With the aggressive downside move this week, buyers trying to take back control of market, but bears are not finished. I think bear market is upon us as weekly structure has been taken out for BTC . PA is without question trending down with price below the 4H 50 EMA , and consistent lower lows, lower highs. Good time to sit back and wait for the next short...
FTX:ETHPERP Trade thoughts: With the aggressive downside move this week, buyers trying to take back control of market, but bears are not finished. I think bear market is upon us as weekly structure has been taken out for BTC, and for ETH its just a matter of time - once we break and close below 1889 on weekly timeframe bear market will be confirmed for me. This...
Whats going on everyone. My favourite setup of the day is USOIL. You can clearly see this asset is in a bearish structure, with a lower low, and now a lower high formation. So whats next, logically? A new lower low. We're starting to see OIL struggle in between the 61.8 and 78.6 fib extensions, and sellers are beginning to push price down. Im short from this...
Whats going on everyone. Having a look at GBPUSD, you guys can see it has tested a crucial support level here. With such a massive rejection of this level, i will be placing stops just below the prior wicks with upside targets of 1.30. A nice clean and simple trade. Hope this helps.
Whats going on everyone. Todays favoured setup is USDCAD. Im really liking the looks of this setup now that the US dollar and DXY have finished retracing. Now that USDCAD has made a lower high and this is coupled with a perfect test of the 78.6 im really liking shorts here. TP @ 1.292 Hope this helps.
Whats going on everyone. Hope everyone is doing great! Having a look at the charts today my favourite looking pair at the moment is EURUSD. EURUSD has made a higher low, and structure is showing some major support at the 78.6 fibonacci extension. For this trade, im leaving stops below the prior wicks, with a TP at 1.20803. Enjoy. Hope this helps.
USDCAD is looking primed for a sell off. You can see price action has perfectly retraced to the 61.8 fib extension, and has been immediately met with selling pressure from the bears. This in confluence with weakness of the DXY has setup for a perfect short opportunity for this pair. Stops above the prior wick highs, take profit at 1.2929 Hope this helps.
Whats going on everyone, Just having a look at the GBPUSD chart on the weekly timeframe, you can see weve had 3 weekly rejections of GBPUSD at a crucial resistance level. With this im definitely executing shorts, and I believe their is a strong potential to see some significant downside. Scaling down to the daily, you can also see a doji candle - a clear sell...
Whats going on everyone. Alerts have gone off on XAUUSD this morning with a retest of the 61.8 fib extension. Before entering into this trade, I wanted to make sure there was enough buying pressure from the region below before entering into this position, but now ive given it a couple hours, i can see the bulls are back to push price up. Stops are set just...
Based on current price action you can see the trend is creating consistent Lower lows and lower highs. Based on the two latest structure points, you can see price has retraced to the 78.6 fibonacci extension, and we've now had multiple rejections of the fib. Keeping stops very tight here, but with USD looking weak, the short play looks highly favourable Take...
EURAUD is looking primed for a long. Looking at price action on the 4H timeframe, you can see price has popped just below the 78.6 fib. If you look at the prior 4H candles, you can see some buying pressure from the region below, and bulls should take over from here. Take profit at 1.6682. Hope this helps.
USOIL looking perfect for a long Huge rejection of the 78.6 as well as a higher low on the 1H timeframe. The prior wick indidcates some strong buying pressure from the region below and a long makes a lot of sense. Stops just below the prior hourly wick, take profit at $44. Hope this helps.
Whats good everyone. Taking a look at the GOLD charts this morning you can see a large manipulative wick to the upside that would've taken out any short positions. However, if you look at the current structure of the market, Gold has just made a new Higher high and now, a new higher low. During this manipulative spell, gold tapped the 78.6 fibonacci extension...
From the chart you can see that USDCAD is finding some major support from the yellow box we've outlined. Stops set pretty tight to minimize downside risk, with a take profit level set at the 1.32700 area. Hope this helps.
My last public call for a little while. BTC had a big retracement based on 4H market structure. Yesterday it came up with a big manipulative wick to fill big shorts and the sells are here, no question We tapped the 78.6 and you can see where the sells are! Based on my fibs, my targets are 1: 8579 & 8183 May take a few days for us to reach these levels but...
BTC has come up and rejected the 4H 50 EMA and rejected the 78.6 fibonacci extension based on the latest structure points. Based on this, and with a further confluence of a 1H doji shooting star on the prior candle, Im very confident in the short play for Bitcoin. Stops set 9440. Target 1:9080 Target 2:8980 Hope this helps.
ADA has broken Bearish Weekly Structure, as a result, we can confirm the beginning of a Bullish trend Now looking for a minor pullback to grab liquidity at my yellow target at $0.05-0.052 followed by a move to $0.113 Once we pullback We will see a phenomenal long opportunity - an easy 50-60% return Market Structure is key. Hope This Helps.
Some very choppy behaviour from BTC the last few days, but one this is for certain we are in a Bearish trend on the weekly, daily and 4H timeframes. You can see Bitcoin came up to test the 61.8 multiple times and is now beginning to breakdown slowly but surely. It could potentially come up to retest the 78.6 area once more, but regardless targets are 8500 &...