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Multitimeframeanalysis

A New week and Eu continues the descent 💎Eurusd is currently jumping around inside a tight intra-day range. Eurusd appears to be rejecting our 4Hr S/R Zone and maybe EU will turn into another textbook opportunity to sell a resistance zone in a downtrend. We have bearish momentum and a wick to fill on the previous week's bottom wick. The previous week's bottom wick currently stretches 45 pips that we can easily go fill. London Open appeared to want to drop to the downside but the market was not ready. For New York we have returned to the top of the range and the bulls are struggling. The NY Open 1Hr candle attempted to make a move up but ended up leaving a wick and closing back inside our 4hr range between 1.082 4Hr Zone and 1.0806. A tight knit 14 pip range possibly distributing to the downside. Another clue is the 4Hr candle that closed 1Hr ago, failing to close above 1.082 4Hr S/R Zone. The Daily Candle has been bullish but the upside has been limited due to our 4Hr 1.082 Level. (Sellers are protecting this area) The Daily Candle keeps testing buyers as it threatens to flip at our 4Hr Support level 1.0806. This is where the market opened at Asian yesterday and if 1.0806 4hr zone doesn't hold then we will be looking towards a retest of 1.078 1Hr Zone in which we would be filling the previous week's bottom wick with momentum. Momentum that has been carried over from the previous week. Looking for this price 1.078 soon or we may range longer and will have to re-evaluate.
Short
by ShrewdCatfx
BITCOIN: bulls or bears? Vote in the comments!Looking at the Monthly-timeframe graph on the left-hand side of the screen, it can be inferred that the price has been able to reject the crucial area of resistance highlighted on the chart that lines up with the 50% Fibonacci retracement level drawn from the top to the bottom of the bearish rally commencing in April of 2022. Zooming into the Weekly-timeframe chart, it can be observed that the price is approaching the FWB:25K region of previous resistance now acting as support. Here, we are awaiting a "bounce or break" action before plotting the next game-plan. Are you bullish or bearish on BTC/USD? Will we be witnessing another crash or we should get prepared for heading to Jupiter? Do not hesitate to share your ideas and thoughts in the comment section below!
COINBASE:BTCUSD
by Investroy
39
Keep it Simple🧧 4Hr Resistance Zone in a Short Term Downtrend ₿It is Safe to Say that after looking at the Weekly chart, Bitcoin will likely see more downside to come. We can observe Bearish market Structure on the Weekly Chart. A LL on the second week of April(27,566$), a Lower High on the first week of May (29,236$) and now a New LL (26,931$) on the Second week of May. Price is stair stepping it's way down. Gracefully. But with that said we may see a fierce drop to come as we have seen in Years Past on BTC. We can recall that when investors and institutions dump BTC they do not hesitate. The Daily Candle is About to close Bullish. However we can at least anticipate a Lower wick and bounce off our 4Hr Zone 27,430$ On Monday of this week Price respected our 27,600$ Weekly S/R Level. Price in Medium Term has eased off our June 2022 30,000$ Weekly S/R level and is pulling down. With clean traffic to the left on the 4Hr Timeframe I can visualize price dropping once we return to 26K again. Our Next Stop on the Daily timeframe will be 24,374$ . For Buyers we are at the extreme lows of our Daily Range between 26,700$ and 30,500$. Price is testing the extreme Lows. Will Buyers step in to protect these Medium Term Lows or will BTC print fresh lows alongside the Stock market as Inflation stays steady above the Fed's 2% Target. I think at the Bare Minimum we can anticipate a Short term range between 27,600 Weekly S/R level and 26,700 Daily Level. We are selling the top of the range. Not Financial Advice For Educational Purposes Only. This is Price Action combined with Multi-Timeframe Analysis.
