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Channelbreak

GBPJPY Trade Idea - Elliott WaveLet’s discuss the price chart of the GBPJPY currency pair based on the 480 minute timeframe. From the Elliott Wave perspective, GBPJPY has completed a 5 wave impulse up of two degrees, specifically, Minor Wave 5 and Intermediate Wave (5). The price has recently broken below the bullish channel of Minor Wave 5. Most momentum oscillators are also forming a bearish divergence pattern. From the Hurst Cycles perspective, the composite model line which measures the combined cyclical pressure, topped on April 18 (red vertical line), and is projected to form a bottom on June 28. Based on this, we can expect prices to head lower to at least the 38% Fibonacci retracement level of the prior impulse. This will serve as the first area of support, but price should move beyond this level at some point thereafter to test the 50% Fib retracement level. If you find this analysis useful, make sure to press the “Like” button and Follow us.
Short
by ForexTrainingGroup
EGLDUSDT Wants to have a breakout from the Weekly resistanceThe price got a rejection from the weekly resistance on 164$ and not the price is creating another bull flag above the previous descending channel the price retested the previous dynamic resistance as new support exactly at 0.618 Fibonacci level. How to approach? The price needs to have a breakout from the weekly resistance and descending channel. Beware to the left, you can find the supply zone. So if the price is going to have a breakout, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
2
NEARUSDT Wants to retest the ATH!?The price is testing the 4h support after the rejection from the supply zone on 20$ as you can see on the daily chart (the upper one) The price is creating a ascending channel below the weekly resistance on 17.7$ How to approach? The price could retest again the supply zone on the 20$, so if the price is going to have a breakout from the weekly resistance and dynamic 4h resistance, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
6
ADAUSDT is creating a descending channelThe price had a breakout from the descending channel and got a rejection from the weekly resistance on the 1.19$. On the 4h timeframe the price is creating a descending channel on the 0.786 Fibonacci level below the monthly resistance. How to approach? The price needs to have a breakout from the channel and monthly resistance, and flip it into new support. According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
16
IOSTUSDT is creating a descending channelThe price is testing the 0.786 Fibonacci level on the daily timeframe on the weekly support (0,028$) On the 4h timeframe the price is creating the main descending channel and the market is creating a channel within it. How to approach? The price could retest again the 4h demain on 0.027 if the price is going to lose the dynamic support. According to Plancton's strategy , we can set a nice order The scenario is invalidated if the price is going to have a breakout above the monthly resistance (0.32$) ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
11
GBPJPY Trade Idea - Elliott WaveLet’s discuss the price chart of the GBPJPY currency pair based on the 240 minute timeframe. From the Elliott Wave perspective, the price action appears to have completed Wave B of the corrective sequence just beyond the 78.6% Fibonacci retracement level. GBPJPY is currently progressing in Wave C down. From the Hurst Cycles perspective, the composite model line which measures the combined cyclical pressure, topped on April 6 (red vertical line), and is projected to form a bottom on June 13. Based on this, we can expect prices to push lower from here. The confirmation will come upon a breakout below the lower channel line and is likely to find support when it reaches a 100% Fib extension of Wave A. If you find this analysis useful, make sure to press the “Like” button and Follow us.
Short
by ForexTrainingGroup
4
is ITC gonna prove everyone wrong this time ?In recent years, $ITC.NSE has been talk of the town but on insta memes for its underperfomance. But recent rally seems to have some surprise for traders as it has crossed and closed at 267.80 which is 3 years high. Technically, momentum is strong with volumes and also it is running up towards the channel resistance of 282 above which a new DREAM rally would be initiated. But on downside support is at 200 WEEKLY average at 235 which can act as Stop loss for investors and fresh traders.
NSE:ITCLong
by KushGhodasara
ETHUSDT is creating a channelThe price is creating a channel between the demand and supply zone on 4h timeframe. on the daily timeframe, the price is trying to hold the 34100 support and retested the previous W's neckline. on 4h timeframe the price lost the channel, and now the price is testing the previous dynamic support as new resistance How to approach? - for a bullish scenario, the price needs to flip the 3520$ with volume and momentum, the price created a double top on it. - Otherwise, if the price is going to lose 3240, we could see a retest of 3k According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
by InkyGrip
10
ETHUSDT is trying to have a breakout!the market had a breakout from the descending channel and now it's testing the static resistance on 2750. Like Bitcoin, Ethereum needs to create a new Higher Hig above 2800$ (better above 2900) with confirmations and volumes On the 4h Timeframe the price is testing the daily resistance below the 4h supply zone on 2800-2900$ How to approach? IF the price is going to have a breakout from 2900-2950 and retest the previous resistance as new support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
10
NQ Power Range Report with FIB Ext - 3/17/2022 SessionCME_MINI:NQM2022 - PR High: 13995.00 - PR Low: 13953.25 Evening Stats (As of 2:05 AM) - Gap: = N/A - Session Open ATR: 471.74 - Volume: 32k - Open Int: 181k - Trend Grade: Neutral - From ATH: -16.50% (Rounded) Key Levels (Rounded - Think of these as ranges) - Long: 14675 - Mid: 13500 - Short: 12390 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
CME_MINI:NQH2022
by mv3trader5
BTC lost its downtrend channel, What's next?BTC lost its downtrend channel, What is next? Is it a bullish sign? As you can see on the chart, BTC has lost the strong downtrend channel, This channel was directing the price from the $45,000 area to lower lows. Usually, after the break out of a major channel, A trading range will be created, This happens because Traders are making decisions to specify the future movements in the market. The upper scenario is happening for BTC right now, According to channel breakout and bulls weakness, I think the price needed some trading range between $40,000 and $36,000 area BEFORE creating a new uptrend or downtrend channel! At the moment Trading in this range is the correct decision, Sell near resistance and Buy near the support zone.
by TahaZargar