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Priceactiontrading

USDCAD, 1hr tf, HnS pattern in play This should be a very clear HnS pattern for you all to see. Also it looks like USD pretty much exhausted so we could see a retracement for major pairs first. If you draw fibonacci retracement, you will notice price holding at 61.8 fibonacci right now. In terms of Elliott wave, this is right now wave-(b). We could expect wave-(c) to continue going down from here. Sell USDCAD 1.2515 Stop loss 1.2600 Take profit 1.2300 (2.5R) Use only 1-2% risk Good luck
Short
by HayatoDragonFX
CARDANO is under pressure. Will it last or crack? $ADA AnalysisFrom the daily perspective of the ADA / USD chart, we see a strong trend line, which indicates a down trend. But when we look at the Fibonacci retracement of the last impulse leg, we see that the price is at the important level of 0.382, which is trying to break down for the third time. If the price falls below 0.382, the next level where the price will definitely respond is 0.618. This is where we will place our Take Profit if we open a Short position. The trend line and level 0.386 also created a descending triangle formation. 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. Today I will discuss all the essentials 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. We hope you will join us for the next trade.
by UltimateCryptoTrader
Binance Coin price broke important level! BNB/USD analysis.Binance Coin is located just above the very strong Support/Resistance level, which was created on the 11th of March. At the same time, we got over the formation of the triangle. At the moment, we have the opportunity for a Long trade. Simultaneously the price is above EMA 200 daily. On the other hand, we know that the formation of a triangle often has so-called "Fakeouts", which means that there will be a false breakthrough and the price will fall again. Now we 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. Today I will discuss all the essentials 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
XAUUSD, Daily tf, buy bullish inside bar setup I found an interesting setup for XAUUSD. As you can see i've marked the weekly horizontal support and resistance. We're currently holding above 1797 support level after breaking above it yesterday with a solid candle close. Notice that the last 2 daily candles are inside bar pattern. Today daily candle already break above the mother candle and this downwards movement looks like a retest of support for me. We're provided with 5R trade setup so i think it is worth to try this buy position. Buy XAUUSD 1797 Stop loss 1788 Take profit 1842 (5R) Use only 1-2% risk Good luck
FX:XAUUSDLong
by HayatoDragonFX
Polkadot falling to 14.200!! Price action strategy will help us.On the DOT / USD currency pair, I expect the price to fall to 14,200. At this point, there is a confluence of strong support levels and the bottom trend line. Now it is necessary to wait for the price reaction and then switch to a lower time frame because only from what is happening inside the subsequent candles we can determine whether there will be a rebound and the price will rise from around 14,200. After that, the space has to rise to values around 18,000. On lower time frames, we need to use the Price action strategy. Remember, without a strategy, your trading is gambling.
Short
by UltimateCryptoTrader
Cardano between two important levels. ADA/USD analysis.A strong upward move is expected on the Cardano chart. The reflection from the bottom trend line of the triangle really indicates the tendency for the price movement upwards. On the other hand, we are just below the strong price level, where we meet weekly Pivot point and daily Pivot point. This is not common and we definitely need to be careful. However, we will switch to a lower time frame and use our Price action strategy to find a suitable place to enter. We share all the details with our members and they will be the first to enter the market with us. We wish you a nice traing. Your UCT
by UltimateCryptoTrader
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