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Wicks

BTC at some support levelsLets look at BTC. Some people have been saying that its getting ready to take off again, so I wanted to do my own analysis. I've got three indicators I'm using here. - Wedges/channels (the thin green lines) - Fibs - the gold colored fib levels - Wick Strength - the oscilalator at the bottom First, Wedges. We can see that price is at the bottom of a wedge/channel. Its been pretty consistent on the plotted wedges that breakouts have been significant. However with the support of the Wick Strength as well as support of the 0.382 fib level, it looks like we might return to the top of the channel rather than crashing through the bottom. Next, Fibs. Fibonacci are one of my favorite technicals and popular for a reason. Look at all the times price has bounced right off a near-exact fib level! Recently BTC hit the 0.5 with a STRONG support. And here we are again at the 0.382. Looking left on this line we can see multiple wax and wick bottoms rejecting at this price point in recent months. Lastly, Wick Strength. I'm still learning this one as its new, but here's what I've seen. In up markets, Wick Strength is low, because there is constant downward pressure from all the bears. So the top wicks are long, and the bottom wick are short. (Indicating that bulls are stronger since wax is bullish, but bears still have a voice and top wicks are longer than bottom). In down markets, its the opposite, and the Wick Score goes up due to longer bottom wicks by the bulls. Here, Wick Strength is relatively high actually, and we're in a flag price action pattern. Looking like Wick Strength will come down as the market takes off bullish again. Just at thought! We'll see what happens. What do you think?
COINBASE:BTCUSDLong
by marketscripters
Bitcoin @ key support level: $41.7k. High liquidity zone nearingToday I was trading NASDAQ:MARA puts expecting breach of $41.7k. While that didn't happen during the day, my puts still have a chance over the weekend. Let's take a look at the possibilities. Let's look at this chart below: First let's look at the diamond top - this is one of the most bearish patterns in my opinion and a strong indication of a major trend reversal. Followed by the "h-pattern" - this is a mix of bear flag/ headshoulders and not a very known bearish pattern since it's basically a combination of a few bearish patterns. Easily identifiable as a lowercase H. Our key support here is $41711-ish. Take a look at the wick zone that I highlighted. That'll be pretty difficult to breach at first but if we test that level again, will be a major stop loss raid. Should be clear skies with no support till 40.6k. The real challenge is 40.1k. That dip will get eaten up reaaaalllll quick. There might already be limit buys in that zone. Easy money if you're daytrading here. There's soft support @ 41.4k but it'll be taken down quickly if we breach 41.7k. I'd be a strong buyer @ low 38k. While it's possible, I don't see a reason to slide to that level yet, unless there's FOMO-selling. The bull case is that 41.7k acts as a high liquidity zone and instead of being breached, it rockets from here. Given that possibility, I didn't swing a whole lot in NASDAQ:MARA puts. We'll see. As always, follow/ like/ support for some nice trades when market is open. I usually target AMEX:SPY NASDAQ:TSLA NASDAQ:AMD NASDAQ:NVDA NASDAQ:QQQ Cheers & GL.
COINBASE:BTCUSD
by kingdips
CHFJPY I Potential return to the previous structureWelcome back! Let me know your thoughts in the comments! ** CHFJPY Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
NZDJPY Headed Upward +250 Pip PotentialWelcome back! Let me know your thoughts in the comments! **NZDJPY - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Long
by BKTradingAcademy
11
AUDNZD Fall from BANK LEVEL ResistanceWelcome back! Let me know your thoughts in the comments! **AUDNZD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
2
EURCHF 4 Hr. Intraday Short Set Up!Welcome back! Let me know your thoughts in the comments! **EURCHF - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
1
AUDCHF I Retest the Support Area 60+ PipsWelcome back! Let me know your thoughts in the comments! **AUDCHF - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
6
WICK EXHAUSTION DBPWhen a Sniper sees this set up there is no hesitation. Let's watch the snipe entry take off for the Long. Wicks, Double Tops and Double Bottoms are very simple to identify in the market and very powerful. There is genius in Simplicity. Leverage this wisdom accordingly in the market. And your entry will present itself. Trade with the trend. The trends begin at these Macro PP areas in the market consistently every day. Never Over Leverage. Trust Your Trade Set Up. Have Fun! I Am Pro Trading Made Simple
Long
by Master-Jedi-Trader
2
EURAUD I Swing Downwards +100 pips!Welcome back! Here's an analysis of this pair! **EURAUD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
6
EURUSD Watch for Bounce from Demand AreaWelcome back! Here's an analysis of this pair! **EURUSD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
by BKTradingAcademy
3
CADCHF Swing I Headed down +150 PipsWelcome back! Here's an analysis of this pair! **CADCHF - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
2
AUDNZD I Short-term Buy & Strong Sell ComingWelcome back! Here's an analysis of this pair! **AUDNZD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Long
by BKTradingAcademy
2
AUDNZD Top of Ascending Channel Welcome back! Here's an analysis of this pair! **AUDNZD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy