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USDZAR POSSIBLE OHLC MONTHLY (AUGUST) AND YEARLY STRUCTURE Please support this idea with LIKE if you find it useful.. OHLC AUGUST MONTHLY STRUCTURE /OHLC YEARLY STRUCTURE ******************************************************************************* Kindly wait for price to find a strong resistance. We will find confluence with other technical indicators for a VALID SELL ENTRY. Remember we still in the first week of the month which means beginning of session traps. Trade with Caution. Wait for valid entries. P A T I E N C E + D I S C I P L I N E
Short
by PeanutButter
8
EURGBP Short - FlashcardEURGBP Short Direction: - Showed Bearish Momentum and Bearish Orderflow. - Price came into H4 Bearish Orderblock and indicated on the M15 that the pair was going to drop in this OB. Entry: - M (Double Top) Pattern Formation. - Resistance off 200 EMA shown by the pins from the candles. - Pins to the high also indicate that the current high of today was going to be held, and not broken. - Divergence indicated pair was going to drop. - RSI crossed volatility bands (Shark-fin) indicating pair was going to possibly drop. - Volatility bands were squeezed and the MBL (Market Base Line) was pointing down. This indicates the pair was going to burst to the downside. Exit: - 18 pip SL @ just above YH. YH (Yesterday's High) is a possibly resistance point. - 32 pip TP @ just above YL. YL (Yesterday's Low) is a possibly support point.
Short
by FotiosDimitriou
2
NZDUSD Short - FlashcardNZDUSD Short Direction: - In the last level of a Bullish Cycle, which indicates a reversal is imminent. - Second leg of source formed on the H1 & H4 indicating a breaker will form and Bearish Orderflow is going to occur soon. - Daily TDI indicated pair was heavily overbought and was due to start dropping long-term. Entry: - M (Double Top) Pattern Formation. - Yesterdays High was never broken and was being respected, indicating a resistance point. Therefore, the market was looking to go down. - RSI is near the 68, indicating the pair is exhausted and near overbought. This gives an indication the pair will drop. - Divergence indicates the pair will drop. - Candle closed below 13 EMA indicating pair will most likely continuously drop. This is my entry. Exit: - 17 pip SL @ 7 pips above YH (Yesterday's High). - 45 pip TP @ just above YL (Yesterday's Low), as this can be a support point.
Short
by FotiosDimitriou
EURJPY Long - FlashcardEURJPY Long Direction: - Pair is in H4 Bullish Orderflow, and is starting to enter Bullish Momentum on the Daily. - The pattern formed in a H4 OB (Orderblock). Entry: - W (Double Bottom) Pattern Formation. - Yesterdays low was held throughout the day. The pins to yesterdays low indicate the low will probable not be broken (This can be seen yesterday also). - 13 EMA Cross indicating continuation of rise in pair. - Three vector drop before held low indicates the market wants to grab liquidity before rising. - Squeeze in volatility bands at this point indicates a probable burst to the upside. - RSI crossed the volatility bands (Shark-fin) indicating pair will rise. - RSI is also near the 32 and therefore, the pair has been exhausted and near oversold. - Divergence indicates the pair will rise. Exit: - 55 pip TP @ just below YH as it can as a resistance point. - 20 pip SL @ just below YL as it can as a support point.
Long
by FotiosDimitriou
1
GBPCAD Short - FlashcardGBPCAD Short Direction: - Momentum on the H4 was Bearish. - The pair entered a Bearish OB (Orderblock) on the H4. - The pair filled in the FVG (fair value gap) on the H4, before dropping. - The pair retested the last level of the Bullish Cycle. Entry: - M (Double Top) Pattern Formation. - 13 EMA cross indicates probable continuation in drop. - Divergence. - RSI near the 68. This shows that the pair is near exhausted and overbought. - Squeeze in volatility bands between the 50 & 68 indicate a sudden burst will occur downwards. - MBL (Market Base Line) pointing down above the 50 indicates drop. Exit: - 35 pip SL @ above high. - 70 pip TP 1 @ 800 EMA, as this can act as a resistance point.. - 120 pip TP 2 @ just above YL.
