Did we get a right shoulder invalidation of the possible SP500 head and shoulders patterns?
It is quite early to suggest that. We need the right shoulder to prove itself and work as support to give me more conviction.
As long as we stay on top of the right shoulder ~4470 I am carefully bull.
If we fall back under it I'm waiting for a test of the neckline ~4340....
Currently looking for longs on $OCEAN
Scenario A
- retest breakout level and diag in yellow (618 fib) and invalid on a loss of diag and upper yellow
- target range eq for ~10% and target supply/resistance in red zone above and final target at range high
Scenario B
- we lose the diag and hold lower yellow area atop HTF demand (red line making this trade...
SOLUSDT Long Trading Idea, Nothing Fancy just complete monitoring of S/R Flips.
as drawn on the chart, resistance must break in order to achieve the final target.
SL is invalidation to setup and Reward is higher than Risk.
In previous times of turmoil, any investor was considered wise to place money into gold vs. fiat or any other investment vehicles. However, this comes with many issues, including accessibility, transportation, etc. So, in my opinion, Bitcoin (with its limited supply coupled with high demand, easy access, and easy transportation) will become considered the safest...
After a rejection near the key level of 47k and a daily close under the 50% fib retrace of the 36k low to 46k high, I suspect we may face another correction.
This is all under the guise that the recent uptrend was a 3-wave move, with a wick under 39.4k confirming the corrective move. So far it hasn't done so, but with a daily close under the 50%fib retracement,...
D1 - Price is currently holding in a key resistance zone.
Potential bearish divergence.
H1 - Bearish divergence.
Until the invalidation level holds my short term view remains bearish here.
If we get a valid breakout below 1850 level we may then consider it as a validation for this short term bearish view.
It's looking like the long position here may have been invalidated. Although, with a bounce of the upper line of the descending wedge, it may still be valid. However, if this breaks downward into the wedge and breaks the second support level, I wouldn't be looking to go long until price reaches the target-buy-zone shown on the chart. With a bounce off the upper...
SXP is currently trading under resistance, A move down will see us revisit support at $1.3 level, while a break above current resistance @ $2.6 and a successful retest would see us revisit price levels of $4.1 and higher. If there's anything losing my $1000 capital has taught me, it's wait for confirmation always. Starting again with $40. Hoping to turn this into...
SWING TRADING JOURNAL
Bullish invalidation still intact, so I still bullish for XAUUSD and this is my plan
I will;
BUY XAUUSD somewhere at Green Box (try to buy as low as possible)
SL BELOW Red Line
Final TP at Blue Box
Manage this trade with your trading style, maybe you want to;
1. Close your position early (at 1R, 2R or any profit level)
2. Move your SL to...
Hello traders!
Today we will talk about EURCAD, its price action from technical point of view and wave structure from Elliott Wave perspective. We want to show you what are best setups for trading in real time.
Well, we will focus on a lower time frame, a 4h chart, where we can see nice, clean and impulsive five-wave rise from the lows, which in Elliott Wave...
Touched the down trend line right at beginning of day and right at the end of day. Still leaning to downside.
I know others may have different counts but for me, I’m keeping my count unless we get a higher high above 61.49 for a possible invalidation.
Currently still holding onto small short position I entered other day.
Increased volatility has led to broken supports, making the cup n handle formation less likely.
While price could still find a bottom just above 7900, its unlikely to result in bullish action to test the previous high above 10K.
We have pushed past the 0.5 Fib between 6500 and 10300, yet no dead cat bounce into support to suggest a reversal to form a bottom....
Again, we are at another strong support area. It also includes the golden pocket of fib retracement from the $83 low all the way to the $363 high. The cup and handle it scrap since the cup has retraced too far. RSI is bearish again as well. We may get some choppiness/sideways movement for as we sit closely between strong support and strong resistance. I'm probably...
We are potentially tracing out a bullish bat formation here on the NZDUSD hourly chart. There is a veeery deep C leg though so make sure you check your data on your specific trading platform . For me, this pattern is still valid but could be a different story entirely on other brokers/platforms.
The AUDUSD rally is not over yet. We know this because highs have been breached and a triple combination correction has revealed itself. However, it is nearing its final rally up against the EW invalidation level. I would love to short form here with a high R/R and a big target. Updates to come as the tide rolls!
