1hour
LITUSDT/1H (UPDATE OF LAST CHART)I can see triangle and bullish falling wedge pattern on the chart.
I think price will rise to the last price (1st rise = base of triangle) due to we saw breakout from triangle and then will pullback on consolidation area (2nd tp will active if you see this pullback) and keep moving it trips as you see.
1st tp and 2nd tp are at strong Fibs area and among them we see another Fibs area (1.618 & 2.618 ) that will be able to reverse trend.
EUR/CHF 1/29/2021 11:50 (DEMO)EUR/CHF 1/29/2021 11:50 SCALP
Fundamental/Sentimental
News Events: A lot of smaller events going on, but none that should effect price too much. Regardless, friday volatility is right around the corner.
Market Sentiment: Bullish sentiment
Technical
Time Frame Analysis:
Monthly: Buyers breaking out of an uptrend with a building momentum in power
Conversely, sellers are showing signs of exhaustion
On an uptrend out of a down trend
Weekly: Buyers are reaching for higher levels but sellers are stricking back
Daily: Price is is acting stronger on the side of buyers, despite not using all thier volume
Although price is being pressured by a structural level, that level has been semi-penatrated and price is further inclined to go upwards by the uptrend which sellers struggle to hit indicated by moves to
It appears that buyers have an eadge so far on the daily.
4H: Buyers seem to have over extended, price may drop a bit to gather more buyers
Structural level and trend seem attractive to price action
1H: Price seens ti ve testing a supporting trendline more strongly that the resisting one indication buuyers are being pushed hard
Reason for Trade: Buyers have taken advantage and thrown a large sum of buyering power to create an impulse, indicating they still have power, but ideally, a retrace would be the ideal thing in this situation given the strong structural level, a 61.8, and indication of exhaustion at the 100% with a small HS.
Indicators: RSi Looks bullish on everytime frame and even supports a bit more buyers on the 15M for a small window before a drop on the hour
Entry
Order: 0.05, 5000USD
Position: Limit Sell at
RR: 3.89
XAUUSD, 1HUPWARD TREND
FOR THE MOMENT, AN INCREASE IS EXPECTED IN THE FOLLOWING HOURS, WHICH ACCORDING TO THE ANALYSIS WILL LAST ONE DAY AND 3 HOURS, AFTER THAT WE WILL HAVE TO WAIT FOR A CORRECTION AND OBSERVE IF THE ROOF ROOF TREND LINE MARKED IN THE CIRCLE IS BREAKED , IF THE ROOF TREND LINE IS EXCEEDED, THEN IT IS VERY SAFE TO KEEP BUYING UP.
USD/CAD 1 hour possible long positionHello guys, I am a 16 year old beginner trader so need as many inputs on this trade.
The USD/CAD had been obeying the trendline (shown in blue) for most of last week but when the market opened after the weekend, the price broke out and started pushing up. My idea is to wait until the price finds support at the 1.31528 (shown in orange) before going long.
Thanks, any help is much appreciated
Potential BEARISH ABCD in SPY on 1-hour chartHey all!
There is a BEARISH ABCD pattern formation going on in SPY Hourly chart. The pattern is very close to formation and RSI is in overbought zone. I see a high probability SHORT trade in this setup. You can either enter the trade right now with a tight stop-loss or you can wait for price rejection around 350. I also marked profit taking levels. It is up to you.
Have a great week!
Potential BEARISH AB=CD in QQQ 1-hour chartHey all!
There is a potential AB = CD pattern formation in 1-hour QQQ chart. The pattern is still forming. The PRZ is between 294.55 and 295.09. There is a possible short if the price enters PRZ. Depending on your risk appetite, you can enter a short trade right after price enters the PRZ with a tight stop-loss or you can watch candle formations and look for a rejection around that level. Right now, the RSI doesn't show any divergence, but we are at the overbought terrirtory. If we get a divergence in the RSI, that will support the short trade. So, you should also watch RSI alongside the price.
If pattern becomes invalid there is a chance that it forms an extended ABCD. I'll be watching.
Have a great weekend!