5ADR - Average Range of Last 5 CandlesticksAverage Daily Range (ADR) Indicator for the Last 5 Days
This script calculates the Average Daily Range (ADR) for the last 5 trading days. It helps traders to understand the average movement in pips, providing insights into potential price movements.
How to Use:
Set Chart to Daily Timeframe : Ensure your chart is set to the daily timeframe.
Hover Over Previous Day : To see the ADR for today, hover your mouse over the previous trading day.
For example, if today is Tuesday, hover over Monday to see the ADR for Tuesday.
Read ADR in Blue : The ADR will be displayed on the left side of the chart in blue color.
Range
Bitcoin can make correction to support level and then bounce upHello traders, I want share with you my opinion about Bitcoin. Looking at the chart, we can see how the price a few moments ago entered to the range, where it some time traded near the resistance level, which coincided with the seller zone and then rebounded up to the top part of the range. After this movement, the price turned around and quickly declined to the 67600 level, and later broke it, thereby exiting from the range also and continuing to decline inside the downward channel. Inside the channel, the price fell until to the support level, which coincided with the buyer zone, and then made a fake breakout of this level, thereby exiting from the channel. After this, the price tried to grow, but soon turned around and fell back to the 60200 support level. But a not long time ago price turned around and started to grow, so, at the moment I think that BTC can make a correction to the support level again and then turn around and continue to grow. For this case, I set my TP at 65000 points. Please share this idea with your friends and click Boost 🚀
Gold can make small movement down and then continue to riseHello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price some time ago entered to upward channel and started to grow from the support level, which coincided with the buyer zone. Later price reached the resistance level, which coincided with the seller zone and broke it, after which it rose to the resistance line of the channel and then turned around. Then XAU made a downward impulse, thereby exiting from the channel and entering to range, where it some time traded and soon reached the 2385 level, which is the top part of the range also. After this, the price turned around and fell to the buyer zone, after which turned around and bounced up to 2368 points, but couldn't fixed and at once made a correction movement to the support level. A few moments ago price rebounded from this level and started to grow. So, in my opinion, the price can make a small movement down and then continue to move up. For this case, I set my TP near the resistance level of 2370 points. Please share this idea with your friends and click Boost 🚀
Euro can rebound from resistance level to 1.0670 support levelHello traders, I want share with you my opinion about Euro. By observing the chart, we can see that the price started to grow inside the upward channel, where it at once rebounded from the resistance line to the 1.0670 support level, after which it bounced and continued to grow. In a short time, the price rose to the 1.0800 resistance level, which coincided with the seller zone and soon broke this level and later reached the resistance line of the channel. After this, the Euro rebounded from this line and exited from the channel, starting to trades inside range. Inside the range, the price declined to the seller zone and even made a fake breakout of the 1.0800 resistance level, after which quickly rose to the top part of the range, turned around, and then made a strong downward impulse. Euro exited from the range, broke the 1.0800 level, and even formed the first gap, after which the price little declined and then bounced up to the resistance line. After this movement, the EUR started to decline and in a short time fell to the 1.0670 support level, which coincided with the buyer zone and some time tired to grow, but only third try it make an upward impulse and rose higher than the resistance line. At the moment, the price continues to move up, so, in my opinion, the Euro can reach a resistance level and then start to decline to the 1.0670 support level. For this case, I set my TP at this level. Please share this idea with your friends and click Boost 🚀
KOG - Trading the Range!RANGE BOX:
When the price is in a ranging market look for date of when the price was last in its range. Example above shows we had the range, a breakout above and then a break back inside the range. Draw a box around the range and then identify the buy area and the sell area. This stops you from trading in the middle of the range and getting chopped up by the market. Always wait for the lower levels to buy and the higher levels to sell. If either level breaks wait for the support or resistance to turn into support or resistance. This give you an indication of potential further movement in the direction of the breakout.
Within the range you will find trends, smaller support and resistance levels and chart patterns. This will further help you to trade within that range of scalp in between levels. Identifying these levels and patterns also give you a view of potential future movement. Again, this helps towards making sure you don’t get caught trading in the middle and getting caught the wrong of the market.
