EURUSD Preparing for buyThe price channel may continue to grow according to technical analysis. If not clearly breached, We will see the price reaction at a resistance zone 1.23400 According to the daily frame.
Resistance_level
IGL - Symmetrical TriangleThe stock has given breakout of symmetrical triangle. Above 534 it can show a good momentum upto 570.
2500 is a key resistance to watchSeems like Ethereum may have completed a 3-3-5 flat structure between 2100 and 2500 since yesterday's evening. The bearish scenario gets invalidated if the price firmly closes above 2500 soon. If not then I maintain the bearish view on Ethereum and all the other crypto currencies/assets.
Possible Short for XAUUSDThe price for this commodity is now in the resistance zone at a strong level and resistance line, which is the upper channel line. Despite yesterday's attempts to go up, the price has been held back. Now many experts are waiting for it to go down - to the lower border of the channel.
Will Silver Continue to Shine?The silver market received a blow yesterday but has since recovered.
Yesterday was also a volatile session for gold as well, after the false breakthrough over the $1,875 resistance line that was quickly reversed, and the gold closed with dojis.
Silver jumped to its highest level since Tuesday, February 2, before turning from $ 28.73. The bearish silver pin bar from Tuesday was confirmed with a sale yesterday at 27.36.
Still, silver remains in the range of the bullish channel, but it remains to be seen how its volatility may factor new long positions.
Experts believe that this subsequent reversal will be a short-lived phenomenon, and overall the trend is likely to continue.
Requested: Update on WINUSDT (yet another scalp, maybe)After my last idea on WIN, which played wonderfully as expected (.012 to .0.15, see previous idea), this altcoin did get into a descending channel, bringing the price all the way down to .0009
Right now everything looks bearish, there’s no volume (barring the exact candle that got the coin out of the downtrend, most probably a whale/insider bought to save it).
However, we can wait and see a break out of the green triangle. If this does happen with a strong volume candle, we can expect some kind of parabolic move to at least the first resistance, which is at 0.012. Pay attention to the 4hrs candle the most, don’t be fooled by some fake breakouts in the 15m/1hr.
Good luck, and stay safe!
Not financial advice.
Mutliple entry reasons on GBPAUDHere we have an advanced BAT pattern on the 1hr chart of GBPAUD, which nearly hit completion of friday evening. I don't trade solely off advanced patterns - i like to look for other entry reason and build up a score.
So in addition, we are at a level of higher time frame previous resistance, have an equal measured move, a 1.618 fib extension, rsi over sold and we're at the psychological number of 1.8100 - giving a nice area of interest.
The move from this area may of already begun, so I will be waiting for a double bottom or a Higher High Higher Close candle in this area.
If the trade gets activated i'll be looking to take targets below previous structure and stops an atr below the low.
OANDA:GBPAUD
Seeking the $ 22! But there's one problem...PLTR hit the 50% fibo retracement today, at 18.66, and if it breaks the 20.30 we'll have a bullish confirmation that could take the stock to our target.
The area between the 18.81 and the 20.30 is a solid resistance, but if PLTR breaks it, the 22 area is the next stop.
We have no other major divergence on RSI or OBV, so, our analysis will be naked today, we'll only use only with Fibo. But PLTR must break the 20.30 as soon as possible, or it'll just keep dropping.
If it loses the 50% retracement, we'll see it at the 17 again. Let's keep our eyes open here!
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See you soon,
Melissa.
Is the US Dollar About to enter Seasonal Rise?Hey Traders so last post I mentioned that dollar was selling off fast but was not sure why if it was profit taking. But today I had forgot that Seasonals somtimes play a role in this market. Check out this months seasonal pattern and let me know what you think of this months US Dollar forecast. I think we are going to some bullish momentum soon! But of course my compass could be off so always use risk management!
Enjoy!
Trade Well,
Clifford
All opinions expressed are for educational purposes and this is not a recommendation to buy or sell).
(Always use risk management before entering any trade).
(Past performance is not guaranteed for future results.)
Very bearish momentum in GBPUSDGBPUSD is in a uptrend channel.last week it form a bearish shooting star candle. so we are bearish on it now and our target can be the next weekly support at 1.36600 if price break it then we can expect the price to get around 1.35000 on fibo expantion level -0.27.
USDJPY trade analysisPrice is currently bullish. It will soon reverse to the downside at the resistance level.
Stacked ResistancesGME Currently below Both Supply Zone/Volume Resistance, downwards trendline and below fib extension resistance
Risk:Reward leans towards being bearish, even though I'm rooting for the mother of all squeezes to come.
Bought Puts. Strangle wasn't really worth it, calls are way too expensive in my humble opinion.
AUDCHF H4 - LONGPrices are currently in a triangle consolidation. Prices broke out of an immediate descending trendline and was rejected by an immediate resistance zone. We will be waiting for bullish momentum on our minor break out zone before looking for a move upside.
Elliott Wave Analysis: Natural Gas Looks Clearly BearishHello traders and investors!
Today we will talk about Natural gas, its price action from technical point of view and wave structure from Elliott Wave perspective.
We have been bearish on Natgas all the time and seems like the downtrend is not finished yet.
After a big, higher degree a-b-c corrective movement at the end of 2020, ideally for wave B, Natgas turned down in an impulsive fashion, probably as part of the first leg (i) of a new five-wave cycle within wave C that can push the price back to 2020 lows.
Well, after we noticed a nice bearish setup formation with waves (i) and (ii), seems like Natural gas is on the way down within wave "iii" and after recent break below strong daily channel support line, it's actually confirming the bearish trend.
Currently we can see another three-wave intraday corrective pullback, ideally in subwave (ii), where support line of a corrective channel may now act as a strong resistance.
All that being said, be aware of a bearish continuation in 2021, ideally and probably as part of a new five-wave cycle within wave C of a higher degree wave (V) that can send it back to 2020 lows to complete a bigger weekly ending diagonal pattern.
All the best and have a great weekend!
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Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
TRXUSDT bounced on 0.5 Fibonacci level 🦐After a very nice bullrun, the price bounced on 0.5 Fibonacci level. IF the price will have a breakout from daily resistance, According to Plancton's strategy (check our Academy), we can set a nice order
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
