Price action & Psychology - Triple bottom, rejectionHello !
Key points:
Triple bottom
Rejection at support
Spike in volume
That price rejection actually tells us that people were afraid and panic sold at open, driving the price down until it encountered some buying pressure and price went back up.
When gauging this candlestick pattern, it is important that :
It is at a support level
Occurs after a selling wave
Shadow/wick goes below previous swing point low
A volume increase
An obvious wider price range
Look at the previous candlestick, it clearly tells us that there was some buying pressure but not enough momentum to carry the price up. Furthermore, it pulled back, I'd guess, halfway at previous "resistance" from the second bottom.
Thanks for reading and if you have suggestions or wanna discuss the idea, just leave a comment, I'll be happy to answer.
***Disclaimer : This is not an advice to buy the stock. Please, be aware that trading is a matter of probabilities and that it takes only ONE trader to deny your trade.***
Rejection
USDCAD two possible ScenariosUSDCAD H4 - TWO POSSIBLE SCENARIOS
this pair is trading inside this green channel, so we are overall bearish here.
price is now sitting around the upper green trendline and orange resistance, so we may expect a downward movement from here
unless price breaks above the orange level 1.4200 upward aggressively, then an upward movement till around 1.4650 would be expected
as mentioned, for now, this pair is overall bearish (going downward), in this case, the first main rejection area is the lower green trendline and blue level 1.380
if price breaks below the blue level 1.3800, then a downward movement till around 1.3500 would be expected
GBPJPY Will price bounce off support again? This is a full breakdown of my perception of price action on higher time frames! I take my entries using smaller time frame confirmation and you should, too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Let’s make some money together!
AUDCAD Potential Bearish MovementAUDCAD Potential Bearish Movement
we are waiting for a momentum candle close below 0.890 to sell this one
Reason:
1- Regular Bearish Divergence on MACD (in red)
2- Objective Wedge Pattern (in blue)
3- Resistance / Round number in purple 0.910
Three confluences are enough to consider Selling AUDCAD, after a break below 0.890 (in gray)
EURUSD SHORT IDEAAs seller's pressure rejected the price from breaking the resistance zone, we a cool to go short.
USD/CAD, Heading Towards Major Resistance ZoneIf we see USDCAD rejecting the resistance zone on the 4h chart, we can look for short entry confirmations on the hourly chart.
USDCAD Long Trade *SUPPORT ZONE*USDCAD has reached the 1.38600 support zone and is showing signs of rejection. If bullish candle closures remain then I can see buying at these levels should prove profitable.
There is a 1hr bearish trend in play (trendline shown) so watch for price reactions there. If that TL breaks to the upside then 1.40200 and even 1.42500 could be achieved.
The dollar us always in demand in times of global uncertainty and we are definitely in that right now.
Stop losses should be placed conservatively below the wicks testing this support zone.
USDCHF Update! This is a full breakdown of my perception of price action on higher time frames! I take my entries using smaller time frame confirmation and you should, too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Let’s make some money together!
EURUSD Potential Bullish MovementEURUSD Potential Bullish Movement
we are waiting for a momentum candle close above our gray zone 1.0895 to buy this one
Reason:
1- Divergence on MACD (in red)
2- Objective Inverse Head and Shoulders (in orange)
3- Support Zone from Daily
Three confluences are enough to consider Buying EURUSD, after a break above our gray zone 1.0895
** meanwhile, this pair is overall bearish until the buy setup is activated
Ethereum - ETHUSD Potential Bearish MovementEthereum - ETHUSD Potential Bearish Movement
we are waiting for a momentum candle close below 185.0 to sell this one
Reason:
1- Regular Bearish Divergence on MACD (in red)
2- Objective Trendline (in blue)
4- Supply / Round number in purple 200.0 (in purple)
Three confluences are enough to consider Selling ETHUSD, after a break below 185.0 (in gray)
** meanwhile, this one is overall bullish until the sell is activated
NZD/USD SHORTbeen rejecting trend line consistently as it broke the uptrend and created the down trend rejecting of multiple spots to create the down trend , looking to take this the bottom trend line to create the 3rd touch .
