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MULTI-TIMEFRAME ANALYSIS - GBPUSDGBPUSD recently broke out of its 1D descending parallel channel, which seems to be a bullish flag, it then re-tested the channel thrice with the last 1D candle closing as a bullish spinning top. 1D Analysis The Friday candle closed as a bullish spinning top after its retest of the 1D descending parallel channel, this could be a possible indication for a reversal to the sell trend prior to the bullish spinning top. A successful bullish spinning top might create a possibility where the pair heads to re-test the 1D disjoint channel resistance as it did prior to it starting the sell trend. This would however require the 1D candle to close above the support turned resistance of the disjoint channel as it closed on the support when retesting the descending parallel channel. 4H Analysis The pair closed its last 4H candle as a doji after testing the support zone it had trouble breaking below. This might be the indication that the pair is uncertain about breaking below the zone. The pair can be seen within another descending channel on the 4H timeframe. A break below the support zone could lead to a further sell-off on the pair, but for the 1D bullish spinning top to be valid it would need to break the zone of its last lower high. 1H Analysis The pair closed its last 1H candle as an inverted hammer which might be another indication to confirm the 1D bullish spinning top, but the previous candle closed as a bearish spinning top which indicates that the pair might drop. The possibilities are that the bearish spinning top might be to drop the pair towards the support zone where it might be able to gain some momentum before rallying all the way back up, or it might just break below the support zone and continue with its sell-off. Another possibility might be that the inverted hammer invalidates the bearish spinning top and the pair breaks the resistance zone then gaining momentum to carry on with a rally. Conclusion Monitor the pair on the 1H timeframe to see exactly what the pair does and how it coincides with the 4H and 1D in order to make an accurate trading decision. If you liked this analysis make sure to give us a thumbs up, leave us a comment and make sure to follow us for future ideas 👍❤
by JJForexAcademy
2
Bottom Feeder Trade off momentum and market structure.*Entertainment Purposes Only, not trade advice. DYOR I really like the story behind this coin. Consistently in top 100 cryptos. On multiple exchanges. It does have a lot of outstanding coins though. Reasons for trade: Location it is between .618-.786 and at .786 off two different fibs (double entry zones) from most recent highs. It's near the bottom of its range from 4/2019. To the upside, there are a lot of gaps, wicks, and huge potential. It looks like an unconfirmed W might becoming in price action right in the entry zone, double powerful. It has a couple MACD divergences, one of them confirmed. Most recently, MACD and Price converge. There is volume starting to come in. Like the green bar action. Multiple moving average confluence. Willy has a cross and is coming out of oversold. OBV crossed the EMA. And there is market structure in the indicators: OBV, MACD, and Willy, and PA has a potential W brewing. Double dojis on daily. There is "saucer bottom" action for over a year. Trade Entry: Took fib off recent candle body (even though it hasn't closed) will try to sneak in a little pull back at 26 sats. Less than .05% of capital. Profit Target: 52 Sats at a double, sell half my position. Potentially feed the market at parking garage locations drawn from fib extension if PA W confirms. Risk: Willing to risk to zero. BITTREX:SCBTC
SLong
by Cryptough
7
Tristar pattern on USOIL 15 minute chartHappy Friday oil traders! I just noticed this Tristar on the 15 minute chart for USOIL. I had never seen 3 dojis in a row so I had to look it up. According to my reference, a Tristar is 3 doji candlesticks that appear at the end of a run, either long or short. They typically indicate a change in direction. Considering the decline in oil today, maybe this is an indication of some upward movement. If so, trade with caution, and use your stops accordingly. Trade safe, and have a great weekend!
FX:USOILLong
by Trade4God
EURJPY- QUICK LONG OPPORTUNITY COMING UPWAIT FOR A CONFIRMATION BEFORE ENTRY, PRICE STILL IMPULSIVE. As we can see price is forming a series of higher highs and higher lows, we are also respecting this ascending TL which is currently being tested as support along with the 78.6 fib level. If these two confluences holdout I am waiting for a confirmation to go long (e.g a candlestick that closes above the 50EMA, or a doji, etc). Would only be looking to target previous highs as price has not been above this level since FEB 2019 therefore it is likely sellers will take control there. Not the best risk/reward however highly probable set up if we get the right candlestick formation.
Long
by TheBearTrader1
BITCOIN BEARISH - 10,500 coming??Hey there, Please support this idea with your likes and follow me here on TV if you don't want to miss out! Bitcoin recently broke bearish after creating a fake out scenario, wicking to 12,400. We now got a retest of a major support trendline in bear flag formation. Too many still want to buy this dip, which concerns me quite a bit. For now the target is between 10,700 and 10000, but if 10,000 is really reached, then I think this will only be very breafly and will create a huge bullish wick and a doji candlestick. For now I am short Bitcoin and Ethereum. Cheers, Konrad
BITMEX:BTCUSD.PShort
by EnlightenedTrading