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Priceactiontrader

Weekly Bearish Special Crab on BTCThe special crab on the weekly on BTC those that extends to the 1902 fib level discovered by Scott Carney ( my mentor). As we can see, this is the first time this pattern is completing so we expect a Type1 reaction to a minimum 382 fib level which is around 22k ish and a maximum 618 level around 15 ish. These markets have been overbought I believe it will continue to the up side if the market breaks above 34800 it’s new ATH. Thank you. Please like ,follow and comment if you find this useful.
BITSTAMP:BTCUSDShort
by saliuokulu
NZDUSD Price ActionNZDUSD Is looking to fall this week following this recent price action. Price action is showing us price breaking out of a 3 touch structure, but what is important is how we broke out. This is important because price has broke out in the formation of an ascending channel. This current ascending channel it is currently in is crucial because it could be a prime example of how Price action fools typical support and resistance traders. The normal S/R flip would indicate a buy off of a retest of its previous high. Price action catches these traders on the wrong side of the market, and has the potential of having a huge bearish move this week to the bottom of its bigger structure. Best of Luck to my traders this week! Follow for more price action ideas :)
Short
by NavFx
GBPJPY READY TO FALLGBP/JPY is currently in an ascending channel nearing a double top. Anticipating price to make a third touch past the double top catching people on the wrong side of the market. Most Support & Resistance traders will see price pass its double top and will be ready to look for any Long positions off the retest. Waiting for price to slow down and consolidate near its third touch. Waiting for confirmation later this week with rejections and clean price action confirmations.
Short
by NavFx
EURUSD| GO LONG OR GO SHORTGood morning Traders, price action is proving resilient and is suggesting it may create a deeper channel, will it complete the channel and push out with a strong bearish close or will it just continue ascending upwards, is the main question I will be asking. In my view of price action, I see further upside because we still have some buying power within the markets, until we have a real sell off and push away, I have highlighted areas of interest but we just may continue in this corrective range. nonetheless I will be waiting for price action to confirm. let me know your thoughts.
by NK008
2
EURUSD| Outlook for the MorningGood morning Traders, I hope you have all had a good weekend, As I've been stating in my earlier ideas we are coming into the 1.1490 area, this will be an interesting level, given the buying power that is still within the market as price action is indicating, at this current moment. We could have price action that spills out as illustrated, If we do Id be looking at what price action is telling me at that given time, the key is always to focus on what price action is telling me in the interim as well as what the overall picture is and where price action has come from. let me know your thoughts, agree disagree or neutral. Thank you
by NK008
EURUSD| my thoughts on Friday?Evening Traders, this pair has been stuck in a bit of range for me, although it seems we still have plenty of buyers in the market, this being confirmed by the large bullish candles every time we have a sell off, Price action may potential pierce the top of the 1.14410 area before market close or potentially my do so during the Sunday market open. either way i will simply wait for confirmation from price action. couple scenarios for you all to consider: 1) seeing as we are now in the later part of the session on a Friday afternoon i imagine we wont get much in the way of any real momentum, as you can see i have ray line at the 1.1490 level which we are charging towards if we have corrective move up into this level with a rejection of this area potentially we may have interim short position, that is if price action confirms it. 2) we could have a bit of a spill out, price action pushes out to the side and potentially forms the start of a descending channel during next weeks session, this then potentially breaks to the upside potentially giving us some trade opportunities. let me know your thoughts, if you agree or disagree. Thank you.
by NK008
EURJPY| EARLY MORNING BUY OPPORTUNITY (That I did not take)Afternoon Trader, I will be honest and say this IS NOT a trade I managed to take, I simply just missed it. Ill talk you through my thoughts on why I would potentially take this as a trade, we had multi bullish candle closes from the 121.917 level all the way up to the highs of 122.501 level with a swift sell off, initially I was not interested as price action had pushed down too quickly for me showing we may potentially have some non tradable volatility and clear rejection of the most recent high level signalling very little momentum. However, over the course of the Asian session price action continued to form into a tight range/channel that then hit my key level of interest and my entry would have been triggered and impulsed away. but as stated I did not enter this trade but for the purposes of being fully transparent I thought It may help fellow traders. let me know your thoughts if you agree or disagree. Thank you.
by NK008
EURJPY: current analysisEvening Traders, a few potential scenarios on this particular pair: 1) potentially we are in a larger ascending channel structure highlighted with the dotted outer trend lines, if so I see price action going for another move up within structure, but it will be largely corrective and not the best trade-able move, if we do, ideally a high candle rejection with an immediate sell off at the top and a sell area as highlighted in the box, I will be waiting for price action to confirm the significant low at that point if we get there (the box is simply there for illustration purposes) 2) price action could potentially fall out the bottom and retrace all our gains from yesterdays trade, if so once again i will wait for the relevant low and set my order. 3) it could simply just push out of it current structure and then get itself caught in a range as illustrated and then push up. but I will employ patience and wait for the markets to reveal its direction and i will update if necessary, this is simply my opinion if anyone has any other thoughts let me know. Thank you.
by NK008