COINBASE:BTCUSDShort
by ShrewdCatfx
Stubborn EURUSD protects 🛡️1.076 Daily Level FOMC Meeting Minutes is coinciding with a touch into our Daily Support Level that has held since last Thursday. It's almost been an entire week since the decline has been halted. Yesterday we created a publishing about a potential double bottom, but we may have jumped the gun so to speak. The market may have needed more time to accumulate long orders and trap short liquidity. The Market appears to keep banging its head stubbornly against our 1.076 Daily Level. This morning thus far we could observe a volatile 40 pip range between 1.0795 and 1.075. Day traders have been having a hell of a time. This market reminds me of the FOMC Interest rate announcement about 3 weeks ago. It was a volatile range and turned out to be the turning point in favor of the bears for Eurusd. The market used FOMC as a turning point recently and I think we may see another occurrence as the market shakes out Buyers and Sellers with this volatile price action. Similar to the CPI news shaking out weak sellers 2 week ago, this market may increase. The price is low but the Sellers don't look necessarily persistent in their effort to sell into the 1.076 Daily Level. The Buyers on the other hand are happy to go long at our Daily Support Level as it offers great risk to reward. Price is has made a new low during London but was quickly bought up at our pre-planned 1hr support zone 1.0749. I liken price to return to our 1.08125 Daily Level as we continue to see a volatile range and fight in the 1.07's for Eurusd. I've struggled in my scalping of Eurusd this week and attribute it to psychology. Trading psychology is a very large part of trading and requires constant attention. It must be managed properly and is a skill just as developing a profitable system that suits your personality. It takes time to understand your weaknesses and strengths as a trader. This week I've had a particularly difficult time managing my weaknesses. Time and Patience is the greatest warrior and so I will come back stronger at a later time. Safe trading.
Long
by ShrewdCatfx
Eurusd : Double Bottom [ Daily level 1.076 ] ⛽There is a good probability that Eurusd will create a double bottom structure at 1.07597 on the Daily Timeframe. Here on the 1Hr we can observe a Low formed at the bottom of structure and is bouncing hard. I am anticipating a sort of double bottom structure here on EU. EU is flat after PMI data was released. Data was expected to be generally good and it turned out to be mixed. -This news release lines up with a retest of our Daily Level 1.07597 -The recent 4Hr candle just closed at our 4Hr Support/ Daily Level 1.07597 with no bottom wick signaling to me that there is profit taking for the bear occurring. -After 1Hr of Price action the current 4Hr candle didn't hesitate and has just gone straight up. -The bottom wick for the new 4hr candle thus far has been very minimal. - The 1Hr Candle just closed bullish at our 1.078 1Hr Zone -Often times at the 7am PST candle you can observe a continuation of the previous trend . ( In this case confirmation of a bounce off our Daily level 1.076 -We have clean traffic on the 1Hr chart back up to 1.08 where we may run into some trouble in the short term More Analysis: I bought the low price around the time when the new 4hr candle was opening and earned nearly 1% on the account. I don't necessarily think going short at Support is a wise thing unless you really know what you are doing.
Long
by ShrewdCatfx
Going with --> Gut Feeling/Spider Instinct🕷️/Sixth Sense The Weekly Candle closed bearish last week. This created the second weekly bearish close in a row denoting bearish momentum. 1.0866 Weekly S/R Zone is no longer relevant. Our Relevant weekly level's now stand as -Weekly Resistance Level : 1.1024 -Weekly Support Level : 1.06647 Our Daily Level's stand as - Daily Support Level : 1.07597 - Daily Resistance Level : 1.08739 I think it's reasonable to see some selling pressure to start off the trading for this week. Or may we at least anticipate a double bottom sort of structure and retest of our 1hr Zone 1.07802
Short
by ShrewdCatfx
3
USD/CHF: the best region to go short from has been identifiedFirst of all, taking a look at the Weekly-timeframe graph, we might observe how the price has succeeded in rejecting the crucial area of resistance that aligns with the 38.2% Fibonacci retracement level. Zooming into the DAILY TF graph illustrated on the right-hand side of the screen, it can be identified that the price has printed a long wick by rejecting the local area of support, and that it is headed towards the upside. Since our long-term view remains bearish, we will await the price reach the key region highlighted on the graph and contribute to forming a nice Top Pattern formation before we look into going short and targeting the Weekly TF Lower Low level.
