Summary of technical analysis on the USD/JPY: - Fib(0) changed to 106.957 high of 10:00 candle - Stophunting session to grab the selling liquidity - Temporary long ('short squeeze') & then short - Swing is overextended to the upside - RSI pullback to probe above the 70 - Extremely low volume for a new high
Let me know if there's anything else!!!!
What an extraordinary time we live in! In less than 2 months Elon Must managed to change the crypto world. With the power of a tweet, he managed to double his crypto assets value. And he is not getting a sizable fine! If any of my dear readers remember, last time he performed a similar stunt tweeting about taking Tesla private, he received a $20m fine for market...
I haven't adjusted a damn thing on this analysis outside of letting it play out for a day. Technically, the analysis is sound. XRP is acting exactly as expected. But damn is it boring to watch in contrast to the rest of the market. The candle at the culmination of the pennant was bullish as expected... Just the volume was a dud. Like lighting a bottle rocket...
This wave is massive and the pressure is incredable so this looks like a game stop thing to me! I am sure that someone is driving this puppy and it wont stop anytime soon! the wave of volume is just starting so 50K in the next few hours and then a rest maybe and then another pump to 55K or maybe higher.
So Elon Musk decides he can't wait to let BTC run it's "natural" course and feels he should abuse his influence to pocket some good money. I'm not trading on BTC, but there are plenty people who are and who rely on actually being able to trade on 'reasonable' trends. This is in poor taste. I never had an opinion about Elon Musk, but I do now; he's a selfish man-child.
Wait for an rejection or wick in this area then wait for that rejection to close, then take the trade or place a SELL limit.
I hope you all had a great weekend! EU is currently in range condition. We will wait until we have a clear direction before we make any more projections. Manage all trades according to your trading plan. ***This information provided is not to be taken as a trade signal. Trends and analysis can change at any time. Feel free to message me with questions and comments.
We had an AWESOME day today in EU. Congrats to all of those who took profit! We had very clear patterns and opportunities to enter this trade short during the session. We will continue to look for shorts going into tomorrow's session. *NEWBIES: LOOK FOR SELL OPPORTUNITIES ONLY* Daily: Short H4: No harmonics: H1: L2 short Look for clear entries during trading...
Hey Guy! We have an official peak high to trade away from. We have a cross in out EMAs as well as a 72pip close away from today's open. We will be looking for continued shorts during the London session. A trap though the bottom of today's Asian range, an ID50 or a trap though the 50 figure would be ideal. Daily: Long H4: No harmonics H1: L1 short Look for...
Hey guys. This is a prime example of why we always trade in line with the daily and H1 EMA cross. We've some nice opportunities for entries short. It's simple. We will continue to look for opportunities short until we have an anchor for trades long. We do not predict. We react to what the market gives. Daily: short H4: no harmonics H1: EMA cross short, possible...
NZDUSD created a Higher Low and a demand zone. We will enter at the demand zone with a sniper entry, which means we will NOT wait for PRICE ACTION -> ORDER BLOCKS from Banks etc.
Peace guys. I hope everyone had a great first half of the week. So far our bias is playing out as expected. The market makers to tend to stand aside in L2 and let the retail traders have at it. This is one reason we tend to see most resets happen in L2. The daily is trending long and we saw the day close with a wick to a daily zone flip. On the H1 we see price...
Dear trading enthousiast, Maybe I am suffering from tunnel vision, or confirmation bias, but I see many trend lines converging to a ~6400/6500 target to the beginning of May (and a capitulation afterwards). Earlier I expected a pullback before reaching the top of the channel, but I think we won't see that happen (in fact, I don't think the bottom of the channel...
Market Maker Vision - AUDJPY Short
GBPCAD is in a major uptrend giving us nice and clear Higher Highs and Higher Lows. If we see past data, the bounces on the trendline and Stochastics reversals were clear and precise, and this exact same pattern is occurring right now, adding this time a harmonic pattern to our charts. Also, if we see the daily candlesticks, bullish momentum is CLEARLY dying for...
It feels like the trade bots are really trying to complete this H&S (continuation). If Bitcoin loses support at $6k, a $5800 test will complete the H&S. If H&S is completed, we might expect the pullback to equal the height of the pump from $5800 to $8500 (+$2700). That's a $3500 target from current $6200 range. I know, I know, "H&S doesn't happen at the bottom"...
Market Manipulation 101 These days we listen every time market moves everybody blame market manipulators and talk about them any many people just think they just sit in front of a laptop and manipulate market by 2 click.but what is market manipulation? "Market manipulation is a deliberate attempt to interfere with the free and fair operation of the market and...