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SOLUSD Price Action Range| Price Discovery| Volume| FibonacciEvening Traders, SOLUSD’s immediate price action is trading above its range, maintaining these regions will likely continue the trend, Points to consider, - Price Action Impulsive - Price Discovery - Blue Sky Breakout - Declining Volume SOLUSD’s immediate price action is leaving a consolidation phase where bullish continuation is probable. The price discovery has technical Fibonacci targets situated at the 1.618 extension, temporary top here is likely to be placed. The current volume profile is below average, an influx is highly imminent when an expansion occurs. Overall, in my opinion, SOLUSD is a valid long with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps. Thank you for following my work And remember, “Fear, inherently, is not meant to limit you. Fear is the brain’s way of saying that there is something important for you to overcome.” ― Yvan Byeajee
BINANCE:SOLUSDLong
by AzizKhanZamani
2
ETBHUSDT PA Range| Broadening Wedge| Swing High| Trend Evening traders, Today’s analysis – ETHUSDT – trading in a range where a rotation to either side is probable, Points to consider, - Price Action Impulsive - Range Mid Support - VWAP S/R Support - Low Volume ETHUSDT’s immediate price action is impulsive and is treading in a broadening wedge where a breakout is probable, allowing for a bullish bias. The VWAP is current support, holding this level is deemend bullish as it is in confluence with the Range-Mid. The current volume profile is below average, an influx is highly probable when an expansion occurs. Overall, in my opinion, ETHUSDT is a valid long with defined risk; price action is to be used upon discretion/ management Hope this analysis helps! Thank you for following my work And remember, “It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you‘re wrong.” -George Soros
Long
by AzizKhanZamani
2
LTCUSDT Daily Range| Price Action| Trend| Volume Evening Traders, Today’s analysis – LTCUSDT – trading in a high timeframe range where a rotation to the range mid is probable, Points to consider, - Price Action Impulsive - Bullish OB Support (Range –Mid Confluence) - Daily S/R Objective - Low Volume LTCUSDT’s immediate price action is impulsive where a correction to the range-mid will allow for a long entry. The Bullish OB Support is in confluence with the Range-Mid S/R, a retest of this level is like to be respected. The current volume profile is below average, an influx is highly imminent when testing a key trade location. The overall objective is the Daily S/R, exceeding that level will lead to a trend continuation. Overall, in my opinion, LTCUSDT is a valid long with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps Thank you for following my work And remember, “Ultimately, consistent profitability comes down to choosing between the discomforts you feel when you follow your plan and the urge to let yourself be captures ( and ruled) by your emotions.” ― Yvan Byeajee
Long
by AzizKhanZamani
4
Will USDJPY Consolidate This Week? 112.00 A Likely DestinationThis week we might witness USDJPY move up and down as many central banks announce their policies and NFP reading as well. The 115.000 strong monthly resistance is yet to be tested by this pair! Its surprising with such a powerful strong uptrend it was not able to test this level. However this week shall the descending channel break, we can see the pair climb and come near that level. Positive RSI divergence on 4H indicates that an upmove might be on the horizon. However as traders, we look for confirmation. In this case, we need the higher high on 4H chart to break (4H candle must close above it), then evaluate our entry points for a LONG trade based on the RISK TO REWARD (RR) ratio. Our potential take profit target in this case would NOT be 115.00 level! infact its ideal if we target the next HIGHER HIGH on the 4H chart as our target. It all depends on the RR as 1:1 is an ideal target Shall the above scenario finish taking place or if it does not take place at all, we can look to take this pair SHORT. Again not without confirmation!. We need the 4H candle to close below 113.00 and to target 112.00. Once the break takes place, the RR needs to be evaluated, if feasible a short entry could be taken. All in all its a two way scenario for USDJPY this week. Meaning it will either rise towards 115.00 then aim to hit 112.00 or it will just keep its descend towards 112.00 level For those of you who want to take this pair beyond 115.00, its a very risky move for the following reasons: 1. The pair is too overstretched and a consolidation move might likely take place. many traders based on fundamental market picture would prefer to enter LONG once the price retraces at around 112.500 to 112.00 level. 2. Look at the first point: see the word FUNDAMENTAL MARKET PICTURE? yes its based on purely fundamental analysis of the markets. as for us technical traders, confirmation is the key. in this case we need to wait monthly candle close above 115.000 then evaluate to go LONG based again on RR The month of November would likely be interesting for USDJPY. Based on the fundamental picture its likely 115.000 would be broken this month as inflation and RISK OFF mood drives the markets. THIS JUST REPRESENTS MY ANALYSIS ON THE OUTLOOK OF THIS PAIR. TRADE SIGNAL WOULD BE POSTED IN A NEW POSTVSHALL ALL THE CRITERIA BE SATISFIED
Short
by FX618Analysis