Short
by Investroy
19
Exhaustion Ticket 🎫 << EthereumEth is currently trading in a tight raneg between 1874 Weekly Resistance Level and 1775 Weekly Support Level. After taking a Look at the monthly Candle it appears Eth may be out of Gas. April's 23' Monthly Candle closed in a quite exhausted fashion. The Top wick of April's Monthly candle is 5 times larger than the body of the candle. So far and through the first 2 weeks of May, we pushed up but price didn't sustain it's trajectory as it currently sits at a -2.58% difference on the Month. Bulls haven't done much which only confirms our previous thoughts. 1775 Appears to be rather resilient for the Bulls but I value the monthly timeframe over the Weekly timeframe obviously. We are seeing exhaustion at our 1831 4Hr Zone. May we revisit the Lows of the Range once again? Target for Shorts being 1795 Daily Level.
COINBASE:ETHUSDShort
by ShrewdCatfx
Lower Lows.. More Low Prices to end the Week? 🚠 Eurusd Eurusd is going down. Will it continue to go down is the question? We are at the Extreme Daily Level 1.08392 of our larger Range. The Daily Candle just printed almost exactly at our Level. Not above nor Below. Bear Market Structure still Maintains itself So long as a 1Hr candle doesn't print above 1.0872 on the 1Hr Timeframe. Unemployment Claims Data is expected to be positive for the USD during the Next NY Session. However the Unemployment Claims data since February has been increasing more and more as more people file for Unemployment. Not a good sign for the Workforce. Maybe this is is more of an excuse to buy our Reserve and Safe Haven Currency .. the U.S. Dollar. The News release may be the catalyst for a continuation of momentum to the downside + Another Lower Low printed in Market structure. The price I like for a weekly Bearish target is 1.07925 4Hr Zone Our Bullish Eurusd target for the end of the week is 1.0872 Daily level. We have our Level's plotted and will use Technical Analysis to create good Risk Reward Ideas. The market is random after all and we can only use our form of technical analysis to manage risk.
Short
by ShrewdCatfx
1
Unemployment Data was a Catalyst for more Eurusd Downside 🚅The Weekly Candle is now plunging down into a Free Fall. Unemployment Claims Data was poised to improve with 10K less people filing for Unemployment. The data was better than expected as more than 20K less people filed for unemployment in comparison to the previous period. In previous posts I talked about how this may provide a continuation for further downside and more Dollar Buys to come (More Eurusd Sells to come). This occurred and so now the question is if Momentum will continue to help Eu Fall to the next Daily Zone at 1.07598. Our Weekly Target was just hit at 1.07925 4Hr Zone but price may keep dropping hard. -The Weekly Candle last week Printed bearish below our Weekly S/R Zone 1.0866 - The first two days of this week saw Euro buyers to not be able to sustain themselves - Price was gathering liquidity setting up the move for later in the week which we are seeing now - Price did a perfect break and retest at 4Hr level 1.08462 and returned back to the lows at 1.08150 1Hr Zone just prior to news -Looking at the 4Hr Timeframe we can at least expect an 8ish Pip bottom wick on this NY 4Hr Candle -Look at the sell pressure, price keeps dropping and I'm looking towards 1.07592 Daily Level to end off the week from here
Short
by ShrewdCatfx
1
Shaking it up 💵 Can you close Below 1.08392? EurusdIt took a Few Days before Price was able to punch out a new Low after Printing an Engulfing Candle on the weekly timeframe last week. The candle engulfed almost 5 weeks of previous gains by Bulls. Price corrected to the S/R Zone 1.0866 and pulled back from our Quarterly Highs around 1.103- 1.108. The Next Weekly Level sits a 1.06650 which currently sits 170 Pips away. We do have unemployment data during the second to last NY session of the week tomorrow. We'll see how the American workforce is doing. This news release can be a catalyst for a continuation in trend to the downside. Our Last Daily Support Level that I can see being tricky will be 1.08392. If the Daily Candle can close a solid candle below there, we can expect more downside to come. Maybe it can also act as a good Break and retest level for Short Entries. But first we must observe the Daily Close. One guy has a swing entry from 1.086 and another guy has a swing from 1.082. Both Short Entries. Both are Good traders. All of the gossip and panic about institutions dumping the Dollar. You would've missed this 200-250 Pip Short trade from the Highs that coincided with hawkish FOMC data. Thinking there may be more to come. We have creased below all our Daily Level's -1.08607 Daily Level created on Monday -1.0853 Daily Level created on April 11th -1.08392 Daily Level created on April 3rd The next Daily Level sits at 1.07592. A good technical indicator for the Daily candle is it closing with a larger body then a bottom wick. We would like to see bears protect 1.08392 What is concerning is that we may have alot of shorts piling in now. Are they Late? We will see. The market is not going to feed everyone so we may see a hard pullback up to 1.08742 Daily Level once again Unemployment Claims has been climbing since February 7th of this year. It is expected to be a small improvement over the last period. If the Daily Candle can pull back up and close above 1.08607 Daily Level that was created on Monday, Definitely Buys on EU here, good RR back to Top of our Daily Range , first back to 1.089 4Hr level We would want the bears to Ideally respect the Break and retest Level 1.08462 on the 4Hr timeframe. The 4hr Is about to close and is closing below 1.08462, good for bears
