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BTC Respecting Our Support and Resistance Levels!As you can see from our previous post, BTC rejected from the top of our upwards channel on the 4h (combined with a sell signal from Wave Fusion) and bounced PERFECTLY off of our 200 EMA and horizontal support at $17,300. This was the level I mentioned in my last idea and it's good to see it come to fruition. Now I'm expecting Bitcoin to climb back to $17,640 and retest that resistance before a second visit to $17,300 for a possible double bottom. If we break $17,640, then $18,200 is our next target (top of the channel). If we break our support at $17,300 then $16,700 in the next major level of support. If you enjoyed my TA or had any questions about the indicators used, please leave a comment or send me a PM :)
Long
by CryptoScripts
2
Good Price Action Triangle in 1DTF! Trident.***The above is simple the price action formed in 1DTF. >The Supports are numerous... They are 5 good supports! >The Resistances are 4... The 4th resistance almost took the 3rd one indicates the bullishness in the trend! >The Trident is Textile stock which has the scope of showing the good numbers in coming Quarters due to Christmas is also a point to be considered. >The good accumulation is what I can see now, may be to give a good Break Out. >The the risk to reward is 2, do Swing Trade and trail the stoploss once the R:R is captured. ***Trade and comment if any doubts in analysis, Thanks!
NSE:TRIDENTLong
by AxionAjay
AUDJPY Potential Long PositionPlease give me some feedback and let me know what you think. Multi time frame Analysis 1D time frame price is trading in a range and reacted to the Supply Zone giving a Long Bias 4H time frame price breakout of Demand Zone giving a Long Bias 1H time frame price is signaling a Bearish Divergence (I am interoperating this as a corrective/retracement move) and reset at zone to give a Long Bias Setup and Entry Wait for price to retrace back to 0.50 - 0.168 Fib zone and bounce off 50EMA to go Long
Long
by Bruce1_1Wayne
3
GBPCAD weekly breakdownHello hello! After a bearish year for GBPCAD , it finally shifts on a weekly perspective, breaking the Moving Averages & EMAs finally crossed. For the past 3 weeks we saw a strong impulse on this pair, now waiting for a slow correction that can be followed by another strong impulse upwards. Moreover, the Commitment Of Traders data shows confluence on this analysis, GBP becoming stronger while CAD weakening. We now have to wait in order to see a correction, and only after that we can be looking for an entrance!
Long
by m_maia14
XAUUSD - daily bullish setupHello everyone! Gold seems to create another daily impulse on this uptrend, after retesting the EMAs and the previous resistance turned in support now. The price action is bullish on 4H and W as well, closing above the EMAs on all timeframes and retesting the previous resistance on 4H. Another confluence factor is the MACD indicator which also indicates a bullish move, so combining all the factors, we can expect the price to go up to at least 1801, which is the weekly resistance.
OANDA:XAUUSDLong
by m_maia14
$XAGUSD | Silver Turn Around?With the break and closed daily candle above the 200 EMA, XAGUSD (Silver) could be making a move to the upside with a Rally-Base-Rally and Drop-Base-Rally type motion (highlighted by the blue arrow trail), bouncing off Demand Zones. Previous movements (February 2022 & April 2022) off the 200 EMA have been to the upside tremendously as well as it aligning within the Demand Area. Nearest take profit would be around the $22.407 area and Stop Profit would be under the swing low of the current Demand Zone it is sitting in. But even with this confluence for a LONG BUY, proceed with caution as good ole’ Jerome Powell is set to speak tomorrow.
OANDA:XAGUSDLong
by CryptoHotep
$USDJPY | Potential 100 PIP Move To The DownsideHere we have the Yen reacting negatively to the CPI data just released and if you are shorting you may have nice opportunity here. As you can see from the blue lines, USDJPY has been on a downtrend consistently with lower highs from the top. In addition to that, it recently blast through a key DAILY demand zone along with a 200 EMA and closed underneath. Typical move in correlation with the down trend is more downside ahead with "effort" to the upside knocking on the swapped now demand-turned-supply zone but eventually being rejected. A safe landing would be the demand zone off of the 4hr.
Short
by CryptoHotep
2
RSI Formula Explained (updated) and a LIVE FAILED tradeThis is just an update to the RSI Formula since some of you are still having trouble with it. Its not as hard as it seems. Now with the oscillator scale reading ZERO at the mid line, there is no math to do. RSI Values as follows 0-9 = 1 to 2 rr 10-19 = 1 to 3 rr 21-29 = 1 to 4 rr 30-39 = 1 to 6 rr Dont worry too much about the last two. you want to be safer at trading with the first two. The last two are really designed for "Trailing your take Profit" If you have negative values on your RSI, thats fine. just do the trade in a SHORT and follow the same formula. Watch the video for the full breakdown
Education
by CoffeeshopCrypto
26
4hr GBPUSD Patterns in patternsAs you can see marked out on my charts, the yellow arrows show the top of a massive double-top structure. Both these structures have tested and could not break the 200ema(white line, red arrow) which acts as a very strong support\ resistance. The second leg of this double top is forming a head and shoulders at the 200ema resistance, and if you look closely, the head of the head and shoulder structure is actually a double top. If you go into smaller time frames you will also see these structures within structures. Its magic lol. Boost me if you like what I post. Dont be shy
Short
by faddy
$GBPUSD | Double Top-ish? The GBPUSD has had a wild ride in the past two weeks. Things are starting to normalize for the pound but here we have a simple 1:1 type of trade potential. We have GBPUSD breaking the upper Bollinger Band twice and not resistance at 1.14339 area. We also have over bought levels on the RSI in a micmic-ing double top like pattern. The only potential saving grace that could change this is the 200 EMA which is currently underneath. We have a couple of landing spots if all goes as planned at 1.133 and 1.125. The 1.13 line has not been respected since September and the latest support line is the latter. My trade is currently highlighted by short position graphic.
Short
by CryptoHotep
A little peek into how I catch sniper trades with zero drawdownSorry guys, I didn't post today, but caught a cracker gold sell. I would like to give a small insight to how I look for sniper trades, especially in London open. If you look at the 2 red arrows, you will see that during New York yesterday, price made a high of the day at the 200ema, which acts as a resistance/support, in this case it is a resistance for obvious reasons. The Asian session High came up to test this same zone, as seen on the second red arrow. Effectively making a double top in the higher time frame, that is the 1hr chart. Price then broke below the 200ema, as well as the 50ema(red) in the Asian/London changeover, when price broke below the 50 ema, that ema became resistance and not support, price came back up to retest that resistance as indicated with the yellow arrow. When the price could not break that ema, and instead ended with an engulfing going short, that was my perfect entry for the morning. 140pips have never been easier. Patience and confirmation are key. This is the simplest form of my strategy, there are obviously more components to how I trade, but this is the simplest and most fundamental way for catching great entries. Boost if you like what you see. Safe Trading P.S. GJ is Bae!!
OANDA:XAUUSDEducation
by faddy
$EURUSD | Quick 50-55 PIPSWith EURUSD breaking the lower Bollinger Band & at extreme oversold levels, there may be some relief upcoming for the EURO. Proceed with caution though as several U.S. financial events are happening this week, so I wouldn't advice this to be a long trade which is why my take profit is at the 50-55 PIP mark right below the 20 MA & 50 EMA as well as the most recent short term resistance point. Stop loss is below the lower Bollinger Band as well as the most recent support line. Potential short reversal to the upside here with that confirmation candle noted. The Euro reacts well to these quick set ups so here's hoping. 🤞🏽
Long
by CryptoHotep