ADA - Quick 4hr chart updateQuick ADA 4hr chart update:
ADA is back in the Bullish Zone of the Ichimoku Cloud.
ADA is above its Volume Point of Control (POC) for this visible range.
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating short-term momentum is sideways.
The Ichimoku Cloud Base Line (Kijun Sen) is indicating mid-term momentum is upwards.
The Ichimoku Cloud Lagging Span (Chimkou Span) is indicating momentum is sideways with a slight slope downwards but be aware that it is a fast reaction indicator.
The Ichimoku Cloud Leading Span A (Senkou Span A) is moving upwards indicating we may get a Kum1 Twist where the Leading Span A (Senkou Span A) crosses back above the Leading Span B (Senkou Span B) creating a new green cloud which indicates bullish confirmation.
The Chaikin Money Flow (CMF) is indicating accumulation has risen with the CMF Line at 0.11.
ADA is in a Schiff Pitchfork Pattern (A,B,C), ADA has attempted to get back above the Schiff Pitchfork Median Line and has found support from the Leading Span B (Senkou Span B) cloud support so we may see another attempt at getting above the Schiff Pitchfork Median Line.
During the last few weeks, ADA has proven to be very resilient and also recovered from the dip way faster then most other cryptos.
I hope this is helpful with your trading and hodl-ing.
POC
Bitcoin Volume Point Of Control"Volume Profile is an extremely valuable technical analysis tool that is used by traders everywhere. The key to Volume Profile’s continued relevancy is its versatility. It is a charting tool that truly does have a wide array of uses. Unlike many other studies, there is little to no debate about Volume Profile’s usefulness. The data that is provided by Volume Profile is indisputable, leaving it to the trader to find new and creative ways to use it. Even though in its simplest form, it is a great reactive method for discovering traditional support and resistance areas, traders are still coming up with ways to chart the indicator in predicative or proactive ways."
"Example strategy
Just like with most other tools or studies, Volume Profile has a number of uses. There are many trading strategies out there using Volume Profile as a key component. Below are the basics of one such strategy which is based on comparing the current day’s opening price to the previous day’s Volume Profile.
-If the current day opens above the previous day’s value area (but still below the Profile High) look for price to retrace back towards the Point of Control and then proceed to rise (the direction of the day’s open). Therefore during the retracement to the Point of Control, there is a buying opportunity.
-If the current day opens below the previous day’s value area (but still above the Profile Low) look for price to retrace back towards the Point of Control and then proceed to fall (the direction of the day’s open). Therefore during the retracement to the Point of Control, there is a selling opportunity.
-If the current day’s opening price is completely outside of the previous day’s profile (above the Profile High or below the Profile Low) this can be seen as a possible runner in the direction of the opening price relative to the previous day’s profile range."
The Point of Control is represented by the red line on the chart.
Bitcoin - Sell In May & Go AwayLooks like a possible continuation triangle pattern with volume /distribution towards the top of the triangle.
ABCDE pattern could be completed with possible break down/continuation to the downside in the future.
Recent price action slightly broke out of the triangle pattern but it looks like that was to go up and touch the volume point of control which was around 37, 915.
Expecting more downward movement in the short/medium term.
EURJPY to rise from 2 week POCEURJPY is approaching a red dotted line that is a cumulative Point of Control from the previous week extending to this Wednesday.
Not only that this move is rather slow and correction-like-looking. The accumulation in this area is very recent and hasn't been visited before. Furthermore, it can be spotted without Volume Profile, the naked eye would identify this range too with ease.
I am fairly convinced it is a good long opportunity. I put preset take profit at the end of High Volume Node.
GBPUSD - LONGConsider the development of an North Impulse after a harmonic bullish pattern. The target is the supply zone.
GBPUSD - LONG
ENTRY PRICE - 1.38700
SL - 1.37800
TP - 1.40800
Please leave your comment and support me with like if you agree with my idea. If you have a different view, please also share with me your idea in the comments.
Have a nice day!
USDJPY - SHORTSell on false breakout and resistance Gann line! Expecting a Bullish Measured Move formation to the next Point of Control.
USDJPY - SHORT
ENTRY PRICE - 109.450
SL - 110.000
TP - 108.150
Please leave your comment and support me with like if you agree with my idea. If you have a different view, please also share with me your idea in the comments.
Have a nice day!
NZDUSD - SHORT ENTRY PRICE - 0.71490The price has reached the supply zone. Considering only the sale.
