GBP/CHF 2 Hour Trend Continuation Short Trade Setup I really like the look of this setup. Nice short trade for anyone who agrees with the analysis. If you want to wait for a safer entry wait for a 2 hour break & close of the counter trendline.
Tradesignals
FTSE - Selling a re-test of the broken channel UK100 is Bearish - We look to Sell at 5933
▪️ Broken out of the channel formation to the downside.
▪️ We have a 50% Fibonacci pullback level of 5936 from 6209 to 5665.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 5933, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.
Stop: 5983
Target1: 5665
Target2: 5627
USDCAD - Short Trade SetupUSDCAD H1 - If we see the bounce from support, this is what I was referring to on the previous comment, shorting from arrows indicated.
$BTC Are we long or short?Using the broadening wedge pattern to trade BTC here as a breakout trade.
WIll consider going long if it breaks out above 7000 otherwise its a short
BTC: Cyber Ensemble {Premium} predicted the pump and dump..
CYBER ENSEMBLE is a sophisticated signalling script base on the interplay of an ensemble of optimized indicators and market state filters. (>1000 lines of code)
General Note for Users:
As with any indicators (and TA for the matter), it is virtually impossible to achieve 100% hit rate -- be it due to black-swan events, during periods of low liquidity, or simply due to the intrinsic nature of the given market (or the time-span) coupled with the limitation(s) of a given set of studies applied, etc. -- however, which can of course be managed with suitable risk-management system(s) .
I've also developed scripts designed to statistically suggest suitable risk-limit levels as well as expected price ranges over a given period; ideally to be used in conjunction with classical trend-lines, Fibs, etc.:
USDJPYLONG USDJPY
Price is above EMAs and MACD is also approaching and seems to be crossing above 0.
Price is also holding above a short term ascending trendline support.
I will enter on pullbacks and targets are based on key Fibo retracements. Very nice R/R as well!
Please DYODA (Do Your Own Due Analysis)
$ETH Another Rejection To Upside - Bears Pouncing Rejection leading to further downside movement looks like longer-term targets are back into the 160 regions again.
DAX 30 at Risk of Trading Lower on Profit Taking, Brexit VotePer the pin bar candlestick, profit-taking should continue as long as the index trades below yesterday’s high of 12832.1, and the DAX index might reach the 12436.5 level, which is the 38.2% Fibonacci retracement level of the bull leg from the October low to high.
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Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice.
Time to start thinking about shorting POUND-DOLLARAnalysis of the 4 Hours Chart for FX:GBPUSD .
1) Trend Analysis - If we look at the above image, it clearly shows that the pair is in a downtrend . ( MAs and the Large Channel prove that).
2) Resistance Analysis - The red-broken horizontal line is a level of importance. The price tried to take support from this level a couple of times but failed miserably, i.e., it didn't make any promising minor high breaks (represented by 2 red down arrows) and also didn't quite make any impressing bull bars (which shows the strength of the bulls at this support is really weak). Furthermore, " Support once broken becomes resistance ." The market made new minor lows from those two minor highs which could suggest that the market is acknowledging this level as resistance . The Value Zone provided by the EMAs further strengthens this horizontal level. These EMAs proved to be excellent Value Zones for the price in the past and subsequently made new higher highs and new lower lows by taking supports and resistance respectively from these levels. There is also this minor channel drawn in the chart with blue-dotted lines that gives a trend-line resistance to the price, i.e., making this level more significant. So, we can say that the price is right at the resistance .
3) Candle Analysis - No strong bulls yet. The bull-bars couldn't even muster the power to break a single minor high. This shows us how weak the bulls really are. A big bull bar but no follow-through on closing basis. The big bull bar is making a steep slope (steep slope are always unstable and the price cannot stay at this level for long) which is probably showing that the market is in an OVERBOUGHT zone.
Trade-Ideas :-
a. One can take trades right here thinking that the price is still expensive. ---> Aggressive Approach
b. One can wait for the price to retrace back to those Value Zones, i.e., Trend-line resistance, Horizontal resistance and MA resistance, and then wait for a bearish candlestick signal to ride down the downtrend with a short trade. ---> Conservative Approach
I don't know which one of the above-mentioned approaches is correct. Sometimes the aggressive one is correct, sometimes the conservative approach is the one we should go with, and sometimes both the approaches are proven correct by the market.
Conservative Stops should be above these minor highs @ 1.23850 USD
Targets should be at the next support-levels @ 1.20300 USD or 1.19500 USD
This trade can have a reward – risk ratio of 3 or more if the cards are played right.
For traders who want to know more about my techniques or have any queries, you can chat with me directly through private chats. I will reply you back as fast as I can. Kindly like this post . Also, please do comment in the comment sections below . And I will love it if you follow me .
Thank You!
Disclaimer -
All the ideas posted on these posts are published in good faith and for general educational purposes only. Satx98 does not make any warranties about the completeness, reliability, and accuracy of this information. Any action you take upon the ideas posted by me, is strictly at your own risk. I will not be liable for any losses and/or damages in connection with the use of my ideas.
EUR/USD Daily Update: Bull run continues for second day.EURUSD has continued its bull run for the second day, after breaking out of a bullish wedge pattern and reaching near a horizontal support zone.
From a technical standpoint, the higher highs on the daily chart suggest that an uptrend is forming.
Yesterday's dovish testimony by Fed's Powell put selling pressure on the greenback as markets place a higher possibility for a rate cut.
