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USDJPY - Consolidation after Uptrend expectedHi Traders! Here is our analysis: Price is in Strong Uptrend Made one Top then came lower Equal Lows --> First Sign of Bullish Weakness --> Bullish "Shock" As a reaction --> BBs closing their positions --> Consolidation expected If Breakout --> Down-Movement until next Support expected If you have any questions, another Point of View or anything else to share, don't hesitate to comment! Thanks and successful Trading :-)! --------------------------------------------------------------- ***Trade at your own risk*** ***Not every idea is traded by us***
by swissmoneymakers
BTC closed under a Daily S/R - 48k Resistance / 47k SupportBTC has been pumping absolutely wild in the past few days but with no significant high timeframe retracements. The interesting thing to note is how the price was pushed all the way down to under the Daily S/R at 47.1k before finally bouncing back to the mid 47k area. This push down into the Demand zone (A) which was created right above the all-important Weekly Open. The current Supply zone (B) was created from the swing of the high at 48k yesterday. As the price came back down it created a Daily Open for today at (C). This mini range between 47k and 48k is quite interesting and since the Demand zone (A) has been tested but the Supply Zone (B) has not, which tells me the key here is the breakout of either the (A) zone or (B) zone You can draw a range on 47k to 48k if you wanna play that intraday for scalping. Personally, I'm waiting for the breakout and 4hr or higher confirmation of gain of 48k or loss of 47k and the Weekly Open Longs vs Shorts is 50/50 on the retail side so don't let your bullish or bearish bias get the better of you, wait for a key level breakout. I'm also interested in the forced push down of price to under the key S/R at 47.1k for an overtly bearish looking at the Daily Open and flushed most of the longs out all the way to the Weekly Open.
by TrendmasterOfficial
NZDCAD Analysis - March 27, 2022So I did a little charting and (top-down) analysis on NZDCAD. It's not a currency pair I am trading personally, but I used it for practice purposes only... NZDCAD Analysis - March 27, 2022 Starting from the Weekly timeframe price has just retested a Supply area (0.88880 to 0.87690). I also can see an EQL looking at the current swing low that equals the low of March 11 of 2021 at 0.83425. Scaling down then to the Daily timeframe price never closed above the 0.87690 level (low of the weekly Supply area), only wicked trough attempting to make a higher-high but never did. On the 4h timeframe, I spotted another Supply area (Green) within the Weekly Supply area (Gray). Although the 4h timeframe shows Bullish bias looking at recent price action by breaking structure to the upside, one can clearly see that price reacted pretty accurately from those "intertwined" Supply areas and has started to make a lower-high since. Also, when looking closer, I spotted a Demand area (Purple) that was the last indecision candle before the impulsive move right into the Supply area (Green). Thus leaving a huge imbalanced price gap behind to fill. Now that I have a pretty good idea that the market bias is (turning) Bearish, aiming to close the imbalanced price area, I will go to a lower time frame and set out some key levels for possible shorts. From the 1h timeframe perspective, we are ranging. I marked out some key levels on the chart based on this timeframe and then refined those levels on lower timeframes, keeping in mind the levels, structure from the higher timeframes. When combining all the timeframe levels it looks like this. In my humble opinion price will go for the liquidity below since there is also an in-efficient price action below it, with above that area an imbalanced price. Looking at the price action from the range high, it looks pretty efficient making those lower highs and lower lows, respecting each lower high on the way down. That's why my focus is more on the imbalance to the down instead of the one on the upside. I think the price will go for the refined zone below eventually because: - Major trend is a downtrend on higher timeframes - Price made a huge impulsive move to the upside and tested a weekly Supply area leaving an imbalance price area behind - Price has retested and rejected multiple times the weekly Supply area where the big impulsive move from earlier ended and never closed above it - The substructure of the higher timeframe "swing" is making lower highs and lower lows on the lower timeframe - There are multiple imbalanced price areas to the downside
Short
by CryptonianTrader
2
We are still in a rangeIt's my personal opinion not a call from a specialist. Do your own work then invest (or not ). I think buying low in the range and sell high in the range is the best move for short term, if you wanna play for long terme we have two move. Buying low in the range or wait a break in weekly and then buy, you will loose an certain % but it's less risky. Anyways don't use all ur cash because it can break low or high, nobody know. Hope my english don't burn your eyes and take care about yourself and your money, i'm not a pro so it's just an idea of a noob trader.
by Zenosse
Bitcoin is starting to be undecided: what's next? Today is Sunday again, and this week has not been the best one we could've seen. We started pretty chill until we rallied 42.5k$ and then rejected the next day. Then we ranged at the same prices, with little spikes. So, what's my opinion for next week? I think that a short-term bearish scenario is more likely to happen now, as we're holding above 40k$ for shorter and shorter periods of time. I'm not saying a bullish scenario could not happen either, but that won't happen unless we break the structure and go at least above 43k and set a higher high. My outlook is that we're going to break this small range on both sides, and set a high at around 40.7k$ and a low above 37.2k$. I know I've written a shorter update than usually, but sometimes price action is just not the best. Anyway, I hope again you enjoyed the update!
by config_json