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Pivot

TRICKY USDJPY SHORT MIGHT BE A TRAP! TRADE WITH CONFIRMATION! Take a look at the above image of USDJPY daily TF chart. Its clearly visible that there many hurdles that USDJPY needs to clear before aiming low. In this case, the main chart that shows USDJPY 4H, shows that once the trendline breaks it will likely aim low. Due to this many traders might get trapped should they SHORT USDJPY once this trendline breaks. As a probable consequence, the price might likely start to reverse against their trade and head back up. A CONSERVATIVE AND PATIENT approach would be to look at the bigger picture and scan for any hurdles that might cause the price to limit its downmove. in this case, scanning the daily chart (have a look at the attached image up). On this chart there lies a Monthly pivot and just below it lies the daily EMA. these two factors have been proven to be a strong support. To trade this setup with confirmation would be to wait for the DAILY candle to pierce and close below D EMA and Monthly pivot. Once this happens a short trade can be taken on 4H charts depending on the weekly pivots. The target which would likely be tested would the area near 110.000 region. Shall there be any updates, i will post the entry requirements below
Short
by FX618Analysis
Retracement to 1.16500 required before SHORT entry! Target: 1.15EURUSD is currently in downtrend! However 1.15000 acts as a strong monthly support. So based on the monthly pivot points its best to wait for slight retracement to 1.165000 area for better risk to reward ratio. Monthly EMA was also pierced and candle closed below it, this further eliminates the hurdle of monthly support and opens the path to 1.15000 area. i shall update the trade criteria once and if the price retarces for a better 1:1 RR.
Short
by FX618Analysis
EURUSD might fall towards swing low if rejection occurs at 1.165This week might provide a slight correction from last's week aggressive down move in EURUSD. As the downmove happened last week, the monthly EMA was pierced and M candle closed below it. This indicates the path towards 1.1500 is well and truly open to be tested. Here we currently look at the 4H chart for this pair. a possible head and shoulders developing on 1H TF might result in a slight retracement towards 1.16500 level and 4H EMA. Shall the retracement be completed, it is advisable to look for rejection of the 4H EMA which can be confirmed by the TRENDLINE break. Shall the rejection take place, we can expect the price to target the swing low on 4H charts. However it also depends on where the weekly pivot points are present. Shall all the criteria meet, i will update the trade details here
Short
by FX618Analysis
GBPAUD 📉Decline to pivot points⚡As of today, ltrym has been trading sideways since July 27th. During this time, clear boundaries and control points of support were formed. Further price movement - when the sideways range is broken, I expect a descent to the pivot point and back into the range - a false exit. We are also now at the lower boundary of the local ascending channel. If we break it, then we go down to the border of the range and push off from it. The second idea has more chances of implementation, since the sideline is quite old, which means its boundaries are quite strong. Have a nice trade!
Short
by TradingAlchemist
3
Is another ALTSEASON happening?The Altcoin index forms a triangle inside an uptrend channel and two scenarios can be predicted for it: 1. Break the triangle up when AltSeason starts which I hope will happen. Of course, for this to happen, it has to go through a weekly pivot resistance. 2. Failure from the bottom that we should see a deep correction in Altcoins. The failure line is accompanied by a break of the uptrend channel and has the support of Komu cloud and weekly pivot and an MA200D, so I do not expect a quick price correction. Which do you think is more likely?
CRYPTOCAP:TOTAL2
by AmirAli4bdi
2
GBPUSD Let's Go On Yes After a Long Time I'm back And my First Analysis is going To Be on GBP God this currency Is Like an unControlable Hourse Let me Tell You a trick Which I Always Use in Hard Times and that's Using UK100 and USDCHF so the secret revealed and now I think you KNow how to use it but AlWAYS pay attention to News and consider Differences Between Stock And Currencies (for example in this case UK100 started upward trend sooner than GBP) Which I definitely Will Talk about it
Long
by MpRarssa
2
ETH, The decision is upon usHe had a wonderful couple of days in crypto world. If you look up to the 2Daily chart you see nothing but green and we are nearing danger-zone where pivot is seriously possible. Upon breaking through and retesting, this will obviously be a bullish sign which would need extra time and energy to double check some alts charts in relation to ETH, BTC.D and BTC/ETH. Upon rejection we are looking 2 highlighted areas for possible local pivots, but I lean towards retesting the lows (2k area). We will see how it develops. My bias is to the downside, and upon getting that scenario, we will have to be extremely patient to find new entry points for macro way up, which is ahead of us (in possibly not so short term future). FYI: 21 and 35 EMA in red and blue, 200 EMA yellow. Have a nice day folks.
BITSTAMP:ETHUSD
by eriboz
Cardano between two important levels. ADA/USD analysis.A strong upward move is expected on the Cardano chart. The reflection from the bottom trend line of the triangle really indicates the tendency for the price movement upwards. On the other hand, we are just below the strong price level, where we meet weekly Pivot point and daily Pivot point. This is not common and we definitely need to be careful. However, we will switch to a lower time frame and use our Price action strategy to find a suitable place to enter. We share all the details with our members and they will be the first to enter the market with us. We wish you a nice traing. Your UCT
by UltimateCryptoTrader
1
How to use Pivot points Indicators to our advantage!Hi every one A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. The pivot point itself is simply the average of the intraday high and low, and the closing price from the previous trading day. On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment. The pivot point is the basis for the indicator, but it also includes other support and resistance levels that are projected based on the pivot point calculation. All these levels help traders see where the price could experience support or resistance. Similarly, if the price moves through these levels it lets the trader know the price is trending in that direction A pivot point is an intraday technical indicator to identify trends and reversals commonly used in equities, commodities, and forex markets. Pivot points are calculated to determine levels in which the sentiment of the market could change from bullish to bearish, and vice-versa. Day traders calculate pivot points to determine levels of entry, stops, and profit-taking by trying to determine where the majority of other traders may be doing the same The pivot point indicator can be added to a chart, and the levels will automatically be calculated and shown. Here's how to calculate them yourself, keeping in mind that pivot points are predominantly used by day traders and are based on the high, low, and close from the prior trading day. If it is Wednesday morning, use the high, low, and close from Tuesday to create the pivot point levels for the Wednesday trading day. After the market closes, or before it opens the next day, find the day's high and low, and the close from the most recent previous trading day. Sum the high, low, and close and then divide by three. Mark this price on the chart as P. Once P is known, calculate S1, S2, R1, and R2. The high and low in these calculations are from the prior trading day. What Do Pivot Points Tell You? Pivot points are an intra-day indicator for trading futures, commodities, and stocks. Unlike moving averages or oscillators, they are static and remain at the same prices throughout the day. This means traders can use the levels to help plan out their trading in advance. For example, they know that, if the price falls below the pivot point, they will likely be shorting early in the session. If the price is above the pivot point, they will be buying. S1, S2, R1, and R2 can be used as target prices for such trades, as well as stop-loss levels. We hope that you've learn something with this post . Have a nice day and Good luck.
COINBASE:BTCUSDEducation
by CobraVanguard
7