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EGLDUSDT Wants to have a breakout from the Weekly resistanceThe price got a rejection from the weekly resistance on 164$ and not the price is creating another bull flag above the previous descending channel the price retested the previous dynamic resistance as new support exactly at 0.618 Fibonacci level. How to approach? The price needs to have a breakout from the weekly resistance and descending channel. Beware to the left, you can find the supply zone. So if the price is going to have a breakout, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
2
bull channel in a bear market!Hello everyone As we witnessed, the support level of 41200$ didn't make it and and turned into our resistance level and we had a bearish spike under 40000$ support level , volume held the price pretty well and considering that the 38000$ level is a nifty one,and the candles in higher time frames ( weekly & monthly) show a bright future for the holders. But in 4 hours cheat, after about 12 days of bear market (red channel), now we have a bull channel ( blue channel), and as I'm analysing right now , I can see candles with long shadows, which means that not bears nor bulls having any activity right now.This usually happens when market is waiting for a news or a big buy. For those who fancy the investment option this might be a good opportunity to buy ( this is not a financial suggestion, this is my simple opinion).
by HubAlgo
1
IOSTUSDT is creating a descending channelThe price is testing the 0.786 Fibonacci level on the daily timeframe on the weekly support (0,028$) On the 4h timeframe the price is creating the main descending channel and the market is creating a channel within it. How to approach? The price could retest again the 4h demain on 0.027 if the price is going to lose the dynamic support. According to Plancton's strategy , we can set a nice order The scenario is invalidated if the price is going to have a breakout above the monthly resistance (0.32$) ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
11
EURNZD Trade Idea - Elliott WaveLet’s discuss the price chart of the EURNZD currency pair based on the 120 minute timeframe. From the Elliott Wave perspective, the price action is moving in a corrective channel within Wave (iv). It is approaching a critical Fibonacci retracement level of .618 which should act as resistance. From the Hurst Cycles perspective, the composite model line which measures the combined cyclical pressure, topped on April 1st (red vertical line), and is projected to form a bottom on April 25th. Based on this, we can expect prices to break below the corrective channel and head lower from there. Beyond that the low of Wave (iii) will act as an important support level, however, this leg down which would be wave (v) should ultimately break below this level. If you find this analysis useful, make sure to press the “Like” button and comment.
Short
by ForexTrainingGroup
SOL reversal Price was in falling wedge, broke to upside and made large move. Price has since came back down to daily support and 38.2% fib retracement and is at lower bb band on 4 & 1h charts. We have bullish divergence on 1h chart and a high volume hammer on previous hourly close showing bull strength at support. On the 15 min, we saw price break and hold previous structure with a wick down before closing higher. We have multiple high volume bullish candles in a row on 15 min showing bullish institutional intrest at these price levels Stop loss: Below daily zone, lowest low Take profit: At previous high of recent move
Long
by CMSTrading
ETHUSDT is creating a channelThe price is creating a channel between the demand and supply zone on 4h timeframe. on the daily timeframe, the price is trying to hold the 34100 support and retested the previous W's neckline. on 4h timeframe the price lost the channel, and now the price is testing the previous dynamic support as new resistance How to approach? - for a bullish scenario, the price needs to flip the 3520$ with volume and momentum, the price created a double top on it. - Otherwise, if the price is going to lose 3240, we could see a retest of 3k According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
by InkyGrip
10
Luna Ascending Channel formationAfter an unexpected rebound at a higher price than expected, Luna is begining to form an ascending channel within the already existing channel on higher time-frames This type of patterns tend to have a lot of different resolutions, instead of trying to guess which is going to happen, it is more intelligent to let it develop and enter at the boundaries of said channel, only when the movement is clear and always with a tight SL. As for now, it is looking quite bearish for the next 12 hours or so. After a red close, one can consider looking for a short entry with a SL set around the 94$-ish price level and a TP around 91.5$-92$ price level
Short
by CryptoDexHead
GBPUSD Setup For Bearish Correction GBPUSD has just reached the upper boundary of the downward channel it's been trading within for the past 6 months. As price entered this upper boundary area the RSI briefly reached >70 on the 6H before being rejected. Meanwhile on the 2H chart price has been showing textbook bearish divergence - 3 significant, consecutive lower highs on the RSI while price continues to climb, showing that the strength of the uptrend is dying out as the price reaches the upper channel boundary. Expect a bearish move for a continuation of the channel. Short positions may find a good stop loss option directly above the upper channel boundary. Always ensure your stop and target offer you a positive Risk/Reward ratio. I personally target 2 R trades that ensure I only need 33.3% win rate to break even, and a 50-60% win rate is highly profitable.
Short
by HayeTrading
20