Technical
Sell IdeaHello traders, in today's trading session my team and I are monitoring GBPJPY for a selling opportunity below the 160.604 price level, once we get a bearish breach the pending order will be activated.
Pip Regards, DayBot6.
PS: Kindly COMMENT on what you think of this idea. Also LIKE, if you do.
Testing TimeS&P500 has moved to the upper pink zone. Will it show the strength to move beyond this region and head for an ATH?
The broad pink zone is an area of support and resistance where prices have previously moved indecisively i.e. lack of clear direction/whipsaw.
This could be the last chance for Bears to stop the Bulls from re-claiming a new ATH!
🤖 #BTCLIVE - 15.08 - #IDEA 🤖🤖 #BTCLIVE - 15.08 - #IDEA 🤖
Snapshot:
Short-Term
30:70- Bullish:Bearish
Long-Term
50:50 - Bullish:Bearish
Technical Analysis:
Bullish Scenario:
Alot of bearish sentiment, mainly short term would suggest a move down to $23.6k especially with the 3rd rejection from $25k andsell orders coming in - there could be a strong rally at this position to fend off breaking down on the ascending wedge which would likely drive price for another test of $25k this would be incredibly bullish and somewhat of a make or break push. A break and hold above $25k puts $27k and $30k as realistic targets.
Bearish Scenario:
Short term movement down to $23.6k is likely for the local support although there could be a lot of defense at this position a breakdown and confirmed retest can see price sing quite quickly to $22.6k where the next strongest zone of support lies, max pain in the move can still push us down to $20k region which is where the bottom of this long term channel/range lies.
Bullish Factors:
+ Weekly Pivot already filled
+ 200EMA is supporting
+20 & 50 DEMA doming to support at the key trendline support
+ Transfer Volume turned positive
+ Active Addresses turned positive
Bearish Factors:
- Bearish Divergence on the 5min
- Bearish divergence on the 4hr
- Bearish Divergence on the 1hr
- Restesting resistance
- Strong Sell Orders
- Broken through 20 and 50 EMA
- Hard rejection from 25k for 3rd time
- Exchange Netflow Total turned negative
- Liquidation turned negative
Key News:
Bull:
+ ETH Merge causing bullish sentiment market wide
+ 💥Revolut gets approval to offer #Bitcoin and crypto in the European Economic Area.
+ Judge grants Ripple’s request to review videos of SEC officials (cryptopanic.com)
+#Crypto exchange Gate.io has been granted a virtual asset custodial services license in Hong Kong.
+ Europe’s largest independent tyre re-treader, Vaculug, will accept #Bitcoin for payment!
Bear:
- $ETH: The “Merge” Protocol Upgrade Will Not Lower Ethereum’s Gas Fees
- Hackers printed 1.2 billion $AUSD on the Acala Network through an exploit.
- Brazilian #crypto lending platform BlueBenx halts withdrawals following a $32 million hack.
Metrics:
Exchange
- Exchange Reserve - As the exchange reserve continues to rise, it indicates higher selling pressure.
- Exchange Netflow Total - Net deposits on exchanges are high compared to the 7-day average. Higher deposits can be interpreted as higher selling pressure.
Miners
/ Miners' Position Index ( MPI ) - Miners' are selling holdings in a moderate range compared to its one-year average.
/ Puell Multiple -Miner's revenue is in a moderate range, compared to its one-year average.
On-Chain
+ aSOPR - More investors are selling at a loss. In the middle of a bear market, it can indicate a market bottom.
+ Binary CDD - Long term holders' movement in the last 7days were lower than the average. They have a motive to hold their coins
+ Net Unrealized Profit and Loss (NUPL) -Investors are in a Fear phase where they are currently with unrealized profits that are slightly more than losses.
+ Transfer Volume - The total number of coins transferred has decreased by 31.00% compared to yesterday.
+ Active Addresses - The total number of active wallets used to send and receive coins has decreased by 13 .00% compared to yesterday.
+ Transactions - The total number of transactions has increased by 26.00% compared to yesterday.
Sentiment
+ Coinbase Premium - US investors' buying pressure is relatively strong in Coinbase.
- Korea Premium -Korean retail investors' buying pressure is relatively strong.
