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Skyboxpipsacademy

Head and ShoulderYou probably heard of the Head and Shoulders chart pattern. There are two versions of the 'Head and Shoulders' in the markets. The pattern that resembles a human figure standing upright is the BEARISH version where we would like to see SELLS in the market. The pattern that resembles a Human figure hanging upside-down is called the "Inverted Head and Shoulders" pattern where we would like to see BUYS in the market. In this chart example, we have the Bearish version. The head (where the face is located) is often times classified as the stop hunt where liquidity is established. The stop hunt liquidity is where retail buyers are trapped. An optimal entry for this pattern would be on the right shoulder (located on right side of your screen) with first targets aim at the neckline or beyond.
OANDA:NAS100USDEducation
by Skyboxpips
Ethereum Trade ReviewToday in the markets started off slow then went crazy towards the end of the day. Was anticipating Ethereum to continue to push higher but saw bearish price action towards 'Yesterday High' and 'High of Day' then opened a sell position at 3159.30 Price was consolidating for 2 hours around the entry and exited the trade at 3137.14 for a 3x reward. Did not foresee USD high impact news (FED Powell Speech) to drop the market significantly right after I exited the market for more 1,400 pips. Shed a tear or two lmao
FOREXCOM:ETHUSDShort
by Skyboxpips
SPX500 Trade ReviewYesterday we posted an analysis of SPX500 (S&P500) and how we would react once it break the higher timeframe trendline and reaching the zone. Today, we saw price had created an seller induction before the NYSE open at 9:30am EST and broke and retest our 5 minute trendline to go long. We enter a buy position on the 5 minute candle with targets to our blue zone and price did in fact went to our zone for an reward 5x our risk or 600pips Link below is the chart of spx500 that we posted yesterday.
OANDA:SPX500USDLong
by Skyboxpips
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AUD/USDBased on the Daily timeframe chart for AUD/USD, we have broken the weekly bearish trendline (Black-line) and price rejected the minor resistance level giving us a minor bearish retracement. If price respects and stay on top of the orange trendline, then we will look for signs of rejection with bullish price action. If price breaks the orange trendline to the down-side, then we will play the shorts till we reach the either the previous Lower high or the Black trendline to see if AUD/USD is going to respect the weekly trendline OR continues to the major support level. Will be taking advantage of intraday setups with the private mentor group as we look for possible swing positions in mean time
by Skyboxpips
Ethereum AnalysisEthereum has been on a bull run for the previous weeks. Last week price was bouncing back and forth in a Ascending wedge formation. Price is trading into a previous resistance level that is marked on the chart. Looking for price to break through the resistance level and get a retest so the bull run may continue. If price decides to reject the resistance level at first, then will be looking to ride the sells down on the pullback and anticipate buy momentum to further break the resistance zone. This upcoming week is Non-farm payroll (NFP week), there will be a lot of high impact news being released during this upcoming week.
COINBASE:ETHUSD
by Skyboxpips
Ethereum Trade IdeaAfter we had some sell pressure come into the market near the $3000 price point. We identify a possible Head and shoulders pattern that may be looming. If price returns to the blue area to line up with the "left Shoulder" then we will be looking for any sort of bearish price action confirmation. In this case, first target would be aimed towards the neckline (support) and if price breaks the support area then we would continue to ride price short. Market structure has not been broken for the lower timeframe uptrend so be weary that price may continue to the top-side aiming to pass the $3000 price point
COINBASE:ETHUSD
by Skyboxpips