Multitimeframeanalysis
NATGAS/USD Daily Timeframe Price action AnalysisOANDA:NATGASUSD
Hello Traders,
Here is my Daily timeframe price action analysis.
After reaching a 12 year high in October 2021 of 6.409 , the price trended downwards to the current yearly low and key level of 3.6 , which was respected multiple times throughout 2021.
We see a turn around in the daily trend at the key level of 3.6 and have been trending upwards since.
Please note the key level from 4.65 to 4.75 , which again, was respected multiple times in 2021, currently the price is vibrating around this level and has been doing so since 16th Feb 2022.
4 hourly timeframe analysis alongside potential position entries to follow this evening. Please leave a comment and let me know what you like/dislike or agree/disagree with.
Litecoin will copy 2018-2020's cycleHey guys.
As you can see on the Litecoin charts in the past, a noticeable ABC correction wave is visible. If we take the similarity ratios of 1.375:1 (490D & 357D) and apply it to the current cycle, we can determine the next local top. 70 Days * 1.37 = 96 Days from the C bottom correction wave. These numbers are from the May-July correction, based on the 2018-202 cycle, we can mirror that and possibly find a top. Expect in June for Litecoin to hit around $300-400.
Safe Trading,
-Pulkanator
ETHUSD Pitchfork Projection and Prediction March - AprilAnchored at A: 24 Jan, B: 10 Feb and C: 24 Feb's pivots.
After forming a double bottom at point C, 28 Feb's bullish engulfing closed above the median line, so I marked the 50% level between point B + C to mark the validity level of my trading idea.
I am anticipating a push into the 3.4k area mid march before seeing a minor retracement back down to around 3k where the 23.6% Fibonacci level is sitting.
A bullish daily close above 3k, and a break of the lower pitchfork's upper median line would initiate a bull run into the next strong resistance which I have identified at around 4k.
The fixed market profile tool shows me that there is a lot of volume at this area and the cross between the projected pitchfork's median line and this level creates an interesting zone of price which I predict to be reached any time from late March to early April.
I have attached a link to today's intraday chart with a 60 period SMMA where an ascending triangle is forming.
If this chart pattern is confirmed and we stay above this average, it will initiate my trading idea until we close/crash below the 50% Fibonacci level I have marked.