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Stochastic Oscillator

LRCBTC Weekly S/R|Range High|.618 Fibonacci|Technical DivergenceEvening traders, Today’s Analysis – LRCBTC – breaking back into weekly structure with the immediate target range high. Points to consider, - Immediate trend bullish - Weekly S/R confluence (.618 Fibonacci) - Range high target - Oscillators diverging - Structural higher low The immediate directional bias is bullish due to consecutive structural HH’s and HL’s. The weekly S/R is in technical confluence with the .618 Fibonacci, an S/R flip retest is likely to hold true. Range high is the immediate target, breaking this level will continue the trend; higher weekly targets will be objectives. Oscillators are both diverging, price established a higher low, and oscillators established a lower low, this is a technical hidden bullish divergence. Overall, in my opinion, an S/R Flip retest of the weekly level will allow for a valid long with defined risk. Price is action is to be used upon discretion and management of the trade. What are your thoughts? Thank you for following my work! And remember, “When you really believe that trading is simply a probability game, concepts like right or wrong or win or lose no longer have the same significance.” – Mark Douglas
Long
by AzizKhanZamani
2
USDCAD Key Support|Bullish Divergence|Local Resistance|.618 Fib Evening Traders, Today’s Analysis – USDCAD – strong sell off leading the market to oversold conditions, a bounce is probable into local resistance. Points to consider, - Impulse sell relief rally - Structural support respected - Local resistance (immediate target) - Oscillators diverging - Volume below average USDCAD’s immediate trend is bearish with an impulse sell into a key level, structural support that is holding true. A relief rally is probable into local resistance – backed by a valid double bullish divergence. As both oscillators are diverging from price, this indicates buy momentum coming into the market. Current volume node is below average, an influx is highly probable upon a back test of the .618 Fibonacci. Follow through will be needed to reach local resistance target. Overall, in my opinion, USDCAD is a valid long with defined risk. The market is due for a relief rally; price action is to be used upon discretion/ management of the trade. What are your thoughts? Thank you for following my work! And remember, “The expectation that you bring with you in trading is often the greatest obstacle you will encounter.” ― Yvan Byeajee
Long
by AzizKhanZamani
XRPBTC Range Support|S/R Flip|200 DMA|Volume Influx| Swing Low Evening Traders, Today’s analysis – XRPBTC- impulse break back into structure with the immediate target being range resistance. Points to consider, - Swing low failure (local trend change) - Range support confluence (.50 Fibonacci & 200 DMA) - Range resistance target - Oscillators diverting to neutral - Clear Volume influx (temporary top) XRPBTC’s immediate trend has a bullish bias as it has confirmed a swing lower failure pattern with an impulse move up, higher targets probable. The range support has multiple technical confluences, the 200 DMA and the .50 Fibonacci. This area is highly probable to be respected upon an S/R flip retest. Range resistance is the local target, breaching this key technical level will change the macro trend, establishing a higher high. Both oscillators are diverting with a valid volume influx node present, this indicates a temporary top being in as price trades in a corrective manner. Overall, in my opinion, XRPBTC is heading for an S/R flip retest of range support. This will allow for a valid long with defined risk. Price action is to be used upon discretion/ management of the trade. What are your thoughts? Thank you for following my work! And remember, “Why do you think unsuccessful traders are obsessed with market analysis? They crave the sense of certainty that analysis appears to give them. Although few would admit it, the truth is that the typical trader wants to be right on every single trade. He is desperately trying to create certainty where it just doesn’t exist.” – Mark Douglas
Long
by AzizKhanZamani
2
USDAUD Structural S/R |Technical Divergence|.618 Fib|Swing HighEvening Traders, Today’s analysis – USDAUD – formed a double bottom structural with the immediate target swing high upon an S/R flip confirmation. Points to consider, - Immediate trend bullish - Structural support confluence (.618 Fibonacci, 21 MA) - Local support respected - Oscillators over-extended - Swing high target USDAUD's immediate trend is bullish after breaking a key structural level. A S/R flip retest will confirm support allowing to solidify a bullish bias on the market. Structural support has multiple technical confluences, the .618 Fibonacci and the 21 MA. Price is highly probable in respecting these technical levels upon a back test. Current local resistance is being respected, this is a trade location where sell pressure is likely, enhancing the probability of an S/R flip retest. Both oscillators are over extended, indicating the market is losing immediate momentum, a pullback to the Fibonacci levels will be healthy for the trend. Overall, in my opinion, a confirmation of structural S/R flip retest will allow for a valid long with defined risk into swing high. Price action is to be used upon discretion and management of the trade. What are your thoughts? Thank you for following my work! And remember, “There is a huge difference between a good trade and good trading.” – Steve Burns
