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Pullback

GBPNZD Trade Set up round 2Hey Traders, The absolute classic set up here on GBPNZD. If you remember our trade idea last week, maybe two weeks ago, the trade we took on this pair, you would recognize the similarities that we have here. We've had a double break of structure and now we're waiting on a pull back into the demand area of that second breaking structure. The original idea we caught on the one hour chart earlier in this picture, we are looking at replicating this idea and catching it on the four hour chart. I have linked the previous idea below, So go check that out and you can see exactly how it's pretty much the same setup, just a different time frame and also how that trade played out. Keep an eye on this pair. There is a little bit of news coming out later in the week, but nothing too damning. It'll be interesting to see if the pound can pull back into this demand area and then shoot us forward into the future. Let me know your comments in your analysis and whether or not you're going to be looking at this pair in the future to see what it can do. Can we get a bit of pound strength coming in over the next couple months?
Long
by the5erstrading
9
BTCUSDT wants to retest the lower trendlineThe price lost the weekly support on 42k and now the price is testing the 40k key level. On the daily timeframe, the price is creating an ascending channel, the first impulse started from the monthly support of 32500$. On the 4h Timeframe the price created a M Pattern and the market retested its neckline as resistance. How to approach? The price wants to retest the lower trendline of the ascending channel on 37000$ on 1.13 Fibonacci EXT. We could see a pullback on the weekly resistance before the next bearish impulse. According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
12
⭕️SELL USDCAD ; Its time to sell❗️⭕️You see the analysis of the US dollar against the Canadian dollar in four hours (USDCAD , H4)🔎 🔰SELL USDCAD at 1.25950 ✅TP ; 1.23100 ❌SL ; 1.26400 🔰As you can see from the picture, this currency pair has broken its own uptrend line (white line) in four hours and is currently pull back ❗️to the trend line.🧐 Due to the presence of price in the range, the price pullback is broken to the uptrend line and the demand range (purple) as well as the resistance line (orange) seems to be a low risk sale.🔎 The target is placed in the purple support range.❗️ The profit and loss limits are also indicated in the image. 👌 ⚠️⚠️Please observe capital management and open a low volume transaction❗️❗️ I hope this analysis is useful for you🙏🏻🌹 📌Please introduce the "TRADER STREET" to your friends 🙏🏻 _______________________📈TRADER STREET📉________________________
Short
by TRADER_STREET
1
BTC-WATCH THE CLOUDS-D1 and W1 !WEEKLY (W1) Last week price action triggered a LONG BLACK CANDLE (BEARISH SIGNAL) which managed to close above the Tenkan-Sen @ 41'279. The ongoing candle, firstly broke, yesterday, the TENKAN-SEN and went lower towards the bottom of the weekly clouds which act, for the time being as support.. In order, in this weekly time frame to neutralise the selling pressure, the BTC needs, at least to recover above the former support (Tenkan-Sen) @ 41'279; this would be the first step of a potential recovery. A failure to do it on a weekly closing basis, would keep the focus on the bottom of the weekly clouds (@ 39'895) ahead of the next significant support @ 36'425 (former primary support trend line and monthly KIJUN-SEN. DAILY (D1) The cross-under 41'279, as expected and mentioned in my last analysis (see related ideas) triggered a downside acceleration in breaking in its way the psychological 40'000 support level in making an intraday low @ 39'218. A natural pullback took place, attempting to recover above the former support (daily thin clouds), currently 39'900 and 40'100 RSI @ 37.70 LAGGING LINE attempting to stay above both KS and TS. 2 SCENARIOS COULD BE SEEN FROM NOW : 1) BULLISH A successful breakout and a daily closing at least above 40'000 would neutralise "temporary" the ongoing downside risk calling for lower level; nevertheless, such kind of price action should be confirmed by an upside move continuation at least above the middle (40'841) of the yesterday's long black candle (bearish), which if seen, would trigger a PIERCING LINE , (1st bullish signal), A much bullish signal would be given by a daily closing above both the Kijun-Sen @ 41'279 and above the yesterday's opening level @ 42'159, which if achieved would trigger a BULLISH ENGULFING . a pattern which should be seen more powerful than the Piercing line previously mentioned. 2) BEARISH If the ongoing pullback attempt fails and do not achieve to recover above the levels above mentioned in the bullish scenario, then the focus will switch firstly towards the secondary support trend line (minor support) around 39'000 ahead of the more important support of 36'425 being firstly the monthly KIJUN-SEN and secondly the primary support trend line. CONCLUSION : Once again the CLOUDS and LAGGING LINE will give the answer !!! 4 HOURS (H4) Currently far below the clouds and also below TS, KS and MBB In this 4 hours time frame, it looks like any recovery should be seen as a corrective move only in an established ongoing downtrend and any rally should be considered as a better selling opportunity. It is not a surprise to see that the H4 TENKAN-SEN @ 41'334, coincides roughly with the Daily TS @ 41'279 previously mentioned as an importance new resistance to break in order to neutralise the ongoing downside move; therefore, this resistance area corroborate the daily view and as long as the BTC does not achieve to recover and hold at least above 41'279, the picture will remains bearish. 1 HOUR (H1) Currently above TS and facing the Mid Bollinger Band resistance @ 40'251 ahead of KS @ 40'793 No RSI bullish divergences detected yet in this H1 time frame which mean, for the time being corrective move and not trend reversal yet !!!! Last but not least the hourly clouds resistance are @ 42'613 (twist). IRONMAN8848 - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
3