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Momentumstrategy

Is there an Ocean Floor? 🌊 EurUsdWe have Seen 2 Colossal moves on EU in the last Day. Yesterday was tremendous buys to begin the week as Every Session saw a bullish push up to HTF Levels and Extreme prices around 1.105. For Breakout Traders we saw a Trap near Weekly Highs at Weekly Level 1.1056. Why would you place buys up there without a Daily candle close confirmation above 1.1045 Daily level IDK to be honest. Yet it was still brutal for buyers as price dropped back to more attractive prices. I was one of the buyers but I flipped my bias bearish as mentioned in Yesterday's publishing. I stated that " For better buys one of the previous 1Hr Zones at 1.1045 or 1.1027 or if we pull back harder.. maybe we'll consider more short term downside because it is quite early in the week " . So based off this I let go of my Ego and began taking sells and it went well. Moral of the story.. follow your trading plan and utitlize tight risk management. Taking a step away from the computer and going AFK can help with psychology enormously. The brain is able to do a reset and when you return, it's in a more optimal state. With that said More Analysis : Looking for a pullback to 1.098 4Hr Zone for Asian and continuation of momentum to the downside. Observing the potential Daily Candle bearish engulfing and hard push to upside early in the week on Mondya, I like more opportunities to the downside. Weekly target is looking like 1.086 which would be a break and retest on the Weekly timeframe. 1.086 being a weekly Level. For buys I would like to see support at 1.0953, maybe consolidate and move up from there.
Short
by ShrewdCatfx
Matic 🛤️ Break + Retest 1.0069?Looks Like we can continue the Bearish momentum here back down to yesterday's low at .9792 and beyond to our next daily level at .9755. Matic Polygon did a faekout yesterday above 1.0227. It returned back into the range, then to the bottom of the range then did a break and retest of the daily level on the 30m TF. Left a very large wick rejection and off we go onto the next zone at .9755. We have bounced but I can observe a retest of the low with momntum left over from earlier.
COINBASE:MATICUSDShort
by ShrewdCatfx
Correction Imminent for Liquidity? 🏔️ Eur/UsdLooking for a Correction because price is going straight up. The New 4Hr Candle may be the catalyst for an Asian Session Pullback before the 2nd London Session of the week kicks off. As we approach London Session we will see more volume arrive and anticipating potential corrective structure. The RR is worth a short although you should never walk in front of a train unless you have confluences and a good RR Idea. Anticipating corrective structure during this session and London Session. For Buyers maybe a retest of Broken Weekly Level 1.1058 for more aggressive buys. For better buys one of the previous 1Hr Zones at 1.1045 or 1.1027 or if we pull back harder.. maybe we'll consider more short term downside because it is quite early in the week. 1.1075 Weekly wick Fill from 2nd Week April is likely considering we just had a strong Daily candle close (at) 1.1045 Daily level. We closed below our Weekly Level at 1.1058. So no most optimal buy scenario for continuation here but we'll see. More Analysis: Taking Buys today throughout NY Session was straight forward as we had the NY 4Hr candle close above 1.102. This gave me confidence to take buys throughout the session. Although we had a tough time at first, we kept trading and my system ended the first trading day of the week on a positive note ( No pun intended ). Sometimes my entries are a bit sloppy as I can be quite impatient. This is why I am a Scalper however as it is more suiting towards my persnaility anbd trading style. However, Risk Management is especially significant with a scalping strategy as although wins come faster same do cost's of business.
Short
by ShrewdCatfx
Eth 1850 Hold or Back to Prev Daily Lows 1824 ⚔️Never Sell into Support! We can observe due to candle closures that we may return to previous day's lows at 1842 and ultimately 1824. The 8Hr and the 4Hr timeframes have just closed bearish after some rather large engulfing candles have printed on the Daily TF's and the weekly candle is closing in 7 hours. We may drop further on the Daily to somewhere around 1809 but we must see volume and maybe a break and retest below 1850 on the 30m TF if we can get that far. Selling into to support can be hazardous. Price may respect 1850 and continue to range. Always maintain a good risk/reward. At least 3:1 R walking into the trade. Also the RR changes throughout a trade.
