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Textbook Consolidation Rectangle -EGHere we have EUR/GBP on the 4Hr Chart in a beautiful textbook example of a Consolidation Rectangle Pattern! Clearly respecting a Resistance @ .87403 and Support @ .86829! Accompanying price on my chart is the 200 EMA with price ABOVE it showing it has been BULLISH with the dirty test prior to the pattern. Along with the Bollinger Bands showing CLEAR signs of sideways trajectory! Fundamentally for today: EUR - Spanish Unemployment Change @ 3am and Unemployment Rate @ 5am GBP - CIPS UK PMI @ 4:30am and MPC Members Pill & Haskei speak @ 7am & 11am As far as directional bias, I will be neutral on this pair until we are given a proper break with added confluence of other factors pointing to solid momentum! *Chart patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!!
by Novi_Fibonacci
EURNZD LongList of confluences: 1:Stop loss hunt at previous low on weekly chart 2: Double Bottom formation on daily chart around previous low on weekly chart 3: Daily chart and H4 trendline breakout Summary: Price is currently over extended and has been moving in a down trend for 3 weeks straight. We are looking for a potential pullback to just above the 50% (1.69187 - 1.68428) of the previous down trend. There's is a potential for strong mean revision to take place allowing big players to hunt some stops and grab some liquidity before we see a continuation to the downside. You could add a 6Ema and 30 SMA on the H4 time frame for more confluence. This trade is expected run for the next 8-9 trading days or until the target is reached, whichever comes first. Always remember to Buy to the low and Sell the high in the direction of the trend
Long
by NDOBObanks
1
BTCUSDT The Dirty Technical Analysis 6/1/2021 (CLEANED A BIT) BTCUSDT / BTC USDT Bitcoin US tether. #BITCOIN #USDT #BITBAY HOW I WILL FARM THIS MARKET GAINIING TOTAL OF 500% from alts / bitcoin / alts to Fiat USDT. (strong week for alts - but bearish for long term(monthly)) Pink rectangle should be the Sell area, Green rectangle should be my buy area. *Tips to myself is I will never fomo in to an alt that has huge gain already if I miss the btc flight... if I hold something; I will sell it all (or 50%) on the reds then continue to buy it back at the greens and time to accumulate more. never chase rather be patient. Be patient enough; That's the secret of the rich taking more profits from the impatient ones. Trade this with me... the reason why I did this is because not that I have the crystal ball with me. nor part of the whales; anytime, whales can always decide to FUD and crush the market if they have big institutions coming in. If HNS (blue) is a success expect that dip to 22K then people from huge co. or industries and retailers will buy their coins, and those who sell from 62k will buy more from 33k and waiting for 22k possibilities. from there i can say that we will be able to send greens that will break the sky and fly to the moon. possibilities: 110K from 22K BTC = expect ALTS with strong projects such as $ZIL $MATIC $XVG $VET $DOT $LUNA $ICP $TRIAS $HORD $KSM $EGLD $ADA $MATIC $XLM $XRP Psychanalysis: I always remember myself, when people fail to sell top. they hit the 7% decrease they will be afraid to sell still... afraid of "it may go up" Stop right there myself (I am talking to myself), always do the ABC break/retest whether we are coming up or coming down. Never ever fell in love with the coins when we are in a choppy momentum. Never deny that we are in the bear market (not season) because from there that the time you will lose many of your savings and profits that you could actually have pulled up long time ago. Trade the charting Trade the TA... Block all the noise. Stick to those who really know the process. BITBAY:BTCUSDT
Short
by PuyatanHoldings
GBPCHF 4H 340pip SELL. For week starting 29.3.21Wagwarn my slimes please leave feedback to help me improve and trade safe. We're looking at GBPCHF here which is very very overbought so we're looking at a nice sell. We may be abit late to this move but market open will delay if a bit for sure with some volatility and spread AIDS. Price has been ranging since the 11th March and we've seen that resistance tested 6 times since then telling us it's super strong so we can definitely expect price to reject this time around. I'll be looking to short this right after the next candle close after market open (as long as the spreads have reduced). We can see hidden bearish divergence which is much stronger on the stochastic than it is on the actual price chart - let's remember divergence is binary so it's happening or it isn't. Our stochastic indicator is super high at 92.5 (at it's peak) which is the highest it's been in a long while so we can definitely expect a big sell move on it's way. TDI is supporting this move nicely, The red line has recently crossed over the green line right at the top of the channel just under the top band, showing that the bulls have taken over and that price is currently overbought. The red line broke out above the Bollinger bands (shark out of the water) which is another indication price is massively overbought meaning a sell is coming. Even further, the TDI's Bollinger bands are diverging, showing that volatility is increasing- hopefully this is the end of the ranging period. I would set my TPs as so: TP1: 1.287 60pips TP2: 1.278 150pips TP3 (runner): 1.2587 340pips If you ask me this move is going to happen on monday or tuesday so keep a careful eye on this pair as these confluences are interesting. Have a good week Vince / Vmoney
Short
by Vmoney10
EURNZD 1D 500pip BUY - for week starting 29.3.21Hey guys hope you're doing well reading this. Fib drawn between yearly high and lows - recent spike brought us up by roughly 400pips, we're currently seeing exhausted / rejection candles forming an arch shape, like an upside down "U" which is much clearer on the 4H chart. This is a less common trend reversal pattern, but we can put some faith in it as price is exhausted / rejecting of the 0.618 fibonacci level which is a good sign. This fibonacci level also back tests nicely to show a common area of resistance We can see great divergence on the stochastic and macd indicators suggesting there's an incoming sell move. Price is also at a monthly high so psychologically speaking selling pressure should increase. We'll have to wait this out for confirmation as the Euro has been getting stronger towards the end of this week. For confirmation we can wait until a strong candle crosses and closes below the orange trend line which has only recently been broken for this first time. As always any advice is appreciated Vince / Vmoney
Long
by Vmoney10
EURCAD Long with 2 listed confluences (Zero Indicators)Confluences: 1:Daily Chart Trendline Breakout 2: Daily Chart Bullish Engulfing Candle Entry: An entry in the early hours of Friday Morning (Before London Session) is best. Trade will run for 2-3 day or until target is reached. Whichever comes first. Summary: EURCAD is in a strong down trade on the Higher time frame such as the monthly and Weekly. This is why this trade will be held for a short time due to it being a counter trend trade. We should see a bullish pull back towards 1.50000 area before price continues in the dominate bearish trend.
Long
by NDOBObanks