aluchan01

aluchan01

Retested the 0.618 of the daily impulse. Can expect more upside. Bottom should be 768. Price of interest would be on 618 and 768

aluchan01

Nikkei is currently retesting this strong monthly resistance level This just cannot end well. Bull trap on a resistance level. If it gets broken. My setup is validated and no shorts will be made.

aluchan01

Currently trapped within weekly resistance and daily support. Good probability for a short. But only up to the daily support as the maximum for now.

aluchan01

we broke through monthly support, now resistance. had a long from the bottom and took profits target is 618, confluence with the monthly R. That is where my short entry would be.

aluchan01

Completed W structure, and seemed to respect the neckline with the Monthly resistance.

aluchan01

Will wait for 618 or 768 preferably for a nice long.

aluchan01

M structure complete and we are currently retesting the neckline. Could go either way tbh, still waiting for a good confirmation for my entry.

aluchan01

Neckline on 4h W structure got broken again. Very perfect for a short scenario. Daily close below 1902 would mean bears are back. My scenario would be 1837 for gold preferably. (0.382 of monthly impulse) I would wait till monday to see COT data. And im expecting more longs closed and more shorts added.

aluchan01

Why i say partially bullish. Monthly and weekly still hasnt aligned with the sentiment, but we broke through 1912area on the daily that acts as the resistance. Now in W structure retesting the neckline. Good confirmation would be good for longs. Targets are 1940 and 1970 areas.

aluchan01 Updated 

Waiting for a good confirmation on this setup If get a good rejection from monthly support, this would be an easy long. Watching 4h and daily to get a good bullish candle.

aluchan01 Updated 

Btcusd just made a bearish divergence on the weekly/monthly resistance. Good for shorting.

aluchan01

Will wait for 3370area before making a good long. As thats where the next major Support would be. Setup i posted was entry on 3500 worked great :)

aluchan01

W formation completed. Now we can expect a retest of the 4h neckline as our point of interest for entries.

aluchan01

I am inclined to long depending on the rejection, as a scalp/intraday trade. I wouldnt go for a long swing as this is an M formation structure. But for intraday traders, this would be a good entry for longs technical wise. On a 4h timeframe we can see Double bottom and Bullish divergence. High probability of an upward movement

aluchan01

We will see next week how market reacts to the 13k area target of interest. Im leaning on a rejection to complete an M structure, HS pattern .

aluchan01

Daily candle received a massive rejection from 3500area which was my point of interest for an entry, regardless of direction. The rejection made sellers intention clear to drop as low as 3300area. We will see next week how we react on 3450area. This is where my entry would be, ideally.

aluchan01

overall market is still bearish. 4h showed bullish divergence on 4h which makes sense to clear the fomo shorts. 28700 would by my reentry for shorting this market.

aluchan01

entry for longs was way lower than expected. but market is still overall bearish imo i want to see its reaction from 3500area. deciding factor for future movements. we get a good break, we'll stay here for a while rejection will continue the overall downtrend.