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Globalchartsurfers

EUR USD Pair Greetings Traders, The EU pair has been steadfastly rejecting the weekly OB (Order Block) for several days now. There's a potential for a bullish pullback, aiming for higher levels to clear out existing liquidity. This trend appears mirrored in the DXY (US Dollar Index), with both pairs exhibiting a high correlation. However, it's worth noting that during holiday months, when major institutions are on break, these pairs can display confusing movements, leading to liquidations at both highs and lows. Navigating these fluctuations without order flow software can pose challenges, but with the right money management rules in place, it remains manageable. To address the complexities, we've adjusted our stop losses to be more substantial while seizing profits more rapidly. Given the holiday month dynamics, it's crucial to approach the market with care and diligence. Wishing you successful trading during this holiday period, Global Chart Surfers
Long
by themarketknight
ETH USD PairHello Traders, Bitcoin has successfully reached all our specified targets, and the EthUsd pair has achieved maximum profit levels, as accurately predicted months ago. Now, the next likely scenario is either acceptance within the current range with a subsequent bearish pullback, providing an opportunity for another upward movement from discounted levels. Our pitchfork range percentages have demonstrated oversold and overbought conditions exceptionally well, indicating the possibility of a downward move. Currently, we have initiated short positions, and the first take profit has been reached, allowing us to run the remaining position risk-free. It's crucial to secure your original investment as soon as you're in profit and let the risk-free capital ride. This approach makes it much easier to sleep at night and is a hallmark of professional traders. Always remember to pay yourself by withdrawing your initial investment when you are in profit, safeguarding your hard-earned money. Whether we experience acceptance into the range or not, this strategy minimizes potential losses and maximizes the benefits of your trades. Wishing you successful trading, Global Chart Surfers
COINBASE:ETHUSDShort
by themarketknight
EUR USD IdeaEU pair traders, it's crucial to consider taking some profits on your EU sell orders. The dollar has not broken the daily fractal, indicating another control level for the dollar that hasn't been reached yet. This suggests the potential for another bullish run on the EU. Exercise patience and ensure you pay yourself consistently. A good practice is to secure profits when the market presents the opportunity. Wishing you a restful weekend and successful trading ahead. Take care.
CAPITALCOM:DXY
by themarketknight
ETH USD IdeaETH/USD on Coinbase, we observed a distinctive three-leg downward movement last year on November 11th. The daily confirmations for each leg displayed a clear bullish bias, making it remarkably straightforward to trade, thanks to technical confluences and accurate price predictions We got Pitchfork Channel. Consistently respecting channel percentages, we've only encountered 11 stop losses across over 50 trades, involving both spot and scalp trading. The returns have been not just realistic but impressive in terms of ROI. Ethereum proves to be an exceptional asset, consistently providing profitable opportunities. Looking ahead, it's important to acknowledge that the same ease with which it gave us gains can result in retracements to retest previous lows. Despite the held structure, the market could easily revisit these levels. Presently, we find ourselves in a monthly bearish order block, leading us to explore bearish trades. However, we maintain long positions as hedges. This strategy ensures that, in the event our short positions prove incorrect, losses are mitigated through the gains from our long positions. It's a simple yet effective approach to navigate the market. Wishing you peace in your trading journey."
COINBASE:ETHUSDLong
by themarketknight
ETH USD IdeaI wanted to share some important levels in the ETH/USD pair that we're currently trading. It's crucial to note that Bitcoin (BTC) is currently in a deep supply zone, and as alts often follow BTC's trajectory, we might see a decline in altcoins as well if BTC starts declining. Keep a close eye on the ETH channel, and be mindful that we're navigating within a monthly bearish order block. This situation could turn quickly, leading to liquidation or other outcomes. In the attached image, we're aiming to close TP3 at 75% of resistance within the channel. We'll keep a small portion running, considering the probability that we might turn the range bullish. If the last portion is stopped, we're still in a significant profit overall. Wishing you successful and cautious trading!