Short
by FotiosDimitriou
2
USDJPY Short - FlashcardUSDJPY Short Direction: - The pair was in Bearish Orderflow. - Pattern was created in the Bearish H4 OB (Orderblock). Entry: - M (Double Top) Pattern Formation. - Big pin created covered the FVG(fair-value gap). This pin is also in the H4 OB. This indicates a quick move occurred to grab liquidity before moving down. - 13 EMA cross & close, confirming continuous down movement. This was my entry. - RSI near the 68. This indicates the pair is exhausted and is near overbought. Therefore, the pair is due to drop. - MBL (Market Base Line) is pointing down above the 50, which indicates probable drop. - Squeeze in volatility bands between the 50 & 68 indicate a sudden burst will occur downwards (volatility bands will open up to the downside). Exit: - 9 pip SL @ above high. - 16 pip TP @ 200 EMA. This can act as a resistance point to the pair, so my TP was slightly above it.
Short
by FotiosDimitriou
6
CHFJPY Short - FlashcardCHFJPY Short Direction: - The pair retested Source at the H4 OB (OrderBlock). - Reversal expected as liquidity was trapped at the Source. - At last level of Bullish Cycle. Entry: - M ( Double Top ) Pattern Formation on the M15 & H1. - Divergence occurred on the H1. - RSI crossed volatility bands (Shark-fin). - RSI above 68, indicating pair was overbought. - Pair crossed 13 EMA confirming continuation of drop . Exit: - 18 pip SL @ just above H4 OB & high. - 38 pip TP @ just above YL (Yesterday's Low).
Short
by FotiosDimitriou
EURGBP Short - FlashcardEURGBP Short Direction: - Approached the last level of a Bullish Cycle, so M (Double Top) formation pattern (or similar pattern that holds and indicates a high) expected to appear before reversing into a Bearish Cycle. Entry: - M (Double Top) formation pattern appeared. - Second leg of M formation crossed the 13 EMA, confirming the pair was going to drop. - Divergence shown indicated a drop. - RSI value was above 68 which means the pair was overbought, so it was due to short. - TDI MBL (Market Base Line) was above the 68 and pointing down, which also showed that price was possibly going to start dropping. Exit: - 26 pip SL @ 7 pips above high - 38 pip TP 1 @ just above 200 EMA - 71 pip TP 2 @ just above YL (Yesterday's Low)
Short
by FotiosDimitriou
5
USDJPY Long - FlashcardUSDJPY Long - Direction: In a Bullish Cycle on the H1, showing Bullish Momentum in Level 2 of the cycle. Entry: Pins and bounce off the 800 EMA indicated a possible low and after the low was held for over an hour, a W pattern formed, enticing me to enter. In addition, a shark-fin was seen indicating it was going to rise. SL 15 pips below Trade Open (7 pips below current low), and TP 60 pips above Trade Open. The reason for my TP being at this point is because I saw the RSI Line cross the Trade Signal Line, and the RSI Line also did a shark-fin as it was overbought (at the 83).
Long
by FotiosDimitriou
2
OIL? Hello?CURRENCYCOM:OIL_CRUDE Looking at this chart, we are about to do a move. But where? up or down? According to TDIGM indicator we are squeezing and all 3 lines are at the same place, touching eachother (insert creepy smile gif here). Normally, that indicates a breakout. Counting with Elliot waves I would say down, but maybe i'm wrong and i'm not seeing other patterns. Also, add that second COVID wave is near, as the number or infections started to grow again. Last time that happen, Oil went down, hard. Not sure what will make me think otherwise and see a potential upside. Anyone?
OShort
by teodorDrobota
DXY Dollar Index Turning Green ?The dollar index has broken medium term trend lines to the downside. Case for short term upside: 1. It is current EXTREMELY oversold on the RSI. 2. It has fallen far below its 50 day moving average. 3. TD Indicator is on a perfected 8 of 9 with the 8 daily candle being a big one. Potential capitulation here for a turnaround tomorrow on the TD 9. This inherently means that the ZAR Rand can weeken tomorrow as itself is now at its 618 Fib Retracement level compounded by an extreme RSI overbaught level.
TVC:DXY
by chsmit