Now we’ve updated the range to present day and it gives us a clearer picture of what the market has been trying to do since October 2021. We can the H&S back in November which as yet hasn’t been tested, with patterns like this they don’t always get a retest but on most occasion the price will come back to test it. This tells us that if we break above the range high again there is potential for the price to test that 1860 at some point.
We can also see that there is a double top recently which caused the price to break back inside the range. Again, on most occasions its likely the price will want to test the pattern or neckline at some point. This gives us an indication of potential movement in the direction of the double top and if we break the double top (we fail a triple top) then there is a chance we could go further up based on support below to test the shoulder of the H&S from Oct. We then add our every day analysis, support and resistance levels and smaller timeframes to further confirm movement and potential challenges on different price regions.
If we now look at the bottom of the chart we have one significant area of interest. That’s the buy area we have been using to take the long trades within the range. We can see its given us a triple bottom in this region where we have seen rejection in price. This area has worked well for Bulls but now we will need to be cautious if the price comes down to challenge this area again. Based on what we mentioned above with patterns its likely the price will want to come down to test this level again at some point. Keeping that in mind we also have to be cautious here as the level has been rejected 3 times forming the triple bottom. The is huge potential now for the next test on this level to break this level aggressively which could take us down towards the lower key support of 1730-20.
Hope this helps traders, its more an educational post rather than our analysis but please do back test it and see how it works for you. Any questions please do ask, we try our best to answer everyone.
See you tomorrow for the KOG report.
As always, trade safe.
KOG
Euro can fall to support level, break it and continue to declineHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price some time ago declined to the resistance level, which coincided with the seller zone, broke it, and fell a little lower than1.0755 level. But later price turned around and made a strong impulse up to the support line, breaking the resistance level again, after which the price started to decline. In a short time, the EUR fell to the 1.0755 level, broke it, and entered to range, where it declined to the support level, which coincided with the buyer zone and even made a fake breakout of it. Then price quickly rose to the resistance level, which coincided with the seller zone, breaking the support level, but at once rebounded and fell back to the 1.0680 level. After this, the EUR rebounded up, broke the support line, and rose almost to the top part of the range, after which turned around and fell to the buyer zone. A not long time ago price started to grow and in a short time backed up to range, where it now continues to grow. In my opinion, the price can rise a little more and then start to decline to the support level, after which the EUR will break this level, thereby exiting from the range and continuing to decline. So, that's why I set my TP at 1.0650 points. Please share this idea with your friends and click Boost 🚀
ETH. Buying opportunitiesHi traders and investors!
The seller's vector 9-10 reached its mandatory target in the sideways range on the daily TF from the previous review. It's time to update the possible scenarios.
Daily Timeframe Analysis
On the daily timeframe, the price has formed a sideways range that began in February 2024. The seller's vector 9-10 reached its mandatory target with a low of 3240, and now the buyer's vector 10-11 is relevant with a potential target of 3977. The first obstacle for the buyer is the high of the last seller's bar at 3435. The price has not yet interacted with this level. Since the price is at the lower boundary of the sideways range on the daily timeframe, it makes sense to start looking for buying opportunities. Let's look at the lower timeframe.
Hourly Timeframe Analysis
On the hourly timeframe, the price has formed a sideways range. The seller's vector 4-5 exited the boundary of the range, and then the buyer absorbed the attacking range boundary candle of the seller, forming a buyer's zone at the end of the seller's vector (blue rectangle on the chart). Currently, the buyer's vector 5-6 is relevant with a potential target of 3653. The price is at the lower boundary of the sideways range on the hourly timeframe, so it makes sense to start looking for buying opportunities.
Buying opportunities
Buying opportunities can be sought from the idea of realizing the buyer's vector 10-11 in the sideways range on the daily timeframe or from the idea of realizing the buyer's vector 5-6 in the sideways range on the hourly timeframe.
From the protection by the buyer of the lower boundary of the sideways range at 3362 on the hourly timeframe.