Long
by AzizKhanZamani
XMRUSDT Daily S/R| Bearish Divergence|.618 Fib|Increasing VolumeEvening traders, Today’s analysis – XMRUSDT- in a strong uptrend respecting its EMA’s, continuation is likely into daily resistance. Points to consider, - Consecutive HH’s &HL’s - EMA’s support confluence (.618 Fibonacci) - Daily S/R level (Respected) - Oscillators diverging - Increasing volume XMRUSDT’s trend is establishing higher highs and higher lows; this gives un an immediate bullish bias on the market. The EMA’s can be used as a support guide in an uptrend, a pullback will be in confluence with the .618 Fibonacci, valid entry point. Current daily S/R is being respected with a valid bearish divergence (oscillators diverging), this enhances the probability of a short term pullback (higher low). XMRUSDT has an increasing volume profile , this is healthy in an uptrend, and continuation is needed when breaking key levels. Overall, in my opinion, XMRUSDT is a valid long upon a pull back, this will allow for a risk defend entry. Price action is to be used upon discretion/ management of the trade. What are your thoughts? Thank you for following my work! And remember, ‘ “Reaching any goal in trading requires specific domain knowledge and technical skills. But then, after that, it's all mindset management. Yet most people ignore that —they automatically think they have that last part all figured out, and it's a mistake.” ― Yvan Byeajee
XLong
by AzizKhanZamani
2
NZDUSD Rising Wedge|Structural Resistance|.618 Fibonacci|200 MAEvening Traders, Today’s Analysis = NZDUSD – trading at key structural resistance in a bearish pattern, a move down is probable. Points to consider, - Trend rising wedge - Strong structural resistance - Local support confluence - Oscillators divergence - Volume declining NZDUSD’s immediate trend is in a rising wedge pattern with price action close to structural resistance, the immediate bias is bearish. The local support has technical confluence with the .618 Fibonacci and the 200 MA. Price is likely to respect this area when tested. Both oscillators have immediate bearish divergence; this is in confluence with the rising wedge, enhancing the probability of a break down. The volume profile is declining, sign of weakness in PA, an influx is probable at key trade locations, i.e. break of rising wedge. Overall, in my opinion, NZDUSD is a valid short with invalidation above structural resistance. The immediate price action is to be used upon discretion/management of the trade. What are your thoughts? Thank you for following my work! And remember, “No man ever reached to excellence in any one art or profession without having passed through the slow and painful process of study and preparation.” – Mark Douglas
Short
by AzizKhanZamani
4
RENBTC Double Top| Impulse Sell| Structural Support|21EMAEvening Traders, Today’s analysis –RENBTC- impulse sell coming into structural support where a bounce is probable. Points to consider, - Local double top - Support flipped (local resistance) - Structural support confluence - Oscillators above 50 - Volume below average RENBTC had an impulse reaction from its double top region, breaking a key level now turned local resistance. Structural support is the immediate trade location; it has technical confluence with the .50 Fibonacci, a bounce is probable at this key level. The 21 EMA and 200 MA are visual support guides; price likes to back test them with each impulse move away. Both oscillators are above 50, returning to neutral territory. Trading above the 50 mid-point gives a bullish bias on the market. The immediate volume is below average, an influx is probable when approaching key trade locations i.e. structural support. Overall, in my opinion, the structural support region is likely to be tested which will allow for a valid long with defined risk. Price action is to be used upon discretion/ management of the trade. What are your thoughts? Thank you for following my work! And remember, “a greater probability of one thing happening over another. In a sense, technical analysis allows you”― Mark Douglas
RLong
by AzizKhanZamani
