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Retest-structure

ETHUSDT is looking for a retestThe price had a breakout from the descending channel and daily dynamic resistance after a double bottom on 2400$ On the 4h timeframe, after the breakout from the weekly resistance got a rejection from the 4h resistance and now the market wants to retest the previous resistance as new support on the 0.382 Fibonacci level in order to create a new higher low How to approach? The price needs to confirm the flip of the previous resistance, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
13
BTCUSDT is testing the previous supportThe price had a breakout from the rising wedge as I told in the previous analysis () and after a bounce on the 37300 the price is testing the previous support as new resistance. On the daily timeframe the price goi a rejection from our Daily resistance and supply zone, exactly on 39560. How to approach? We could have a bullish scenario if the price is going to have a breakout from 42k and retest is as new support. In that case, the price will have a breakout from the supply zone and dynamic resistance as well. Otherwise, if the price is going to have a new rejection from the old support (38400-39000) we could see a new breakout from the current support (37k) If the price is going to confirm the breakout, the next valid support is 35k on the weekly one. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure.
Short
by InkyGrip
10
Two short term possible scenarios for BTCUSDT. From the pullbacks in BTCUSDT prices now I have observed two possible scenarios about what Bitcoin will do next. People who have open long positions in the negative now can square off their deals with minimum loss if the price really go as we have seen in the chart after retesting the trend line. But, for the safer side never forget to use Stop loss because the market is being much volatile and prices may vary with huge variations as different kind of news comes up from everywhere hitting the market. - P.S.- This just for analysis purpose.. not for any investment advice.
by harman48
We Got A Funky Head And Shoulders On Gold. Will It Play Out?Looking at the 4-Hour view on Gold, we see that we have a potential inverted head and shoulders pattern playing out. However, we have not yet seen a retrace to the neck zone (Labeled on the chart ). As we are Breakout/Retest traders, we always always always like to see a retrace back to where the initial break out occurred from before we considered entering. The extreme price of the head is at the 1782.6 support level, and for the past few days, we have been expecting the price to trend slightly higher based on the divergence the histogram of the MACD has been showing. We have seen sellers weakening. We have also been expecting the price to push the 1810 point; old support flipped resistance. We also see a nice trend line moving upwards following price. This suggests bullish movement. We also notice volume decreasing, suggesting that a strong move could soon be on the cards. So play this carefully. Always wait for a setup to present itself and come to you. Never FOMO into a position. A retrace to the Neck zone would be where we would enter a long position. If we see no retrace and price heads towards the 1810 level without coming down to retest the trendline and neck zone, then no setup = No entry. A retrace to the neck zone and trendline would provide a safe entry with a RR of 1/4. The target would be the 1810 zone.
OANDA:XAUUSDLong
by TheVortexTrader