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EURCHF: Classic Wyckoff Pattern 🇪🇺🇨🇭 Traders, I see a classic Wyckoff accumulation pattern on a daily time frame on EURCHF. After a strong bearish wave, the market started to trade within a horizontal trading range. Even though, the price set a new low, consolidating, the market managed to return to the upper boundary of the range. Yesterday, a high momentum bullish candle was formed. The market successfully broke and closed above the range's resistance. It makes me think that the described consolidation was the accumulation stage and a bullish movement is coming. Goals: 0.9813 / 0.9848 ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
3
LINK TO THE PASTHistorically Link has been brilliant to trade from a technicals perspective. You can see the prior consolidation channel and the 2 x Head and Shoulder patterns that played out beautifully. You can also see how the green circles were great entry levels At present we appear to be in a consolidation box awaiting breakout. I am leaning Long Term Long for the following reasons: - On Balance Volume is increasing - Break above 50 week MA - RSI pressing upwards - 90% correction in price since May 2021 (when we broke RSI resistance line, important to watch for this and exit trade if it occurs). - LINK/BTC is also in a downward channel and looks ready to break out - You will see from my recent BTC Dominance chart i believe we will have a slight pull back in dominance over coming weeks offering ETH and Alts an opportunity to make some gains - The prior patterns, the H&S, Parallel channel and subsequent H&S top, these all lasted between 52 and 72 weeks. We are in this current consolidation pattern almost 50 weeks. It is probable that we get a break out within 2 - 22 weeks. Trade Management (swing trade) - A retest of the 50 MA would be a reasonable entry. Bottom of the box event better. - Break below box, exit trade. - Trade timeline 2 - 22 weeks (explained above) - If already in the trade I would be keen to exit the trade once in oversold territory on the weekly RSI (We can always reenter it later). PUKA
COINBASE:LINKUSDLong
by PukaCharts
EURUSD: Scenarios For Next Week Explained 🇪🇺🇺🇸 EURUSD is trading within a horizontal range on a daily. Depending on the FED interest rate decision on Wednesday, I see 2 potential scenarios. If the price breaks and closes below 1.063, I will expect a bearish trend continuation and a bearish movement to 1.054. Alternatively, a bullish breakout 1.0788 will trigger a bullish continuation to 1.081. The interest rate decision will most likely clarify the future direction of the market. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
10
Gold (XAUUSD): FED Interest Rate Decision Ahead 🟡 On Wednesday, we are expecting a FED interest rate decision. Gold will most likely will remain very calm until then. On a daily time frame, the price is currently trading within a horizontal range. Bullish news will trigger a breakout of its upper boundary. Daily candle close above will confirm a violation. A bullish continuation will be expected at least to 2006 level then. Alternatively, a bearish breakout of the support of the range and a daily candle close below will trigger a selloff. A bearish continuation will be expected to 1900. Smart money are already accumulating their positions. Watch the intraday price action around the release of the news for the clues. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDShort
by VasilyTrader
5