COINBASE:ETHUSDLong
by themarketknight
EUR USD IdeaIt sounds like the EU pair presented a favorable opportunity, reaching up to the previous range's mega sell level, knocking them out, and now experiencing a heavy selloff. I hope you and your fellow traders followed the steps provided, engaging in both swings and scalps. A nice Christmas indeed if the charts have been cooperative. Looking forward to what 2024 will bring, it's crucial to stay positive and remember that successful trading requires patience. Invest time in allowing trades to come to you, rather than the other way around. It's a slow game, but patient investors tend to find success in navigating these charts. Wishing you continued success in your trading endeavors!
Short
by themarketknight
ETH USD IdeaGreetings, fellow traders! Quick weekend recap in the crypto space: It's been a relentless ride, with prices surging day in and day out, triggering stop losses higher and higher. We've secured our TP2 payout, and given the wild 80% rise, we're cautious not to get greedy. It's essential to pay ourselves after a robust move. Now, for Ethereum (ETH), we're considering two scenarios: 1. Continuing straight to tap into volume nodes, where there are most supply stop losses for market makers to exploit and pay themselves. 2. Seeing more sell orders with another retracement move before reaching the destination by the end of the year. The crypto market is dynamic, and it's crucial to keep a vigilant eye on your assets and move with the market. This is the only way to ensure you pay yourself in this game. We'll keep you posted if anything intriguing unfolds. Peace out and happy trading!
COINBASE:ETHUSDLong
by themarketknight
EUR USD Idea Greetings, fellow traders, investors, and enthusiasts! We've been patiently awaiting a short opportunity on EUR/USD for a week, and now we've identified target levels. While we've seen success with bullish trades, we're anticipating a break and downward movement, just as we discussed a month ago regarding this controlled price. However, the current scenario has EUR/USD and the dollar out of correlation, which isn't our favorite situation. It's the Christmas season, and markets can exhibit natural behavior during this time. Yet, it can be frustrating to stand around, watching 4-hour candles without making significant gains. Patience, as always, is the key in this game, and sometimes, scalping becomes the order of the day. For those of you who've had successful bullish trades, congratulations! Enjoy the profits, especially as the festive season approaches. Christmas is just around the corner, and we're planning to double down on scalps as much as possible. But hey, we recognize our addiction to charts might not be for everyone. Don't be like us, indeed! Wishing you all a successful trading season and a joyful upcoming holiday. May your charts be clear, and your profits be plentiful! Until next time, trade wisely.
Short
by themarketknight
ETH USD Idean a strategic move that has already yielded over 500% returns, our pitchfork range has proven to be remarkably effective. Recently, we shared our algorithmically-driven channel for Ethereum, a cryptocurrency that, when moving sideways, showcases an impressive accumulation of orders and unwavering respect for algorithmic levels. Currently positioned at the 50% level with a flip in volume, we've identified another entry point with minimal drawdown. For our followers, it's important to note that we're taking a 10% gain now at the first take profit level to secure profits and allowing the remaining position to soar higher. As the holiday season approaches, we wish you lucrative trading opportunities and encourage you to navigate the markets wisely for your benefit. Happy trading, and may the markets work in your favor!
BITSTAMP:ETHUSDLong
by themarketknight
BTC USD IdeaBitcoin recently experienced a double high, prompting a pullback that some analysts view not as a reversal but rather as a strategic move to create additional liquidity before a potential upward surge. This market development is being closely watched, with a notable weekly target still in play. We are eagerly anticipating whether this pullback will serve as a catalyst for a bullish resurgence. Stay tuned for the unfolding dynamics of this intriguing market scenario.