Long
by ShrewdCatfx
2
USD/CHF: multi-timeframe bullish outlook. What is the next step?Deriving from the Weekly-timeframe graph on the left-hand side of the screen, the price is headed towards the crucial area of resistance lining up with the 50% FIbonacci retracement level highlighted on the chart. Zooming into the H16 and lower timeframe charts, it can be inferred that a crucial area of resistance has been reached and the price is attempting to break out of the sideways-moving range it has been consolidating within. If the local region of resistance gets penetrated by bulls, then a small re-touch will be awaited before entering long positions and aiming for the zone plotted and targeted on the Weekly graph.
Long
by Investroy
27
Riding 🏇 Manufacturing Data 🎯 2%+ Risking --> [ .30% ]Last Week the Weekly Candle closed Bearish but with no wick Last week the Candle closed below Weekly S/R Level However, the candle closed in between our two Daily Level's Manufacturing Data Was Expected to be negative for the USD Red Folder News and in theory good for EUR Strength Price had been going up on EU since the new Weekly Candle opening yesterday. From Experience I was anticipating an early in the week push up away from our previously mentioned Level's. The Red folder news was a catalyst for a continuation of momentum. From here we can anticipate a continued early in the week push or Consolidation structure as NYSE Open falls back to our mentioned Weekly and Daily Level's. I can see price holding these level's for a few sessions because the Bulls have a great interest in protecting these levels. Or else EU will fall back to 1.076 rather easily Weekly Target for Bulls if we hold these levels is 1.0948 More Analysis: I observed that London Session had a nice bullish breakout. Price had pulled back for the new 4Hr candle leaving a wick to fill in momentum and additionally to create a bottom wick for the new 4hr candle. So it could blast off like a spaceship away from our previous mentioned levels. Zone to Zone. My TP was at next technical level 1.0889 1Hr Level
Long
by ShrewdCatfx
Believe in the Gods! -->🔱--< But do not count on them for help Dollar Bulls Take the Win? We have dropped below our Last Daily Zone at 1.09219. I have been talking about dollar bulls Since we had FOMC data coincide with our extreme highs at 1.1095. A Coincidence? I thought this may be Suspicious! And it turned out that way. That was a good tell for the beginning of this descent. FOMC was last Wednesday and dollar bulls have blessed swing traders with 190 Pips in 1 Week. Everyone says EU is Weak in comparison to the # of pips it gives to most other pairs... It Doesn't give that much , heh 😉. It Respects level's very nicely! Very clean price actionnn. From a Technical Standpoint.. As Long as we stay below 1.09211, only sells for the rest of week. The Price I like are 1.0897 as the next Pit stop. Ultimately with Friday's daily candle I'm liking 1.0866 Weekly Level as mentioned in previous publishing's. Also I like the Daily level just beyond that at 1.08535. As long as NY and our last remaining 4Hr Candle prints below 1.09219, Sells are fantastic. I would prefer that we waste no time and close below 1.09112 4Hr zone. Trading : Trading today went quite well. Looking at my data.. my Thursdays are typically good. --<< I've seen that remark impact my trading psychology before. The brain is a wonder. Managing trading psychology is a large part of trading. Given that I am profitable, I still cut my winners a bit short sometimes. Why? Out of Fear. Complicated.. But for now we must stay consistent and discplined to the system. the trading plan. 3 Setups today.. The First one I ran because i was scared and closed for B.E. It would've been a nice +5 Pip scalp. The Second was a great. Just closed a little early. The third was a great! Closed a little early once again. I can complain because green is green. Profit is profit and we must learn and move onto the next day. On Thursday's.. 1. The Market sets itself up early in the week. By the time Thursday comes around, the weekly candle is ready to extend itself in the preceding direction from Monday/Tuesday Etc. 2. New and Struggling Traders are Tired and Exhausted from trading since Monday. They begin to make mistakes and become sloppy with their execution. Leading to larger losses than are necessary. I have been there.
