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Weeklyresistancebreakout

BTC Analysis: Downtrend Channel, Sharp Dip DROP Potential The price is currently trading within a descending channel. A strong weekly resistance level lies ahead. Increasing volume suggests buyers are waiting for lower prices to enter. A sharp drop in price is a possible scenario. Elaboration: The current market situation presents a bearish outlook with the price confined within a descending channel. This pattern indicates a downward trend, suggesting that sellers are in control. Moreover, the presence of a strong weekly resistance level ahead further reinforces the bearish sentiment. This resistance level acts as a barrier that the price has struggled to surpass in the past. Interestingly, despite the bearish trend, there is an increase in trading volume. This could be interpreted in two ways: Buyers' Accumulation: Buyers might be accumulating positions at lower prices, anticipating a potential reversal in the trend. Increased Selling Pressure: The rising volume could also indicate increased selling pressure, pushing the price further down. Given these factors, the possibility of a sharp downward movement, or a "sharp dip," cannot be ruled out. This sudden price drop could occur as buyers exhaust their strength and sellers regain control. Considerations: Market Sentiment: Pay close attention to overall market sentiment and news events that could influence price direction. Technical Indicators: Utilize technical indicators like RSI and MACD to identify potential trend reversals or continuations. Risk Management: Employ sound risk management strategies, including setting stop-loss orders and positioning sizing appropriately. This analysis is for educational purposes only and should not be construed as financial advice. Always conduct your own research and employ sound risk management practices before trading. IF DROPS: pay attention to the SELL trigger line and the first target might be the bottom of the channel. it will be also the breaking of the accumulation zone too which means strong momentum is needed in the market. IF RISES: pay attention to the BUY trigger and break out of the channel too and it could still the force of the weekly resistance and nearing the HALVING time too.
INDEX:SATSUSDShort
by solinash1
EUR/CHF Breakout Above Weekly Resistance 🦐Technical analysis of the EUR/CHF pair on the 4-hour time frame reveals an upward trend within an ascending channel. After reaching a recent low, the price action started to move higher, forming higher highs and higher lows. The ascending channel pattern formed as the price action created two parallel trend lines, one acting as resistance and the other as support. The price initially experiences rejection at the weekly resistance, this is a sign that there is strong selling pressure at that point. However, if the price can successfully break above the resistance, it can indicate that the buying pressure is stronger and that the upward trend may continue. In such a scenario, traders can place a long order at the break of the resistance, with a stop loss placed below the level according to the Plancton's strategy rules. It is important to keep in mind that the market can be unpredictable and traders should always have a well-defined risk management strategy in place as we teach in the Academy, as well as monitor the price action and any relevant news and economic releases that may impact the pair.
by InkyGrip
USDJPY on a retracement move 🦐USDJPY on the 4h chart reached the weekly resistance. The price after the bullish impulse started a retracement move and according to Plancton's strategy of the market will provide a sign of inversion at the 0.382 we will set a nice long order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
by InkyGrip
4
EURUSD testing a weekly resistance 🦐After our previous analysis, EURUSD has reached the weekly resistance. The market is retracing in a minor channel and according to Plancton's strategy IF the price will break above, at the retest of the structure we can set a nice long order. –––– Follow the Shrimp 🦐 Keep in mind. • 🟣 Purple structure -> Monthly structure. • 🔴 Red structure -> Weekly structure. • 🔵 Blue structure -> Daily structure. • 🟡 Yellow structure -> 4h structure. • ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
6
Elliott Wave Analysis: SP500 Is Nearing 2018 Highs In Gold PriceHello traders and investors! Today we will talk about stocks, specifically S&500 against GOLD (SPX/GOLD ratio chart), in which we see an interesting development we want to share. As you can see, stocks remain in the strong uptrend and there can be room for more gains, we just have to be aware of another, higher degree correction as S&P500 is approaching 2018 highs in gold price, clearly for the 5th wave. We know that after every five waves, a three-wave correction follows, so be aware of limited gains on stocks, while GOLD may find the support soon. Of course, it's a weekly chart and there's still room for slightly higher levels to break into 2018 highs, so it may take some time before we will see a change in the trend, ideally till the end of summer. Be humble and trade smart! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
SP:SPX
by ew-forecast
2
SP500 wants the 4400? 🦐SP500 on the weekly chart has recently broken the weekly resistance area. The market created a double bottom higher close formation giving us a hint of a bullish continuation. According to Plancton's strategy if the market will retest the support and the conditions will be satisfied we can set a nice long order. –––– Follow the Shrimp 🦐 Keep in mind. • 🟣 Purple structure -> Monthly structure. • 🔴 Red structure -> Weekly structure. • 🔵 Blue structure -> Daily structure. • 🟡 Yellow structure -> 4h structure. • ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
OANDA:SPX500USDLong
by InkyGrip
4
USOIL a new bullish attempt 🦐USOIL after a rejection of the resistance area consolidates between the 0.382 and the support at the 0.5 Fibonacci level. According to Plancton's strategy if the market will break above we will set a nice long order --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
TVC:USOILLong
by InkyGrip
6
GBPJPY will test the weekly resistance 🦐GBPJPY after the attempt to break above the weekly resistance retraced until the 0.382 Fibonacci level. The market tried to break below a daily support at the 0.382 fib area and now moving over an ascending trendline. According to Plancton's strategy if the price will break above we will set a nice long order. --- Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger. Apr 22 Comment:
