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EUR-CAD Will Fall! Sell! Hello,Traders! EUR-CAD broke a horizontal level Then retested the supply area And we are seeing a nice bearish reaction From the level, so I think the price Will start falling on the opening seession Further down, with the target that you can see Being only a first target, while I belive The downtrend might take the pair even further down Before we see a bullish correction! Sell! Like, comment and subscribe to boost your trading! See other ideas below too!
Short
by TopTradingSignals
6
WABIBTC Local OB| Weekly S/R| Price Action| .618 Fib Evening Traders, Today’s analysis – WABIBTC- trading at a local OB where a bounce to the highs is probable, Points to consider, - Price Action Impulsive - Local OB Support (1to1 Extension Confluence) - Weekly S/R objective (.618 Fibonacci Target) - Climatic Node Present WABIBTC’s immediate price action is trading at a Local Order Block with a 1 to 1 extension confluence, allowing for a bullish bias. The objective is the weekly S/R where exceeding this level will make the target the .618 Fibonacci retracement of the recent swing high. There is a climatic node present, indicative of a temporary bottom being set after the recent volatile move. Overall, in my opinion, WABIBTC is bullish in the immediate short-term, price action is to be used upon discretion/ management. Hope this analysis helps! Thank you for following my work And remember, “The obvious rarely happens, the unexpected constantly occurs.” – Jesse Livermore
WLong
by AzizKhanZamani
2
QFIN, Strong decilne is on the way !QFIN more than likely has completed a 5 wave motive rally and a high probability decline is on the way soon. Motive 5 wave rally was started from 6.37 USD on Mar 18th 2020 and made a huge progress up to 45 USD terminated on June 17th 2021. Price reacted well and beautifully to strong resistance at 45 USD consisting of 1.618 extension of wave 4 and 0.786 Fibo projection of wave 1-3. If true , decline to 30, 25,20 and 14 USD corresponding to 0.382 , 0.5 , 0.618 and 0.786 Retracements of mentioned rally is possible for now. Later we can choose among these Retracement levels based on internal structure of upcoming corrective wave. Stochastic indicator has already made a bearish reversal in daily time frame while it is in overbought zone in weekly. It suggests that 45 USD all time high may remain the last high for several weeks. My Recommendations: 1- If you are in the trade and you doubt about this analysis, use Multi Unit Trade Strategy and save some profits. It is a very powerful tool for risk management. 2. If you want to go long, Its is wise to wait for a correction completion. It is too risky to go long now. Trade smartly. Good luck everybody.
NASDAQ:QFINShort
by SaeedSajedi
6
GOLD Correction After Breakout. Sell From RESISTANCE! Hello, Traders! GOLD broke out of the bear flag it was trading in on the daily chart And now it has hit a local resistance level And we are seeing a nice bearish reaction I think we might see a retest of this resistance If bulls are strong enough But ultimately a correction is due after the breakout Thus I expect Gold to fall to the support And start growing from there Local Short! Like, comment and subscribe to boost your trading! See other ideas below too!
OANDA:XAUUSDShort
by TopTradingSignals
1
XTZBTC Long Term Trend Line| Structural Support| Stoch Cross Evening Trader’s, Today’s Technical Analysis – XTZBTC- bouncing off from its trend line, an area of significance for the overall market structure Points to consider, - Macro trend line holding - Structural support confluence - Resistance test sell off - RSI below 50 - Stochastics buy cross - Volume below average XTZBTC is respecting its macro trend line with an initial bounce that needs follow through. This area must hold as it is in confluence with structural support, a break will negate market structure. The resistance test lead to an impulsive sell off, a correction to local resistance is highly probable The RSI is below 50, not officially oversold whilst the stochastics has a buy cross at lower levels, indication of momentum shifting. Volume has been below average for a while; a bull influx at a key technical level will show strength in price action. This is important as failure can run the risk of negating the whole market structure. Overall, in my opinion, XTZBTC has a high probability of testing local resistance. A break above will confirm the respect of the longer term trend. What are your thoughts? Please leave a like and comment, And remember, “Trading mastery is a state of complete acceptance of probability, not a state of fight it.” ― Yvan Byeajee
Long
by AzizKhanZamani
4
Descending broadening wedge|Probable Trade Set Up|KEY ResistanceHello Traders, Quick update today on BTCUSD, where we have a potential long opportunity Points to consider, - Trend consolidating - Local resistance to break - EMA’s neutral - Stochastics neutral - Volume declining BTC has been consolidating on this lower time frame in a descending broadening wedge formation, which can be a bullish continuation. Local resistance is a key level to break for a confirmed continuation. EMA’s are currently trading neutral, holding price as support currently, but does look weak. The stochastics is currently also neutral; a break in either direction is probable. Volume is visibly declining, indicating an impulsive move is imminent Overall, in my opinion, BTC will eventually break as it comes close to its apex. A break bullish is more likely due descending wedge, confirmed only when resistance is broken. What are your thoughts? Please leave a like and comment, And remember, “You have power over how you'll respond to uncertainty.” ― Yvan Byeajee
BITFINEX:BTCUSDLong
by AzizKhanZamani
