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Priceactiontrading

GBPNZD | Perspective for the new week | Follow-up detailsWe experienced over 300pips run in our direction since my last publication on this pair (see link below for reference purposes). Now, it is obvious that a trading range has been hemming broadly within the N$1.93500/1.97000 since the emphatic breakdown of the Demand level late in the month of August 2021. At this juncture in the market, I shall be looking forward to a reversal pattern within the Supply zone at 61.8/78.6% retracement of the impulse leg to incite a risk of further decline in price in the coming week(s). Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Channel | Reversal pattern (retracement levels) Observation: i. Since the beginning of the year (2021), It has been a Bullish run for the Pound before hitting a peak @ N$2.00500 (between June and August 2021) - a zone characterized by a triple Top look-a-like. ii. This feat was later followed by a significant Breakdown of a Level that held price "supported" between June and August 2021 to allow a bias shift in favour of the bears in the coming week(s). iii. TRIPLE TOP: formation of three peaks moving into the same zone @ at approximately N$2.00000, with pullbacks in between is considered complete when the price broke down pattern support @ N$1.96000 on the 31st of August 2021, hereby indicating a possible further price slide in the nearest future. iv. Even as a Bearish perspective is building upon this pair, it is required that we sprinkle the tempo of opening a bearish position with a little bit of patience as we are yet to get a signal to go short. v. This been said; I shall be looking forward to a reversal pattern within the Supply zone around N$1.97000/1.989500 and this might share a confluence with a 61.8/78.6% retracement of the Impulse leg (Breakdown of Demand zone) to transition into a possible Harmonic pattern (AB = CD). vi. The early hours/days of the new week might see a price climb before inciting a further decline. vii. If a climb happens, I have identified a niche around N$1.97000/1.989500 for selling opportunities with confirmations right below the Key level @ N$1.960000 area... This is a volatile pair hence trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 300 pips. Risk/Reward : 1:4 Potential Duration: 5 to 15days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
FLM/USDT Analysis. Good opportunity s comming.On the FLM / TETHER chart on the daily timeframe we see the formed triangle. The main areas of support and resistance are also marked. The red line shows us the Point Of Control, this is a fair price area. We see nice point where come together POC+Daily TL. Good opportunity to take a long. When we switch to a lower time frame, the situation is clearer. Now you need to find out, on lower time frames, what's going on inside the candles and decide whether there is a good opportunity to buy or sell. I will discuss all the essentials with my students today and based on our Price action strategy we will look for a suitable place to enter. Of course, all the conditions of our strategy must be met in order to increase the probability of a successful trade.
Long
by UltimateCryptoTrader
1
What way for the start of the month?This pair made a decent push up on Friday and it's possible that it will continue in the short term? However I have my areas marked out and will trade in the direction of the market flow depending on when the markets shows it's hand. I'd like to see a short term correction and then a move up which will then complete the Higher Timeframe correction and then an overall bearish move. But as usual I won't even try and predict as that's no way to trade, plan the trade and then trade your plan.
G
by jp7fx
Ethereum is fighting hard now. Price action analysis.Ethereum is fighting on Pivot point support and level 0.618 of Fibonacci retracement. The main areas of support and resistance are also marked. The red line shows us the Point Of Control, this is a fair price area. When we switch to a lower time frame, the situation is clearer. Now you need to find out, on lower time frames, what's going on inside the candles and decide whether there is a good opportunity to buy or sell. I will discuss all the essentials with my students today and based on our Price action strategy we will look for a suitable place to enter. Of course, all the conditions of our strategy must be met in order to increase the probability of a successful trade.
by UltimateCryptoTrader
EUR bearish for now but bulls must be getting ready OANDA:EURUSD Hi guys , how you doing ? , I hop you're all fine EURUSD is now in the a descending channel The price also touching EMA which can act as a resistance So until now , we have 2 good and obvious resistances (EMA and the channel) Also the momentum is decreasing and getting bearish therefore it's logical to say that EUR gonna be bearish for short-term of time . But I not gonna enter the bearish move , I prefer to stay and enter with bulls at 1.16640 I hope the bears will lead the price to that target But for now it's bearish so that's my opinion . what's your suggestion and idea guys ? I'd be glad to know your opinion !
Long
by mahdirhimi
CRYPTOCURRENCY BITCOIN (BTCUSDT) SMALL PULLBACK BITCOIN ( BTCUSDT ) 30 minutes timeframe -> Inverted Head and Shoulder. A strong buying level when market is consolidating/downtrend. This indicates after long bearish trends, the price falls to a trough and subsequently rises to form a peak. It has taken support also from 20 EMA and a good green candle ready to make a breakout. RSI also supports it. It can do a retest on 20 EMA and then go towards the target. Only take entry when 15 min candle closes above 43219. First target - 44038. Book profits there or trail your stop loss for 2nd target 44500. Stop loss should be 42672.
Long
by raghav_tradeit