Price correction is likelyIn the previous charts, we talked about resistances and supports. The situation is still standing. Considering the Elliott waves situation, trading volume, and the market's trading structure, we will see downward price corrections. After that, acceptable price growth is likely, and we will keep you informed.
Marketstructure
📊 Market Structure: BOS VS CHOCH📊What is market structure?
Market structure is the levels that are created by the price of any currency as it moves up and down.
Price never moves in a single direction for too long. It always takes a few steps in one direction, then moves a few steps back, then a few more steps, then a few steps back.
Over time, these steps form distinct structures in the market: zones of consolidation, zones of support, zones of resistance, and zones where price impulses up and down.
Market structures that form in the past are often respected in the future, and analyzing previous market structure can form a basis for a trading plan.
BoS carries on in the same direction it was initially heading in where as a CHoCH can be viewed as the Markets turning point
🔷BOS - Break of structure forms in the direction of the trend creating continuation patterns.
Break of recent Lower Low when bearish or break of recent Higher High when bullish.
🔶CHOCH - Change of character form at the end of a trend. For example, if we see an uptrend in the market, characterized by higher highs and higher lows,
this means that the overall trend remains bullish. However, when a new high is formed and then impulsively broken to the downside,
this could signal that the bullish trend might be coming to an end, and that a possible choch transition may be happening.
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My idea trade on GBPJPYHey God bless guys this is my trade idea for GBPJPY and what i believe it may do like i said in the video if you see trade different keep your analyst don't change it to mine i can be wrong trust your mark ups!! i also talked about why its important to check the news before you trade and i also talked about on how to check for upcoming news God bless yall and i pray that this video helps!!
EURUSD Long/Bullish analysisLet's take a moment to revisit past event.
1. Eurusd has steadily been in an uptrend and we expect the trend to continue for atleast 3 months
2. Eurusd has been respecting the trend line. Furthermore, when the trendline broke and dip created,
on correction, price still held above the dip
So what can we deduce from the information above?
1. Short positions are temporary.
2. The trendline will hold most of the time.
3. We continue looking for buy catalysts especially along the trendlines and major support zones
GBPJPY I Potential short from resistanceWelcome back! Let me know your thoughts in the comments!
**GBPJPY Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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MARKET CONDITIONS Hello everyone!
We continue the series of training articles.
Today I want to touch on the topic of MARKET CONDITIONS .
Go.
What is the market like?
As you know, the market does not move only up or only down.
The price always makes fluctuations of a wave nature.
What does it mean?
BEARISH TREND
This trend is characterized by the fact that the price updates the previous lows, but cannot update the previous highs.
If you look at the monthly chart, such a movement may consist only of falling candles.
In fact, if you switch to a smaller timeframe, you can see corrective movements.
And this can be observed on all movements.
In a bearish trend, it is best to open short positions.
A good moment to open a position can be the end of the correction, which confirms that buyers are not able to update the maximum, which means that the downtrend is still strong.
RANGE
This period of the market is the most boring, because the price is not particularly moving anywhere.
In fact, there is an accumulation of large positions.
But boring does not mean that it is impossible to make money on it.
The simplest trading tactic under such conditions is to sell from the resistance level and buy from the support level.
Do not forget to put a stop loss, because sooner or later there will be a breakdown.
BULLISH TREND
This trend is characterized by an increase in price, an update of the highs and the inability to update the lows.
The fact that sellers cannot push the price below the previous minimums tells us that the strength is on the buyers' side.
It is best to open long positions and press the updates of the highs.
STRUCTURE
This structure or model: BEARISH TREND - RANGE - BULLISH TREND, will occur very often.
This is exactly how the trend is changing.
At first, the price is controlled by one star, it can be bears and then there will be a downtrend, it can be bulls and then there will be an uptrend.
At some point, the dominant force loses power over the price, and the opposite one gains momentum, at such moments the range begins.
There is a struggle going on here and whoever wins will rule the price.
Sometimes it also happens that after the range, the previous trend continues, which means that the opposing force did not have enough power to change the trend, be prepared for this.
CONCLUSIONS
Do not think that the trend will continue forever.
Do not believe that you know the future and the price will go exactly where you predicted.
Be objective and study the market.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
I did a payer for yall and i did a market breakdown in this video i wanted to share what the lord put in my heart to say at the beginning i know its going to bless you! but i shared what i see GBPJPY and USDCAD may do through out the week we just have to wait and see what happens I'm not calling no trade out this is what i see I'm still learning if your going to take the trade make sure you do your own mark up and i also shared what i wanted to do soon but its in God timing but again thank you guys for the support God bless!
BTCUSD weekly (14/01/2023)This time we bring back to the TradingView account a weekly analysis of Bitcoin.
In principle we are going to emphasize that the probability of the theoretical bottom of the bear market around 15K is increasingly tangible and growing. As long as events of high geopolitical risk or black swan events do not appear in the global economy.
In this analysis we take into account the structures formulated in the Dow theory, wave movements of 5 Elliott waves, the previous patterns formulated by the price of BTC and an addition for market funds with the Wyckoff structure.
Briefly developing the above concepts:
DOW: Structures of theoretical max and min (Shoulder-head-shoulder) (Triangulations) (MA moving averages)
ELLIOTT: (Waves of 5 movements A,B,C,D,E)
WYCKOFF: Structure of theoretical bear market end
The conclusions to be drawn from these structures are quite obvious,
It seems that the bitcoin price and the crypto market are close to the limits of the bear market if they have not already exceeded them. Starting or about to start a pre-Halving stage of around a year that we could consider as the new accumulation phase.