Short
by ShrewdCatfx
GOLD (XAU/USD): get ready for the short-term bearish runConducting a multi-timeframe analysis and taking a look at two major timeframes - the Weekly and the Monthly - we might observe that the price has reached a very important level of resistance (both technically and psychologically) and rejected its borders. Although the long-term sentiment remains bullish, we are expecting a short-term drop and eyeing the area of previous resistance now turned into support that is highlighted on the chart as our initial target.
OANDA:XAUUSDShort
by Investroy
27
[ CPI ] : A Catalyst for Optimism? 🏳‍🟧‍⬛‍🟧- The Weekly candle pulled back up after creasing last week's low - The Daily Candle yesterday closed in between our Daily Level's 1.09715 and 1.09495 - This was good for bulls as I mentioned because we closed above 1.09495 - Either way Eurusd was still technically inside our overarching Daily range between 1.106 Daily/Weekly level and 1.09495 Daily Level - CPI Coincided with a Bounce off Daily Support at 1.09495! How Beautiful. I mentioned this occurrence in my update on my previous 2 Posts. CPI decreased signaling optimism for markets. Inflation is decreasing and is on a smooth downward projectory. -Now will we observe a continued change of character with CPI data as the catalyst. We reject our lower prices and bottom part of the range and go back to 1.106 Daily/weekly Level. -Our first pit stop to the upside being Monda's Daily Level at 1.10226? -Price is currently at . If the Daily candle closes like this I say yes. But we must observe how the daily candle closes and if there is a follow through after the Initial bounce from CPI on the 1Hr TF. -The 4Hr Timeframe closed beautifully rejecting our Support areas below + We must observe if the 4hr zone which coincides with our daily level at 1.09715 can hold for more upside + We must consider that we often see a correction of news price action. It can take 2-3 Hours, 1-3 Trading sessions , or 1-2 trading days. We would observe a correction down to 1.09456 More Analysis: Trading went well as I earned profits with reduced position size due to increased news volatility. I made a few mistakes but overall I can't complain with a +.65% profit on the session and and similar +.60% gain during yesterday's Asian Session. It makes up for the tough trading Day I had on Tuesday and plus some. I do want to learn from my mistakes so I will be doing some further reflecting .
Long
by ShrewdCatfx
EUR/USD: a detailed multi-timeframe examination of the pairHaving conducted a thorough MTF analysis of EUR/USD, the following observations could be made: Weekly: as it can be inferred from the Weekly-timeframe chart, the price has been shooting wick candles and failing to break above the major resistance highlighted on the graph. The ongoing Weekly candle is looking massively bearish, and if we get to have a such impulsive closure, then the price might be experiencing a further decline. The 50% Fibonacci retracement level aligning with the price mark of 1.08 might be the next potential region the bearish rally is leading us towards. Daily: zooming into the Daily-TF chart, we might observe that the price has penetrated through the ascending trendline with success. This add up to the list of confluences backing our bearish bias. 16H / 8H / 4H: finally, levelling down to lower-timeframe graphs, we can plot a probable entry region and have eyes on it for SELL executions. The area of 1.1 combines two confluences: the 50% Fibonacci retracement level derived from the recent impulse and the descending trendline pictured on the chart that connects two previous tops. On the fundamental front, we have to keep eyes on the economic news - US Core Inflation Rate and PPI MoM - due later today and tomorrow.
Short
by Investroy
23
Are Crypto Bears in Denial? Eth 🌄Is this the Bull Run we have all been anticipating? Or Does Price need more time to accumulate above 2018 Highs. Ethereum has been trading in between 1942 Daily Level and 1785 Weekly Level for nearly a Month now. Price has spent 70% of the time inside this range. It spiked to the upside and stayed above the range for a week as some buyers Took Profit and shorts came in to flush out late longs. Price printed an engulfing candle on the Weekly Timeframe as price retreated back into our 1942 to 1785 range. We'll see if this bullish movment can sustain itself.