COINBASE:BTCUSDLong
by themarketknight
ETH USD IdeaGood morning, fellow traders! Ethereum continues its impressive surge, marking its fifth consecutive week of substantial gains. As we assess the weekly range, a crucial juncture unfolds: we find ourselves at the resistance threshold, teetering on the brink of the range's discount zone. The burning question looms—will the market embrace this level, or are we poised for a bullback followed by another rally? A cardinal principle guides our approach: refraining from entering trades after a five-week bullish streak. In the spirit of prudence, we advocate allowing the chart room to breathe, anticipating a deep bullback before considering re-entry and the potential for a renewed upward momentum. The question of retracement into 2024 remains on our radar. Central to our strategy is the meticulous use of VWAP (Volume Weighted Average Price) as a reliable indicator. The redline on the chart signifies this, and its historical accuracy in gauging volume dynamics is paramount. Notably, the chart manifests a compelling transformation where resistance volume seamlessly morphs into support, providing a discernible bullish bias. Presently, our trades navigate the terrain as strategic scalp entries, with spot longs approached judiciously through partial positions. The week's closure holds the key to our next moves, as we await the market's verdict before formulating new decisions. Wishing all traders a week of astute decisions and profitable outcomes. Stay tuned for the unfolding market narrative. Happy trading! 📊💹
COINBASE:ETHUSDLong
by themarketknight
ETH USD IdeaHello, traders! It's great that we've had ample time to dive into ETH/USD chart analysis lately, utilizing tools that haven't seen action in years. Volume and mathematics-based tools are proving to be priceless assets, and a big thanks to the creators behind them. Your journey through the 2022 bullish legs and the application of a simple pitchfork prediction for 2023, with precision down to the dollar at 2142.85 on Coinbase, showcases the technical prowess at play. The recognition of an oversold condition with a 75% retracement mirroring the first three legs, leading to a precise low at 1520.85, is a testament to the effectiveness of these algorithmic tools, especially when anchored to the right price in 1-minute precision. As you navigate the highs and potential range dynamics, your tip about embracing these tools in the crypto realm resonates. Crypto, being highly technically driven, often reveals its nuances through these intricate tools. Wishing you peace in your trading endeavors, and may the charts respect those highs once again. Happy trading, and until next time!
COINBASE:ETHUSDLong
by themarketknight
EUR USD IdeaHey folks in the trading world! So, the Dollar Index is being a bit of a rebel, not following the fundamentals we thought were a sure thing. But hey, that's the market for you—always keeping us on our toes. Right now, we're sitting on some hefty orders, and the vibe is pretty bullish below us. The chart's showing some funky volume imbalances, so it looks like we're in for filling those gaps with our orders. Here's the game plan: If yesterday's high gets smashed, we're looking to jump in on the smaller timeframes for a sweet swing trade. Let's see if the chart plays nice and gives us the retracements we're hoping for. Wishing everyone some killer trades this week! Keep an eye out for the twists and turns in the market saga. Cheers to a good week of trading! 📈💰
Long
by themarketknight
ETH USD IdeaHello, Crypto Warriors! Let's dive into the current Ethereum (ETH) chart. On the weekly chart, we're seeing a bullish range, but on the daily timeframe, there has been a bearish retracement. Given this context, the logical approach has been to consider going long at a 25% discount within the range area, with a stop positioned beneath the zero line. It's important to acknowledge that the odds are somewhat stacked against you as a trader in these conditions, primarily due to the passage of time and the percentage of the range that has already been traversed. That being said, it doesn't mean we can't envision higher price levels. What this chart represents is a case study centered around the strong resistance level at 2209. If this level is breached, we could be looking at two potential scenarios: either a liquidation run followed by a reversal or a continuation of the bullish trend. While we maintain a bullish outlook on cryptocurrencies, it's essential to recognize that there are multiple support levels below, and market makers may not be inclined to leave them untested. At the moment, our approach is to trade level to level, strategically assessing the market in this environment. If you find value in the levels we've mentioned, or if you'd like more detailed information, please don't hesitate to let us know. As you embark on your trading journey, we wish you a fantastic weekend and encourage you to find balance between your screen time and the world beyond. Remember, trading is a marathon, not a sprint. Enjoy the weekend and take a breather now and then!
