joeyvalentino

joeyvalentino

Had a sell limit order in that just got triggered for this trade. Clear rejection off the 61.8% retracement that is in confluence with a resistance level and the descending wedge resistance. i entered a 1.5% risk position with 3 seperate take profits.

joeyvalentino

This is one of my favorite setups. Price continues to face rejection and loss of momentum at the key market resistance around 1.63573. Because price has not been able to break and find new found support, we are beginning to see signs of weakness in price as found in the divergence in the RSI. Stops are tight for this trade, if stopped out looking to reenter around 1.66.

joeyvalentino

So I am already in this trade but hadn't done enough analysis to confidently post this. However after taking a look at relative strength between GBP and Jpy... the Pound was showing sign of SLOWING Bullish momentum while JPY was showing signs of BUILDING bullish momentum. on the daily chart, the pound rallied to start off September and quickly lost momentum...

joeyvalentino

Potential double top formed here. I would be looking for the bear rally to spike up to at least the descending trendline. But price seems to have faced consistent loss of bullish momentum when it rallies to the "STRONG SUPPORT" zone... this market structure holds relevance with price unable to rally higher. the ascending channel was broken out of due to loss of...

joeyvalentino

was in this trade a while ago going short. this is obviously a s=descending channel. As price came up it formed a double top after continuing to experience rejection along the descending channel resistance. simple setup.

joeyvalentino

simple analysis, price is bullish, bounce off trendline. taking profit just above nearest support.

joeyvalentino

bullish momentum is wearing down on this bearish flag. Identified through a potential lower high on the bearish flag in confluence with divergence on the RSI. Looking to take the trade to 1.6 or 1.5 which appear to be key psych levels. If stopped out of position I am totally cool with that as i will then look for a re entry along the trendline resistance for yet...

joeyvalentino

already experienced rejection at the 61.8% retracement that was in confluence with resistance which formed the right shoulder of a head n shoulders reversal pattern. descending channel represents overall weakening in price. looking to respect descending channel trend. TP1 is in confluence with support. TP2 is in confluence with descending channel support. View...

joeyvalentino

pullback to the trend line, in confluence with a 61.8% retracement and newly found resistance. alreaady have a few short positions in cadchf, this is one of my favorite setups to re enter with.

joeyvalentino

Obvious resistance zone with a 61.8% retracement level. Lines up with a daily channel resistance which is accounted for in the stop less. Obvious new found resistance area at 1.0550

joeyvalentino

There is currently a small bear rally but i would not get in quite yet, Price will more than likely pullback to around 1.7 as it touches against the top of the channel. this would be a solid 38.2% retracement of a major bearish move and would be in confluence with the major psych level at 1.7 as well as a clean pullback to the stationary 50 on the RSI.

joeyvalentino

Refer to my previous markup on CADCHF, there is obvious rejection at the major psych level .76... there is a daily resistance trend line. Looking for a longer term short to most recent lie and then one more short that extends to the Fibonacci extension. The .76 is in confluence with a Fibonacci retrace net of 61.8% from recent/ relevenat swing highs and lows.

joeyvalentino

.76 is the major psych rejection level. I see relevant and respected rejection at this price point on higher time frames. In addition to price rejection, the RSI shows weakening in relative strength of price on 1 hr. Though price could potentially retest .76, right now price is potentially setting up for a lower high and break of 1 hr ascending channel. If stop...

joeyvalentino

Already in profit in short term forecast of this pair that i just recently posted. as you can see there is divergence on the RSI which is a good indication and a shift in momentum in price and a reversal pattern. as you can see the reversal pattern here is clearly the head n shoulders pattern. the right shoulder was a perfect 61.8% retracement. the RSI is painting...

joeyvalentino

Price action broke below the psych level at 1.5, i think we will see rejection as it breaks back below due to the descending channel. good indication of increasingly weaker price action... also if you look at the weekly chart you will notice that there is pretty obvious divergence in the RSI and all the recent swing highs. looking forward to taking this trade.

joeyvalentino

Pretty straight forward setup. there is confluence with the .618 retracement and support. as far as take profit goes; i would take profit on first entry at the bottom of the consolidation range and then tp2 at -.618 extension.

joeyvalentino

obvious resistance at 1.0 from both psych level and market structure. this happens to be a trendline retest from the breakout on the daily chart. looking to short, in confluence with .618 retracement on the fib.

joeyvalentino

I am not one to claim to know where Bitcoin is going to go because the truth is i have no fucking clue, however consider this setup and play the break out or buy in at the lowest point of the right shoulders if it retraces. There is alot of good sign that this is a potential market exhaustion and buildup of a reversal. Thanks, your mom