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Retracement

GBPCHF on a short term retracementHello, there traders. Last week GBPCHF was very bullish and we got to see higher highs with the Lowest price being on Monday and the highest on Wednesday. We can see price broke the Orderblock on the High of the week and got to retest it on Friday. This coming week we look to continue buying and the bulls are still strong as they look to push the price up to 1.25800. At this level, we anticipate looking for sell entries since the price on the larger time-frames is on a downtrend. Like if you agree.
by El_Chapo_Jr
understand the CRYPTO market from the 10% view ditch retail PT 1here we have the total crypto market cap chart at first glance many will just see a "pull back or simply an engulfing. first thing retail will draw is try to call a random bottom without any price action to follow only hope or for the slightly advanced they will try to find some fib and use a random high to open. WRONG WRONG WRONG looking at the rules from the chart the number one thing is that higher tf prices must and always come exactly or under an open this is law u can look on any time frame and draw a simple line from a wick and it will match up exactly or very close to a previous open balance of the given trend ! why is this ? because large funds or "they" must always pair orders. it is key to understand that large funds banks, prop firms, are naturally net long so the only way the can get in and out and keep good returns is by selling when retail buys, and buys with retail sells. and like mentioned before these buys or sells coming at a previous open. reason being " they are re-entering their original position to finish a move. or in a "pull back" scenario they are booking profits meaning that they are closing large orders automatically taking the other side of retail positions causing a dip in the market. this how wicks are formed WICKS ARE NOT A REJECTIN OF PRICE! this will be explained shortly lets think about the facts of the market and the conundrum retail logic has: fact:1 90% OF RETAIL TRADERS LOSE MONEY fact2: 80% of free content and 70% of courses are just teaching you the same recycled garbage "support & resistance " "supply & demand"(s&d zones is literally s&r with lipstick) harmonics, elliot wave, fibs, CANDLE STICK PATTERNS, TREND LINES or worst of all the "break out trader" Now working off of these key 2 facts lets paint a picture of a world where 10% win and 90% lose first let me preface this by saying that yes all of these pattern can be found on the chart but all of these patterns have one flaw they always leave a gap in understanding how price is delivered, and leaves traders to take mid probability guesses at the end of the day. this is not to say that money is not made off these concepts im simply pointing out the error in this approach to a market so lets dive in. if 90% traders lose money and 70-80% of trading content are these retail concepts, then it is safe to assume that all traders are fundamentally trading the same patterns and if large a majority are trading the same patterns shouldn't that mean a larger percentage of traders make money? yes indeed but this is not the case for a number of reasons REASON#1: these patterns are too simple and easy to trade any body can draw magical support and resistance lines. do you really think large fund traders are opening their charts and finding 3 wicks marking a line saying this is support and resistance ? i think not if trading was that simple and easy everyone would make money but once again we know this is not true. REASON#2: these pattern dont give a real understanding of the market or how would large funds enter exit or book profits. at best s&R /s&D just gives you areas of accumulation, and cant tell you when price should move or even gives signs of price getting ready to move instead the trader is stuck on the side waiting for a "rejection" at a magical line they drew on there charts. how can you understand price from this logic. then for the times traders enter off of a "rejection" and lose that given trade their best reason behind why is that the s/r area just failed or "broke out" in the opposite direction. this lack of understanding/wishful thinking leaves traders to believe that the markets are random and price has no set rules. when this is simply not true. if price was random what will keep it from falling to zero or shooting to the sky at any given moment. there is always rules, structure , and control in every market. REASON#3 : you cant gather accurate data based on a random outcome if i was to ask any trader what is the probability of there given support line OR the probability of a given candle stick pattern such as the a bull/ bear flag they couldnt answer this question. this a major issue without accurate info for your case study you cant improve on your strategy. you cant find high probability set ups. then we all know what happens after