COINBASE:ETHUSDLong
by themarketknight
Dollar Index IdeaGood morning, traders! Here's a quick update on the Dollar Index. It appears to be experiencing a substantial selloff, and indications point toward a repricing into lower liquidity levels. Interestingly, in contrast, we're observing rallies in other dollar pairs, including EUR/USD. We made an attempt to take a swing position lower in EUR/USD yesterday, but as we've seen, sometimes recognizing when a trade is moving against you is an art in itself. We promptly closed that trade with zero profit, demonstrating the importance of swift decision-making. This situation underscores the significance of monitoring correlation between currency pairs. Understanding these relationships can be instrumental in making informed trading choices. As for the Dollar Index, it's worth noting the presence of a single-print level at 104.897, often referred to as a "liquidity void" in modern trading vernacular. This is a particularly attractive target for algorithmic trading, and it will be intriguing to see how events unfold. Wishing you all a day of successful investing, dear traders.
CAPITALCOM:DXYShort
by themarketknight
EUR USD IdeaGreetings, fellow traders! It's an intriguing landscape in the world of forex, where the dollar seems to have locked itself in a strong consolidation phase. This appears to be driven by algorithmic movements, and over the past two months, we've witnessed price action oscillating within a tight volume range. Highs and lows have been established with minimal fluctuations in trading volume, making it a relatively smooth sail for range-bound traders. The 50% range line, acting as a pivotal point, has been a constant source of fascination as it continues to flip back and forth, emblematic of the algorithmic consolidation at play. While it's possible that we may see this consolidation persist throughout the end of the year, it's important to note that it's also been a fertile ground for those who have mastered the art of trading within this range. In essence, it's as if the markets have adopted a rhythm of their own, and for traders who are skilled at navigating this unique dance, there have been opportunities aplenty.
Short
by themarketknight
1
ETH USD Idea Greetings, Crypto Warriors! It's a prudent move to remain watchful during these times of Dollar consolidation. Larger cryptocurrencies may be contemplating a strategic move to clear out stop-loss orders at higher levels, followed by a potential push to catch late retail investments in the elevated regions. For Ethereum, this level is around 1750, but the extent of the move remains uncertain. Such a maneuver would align with a market maker's playbook, especially considering the substantial positions that are typically closed out at the end of the year. In this ever-evolving crypto landscape, it's wise to swim alongside the big players, those who understand the market dynamics and have the power to influence price action. These considerations are essential for traders and investors alike, and they shape the outlook as we navigate the crypto world.
COINBASE:ETHUSDShort
by themarketknight
EUR USD ideaGood day, traders! Yesterday, EUR/USD embarked on a substantial rally, affording us three lucrative scalp trades. However, the current price action appears to be retracing back into liquidity zones, potentially offering us opportunities to enter at discounted price levels. Our strategy entails patiently waiting for price levels that represent a considerable 75% discount. It's at these points that we'll be on the lookout for a potential market shift back towards a bullish trajectory. Collaboratively, we aim to stay ahead of the market's movements. The plan involves a methodical approach with a clear rationale – it's about building the necessary momentum and volume to support our trades. Only when all the elements align do we commit substantial capital to the move. This is our train of thought and our strategy, and we'll be keeping a close watch to see how it unfolds. Stay tuned as we navigate this journey together.
Long
by themarketknight
EUR USD IdeaGreetings, traders! It's important to note that we're still witnessing divergences between EUR/USD and the Dollar Index. This discrepancy should serve as a cautionary signal when considering trade ideas. Our focus is currently on the 105.9 level, which corresponds to the weekly point of control. We're keenly observing this level to see if it triggers a downward reaction in the market. However, the situation remains dynamic, and there's potential for further market developments that could take us even higher. In these uncertain times, our aim is to provide you with peace of mind as you navigate the markets. Keep a close eye on the unfolding situation, and have a great trading day!
Short
by themarketknight