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Marketstructure

S&P bears attack, bulls still holdLast week was marked by the aggressiveness of sellers and the resilience of buyers. On Monday Buyers were ideally positioned for another break out but they didn’t have enough steam to accomplish it. Sellers, long awaiting their opportunity, pushed the price down, breaking the weekly support. However, they couldn’t develop this into something more significant, as the bulls returned with a firm "no". The rest of the week continued in the same tug-of-war fashion. The most confusing days were Thursday and Friday. Thursday started very bullish but ended with a dramatic bearish turn. Friday, expected to be bearish, unfolded under the bulls' control. This was a story. Now, let’s now review all the signals more formally: Bearish Signals • Confirmed downtrend on the daily chart, indicated by a lower high and lower low. • Weekly consolidation has begun. Bullish Signals • The week closed right at the previous week's low after price shaped hourly higher low • Friday’s value zone is within the value zone of the previous four days. The context remains very bullish – price is in a strong weekly uptrend, last month closed very strong. Overall, it is a very ambiguous case with neither side having a clear advantage. Buyers are exhausted, yet not willing to capitulate. Bears are attempting to play their game but lack sufficient strength. The short-term outlook is neutral. From this position market can go in any direction. We need additional signs of one side gaining an upper hand. Until then, it is not advisable to place big bets on either side. Wednesday is a very important day, with both the release of inflation data and the FOMC meeting Disclaimer I don't give trading or investing advice, just sharing my thoughts.
AMEX:SPY
by hermes_trisme
2
The Wash and Rinse To See True Support/ResistanceTrue support and resistance is found in the meat of the move, not at the extreme highs and lows. To find it, Simply draw a zone or box and look for the place that price touches the most, and then pay attention to what happens afterward. In this lesson, I set up a trade plan and show how a Wash and Rinse structure at the pivot of a swing uses the most touches to find true support in a market. I then show how to identify it. The Wash and Rinse has a process that we can follow in real-time. 1. Multi-Pivot Line (MPL) 2. Zoom through the MPL 3. Come back and retest the MPL 4. Zoom back through the MPL the other way What happens in this process, is that buyers are holding some level. Price then busts that level triggering stops and at the same time encouraging shorts to enter. Then price rips back up essentially cleaning the book of orders and showing where the true support is (at least for the time being). Once you can recognize this structure, you can begin making your own observations and use these levels to read a market or begin to build a setup around it. The most important part is to learn to design a plan with objective rules around what you observe. Shane
NASDAQ:RCKTEducation
by ShaneBlankenship
2
#USDCAD rising wedge pattern breakoutIn case of bearish breakout of a rising wedge pattern base on technical analysis text book, we could expect more bearish move in price. Also we can see in the last bullish move price formed a bearish divergence. Also price managed to shift market structure to bearish in lower timeframe which add to the possibility of bearish move. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Short
by mohemati
1
#GBPNZD inverted head and shoulder patternAs evident from the chart, the price is not only currently trading towards higher prices within a rising channel line but has also established a valid breakout from a very long-term daily timeframe inverted head and shoulders pattern. This phenomenon suggests a high possibility of a bullish move in this currency pair, and we might witness much higher prices in the future. If this pattern materializes, based on the one-to-one price target projection, we can assume that the price will at least reach the previous top formed on August 21st, 2023, if not higher. However, I recommend waiting for a pullback towards the broken neckline before taking a position on this pair, or alternatively, look for the proper entry point in a lower timeframe based on your strategy. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Long
by mohemati
BTC is not an easy path for the most inexperienced!! "Bitcoin has depreciated by -12.37% since its peak on Thursday, March 14th, at 73.7K. BTC/USDT has fallen to the support level of 64.3K (25-period daily exponential moving average). From that level, buyers have defended the cryptocurrency against further declines, and it has recovered to the 69K level. At the time of writing this article, the flagship crypto is trading at 67.4K. If it closes above 69K, it could continue the bullish trend, aiming for the resistance at 73.7K and targeting the next level of 80K. Will central bank meetings impact BTC's price? The **Bank of Japan** is debating the possibility of ending its negative interest rate policy in its monthly monetary policy meeting. This comes after significant wage increases accompanying inflation. On the other hand, the **Federal Reserve** of the United States will keep its interest rates unchanged in its meeting this week, maintaining its benchmark rate at a 23-year high. Additionally, the **Bank of England** might pause rate hikes in its meeting this week, as August inflation data has been better than expected. In summary: - Bank of Japan: Possible end to negative rates. - Federal Reserve: Rates unchanged. - Bank of England: Possible pause in rate hikes. The daily technical analysis of BTC/USDT shows the MACD indicator with an ongoing red valley, which could lead to further declines for Bitcoin. However, if the 66.8K support level (0.786 Fibonacci) remains unbroken by the price, with a daily candle close above it, the price could experience a new pump toward new highs. The 25-period exponential moving average on the daily chart acted as support during the drop on Saturday, March 16th, providing relief to HOLDERS after less experienced crypto participants faced liquidation." "THIS IS NOT INVESTMENT ADVICE AND SHOULD NOT BE TAKEN AS SUCH. EACH INDIVIDUAL IS RESPONSIBLE FOR THEIR ACTIONS AS A TRADER, INVESTOR, ETC..."
Long
by CRYPTONIA5
GBPUSD: Exploring a Possible Sell OpportunityAt present, prices are at extreme premium levels, with a notable reaction from a premium m15 Order Block , in mitigating the Order Block we also filled the Liquidity Void left by yesterdays CPI News Release . A market structure shift (MSS) has occurred, suggesting a potential reversal as we aim to target the H4 Sell Stops, our Draw On Liquidity. Additionally, there's a possibility of capitalizing on the m15 Buy Stops , particularly as it aligns with the Asian High . Should the H1 Breaker Block fail, I will consider selling against the m15 Buy Stops upon confirmation. Kind Regards, The_Architect
Short
by The_Archi-tect
4