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Double Top On EURUSD 4-Hour. Will it play out?Good morning! Today, we are on the EUR/USD pair. We are looking at the 4-Hour time frame. It seems we have a double top at play here. However, I’m not convinced about the neck zone ( Liquidity zone ) We have full (pure) divergence across the MACD. We also have a large bullish volume break-out bar. This could mean that it’s a bull trap and that price will move down further which would be added confluence. However, I want to see further impulse lows closing below the neck zone in its entirety before a retrace up to the top of the neck zone. If this happens then I would short this pair at that point and my targets would be the previous price structure which I’ve shown on the chart. It is a Friday so this could take some time to play out. Either way, it’s one to watch as we can always learn from these patterns. Hope you all have a great weekend and I will be seeing you all on the next one!
Short
by TheVortexTrader
Right into Resistance *UPDATE*Accumulation at 33-35k we bounced off the accumulation (a lot of buys at that levels) hedge funds and VCs moving into the space seems to be where they are buying, don't sell them your BTC! They are hoping you do, as predicted in previous publication we went right up into resistance the more we test the resistance level the weaker it will become. Wedging ourselves slightly above that resistance and the Icki cloud it was never going to hold as the was to much bearish pressure at those times. 43800 was our last support it doesn't look like it will hold due to the resistance level and the cloud on the daily candles, I would say we will dip to at least 41617 our next support level hopefully that will reset our RSI back in to neutral territory and our moving averages will pull up heading toward "consensio" . Remember once in the cloud that is a no trade zone as the volatility will be wiping out shorts and longs, if we get there, closing in the cloud on the daily candles..... The chart shows the predicament we are in, I am neutral at these levels as I have never seen a back side of a wave 7 off a double top, hopefully there will be a much more clear sign of what's to come in the following days and we can determine that the super cycle is dead. Until then. "She took my pants too, one more trade to get her and the pants back." -KewlKat
BITSTAMP:BTCUSD
by kewlkat
Possibilities/Is this supercycle DED>?We broke the down trend unexpectedly, was hoping for a rebuy at 30k sometimes you don't win them all. So we can assume the accumulation is around 33k-35k. Resistance level is from 45-47k a daily close over these positions would indicate we have enough momentum to continue into a newly emerged paradigm, an accepted positive paradigm and the super cycle with no more 80-87% draw downs off ATH 1.5 yrs from the "halvening". Getting there: First we must break 47k but it is not that simple because at that point we would be in the Ichi cloud on the daily candles and when your in the cloud the basic strategy is that is a no trade zone because volatility is usually extremely high. This we rekt shorts and longs, there is no upside to this trade as it is kinda a "dark tunnel" you don't know where you'll be when you exit it. The are a lot of wave analysis going on the charts are to clean and not taking into account the bumpy road getting to those upper levels. Also keep an eye on the RSI and the MACD as some of there levels are being stretched thin. Bear possibility: This could be a last wave of a bull cycle most likely pushing into the cloud but not able to close above, in this case we could see 20s easily. Lets pray we are not winding up for the smash onto support. Though unlikely as we have seen a double top, I have never seen a wave after a double top. Conclusion, If bitcoin goes up they all go up..... lets just hope for that. A lot of VCs and Hedge funds are entering the space aswell as nation states, this could be the year the supercycle fails. Lets go with that..... "Just one trade could get my wife and kids back." -Kewlkat
BITSTAMP:BTCUSD
by kewlkat
Will ETH come out of the triangle top?Hello every one, Today we did an ETH / USDT review. As you can see, the price created an uptrend and an uptrend after noting the previous lows. Looking at the 4h interval, looking at the next few hours, we have several resistance lines ahead of us, the first of which is $ 2706. On the other hand, the resistance zone is in the range of $ 2,645 to $ 2,606. Using the MACD, we can see that in the 4h interval, the blue line is approaching the crossroads with the red one from above, which may result in another price drop. More details on the chart :)
by cryptodailyuk
1
The Beast doesn't like MondaysThis one will be short and sweet! The beast Gave $1.30 in longs and just about closed above 85.7 (86) in the first 4hours of Asian session today. (240122) From the last idea it only manged to be long for $1.30 (130 pips) before dropping for a total of $5.11 (510 pips) after the $3.20 (320 pips) on Wed (190122) and $4.30 (430 pips) on Thursday.(200122) The weak close in the box above left the door open for that short. What did we see today? Although we saw the big fall, Price once again failed to break and close into the box below on the 4 hour TF. Instead a 4 HR Red Vector candle broke in, went down to recover the Green Vector from 14th Jan and bounced up to close back in the box that we currently find our selves in. It also gave us a chance to get a better price (82) for new longs. The last 4 hour candle of the day also closed Blue, indicating more Bullish movement. which we have enjoyed $2 so far. We have seen many Tuesdays start a rally after a fall on a Monday so let's see how this plays out and be ready to go short if price fails at key resistances. With the Embedded lost in the Daily and a bunch of Purple in the smaller TFs we may have had the bearish confirmation but are looking for some more Bear signals but will only be short again if Oil fails to break resistances as we have Red Vector candles in the Hourly from 13:00 UTC running up to 85.6 and we can see a move back up there and possibly beyond in the next few days. Good luck guys! This is not financial advice and should be taken with a pinch of salt!
