Strong support has been holding the price for quite sometime and it was broken last week by a strong momentum.
This showed the seller presure is getting stronger, however we cannnot anticipated the market emotionally.
The price is either going your way or not. Thus, always be prepared with at least 2 plans.
Gold price dropped with a strong momentum last week, showing a bearish market on gold.
During a strong price momentum, it is always a danger to execute against the trend.
However, gold reached a very important point with multi confluences.
Current gold price is playing in the daily shifting zone as well as the third point of daily ascending trendline.
There are...
BTC marked its highest price on November last year.
This shows that on the higher timeframe, BTCUSD has the probability to go higher from its current price after a massive drop.
Weekly swap zone which now acted as a support failed to be broken and being tested multiple times.
Though my bias for BTC is long, i will wait for a few daily candles to execute my...
A) WEEKLY
1. Price reached important point of decision on weekly chart; descending weekly trendline.
2. In the end of May, price respected previous highest resistance that was made on Jan 2018 and failed to break the resistance, thus made a reversal.
B) DAILY
1. Price made a beautiful daily ascending channel as a sign of correction before any impulsive move on...
WEEKLY
1. Price reached the previous highest resistance that was made trice; 22 Jan 18, 16 April and 22 Feb 21.
2. However price failed to break the weekly resistance, thus formed double top on the weekly chart.
DAILY
1. Price broke daily ascending channel with bearish extended engulfing and formed another channel of bearish fashion.
2. Price tested daily major...
WEEKLY
1. Price broke major weekly descending trendline showing possible bias for bullish fashion in the long term.
2. Upon breaking the trendline, price also created higher high on 1st Macrh 2021.
3. It was the highest price Aussie Cad made since June 2018.
DAILY
1. Price is at important decision point now which was the previos low as well as daily...
a) WEEKLY
1. On the weekly chart, price keep creating new HH & HL showing a positive uptrend.
2. The price broke the highest nearest resistance (5th June 2020) and creating a new HH again.
3. Last 2 weeks, price respected the broke resistnce (RBS) with a bear candle but with a very long wick.
4. Last week price made a doji candle.
b) DAILY
1. On the daily chart...
a) WEEKLY
1. Price is creating clear ascending trendline on weekly chart, with point 1 and 2 has been made.
2. Price are coming to the previous resistance.
3. Price are coming to 61.8 fibs level.
b) DAILY
1. Price made falling wedges as a sign of correction before impulsive move.
2. Price is already at the demand zone.
c) H4
1. Point of confluence are clearly...
a) Weekly
1. Price is uptrending on the weekly chart as it already touch the 4th point of the trendline.
2. Price was closing with a bull candle with long wick last week.
3. Price broke market structure last 3 months with a huge momentum which is a sign of uptrending and reacted to weekly snr level.
b) Daily
1. Price made a falling wedges as a sign of correction...
a) Price is now at a very important point.
b) The price clearly seen now is at ascending daily trendline and last week candle showed a long wick of rejection.
c) Price is also at the daily demand zone.
d) It seems that the price made a falling wedges as a sign of correction before an impulsive move to the upward.
e) Im looking for the price to come to snr...
