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Themarketnight

BTC USD UpdateThis morning's sessions have steadily pushed BTC into the 4-hour Bearish Order Block, with a key level at 59,570.62. If we lose this level, we could shift to a bullish bias or enter a C-leg pullback mode, targeting a high of exactly 70,000.00. In summary, if the NY session breaks through the 4H OB, we'll look to scalp long, focusing on 5-minute structure pullbacks for quick in-and-out trades while leaving runners. Conversely, if the OB holds and we see a downward move, we’ll scalp short within the 5-minute ranges. There isn’t much to go on right now, but charts are rarely perfect. Stay flexible and ready to adapt to what the market presents.
COINBASE:BTCUSDLong
by themarketknight
EUR USD UpdateOn EUR/USD, major fundamental news is behind us for this week. Currently, the market stands at premium prices, which means no long trades for us at the moment. The crucial level in our current range is the 1.08736 area, known for single prints, indicating a heavy buying area with only offered buys. From an algorithmic standpoint, this level is typically filled 80% of the time and often elicits a significant reaction. While this doesn't necessarily signal a market rotation, it's worth keeping an eye on. We also use imbalances as scalping targets, but we missed that trade and are on standby this week. There's nothing to offer you guys right now. Remember, 90% of traders lose money because good trades are only available 10% of the time. We’ll reassess the market tomorrow around the NY session. Stay patient and let's stay sharp.
Long
by themarketknight
1
BTC USD UpdateAfter long day of waiting for liquidity and staring at the screen for countless hours, we experienced two great bullbacks today. The only issue is that these movements occurred in the middle of the range, which goes against our trading rules. The worst level to enter trades is around the 50% mark of the range. Therefore, we are patiently waiting for tomorrow to see if the market gives us a clearer direction, either higher or lower. The worst-case scenario would be if the market starts moving during the night while we’re asleep, causing us to miss the opportunity. Stay alert and let’s aim for a decent trade when the conditions are right.
COINBASE:BTCUSDLong
by themarketknight
BTC USD IdeaWe have finally closed our BTC short trade amidst a potential market rotation. While there is no definitive market shift yet, we are currently trading at a deep discount within the weekly range. Therefore, the strategy is to avoid assuming a bearish stance prematurely. As long as Bitcoin remains within this range, our decisions will maintain a bullish bias. Let's stay calm and observe the market's behavior, focusing on the 4-hour structure, and preferably waiting for daily confirmations before making further moves. We will continue to share our trade ideas on our favorite pairs, so stay tuned! Let's make the most of the opportunities ahead and crush it!
COINBASE:BTCUSDLong
by themarketknight
EUR USD IdeaAfter a long-anticipated summer on the EUR/USD 4-monthly chart, we have finally observed a confirmed bullish structure, coinciding with a fundamental decline in the dollar. This marks an exciting opportunity to start capturing swing trades. However, at present, we need to wait for 4-hour pullbacks. I am extremely excited to be back on the forex charts after this extended break. Given the current market conditions, it's not prudent to engage in trades while the dollar's weekly and monthly candles are printing back-to-back rangebound formations. Our strategy is to commence trading once these ranges break into definitive trends. Stay tuned for our upcoming swing trade ideas. Be patient, and let's make the most of these market opportunities!
Long
by themarketknight