BNBBTC S/R Flip| .618 Fibonacci| 21 MA| Swing HighEvening Traders, Today’s Analysis – BNBBTC – respecting weekly support and breaking above a key daily level, swing high is the immediate target. Points to consider, - Local trend impulse sell (oversold conditions) - Macro weekly support - Technical confluence (.618 Fibonacci & 21 MA) - Oscillators overextended - Volume below average BNBBTC impulse sell lead to an oversold bounce from key macro weekly support, this relief rally gives us a short term bullish directional bias. The daily has multiple technical confluences, the .618 Fibonacci and the 21 MA. Price is likely to put in a retest for a confirmation of an S/R Flip. Price acceptance will increase the probability of testing swing high. The oscillators are both overextended; a retest of the daily level will bring them back to neutral territory. This is healthy for the overall short term trend. Current volume profile is below average, an influx is probable when testing daily support. Follow through in volume is important for trend continuation. Overall, in my opinion, an S/R Flip retest will allow for a valid long entry into swing high. Price action is to be used upon discretion / management of the trade. Price breaching daily support will negate the trade idea. What are your thoughts? Thank you for following my work! And remember, “A quiet mind is able to hear intuition over fear.” ― Yvan Byeajee
Long
by AzizKhanZamani
CADJPY S/R Flip|Oversold Bounce|.618 Fibonacci|Volume InfluxEvening Traders, Today’s Analysis- CADJPY – price impulse through key structure, an S/R flip retest will validate it as support. Points to consider, - Trend oversold bounce (RSI) - .618 Fibonacci (Resistance) - Structural support (S/R Flip) - Stochastics sell cross - Volume influx CADJPY trend impulse was due to oversold conditions indicated by the RSI. A swing lower failure will indicate continuation. The bearish .618 Fibonacci has been respected, price is likely to retrace for an S/R Flip retest. This will solidify structural support holding true. The stochastics has a valid sell cross which is indicative of momentum shifting in the market. A volume influx is also present, these influxes usually mark temporary tops. Overall, in my opinion, CADJPY is likely to retrace and hold structural support. This will validate a long trade with defined risk. Discretion is to be used upon management. What are your thoughts? Thank you for following my work! And remember, “If you can’t take a small loss, sooner or later you will take the mother of all losses.” – Ed Seykota
Long
by AzizKhanZamani
GBPUSD Swing High| Liquidity Grab| Local Support| .618 FibonacciEvening Traders, Today’s analysis – GBPUSD – in a technical area of confluence, a retracement to the .618 Fibonacci is likely. Points to consider, - Local trend swing high - Equal highs ( Liquidity grab) - Local support confluence (.618 Fibonacci) - Oscillators overextended - Volume increasing GBPUSD is testing a key level with equal highs. This increases the probability of a liquidity grab. Local support is the immediate target which is in confluence with the .618 Fibonacci. A retest and respect of this area will establish an S/R Flip. Both oscillators are over extended which is a sign that the market is overbought and due for a retrace. There is a clear influx of volume, this solidifies that GBPUSD is at a key pivot, follow through will fuel the direction. Overall, in my opinion, a short is valid with defined risk. Price action must be used upon discretion/management of the trade. What are your thoughts? Thank you for following my work! And remember, “There is a huge difference between a good trade and good trading.” – Steve Burns
Short
by AzizKhanZamani
4
KNCUSDT Higher Lows Structural Resistance|Volume Influx|.618 FIBEvening Traders, Today’s Analysis – KNCUSDT – bullish price action trading into its apex where a break will be imminent. Points to consider, - Consecutive higher lows - 21 MA support - Key structural resistance - Oscillators above 50 - Strong volume influx KNCUSDT has established consecutive higher lows under key structural resistance; this gives us a bullish bias on the market. The Oscillators are both trading above 50, further solidifying the short term bullish bias. Immediate support, the 21 MA, in confluence with the .618 Fibonacci, if price retraces it must hold as this area is the apex. A strong volume influx is evident, it needs follow through which is a technical signal of demand being present in the market. Overall in my opinion, a retrace to the .618 Fibonacci will allow for a valid long, risk is defined at previous swing low. This is front running the break so discretion must be used upon management. What are your thoughts? Thank you for following my work! And remember, “If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” – Mark Douglas
Long
by AzizKhanZamani
