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short ETH/ USDT: Bearish divergence appeared!The live Ethereum price today is $3.436,29 USD with a 24-hour trading volume of $16.184.015.412 USD, -0,15% in the last 24 hours. POSITION: SHORT ENTRY PRICE: > 3.450 $ TARGETS: $ 3.300-3.200 / 2.800 – 2.700 / 2.450 / 2.200 / 1.900-1.800 / STOPLOSS: $ 3.900 After its bullish momentum ETH seems approaching now a significant correction , as the price has already hit the upper level of Keltner channel on 4h timeframe. Historically after such a bullish momentum, price usually starts its rally to the downside, ranging between the trend line and the lower level of Keltner channel. Also indicators are pointing out to a possible decrease, in fact a bearish divergence has been spotted, as shown by the black lines. MACD is looking bearish, below the trendline, RSI is 50, buying volumes are decreasing and RSI divergence is still under 0. For all these reasons I highly expect the short position to play out. In order to enter the position, wait for the bearish fractal to appear (green triangle). A bearish fractal occurs when there is a high point with two lower high bars/candles on each side of it. The indicator isolates potential turning points on a price chart and signals the price could move lower. The entry point corresponds to 0.236 Fibo level and all the targets corresponds to previous resistances: 0.382, 0.5, 0.618 and 0.786, levels which all have almost perfectly predicted support and resistance zones historically. _______________ TRADE AT YOUR OWN RISK NOT FINANCIAL ADVICE
Short
by Lari_Pen
7
NASDAQ: Ascending Channel Suggests Correction. An ascending channel has formed in the 1hr time frame. The reason why an ascending channel is suggestive of weakness is that the price action makes a higher high immediately followed by a correction followed by a higher high, which implies the bulls can not buy it up higher as every time they do the bears regain temporary control of the price action and correct it. This back and forth implies weakness on both the bulls and bears. Usually an ascending channel implies weakness and are often (not always) followed by a correction. Notice that the STOCHASTIC oscillator is buried in overbought for now. This will be the test that the markets must pass in order to move higher. Note to technical analysts beginners: Because we use technical analysis we only trade what we see and we MUST put away our biases if we are to succeed. This is contingent on TRUSTING our analysis. I hope that I have demonstrated in the short time I have been posting that correct analysis can lead to great rewards, but we must have a. practice and knowledge of how to use TA b. Be able to TRUST our hypothesis and c. We must acknowledge our biases but not let them interfere with our analysis. If we are extremely bearish but the charts says that this instrument will be bought up, we must trust our analysis and check our biases at the door. Note on correct risk management: Great technical analysis is NOTHING without a comprehensive robust understanding and plan of risk management. This is the honest truth. This is the way I trade, it is simple and manages risk completely. We will NEVER EVER blow our accounts if we stick to this system. (Real traders know about having a robust risk management system because they have ALL BLOWN UP THEIR ACCOUNTS at the beginning. This has happened to ALL the traders I know are now successful.) Method: Risk 1% of total portfolio loss on ONE trade. This means if your account is $19999 starting balance and we want to trade say NZDUSD and we want to short it (or buy it) we sell the correct position taking in mind we want to set a safe stop of about 20pips. This website will calculate the size of your position with a 20 pip stop loss. www.myfxbook.com . So our position is 99950 with a 1% risk loss so a $199 stop at 20 pips away. Once you are successful on a monthly basis for about 3 months of trading then you can add a second simultaneous trade for a maximum loss of 2%. If you lose and are stopped out at $199 loss now your starting balance is $19799 and your maximum stop of 1% is NOT $199 but it is $197...Similarly if we would have made profit we would have raised our risk as we would have our size. Say we make $1000 instead of losing 1% our account is now $20999 and upon our next trade we will risk 1% of that which is $209 AND we will have added to our lot size by the appropriate amount which would be 99995. This simple method is a winning method, if you follow its simple rules of scaling up if you win and scaling down if you lose you will never blow up your account. Good luck.
