New Lower High or another swing High Leg
Price has dropped lower than the most recent swing high which is one of the first indicators of a change in trend. If we get a retest at the resistance zone we can wait for a reversal pattern to form before entering a sell. It would also be possible to enter a bullish trade back to the resistance zone once this idea plays out.
Evening Traders, Today’s analysis – EURNZD- deviating from local swing high, daily S/R is the next trade location with technical confluence. Points to consider, - Consecutive HH’s and HL’s (bullish) - Swing high resistance (respected) - Daily S/R confluence (.618 Fib & 200DMA) - Oscillators below 50 mid-point - Oversold bounce continuation The macro trend...
Evening Traders, Today’s analysis, FIOBTC trading towards a probable double bottom structure, confirmation will be on the break of dynamic resistance. Points to consider, - PA approaching trade location - Equal lows (liquidity run) - Key dynamic resistance - Oscillators over-extended - Swing high target FIOBTC’s price action is approaching a key trade...
Evening Traders, Today’s Analysis – AUDNZD – testing a key swing level, respecting it will establish a double top, immediate target local support. Points to consider, - Impulse bull move - Swing high liquidity zone - Local support confluence (.50 Fibonacci) - Oscillators above 50 - Volume below average AUDNZD’s impulse move is stalling at a key liquidity...
We have been discussing this market regularly in recent times. Yesterday we discussed the intraday price flip level and the new momentum higher on the smaller time frame charts. Price has made a sharp pullback and retrace. If price can take out the recent intraday swing high it would pave the way for the next extended leg higher.
Evening Traders, Today’s analysis – VETUSDT- breaching dynamic resistance with an impulse move, swing high being the immediate target. Points to consider, - Local downtrend broken - Retest confluence (.618 Fibonacci) - Key dynamic resistance breached (swing high target) - Stochastics flat - Volume below average VETUSDT’s down trend has been breached by...
We discussed this pair. in the daily trade ideas last week because of the trend higher and the upcoming support level. The support level has so far held and whilst the follow through as yet has not been major, it could be important. If this level holds it could see price test the recent swing high resistance with another leg higher. Thanks for your like and support...
Bearish Reversal Candlestick The inverse is true with this type of formation in a bearish scenario, and the image above shows that price made the highest high before reversing and closing strongly lower off its highs. Here's what a bearish candlestick is telling us: Price made a new high, but buying pressure very quickly dried up as an increase of sellers...
D1 - We have a key resistance zone that has formed based on the 1.618 (1.15575) Fibonacci expansion level of the first wave and the 61.8%(1.16003) Fibonacci expansion level of the second wave. The price is developing a big 5 leg structure and we are currently inside the 5th wave. The price is currently breaking above the last swing high and it still has room...
This is a easy buy for a retrace back to 2$ anyone agree?? I loaded yesterday
The 1st of June saw Bitcoin reach a swing high of $10,400, only to make a sudden U-turn and retrace in price of over $1,000 USD in one day hitting the 61.8% fib levels before recovering and slowly making its way back up. We now find Bitcoin trading around the 38.2% fib, ($9,718). The question is: “Is a new swing high underway to break $10,500 levels?” The answer...
Awaiting bullish pressure before entering this trade, current bearish momentum could see price break below current support.
Minimal risk swing. Happy to take a stopout + re-entry
Hey there, Soooooo, well. Guess we can negate the bearish/healthy scenario for now as we see Bitcoin pumping over its prior high for 2020 and even wicking above the last swing high on Bitstamp to create a new swing high. This is quite a huge factor and once more signals the strength and deeper bullish bias of this ralley. This also could now be further...
Hey there, So there is stilll one more target to go. As I already said in my latest post, the 200Day EMA is one of the last major stops and resistances which bitcoin has to break to finally confirm a trendchange on broader timeframes. Sitting now at 8900 USD, the 200Day EMA acted as resistance multiple times in the past and seems to be of high significance when...