UBER Short| 200MA| S/R Flip| Supply Zone| Range Support Evening Traders, Today’s analysis –UBER- breaking range support bearish, the immediate target is the supply zone upon a valid bearish retest. Points to consider, - Macro trend bearish - Range support S/R flip - 200 MA resistance - Oscillators below 50 - Volume below average UBER’s macro trend has established consecutive lower highs, this helps determine the directional bias on the market being bearish. Price action broke range support; a bearish retest of the level will solidify it as resistance, confirming an S/R Flip. The 200 MA is a strong resistance that is in confluence with range support. This further solidifies the bearish bias on the market. Volume is currently trading below average; an influx is likely at the test of the support zone, profit taking area. Overall, in my opinion, a bearish retest of range support will allow for a short entry with defined risk. Discretion in accordance to price action must be used upon trade managemen t. What are your thoughts? Thank you for following my work! And remember, “You will never find fulfillment trading the markets if you don't learn to appreciate and be satisfied with what you already have.” ― Yvan Byeajee
NYSE:UBERShort
by AzizKhanZamani
2
XRPBTC Supply Zone|Range Resistance|.618 Fib|Increasing Volume Evening Traders, Today’s analysis – XRPBTC- deviating from rage trading back into structure, immediate target is taking out local high for continuation. Points to consider, - Macro trend bearish (counter trend) - Support confluence (.618 Fibonacci/ supply zone) - Range resistance - Oscillators neutral - Increasing volume XRPBTC’s macro trend is bearish with major levels yet to be broken. The immediate trend has established a lower high, building a bullish structure, keeping in mind this is still counter trend from the dominant bearish trend. The support zone is in confluence with the .618 Fibonacci, this is coming from the recent bull impulse. Price is likely to retrace back before another leg up. Range resistance is a key level to close above, confirming this will increase the probability of testing daily resistance. Oscillators are neutral in respect to price, remaining above 50 gives a bullish bias on the market. The volume profile is increasing evidently, this needs to maintain for trend continuation. Influxes are likely when breaching key levels. Overall, in my opinion, XRPBTC is probable to test the support zone confluence. This will allow for a risk defined entry for a long. Discretion is to be used upon management of the trade. What are your thoughts? Thank you for following my work! And remember, “The process by which one accumulates money is so simple, yet so hard to implement for most.” ― Yvan Byeajee
Long
by AzizKhanZamani
CADJPY Short|S/R Flip Retest| Local Resistance| Daily SupportEvening traders, Today’s Analysis – CADJPY – impulse sell through technical level, rallies are to be sold into as the trend is bearish. Points to consider, - Macro trend bearish - Daily support (immediate target) - Local resistance (bearish retest) - Oscillators below 50 - Volume below average CADJPY’s macro trend is bearish with consecutive lower highs; this gives us a bearish bias on the overall market. The trends immediate target is daily support, which will be apparent after confirming a bearish retest of local resistance. Both oscillators are below 50; this signals weakness in the market, further momentum down is likely. Volume is clearly trading below average; an impulse is most probable at key technical levels i.e. daily support. Overall in my opinion, a bearish retest will allow for a short trade, risk has to be defined. Price action is to be used upon discretion. What are your thoughts? Thank you for following my work! And remember, “The four most dangerous words in investing are: This time it's different.” Sir John Templeton
Short
by AzizKhanZamani
EURUSD Long idea/planGood morning traders and a happy Monday. Fundamental analysis: Were starting the week off with some major data events coming out of both the US and Europe. Firstly we have the German Ifo Business climate (EUR) coming out at 09:00 GMT (my local time). This has the power to move the market a substantial amount therefore i will not be entering a trade until we see the results and the reaction of this data on the market. Secondly we have Durable goods orders (USD) data coming out at around 13:30 GMT. This also has the power to change the market price however, the consensus on this one is a lot lower than the result of the previous. I don't think we will see too much of a reaction on this but if we do i think it don' think it will be in favour of the USD. Technical analysis: As for the technical side of things price is making new higher highs and higher lows and this has been the case now since 10th June. You can see that a nice trend line has formed starting on 21st June. I will be playing off this trend line for the rest of the week as there are no major support/resistance lines for a while now. The next resistance which is a weekly resistance will be at 1.20767 (NEARLY 400 PIPS!!). The closest major support is at 1.04094 (290 Pips). In conclusion EURUSD is in a very strong uptrend and i will be waiting for the retest and rejection of the trend line this week. Data is also going to provide a big bias for me in terms of which way i am going. Have a good week of trading guys! Ethan.