EOSBTC Diamond Pattern| Breakout Imminent !Hello Traders! Today’s Chart update will be on EOS/BTC, we have a potential diamond pattern coming into its apex, suggesting that a break in either direction is imminent… Points to consider - Trends is overall bearish - Local support and resistances are posed by the diamond formation - Structural resistance in confluence with diamond bull break - Stochastics trading neutral - RSI approaching apex zone - EMA’s neutral, no clear direction - Volume declining - VPVR decreasing in transactions in both bull and bearish direction of the diamond pattern EOS macro trend is considered to be bearish, putting in consecutive lower highs as it entered into to current diamond pattern. Local resistance and support of the diamond pattern are converging, coming closer to its apex; a break will be imminent in the near future. Structural resistance is in confluence with the technical bull break target of the diamond pattern. A bear break target will however post new yearly lows for EOS, a break in either direction is imminent, we just need to wait for confirmation. The Stochastics is currently trading neutral, momentum is stored both ways for the bulls and bears, we don’t have a clear direction as of yet. The RSI is however approaching its apex; a break will come to fruition which will be in confluence with the actual price break from the diamond pattern. EMA’s are quite neutral with no clear direction; price is clearly trading through it. A break will establish either support and or resistance for the EMA’s, this will obviously be in confluence with a bull and or bear break. Volume is declining, low volume suggests that a breakout is coming; we need to see an influx of volume with follow through to avoid a false breakout. The VPVR is quite interesting, volume of transactions have decreased both ways, this signals low levels of resistance posed by the VPVR when price breaks its apex… Overall, IMO, a break from this pattern in either direction is very close, with concessive targets. We have volume declining as price comes closer to its apex, an influx of volume is more likely to come to fruition which will signal the break from the pattern. What are your thoughts on this diamond pattern? Please leave a like and comment, And remember, “Accepting losses is the most important single investment device to insure safety of capital.” – Gerald M. Loeb
by AzizKhanZamani
Bitcoin volatility recovers after hitting 2-year low_____ Hit a like button to view hidden content _____ According to the relative volatility index indicator, BTC volatility recently tested another lowest low. Last time Bitcoin volatility was that low only 2 years ago, in October 2016. It shows an extremely strong accumulation phase, which is currently ongoing. A bullish breakout is something that most cryptocurrency investors are waiting since January 2018, when BTC/USD topped out. Slowly, but steadily Bitcoin is approaching the point where volatility will go ballistic and perhaps this is the time when breakout will occur. Most asking the question as to the direction of the breakout, as there are many concerns regarding the future of the Bitcoin. But at the same time, there are massive amount of optimism in the entire cryptocurrency space. Lets try to have an objective overview of the price development scenarios to be expected. The support On the 8th of September the uptrend trend line has been rejected, where BTC tested $6120 low. At that time it has touched the 88.8% Fibonacci support located at the same price. Obviously, since June, Bitcoin has established a strong support area between $6120 and $5858, while price has bounced off it many times.. The trend As long as support is holding, it would be reasonable to assume that probability of the price moving up is very high. In the worst case scenario BTC/USD will continue to consolidate, extending the accumulation phase. Another point to mention is the break above the 78.6% Fibonacci resistance at $6454, as after the break above, price found there support and produced higher high on the lower timeframe. According to our previous analysis on Bitcoin resistance has been taken out, which adds more points to the probability of an incoming uptrend. Also, Relative Volume Index indicator has reached and bounced off the lower trend line of the descending channel. And finally, RSI is about to break above the triangle pattern. Considering all these facts should help to produce a forecast with relatively high probability. The potential We have determined the probability of an uptrend remains very high at this stage. Therefore, upside targets have to be carefully calculated and studied. Fibonacci, applied to the downtrend trend line breakout, shows that nearest resistance is at $7k, which is 61.8% level. Along with the following 3 Fibonacci resistance levels, they should have a minor impact on the price. The strongest level of interest, that is key resistance, is seen at $9k, confirmed by 2 Fibonacci retracement levels. Slightly higher is yet another level to watch for, that is 88.6% Fibs at $9380. The risk As always, there is certain probability of the establishment of a downtrend. Taking into consideration recent price action, this scenario has low chance of success, although can’ be ignored. If BTC/USD will break below the $6450, price can go down to $6125 - $5858 support area. The invitation for bears would be daily break and close below the $5858, which would apply more pressure on BTC price, potentially dropping it down to $5k area. Summary: Now Bitcoin is looking bullish, as multiple times sellers failed to take over. Although the fight between bulls and bears continues, the probability of an uptrend is higher, as long as $6450 support will hold. The next bull run might be about to start, that can bing BTC up to $9k area. Yet, investors should have a clear strategy for exit in case of an unexpected downside breakout. Key levels Support: $6450, $5858 Resistance: $7000, $9000
BITFINEX:BTCUSD
by CryptalDash