Continuation of selling of SPXAs we confirmed the trend reversal for the moment, we might have possible two scenarios:
We might have similar push up during the night before continuation of a drop
Secondly, if we get higher prices during the night or at NYSE open, we might continue our way down until we got extended.
Trenddirection
EUR/UDS |HTF Analysis| Tuesday 19 September 2023EUR/USD
-Still showing us that wants to move lower (shifting bearish)
-EUR/USD broke previouse PROTECTED HIGHER LOW (that can potentialy mean that we will be bearish in a long run or a htf trend direction is changing)
-Stay with the trend
-Look for confirmations on ltf
Resistance AreaThis analysis depends on the area of the intersection of 3 indicators: EMA100, Ichimoku cloud, and the leg of the downtrend, and the price is often expected to rebound towards the completion of the decline.
HS in XRP chart 2h FAST!XRP is doing an HS, it still does not get rid of the neckline but it could be interesting for a short or Long in case it does not completely undo personally I am looking for a Long in XRP.
I will wait for the bulls or bears to determine where to go, the indicators seem to become more bearish on the 2h chart
MACD retaking more strength to the downside
The RSI had a large bearish divergence and now the short RSI is having a small bullish divergence (Pullback)
And the bullish idea would be that it manages to withstand the attempt of the bears
Adding that the pullback is testing the SMA50 days
The Main three categories and directions of TrendTrend is the direction of the market. In other words, it is the direction of peaks and troughs that constitutes market trend as the market generally move in successive waves (zigzags) with fairly obvious peaks and troughs.
The market moves in three directions:
1. Upward trend or uptrend (bullish) – Series of successively higher peaks and troughs – “go long”
2. Downward trend or downtrend (bearish) – Series of successively lower peaks and troughs – “go short”
3. Sideways trend (trendless) – Series of Horizontal peaks and troughs – (a third of the time the market moves is flat/horizontal) – “stand aside”
Major Trend – Anything over 6 months – Dow considered years
Intermediate Trend – It is a correction in the Major Trend - Three weeks to three months as per Dow’s
Near term Trend – It is a correction of the Intermediate Trend - Less than 2 or 3 weeks as per Dow’s