Long
by Ethan_FX
USDCAD Impulse Sell|Structural Support|.618 Fib|Liquidity GrabEvening Traders, Today’s Analysis, - USDCAD – impulse sell into structural support where a relief rally is probable. Points to consider, - Trend oversold bounce - Structural support (trade location) - Local resistance (.618 Fibonacci Confluence ) - RSI swing low failure - Market structure needs to hold USDCAD’s impulse sell hit oversold conditions causing the market to bounce at structural support. This is a valid trade location, the impulse bull candle back into support signals a probable liquidity grab. Local resistance is in confluence with the .618 Fibonacci, a likely area for a bearish retest, price context will be important here. The RSI has a valid swing low failure, must hold above extreme for it to remain significant. Price breaking below structural support will coincide with the RSI back into oversold conditions. Overall, in my opinion, USDCAD needs to hold structural support for follow through. A long trade is valid with defined risk – the immediate target – local resistance. What are your thoughts? Thank you for following my work! And remember, “If you can learn to create a state of mind that is not affected by the market’s behavior, the struggle will cease to exist.” – Mark Douglas
Long
by AzizKhanZamani
4
EURAUD S/R Flip| .618 Fibonacci|Range Midpoint|Oversold BounceEvening Traders, Today’s Analysis – EURAUD- impulse break through daily support, reclaiming the level. A retest of structure must hold for continuation. Points to consider, - Oversold bounce follow through - Daily support (S/R Flip retest) - Range Midpoint (Immediate target) - RSI neutral - Stochastics overextended - Volume follow through EURAUD’s oversold bounce had valid volume follow through; breaking back into key daily support, a retest needs to solidify the level. The .618 Fibonacci as overthrow is in confluence with daily support, giving the level more significance upon a probable S/R Flip retest. Immediate target for EURAUD is the range midpoint; taking out this level establishes a technical higher high. The RSI is neutral whilst the stochastics has a valid sell cross. This signals a probable momentum shift aligning with the price action S/R Flip playing out. In context, volume had follow through from oversold conditions, this shows immediate strength in price action, market is likely to trade higher. Overall, in my opinion, the immediate trend is bullish as long as key levels hold. A long trade is valid upon the probable S/R Flip, risk needs to be defined. Price action must be backed with volume for continuation. What are your thoughts? Thank you for following my work! And remember, “He who knows when he can fight and when he cannot will be victorious.” – Sun Tzu
Long
by AzizKhanZamani
GBPJPY Short|Bearish Divergence|Range Support|.618 FibonacciEvening Traders, Today’s Analysis – GBPJPY- at a pivot point on the chart, price is likely to impulse down if dynamic resistance is respected. Points to consider, - Macro trend bearish - Resistance confluence - Oscillators diverging - Volume below average - Range support target GBPJPY’s macro trend has been putting in consecutive lower highs – this gives us a bearish bias on the overall market. Price is currently testing dynamic resistance; this area has multiple technical confluences, the .618 Fibonacci and market structure – putting more significance on the level. Oscillators are both diverging from price validating a bearish divergence. Price respecting the .618 Fibonacci will keep the divergences at play. volume profile overall is below average, a respect or break of the dynamic resistance will lead to a notable volume influx. Overall, in my opinion, range support is the immediate target if technical levels are respected. A short is valid with defined risk. Price breaking above dynamic resistance will negate the trade. What are your thoughts? Please leave a like and comment, And remember, “If you can’t take a small loss, sooner or later you will take the mother of all losses.” – Ed Seykota
Short
by AzizKhanZamani
USDJPY Short|Bearish Retest|Resistance Confluence|Local SupportEvening Traders, Today’s analysis – USDJPY- breaking down from structural resistance with bearish price action, further downside is likely. Points to consider, - Macro trend bearish - Impulse sell through level - S/R flip (bearish retest) - Bearish price action - Local support target USDJPY’s trend has put in consecutive lower highs giving the market a bearish bias. Price has an impulse sell through structural resistance; this shows a lot of weakness as price failed with bullish follow through. A bearish retest is likely to be confirmed as price respects the .618 Fibonacci. The 200 MA is also in confluence which further solidifies the resistance. The immediate price action looks weak; breaking dynamic support line will make the immediate target local support. Overall, in my opinion, bearish price action under structural resistance increases the probability of further downside. A short is valid with any rallies into structural resistance, this will allow for defined risk. What are your thoughts? Thank you for following my work! And remember, “Fear, inherently, is not meant to limit you. Fear is the brain’s way of saying that there is something important for you to overcome.” ― Yvan Byeajee
Short
by AzizKhanZamani