From the protection by the buyer of the level 3345, which is the test of the seller of the formed buyer's zone at the end of the seller's vector 4-5 on the hourly timeframe.
From the protection by the buyer of the level 3240, which is the test of the seller of the formed buyer's zone at the base of the buyer's vector 8-9 on the daily timeframe.
After the buyer absorbs the daily candle of June 24, 2024 on the daily timeframe (conservative strategy).
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BTC at the bottom of week range!Bitcoin hit the bottom of the range ✅ Alarm was right pointing for range bottom at ~58k, as BTC dipped to 58414 on that move.
Now the main question - is it over? Shortly - if you are a respected TA, you can't say so yet. Why? Because week candle is only developing, so we won't have any clarity till next week close at least. Day candle shown nice bearish impulse with long tail, which can be taken as a first step of a bounce pattern, but to confirm it we'll need another 1-2 Day candle to close. Which brings us back to the idea, that this week it's all about guessing, but no mindful conclusions.
Week close above ~60622-59600 will increase chances for a bounce from range bottom. Close below will keep momentum to dip lower. That is the only thing we can say now for sure.
Nearest liquidity pools:
above - 61840 / 62440 / 63260 / 64920
below - 60235 / 59820 / 59460 / 58040
Lines on the chart:
🔸67577 - May close
🔸63195 - week open
🔸60651 - April close
🔸59112 - March low
🔸56537 - May low
🔸53245 - Nov'21 low
Trend: D 🔽 W 🔼 M 🔼
🤑 F&G: 30 < 51 < 53 < 63 < 64
BTCUSDT. Trading opportunityDaily Timeframe Analysis:
The price has been in a sideways movement on the daily timeframe since February 2024. The current buyer's vector 10-11 has a potential target of 72797, but the buyer has not yet reached this goal. The seller has formed a selling zone at the end of the unfinished buyer's vector 10-11 (red rectangle on the chart, lower boundary of the seller's zone at 66060.31).
Currently, the price is squeezed between two levels: 64602.77, which represents the buyer's defense of volume accumulation at the lower boundary of the daily range, and 67298.81, which represents the seller's defense of the selling zone.
Hourly Timeframe Analysis:
On the hourly timeframe, the price has formed a sideways movement. The current buyer's vector 9-10 has a potential target of 67298.81 (!). The upper boundary of the range is at 67370.24, and the lower boundary is at 65078.
Buying Strategy:
From the idea of realizing the current buyer's vector 9-10 within the hourly range, with a potential target of 67298.81.
From the idea of realizing the buyer's vector 10-11 within the daily range - when the price breaks above the upper boundary of the hourly range (67370.24) and the buyer defends this breakout. The potential target is 72797.
Selling Strategy:
From the idea of realizing the seller's vector 10-11 within the hourly range from the upper boundary of the range (67298.81, 67370.24). The potential target is currently unknown and will be formed after the realization of the buyer's vector 9-10.
From the idea of buyer weakness on the daily timeframe - when the price breaks below the lower boundary of the hourly range and the level 64060, and the seller defends this breakout. The potential target could be 60200.
BTC in a Daily Range - Breakdown Likely?Bitcoin has been stuck in a range for the past 3 months. On the daily chart, it's hovering at the top. The Visible Range Volume Profile ( VRVP ) indicates a zone of high volume at $63k, suggesting this could be the next significant support level.
Analysis :
- Range : BTC has been trading within a range defined by $63k and $72k for 3 months.
- Top of Range : The current price is near the upper end of the range, hinting at potential resistance.
- VRVP : The VRVP highlights a high-volume zone at $63k, suggesting this level could act as support.
- Breakdown : If the price breaks below the range, $63k would be the first major support level to watch.