NZDUSD - SHORT
ENTRY PRICE - 0.71490
SL - 0.71900
TP - 0.70300
Always follow the 6 Golden Rules of Money Management:
1. Protect your gains and never enter into a position without setting a stop loss.
2. Always trade with a Risk-Reward Ratio of 1 to 1.5 or better.
3. Never over-leverage your account.
4. Accept your losses, move on to the next trade and trust the software.
5. Make realistic goals that can be achieved within reason.
6. Always trade with money you can afford to lose.
Please leave your comment and support me with like if you agree with my idea. If you have a different view, please also share with me your idea in the comments.
Have a nice day!
EURUSD - SHORT ENTRY PRICE - 1.18990Consider the option of EURUSD leaving the uptrend channel. The main volume is concentrated so far @ 1.18700. A strong impulse is needed to break through this level.
EURUSD - SHORT
ENTRY PRICE - 1.18990
SL - 1.19280
TP - 1.18230
Always follow the 6 Golden Rules of Money Management:
1. Protect your gains and never enter into a position without setting a stop loss.
2. Always trade with a Risk-Reward Ratio of 1 to 1.5 or better.
3. Never over-leverage your account.
4. Accept your losses, move on to the next trade and trust the software.
5. Make realistic goals that can be achieved within reason.
6. Always trade with money you can afford to lose.
Please leave your comment and support me with like if you agree with my idea. If you have a different view, please also share with me your idea in the comments.
Have a nice day!
AUDUSD – SHORT (LONG THERM TRADE) ENTRY PRICE - 0.78000The Bearish Wolfe Wave Pattern has been completed. Last impulse to the North has been exhausted. A strong South impulse has been appeared. It’s time to sell this pair as the long term trade!
AUDUSD – SHORT (LONG THERM TRADE)
ENTRY PRICE - 0.78000
SL - 0.81850
TP1 - 0.71600
TP2- 0.65900
Always follow the 6 Golden Rules of Money Management:
1. Protect your gains and never enter into a position without setting a stop loss.
2. Always trade with a Risk-Reward Ratio of 1 to 1.5 or better.
3. Never over-leverage your account.
4. Accept your losses, move on to the next trade and trust the software.
5. Make realistic goals that can be achieved within reason.
6. Always trade with money you can afford to lose.
Please leave your comment and support me with like if you agree with my idea. If you have a different view, please also share with me your idea in the comments.
Have a nice day!
NAS100 (LONG) Potential Bullish ContinuationHello Folks,
NAS100 has broken the bearish channel in a bullish zone near The POC 12790 zone where is expected to provide a new rebound after the retest of the broken structure.
This potential rebound from the POC zone could aim for higher levels which will form an upward continuation movement. (Plus a Potential EW count).
Let's see how it goes..!!
Good luck
GBPUSD - LONG ENTRY PRICE - 1.38650Re-enter for long trade. Stop level under Demand Zone.
GBPUSD - LONG
ENTRY PRICE - 1.38650
SL - 1.37700
TP - 1.40800
Always follow the 6 Golden Rules of Money Management:
1. Protect your gains and never enter into a position without setting a stop loss.
2. Always trade with a Risk-Reward Ratio of 1 to 1.5 or better.
3. Never over-leverage your account.
4. Accept your losses, move on to the next trade and trust the software.
5. Make realistic goals that can be achieved within reason.
6. Always trade with money you can afford to lose.
Please leave your comment and support me with like if you agree with my idea. If you have a different view, please also share with me your idea in the comments.
Have a nice day!
GBPUSD - LONG ENTRY PRICE - 1.39350The impulse to the North continues to develop towards the target in the supply zone 1.40800. The price passes the 1x1 support line.
GBPUSD - LONG
ENTRY PRICE - 1.39350
SL - 1.38700
TP - 1.40800
Always follow the 6 Golden Rules of Money Management:
1. Protect your gains and never enter into a position without setting a stop loss.
2. Always trade with a Risk-Reward Ratio of 1 to 1.5 or better.
3. Never over-leverage your account.
4. Accept your losses, move on to the next trade and trust the software.
5. Make realistic goals that can be achieved within reason.
6. Always trade with money you can afford to lose.
Please leave your comment and support me with like if you agree with my idea. If you have a different view, please also share with me your idea in the comments.
Have a nice day!
DOGE- Bullish reversal or Bearish continuation?This swing setup might be overly conservative, but given the uncertainty of BTC price and the complete lack of fundamental of DOGE. I tend to be extra careful when my swing trade has no chance of turning into the long-term holding.
Just my two cents. Not the trade advice.