CME_MINI:MNQ1!
by Sinex
GBPAUD - Double Bottom PullbackWe have a double bottom pullback trade on the GBPAUD. What's so special about this trading setup? Well, on the higher timeframe, the Daily Chart, there is a Bullish Crab Pattern check back. Although the formation is complete beyond the PRZ, it sits nicely at the level and acts as a new support level. If you are familiar of the Crab Pattern, you should know that it is quite normal. On the current timeframe, the 1-hourly chart, the market has a Double Bottom followed by a pullback. No doubt this gives the best Reward: Risk, it is also a high-risk trade as the probability of it hitting the stop-loss is high. Before you ignore this trading setup, what if I tell you that the potential profit is 386pips, in fact, that might not even be the level that I would take any profit off, and just that it creates more than 5:1 of returns. Now, would you be interested?
Long
by RaynLim
5
Drep is ready to surpriseHello traders! Alt season is starting and it's not a surprise we will see many bull rides but it's a surprise that Drep will show a strong bullish move. We will soon see a surprise rise to atleast 4.5 which is about 680% from the current price. We can see the bullish curve on the chart and we can only notice 3 bulls' tips and it can form 5-9 rises like that so we can expect at least 2 more bullish runs that will break the curve line. It's at a perfect buy position because we can see a pull-back pattern and this can be the start of a big bull run. Don't forget to hit the like button and follow to stay connected.
DLong
by Aadil1000x
2
BTCUSDT is testing the previous support zoneThe price got a rejection from the supply zone as I told you on the previous analysis. On the daily timeframe, we can see a resistance exactly on 41800$. On the lower timeframe, the price is testing the previous support area. The price created a new Higher low after a bounce on 41800, and now the market is looking for the next bounce. the price could create a new Lower higher and then a new Higher low. How to approach? If the price is going to lose the 38k Zone and retest it as new support, According to Plancton's strategy , we can set a nice order. The next valid support remains 34k ––––– 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
14
BTCUSDT could have a pullback on the previous supportThe price had a very nice green candle from the 0.618 Fibonacci level on the daily timeframe and from the dynamic support. At the moment the price is testing the old resistance where the price has a supply zone. We could see a rejection until the previous weekly resistance on 40500$. According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
14
Wallstreets wants the Q's weekly EMA 200 again?Currently we are inmiddle of one of the most chaotic times, and stockmarket is starting to price in some serious fears into the market. Just eventually be prepared, that wallstreet might be aiming for some real deep value here. Btw. currently we buy the 100 week average price on nasdaq, not the worst spot to maybe start a fresh longterm depot, DCAing on the way down to maybe the weekly 200 might be somewhat of a chance with long horizon. Stay safe guys, trade setups coming soon again, busy times..
NASDAQ:QQQ
by 10xTrading
S&P500: Selling On A Pullback 8-3-22 S&P 500 – Cash: Selling A Pullback Into The Range Of Bearish Fakey Setup Price Action: There is no new price action signal to note at this time. Price moved lower from the recent Bearish Fakey Setup that had formed, mid-last week. Price broke and closed under the 4245 – 4270 prior key support area. Price briefly moved higher from the prior Bullish Pin Bar signal that had formed, over a week ago (We did not consider trading this signal as it had formed just under the short-term resistance area and against the recent short-term Bearish trend). Potential Trade Idea 1: For more aggressive traders, we are considering selling if price pulls back to within the range of the recent Bearish Fakey setup, with risk management above the Fakey Bar. Potential Trade Idea 2: We are still considering selling on a retracement higher and only after clear price action signal, whilst price remains below the 4484 – 4494 resistance area.
UShort
by UnknownUnicorn393254
LUNAUSDT reclaims the weekly supportThe price had a nice bull run until 97$ on 1.13 Fibonacci level. On the daily timeframe, the price lost the 88$ support. on the 4h timeframe, the price could retest the 78$ thee weely support after a retest of the previous daily support now the new resistance around 87-89$ where the price finds the 0.618 Fibonacci level. How to approach? we will expect a retest of the daily resistance and a new rejection until 78$ weekly support. bearish short term, bullish after the bounce on 78$ 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