Retracement
GBPCHF mehTaking in account that it was able to handle the support of 1.15283 for a while now and by taking in account the trendline making an ascending triangle and also taking in account that it already got out of the triangle but with barely any strength, we may see a retracement to 1.15283 again to gather liquidation (also if you pay attention the STOCH V RSI, the STOCH line its preferable to be at the lowest point if we wanna see a big move which RN its in the middle)
I'm in a long position but I'm expecting for lower to long even more
Is this recent rally a bull rebound of a bear retracement? To make an assessment if the market has turned bear, during the closing second quarter on 29th June 2022, we discussed on the topic “Using S&P to Identify Recession
and on the 19 Jul, 2 weeks ago the tutorial posted here, we studied and expecting this current rebound, topic “Nasdaq a leading indicator of Dow Jones, S&P & Russell”.
In today’s tutorial, I thought of doing a recap between the two videos and explore if the current market and its development, if it is a bull rebound heading to break another new all-time high or if it is a bear retracement?
I have included both the video links below.
Before we get into this topic, please also take some time to read through the disclaimer in the description box below.
Disclaimer:
• What presented here is not a recommendation, please consult your licensed broker.
• Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
Tutorial example:
Micro E-Mini Nasdaq
0.25 = US$0.50
1.00 = US$2
(12,900 - 11,900) x US$2
=US$2,000
(Note: Opposite is also true)
• During the closing second quarter in June, on 29 Jun - “Using S&P to Identify Recession
• On the 19 Jul, 2 weeks ago - “Nasdaq a leading indicator of Dow Jones, S&P & Russell”
EURUSD sell zoneEURUSD is trading at the top of the range and we're observing if it will have enough strength to break above its previous high.
Even if there is a breakout we're not looking for buys!
We will have to wait for price to give us a reversal signal so we can then enter short.
Reading market swingsBasic idea of trading a trend and keeping the daily range in mind when trading.
GOLD UPWARD CORRECTION CONTINUESGold rallied BULLISHLY as predicted in my previous analysis and is approaching the initial target.
This week, We'll get a bearish pullback before the price rallies further to the Resistance/broken support level at 1804 from where we can identify sell opportunities.
Alternatively, if the price breaks below 1762, we'll get to see 1733 initially.
GOLD REBOUNDSGold made a steep decline dropping to the weekly/monthly support from where it bounced bullishly.
The bullish divergence on technical indicators suggests bullish retracement in the coming week.
We can expect a small drop on Monday before resuming the bullish retracement.
⚡️ #BTCLIVE - 29.07 ⚡️⚡️ #BTCLIVE - 29.07
60:40
Bearish:Bullish
I promise I am not a bear!!! The price smashed through the last point I was expecting a retracement. Amazingly it looks like BTC is finally doing what it was born to do and be a store of value and a safe haven during torrid times like these!!!
We are coming up no to the key resistance of the longer term range and it is definitely the business end of the deal. I feel going into the weekend with alot of bearish TA on the cards will likely result in a retracement of pretty epic proportions.
I am usually pretty bearish on weekends simply due to lower volume and generally more retail heavy traders being active. A lot of folks might be getting a little nervous too now they have made some nice and unexpected gains this week so might be happy to take the profit and chill for a bit.
We are looking at a big bearish divergence on the 1 hour which is overbought too along with an exhaustion signal. The POC line is sitting very low along with the Future Pivot which carries more weight as the week nears the close. Orderbooks are looking a little bearish too.
I am thinking that we will be seeing $22.9k in the pretty short-term with a more max pain target of $21k and possibly lower.
There is a bullish scenario, there is ALWAYS a bullish scenario - but if we break $24.8k or more reliably $25k then it is likely we will see the tracking up to the CME gap at $27k+
Volatility is not over I feel so stay safe!
ADTN - Pullback - shortADTRAN Holdings, Inc. stock shows to be oversold on the stochastic oscillator (over 90). Moreover, We notice the presence of a bearish pin bar that is way above the Bollinger band of EMA as well as the 20 ema lagging far behind. Therefore, we anticipate that price will drop in retracement down until a potential resistance level in yellow.
Entry, stop loss... are shown in chart.
EURUSD before ECBToday, we have ECB Interest Rate decision.
We should see a higher interest rate.
However, this won't reverse the trend and our main idea is to look for short positions!
Best case scenario would be if price moves up to 1,0360 and it then leaves a rejection wick.
This will be our entry signal and we will then expect a lower low!
We're not looking for long positions at all! Also, any trades before the news are not recommended!
The rise on EURUSD has not finished yet The pullback on EURUSD continues and it's now moving towards 1,0360 where we may also see higher values than that.
Tomorrow the ECB will announce the interest rate and this will be a suitable moment to see price at our expected levels.
We will be selling this pair only after a confirmation!
AUD/USD Double Bottom Pattern On The 4-Hour ChartHi Traders,
I hope you are all doing well today. It is Monday and the start of a brand new week. Let's smash those trades this week!