Gold can break resistance level and continue grow to 2365 pointsHello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price a few moments ago price rose to a resistance level, which coincided with the seller zone and soon broke it. After this movement, it made little correction and then rose to 2450 points, and then made impulse down to 2330 level, breaking 2385 level. Then Gold started to trades inside the range, where it some time traded near the current resistance level and some time later price rose to the seller zone, after which turned around and made a downward impulse. Price entered to wedge, thereby exiting from the range and also breaking the 2330 level, which coincided with the buyer zone. Gold fell to the support line of the wedge and then started to grow to the 2330 level. When the price reached this level, it broke it and reached the resistance line of the wedge, but a not long time ago XAU turned around and fell back to the support line of the wedge, breaking the current resistance level one more time. Now, the price trades in the buyer zone, so, in my opinion, it can rebound up from the support line and break the resistance level. After this, the price will continue to grow to the resistance line of the wedge, therefore I set my TP at 2365 points, which coincided with this line. Please share this idea with your friends and click Boost 🚀
XAUUSD 23/6/24Gold this week has a similar outlook to last week. We have an extreme POI (Point of Interest) within the market, a higher time frame order block, and a fair amount of liquidity below the structural lows established last week during our pullback.
If you are up to date with last week's markup that we posted on TradingView, you would see that it has played out almost perfectly as expected. Following this, if we pull higher into the area of supply before dropping, we would expect a longer-term sell move. Conversely, if we sell off sooner, we will expect a bullish move later in the week.
If this fails, we expect the 4-hour low to be closed out completely and the price to move bearish. The main points to focus on this week are selling away from the area of supply and capturing the liquidity that sits below the lows.
Trade safe stick to your rules!
EURUSD 23/6/24This week on the Euro, we're looking for price action to respect the higher time frame bearish narrative and overall play within the four-hour major range that we have in play from last week.
Picking up the markup we have provided, you can see what we are analyzing. Options one and two involve playing within the short-term internal range and breaking lower within those areas, giving us a bearish shift below the four-hour low we have highlighted. Of course, this means that the price will not be pulling back to the 50% of the higher timeframe range, but this is not essential—it's just preferable. If we break higher above the four-hour high highlighted above the first two areas of supply, then I'll expect the price to push up to the extreme area of supply. In turn, we are looking at the price to sell away from targeting the four-hour major low that we have marked. This is the main key for this week.
If we only have a bullish week and play within the higher timeframe range, we will, of course, trade accordingly. However, we ultimately are looking for sell opportunities this week. Take a look at the chart, and you will see the areas we are focusing on.
Trade safe and always stick to your plan!
XAUUSD. The seller is aiming for 2326 and belowOn the daily time frame, a sideways movement has been forming since April 9th. The buyer’s vector 4-5 reached a new high. The key candle of vector 4-5 was on May 20th and is located at the top (highest volume, "tKC" on the chart). The seller absorbed this candle, and now the seller’s vector 5-6 is developing. The first target is 2326.515.
On the hourly time frame, there is a short trend. The last seller’s impulse started from 2374.01. The price corrected to the 50% level of the last impulse (2364.498), and we see a strong seller’s continuation.
It makes sense to look for sell opportunities above 2390 if the price returns there or from the defense of the trend by the seller.
Bitcoin can turn around from support area and start to growHello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price started to trades inside the upward pennant, where it broke the 60700 level and then reached the resistance line of this pattern. After this movement, BTC turned around and started to decline to the support level, which coincided with the support line of the pennant, and then the price made an upward impulse, thereby exiting from this pattern and soon broke the 66700 level too. Next, the price made a retest and started to trades inside the range, where it at once rose to part of the consolidation and then made a correction movement to the current support level, which coincided with the support area. Price some time traded near this level a little more and later rebounded up to the seller zone, where it at once turned around and in a short time fell back to the current support level. At the moment, it continues to trades near the 66700 level, which coincides with the support area and bottom part of the range. For this case, I think that BTC can fall to the support area and then turn around and start to grow to the seller zone. So, that's why I set my target at the 71000 points. Please share this idea with your friends and click Boost 🚀
XAUUSD 1H - Consolidations Trading Setups - C.I.R.C. MethodThe chart above showcases various consolidations and their formation dynamics.
