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Since price acion's previous breakout to the downside and close below the 1.77600 zone Price action has now retraced back up and is currently retesting This previous support zone which now may act as a potential resistance level.
Price action has now seen a rejection at this level signing a possible continuation to the downside!
this is quite particular as a case study. Here on GBPCHF i've gone down to a lower timeframe because i was looking at the daily chart and i saw a double top with RSI divergence. Thus i went on the 4hr chart and looked for trading opportunities at the retest. Guess what i've found: another double bottom with again, RSI divergence at the second test. At ...
i've been looking at this pair over the last days, and it finally turned into a trading opportunity right now. The blue zone is a structure zone in which price has lately been very sensitive and it's also been a zone in which price has gone overbought on the 4hr chart, also creating a short candlestick with an engulfing candle. Moreover, on the hourly ...
not so much on my charts these days (at least for my eyes), but i've been able to find this nice setup on the hourly chart. It's a bearish bat formation that's going to complete in a strong structure level (both daily and 4H) and i'm going to get in as soon as the price will touch the D completion point because of the higher trend and because it's a nice ...
on the daily chart EURNZD is in oversold condition and it's also testing a key structure zone. That's why i've highlighted the yellow box that you see above. In cases like this, i like to go on smaller timeframes looking for additional clues to take a trade. In this case i've found multiple hints: first of all, on the 4H chart we can see a couple of ...
very simple setup: a Gartley pattern on the 4H chart that's just been triggered. I wasn't on my computer so i'm placing my order now, if price will hit the D point again, then i'll be in. Make sure to put your stop loss below the X point. As for targets, i've used as usual the 38.2 and 61.8 Fibonacci retracement of the AD leg.
If you have ...
this is the hourly chart on EURJPY and i'm taking this long trade because of several reasons. First of all, we're in a strong supporto zone on the daily chart and we're also creating a nice divergence on the RSI there. Then, if we lower a timefeame (4H), you can see a couple of pinbars (candles with long wick to the bottom) signaling buying pressure ...
this is a simple trading setup. It all starts from higher timeframe, specifically daily, where we have a downtrend and a retest of the broken support that could now turn into resistance (yellow box). Given that, we all know that this is a key place to look for trading opportunities because it could yield great results with the help of the master trend. ...
there are several reasons why i'm going long on this pair. For starters, price is testing a very important structure level that you can see both on the daily and weekly timeframe, and in doing so it's creating a nice divergence on RSI on the daily. Moreover, if we lower a timeframe, we can see on the 4HR that we have two engulfing candles (one after ...
i've been looking at this pair often lately, and i'm still looking to sell this because i think we need to see a relief rally before eventually continuing to the upward direction. At this moment, we're testing a very strong resistance level, both weekly and daily, and we're doing so in overbough condition (heavy overbought). On a lower timeframe, such as ...
today i want to talk about why i'm going long on this pair. Starting from our daily analysis, you all can see that price is testing a former level of resistance that now can turn into support. In addition to that, we can also see the RSI is in oversold condition and the price has created an harmonic pattern called Gartley. Going down on lower timeframes, ...
in front of you, there's the hourly chart of USCHF. The yellow box represents a daily level of structure that i've pointed out in my higher timeframe analysis; this is also associated with a strong overbought condition (more than 7 consecutive green candles on the daily) and a divergence on the 4H and 1H charts. In this case, we also have a double top ...
as you can see this idea is pretty simple. I'm looking at this pattern because its completion point comes right around a very important level of structure (in this case resistance) and it will give me a nice RR opportunity.
If you have any idea/question, feel free to comment below.
Otherwise, see you in the next chart!
i've written down the main reasons why i'm going long in this market. As you can see, we're sitting at a previous level of structure, and we've created an AB=CD pattern with Fib confluence right at that level, that comes at a round number (that could strengthen the support being). We're also in oversold conditions. All those reasons together make me ...
this is on of the pairs i'm going to be looking at over the next days. And the reason why is pretty simple to explain: if you go on the daily timeframe you'll see price is dancing around a very important level of structure (yellow box) and in doing so it has created a bearish engulfing candle pointing downside (in RSI overbought conditions). If we lower ...
Hi Traders & Investors
I haven't posted here in a while.
I have been picking up some more Ethereum at previous structure; getting in under $400
This looks like a significant level which we are currently testing right now.
Price may consolidate around here until the market is ready to go long.
If price can run up from here, I believe that the next level to ...
Butterfly completed nicely. Green box indicates .382 1st target which coincides with major structure area. Might be an area to look for long opportunities if we see bullish signs.
Bat pattern close to entering the PRZ. Wait for entry reason in green box. Profits at .382 & .618 level (which will vary with D point).
This also coincides with Daily Support level (below)