Michael_Harding

Michael_Harding

Taking a look at the 1 hour timeframe, price action is currently attempting to hold above the resistance confluence area. Should price action hold above at the end of this hourly candle, I would expect to see further upside towards my bullish target

Michael_Harding

On the 1 hour timeframe, we had a break and hold below the ascending support. Let me know what you guys think... Do you think this is a bearish breakout or fakeout? Leave comments below.

Michael_Harding

We're likely to dip lower off this level of resistance.

Michael_Harding

On the daily timeframe, price action printed a strong bearish engulfing pattern and now I'm just waiting for a sniper shot entry. This means prices need to climb back up to my desired entry area for me to consider short selling this pair. I have alerts in place - now just need to be patient and wait. Trade Safe

Michael_Harding

Just waiting for price action to climb back up to 1.1545 to consider a sell position once bullish momentum fades. This is only a 1:1 risk to reward setup but has high chance of success. Trade Safe

Michael_Harding

Taking a look at the daily timeframe, I'm still not convinced now is the time to sell. But in the event price action does close below the previous candle on the daily tf, I'll then look for a possible sell. My idea is chalked up on the chart of what I'm looking for. If this doesn't happen - no trade. Please note that this is not a complete trade plan, this is...

Michael_Harding

Taking a look at the daily timeframe, price action did in fact arrive as previous explained but now we look for a possible correct with this pair. See previous analysis below. On screen you can see that I'm first waiting for a bullish pullback from yesterday's rejection candle to then enter some shorts to the downside. This setup is only a 1:1.39 risk to...

Michael_Harding

Taking a look at the daily timeframe, RSI is in the overbought territory as we approach a descending level of resistance. For this reason, the trade strategy here is to "Scale In" on the sell and fade this pair as it climbs here. Whenever using atechnique like this, I prefer not to use a stop loss and scale with little volume. If you like this trade...

Michael_Harding

Taking a look at the daily tf, price action closed above the last candle where we saw strong rejection following a retest of the descending support. Today the ECB also left interest rates unchanged at 4.25%. Even though this is a low risk to reward setup, I believe it has a good chance of becoming a winning trade.

Michael_Harding

Just a simple scalp with a tight stop loss. If stopped out, on the next trade I plan to double my lot sizes. See entry, exit and target levels on screen.

Michael_Harding

You either hear me or you don't. Don't under estimate the power of a 16 year veteran.

Michael_Harding

Taking a look at the daily timeframe, price action is approaching the ascending resistance around 2380. I believe based on previous price movements, this trendline should hold as we head into the next FOMC meeting at the end of the month.

Michael_Harding

Taking a look at RSI on the 1 hour timeframe, it's obvious we are getting some bearish divergence after a strong week long rally. This strong bullish price action was attributed to the RBNZ interest rate decesion last week where interest rates were left unchanges at 5.50% However, later today we get the latest CPI data from New Zealand followed by UK's CPI data...

Michael_Harding

Starting with the weekly timeframe price action is currently testing the 50% retracement level from last week's swing high. This is known a common pivot point. Taking a look at the daily chart below, price action remains elevated above the 2350 psychological support level. RSI also holds strong above 50. Lastly on the 4 hour timeframe, the technical backdrop...

Michael_Harding

Taking a look at simple price action on the 1 hour timeframe, we can clearly see the divergence with RSI. RSI also quickly snapped back below 70. I now have a bearish target at 1.2765 for a 1:4 Risk to Reward Trade Safe

Michael_Harding

Bitcoin regained some of it's loses on Friday following the US jobs report which points to a slowly cooling economy. As of writing this report, BTC is now trading above the 1 hour descending level of resistance. The question I have now is will this pair pullback up to 60k?

02:51

Michael_Harding

Second BTCUSD trade about to reach it's target. I'm now waiting for more directional clues but I suspect that we might get a bounce off of the descending level of resistance so I'll be monitoring that.

Michael_Harding

On the 5, 15, 30 and 1 hour timeframe, BTCUSD is showing signs of bottoming action with price action. RSI is also confirming as we head into the NFP. Should NFP disappoint analysts forecasts, I believe Bitcoin will reverse to the upside. My trade idea on screen is a 1:3 risk to reward setup. That's it - That's all Trade Safe