Consolidation, Initiation, Retracement, Continuation (CIRC)
Consolidations
What are “consolidations”?
Consolidations, often labeled as “ranges” in mainstream trading, hold a deeper meaning at T.T.T. Here, consolidations are the playgrounds of the BFI, zones where prices oscillate between highs and lows, as illustrated below. Within these confines, intentions simmer as BFI stack orders to propel future price movements. We confidently trade consolidations, fully aware of the intricate dynamics unfolding within the market’s underbelly.
XAUUSD 15M - Consolidations Trading Setups - C.I.R.C. MethodThe chart above showcases various consolidations and their formation dynamics.
Consolidation, Initiation, Retracement, Continuation (CIRC)
Consolidations
What are “consolidations”?
Consolidations, often labeled as “ranges” in mainstream trading, hold a deeper meaning at T.T.T. Here, consolidations are the playgrounds of the BFI, zones where prices oscillate between highs and lows, as illustrated below. Within these confines, intentions simmer as BFI stack orders to propel future price movements. We confidently trade consolidations, fully aware of the intricate dynamics unfolding within the market’s underbelly.
XAUUSD 1H - Consolidations Trading Setups - C.I.R.C. MethodThe chart above showcases various consolidations and their formation dynamics.
Consolidation, Initiation, Retracement, Continuation (CIRC)
Consolidations
What are “consolidations”?
Consolidations, often labeled as “ranges” in mainstream trading, hold a deeper meaning at T.T.T. Here, consolidations are the playgrounds of the BFI, zones where prices oscillate between highs and lows, as illustrated below. Within these confines, intentions simmer as BFI stack orders to propel future price movements. We confidently trade consolidations, fully aware of the intricate dynamics unfolding within the market’s underbelly.
17/06/24 Weekly outlookLast weeks high: $70,207.85
Last weeks low: $65,079.20
Midpoint: $7,643.52
Bitcoin over the last week is in a clear downtrend, despite midweek volatility caused by the CPI & FOMC news events. The results of those news events overall were positive and we saw the reaction of that with a move from 0.25 level to range high. Yet price rejected yet again from the '21 ATH / range high levels before printing Lower highs and Lower lows making BTC LTF bearish.
Altcoins are being destroyed during this chop, clear downtrends sub 4H 200EMA and a lot are retesting their 1D 200EMA levels for the first time in months. Only a handful of well performing exceptions are surviving but even they are running out of steam e.g. LSE:ONDO , LSE:TON , $JASMY.
I think I could see a sweep of the previous weeks low, before we see any sort of rebound and aim for MIDPOINT. The 4H 200EMA is sat at just below MIDPOINT and so there is huge resistance there, a rejection of that level continues the LTF downtrend.
This week I am continuing to monitor the Bullish Divergences that are appearing on the 4H & 1D and looking for any clear reversal in trend direction. For now I cannot see what catalyst would be responsible for turning this price action bullish, but that is what my focus is on, until then this is a no trade environment in my opinion.
AUDUSD → False breakdown of resistance. Ready to go down?FX:AUDUSD is forming a false break of the range resistance, but the market continues to struggle between traders. The focus is on the risk zone, the breakout of which will send the price flying downwards.
The trend is neutral, after a long-range retest of 0.66676 resistance a false breakdown is formed and the buyer has no potential to go up. A retest of the local maximum is possible, but all the emphasis is on the support at 0.6648. A break of this area will be a confirmation of the buyers' loss, as well as a break of the local uptrend, which will provoke the formation of a strong bearish impulse.
Resistance levels: 0.6668, 0.6715
Support levels: 0.665, 0.6558
Most likely, the buyers' strength will not be enough to pass the mentioned resistance from the first time. At the moment the seller is pushing the market and if the key support area is broken, the market will change its local mood
Regards R. Linda!
CAD_CHF WILL KEEP FALLING|SHORT|
✅CAD_CHF is trading
In a downtrend and the pair
Broke out of the horizontal
Range pattern so we are
Bearish biased and we will
Be expecting a bearish continuation
SHORT🔥
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