ChartAddicts

ChartAddicts

4Hr Time Frame: Notice how price is ranging in between our support and resistance zones. Price is now back at 1730.000, a previously respected zone. Notice how price reacted in the past. If price maintains below this sell zone, then we can look to do the same thing again. Reading structure, price is creating multiple Ms or double top formations. 1Hr Time Frame:...

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4Hr Time Frame: Price is back at strong areas of resistance. By reading price action we can see that price tested this area in the past, showed signs of rejection and had a reaction to the downside. Reading structure price looks as if its ranging in between our support and resistance zones above (gray boxes). If price manages to hold below this strong area of...

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Daily Time Frame: Price is approaching areas of resistance at 69.000 key psychological. By reading price action we can see that price had a strong reaction when it tested this resistance area in the past. Notice the strong bearish engulfing and wick rejections (pointing to the upside). If sellers are still at this zone, then we can anticipate them protecting this...

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USDCAD: broke below 1.39750 key psychological and snapped back above support (fake out). Price managed to close off a strong daily candlestick which engulfed six days of daily price action (notice the size of the daily engulfing). Scaling down to the 4hr time frame we can see price ranging between 1.39500-1.45000. Also notice how price broke above this down...

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Daily Time Frame: We can see price creating a double bottom formation at 107.000 key psychological support. Also notice on the second bounce how price created a morning star reversal formation. Scaling down to the 4hr time frame, we can see that this market has been ranging between 107.000-109.000 key psychological. If price comes down one more time to 107.000...

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Daily on the left and 8hr on the right. EURGBP setting itself up, should be interesting to see how this plays out. Price broke above and is now testing a strong area of support/resistance. On the daily we can see how we managed to close off a double bottom formation with 2 pinbar rejection candles, showing signs of potential reversal to the upside. By scaling down...

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Daily on the left creating a series of higher highs and higher lows. Price also crossed above our 21 ma and is looking bullish by the daily closures. Also notice how price managed to break out of consolidation 67.500. If price comes back to retest this area as new support look to buy to 70.000-500 key psychological. If price violates this 67.500 zone, we can...

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USDCAD: Another juicy pair setting itself up for the week. Breaking it down we can see how the daily is creating a double bottom formation at 1.39500 key psychological support. Reading the candlesticks notice how we start to slow down as we approach this area. Though we do not have any indication to get in just yet, we might have to hold off for more daily...

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BTCUSD: Testing strong areas of resistance, once tested as previous support. By reading the weekly candles, we can see how confident bears are looking compared to bulls. Reading the current weekly candle (higher the time frame, the higher the probability price will play in your favor.) notice how strong the rejection is (size of wick) if price stays below 7100.00...