- Fund Premium - Investors in funds and trusts including Grayscale have relatively weak buying sentiment.
Derivatives
+ Funding Rate - Long position traders are dominant and are willing to pay to short traders.
+ Taker Buy Sell Ratio - Selling sentiment is dominent in the derivatives market. More sell orders are filled by takers.
/ Open Interest - As OI increases, it indicates more liquidity, volatility , and attention are coming into the derivative market. The increasing trend in OI could support the current ongoing price trend - Last Value: 9,142,523,051.97 24H%: -8% 7D%: -9%
- Liquidation - 42921463.65 of short positions were liquidated in the last 24 hours.
🤖 #BTCLIVE - 13.08 - #IDEA 🤖🤖 #BTCLIVE - 13.08 - #IDEA 🤖
Snapshot:
Short-Term
40:60- Bullish:Bearish
Long-Term
60:40 - Bullish:Bearish
Technical Analysis:
Bullish Scenario:
Defending against this double top and holding above ideally $24k.1 but mainly $23.6k to not confirm this double top would be the most bullish play we can hope for - this would likely require alot of volume to come in and would create quite a high bullish conviction given alot of the bearish markers. Immediate targets in this case would be $25k and then $27k - although don't be too fooled by the short term bearish sentiment a break out here could be absolutely massive with a realistic $30k on the cards.
Bearish Scenario:
A slightly more favourable outcome atm, given that we are filling out a double top pattern quite nicely along with a confirmed bearish divergence perfectly on the 2nd top. immediate target if we break down on $24k will be the key support at $23.6k, then $23.1k and then $22.6k - this could quite easily continue down.
Bullish Factors:
+ 20, 50 DEMA in close proximity for support
+ Holding key support and $24k support holding
+ On 50 EMA and HMA and support
+ Bullish CME Gap closing in
+ Exchange Reserve turned positive
+ Transfer Volume turned positive
+ Active Addresses turned positive
+ Relatively minimal FUD
Bearish Factors:
- Poor weekend volume
- Double Top pattern in play
- Bearish Divergence confirmed
- Strong upper resistance
- $25k resistance
- RSi Pullback Signal
- Bearish POC & Future Weekly Pivot forming
- aSOPR turned negative
- Taker Buy Sell Ratio turned negative
Key News:
Bull:
+ ETH Merge causing bullish sentiment market wide
+ "We are fully ready to regulate cryptocurrencies, says CFTC Chairman" t.co
+ 💥NEW: Union Bank of the Philippines to enable users buy #Bitcoin and crypto from its app!
Bear:
- SEC going after hedge funds for crypto
- France inflation reaches 6.1%, the highest it’s seen in 37 years.
- Spain inflation reaches 10.8%, the highest it’s seen in 38 years.
Metrics:
Exchange
+ Exchange Reserve - As the exchange reserve continues to fall, it indicates lower selling pressure.
+ Exchange Netflow Total - Net deposits on exchanges are low compared to the 7-day average. Lower deposits can be interpreted as lower selling pressure.
Miners
/ Miners' Position Index ( MPI ) - Miners' are selling holdings in a moderate range compared to its one-year average.
/ Puell Multiple -Miner's revenue is in a moderate range, compared to its one-year average.
On-Chain
- aSOPR - More investors are selling at a profit. In the middle of a bull market, it can indicate a market top.
+ Binary CDD - Long term holders' movement in the last 7days were lower than the average. They have a motive to hold their coins
+ Net Unrealized Profit and Loss (NUPL) -Investors are in a Fear phase where they are currently with unrealized profits that are slightly more than losses.
+ Transfer Volume - The total number of coins transferred has increased by 14.00% compared to yesterday.
+ Active Addresses - The total number of active wallets used to send and receive coins has increased by 22.00% compared to yesterday.
+ Transactions - The total number of transactions has increased by 4.00% compared to yesterday.
Sentiment
+ Coinbase Premium - US investors' buying pressure is relatively strong in Coinbase.
- Korea Premium -Korean retail investors' buying pressure is relatively strong.
- Fund Premium - Investors in funds and trusts including Grayscale have relatively weak buying sentiment.
Derivatives
+ Funding Rate - Long position traders are dominant and are willing to pay to short traders.
- Taker Buy Sell Ratio - Selling sentiment is dominent in the derivatives market. More sell orders are filled by takers.
/ Open Interest - As OI increases, it indicates more liquidity, volatility , and attention are coming into the derivative market. The increasing trend in OI could support the current ongoing price trend.
+ Liquidation - 65354916.17 of short positions were liquidated in the last 24 hours.
GBP USD BUY (LONG) ANALYSIS After seeing an impulsive move taking out equal lows on a 4hr time frame .
Thus forming a demand order block
i see liquidity below that can be taken out into the order block that i have refined to the 15 min timeframe.
Please if you find my analysis useful please leave a comment .
USD CAD SELL (SHORT) ANALSIS Hello traders this is my analysis on usd cad
we see they have taken out trendline liquidity with an impulsive move creating a fresh supply zone
I did my analysis on a 4 hr time frame but have refined it to a 15 min time frame
Once price reaches our supply zone , enter after seeing change of character (choch) on a smaller timeframe like 1 min or 5 min .
if this analysis has been useful please leave a comment
Shooting Star Candlestick
What is the Shooting Star Pattern?
1. A shooting star is a type of candlestick pattern which forms when the price of the security opens, rises significantly, but then closes near the open price.
2. The distance between the highest price of the day and the opening price should be more than twice as large as the shooting star’s body.
What does Shooting Star tells you?
1. Shooting stars signals a potential downside reversal and is most effective when it forms after 2-3 consecutive rising candles having higher highs.
2. A shooting star opens and rises strongly during the trading session, showing the same buying pressure that is seen over the last trading sessions.
3. At the end of the trading session, the sellers push the price down near the open.
4. This shows that the buyers have lost control by the end of the day, and the sellers have taken over.
5. The long upper shadow indicates that the buyers are losing position as the price drops back to the open.
6. The candle after the shooting star gaps down and then moves lower on heavy volume.
7. This candle helps in confirming the price reversal and indicates that the price will continue to fall.
Trading Scenario
1. Trade Entry: Before you enter a shooting star trade, you should confirm that the prior trend is an active bullish trend.
2. Stop Loss: You should always try to use a stop-loss order when trading the shooting star candle pattern.
3. Taking Profits: The price target for this trade should be equal to the size of the shooting star pattern.
Limitations of Shooting Star
1. One should not only rely on a candle pattern like in a shooting star for making trading decisions.
2. This is why confirmation is required, one can confirm by the next candle or other technical analysis indicators.
3. One should also use stop losses when using candlesticks to control the losses.
4. A candlestick pattern is more significant when it occurs near an important level signaled by other forms of technical analysis.
FOREX GOLD XAUUSD SUPPORT AND RESISTANCE LEVELS ||08/08/2022FOREX GOLD XAUUSD SUPPORT AND RESISTANCE LEVELS ||08/08/2022
GOLD SIGNALS
FOREX LEVELS TODAY
TODAY GOLD LEVELS
BUY SELL GOLD
#forex #gold #xauusd #xauusdsignals #technicalanalysis
Mercury Technicals is not an investment advisory service, or a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities customers should buy or sell for themselves.
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We would be happy to hear your comments
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This indicator is really easy to use for it utilizes the RSI and its levels between oversold and overbought while also utilizing the territory in the Bollinger Bands original strategy. Entry comes when the RSI crosses the red line on the chart and in reverse you could possibly close when the RSI reverse crosses during trade or you could use it in confluence with another indicator to confirm it's entry and exit such as the super Bollinger bands
If you're still struggling with Trading or still blow accounts, or get little if any profits AT ALL from your Trading....
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GBP USD BUY (LONG) ANALYSIS After an impulsive move to the upside a 4hr order block has been formed .
I refined my order block to 1 hr. timeframe
I know the market is attracted to liquidity so most likely will come to take out the equal lows liquidity then into the order block .
Enter after confirmation on a lower timeframe
if you have found my analysis helpful please leave a comment below .
Fri 5th Aug 2022 USD/JPY Daily Forex Chart Buy SetupGood morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a USD/JPY Buy. Enjoy the day all. Cheers. Jim