Be highly cautious because distribution can be seen with a gravestone candle and much higher volume. The probability of a major correction is in the cards as Bitcoin is now retracing a well.
On the above 5-day chart price action has corrected over 90% since November 2021. A number of reasons now exist to consider a long position, including: 1) Price action and RSI resistance breakouts. 2) Price action backtests past resistance as support. 3) Price action tests the ‘bottoming candle’. This happened on a recent published idea, do you remember...
As mentioned in my analysis, over the long term I expect BTC to go to $0 as there is no 'real world' value. In the short-term, $70,000 could be the price point that would get average joes and retail ricks buying at all-time highs due to the spooling of advertising etc. My philosophy is simple... Fortify Michael J Huddlestone's concepts that I have studied to...
What happens if Dollar is to run on buy stops up to 103.20? A healthy retracement for gold before a continuation would still be viable right? Macro bullish for gold, especially if interest rates are to come down later on this year but for the short-term, $2147.21 is in the cards for next weeks trading. My philosophy is simple... Fortify Michael J Huddlestone's...
This week, I'm maintaining my bullish sentiment on USDJPY, and here's my trade plan: 1. Support Retest at 148.53: I'm looking for a buying opportunity if the market retests the support level at 148.53. This level has shown previous support and could act as a launching pad for further upward movement. 2. Bullish Trendline Retest: Alternatively, I'll keep an eye...
This week, I'm feeling bullish on GBPUSD, and here's why: 1. Weaker Bullish Trend on Daily Chart: Although the bullish trend on the daily chart is weaker, the recent violation of previous resistance suggests potential upward momentum. 2. RSI Divergence on 1-hourly Chart: The presence of RSI Divergence on the 1-hourly chart indicates a possible reversal or...
CSE:MINA is in its ascending channel in the daily time, and due to the closing of the daily candle in the coming hours, we can expect growth up to the middle of the channel. Of course, one should pay attention to the type of daily candle closing
Supply Zone: A supply zone occurs when the supply of a cryptocurrency exceeds the demand. In this area, there is excess supply, leading to a falling price. On a price chart, a supply zone is associated with a downtrend. Traders often place sell orders in supply zones, expecting prices to decline further. Imp : forming doji candles in weekly chart Interpreting Doji...
Although Cable and Euro work hand in hand, Cable broke intermediate term highs whilst Euro closed out by the weekly bearish order block, indicating some form of a pullback going into next weeks trading. 1.08969 is a short term target i expect Euro to trade down into. My philosophy is simple... Fortify Michael J Huddlestone's concepts that I have studied to...
In comparison to the equities market, GBPUSD has been on a tear for the last few days with no sign of pulling back in sight. But with that being said, a short term retracement back into the weekly bearish order block (acting like a inverted OB) would still be considered to be healthy in the grand scale of the bullish buy programme that started in Oct 23. Looking...
YM has been frontrunning the market, with all-time highs printing on the 23rd of Feb 24 and this Fridays close being a short term high @$39,008. $38,399 is where my interest is drawn to with $38,323 being the intermediate EQ which I aim to target. My philosophy is simple... Fortify Michael J Huddlestone's concepts that I have studied to consistently predict...
For 10 days, price action for NQ1! has been relatively rangebound with Friday wicking through $18,372.75 all time highs but closing at the $18,040 weekly bullish order block. $17825.75 is my next short term target with $17,600 being the next take profit target if we are to continue the decline. My philosophy is simple... Fortify Michael J Huddlestone's...
Friday confirmed my weekly bias but I could have easily been wrong. 5090.50 is in the cards for next weeks trading as long as dollar lines up with running short term highs @ 103.20 5066.50 would be the next area of profit taking but NQ is frontrunning the market so far. 5170 zone is the optimal area in which capitalising on shorts for me would be...
Going hand in hand with my bias with bonds and yields, I am expecting some form of pullback up to the 103.20 region. Last weeks projection was to see Dollar trade to and through 103.463 which was met. The thoughts I had then was how far into a discount could we go and we closed the week @ 102.741 102.358 is the 1-hour short term sellside which I will keep an eye...
There is usually a very tight correlation between the bonds market and the yields but what we have seen especially on Friday is price action moving in tandem to each other. Yields closed bearish whilst Bonds had a shift in market structure whilst closing bearish on the Friday which indicates something will give soon! 121.02 was my expectation for this weeks...
This week was a waterfall. Next week will be the week of short seller payback! A continuation of yields trading @ CE; 4.046%, even sweeping Sellside liquidity @ 4.038% is still a possibility but for the past 4 days, the sentiment is more weighted to the downside rather than the upside, with the lowest displacement NWOG being my last line of defence @...
BTC has now started respecting bearish FVGs on the 4h time frame. As such, the next major buy for BTC reversals should be somewhere under 60k for the time being. Happy trading!
Continuation of trend!! Market Structure Bullish on HTF (Weekly Daily H4) Weekly Rejection at AOI Previous Weekly Structure Point Weekly And Daily At same AOI Daily Rejection from AOI H4 EMA retest Around psychological Level 1.47000 Entry At H4 HL Point 90% +3 REMEMBER: Trading is a Game Of Probability : Manage Your Risk ...