FarhanVirk

FarhanVirk

1. Sitting on strong support 2. Daily Stoch RSI oversold 3. Awesome Indicator indicating trend change 4. Range Bound on H4 Both price action and indicators are pointing towards the top of the range. Volume profile is not conclusive.

FarhanVirk

Simple price action strategy applied. It's in a bullish channel with a good RR.

FarhanVirk

I think Gold will tend to follow the parallel channel with it's fixed range for a while.

FarhanVirk

Biggest confluence is the parallel channels. Naked POCs above the range Oversold RSI Bottom of BB Bottom of Channel Stoch Daily Bullish RSI divergence

FarhanVirk

How I reached this? 1. Monthly and Weekly R/s 2. Parallel Channels 3. Obv 4. Npoc 5. Supply and Demand Range Although structurally it is very bearish but i can sense a reversal soon with a good R/R ratio

FarhanVirk

OBV showing bearish divergence Supertrend also bearish Although a break out from previous range but volume not good enough Possible head and shoulders type formation Also at a monthly and weekly resistance Range top, has to go for supply zone

FarhanVirk

In my opinion, BTC has made the current low of this impulse based on fibonacci extension and fib time, It is now likely in a harmonic pattern which based on fibonacci time can make move like this in short term.

FarhanVirk

Based on fibonacci levels and Stoch RSI, I believe GBP USD is primed for a short, Possible target levels are mentioned. GBP USD has reached -0.618 of previous fibonacci impulse and a strong correction is now over due

FarhanVirk

BTC has remained in this channel since 2 days, It has jumped from fib 618 as expected which shows it is a continuation of previous 36500 wave, it is likely to move higher. A strong jump towards R2 might be expected at 35950 in the next hours. Be wary of this channel as if it breaks down, things may start looking as a bit of bearish reversal.

FarhanVirk

I believe BTC could make a jump from 0.618 Fib based on my analysis, if not then 31600 otherwise it will cross go further below, yet i think a reversal might be on the books.

FarhanVirk

Price likely to reverse from 618 Fibonacci and going up again.

FarhanVirk

Bitcoin has failed to cross the fibonacci 0.618 and R1 has also been achieved, it has not come closer to the pivot 31700 since the day began, in my opinion it will most likely move lower probably after touching R1 again and getting rejected and reach the Pivot before the next 10 hours, this is my short term trade analysis. For longer time frame, I consider this...

FarhanVirk

There is strong resistance as the confluence of both daily and weekly pivot is close. The market will slightly move up but overall i predict a bearish drop to S3 unless the pivot points get crossed. 90% bearish possibility