s/r isnt good enough because their lack of understanding ... INDIDCATORS REASON #4: all retail logic is subjective with no hard set rules of how price should move or high probability outcomes of what price is expected to do REASON #5 INDICATORS ARE LAGGING: most to all indicators are lagging indicators meaning they only print a result or show "divergence" after price has showed its hand so while retail has 10 different indicators because there logic doesnt help them predict the market or understand price action. they use lagging indicators that FOLLOWS AND PRINTS AFTER PRICE. how ironic is this , most people think that crypto is too volatile and random and you need indicators to help make decision or where price is headed this is simply false if you can see the set up in real time you will get the alert before any indicator. not to mentions 9/10 the traders given indicators doesnt always give the same signal. so what do you do when you have an price at support, macd alerting a sell, an evening star formed (BULLISH PATTERN) and a rsi saying overbought? see how this can be confusing and leave you with no clue what to do. even then what happens when price is showing you bullish behavior while all of your indicators are flashing sell, and you end up taking a sell to lose the trade because you believed in the holy grail indicator set up. By now you should be able to see the huge problem with this approach to the market. so now lets explore my "theory" or approach to the market and see if i can correct all these problems WITH NO CONTRADICTIONS 1. the market is not random at all if the market was random there would be no way to profit on a mechanical level 2. the market is a living creature. 3 just like humans the market has habits and rules it must follow to live 4. there is always somebody in control & THEYRE TOO BIG TO HIDE THEIR FOOT STEPS! lets dig deeper before we start lets remember the natural law of polarity. if one thing is true then in turn the opposite must be true. simple if then statements should equate to one statement of truth with no contradictions. like mentioned previously there is no way a market can be random how in the world would hedge fund be able to offer a set rate of return in a random market. who would put such large sums of money in a casino like environment. with this understanding there should be key things or signs to give us a high probability in which way the market would move, and their is exactly that. (we will get to this in part two) So if the markets are not random then we should be able to see signs or repeatable patterns. this we know is true ie candle stick patterns. expanding on this belief this must also mean the market has habits just like any other living creature these habits easily identifiable once we look for them. next the market must follows rules to live this idea is backing of the thesis that markets are not random, in order for anything to survive it must have some type of discipline. Lastly their is always somebody in control and "they" are way to large to hide their footsteps. where is the proof for this?? ex#1 if you open any chart of your choosing on any time you and mark all wicks you will quickly realize that all wicks are exactly or very close to an previous open on that tf. this is most easily seen on higher timeframes (pt2 will show many examples) as stated in the beginning the reason behind this occurrence is that the people or algo thats moving price loves to get back in at previous opens of large moves or opens right before the " break out". if you take the time to go on your charts you will see its always been there. this is true for reversals as well but that wont be covered on this post for now im laying down the foundation. another reason for price to come back to previous opens is that this is the easiest way to pair orders and 9/10 at these key open levels retail will have limit orders making it easy for "them" to get out/ book profit. ex#2 if you take a look you will see that crypto always move during london session with the low almost always coming in within 3:am then a pull back / reversal at 5:am to continue into ny open at 7/8 am if you open any chart you can clearly see the low or high of the day being set around 3 then some type pf pullback/ reversal to continue with original move at 7/8 am with the high/ low of 7/8 am NY SESION staying in tact for the rest of the day. also if the pull back didnt happen by 8 most likely at 9:00 am it will occur. now the reason is due to the natural way funds flow in any market london is the most liquid session so traders are able to move price then from 8-11 am is an overlap, which will give a reason for price to pull back/ reverse allowing ny traders to enter and also catch the move of the day. from there the next key time is 8:00 pm. you will notice price always does a fake out or run up in the opposite direction during these times. why ? to entice retail to think they are missing a move fomo in