Resistancerejection
BTCUSD holds neckline supportBitcoin is once again testing towards the $9,000 resistance level after the recent technical pullback found strong buying interest from neckline support. The bullish pattern on the daily time frame still remains in play, which may eventually take the BTCUSD pair above the $12,000 level. Overall, the BTCUSD pair is set to close the month triple-digit gains and continues to ease towards the key $10,000 level.
The BTCUSD pair is bullish while trading above the $8,500 level, key resistance is found at the $9,000 and $9,600 levels.
If the BTCUSD pair trades under the $8,500 level, sellers may test towards the $8,300 and $8,000 support levels.
S&P OverBought, a pullback is coming.After a month's amazing rally, S&P is OverBought (Yellow), as shown in "9 Seasons Rainbow Indicator", OverBought appears in 1H, 2H, 4H time frames.
Similar situation appeared on Oct 2018, the difference is the time frame level with OverBought is higher than this time.
In addition, S&P is touching the previous resistance. A pullback is coming.
GBPCAD Sell opportunity at resistance level. This is merely an analysis. Go through the lower time frame to find a confirmation to go short at that resistance level. That resistance level has been tested a couple of times. It has formed a triangle pattern and support the trendline drawn on the chart.
EURNZD 60 Resisatnce tradeThis is not my usual Ichimouko Kinko hyo trades but simply a play off the consolidation on the 60 min TF. The Monthly and Daily are sill down and this pair has been unable to retrace.
Entry = 1.6760 (Yellow line)
Stop 1.6805 (10 pips + 3 for spread, above the prior high)
Risk = 50 pips
PT = 1.6710 support
RRR = 1-1 but a high probability set-up (82%)
USD/CHF SHORT - Bearish Divergence 1W + Major ResistanceUSD/CHF- SELL,
Talking points,
Technicals:
One and a half year high this past wensday. you can see the reversal patterns. Weekly divergence on weekly chart gives me the final check for a Short. Also closed the week under Recistance area
Fundamentals:
Thanksgiving US Holiday (Thursday & Friday), Liquidity.
Sentimental:
Retail FX traders are positioning in Dollar-based majors like EUR/USD: 63% of Retail Traders are Long, Despite YTD lows
PWR approaching key level on daily chart-rejection or break out?This level (approx 35.40$) has shown itself to be effective on multiple occasions. Earlier this year price formed a double top which confirmed being bearish followed by two failed attempts to break above resistance again. Price is now showing weakness and indecision again close to this resistance...
I would now enter short if price falters or, if a break should occur, go long above resistance. Considering price has spent a lot more time below this level, I am biased to a more bearish disposition but essentially time and price behaviour will tell!
Reverse in trend L.TO
Market tried to break through a resistance twice, but was pushed back under it. I predict a bearish downtrend to the support level of 63.00. There is a small support 64.5, but I don't think it wil suffice a considerate pull back, but something to be aware of. Furthermore, trend line crosses price at 66.00, which becomes a second resistance confirmation. SMA 5 crosses SMA 10, and Full Stochastic is breaking down. However, +DI breaks above -DI on ADX(14), but this has happened before already and it has been quickly reversed.
Considering downtrend in S&P/TSX, I wouldn't be surprised if support at 63.00 is broken as well.
Let me know your thoughts.
USDCAD (H4): Resistances in Play; Look to ShortUSDCAD
Timeframe: H4
Direction: Short
Confluences for Trade:
- Price at Resistance of MT Trendline (Since June 2018)
- Price at Resistance of Asymmetric Triangle
- Price at 78.6% Fibo Retracement levels
- Stochastic Overbought momentum
Suggested Trade:
Entry @ Area of Interest 1.3055 - 1.3148
SL: 1.3233
TP: 1.2858
RR: Approx. 1.80 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
EUR/USD Short Setup - RSI bearish divergence on the H4.
- Rejected major resistance level around 1.174 on the H1.
- On the daily timeframe, the fibonacci level of 38.2 has been fulfilled at this key level of 1.1740 which if holds up could imply that the retracement has finished or halted for the time being.
- Could see price action consolidate within the previous trading range between this level and 1.1630.
- 80 pips target with 50 pips stop.