Daily Charts
xauusd|Suitable positions to enter sales transactionsHi guys, I hope you are doing great.
We don't have very important news today, so I think gold will continue its trend slowly.
The resistance zones drawn on the chart, the first one is the resistance zone in the 15m time frame and the second one is drawn in the 1h time frame, consider these two zones, after seeing the candlestick patterns and receiving confirmation, enter into sales transactions, stop The loss is placed above the area.
Targets can also be seen on the chart. I hope you use this analysis and be profitable.
43K is vital for bullsMorning folks,
So, our 47.35K target has been hit on fake ETF approvement ;) Anyway, right now the major question is about stability of demand. Ambitions and emotions have got a release after ETF approvement and we have to be sure that bulls have sufficient power to keep moving higher.
Because technically market has no problems for upside action - no overbought, no strong resistance levels above - bulls have to prove its ambitions and that bets were not just on ETF approval.
To do this price has to stay in tight consolidation above ~42.80-43K daily support area. That's why for now, we consider only long entry inside this consolidation. If price breaks down 43K - bearish setup will become possible again.
Long term upside target stands around 50-52K.
eurusd buy analysisFX:EURUSD
Overall structure based on the weekly,daily,4h and 1h is bullish with price finding support on the 1.09395 weekly support area.
41K might be re-testedMorning folks,
So, just we've completed with triumph our bullish setup on Monday - situation has changed drastically. Drivers of collapse is a separate topic for discussion. But it seems that market is very nervous now, not knowing in what direction to follow. This in turn tells, that ETF background as a driving power of the bulls is exhausted.
Today we do not have any clear patterns. But taking in consideration few moments on daily chart, like failed upside breakout, Wash&Rinse all stops that have been placed around it and downside momentum, I would stay away from any long positions by far.
Strong daily K-support was able to stop the tragedy. But momentum down is strong and we suggest that BTC still could re-test this level of ~41K area, before direction could change.
GBPUSD SELL ANALYSISFX:GBPUSD
Overall structure based on the weekly,daily,4h and 1h is bearish. A break and retest below key support area with bearish engulfing candlestick being my entry confirmation
BTC keeps bullish contextHappy New Year to everybody!
Hopefully you're feeling well after furious celebration ;)
So, BTC keeps bullish context. Despite our recent idea with H&S has not been materialized, but BTC keeps vital condition for bullish context - it remains inside the triangle.
Besides, now, we have another reverse H&S with absolutely the same potential entry area around 42-42.5K. Also bullish divergence is here...
Currently bullish setup is not totally flawless, it has some tricky moments (we still have bearish grabber on daily) and yes, it depends on ETF news and approvement moment. At the same time, it doesn't mean that it is forbidden long entry. With some reasonable degree o care it is possible. But you pay for higher risk trying to get better entry point.
Still, it is nothing bad with conservative approach either. Just to wait when upside continuation starts and try to enter on local pullback. This is also the strategy, why not...
CADCHF Exhaustion Longer Term LongI've been tracking the selling of this pair for some time and I think it's time for a correction. Yesterday we saw a big sell off presumably to clear out some stops which lead to buyers coming in and an interesting daily candle close. That's just the story but if you're looking for technical evidence it's lining up nicely with the parallel dynamic support/resistance trendlines as a great place for long entries giving good risk reward for those willing to wait it out.
Bearish risks still exist. 42.5K to watchMorning folks,
So, downside action has happened, even deeper than we thought. Bearish grabber on daily chart still exists and suggests potential drop below 40K area. Still, this is just the pattern and could fail as any other one. To bet against it or not - this choice is up to you, we just share with our thoughts on the suggest.
First is, downside action on daily is a bit heavy. It is clear that market resists and traders are buying on deeps.
Second - BTC stands in triangle shape on 4H chart which is also potentially bullish.
Finally, on 1H chart upside recovery is relatively fast and is taking the shape of reverse H&S pattern. So 42.50-42.60K is most comfortable area for position taking and you do not need to place too far stop. Because if BTC keeps upward action - it should start right from here. If not - it is not make sense to place far stop, because drop anyway will be deep.
So, the only decision that you have to make is whether you're ready to go against daily grabber. If not - then sit on the hands. If this risk is acceptable to you, then you could try carefully to buy some coins around...
btc cup and handle inside cup and handle major and minor (1d)it's cool when this stuff happens
even cooler being able to see it
major and minor trends coinciding into one big move
SasanSeifi 💁♂METIS/ USDT DAILY Hey there! By analyzing the METIS chart on the daily timeframe, as you can see, the price has shown positive fluctuations from the support zone at $11. With the candlestick behavior, one could anticipate that following minor oscillations and maintaining the order block range of $11.80 / $11.50, we can consider price targets of $14 and $15 in the supply zone.
✨What's your opinion? Do you agree?
🔵Remember, always conduct your own analysis and consider other factors before
making any trading decisions. Good luck!"✌️
❎ (DYOR)...⚠️⚜️
Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help!
