Example of Slope Lines and how they plot resistance and support in trending markets.
ADAUSD is in a consolidation pattern and I am awaiting confirmation for a continuation of its upward trend or a confirmation of a retracement down to the bottom of the channel.
Trading idea for Dogecoin. Short down to $0.16 (50% drop) upon confirmation on 4H against the average price line. (1) Currently in a potential descending triangle pattern (consolidation). (2) Rejecting off of the moving average for a 2nd time, hinting at downward movement. (3) Short-term resistance in this range has been hit a 2nd time, indicating downward...
Current status of the market-maker cycle (Master Pattern) with BTCUSD. It's currently in the trend phase (to the downside). Trend phase can end at $30k to bounce and continue its uptrend, eventually testing the Average Price line at $58k, OR the current trend phase can continue to break-down to the next tier, currently set at $20k. Plotted are a few different...
If $30k holds, BTC will seek out $50k, with a $125k target in mind. If $30k fails, $20k is the floor that needs to be tested. BTC has maintained a constant uptrend since its inception. Long-term prospects for next target ($125k) are still good as long as BTC remains above $12k. Anything lower will indicate changing trend and should flush out many...
I have outlined a few different trajectories BTC can take in the coming years. Currently, it is still very bullish, and dips should be bought at low points with accompanying tight SL. Color of arrows indicate a changing sentiment when price starts trading around those areas. In the short-term: 1) Its likely BTC can reach $75k, then expect: A. Retracement to...
Neutral day-trading entry points on BTCUSD.
Looks like BTC is in an ascending triangle at the top of an upward parallel channel. Within this pattern, BTC has broken a short-term uptrend within a larger downtrend. My analysis says this will likely go down to retrace a bit, before making a decision to go up into the upper-channel resistance zone, or to make a bigger move downwards.
It's time for a monster sell on FX:USDJPY ! Even as I write the thing just keeps going down faster than I can get the idea published! As highlighted: big head & shoulders pattern that coincides with the top of the down parallel channel. And price is loitering in a liquidity zone / resistance area. I'm expecting this to go down to the very bottom (blue line)....
Some potential FX:GBPUSD trades to jump on after price action verification. Market is in a downtrend on the 4H but showing some bullish action. We're getting repeated hits at the current resistance level so I'm expecting some pressure to be released on the upwards to the thin pink line and then possibly to top blue resistance level for a test (more likely a...
Still in downtrend. Looking for scalp opportunities based on these channels. Price is biased towards heading down to purple support line so be on the shorting persuasion. Remember to use breakeven stop-loss after some time in profit and to use TP1 and TP2 for more profits. You can also scale into your sell position by selling now, and then sell again at the top...
Updated chart to reflect recent breakout. Outlined places of interest for higher probability trade setups. Be careful of the long trade setup in the middle as it's riskier and price will be inclined to drop lower after hitting the top of channel. If you do open up a buy trade make sure to use a breakeven stop.
We've all been stuck in the battle of staying out of the market to expect a "crash" which is really just a retracement. The world has yet to see the once in 100 years "Grand Crash" which will completely devastate the global economy, and that only happens when the S&P 500 starts trading below $1,450 with the new target down to $520. Instead of only looking for...
XRP is in a falling wedge. Price will go up to purple resistance line. If break, then up to red resistance $0.40. If we break the top red resistance, expect a big, big rally up to purple line at the very top. Big money move. But most likely XRP will hit purple line, possibly top red resistance, then fall down to the bottom red resistance. At which point if it...
EURUSD formed small uptrend overnight. Still contained within larger downtrend. Scalping opportunities are shown here. Careful with pullback sell, only sell when momentum drops as we are in uptrend at the moment. Use smaller lot size.
There are quite a few opportunities I'm looking at. Price is at top of downward channel (amidst being in a falling wedge on larger 4H). Looking for sell opportunities but being mindful if price try's to breaks above 1.1110 (thick red line) then momentum can surge to blue trend line. If price pushes past blue trend line then we are officially breaking out of...