EURUSD BullishWow after a bearish week, we came to a very strong round number. I am looking at imbalances on the bullish side and even though we do have imbalances on the bearish side, I am very bullish due to the support level, round number and also imbalances. Though we have formed a support, we might test it.
Imbalance
EURGBP SHORT SETUPEURGBP: price was converging in a rising wedge towards the breaker block, after mitigating from this block we got a break of supporting wedge line and change of character to bearish side on local structure, overall trend is bearish. I expect this pair to continue as marked on the chart.
Ethereum Short AnalysisEthereum is bearish for the next couple of weeks until further notice. Price broke structure to the upside on the daily timeframe and is looking to drop heavily to $1200 area. On the weekly timeframe, banks did not yet mitigate their positions at the open price of the last bearish move down, before the up move that broke daily structure. Before ethereum continues the uptrend journey to new all time high prices, we're looking to take this short, all the way to $1200 and then getting into long positions at $1200. This is not financial advice.
⁉️ What is an Imbalance?‼️ Imbalances are also known as inefficiencies or FVG (Fair Value Gaps) these are periods in price action whereby means of lopsided order flow, which create porous wakes or gaps in fills. The market will slip to the only available trade levels as a result of thin liquidity and these voids in liquidity will be revisited at a later stage. The market will seek to fill in any missing gaps or missed levels on a trade. Impulse price swings are typically seen with this voids in liquidity. In simple terms imbalances are gaps in the market and the market will always seek in to close or fill those gaps.
GBPUSD Intraday BiasGBPUSD
Aug 10 1145H GMT+8
Bias is still Bearish. I expect Dollar index to go higer after US Core Inflation release 0830H EST.
4H Descending Channel is still intact
NY Session yesterday produced a 1H SZ (Supply Zone) and FVG (Fair Value GaP). I'm expecting London Session to fill the gap.
I expect London to take out Sellside Liquidity (Sell Stops) before the rally up the 1H FVG.
If the RR for a long setup is good, take it. Otherwise, wait for a better shorting opportunity at the 1H FVG/SZ. Target is an Longterm Lower Low.
US 100 SHORT Hey traders
in today session We're monitoring us100 for a selling opportunity from the imbalance zone.
Formation of clean bullish Wolfe Waves on BitcoinBullish Wolfe Waves appear on Bitcoin's 1 hour chart. This could be an indicator for short term reversal. Point 5 having a relative increase in trading volume makes me more confident in this setup.
I would be using the 1-hour Fair Value Gaps / Imbalances as areas to take some profits with my last target being the local high marked with a green line. Golden pocket doesn't look that significant as it was visited with a reaction prior but we might see another retracement there or from an area close below it if we decided to dive a bit deeper with point 5.
Bear in mind that FOMC is really close (pun intended!) and an interest hike might mess things up for those longing.
Trade safe.
Continuation or sell off? US30 - Higher timeframe outlook:
Price coming into weekly downtrend supply along with filling a nice imbalance, good potential zone for a reversal, however price could continue bullish all the way towards the D point of the crab filling these imbalances before closing back below the weekly structure, (As daily and 4H are both bullish).
If we fail to break the 1H/4H lows i'm going to look for buys towards that D point as Crypto/stocks have been super bullish this week too, and the rally could continue, however if we start failing highs/breaking structure i'll look for sells, will keep an eye on structure and market sentiment!
This crab is quite probable though, one of my favorite harmonics to trade for reliability especially the C/D leg for direction, but if this pattern completes without any major pullbacks it will be a more or less guaranteed big swing back down, so 100% get alarms on that D point zone! (Probably for next week if it completes so no rush there!)
Let me know your thoughts!
* Disclaimer **
These ideas I never trade until the end target with my initial lots, I focused on high probable entries with higher lots and use a specific partial taking strategy giving me a very high win rate and take most of my profits very early, I only leave a small % of my capital to run the entire trade. On the flip side im constantly monitoring LTF momentum and will close early if things change, these analysis's are for research purposes only.