TVC:USOILLong
by Squeeezy-Trader
Insight on GBPNZD and what to expect coming weekon higher time-frame such as Daily I see a choppy marktet however, 4H did a Bullish move and that applies to 1H. we are currently at a KEY RESISTANCE Area, so far we have seen that there is been a false break-out, a temporary buy and currently a consolidation. My best bet here is to not look for a buying opportunity till we have 75-85% confirmation that price has claimed above 1.96107 level with a CLEAR SUPPORT with a BULLISH ENGULFING and 4H timeframe signaling a potential BUY before we can look more Bullish.
by MII1502
5
CNC: ON WATCH FOR A $25 MOVECNC: CNC is now retesting a multi-year resistance around $75. The resistance line has started in August 2018. The trend is up. Resistances are made to be broken and a stock that breaks through a multi-year resistance level can lead to a significant rally. It's often even better if the resistance level is at the stocks all-time high since there is no overhead resistance. I will be looking for a break and weekly close above 75 to enter a long swing position. This one is for patient investors/traders. If we break, I would target a 1st target of $100. Trade safe!
NYSE:CNCLong
by Elpidaldo
EURUSD-Weekly Market Analysis-Jan22,Wk2A Happy New Year to you. Yes, we are back on our Weekly Market Analysis, how have you been? EURUSD on the 4hourly chart we have a Bearish Gartley Pattern that will be good for a shorting opportunity as the candle respected the PRZ zone of the Gartley Pattern more than the 1 that form in the GBPUSD. Check the comments at the bottom of TradingView for quick access. However, breaking and closing above the red line or X for the conservative traders, and that will change our perspective and may not trade the Harmonic Pattern as the ascending triangle got back on track. I'm waiting for market open and will engage the trade 2hours after the market open. If the market gap up, I will forgo the trade.
Short
by RaynLim
What's up with Netflix $NFLXFor this analysis we are looking at the daily timeframe. NFLX is in a nice uptrend, but currently we are seeing a retracement, which is the chance to buy a nice stock at a smaller price. Netflix recently broke the upper resistance of an ascending triangle formation, which is a bullish sign. The break was followed by a fastly reached ATH from which the price dropped to the 550$ mark, which is 1. supported by a weekly trendline (TL) and 2. the upper resistance (now support) of the previously broken triangle pattern, which suggests that rn could be a good time to enter a long position, right? But before spending your hard earned money right away, have a look at the $NFLX earnings (January 27th). $NFLX lately tends to fail analyst expectations on earning reports (and $NFLX tends to perform better in Q1-Q3), the rather small drops after failing those kind of reports (as long as the expectations aren't missed drastically) tend to be corrected after a couple weeks, but this drop in price could give you a chance to buy a second position. Idea: enter a long position during the next week (since we need confirmation that our supports are stable), your TP could be at the previous ATH (21% gain if you decide to enter where I will enter (you can see the trade entry on my chart)) As always: no financial advice
NASDAQ:NFLXLong
by SimpForProfit