BNBBTC Dynamic Resistance|Double Bottom|200MA|.618 Fibonacci Evening Traders, Today’s Analysis – BNBBTC- establishing a double bottom and respecting its 21 MA, daily resistance will be the immediate target when price breaks range. Points to consider, - Dynamic resistance breached - Strong support confluence (Retest area) - 200 MA current resistance - Oscillators above 50 - Volume below average - .618 Fibonacci long entry BNBBTC has breached its dynamic resistance with a valid retest. This retest had multiple technical confluences, proving to be a strong support with a bull impulse move. Current local resistance is the 200 MA, BNBBTC needs to establish this as support for further upside momentum. Oscillators both are above 50, signalling bullish bias in the immediate market, this is likely to remain as long as price is in the upper range. Volume is below average, BNBBTC needs increasing bull volume when breaking key levels, this helps avoid false breaks. Overall, in my opinion, a retest and hold of the .618 Fibonacci will allow for a valid long with defined risk. Price leaving the range will make the immediate target daily resistance, this will change the overall market structure. What are your thoughts? Please leave a like and comment, And remember, “The obvious rarely happens, the unexpected constantly occurs.” – Jesse Livermore
Long
by AzizKhanZamani
5
CURLF Descending Broadening Wedge| Volume Influx| Technical HighEvening Traders, Today’s Analysis – Curaleaf Holdings, Inc. – as swing trade into technical target as US voting season approaches. - Macro broadening wedge - Dynamic Resistance broken - 200 MA support - RSI bearish divergence - Volume influx - Back test long CURLF has broken bullish from its macro descending wedge, initiating the pattern with a clear technical target. The break has put in a valid higher high, first sign of a probable trend change. The Dynamic resistance was broken with conviction; a back test will be in confluence with the 21 MA and the .618 Fibonacci. This will allow for a risk defined long entry The 200 MA is holding as support, price will remain bullish as long as it trades above. The RSI has a valid bearish divergence; this indicates a correction being probable to the .618, a clear trade location with technical confluences. There is a clear volume influx coinciding with the break of the pattern, follow through is required for continuation. Overall, in my opinion, CURLF has validated its macro pattern; a back test is a valid long entry with defined risk. On a fundamentally scale, this sector will be approaching voting, speculators are likely to be positon themselves for macro swings. What are your thoughts? “Win, loss whatever emerges in the short-term, place and manage your next trades untouched, unattached... always keeping your eyes on the long-term picture.” ― Yvan Byeajee
OTC:CURLFLong
by AzizKhanZamani
5
GBPUSD Short|Range Resistance| Overthrow| Bearish Retest| 200MA Evening Traders, Today’s Analysis – GBPUSD – range trading putting in a bearish retest with the immediate target range midpoint. Points to consider, - Overthrow (no follow through) - Range resistance confluence (200MA) - Range midpoint (Local support) - Oscillators neutral - Volume below average - GBPUSD’s immediate trend is bearish with consecutive lower highs. Price broke range resistance with no follow through (over throw), further solidifying the bearish bias Range resistance is in confluence with the 200 MA, price is putting a probable bearish retest here. The range mid-point will be the immediate target – local support. The RSI is neutral whilst the stochastics is in the upper regions, indication that momentum is stored to the downside in the market. Volume is trading below average, an influx is likely as price trades to the downside. Overall, in my opinion, GBPUSD is likely to test range midpoint as price action looks weak. A bearish retest is likely forming where a short can be placed with defined risk. What are your thoughts? Please leave a like and comment, And remember, “Genuine acceptance that there will be losses on your way to market success will greatly decrease the hurt when they eventually come.” ― yvan Byeajee
Short
by AzizKhanZamani
2
XLMUSDT Neckline Resistance|Inv. Head & Shoulders|Volume InfluxEvening traders, Today’s Analysis – XLMUSDT – breaking its neckline resistance, a retest will allow for a long entry with defined risk. Points to consider, - Trend bullish (higher lows) - Macros resistance breached (H&S Neckline) - 21 MA support (visual guide) - Oscillators overextended - Strong volume influx - Neckline retest (long entry) XLMUSDT’s immediate trend is bullish by establishing consecutive higher lows, a higher high has been confirmed by breaking neckline resistance. A retest of the neckline will confirm structural S/R Flip, solidifying the level and allowing for a risk defined entry. The 21 MA is immediate support; this can be used as a visual guide for trend continuation. Oscillators are both in overextended regions; a retest of the neckline will direct them back to neutral territory. Volume influx has been significant on the break of the neckline resistance. This indicates a true break of the level, continuation is highly probable. Overall, in my opinion, a long trade is valid with defined risk; an optimal entry will be at the neck line retest. The 21 MA is to be used as a visual guide for the trade. What are your thoughts? Please leave a like and comment, And remember, “Trade the market in front of you, not the one you want!” – Scott Redler
Long
by AzizKhanZamani
14