Price-action
CARDANO ENTRY POINTS! DAILY / ADAUSDTHere we have my two scenarios and entry points for a potential breakout from this wedge. Either we will continue to oscillate within the orange TC all the way to GZ or be prepared to see lower levels of 0.60s before going up. I really wonder what is going to happen to Bitcoin once we reach the top of the wedge that has been forming since 2014 on DXY. If we look at the correlation between BTC and DXY within the period of this formed wedge pattern, every time the DXY rejected the top trendline the Bitcoin spiked by 1000%. Cardano will follow. Please apply risk management. All these entries are spot orders.
Good luck all.
XAUUSD - Gold - Short - Wait for DevelopmentOn a HTF we have noticed a double tops which touched an all time high and signalled the beginning of a reversal of the price.
On a LTF instead we can see an ascending channel which may signal a correction of the current uptrend.
In terms of Resistance and Support, the price is situated above a channel delimitated by 2 important monthly support/res. If the price keeps dropping will mostly bounce on a 1906 support (1st target) with potential move to 1800.
Now we are waiting for the price to drop and to follow this downtrend. We will also need a confirmation/correction before entering a short position.
If instead the price breaks this formation on the upward and carries on rallying up then this forecast will be invalid and we'll wait for a reversal at the top of the structure.
Be patient and wait.
ONEUSDT market insights ONEUSDT has been showing a bullish market structure on 4 hr TF and 1hr TF by making a series of higher high and high low on which indicates a bullish market/trend.
The price has been trading in a channel followed by a bullish market structure / breakout and retest occurring in daily time frame.
Since there is time frame realignment on both daily and 4 hr and 1 hr TF. We are longing ONEUSDT
Long Position on the EURUSDIn the current price action, the buyers momentum are strongly Overcoming the sellers power. Witnessing a strong bullish trend forming with the price action. This position goes long on the Euro gaining strength with the current economy crisis in the Russian - Ukrainian feud. Strengthening the Euro as Demand rises.
A buy limit set at .10096
Risk Reward Ratio is going for a 1:2
We are expecting a retest on my trendline at my opening position then
Skyrocketing out of my resistance.
TP set at resistance zone.
USD/CAD potential bullish action...After monitoring the USD over the past few days we can see a final clear direction for many instruments as they pave the way to show the trends heading into this first quarterly year end.
USD/CAD here is look relatively strong overall with 1.3100 being a clear target to the upside over the coming weeks. As it stands on the daily and above the price action is showing strength around the moving averages and there is a strong Fibonacci setup on the monthly with 1.3100 being an extension confluence.
We will update this pair next week to see how it has performed.
Simple Trend Analysis…Works on Any time frameOur 20 and 50 EMA are looking like a potential crossing point and thus indicates bullish structure remains. I posted this one to show you all the basic way to spot a trend….higher highs and higher lows are bullish behavior. Very easy way to identify this is drawing “path” tool from lowest points to highest points as long as the next one supersedes the other whether looking at bullish or bearish trend.
Best of Luck Traders. Bitcoin looks like a huge payday coming up. About to cross the 100 EMA on the daily if this pump can happen soon! That’s extreme bullish. If you have feedback or comments let me know below!