Pin Bar
The next BTC SHORT I am taking part in.Greetings guys. It's time to spread my BTC market vision.
First of all my ideas are based on VSA which stays for Volume Spread Analysis.
I have no doubt that Head and Shoulders will work out and we will reach the price of 5k-5.5k-6k.
But before that we should break through many resistance levels meaning that there are some retracements ahead we can try to earn on.
Okay. I see some volume powered sells in past connected with levels of 4080-4170, 4180-4240 and 4315-4395 meaning strong resistance levels.
There is also a 0.786 sells fibonacci level starting from 15 of October. This one is followed by one of the greatest manipulations "BINANCE TETHER SCAM".
There is also a global descending channel with a resistance of 4100-4150.
Collect shorts on 4100-4400 levels and take profits on 4100-3900 levels.
I will open my position after getting candle setup signal of pin bar powered by big volume.
Good luck you are all.
Trade Ideas Analysis: GBPUSD S&RThis is a support and resistance trade, if this candle close on a long shadow candle or better known as a pin-bar, I'm going in on an aggressive short as:
1. Is a Trend Trading Opportunity
2. Market got well resisted by trendline
3. Major Resistance as red line
I've a duo target for this trade, exact level share to my subscribers, check it out on our October 2018 results as we hit a record high of producing 2,333pips of net profit in a Single Month.
forex100academy.com
EurUsd End of Month Trap MoveCheck out 4h, dojis and then 4h bear engulfing closed middle of London
Break and retest of pivot point NY pre open and ran away during NY Friday and last day of month
* Trap false move pre session beginning NY *
* Trap traders long & run away quick short *
More important than pivot point is the psychology behind the banks trap move
Higher TF keeps everything clear
EURJPY - Biggest Yen short covering underwayCFTC data shows YEN bears were at extremes a few weeks back. They have started to unwind their positions and thus accelerating Yen's upside.
Nikkei225 which is in close inverse-correlation with YEN is tracking lower too.
We expect market participants to continue unwinding YEN shorts from over -$12bn short to -$7.5bn, which would transcend into a 2-3 handle move in EURJPY.
Euro bears are currently out in full force and have no reason of squaring positions.
IS A RELIEF RALLY IN THE CARDS FOR THE FTSE 100If you're anything like me, as a trader you likely have a traded instrument that is kind of favourite. For me it is the FOREXCOM:UKXGBP mainly on account of the fact that I cut my trading teeth on this index. So if indices are a part of your portfolio, this could be a profitable opportunity.
This index (like many others and the Equities they derive their value from) have been taken quite the beating of late. That said as we all know what goes down must invariably bounce... The million dollar question we all seek though is when and how high.
Looking at this index from the perspective of the Daily Charts, we have now come back to retest previous structure lows established prior to that massive rally that saw the index achieve all time highs.
As we have done so, six things have caught my attention:
1. The index has put in quite the pretty pinbar/hammer candle at structure support (look leeeeft, structure leaves some beautiful clues)
2. In the process of doing so, we can see some Bullish Divergence (Lower lows in price action, Higher Lows in Stochastic)
3. Depending on your rules for this pattern, we have just completed a weekly Bullish Bat Pattern
4. There is potential Bullish Divergence setting up on the Weekly Charts (though there is still room for confirmation)
5. We have a harmonic Equal Measured Move (E.M.M) to the Weekly Bat Pattern completion, though there is little in the way of confluence
6. Dropping down to the 4H Lower Time-frame, we have again, Bullish Divergence but this time coupled with a Double Bottom at the Daily Structure Support level, but more interestingly, holding above the Weekly Bull Bat Pattern completion level.
I would dare say that the stars may be aligning on this one for a short term relief rally for this index as we edge closer to the end of the year.
That all being said, I see the Daily Structure support level as a key decision point for this market so, I would be a tad conservative in my target estimates using the 38.2% and MAYBE the 61.8% retracements as potential profit taking levels, in anticipation of this market coming back to retest and possibly reassert bearish dominance at the lows.
Not withstanding, based off a Weekly pattern analysis, no matter how conservative the targets, this could still prove to be a nice earner if my prediction is correct and one can obtain a good entry reason with a decent reward to risk profile.
Good luck and stay disciplined and safe in your trades as we come to the end of the month and the years end if you are able to get involved in any decent trades.
Do you even...Pinbar?Can you figure out the differences in the three pinbars highlighted...bearing in mind that the shape, length, or colour of the pinbar does not matter in this case.
Pinbars occur in the market as a result of two scenarios:
1) When institutional traders place large positions in order to reverse what we call a "trend"
2) When institutional traders take profit off existing trades, this action reduces the "volume" within a candle...hence the wick.
Comment if you have questions about pin bars.