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AUS200 breaking higher from bullish flagFX:AUS200
Weekly – Bullish channel with bearish divergence
Daily – Bullish flag and overbought
4H - Breaking higher from bullish flag - looking for re-test to set longs
Buy AUS200 at 6560. Stop 6520. Target 6660
Overbought and bearish divergence on longer term charts could stifle this move
Good luck!
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S&P500 to have a strong drop soon?Strong rising wedge for the S&P. Could this take a healthy fall back down...RSI implies it is overbought
Also we had a parabolic move up from the lows of December/Jan...with no real healthy moves down for a recovery period on the way back up
Hypothesis: price reaches near ATH to fail at resistant levels. If it price proves to move back down, I think it could make a W shaped pattern before a move back up or complete a right shoulder for a inverse head and shoulders pattern.
Cardano breakout right around the corner ADABTC Make sure to LIKE and FOLLOW
Thanks, LiquidMEX
DISCLAIMER:!!!This is not to be considered financial advice is my personal opinion, always do your own research before entering or exiting trades as i will not be held liable for any of your trades!!!
cad/jpy bearish trade setupCADJPY, bearish divergence formed for selling. price testing monthly resistance area march 2019 84.00-84.10. suspect fall reason seasonal strength expected in jpy pairs soon.
NZDUSD Sell on Pullback (Daily)NZDUSD has formed a sell setup on the daily chart after completing a pullback to the previously broken rising trendline.
In the shorter-term, the pullback aligns with the 61.8% Fib level, which may signal that the recent short-term downtrend may continue.
Zooming out to the daily, we can also identify a symmetrical triangle, which suggests that the longer-term downtrend in the pair may continue further south.
Ethereum Technical Analysis for Swing TradersConclusion for today’s Ethereum price analysis: 168.40 is critical for the price of Ethereum and a breakout above the price level implies resumption of bullish momentum.
Ethereum analysis for today is carried out on the 6 hour timeframe using a logarithmic scale, and chart inspection is from September 12, 2018 to current date.
A range bound price movement is identified for Ethereum and drawn on the chart between 168.40 and 104.42. Of particular importance is the former price level (i.e. 168.40) as it was previously a support level for Ethereum back in September of 2018.
Same support price level presented resistance for price action in the week of January 02, 2019, and also again on January 24, 2019 as highlighted by the blue ellipses. The implication of the above is that the upper boundary of the range movement indicates a change in polarity and/or significance of the price level for Ethereum going forward.
Current bullish trend on the 6 hour timeframe chart from a price low of 84.00 on December 15, 2018 is also important to pay attention to as price breaking below improves the likelihood of testing the bottom of the price range at 104.42.
Retracement of price to 104.42 and consolidation that is confirmed by momentum presents a buying (long) opportunity in Ethereum. This strategy is considered less conservative than if price attempts a breakout above 168.40.
USDCAD Potential Buy on D1Here's an interesting setup in USD/CAD. The pair trades close to a rising trendline support, respected the 61.8% Fib retracement previously and is overall in an uptrend.
Zooming in into the 4-hour chart reveals a falling wedge pattern, which during price-corrections is a bullish sign.
The Canadian dollar is slightly underperforming for the day as oil prices are somewhat lower.
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USD SGD Live Update: Bearish Trend is Not Yet Over...Conclusion for today’s analysis: The minimum expectation for the USDSGD is ~1.33439.
Price action from May 03, 2018 to current date is shown in today's analysis for the USDSGD on a 6 hour timeframe. A top formation that took almost 6 months to complete i.e. between July 02, 2018 to December 27, 2018 is identified as a complex head and shoulders pattern.
Confirmation of the chart pattern occurred on the January 04, 2019 when price action closed below the neckline of the pattern at ~1.36138. The bearish implication of the pattern mentioned above is not yet complete and the minimum expectation for price action is 1.33439 achieved via a vertical projection of distance between the head of the pattern and the neckline.
Any current bullish swing or retracement of the current uptrend should be considered for entry point into a bearish position(s).
Stellar (XLMUSD) Chart Pattern Analysis: Intraday TimeframePrice closing above the bearish channel and also above ~$0.1470 helps to increase the chance of continuation of bullish momentum.
Analysis for Stellar (XLM) for today is carried out on a 6 hour timeframe, with price action from June 27, 2018 to current date.
The symmetrical triangle drawn on the chart lasted over 4 months before eventual confirmation and breakout of the chart pattern on November 22, 2018. Bullish price swing from ~$0.09 to $0.14 broke out of a bearish swing that lasted for about a month and is part of the move to the downside confirming the triangle.
Conservative entry into a long position which also implies continuation of bullish momentum in Stellar would require a break above the current bearish channel (highlighted in green) and also price closing above ~$0.1470 which is used as the upper boundary of immediate overhead supply or resistance.
A break below the lower boundary of the bearish channel decreases the chance of continuation of the bullish price swing from the December 15, 2018 low of ~$0.09.
Ethereum Price Analysis: Live Update
Conclusion for today’s Ethereum Analysis: Price breaking out above $167.10 can be used to initiate long (buy) position(s) provided momentum offers evidence.
Ethereum price analysis for today is presented on a logarithmic scale with the chart covering over 11 months of price action. Bearish trendline drawn on the chart is used to highlight the overall trend in price for the duration mentioned.
Important attention is drawn to ~$167.10 price level as it did offer support for price on September 11, 2018, but currently presents resistance, and hence retracement in price considering the bullish price swing from ~$81.96.
$167.10 and $134.33 is therefore considered in this analysis as the upper boundary and lower boundary respectively for resistance/overhead supply.
A conservative way to enter a long (buy) position(s) is on a breaking out above the upper boundary of resistance.