COINBASE:ETHUSDShort
by ShrewdCatfx
GANX Biotechnology Penny Stock Uptrending LONGGANX had been in a tight consolidation channel prior to April 12th. This is the uncommon high tight flag pattern. Once breaking out, the typical guidance is the next leg up will be at least the distance of the flagpole portion of the pattern. On April 12th, a new chief financial officer was appointed to Gain Therapeutics. ( see the link below ) This is part of the push to generate earnings while still developing a pipeline and potentially the first profitable FDA-approved product. Another view is the company is trying to clean up its balance sheet and make itself into a takeover target. One way or another I will not argue with a potential path to shift the fundamentals nor with the high tight flag pattern breakout. The last session of the week had a massive wide- ranging engulfing green candle. I will look for more of the same. The final target is $6.15 as the top of the wick of that candle while the first target is $5.80 being the top of the upper VWAP band.
NASDAQ:GANXLong
by AwesomeAvani
Fomo Buyers + News Correction of Unemployment & PPI Data 🎢You may observe rejection of 1.1057 Weekly Level as mentioned in prev post. Very good sell opportunities as we rejected the weekly level and Fomo buyers were caught off guard. The American consumer is struggling and can be observed by retail sales data. We had a 7am Continuation when consumer sentiment was released , acting as a catalyst to continue momentum of the already established direction as we rejected 1.1057 weekly level as big buyers TP above 1.103 extreme prices. We would prefer to See the Daily candle to close below 1.0988 for Sells to continue. For Buyers we maintain an overall bullish trend if we hold above 1.0988. We do see some very large engulfing candles on the 4Hr on EU here. That is why I'm looking for some sort of continuation to the lows as we walk into the weekend and the open on Sunday. I think DXY bulls are on to something here but it is CPI week and the weekly candle is closing bullish. I would like to be proven wrong early in week next week like Sunday/Monday for more buys back up to 1.1057 and higher.
Short
by ShrewdCatfx
2
Ethereum Holds 2,088 Daily LevelPin Bar 1Hr Candle closed above 2,088 after retesting Yesterday's daily Low at 2,074. Daily Candle closed above 2,088 Daily Level. For these reasons I can see a bounce back to the highs at 2,104 and 2,118. I posted about BTC a few hours ago and have changed my bias here based off candle closures. I can see alot of players getting excited due to clean traffic to the left on BTC and ETH. The clean candles that may take us back up to 2,161 and 2,340 Daily Levels. Crypto Momentum could be ruthless with low volume and sustained optimism early next week in the stock market.
COINBASE:ETHUSDLong
by ShrewdCatfx
Up during Asian. Retrace during London? 🗞️We have creased yesterday's daily high at 1.10678. There is liquidity above this high. Especially since we have run up so far and therefore probabilities suggest we will pullback for liquidity for London Open. If we go up , then we will fly because there is clean traffic to the left. The 4hr is quite clean up to 1.1158. The 1Hr is clean up to 1.1125. Either way we must be prepared. I like pullback to clear out fomo buyers above yesterday's daily high back to 1.1057 for liquidity. Price has gone up so far and has exceeded our weekly target at 1.103. The market is oftern irrational and can be so longer than we as traders can stay solvent. Safe trading.
Short
by ShrewdCatfx
Will we see a News Correction? 🙊 Inflation Data EU has been moving quite violently and was expected with inflation data. We took advantage of the momentum and took 4 buys as price left the 1.0922 key level. We originally took Sells from this level which played out nicely. However, just as we did last week, Price dips hard early in week. Then soars as the week progresses using news as a catalyst for a continuation of momentum. With new 4hr candle here, we may anticpate a top wick on the next 4hr candle. We may stretch to 1.103 daily/weekly wick fill today or tomorrow. That's short term target with this momentum. Most of the time the news corrects but also the market is very sensitive to cpi data . especially in recent months for obvious reasons. More Analysis: It is a good for bulls that the 4hr candle is closing above our daily Level at 1.09885. We also have clean traffic to the left hand side on the 4hr for bulls. For Bears we have the argument that we already have significant engulfing daily bullish candle. Additionally , fomo after some missed the entry from 1.0922 pre-news. Also 1.10 is a psycholigcal level for bulls and bears. So we may see some profit taking before heading any more north to Weekly wickfill at 1.103
Long
by ShrewdCatfx
2
📰 Bloody Momentum after the NFP Fakeout @ 1.0918We didn't do much waiting around to begin the week. We dropped a large sum and closed quite the large engulfing candle on the 4Hr Timeframe. Yes, In this instance I am aware that we have arrived at a Daily zone 1.08445. However We spent a good chunk of time collecting orders around 1.093. Jumping above and back below. We had NFP data released recently and now we are trading the momentum move that comes along with it. Momentum is a fierce blade, sharp enough to pierce the torso of a mammoth. But it's also possible that just as we did last week, price dropped a ball to begin the week. Then pulled it's pants up and soared upwards. Positive sentiment in stock market etc. The Near term prices I like are listed as 1.08445. If we bounce hard off daily level we are headed back to weekly level at 1.0868. That would be where I would give up bearish bias 1.0868. More Analysis: Last week I was looking for a retest of 1.0868 but we got it this week and actually went to do a deeper pullback to 1.083 It looks like. A lag but not too much of a lag for this short term analysis. I can be profitable with a lag because just wait until the next sessions and manage risk tight to protect profits when it is necessary.
