EURGBP 4HPrice now retesting broken support, & broken trendline. Price came up for a lower high, now is it time for a new lower low?!
Break
USDCAD 4HPrice broke though daily support with a bearish engulfing candle, & the previous candle before was a doji candle on the daily rejecting the 200 Ema. This is a big bearish reversal sign, so now I will be watching for a reversal candlestick to the broken pink zone retested as resistance, for potential entry! : )
USDJPY 4HDaily support broken, retested as new resistance & the downtrend continues.. Watching for a reversal candlestick pattern to 38.2 fibonacci resistance, for potential re entry first target is the previous low, & its possible price may make a new lower low this week
GBPCAD DAILYDouble top here to weekly resistance, also a potential shooting star rejection from this weekly candle closure to a strong zone.. Will be waiting for a break of support & the 4 hour uptrend line for shorts down to the initial daily uptrend line.
USDCHF 4HPrice under daily resistance, now I will be watching for a break of the counter uptrend line for potential entry.
AUDNZD 4HPrice broke its counter trendline with a bullish engulfing candle. Price now going towards a supply area, where I will be watching for a reversal candle to continue the downtrend, or a break above for a deeper retracement up to daily resistance (Purple zone). On the watchlist for the upcoming week!
GBPCAD 4HPrice broke daily resistance & validated as support, price should now make its way up towards 1.80000
USDJPY 4HPrice now getting close to its descending trendline & resistance, now waiting for a reversal candlestick to go short or a break & retest of resistance & the trendline to go long for a deeper retracement
EURCAD 4HWatching price for a breakout of bounce.. Price is rejecting off a strong weekly zone, we could see a potential reversal with cad pairs.. I will let price action tell the story
GBPAUD DailyAfter price made a false breakout, now we can see price may be coming up to make a triple top, where ill be watching for a rejection candlestick to enter short or a clean breakout & retest of the ascending trendline for entry.. Patience is key
AUDNZD 4Hprice following a nice downtrend, will now be watching for a break of support & retest rejection for continuation down to the next area of daily support..
EURUSD 4HPrice getting close to its ascending trendline, that will be the decision point for this pair whether price will bounce or break support & retest for a deeper pullback .
XAUUSD 4HApproaching trendline support, this will be the decision area whether price will bounce back to the upside or break & make a deeper pullback.
Correction incoming? How uptrend breaks fool peopleWe saw nice gains in the last 6 days, but was it easy to think long all the time?
BTC has pulled off two times the exact same trick to fool people into thinking bearish!
That pattern is "designed" to make it look bearish and get longs out and draw shorts in.
Then of course another big uptrend starts, fueled by people who buy in again and stops of shorts being hit!
In the chart I have shown how the structure works:
1. There is a nice big 1.leg up, clearly uptrend
2. Then several things happen, which make it look bearish:
- break of the uptrend line
- prices move below EMA
- 2 legs down (red arrows)
- finally there is even a support broken after two legs down
3. Now a (big) bullish candle marks the start of a new upward move, which then establishes a new 2. equal length leg up
Conclusion: If you see an "easy" short entry after a strong uptrend in Bitcoin, think twice and do not expect a big reversal right away.
These bearish structures are often the start of the 2.leg and can be very profitable entries (green arrows), but they are "harder" to take because of the more scary bearish signs.
What is happening right now?
Prices have reached the target of the last 2.leg at 11650. A little double top at 11550 was broken and we have a clear uptrend channel. It might look like super bullish, but this often a point from which a correction starts. The first downside target would be the 11240 level, which is the breakout area. There is also a possible bigger range, which gives a target of 10800.
CADCHF 2HI am active on this trade, price broke back above a supply zone, now validated as support. Very good risk to reward ratio & potential swing trade here.. Stop loss is the red line
Trade safe & let the pips be with you :) !
Re Analyze of EURUSDWaiting for a clear break of the trend line with a retest or a bounce back from the trendline.
There is quite a bit of news for both the Euro and the US in the coming hours so very minimal stop loss with minimal lot size .
EURNZD 4HSeeing a good potential short opportunity here.. Price retesting broken support as new resistance, & is at the 50% retracement level. Will be watching for a break & retest of the 38.2% fibonacci level for entry
ETH/USD - Testing Important Zone - Downward Trendline from ATH!My first video on ETH and to me it looks like ETH is getting close to making a decision on the direction she's looking to go.
Price action is just below and overall downward tend line from all time highs, so I believe we'll need to see a significant break and close above this area to see price action to start a trek above 1K again. I do believe we might see a little downside movement before she's really ready to pop. We will see!
I hope you enjoyed the video... give me a like and your opinion!
DXY DailyPotential double bottom here to monthly support, which price could see a potential reversal. A break of that counter trendline may start a new trend
GBPAUD 4HHead on shoulders pattern. Price is showing some pressure to its supply zone showing signs of bearish movement. A retest to the supply zone is potential for entry or wait for a break & retest of prices initial ascending trendline..
CADJPY 2HThis pair is setting up for a potential bullish reversal, hitting a strong demand zone on the daily time frame..