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42-43K seems vital supportMerry Xmas everybody,
So, our suggested pullback to ~43K support has happened. But the problem is - we've got the daily bearish grabber with discussed "222" Sell. Grabber suggests drop back to ~ 40K lows...
It means that current level is vital for BTC. If it still has bullish sentiment, it should start raising now and erase the grabber. Otherwise, if K-support will fell, BTC has big chances to return back to ~40K area
usdjpy sell analysisFX:USDJPY
Overall structure based on the daily and 4h is bearish. price broke countertrend structure on the 1h and made a retest to the new resistance area. Entry is based on the bearish engulfing candlestick the the 30 min timeframe
Pullback to 42.75K at leastMorning folks,
So, our bullish setup has worked properly, market has completed intraday XOP around 43K area.
We suggest that in perspective of 1-2 weeks BTC has good chances to proceed higher and challenge local top.
But for now, as we're coming to long holidays and we have "222" Sell in place on daily chart, we suggest retracement, at least to 42.70-42.75K area before any continuation will happen.
40.25K lows seem vitalMorning folks,
So, BTC has failed immediate upside breakout, although it really has tried... Now it seems that market is not too happy with recent Fed decision and has not joined to common euphoria. This is understandable, because number of BTC rivals now are increasing.
Still, we suggest that bullish context is not totally destroyed yet and mostly depends on 40.25K lows. BTC now is forming big triangle on 4H chart and we have "222" Buy inside of it. If lows holds, BTC could start moving back to top again. Especially if Dollar becomes weaker.
Bears should consider the opposite scenario - downside breakout of the same lows. Either to use stop "Sell" order around it or to wait for breakout...
Puny upside spike to ~43.70Morning folks,
So, daily momentum trade has worked nice, minimal 43K target is completed. Now the major riddle stands around current rally - whether this is continuation of major tendency or 2nd downside leg is still possible.
So, once 1H chart target will be achieved, we intend to see what market reaction will follow and what patterns will be formed around it...
ASIA - GBPCHF - B&R - DEPLETIONTIMING: Asia
LEVEL: Daily, Weekly
SETUP: Break & Retest
ENTRY: Depletion
nzdjpy short analysisOANDA:NZDJPY
Break below 89.640 weekly support and price made a retest at what is now 89.640 weekly resistance. a bearish engulfing candlestick on the 4h and 1h is confirmation to go short. Also the 61.8% Fibonacci retracement level at 89.640 weekly resistance is a strong confluence
Look At That Textbook Bull Pennant On The Bitcoin Daily ChartWould you just look at that beautiful, textbook bull pennant on the Bitcoin daily chart! You can't get much more textbook than that. What I am thinking based on this chart is that Bitcoin will make at least one more big rally this week up to that big supply zone between $47K-49K.
How this move happens has yet to be seen. We know that none of us have a crystal ball as much as we may think we do, and we need to take the data one candle at a time, but this is looking pretty bullish to me for the week.
Now, I fully expect Bitcoin to have a pretty major correction once we get to that supply zone. That bearish order block was formed at a pretty strong level so I fully expect for people to take profits in this area and looking for Bitcoin to make a correction, or at least some good consolidation so that we have a chance to repack our bags for the next moon shot.
We are still a few months off from the mining rewards being cut in half and anticipation is building. The ETF talk has got the markets all stirred up, so I am just taking it one day at a time.
Be safe out there in the crazy crypto markets! Nothing is set in stone and this is only my somewhat educated guess on what I see happening this week!
Trade Logically!
GBPUSD SHORT ANALYSISFX:GBPUSD
Break and retest below 1.25458 4h support and price retested at what is now 1.25458 4h resistance. 1h bearish engulfing candle is my entry confirmation
NZDJPY SHORT ANALYSISOANDA:NZDJPY
Overall bias on NZDJPY is bearish with the daily, 4h and 1h confirming my bias. Price broke below 88.962 4h support and made a retest as 88.962 4h resistance with a bearish engulfing candlestick on the 30 min and also a break of countertrend structure on the 15 min being my confirmations to go short on NZDJPY
Bounce at least to 43KMorning folks,
So, Thu plan as worked accurately - BTC has dropped precisely to 41K support area. Now it stands oversold on daily chart and near strong Fib support.
Thus, we do not consider any shorts by far, but watching for scalp bullish positions instead, suggesting that upside bounce should be at least to 43K area (or even above the top if BTC wil form bullish daily grabber today).
Right now it is not clear what particular pattern will be in foundation of upside bounce, but in similar cases, markets very often form "222" pattern. Let's see...
~41K areaMorning folks,
So, BTC shows great performance, now it almost at the eve of our primary upside target around 48.5-51.1K area. Still, BTC hits overbought on daily chart, and it would be reasonable to wait for moderate bounce. 41K area now seems suitable for this:
