GBP-USDGBPUSD is currently traded at 1.22250. The market created a support area at 1.2200 and that is also a demand area. In a 4-hour timeframe market makes a pennant breaks with high momentum and now retests the support and demand zones.
Demand Zone
GBPUSD Long towards 1.22800 (possibly higher)For today's GU breakdown I will be looking for buys from current price as it has tapped in a nice 6hr demand zone that has caused a BOS to the upside. As we have seen from last week's GU analysis we did anticipate scenario (A) to play out and it did so perfectly. Now, we are looking for buys back up as it has filled in the major imbalances left from before.
On Monday I will be looking for a clean entry where I can continue this trend that GU has set to the upside, possibly causing another rally to the upside and a new BOS. In addition to this, the zone also lies between the 0.78 fib range which is a good confluence that price will respect this AOI. As this is an uptrend I can also expect price to push past the 11hr supply (where the take profit target is) and mitigate the extreme supply above it.
Confluences for GBPUSD Longs are as follows:
- 6hr demand zone lies between the 0.78 range on the fib tool.
- Demand zone has also broken structure to the upside following short term bullish trend.
- Price has completed a wyckoff accumulation schematic and CHOCH'd to the upside.
- Lots of liquidity lying above i.e. asian highs and imbalances that need to be filled.
- Dollar index also looking bearish as well good confluence for GU to then push upwards.
- A lot of rejection candles inside zone as well as a consolidation (good sign that price is going to respect that POI.)
P.S. I am still temporarily bullish, but my overall bias is bearish (looking at the monthly/weekly time frames.) Price has also slowed down and sells are getting exhausted hence the consolidation In our POI. I would be looking to see how this plays out on Monday before CPI, then re assess my next potential trading setups for the rest of the week.
EUR-USDThe EURUSD currently traded at 1.06850 price. And the support and also demand area at 1.06600-1.06500. Market is test three time and gain momentum to pull the price upward.
XAUUSD Longs from 1920 up towards 1960 (possibly higher)Gold is now looking very promising for another impulsive move to the upside which I'm expecting to happen around the price of 1920-1930. As price is approaching I'm waiting for a wyckoff accumulation to play out and a clean CHOCH so we can enter our buys back up.
As there is some asian lows around that region between the 5hr and the 4 demand, I would wait for that to get taken in the form of a spring to generate a better quality setup without there being potential reversal magnets against our trades. We will be targeting the 1960 POI as there is a good supply there that could potentially get respected however, as there is lots of liquidity lying above I would be expecting all of it taken as I am overall BULLISH on gold.
Confluences for XAUUSD Longs are as follows:
- Price approaching a strong level of demand (5hr & 4hr) that has caused BOS to the upside.
- The trend of the market is overall bullish and expect gold to take ATH's eventually.
- Price has swept lots of trend-line liquidity on the way down and has filled in imbalances that was left from the previous impulsive move to the upside.
- Lots of liquidity lying above in the form of trend line liquidity and lots of untouched Asia highs.
- Bearish momentum is now getting exhausted as we see price slow down ready for a potential reversal in the market back up.
P.S. Im looking forward for this move to play out post CPI as I don't personally trade news events due to its extreme volatility. However, as this will be a trade with the overall trend we can definitely be expecting another major rally that will break structure the upside.
Historic supportNo price action yet but price is landing on a historic trendline from 2009 and also strong pivot point. Seems like the 80 level is key and bulls will defend it. Open a small position and add when you see price action in the daily. I don't think is going to break down that easy. Will be fight.
Looks like a retestEarnings punished this stock and pulled it back down to the support area at 140. Is a good company so I bought the stock at current levels. On the other hand I think is going to try again to break up the 180 level. I don't mind holding this one for several weeks.
Bitcoin's Tight Squeeze: Are We Preparing for a Big Move Up? 🚀Bitcoin (BTC) is experiencing a period of intense consolidation, characterized by narrowing price ranges and increased trading activity. This compression often precedes a significant price movement, and based on the current dynamics, many traders are gearing up for a potential bullish breakout.
Squeeze & Liquidity Sweeps: The Tug of War
In recent market sessions, Bitcoin has been exhibiting a strong squeeze pattern, causing price volatility to contract. Despite this tightening range, there's a noteworthy trend – liquidity sweeps are primarily occurring on the upside. Liquidity sweeps involve large market orders that briefly dip into specific price levels to trigger stop orders or accumulate positions.
What's Ahead: A Retest of the Daily Imbalance
As we navigate this period of compression, many market participants are keeping a close eye on the daily imbalance level around $31,000 - $32,000. The significance of this range lies in the liquidity dynamics. Traders are eyeing a potential retest of this zone, which, if successful, could trigger a renewed bullish momentum.
Trading Strategy: Navigating the Uncertainty
For traders, the current situation is both a challenge and an opportunity. This tight consolidation phase is an ideal time to refine trading strategies and adopt risk management techniques. The impending price movement might provide exciting trading opportunities, but it's essential to be prepared for both bullish and bearish scenarios.
Conclusion: The Calm Before the Storm?
While Bitcoin may appear to be in a tight squeeze, the market is far from idle. Liquidity sweeps and the potential retest of the daily imbalance zone add complexity to the picture. With these dynamics in mind, traders are ready to seize opportunities as they arise, whether it's a breakout to the upside or a different turn of events.
🚀 Crypto Insights | 💡 Trading Strategies | 💰 Market Analysis
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Share your thoughts and analysis of Bitcoin's current situation. 💚🚀💚
BTCUSDT. Short and medium term analysisHi traders!
You can consider buying if the buyer protects
the hourly level of 35086.57,
the daily levels of 33390.95 and 31804.2 (associated with exiting the sideways market)
and the medium-term support level for the long-term trend at 24800.
As for selling, there is currently no context.
Take note of the 10D timeframe. After breaking out of the sideways market that lasted from January 2021 to May 2022 and initiating a short-term trend (with two waves), the price returned to the sideways range (with the lower boundary at 26700). If the buyer defends the last closed candle, then technically, the path is open to 40000, 48000, and 59000.
Possible retestWe may see a retest soon. I'm speculating and buying calls expiring on 11/03. I may buy more tomorrow and Friday if price action helps. The ETF is clearly oversold and hitting a strong support. We might have a couple of green weeks in he near future.
USDCAD LONG POSSIBILITIES Hi guys, In this analysis I will be covering USDCAD. LEVEL 1.3891 has been acting as a resistance and price has already tapped into it multiple times. Should price begin selling off from this level, The first demand level would be 1.3832 and the one after that would be 1.3804.
One other scenario is that price breaks through the immediate resistance with a fake out and taps into supply zone which is 1.3925 then starts selling off.
One thing we should consider is Federal fund rate which is going to be publish later today and it will heavily impact the market. so be extremely cautious while taking trades on any of these levels.
Be honorable
EUR-USDThe eur-usd pair currently traded at 1.05300 at its support level. And there is also a demand zone in this support area.
Bullish on BMY.
We are in a major weekly demand zone here as you see. Yes, we have entered it fast but I like how Friday's daily candle rejected the zone, I will be looking for a bounce for at least this upcoming week.
S&P 500 Index. Is it time to short?On the weekly chart, there was a sideways movement from May 2022 to June 2023. It had a breakout with an upward trend (two impulses). The price returned to this sideways range six weeks ago. For the past four weeks, it has been hovering near the upper boundary of the sideways range, unable to close any weekly candles above it. There's a high probability that the price will test the lower boundary of the range at 3636. I made this note a week ago; it's time to update the forecast.
On the weekly chart, there are two seller candles on increased volume, which created a seller interest zone with the lower boundary at 4204.3. The most recent weekly candle closed within the historical weekly buyer interest zone with the upper boundary at 4141.8 (historical zones typically don't result in strong reversals). It is possible that the buyer will return from the zone and test the current seller’s zone with the lower border of 4204.3.
On the daily chart, the price broke below the lower boundary of the daily sideways range with increased volume. The lower boundary of the daily sideways range coincides with the lower boundary of the current seller interest zone on the weekly timeframe (4204.3), which the buyers haven't yet tested on the daily timeframe.
Pay attention to how the sellers closed the daily candle on October 26, 2023. They approached the historical buyer zone and waited for a buyer resurgence. On October 27, 2023, buyers attempted to make a comeback (as seen in the wick of the candle) from this historical weekly zone. However, sellers effortlessly prevailed over buyers on falling volume.
There was no buyer at the lower boundary of the daily sideways range, and currently, there is still no buyer.
Sales can be sought from the current seller's zone, including protection by the buyer at the level of 4204.3 or from the candle on 26.10.23. The target is 3696.2. The first obstacle for the short position might be the 50% of the latest weekly momentum.
As for buying, there's no context for it at the moment.
