "potential" Parallel Channel. The intersection of the horizontal level and diagonal level with pin bar makes this special trade set up a high probability trade.
DESCENDING CHANNEL - Range Trading StrategyHello my Fellow TraderZ,
Today this is not any Trade idea but a TUTORIAL on how to Trade the RANGE or the CHANNEL.
This is simple, safe, profitable and straight forward Price Action strategy.
Here we are taking the chart of US Govt. Bond 10Y-yield. This is the perfect setup of DECENDING CHANNEL on MONTHLY chart. No time bound you can trade at any TIMEFRAMES, but Higher Time Frames are more reliable.
You see, to draw any Trendline we need minimum 2/3 touch points.
Whenever the price touches the Trendline, never open any Trade in RUSH, wait, see the kind of candles forming at Touch Points (at LOWER TL = BULLISH PA, at UPPER TL = BEARISH PA). PA = Price Action. This should be coupled with the VOLUME.
Notice the S/R areas, where price gives multiple hits before bounce or rejection. This will give you extra boost as these horizontal S/R are more reliable than Dynamic S/R. Also these areas could be your Pivots to make ENTRY(incase price doesn't hit the channel Trendlines) or TP Targets.
Look at the Percentage(%) wise gains simply following the channel(BUY THE LOW, SELL THE HIGH). Well I've just mentioned the BUYS, you can add the short positions also.
Until the price is in channel you can take Multiple Trades both LONGing and SHORTing the market, unless the channel Breaks. This is the beauty of Range Trading. Similarly you can trade ASCENDING CHANNEL/WEDGES as well.
NOTE : PRICE ACTION is majorly important in the Game of Trading.
If you like this content, kindly give a FOLLOW & BOOST to me. Also COMMENT to bring more such #educational contents.
Sorry if its a bit Lengthy post.
Happy Trading . CHEERS!!!
Nas100, awaiting opportunities after relief rallyG'day,
Breakdown:
1. Note
2. Contents
3. Research breakdown
4. Education recap
5. Information on Lupa.
A note before reading - this is a forecast analysis - based upon our trading strategy. This is tagged Short, until the opportunity for a close reaches the profit taking zone. This will be activated as long, short term longs are activated to note. Overall, where an imbalance is formed and sellers have completed the changing of hands due to purchasing further increments the exhaustive sellers.
Please do not take this as face value and conduct the relevant investment strategy to successfully trade the probabilities. However, note, at current we are awaiting confirmation of a Bearish move.
Master Key for zones
Red = Three Month
Blue = Monthly
Purple = weekly
Orange = Daily
Risk Warning
Trading leveraged products such as Forex, commodities and CFDs, carries with it a high level of risk and so may not be suitable for every investor. Prior to trading the foreign exchange, commodity or CFD market, consider your investment objectives, level of experience and risk appetite. You should never risk more than you can afford to lose. If you fail to understand or are uncertain of the risks involved, please seek independent advice and remember to conduct due diligence.
Fresh level mark up analysis provided from Monthly to Daily,
Monthly
Fresh level created on market top/ all time high
When a fresh supply is confirmed on the daily, weekly confirmation allows the distal and proximal line to be created.
Await the confirmation to tail off with an inside bar, falling three method or rising (ascending) wedge pattern forms.
The main aspect here is to understand the probability of the fresh level, signifies the bullish structure is phasing, phased out. Now a risk-adjusted probability of confidence >95% shows a fresh zone and structure left using the curve provides clear points to hold to for profit zones and or new accumulation orders.
Weekly
Price has reacted on a first tap - upon a fresh level which is half way down the structure - pointing to the weekly, monthly zone.
As a FL/OL - the first tap upon the zone will be a highly probable bullish zone as it's a fresh arrival to the destination, allowing buyers to fuel the buying orders awaiting.
The steap weekly curve has now been broken, where price will fuel an intra-channel move towards a PCP level, where price will react at a former hurdle weekly supply - creating a range (noting) the market is still in control to the downside. - Fresh supply, remains heavy sell orders.
Daily Chart
Weekly curve has been broken (using the daily curve line)
Upon a broken reactive test of the zone shows a perfect rejection and lower low retest which aligns with (November 2020).
Now with letting price react over two, three days allowing confirms to break the zone and re-test said zone. Upon a retest, the distal line is now clearer and the risk-adjusted trade can be input for long opportunities.
Where next?
Probable range - upon strong supply and fresh zone.
Weekly hurdle will be broken?
Probability of this fresh zone, unlikely, but not impossible with confirmations.
Do you enjoy the setups?
Professional analyst with 5+ years experience in the capital markets
Focus on technical output not fundamentals
Focus on investing for long term positional moves
Provide updates where necessary - with new updated ideas tracking the progress.
If you like the idea, please leave a like or comment.
To all the followers, thank you for your continued support.
Thanks,
LVPA MMXXII
EUR/JPY: bullish momentum to the upsideEuro/Yen Japanese it's look bullish in this side. Right now, we see that EUR/JPY made this break-out of this little symetrical triangle and then, we would need to hope a possible pull back at $134.28 JPY what it's recommend to add an alarm in that price $134.28 JPY to being informed when price hit the alarm. So, from this perspective I see a long position.
This it's the H4 timeframe and we see a long position what EUR/JPY could to make reaction to $135.78 JPY
And to watch, in Daily timeframe we have a key zone of demand in this yellow zone around $133 JPY with possible chance to go up.
I hope that this analysis support you!!!