Short
by ShrewdCatfx
NFP March 7th, 2023'In yesterdays publishing you can observe that our short term target was at 1.0938. Some buyers are taking profit as we have reached this minor zone 1Hr level. The bullish 4hr candle closed above 1.0918 which has been our Fakeout sell side entry area. This is bullish technically speaking. Looking at market structure it looks great. So we had a fakeout market strcutre display, but now look where the 4hr candle closed. EU being tricky. In larger context, I don't like buys as much at these prices. I like retests of 1.0867 to end the week off with NFP tomorrow. Price is consolidating near the Daily/Weekly highs and playing games. If we go Long, I like Bulls respecting 1.0918 , possibly wicking back down again to 1.089 and then rocket to mars at 1.103, Weekly timeframe wick fill. Trading : Fortunately, I did trade and anticipate sells off this level after news was released this morning. Price wicked up violently triggering my buy stop. In profit for two seconds then hit SL. Only half risk here. Consequently, I took sells after we whipped back down and created a low to go fill in momentum. I scaled in with full size effectively and picked up 7.3 pips in 6 minutes. I took one more sell for +2 pips with higher risk which worked out well. Took 1 more trade with half risk and closed for small loss. Called the day there.
Short
by ShrewdCatfx
Moving into Weekend 🏖️ Weekly Candle Pulling back As mentioned in yesterdays publishing, we were anticipating dollar strength moving into NFP. The market structure was a bit awkward moving into NFP with price consolidating testing to see if it could hold 1.0918 as support. We punched through back to 1.089 with NFP data. Took advantage of these intuitions for the better then consequently ran into risk management issues. Nonetheless we have seen great sell opportunities these past 2 days to end the week and I'm not surprised. Moving into the weekend I think the weekly candle can cointinue to pullback and potentially gap down as we open next week. I've been talking about 1.0918 frequently as it will act as our Fakeout level on 4Hr Timeframe if we are right. If we are wrong, will range and ultimately like the bulls to do a solid break and retest above and beyond 1.0918. Have a good weekend.
Short
by ShrewdCatfx
Here come the Bears ? 🐺Per Analysis of yesterday I warned about buying at the higher prices. After we have a spike and people bag up, we have some hold the bag. Price nearly stretched the whole range up to 1.098 Daily Zone. Price just couldn't quite make it. Completely Missed this news correction move - was away from computer and totally didn't see it anyways. I did know it was likely we would have selling pressure after news like I have studied in the past (check bias from yesterdays' post). Another News Correction in the books, and another piece of art to learn from. This news correction contained 2 red folders to complete the campaign. More Analysis : It was very possible to jump on the train for sells after the 7am PST 1Hr News Candle closed bearish underneath our 1h/4hr zone. We consequently came up for a retest at 1.0918 4hr zone . We have the Daily cnadle closing Bearish , nearly completely retracing yesterdays candle. We would like to see the daily candle to at least close above 1.0904 so bulls at least have a reason to hold. 1.089 4hr level appears to be holding steady for the time being. For Bears we would like to see the 4hr chart do a fakeout and respect 1.0918 4hr level. However I can still see weekly target for bulls. We do have clean traffic on 1Hr chart up to 1.0957. NFP holds more weight here for me at least
Long
by ShrewdCatfx
7
EU Entered HyperSpace ⛩️ News --> the Catalyst We have entered HyperSpace and are now transcending into the stars. We are ahead of schedule as our weekly target remains as 1.103. Weare in the middle of a range between 1.093 and 1.098. If I was swing I would like break and retest of 1.093. But I'm not swing. Volume comes into the market in disproportionate balances at specific times and this is why I enjoy scalping and stick to it. Stick to what works based off your personality. Aiming for 1.103 which would be a monthly wickfill. Be cautious for buys at these prices. Price must setup exactly how your plan and parameters permit. More Analysis : Took multiple buys and majority played out for a good RiskReward. I set a sellstop as the news popped off and earned 13 pips in 1 second. Consequently I placed 2 more proftile trades as we had determined direction and saw good momentum shortly after the news release. We have clean candles to the left on 1/4hr TF's from 1.093 to 1.098 Daily Zone. That was very encouraging for bias.