:
En esta ocasión traemos de vuelta a la cuenta de TradingView un análisis Semanal de Bitcoin.
En principio vamos a remarcar que la probabilidad del fondo teórico del mercado bajista entorno a los 15K cada vez es más tangible y creciente. Siempre y cuando en la economía global no aparezcan sucesos de alto riesgo geopolítico o eventos de cisne negro.
En este análisis tenemos en cuenta las estructuras formuladas en la teoría de Dow, movimientos ondulatorios de 5 ondas de Elliott, los patrones anteriores formulados por el precio de BTC y un añadido para fondos de mercado con la estructura de Wyckoff.
Desarrollando brevemente los conceptos anteriores:
DOW: Estructuras de máximos teóricos y mínimos teóricos (Hombro-cabeza-hombro) (Triangulaciones) (MA medias móviles)
ELLIOTT: (Ondas de 5 movimientos A,B,C,D,E)
WYCKOFF: Estructura de final teórico mercado bajista
Las conclusiones a sacar de estas estructuras son bastante obvias, parece que el precio de bitcoin y el criptomercado estan rozando los limites del mercado bajista si no los han superado ya. Iniciando o a punto de iniciar una etapa pre-Halving de alredeor de un año que podríamos considerar como la nueva fase de acumulación.
Is Ethereum going to dethrone the king!?This is the million dollar question.
This has been a topic thrown around from time to time. Will Ethereum pass Bitcoin, Blah Blah blah. This is the first time I feel there is any evidence towards it. Let's take a look, as do believe that this could happen either before the next bull run or during the next bull run.
Ethereum for the time is showing strength against Bitcoin in a bear market. We can clearly see it here in the Market caps of ETH and BTC as there is a clear divergence that has been made. ETH came close before in in 2018 at it's peak of the bull run. Ultimately in the bear market the gap of ETH market cap widened as it corrected much harder.
Even with this divergence the gap percentage in 2018 was smaller than now but ETH has never shown us divergence against bitcoin. ETH along with every other altcoin has shown weakness and has fallen off drastically against BTC in bear markets, so this divergence is strange to say the least.
What will it ultimately lead to? We don't know, but if it keeps up, it will eventually dethrone the king. It could just be signs of an alt-season that could be brewing. we don't know, time will tell us.
One thing is for sure, there have been a few first times in the last two years and this is just another for the list. The crypto market is changing and growing while showing some different dynamics in my opinion.
The indicator below shows ETH Volatility. The thing of importance is that the volatility has kept going up while the market cap of ETH has reversed course and has begun rising and showing strength while bitcoin's market cap fell more.
Another thing to note is that this divergence started before the FTX collapse but even after it amongst all the fear ETH has stayed the course and it actually confirmed this trend and strength because of it.
I have gone long with the chart as I do believe this trend will continue at least for the short to medium term.
Please let me know your opinion down below. Let's see what people are thinking on this subject.
Kind Regards
WeAreSat0shi
Stay Blessed!
EURUSD Analysis and Trade Execution
-What do we see here?
-Price has been consolidating on this box with no real intention of going up.
-However, technical indicators suggest that we are in an a bulls market as price is respecting the trendline drawn on the chart.
-For this, I would suggest that we use stop orders for the sake of protecting ourselves as shown in the diagram.
-Our stop loss is quite some pips below as i am factoring in the consolidation of price in the box and the buy stop above the consolidation box as i am anticipating a break out to the upside.
-Initially i had thought the previous bullish candle was a big shadow and a buy catalyst but on looking left there is a lot of price action and so opted to place stop orders instead.
What are your thoughts on the same?
Comment below your charts and ideas for brain storming. Regards.
USD/JPY: Lower High market structureUSD/JPY it's suppose to continue bearish, but it's appear that watching from now!!! We're in the formation of the upside movement that we can to contemplate that it's making LL = Lower low, then HH = Higher High, then Lower high recently. And also, this could to get me an clue that USD look bullish in this formation that Dollar make.
It's better analyzing how the par behaviour!!!
This it's the H4 panoramic there!!!
And also, it's unlike that Dollar going bearish in this way as we form a bearish channel ,but we're in the key support here that I mark in the blue arrow.
So guys, I change to long in USD/JPY now. It's time to change to short from long in this market structure explained.
I put in long now in $132.47 JPY, Stop Loss n $132.01 JPY and take profit in $133.95 JPY.
Good luck in this long position
XAG Market Structure Breaking Down
The chart above shows a 12hr outlook of Silver (XAG). The light blue trend line shows the macro lower highs that are being printed and this line has been respected several times. The current price action is now in an area revisiting this downtrend. This does not mean a reversal is imminent but gives us an indication that this is where a reversal would occur if it's going to. Let's look at the chart below for a close look at recent price action.
We are now zoomed in to the 1hr price action and can see the more recent market structure shown by the yellow line. The price action squeezed between our larger blue downtrend and this yellow uptrend before finally hopping outside of the yellow trendline. The price breaking the yellow trendline does not mean that a reversal is confirmed, it's simply the first potential point for the bears. But immediately following that trend line break, the price action has created a lower low as well as a lower high, both of which are very good signs that the bears are beginning to take control.
Not financial advice but this is sufficient for entering a short for my trading strategy. The short position shown on chart is simply a guide, as this will be the beginning on a new trend. My strategy is not to take a blind take profit but to continue monitoring this until the bulls begin to take control again and only then do I close my position.