only profit for a little bit then loose it all at london open/ session . its key to note that if price is moving in the opposite way of the trend around 8/9 pm that is a sign of time divergence (will cover clearly in pt 2) , and also a continuation sign. the reason its a sign of time divergence is because large position traders are not in the market most traders around this time are not on their chart to move the market. large funds dont trade 24/7 dont be fooled by this move its just a trap and a easy way for "them" to entice you to take the opposite of "their" trades. to finish this point its a sign of continuation also for the simple fact that if price ran in the given trend all day there wouldnt be much room to take positions at good prices and price will leave the "market movers" which we know cant happen. with these two examples we can see 1 the predictability of the markets leaving randomness out, we can see the market happens, we can see how the markets rest just like any other creature, and lastly see how "they" control and leave footprints on the chart without most people even seeing it. now i will like to explain what are wicks in relativity to how they are formed and also fits into this understanding. wicks are not REJECTIONS thats retail ignorance. going back to the fact that 90% lose money this must also mean that 10% of the winners HAVE 90% OF THE MONEY IN THE MARKET. this must be true if this doesnt make sense or you cant grasp this ask yourself if 90% of people loose money where is these funds going ? TO THE 10% very simple concept and if not the 10 % who else could possibly have the money ?? exactly ! so if the 10% have 90% of the money how cold price get "rejected" if there is no opposing force to reject price. do you really think that out of that small 10% of winners they would fight for price and reject each others orders when its alot easier to work together or take to the same trade ideas and take the larger percentage of traders money. also remember for this rejection to happen this must mean an entity buying or selling at the wick (at price forming the wick in real time) and we know retail cant move price. i hope this is starting to make sense. this another reason why retail concepts doesnt work. instead a wick is simply accumulations at premium prices and profit booking. picture this the 10 % opens a position at premium price in the form of a wick priofits 5,10 even 15% profit with a large position size at some point they want to book profits. so what happens they close orders at previous open of a move where there is liquidity resting, and when this happens their large positions automatically goes against the trend simply being because the size of their orders moves prices. so now if most or all of the 10% does this at the same time or close to the same time what will we see on a chart? a wick or even a huge wick, which retail will think its a rejection, some break out traders enter, some traders panic and close making it even easier for them to exit and cause more pressure in the wick formation. i hope you can start to see the real beauty of this market and understand how prices really moves. this is the foundation of my approach to the market i will probably do a 7 part series showing live examples previous examples and go in great detail to further prove my point BACK to the charts if you look u can see a classic jefe bear pattern that just formed( will explain this pattern next lesson ) and the 3d/ and 1w open has not yet been reached showing signs of further downward movement REMEMBER ALL OPENS MUST GET HIT ALL ORDERS ,MUST BE PAIRED now once the 3d open has been hit we can look for sign of reversal until the bears are in control key take aways 3d open still not hit and 1d open are still not hit with 1w jefe playing out meaning market will follow 1w strucutre untill a open is met WHATEVER TIMEFRAME U FIND OPENS BEING HIT OR ORDERS BEING PAIRED THEN 80-90% OF THE TIME THEY WILL TARGET OPEN BALANCES ON THAT TIME FRAME do dont get faked out by a wick and by now you should know how wicks work IF you enjoyed this post make sure to like comment share amd follow for more updates . 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CRYPTOCAP:TOTALEducation
by BIGPOPPA999
1
The annoying BTCSo, I'm not surprised BTC dumps after making a new ATH nor I'm scared but I can't say I'm not annoyed. ATH was less than +3% compared to last one and we're down over 5%... I mean, tell the people not to sell for so little! Overall since last reversal we went up a little bit over 13% but my worst retracement forecast is almost -10% (where ichimoku cloud and VLPR control line are one over another). Right now BTC price is testing my former support but I think it's already broken at 1h and I expect price to go lower. Bummer! If we'll make a bullish engulfing or tweezer at 1h maybe this support will hold, there's still 40 min at the time I'm writing. Use my trendlines to check supports and resistance.