Good luck with your trading!
Disclaimer:
This case study is for educational purposes only and does not constitute investment advice or recommendations.
The trading or investment ideas presented here are for illustrative purposes only and are an integral part of a case study demonstrating the concepts of using volume to analyze or trade within the market scenarios discussed.
MSFT. Forecast especially for my beloved brotherEspecially for my beloved brother, who likes Microsoft (MSFT) stocks.
On the weekly chart, we have a sideways pattern. The price has played out vector 10-11 and is currently forming a bearish vector 11-12 within the sideways range.
The daily chart also shows a sideways pattern. The bearish vector 9-10 has been technically played out. However, a significant selling zone has formed almost throughout the sideways range, triggered by the candle on 25.10.23, which incidentally had the highest trading volume in the last 3 months. The zone was tested by the candle on 27.10.23, The seller resumed from the zone, as indicated by the candle's wick.
The most likely scenario is for the price to break out of the daily sideways range to the downside (lower boundary at 324.39), protect this breakout, and play out the bearish vector of the weekly sideways pattern.
Targets for short positions:
309.5 - the lower boundary of the weekly sideways pattern.
295 - the extremum pierced by the candle on April 24, 2023.
275 - the buyer's zone at the lower boundary of the monthly sideways pattern.
If a buyer emerges at the lower boundary of the weekly sideways range, targets 2 and 3 may become irrelevant.
Good luck with your trading!
Disclaimer:
This case study is for educational purposes only and does not constitute investment advice or recommendations.
The trading or investment ideas presented here are for illustrative purposes only and are an integral part of a case study demonstrating the concepts of using volume to analyze or trade within the market scenarios discussed.
Demand zone for Lowes.
As you see here on Lowes, we are entering a demand zone. I will be looking to see how the heikin ashi candlesticks react to this level. I will also look for a bounce with high volume to validate my entry. Thank you as always for checking out my analysis.
Check this outThe pair jut landed on a strong support zone. I just opened a long position, I know there is no price action yet but I prefer to deal with a tight SL, also It could shoot up overnight while I'm sleeping :D. On the other side, the Dollar looks strong among other pairs.
S&P500: Reaccumulation and Outlook for End of 2023Following the significant downturn of the S&P500 yesterday, the forecasts I set out on October 23rd are taking shape. I had hinted at the potential outlook of a market correction in the last week of October, and now, we find ourselves in a critical zone that could signal a reaccumulation period for institutional investors. Below, I illustrate the technical and fundamental reasons that strengthen this theory:
COT Report Analysis: A look at the Commitment of Traders (COT) report highlights that Asset Managers added approximately 500,000 long positions in the week of May 2, 2023. Conversely, Dealers, operating as market makers, accumulated about 300,000 short positions. This indicates potential reaccumulation in this price area, especially considering the POC (Point of Control) of the volume profile, which currently marks 4143.00.
Historical Trends: Historically, September has been a tumultuous month for stock markets, with October often following a similar trajectory, albeit less accentuated. However, the months of November and December tend to reverse this trend, often bringing optimism and rallies to the markets. This tendency could be further amplified by the upcoming quarterly results from Nvidia and the expected data on the Core CPI, which could indicate a reduction in inflation, given the persistence of high interest rates.
10-Year Treasury Movement: The curve of the 10-year US Treasury bond is showing signs of exhausting its bullish trend, having recently touched 5%. While it could reach higher levels, I see this escalation as increasingly improbable.
CBOE Skew Analysis: The CBOE skew index, a market asymmetry indicator, has shown a marked decrease, currently standing at 132. This suggests a possible reduction in the perceived market risk, hinting at the idea of an impending rally.
In conclusion, based on my market analysis and knowledge, I am inclined to maintain a positive outlook for November and December. It's interesting to note that, from my perspective, the current price of the S&P500 is balanced compared to the lows of October 2022, suggesting that the idea of an imminent rally is not out of the question. However, as always, it's essential to operate with caution and information, as market forecasts inherently carry risks and uncertainties.
Crude oil. Is it time to buy?On the daily chart, the price is in a sideways range. The short vector 5-6 has been played out. Yesterday's candle broke the test level (84.39) of the daily buyer zone on volume.
On the hourly chart, there is a trend. The level of 86.3 serves as support for the short trend. After breaking the daily level of 84.39, accumulation takes place.
Since the short vector in the daily range has been played out, it's worth considering long positions to play out the long vector 6-7.
