Forecast: BTC tends to consolidate and rally. Once it does rally, it has little to no pullbacks. Final stage, will be accelerated climb followed by a mid-term correction. Masses common reaction: - During consolidation period, wants BTC to dip lower to buy cheap BTC, - During rally, wants BTC to retrace to get a safe entry. - Only during accelerated climb, FOMO in...
Daily and H4 showing clear signs of bearishness Price action on hourly and lower timeframes also bearish, BUT finding support. Aggressive entry would be shorting at market (at time for recording) with a stoploss that at the most clears the lower high on the H4. Conservative entry is waiting for support to break which is clearest on the lower timeframes (h1,...
Trade based on timeframe agreement and price action. Daily shows ok signs of bearishness and signs of being overbought Should the key level of support identified in the video get broken (and pull back), this gives a good basis to short.
Good signs of being overbought on the daily and reference point for stoploss above yesterday's high. However lower timeframes still need to show more definitive signs of bearishness to consider short. The price breaking support on the lower timeframes, pulling back and then finding resistance make be a conservative approach to trading this.
Summary: Good signs of being overbought on the higher timeframes. However, need to see more definitive bearishness on the lower timeframes like the H1 and 15min. Should that happen, this allows for an entry with an achievable 1:1 reward to risk (or greater). That assumes a stoploss above the high of the daily candle on 6th August
Shorting based on timeframe agreement and price action **DAILY** > lower lows and lower highs > yesterday's candle is an assumed lower high giving a good reference point for a stoploss above that level > Yesterday's candle interacted with previous zonal support and resistance, as well as the upper edge of a the linear regression channel. These are good...
This is a short based on timeframe correlation and price action analysis. * DAILY CHART* - signs of lower lows and lower highs. - The high of the previous day's candle also interacted with a strong area of previous resistance. - That level as interacts with the upper edge of the linear regression channel. - These are signs of the price potentially being...
Shorting EURJPY. Setup based on price action and timeframe correlation. * Daily showing signs of bearishness, with signs of lower highs and previous days interacting with zonal resistance * Linear Regression Channel on the daily is ok but not great. Price is currently near the average on the linear regression channel and in the upper half. * Recent price action...
Short trade based on timeframe agreement: * A strong resistance zone evident on the daily on H4, giving a good reference point for stop loss * Price overbought on the daily based on linear regression channel * Signs of bearish price action on higher and lower timeframes (i.e. lower lows and lower highs) * Stoploss above daily high on 22nd July. A more...
#GBPJPY Short based on price action and timeframe agreement: * Daily - yesterday's candle was "toppy" and found resistance at a previous support level * Daily - assumption is yesterday's candle is a lower high in the price action. This gives context to place a stoploss above that * 4 hourly chart shows clear signs of bearishness with lower lows and lower highs in...
Short trade based on timeframe agreement: * A strong resistance zone evident on the daily on H4, giving a good reference point for stop loss * Price overbought on the daily based on linear regression channel * Slightly worried about the price action on the 4hourly chart as it hasn't yet broken structure to show signs of a downtrend * However, signs of bearishness...
Trend-based trade based on: * yesterday's reversal candle finding resistance at a strong level * the price having moved passed the low of yesterday's candle * the price appearing over-bought on the higher timeframes e.g. interactions with upper linear regression channel * lower timeframes starting to show signs of lower lows and lower highs * stoploss above...
because how often do you believe people on the internet
Weekly Chart analysis
While my last video on DXY has been supporting a bullish view, I wanted to also look at the alternative. I go over a few reasons why one may want to short the dollar from that point of view. There will always be good reasons to buy X pair, or to sell it instead, which is a point I talk about. At the end of the day, trading is a game of probability so you will...
FX:GBPCHF , OANDA:GBPCHF , SAXO:GBPCHF Here is a video on GBPCHF. We posted a buy idea on the pair this morning (see the related idea). Just a quick run through on the reasoning behind it and why we thought it was a decent speculative trade to have a look at today. Feel free to comment if you have any questions or would like to discuss anything. Full...
The dollar index has had a very bearish week, but that is not to say that the bearishness is going to continue, as we are approaching daily, weekly and monthly demand zones on the DXY chart. From the video you will see that we are not quite there at the monthly demand zone, so we could get some more weakness until we reach it, at which point we could get back...