As price approaches resistance levels above, what is next for Bitcoin?
An article over the weekend explained that Elon Musk has lost near 20Billion since his purchase of the cryptocurrency which has also had a negative impact on Tesla's stock value. Is or has the bubble burst? Are we seeing some short-term profit-taking that is pushing the price down? Will one...
As you see we have a consolidation in 4H timeframe witch broken and may let the price go higher, if the first 4h candle closes above the specified zone, we can expect a uptrend and taking buy positions in structure levels,
but if it rejected by this zone, we'll take short positions in lower timeframes.
Hope everyone had a profitable week. Before you start your lovely weekend I would like to share a nice possible setup on WTI with you all.
We can short sell USOIL after confirmation of the breakout.
Traders who agree with my idea can take entries according to their own trading style but don't risk more than 1% on this trade.
Have a great weekend!
We have been in a descending channel.
Another key level which bought a previous low has been broken when the breaker was broken, i anticipate a false breakout to the topside into the supply zone before price reacts and dumps down, ranges and drops to the down side, faking out and hunting liquidity in the demand zone from July 2020
The first time price broke below support which was required for sells, resistance was formed but we never got the final confirmation required to execute on sells. Price then broke back into the range before we took an entry.
As we had already formed resistance, I was happy to go down to the 5m timeframe to confirm sells. The next 5m candle broke back below...
A few hours ago, price came up to a very important resistance, which is highlighted on the previous gold chart posted.
We started to get multiple rejections from the 1919-20 area so I realised with confirmations, this was a very good selling opportunity.
After the multiple rejections I had seen enough to deduce that there was a very high probability that price...
I had already highlighted that for buys to be valid, price needed to break resistance and form a support.
Price did exactly this and as support was formed, I looked for confirmations to enter buys. When the bullish 15m candle broke the high of the previous 15m candle which was our formation of support, I entered the trade.
My stops were below the current 30m...
If we close above 136.845, we can look for a wickfill towards 137.000 and then potentially targeting 137.150. We need to close above and form support on lower timeframes for safer entries.
This would be a quick scalp
As price broke resistance we took buys on the retest using half risk as a solid support didn't form, our stops were below the current 30m candle. Price ran for 10 pips before we moved stops to BE, price retraced after 11 pips stopping us at entry.