TheMeditrader

TheMeditrader Updated 

EIGHTCAP:BTCUSD After the bears' strong attempt to take prices down, the bulls have regained control and an ascending wedge is being formed, suggesting higher prices in the form of a second leg up in the near future. It's possible that we see the bottom trend line (dotted) be valid, which would extend the range for a longer period of time, but I think the next...

TheMeditrader Updated 

EIGHTCAP:US30 Here on the 4 hour chart, we can see price action forming an expanding wedge. Knowing there is are still imbalances to the upside that are likely to get filled before any more dramatic moves down, I'm looking for the bulls to take control around the ATR of 33189 where I'll be bidding this market. This area will be the 3rd push on the wedge, meeting...

TheMeditrader

EIGHTCAP:US30 Of all the patterns I've traded, the trend line breakout, especially on the US30, has been very consistently profitable. When I see it being formed, my bias begins to shift in that direction. The US30 is currently forming a flag, with indecision and growing tension being expressed from market participants. What I'll be looking for, as a follow-up...

TheMeditrader

EIGHTCAP:USDCHF Last Friday's daily bar closed as a shooting star, indicated bearish sentiment. On top of that, it also finished as a SFP (Swing Failure Pattern) from a previous swing high, another bearish confluence. I'm expecting a run down to the previous swing low which is where I'll be taking profit. Entry is at an imbalance and stop is set above the most...

TheMeditrader

EIGHTCAP:ETHUSD I don't believe this trend will continue before taking on some more liquidity at lower prices. I'm expecting a false breakout that will trap bulls before swiftly reversing to the downside. The bulls have failed to take this higher on numerous attempts now. Bears are accumulating positions and will attack on the rejection. Get your popcorn... I...

TheMeditrader

EIGHTCAP:GBPAUD After a strong bull breakout confirming the trend line breakout, I'm looking to bid this market at 1.74495, the 61.8 fib retracement and a level of previous reaction. My stop will be placed beneath swing low and I'll be targeting the swing high, which is slightly below ATR and about a 61.8 fib extension from the breakout bar. Good luck, The...

TheMeditrader

Well, this one hurts a little. Got stopped out before the trade played out. In retrospect, I will adjust my stop loss on this set-up next time it comes up. Keep growing, The Meditrader

TheMeditrader

After an aggressive sell down to acquire more liquidity to fill what we would assume are institutional orders, we see 3 attempts from the bears to push price lower once a previous level of support was reached. The wedge pattern also finished with a swing failure pattern, taking out all stop within that range and creating more buying pressure to the upside. As...

TheMeditrader

This is a daily chart of the #US30 taken this morning. It's important to note that today ties the longest run of the year without the daily bar testing the 20 day moving average. Back in August, it ran away for 24 days, ultimately to come down aggressively on that day to touch/retest the average. Today, we're extended yet again by 24 days and traders are aware...

TheMeditrader

On the weekly chart, SAIL has just bounced from a clean break and retest level and has recently been rejected around the 112 area which is the 50 day MA. Last week's red candle now leads to a probable retest of the 105 level which lines up with the 20 day EMA and would be a 38.2 Fib retracement from the recent bullish run. Expecting to see more bulls step in...