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Structuretrading

Week 8: Are we going to see the 10.5k? =DSince the beginning of the year we have been in a very strong downtrend, but technically the trend has turned bullish on the 4H-Chart as soon as the Blue Structure level was violated after forming a Head & Shoulders. Since the breakout the price has been in a strong upward movement until the RSI became extremely Oversold and on the next resistance in Green. Since then, the Price is getting some seller pressure. If the price respects that resistance, it opens up 2 good opportunities to get long. Scenario 1 (Green Arrows) : This scenario is my preferable one, because: Breakout Confirmation of the Blue Structure Breakout Retest of the Head & Shoulders formation Fibonacci Confluence (61.8% from last leg & 38.2% from last bottom) If the price retests the Blue Area, I will wait for a candlestick formation to get long for a retest of the previous High Target 1: @9k and an extended Target 2: @10.5k Scenario 2 (Yellow Arrows) : This scenario is also a possible long opportunity if the price does not break and close below that area, because if it does, I will no longer be interested in a Buy, also on this scenario my targets would be more conservative: instead of aiming for an extended target I would only buy for a retest @7.5k for Target 1 and Target 2 a retest of the previous High @9k. If you like the Idea give it a thumbs up, leave a comment if you want to discuss it or have any question. Take care & Happy Pip-Hunting
Long
by xWolfxPT
BITCOIN Did Not Bottom, YetAs expected BTCUSD fell down into wave (c) a third leg of decline that we have been talking about a lot in our past updates. Wave (c) is a motive wave, so it must be made by five subwaves before we may even consider that correction is finished. Well, if we take a look at current price move on BTCUSD we see very slow structure, thus it’s probably just a wave 4 within still ongoing wave (c). So, sooner or later we expect new decline into wave 5 of (c), where final support zone can be between 8700 level for (A)=(C) and 6800 level towards channel support line and 161,8% Fibo. extension of wave 4.
BITSTAMP:BTCUSD
by ew-forecast
65
EURUSD 1HR - the importance of structure ----ABCD- 2618Had a very nice conversation about this pair with one of my clients last night and wanted to share this morning now that not much has changed overnight. There are 2 setups on this chart one was a double bottom which can now potentially turn into a 2618 opportunity at MINOR structure & the second is a potential AB=CB pattern with fibonacci confluence that can potentially complete at major structure. The conversation had yesterday was about how to determine when structure was "Major" vs. "Minor" & how that may affect our trading decisions. Personally i prefer to look my trading opportunities at major structure as it allows me to be more aggressive with my approach due to the risk reward that is often gained there. Plus we all no that "good moves don't last long" However that doesn't mean that you can't look for trading opportunities at minor structure as well. You certainly can, it just may be worth taking a more cautious approach & waiting for extra confirmation before pulling the trigger. Well, it's almost 7am, time to double check stops and targets before the today's Monetary policy. A more hawkish than expected tone would work perfectly with my current positions. GOOD LUCK TODAY TRADERS, HAVE A GREAT TRADING DAY!! See you this weekend with another video... Or maybe today, you never know Akil
Long
by Akil_Stokes
23
GBP/CAD SIMPLE STRUCTURE TRADELooks like we have a valid bearish continuation pattern, and even though the trendline (light blue) has been broken I still don't feel like hopping on the trade, as we have a major level of Key Daily Structure just beneath. Therefore I prefer waiting for that level to break, retest it (by bouncing of the S1 daily PP) and then enter to get a better entry point. All other details are displayed on the chart DO YOUR OWN DUE DILIGENCE BEFORE ENTERING THE TRADE. NOT A TRADING SIGNAL.
Short
by Aqua_Trader
EURNZD - Breakout RetestHere's something that we just took a look at in the Live Room, while watching Yeelen's Testimony. EURNZD (Which is a pair I don't trade, for those who think I trade every idea that I post) is has rallied toward previous structure highs and is now retracing back down into the previous pennant pattern highs. Although I wouldn;t be looking for a full trend continuation move here, I certainly think there is the opportunity for a trader to involve themselves in a low-risk trade looking for a retest of the highs. Akil Stokes Trade Empowered "Plan Your Trade, Trade Your Plan"
Long
by Akil_Stokes
6