Long
by InkyGrip
12
EURUSD posible scenarios 🦐EURUSD on the daily chart reached the weekly resistance at the 1.19 area. The price from here can provide us 2 possible scenario: If the price will break above and the conditions will be satisfied we can set a nice long order. If the price will turn and break below the 4h structure we will set a nice short order. ––––– Follow the Shrimp 🦐 Keep in mind. • 🟣 Purple structure -> Monthly structure. • 🔴 Red structure -> Weekly structure. • 🔵 Blue structure -> Daily structure. • 🟡 Yellow structure -> 4h structure. • ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
by InkyGrip
EURAUD breaking the resistance 🦐EURAUD after the recent lows started an impulse and reached the weekly resistance at the 1.50 level. The market after a minor retracement is now attempting the break and according to Plancton's strategy if the price will close above we can set a nice long order. –––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
6
EURUSD possible scenarios 🦐EURUSD on the 4h chart reached the weekly resistance at the 1.18850 area. The price from here can provide us 2 possible scenario: If the price will break above and the conditions will be satisfied we can set a nice long order. If the price will turn and break below the 4h structure we will set a nice short order. ––––– Follow the Shrimp 🦐 Keep in mind. • 🟣 Purple structure -> Monthly structure. • 🔴 Red structure -> Weekly structure. • 🔵 Blue structure -> Daily structure. • 🟡 Yellow structure -> 4h structure. • ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
by InkyGrip
2
EURCHF testing the weekly resistance 🦐EURCHF reached and got rejected by the weekly resistance. The price after a minor retracement inside a descending channel now moving for a new test of the resistance area . According to Plancton's strategy if the price will break above and the conditions will be satisfied we will set a nice long order. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
4
EURNZD a perfect long opportunity 🦐EURNZD after the lower low over the weekly support at 1.63500 has moved in a range below a weekly resistance and the 0.382 Fibonacci level. The price last Friday attempted to break above and according to Plancton's strategy, if the market will break above, we can set a nice long order. ––– Follow the Shrimp 🦐 Keep in mind. • 🟣 Purple structure -> Monthly structure. • 🔴 Red structure -> Weekly structure. • 🔵 Blue structure -> Daily structure. • 🟡 Yellow structure -> 4h structure. • ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
6
USDJPY for recent highs 🦐USDJPY after our last analysis reached the weekly resistance structure. The market retraced over a minor support and now testing for the 2nd time the structure. According to Plancton's strategy, if the price will break above, we can set a nice long order. –––– Follow the Shrimp 🦐 Keep in mind. • 🟣 Purple structure -> Monthly structure. • 🔴 Red structure -> Weekly structure. • 🔵 Blue structure -> Daily structure. • 🟡 Yellow structure -> 4h structure. • ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
8
AUDJPY on a bull flag 🦐AUDJPY after the recent highs retraced until the 0.618 Fibonacci level. The market from there started a new impulse until the weekly resistance. Currently, the price is consolidating below a minor resistance inside a bull flag and is attempting to break above. According to Plancton's strategy, if the price will break above, we can set a nice long order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
2
EURNZD on an inverted H&S 🦐EURNZD after a long downtrend inside a descending channel created an inverted H&S pattern. The market is now testing the neckline over the resistance and the top trendline for a nice market confluence. According to Plancton's strategy, if the price will break above, we will set a nice long order. ––– Follow the Shrimp 🦐 Keep in mind. • 🟣 Purple structure -> Monthly structure. • 🔴 Red structure -> Weekly structure. • 🔵 Blue structure -> Daily structure. • 🟡 Yellow structure -> 4h structure. • ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
8
NZDUSD testing. a weekly resistance 🦐NZDUSD after breaking the range between reached the weekly resistance at the 0.73250 level. The market is now testing a weekly resistance and according to Plancton's strategy, if the price will break above, we will set a nice long order, –––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
28
NZDCAD testing a weekly resistance 🦐NZDCAD after breaking the descending channel created an impulse until the weekly resistance. The market couldn't break above and currently retracing. IF the price will break above we can set, according to Plancton's strategy, a nice long order. --- Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
Long
by InkyGrip
6
CADCHF looking up 🦐CADCHF after our last analysis broke above the weekly resistance. If the market during next week will retest the weekly support over the 0.382 Fibonacci level we will set a nice long order according to Plancton's strategy –––– Follow the Shrimp 🦐 Keep in mind. • 🟣 Purple structure -> Monthly structure. • 🔴 Red structure -> Weekly structure. • 🔵 Blue structure -> Daily structure. • 🟡 Yellow structure -> 4h structure. • ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy
Long
by InkyGrip
10
AUDUSD on a bullish move 🦐AUDUSD on the 4chart broke the descending trendline of the channel and now testing the weekly resistance. The price is consolidating below the weekly resistance in an ascending triangle formation. According to Plancton's strategy, if the price will break above, we can set a nice long order. –––– Follow the Shrimp Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
14
AUDCAD testing a weekly resistance 🦐AUDCAD broke the descending trendline of the bull flag and is ready to test the weekly resistance According to Plancton's strategy, if the price will break above, we can set a nice long order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
8
AUDUSD on a bullish move 🦐AUDUSD on the 4chart broke the descending trendline of the channel and now testing the weekly resistance. According to Plancton's strategy, if the price will break above, we can set a nice long order. –––– Follow the Shrimp Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
8