Short
by ShrewdCatfx
Bounced off Daily Zone 1.07971 & Large Daily Wick is Bullish 🤷‍Value in Description ⬇️ Beware we have returned close to our extreme prices after an abrupt beginning to the week. Price fell into the abyss as optimistic buyers were a bit too early like myself. This NY session though we managed to grab a spot on the train. I was bearish walking into the week and was expecting a pullback to these prices. However , after that start to the week and observing how the daily candle may close with the large bottom wick, it gives me more confidence that we may blast through the extreme prices at 1.093. Our next target may be the previous monthly candle wick at 1.103 and which is also the next weekly Zone above where we are currently at (1.088) NFP on friday will be catalyst for large move here. Especially with this start to the week. We already have a large imbalance and it's obvious. More analysis : We have created a Lower Low on the 4Hr TF. NFP is setting up early in the week at extreme prices 1.093 area. Retesting, before we move back down to 1.079 and reject extreme prices at a Monthly and weekly S/R level at 1.09.
Long
by ShrewdCatfx
2
Dollar Buys but after a pullback early in Week? ⛺Welcome April. Last month we ended with the monthly candle and the weekly candle pulling back and created a larger top wick. However, the Monthly candle looks awfully bullish as it closed as a solid bullish candle. That being said, it did close within our Daily range and the weekly candle closed below the weekly zone to the left at 1.08690. We also had a bearish engulfing candle close on the Daily timeframe, Which i'm not surprised by. We tapped into extreme prices at 1.093 as mentioned in previous publishing's. Anyways, anticpating pullback back to 1.0853.
Long
by ShrewdCatfx
Opportunity to jump on the Train or get ready for Sell side? 🕛We have corrected the GDP volatility and continuation at 530PST. However, We have pulled back to a 1Hr/4Hr zone at 1.0895 and this woulnd't be a bad place to jump on the bullish train. I'm just watching for the rest of the day. I jumped off the train already with Buys. With all this said, we have increased 145 pips on the week. Wouldn't be surprised if Price drops from these prices tbh back to 1.0854 Daily Zone. We'll see what happens as we move into CPI data tomorrow. Safe trading. Not Financial Advice. Just education.
Short
by ShrewdCatfx
London Close Volume up to Daily Zone at 1.0854 or Range? The 4Hr candle closed above 1.083 4Hr Zone which is quite bullish for me. However we must consider that we have seen some volatile rejection near NY Open around 3-4 Hours ago. It's about where candles close so that is why we will give more weight to the buy side. If We get to 1.0854, then I can see it being pretty straight forward for us to reach 1.089 as mentioned in previous posts. More Analysis: The first 1Hr cnadle of the new 4hr candle pulled back to 1.081 which we respected. The consumer confidence report was used as a catalyst for a continuation of bullish momentum. The 1Hr candle just closed above the other candles to the left at 4pm GMT time. Look on the 1Hr and 4hr and you will observe a free liquidity range for us to push up to 1.089. First we must observe the Daily level at 1.0854 and see if we will push further into it or plainly reject it, taking us back to 1.081.
Long
by ShrewdCatfx
Eurusd still more Upside after touching into 1.0854? 🚄1) We have managed to Respect and hold 1.081 during London Session. 2) 1Hr Zone at 1.08230 has also held strong. 3) The 4hr closed 3 hours ago directly at our daily level 1.0854. Actually, it closed slightly below whihc is Bearish Price doesn't have to move up anymore because we are at the resistance of the daily range after a move up this week of 110 pips this week. I still like the weekly target at 1.089 however as we move closer to CPI data . We'll see what happens We may attempt to fill previous weekly wick with momentum which would be price --> 1.093 CPI would be a catlasyt to reach this target
Long
by ShrewdCatfx