As covered in our weekly outlook session with our students. This has the potential to be a scalp that moves into an intra/swing position.
This time frame (4Hr) shows a considerable amount of liquidity just above.
I simply cannot class this current collection of price action as a double top due to the fact that the price did not move into a rejection directly at...
We can see on the daily TF that price has now hit this descending TL for the third time, where we are at a structure level, 38.2 fib level and the 50EMA acting as support. With a confirmed entry being on the 4H TF (huge Bearish wick)
Good Day Traders, I hope all is well.
These are my thoughts for GBP/CAD.
After a strong and lengthy downtrend price has begun to exhaust and has found a strong level of support. The market is creating a series of downside wick rejections on the 1hr and 4hr timeframe , indicating strong buy pressure.
Stop trying to always being right. I myself have lost...
Bitcoin (XBTUSD,BTCUSD) got strong support in a violent way, out of many people's exception. Whether it was manipulated by whales or not, a Demand Zone is out there: 9100 - 9500.
Double Long Wicks in 1H
Blue in 4H Ribbon of "9 Seasons Rainbow Multi TimeFrames Pattern": which indicates strong support
Expectation for Later move:
66.6% The Support will push...
EURUSD has reached a major resistance level at 1.24382 price level. it had consolidated for almost 2 days showing countless rejections when price tried to go bullish then price had dropped down to the 1.23313 support price level. Price had started to go bearish however it went back up for a retest , I'm hoping that price would go down towards the 1.22284 Support level!