Today I am looking at AUD/USD on the 4-hour time frame.
We have an interesting double-bottom pattern playing out.
I say interesting because the second bottom of the pattern wicked quite a bit lower than the first peak. Usually, I wouldn’t call that a double bottom but because of the clear divergence we see across the MACD, it enticed me enough to wait for an entry on this setup.
Notice how the histogram and the MA lines across the MACD are both sloping upwards. This indicates true divergence as we can see that the sellers or the bears have been weakening, so we were waiting for the bulls to come back in and take control.
I have highlighted the neckline in yellow. I wanted to see a break and close above this yellow neckline zone, which we clearly can see. Now I am waiting for a retrace back into the neckline to confirm that this area has been flipped from resistance to support. My long entry will be triggered once we see that retrace.
I have used the trend-based fib extension to find my two targets. Notice on the chart how these two areas line up perfectly with previous areas of support and resistance. Target one is around the 0.6915 price level and target two is around the 0.699 price level.
Remember, depending where you place your entry and your stop will result in your risk to reward fluctuating. I always aim for a minimum of one to two risk to reward. If we can get more than that’s great! But make sure your risk management is carefully monitored. Don’t risk more than needed. There are always further opportunities.
So, let's see what happens with this one. As usual, I like to see lower bearish volume to accompany the retrace, otherwise, this bullish move could potentially just be a fakeout and we do not want to be caught on the wrong side of the trend. We are seeing some green today across the forex board so let's see if we can capitalize on these moves. I usually like to wait for Tuesday before jumping into any positions, but that clear divergence across the MACD interests me. However, if that retrace does not happen then so be it. We move on to the next one.
Trade safe out there!
Enjoy your Monday!
The Vortex Trader
GOLD STILL BEARISH BUT CORRECTION IN PROGRESSDear Traders,
Whilst I am still very bearish on Gold, I see a correction already in progress and will advise we short with care.
Look out for the bigger picture in the higher time frames. I will advise you to see weekly.
Have a profitable week.
Regards
EURCAD RETRACEMENT TO BROKEN SUPPORTEURCAD showed strong price rejection on the 1.3000 support level and rallied bullishly closing above it.
A bullish retracement to the recently broken support can be expected in the coming week.
CADCHF BEARISH CONTINUATIONCADCHF strongly bounced off the weekly resistance zone dropping and closing the week below the pivot.
A break below 0.7470 will open the way to 0.7408 support initially.
If the price consolidates above 0.75250, we can expect continuation of the bullish retracement to 0.7584 and 0.7646 resistance levels.
USDJPY SCALP TRADEWE are scalping a short to the H4 DEMAND. PRIZE is compressing towards the h4 demand making LH & LL.
SHORTS THEN LONGS FOR NZDUSDAccording to market structure its shorts to the point of interest then longs
DXY falling wedgeDXY appears to be in a long term falling wedge. Recently, it's had a steep uptick, which indicates a pullback, but it did successfully break up out of the wedge, and will most likely rebound and continue upwards (the dollar will become more valuable relative to other currencies).
This will take two years to play out, in my opinion. Most likely just after the next presidential election.
Bullish, but a long term pattern
EURAUD PULLBACK TO BROKEN SUPPORTEURAUD experienced strong bearish momentum to achieve targets from my previous analysis and broke the support level dropping even further.
A retracement towards the broken support seems highly likely.
Possible sales positionsWe see a divergent pattern in terms of price in the main trend according to the higher time frames that after the last major bearish wave, we are retracing to the 0.78 Fibonacci level , which can give its last warnings to the buyers, before falling towards the main support areas, and in this case, we can only consider selling transactions when we see (BOS) in the areas mentioned in the chart.
CRO longterm targets.hello everybody.
CRO seems to be at the end of an ABC correction and compeleting C wave.
according to the 100% wave A retracement and 261.8% wave B extention
and these two levels overlaped.
this level is a good support level.
and momentum is in oversold area and pulledback to exit this condition.
after end of correction we can see a yellow target level that i show on my chart.
this level contains three important factor:
1-moving average 200
2-old valid trendline
3-50% fibo retracement level of ABC correction.
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FUNDAMENTAL:
CRO have good fundamental and good news these days.
the most important news was partnership of crypto.com
with qatar fifa worldcup.
and in these 4 5 month we can see good grows in this lovely altcoin.
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dont forget to manage your capital and risk.
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if you take a trade you must set a good stoploss.
(NOTE!!! this article is my own opinion and its not a trade advice.
please tarde on your own opinion and use others opinion to improve your
analyze.)
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so i will do that.please support me and i wish use your experience
and you can help me to improve my abilities.
thank you all.have good days.
Along with retracementIn a general view price after reaching and engulfing the level 0.81000 starts to retracement back to upper level and we don't know when it'll end and return to its main trend so in this return we can enter long position only after breakouts.
EURAUD SELL Price hit the monthly resistance and bounced bearishly.
Expect retracement towards the pivot.