by Shotokhan
14
EURUSD to the upsideeeHello Hello Hello my friends, it's been a minute.. Here we have a unique set up to take EU long.. Backstory 1. EU has had some strong bearish momentum breaking the lows from Sept 2020. FED rate hikes are likely following fresh inflation fears. 2. We expect a retracement to at least the 38.2 fib from May 2021 high which lines up nicely with Sept 2021 break of structure. 3. EU has just completed leg C of the Cypher harmonic pattern and we looking for a D leg completion before the downtrend retracement to 61.8 of C-D. Remember, manage your risk as always although this is a high probability set up we could be wrong which is ok. Have a good week all, share, comment with your thoughts. Peace. REZNfx
by REZNfx
2
PayPal strongly bullish after huge dropAs we know, PayPal's Q3 quarterly have shown a steady growth of the company, which is also trying to open up to collaborations with a giant like Amazon. However, this had an anomalous effect on the markets, where PayPal lost more than 10% in the following days. At this point, using a Fibonacci retracement with a minimum set in May 2020 (ie when the main lockdowns are over and a "new era" has begun for everyone, including the markets), we note how the decline of these days has reached the famous "61.8%", one of the most recurring and well-known retracement points in the trading world. Let's add how a company like PayPal has hardly already reached its waning phase, and indeed still has to reach its maximums (introduction to payments with crypto). I leave the conclusions to you, I only tell you that in my opinion this is the right time to buy PayPal on sale
NASDAQ:PYPL
by UnknownUnicorn18031164
1
NZDJPY short term retracement and longterm buyOn the Global Interest rates, NZD is rating very high compared to JPY with a 0.600% difference. This means NZDJPY is and has been on an uptrend. On the technical analysis, this pair has been on a strong uptrend since March 2020 and went ahead to break the HIGH OF the YEAR 2019 early this year. Currently, the price is on the HIGH OF the YEAR 2018 and this being a significant level we expect the price to retrace before the uptrend continues dominating. For now, it's not best to catch the bear pips but rather look forward to the best possible entry for a long-term buy move. I have set two possible levels 80.338 and 79.000 which are the possible buy entries. Follow for updates on this pair
by El_Chapo_Jr
$FLOKIUSDT Cypher PatternFloki Inu Coin Price & Market Data Floki Inu price today is $0.00023525 with a 24-hour trading volume of $34,127,064. FLOKI price is down -8.9% in the last 24 hours. It has a circulating supply of 0 FLOKI coins and a total supply of 10 Trillion. If you are looking to buy or sell Floki Inu, PancakeSwap (v2) is currently the most active exchange. Floki is the name Elon Musk wishes to give to his future pet Shiba. Floki Inu has a token burn of 1% each transaction, transaction fees of 5%, and a transaction redistribution to holders of 5%.
Long
by BADQOMOCAWGOWLD
1
#BTCDAILY - 7.NOV.21 TESTING UPPER TRENDLINE#BTCDAILY - 7.NOV.21 TESTING UPPER TRENDLINE Very strong bounce to keep it within this expanded symmetrical triangle pattern. Point of interest atm - if we breakout then there will likely be a pullback followed by a pretty large pump to at least $64k in the short-term. HOWEVER... There are quite a few bearish signals from Alpha Volume + Quite Overbought + Challenging the trendline resistance + Asia coming online rarely pumps a pump and usually buys the dip + Future Pivot is sitting a little lower along with the general pattern suggesting a retracement here. There is quite alot of excitement around Elon selling $25b worth of #TSLA shares and speculation it will go into #BTC but who announces they are going to buy before they are going to buy??? On the whole its still looking super bullish and not really expecting any crazy collapses from this point or at least until the ATH is challenged again
by Kryptochristian
Polygon #MATIC 1D - retrace scenarioPolygon (MATIC) on a 1D chart seems to have formed a double top pattern recently and making it's way down. I set up a few trend lines with fib levels to keep an eye on. I also put a few horizontal support lines for areas where the price may get support going down. What are your thoughts? Comment below, hit the like and follow me. Thank you! Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk #bitcoin #altcoins
M
by MillionaireEconomics
2