Trapped sellers below monthly low!The sellers tried to sell below the monthly low and failed. Look for them to exit when price comes back to that zone : giving us a beautiful LONG trade.
Go for 2x risk.
Trapped
Is BTC Really Going Down?Well, what have we here. Looks like Bitcoin's dropped into a range between $9300 - $9500 on the 15m chart.
If you fancied it go for a bit of range trading between these values, keep your stops tight and, as always when range trading - TAKE YOUR PROFIT AND RUN. Just take what you're given and go!
Good Luck & Happy Trading
What happened with EURUSD (EXPLAINED and WHAT NEXT)Hello Traders !
We have seen EURUSD dropping a lot today. But WHY?
Actually we have seen there a nice daily level of support which was broken today. Also a Demand Zone. The thing this the Demand Zone became a Supply Zone due to the pressure from the sellers and pushed the price to the downside. We have seen that on the news today. They were good for EUR but it went immediately down which indicates us the pressure from the sellers.
What Next?
My thoughts are that the price will go up to the Supply Zone again. I don't see the Supply Zone very strong because the h4 close shows bullish pressure. We are right now at a daily level of Demand which is very strong. From this Demand Level I expect in all scenarios a push to the Upside. This Up Move is still confirmed by Elliot Wave.
The question right now is: Will it drop again from the Supply Zone? The answer to this question can only tell us Price Action . We need to watch it carefully. Also consider that all the retail Trader will short the EU at the resistance line which was the previous daily level of support.
My thoughts are to buy at the daily level at the bottom and to swing trade EURUSD to the upside or to scalp it till the Supply Zone.
Let me now in the comment section below your view on EURUSD and what you think about my Analysis.
Please leave a Like
Thank you and we will see next time
- Darius.
USDJPY Trapped!We've trapped USDJPY on the H1 chart. Theres only 2 ways this is going to play out now, all we have to be is patient and wait for the confirmation regarding the break of trend.
And remember, whatever USDJPY does, GOLD will do the opposite ;)
EURUSD Still Trapped in a Relentless Down-Trend - target 1.17218th May EURUSD Update
EUR made the counter-rally move back to the upper parallel
precisely at 1.1978 before falling away again. Having failed to
hold up at the 1.1910 level it is falling further as DXY
continues its long-predicted rally. EUR should fall to 1.1815
and then bounce to the upper parallel again before falling
away further still to 1.1721 as the month progresses.
Any bounce back to the upper parallel can be still be viewed
as another selling opportunity until the down-side target is
achieved. Whilst EUR remains trapped within this clearly
defined down-trend this pair remains a one way bet.
The trend has to get broken at some point though - only then
do we switch back to long again on this pair.
Just not yet awhile.
Bitcoin completed 4th Elliot Wave ABCDE CorrectionBitcoin (BTC) trapped bulls but the death cross already occurred above $11k resulting in a $5k drop in price, however since the price currently is at $7k, we are still in able to have one last V Bottom to complete the bullish case
XRPUSD is squeezing the weak longsThe breakdown of the XRPUSD from the big speculative top formation is readily apparent from the chart.
The market is driving towards the weak long holders' stop order pool to wash out weak longs. Until those trapped weak longs are washed out, we are not going to see price rallying above 2.4 dollar mark.
What I am looking for is a accumulation pattern below 1.4 dollar before switching my bias to the long side.
DXY Dollar Index - stay short $ whilst trapped within parallelsDXY: Dollar Index update: still bearish whilst trapped within the parallels (check 1 minute chart and draw in the parallels off the lows)
EURUSD - LongFriday has trapped short volume
once price breaks the 50 EMA and 200 EMA i can see a nice long scalp
USDJPY - Short ScalpTrapped volume in USDJPY for all long holders.
on the 4HR timeframe we have a nice Gartley Pattern playing out, and on the smaller timeframe have a perfect double top near the trapped volume area