BTC Key Zones & Market ComparisonWe've been trading in an upward channel for roughly 42 days now.
We're now approaching the .618 fib level of the last peak which is roughly $8k, which lines up with our longterm resistance zone as well. I wouldnt be surprised to see a move up to there before a pullback, but keep in mind we could trade up to the upper end of the channel as well considering it's still in our red resistance zone. Regardless, these are my short zones.
Traditional markets continue to rally upward.
You can see the correlation between BTC and S&P with regards to price action.
BTC broke down for an approximate 50% immediately following Trump's speech of a total shutdown, causing the S&P and other traditional markets to plummet down as well.
At this very moment although we had a breakout to the upside you can see possible rejection forming. We'll see if it continues to display signs of exhaustion or if we actually break further up.
Move up to 8.3k region is still in the cards for now.
I am pretty skeptical of new highs with regards to traditional markets. I'm anticipating another leg down in which I would expect the major move for BTC as well, likely to the downside for now and doesn't necessarily have to happen right now this instant.
EURGBP Possible Long back up to resistance levelEURGBP is rejecting the support level so I think that price will move up to around the resistance level
EURJPY LongWe have a possible long position here affter some rejection and the break of the trend line.
At the moment the price still having some bearish moment but in some hours maybe ready
EURUSD SHORTLooking at my previous EU sell which went as expected and fell past the target 2, having seen that the price has several times retested and failed to break the ascending trendline.
I would be looking at some further downside potential on this pair, hopefully down to my original target 3 area.
CADJPY Long (Affter some clear confirmation)We have a possible rejection from this point looking from the weekly time frame point of view. (this chart here is not the weekly)
More confluence of rejection!Daily ma,ob,ichimoku,fibonacci and trend line all rejected.
imo if we break up bullish as,but too much rejection atm at the same level
A relação entre as EMA de 9, 50 e 200 dias com ETH/USDC...Essa interação está realmente única...
Reparem como o preço usou a EMA de 9 dias como suporte, rompeu a EMA de 50 dias, sentiu resistência da EMA de 200 dias, depois usou a de 50 como suporte, e rompeu a de 50 novamente para usar a de 9 dias como suporte!
Vamos esperar algum tempo e ficarmos atentos para observar se a EMA de 9 dias irá ser rompida, o que seria uma indicaçã de baixa, ou se ela atuará como suporte para depois o preço romper as resistências das médias exponenciais de 50 e 200 dias.
Na minha opinião, existe uma boa probabilidade do preço movimentar-se um pouco dentro do canal, para depois ROMPER A EMA DE 9 DIAS E DESVALORIZAR!
AVISO LEGAL: o conteúdo postado nessa página não é conselho financeiro e não deve ser entendido como tel. O propósito dos posts é a INFORMAÇÃO. Invista e faça trocas de ativos baseado no seu próprio julgamento e risco!
Daily Bullish Divergence (ETHEREUM)Really loving this look right now.. Big bullish divergence on the daily time frame.. I truly believe in the technology that Ethereum has brought into the world..
However..
I do not like how we are approaching a long-term support and resistance zone..
I also do not feel comfortable with the volume..
I have a long-term holding position in Ethereum however if we have another drop I will certainly be putting more capital to work.. But maybe I already missed the opportunity.. Let's see..
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MNLZ
good support area to wait forThe pairs has nearly reached for a good support level that we possibly are having a up trend if the price keep rejecting this support
please do your own research for any entry this is to share with you guys not an a signal by any mean
Unique Weekly Trend During BTC correctionI have noticed an odd yet unique pattern happening with Bitcoin ever since the crash sub 4k.
Bitcoin always starts the week off Really Strong following the stock market and is able to hold of most of its gains into Friday , then over the weekend when all markets but Bitcoin are open everything gets dumped back to square one at the 6k Baseline Support.
There is a strong case for this to occur again this week as Bitcoin failed to break higher despite the numerous attempts by the bulls to get bitcoin into the 7k region.
The Stochastic Rsi is showing a double top a bearish sell signal we haven't seen a while that has proven to be valid and of high probability for bitcoin.
