Timeframes
Wall Street (DJI) - analysis of trends today. I go through a number of time frames and explore the price action and probabilities.
No predictions, No recommendations. I'm short on this market at this time.
Disclaimer: Your losses are your own. This means you sue yourself if you lose your money.
NZDUSD Mark UpI do not trade the New Zealand Dollar/US Dollar. However this is just a quick mark up of what I noticed by glancing at it.
BTCUSD Mark UpI feel like I haven't viewed Bitcoin in awhile. However, these are my areas of interest which I'll track for the time being. Things can change as price move forward but BTC emerged from my HTFZ (8783.3) and now approaching a new level (9640 - 9700). If the new level is respected then that means a short opportunity should present itself, and if engulfed then I would wait for price to end up on the opposite side. We shall see.
Euro Dollar / US Dollar Mark UpEU was making classic LHs & LLs on the Daily chart which led price right into a HTFZ (1.0820 - 1.1016) where price not only reversed but broke out of a bull channel. Although I'm bullish I would like to see price dip back down around the 1.0991 - 1.1035 levels before a strong rally happens.
Since EURUSD engulfed a zone on Friday's closing candle I would look to see if Sunday's open start above the 1.1163. If so, I would look for price to retest that level before going long. I also would reference the previous LHs for areas of take profits instead of trading price to the next level which starts at the 1.1736 point. We shall see.
NOT TRADING ADVICE!!
British Pound / US Dollar Mark UpGU's price is approaching a HTFZ (1.3000 - 1.3170) while in a bear channel along with bullish momentum from LTFZs and off a PPZ. If the barrier is respected then I would be bearish for the upcoming week(s).
I try not to base my analysis off of any indicators, but I will say that I noticed the RSI divergence being shown on the 4H chart as far as price is printing HHs & HLs while the RSI is showing LHs & LLs.
What I would look to do is short GBPUSD right before price reaches the next 'fresh' subsequent level (1.2195 - 1.2330) which is also a HTFZ. The 1.2400 price would more than likely be my TP which is right above a HTF diagonal support. However, since it's a nice way down I would scale price instead of riding it completely to the next zone.
If price happens to breach & ultimately engulf my barrier then I'll patiently wait to react on the opposite side. That also will give me clues to the bias possibly changing too. We shall see.
NOT TRADING ADVICE!!
Dollar Index Mark UpI'm usually Neutral since I look to go with the flow of price. However, I am bearish with the DXY considering that it's repelled from my HTFZ, dropped below a PPZ, broke diagonal support and correlation through multiple time frames. My next barrier is between $95-$96 so I'll continue to track price and update as everything unfolds. We shall see.
NEVER TRADING ADVICE!
GBPUSD Mark UpThis is my British Pound/US Dollar mark up, at times I leave engulfed levels on my charts as reference points. However, price not only blew through a HTFZ but even my HTF diagonal resistance, but price is also approaching a huge barrier beginning at the 1.3000 level. I'm always Neutral.
P.S. Do you see the pattern?
NOT TRADING ADVICE!!!
BTCUSD Mark UpDateFrom September 24, 2019 'til now bitcoin's price has been ranging within a HTFZ ($7435-$8783). The swing low of the move ($7793) took multiple hits which gave price momentum to start printing HHs & HLs. Price action was able to form a new untouched zone ($8188-$8182) which should give the highest probability trade. However, there's barriers waiting to stall price on it's way up.
If price dips in the zone, I would long it from $8282 to $8783 which is the starting point of the HTFZ. If price can break above the $8783 level then I would look to enter again on a retest to ride it to the next barrier which is $9531.
If price were to engulf the zone ($8188-$8182) I would wait for a B.A.R to short it to the swing low ($7793). It's imperative to be flexible.
NOT TRADING ADVICE!!!
GBPAUD Mark UpThe full extent of the move is 83+ pips and to the 50% PRZ it's 41+ pips. For my standards, both are great amounts, but I'm doing my due diligence at keeping my greed in check. However, I would "eat chunks" out of the move by scaling in on price. If it don't reach the zone and it continues to tank then I'll adjust my approach. I would wait for a B.A.R to execute from the swing low of the move. We shall see.
NOT TRADING ADVICE!!!
GBPJPY Mark UpBritish Pound/Japanese Yen is heading right towards a barrier. There's an engulfed zone that I left up for reference purposes only and the white represents a PPZ. I like to remain Neutral so I can adjust if need be, but we shall see.
GBPUSD Mark UpThese are my levels I'll track for this trading week for GBPUSD. I'll adjust as price unfolds, but I would look for price to break down pass the PPZ, funnel through the channel 'til it reaches that support at the 1.2265 level. Breakout traders will more than likely enter a short position once price breaks the 1.2265 level, but they'll be selling right into a zone where there's willing buyers. However, even though a smaller zone formed within the HTF zone that doesn't mean it'll hold since the zone technically has been hit previously. We shall see.
NOT TRADING ADVICE!!!
GBPUSD Mark UpI would like to see one more dip in that level before an even bigger rally takes place. Nice pip range between these two levels. We shall see.
GBPJPY Mark UpI see price is approaching a new level, but let's see what happen. Top levels been engulfed, but I keep 'em up for reference.
GBPAUD Mark UpIf price make it to the upper zone I would look to short to the 50% PRZ (1.8338). It's currently in a channel, and usually you can locate reversal zones if you were to scale down to the LTFs.
BTCUSD MarkUpLooking at Bitcoin's current price action I would look to short when price reaches between 10328 - 10355. The long wick that touched the 10400 level hit an OB higher up then price formed an OB right underneath. I would take that short to 10146.
P.S. All blue lines (except for the one right above current price) are engulfed OBs. Left 'em up for reference.
NOT TRADING ADVICE!!!
ROKU MarkUpSimply put, with ROKU's current market price I would be bearish. I'm noticing a correlation between multiple time frames, and when it cascades like this it will more than likely move in that directional sentiment.
BTC End of Accumulation? Target 16.2kWe are clearly in an huge accumulation phase right now after the run up to nearly 14k, is it over that is the question? 12.3k is my first large profit taking region, accumulation might be over but you never know for sure, the market doesn't care about what you think will happen so always take profits. The solid lines are untested levels where rejection will occur to some degree and the dashed lines are tested levels where price can go right through. Red are daily levels, blue are weekly and white are monthly. My entry was on the weekly level 9.4k and stop loss below the daily at 9k. Price has rejected nicely off the weekly at 9.4k a weekly rejection will target a weekly level, but the large resistance could stop us again. In past bull markets accumulation has lasted 4 months. Trade at your own risk!
GBPCAD Mark UpDateGo to my published GBPCAD post from yesterday then come see how it played out thus far. Price peaked out at 56.9 pips so a little over 45 more pips to go before it reaches my zone that's higher up in price. Then I would be looking for a short opportunity to occur. We shall see.