COINBASE:ETHUSDShort
by ShrewdCatfx
Bitcoin is the Answer? The Week Ahead [ Bitcoin ] ₿Price is currently in between our Weekly Level's Support - 27,592 $ Resistance - 30,319 $ Price Is currently in between our Daily Level's Support - 28,857 $ Resistance - 29,540 $ Price Appears to be closing above our Daily Level 28,857 which is a Win for the Bulls. The Bulls are also happy that the weekly candle appears to be printing a larger bottom wick than a top wick. This Bottom wick is also rejecting our Weekly Support Level at 27,592. Zooming out we can see that Bulls are also happy that price has been printing Higher lows on the Daily Chart since the 3rd week of March. The Bears are happy that the Weekly Candle appears to be rejecting the 29,540 $ Daily level from the Previous week. The Bears are looking for Pullbacks to Medium term 24,310 and the Longer term targets being 10,600 Monthly Level. I can observe Bears being content with holding shorts as long as price holds below our 30,319 Weekly Level that extends back to June 22' 30,319 is a S/R Zone that held as a Solid Support during the recent Bull Run to 69K. Price held Support at this S/R Zone (30,319 $) during Jan 21' and July 21'. This is a Major Key Level (30,319$) for Shorts as I can observe price going back up to 39K rather easily if price does not hold here.
COINBASE:BTCUSDLong
by ShrewdCatfx
Would like to be proven wrong Bulls! Eurusd 💶We have printed two Bullish Monthly Candles back to back. The first week of this current monthly candle for May 23' has closed as an indecision candle. I am gravitating towards the Bull side but would not be surprised to see more of a sell off after the May FOMC decision The FOMC decision to raise rates by 25 basis points coincided with our extreme highs of the Year around the 1.105 Weekly Level In a way I want to be proven wrong on the Sell Side for EU. I want to see Buyers stay strong around our extreme Highs here in the 1.10's and not be phased by a short term descent in price as FOMC price action settled after the initial announcement. I would like to see buyers at 1.09718 and 1.09480 Daily Level's be taken out before any more of an ascent occurs. The Price I'm looking for is 1.09176 Daily Level. To begin the week before CPI data on Wednesday I will be looking for price to pullback but will be happy if proven wrong instead with price displaying a quick ascent back to 1.1095 and beyond with CPI numbers.
Short
by ShrewdCatfx
Buyers want 1.1024 4Hr Zone Holdd.. before potential Avalanche ⛄Scalping, Scalpingg. Has taken my heart. Discipline and Patience. Aggressive when it times to be aggressive. Fearless when it's time to be fearless. Trust in thy system and process. And Gold to be attracted to thy pocket with time and accumulate in ever increasing quantities. Will bulls hold 1.1024 4hr Zone? Or as the Daily candle flips bearish at 1.10239 will bears take us back to Support on the daily timeframe once more at 1.09718. 1.10148 Current Daily Low being the current Daily Low --> 1.10148 is a 1Hr Zone and our last potential Support before I see Sellers taking over once again. The 1hr timeframe and 4hr timeframe have clean traffic to the left hand side and we should mirror those as we go back down. CPI on wednesday will most definitely shake things up. Early in the week we have seen the market be proped up by Asian session buying. Will this buying pressure be sustained? Bulls + Monthly Candle is Bullish + New Weekly Candle gapped up and is Bullish + Friday Daily Candle Closed bullish + the first 1hr of our new 4hr candle jsut closed Bullish above 1.104 + 4Hr market structure is Bullish + A bullish Asian session to begin the week. Price has been consolidating since London Session open with 1Hr candles printing in a tight range +De-Dollarization appears to be more evident than ever Bears the 9am GMT 4hr candle closed below 1.104 4Hr Level Price is still holding steadily below 1.10590 Weekly Level Price is leaving a Top wick appearing to reject Daily Level 1.1059 The weekly candle last week printed a Lower Low and a Lower High on that timeframe.
Short
by ShrewdCatfx