Aggressive local purchases can be sought above the level of the daily test at 84.39 if the price exits upwards from the accumulation, stabilizes for an hour above 84.39, and is then protected by the buyer.
Systemic local purchases are advisable to look for when the price overcomes the support level of the short trend on the hourly chart (86.3), and then the buyer protects this level.
Local sales can be sought from the protection of the seller at 84.39, if during the attack on this level, the buyer cannot absorb the last successful candle of the seller (time: 11-00).
Good luck in trading!
Disclaimer:
This case study is for educational purposes only and does not constitute investment advice or recommendations.
The trading or investment ideas presented here are for illustrative purposes only and are an integral part of a case study demonstrating the concepts of using volume to analyze or trade within the market scenarios discussed.
S&P 500 Index. There is no buyer nowOn the daily chart, the price is at the lower boundary of the sideways range. Yesterday's trading day favored the buyer with decreasing volume.
On the hourly chart, the buyer resumed from the key impulse bar and twice attempted to breach the level of 4259.2 on volume but failed to do so effectively (failed to close an hourly candle above the level).
The buyer has not made a strong presence yet.
As mentioned earlier, local sales yesterday were observed from the level of 4259.2. For systemic sales, it is advisable to wait for the price to interact with the daily candle of October 19, 2023. Or after a successful breakout of the lower limit of the daily range and the seller defending this breakout.
Local purchases can be sought upon the buyer's protection level at the lower boundary of the daily range: 4217.4. Targets are 4259.2, 4269.9.
Good luck in trading!
Disclaimer:
This case study is for educational purposes only and does not constitute investment advice or recommendations.
The trading or investment ideas presented here are for illustrative purposes only and are an integral part of a case study demonstrating the concepts of using volume to analyze or trade within the market scenarios discussed.
GBP-USDThe GBP-USD pair currently traded at 1.21200 near a support level that is 1.20900-1.21000. The market reached a level in NY session. And then, also move upward.
S&P 500 Index. Will there be a buyer?On the daily chart, the price interacted with the lower boundary of the sideways range on decreasing volume. The buyer has not yet made a strong presence.
On the hourly chart, a buyer's zone has formed at the lower boundary of the sideways range.
It is more favorable to seek short positions from the daily candle of October 19, 2023, as previously mentioned. Local sales can also be considered after the seller's protection of 4238.4 or 4259.2. Targets are 4217, 4204, and possibly an update of local lows. One should observe how the price passes through the buyer's zones.
Local purchases can be sought upon the resumption of the buyer from the buyer's zone at the lower boundary of the sideways range. Protection level 4217.4 or 4204.3. Targets are 4238.4, 4259.2."
Good luck in trading!
Disclaimer:
This case study is for educational purposes only and does not constitute investment advice or recommendations.
The trading or investment ideas presented here are for illustrative purposes only and are an integral part of a case study demonstrating the concepts of using volume to analyze or trade within the market scenarios discussed.
BTCUSDT. The buyer is currently stronger.The daily candle on October 22, 2023, closed above 29695, making it more favorable to look for long positions at the beginning of the week. As a result, on the daily chart, the price has effectively exited the sideways range.
As long as the price on the daily chart remains above the boundary of the range, it is preferable to seek long positions, assuming that the buyer will defend the exit from the sideways range. If the price on the daily chart returns to the range, it becomes more favorable to look for short positions after protecting the upper boundary of the sideways range.
On the hourly chart, there is an ongoing long-term trend. Long positions can be considered upon buyer protection of their areas of interest in the last impulse, such as 32500 or 31804. If the buyer shows a new impulse, long positions can be sought from the buyer's areas in the new impulse. Sales are advisable to consider only when the price on the daily chart returns to the sideways range.
Good luck in trading!
Disclaimer:
This case study is for educational purposes only and does not constitute investment advice or recommendations.
The trading or investment ideas presented here are for illustrative purposes only and are an integral part of a case study demonstrating the concepts of using volume to analyze or trade within the market scenarios discussed.
Bullish Trend Perspective
Weekly analysis indicates a sustained bullish trend for EURUSD.
Trading Strategy:
Monitoring the 1-hourly chart for a potential Bullish Bat Pattern with an entry point at 1.0533.
Cautionary Note:
It's crucial to observe that point C touches point A in the formation of the Bat Pattern. This warrants caution and prevents me from placing a pending order to engage the trade.
Remember to conduct your own due diligence and manage risks appropriately. Happy Trading!
