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EURUSD - Detailed MTFA Description - Trading with ConfluencesHi Traders! The market is in an overall Uptrend. We're going to start the MTFA with the Weekly Chart. Then we'll continue with the daily, H4 and H1 Timeframes. Here is the weekly TF: As you can see the market was in a descending Parallel Channel for a very long time. Then, it broke out and started to move upwards. After a while, it started to consolidate in a Range. Now, we are at the second Trending Move. The bullish Target is the Resistance at 1.25 and the bearish Target is at 1.20. Moving on to the daily TF: Here, the market is in an Uptrend. It is making higher Highs and higher Lows. But, take a look to the first Trendline: Price was rallying up and after the Trendline-Break the market started to consolidate. Then we have a second Trendline. Now it is breaking this Trendline and we expect a consolidation. The Range of the consolidation is between the Resistance at 1.22 and the Support at 1.20. Continuing with the H4-TF: Here you can surely identify the Head and Shoulders Pattern. We have a clear left Shoulder and a clear Head. The question is now: Is this a completed right Shoulder or is the market going to retest once again? However, we also have a Neckline and we will observe the reactions around it. Mainly we are looking to sell after the H&S Neckline Break. Lastly, here is the H1-TF: So, this chart may look complicated to a new Trader. But let's devide it, so you get hopefully a better understanding of it. Firstly: Which Key Structure do you already know from the higher TFs? The weekly Resistance (label is there) The pink daily Trendline The H4 Neckline of the Head and Shoulders Pattern (label is there) So, you already recognized those three Key Structures. Moving on from left to right. We have a Double Top Pattern. 4 out of the 9 speech bubbles are including this Pattern. This one blue dotted Level on the Top is the Neckline of the Double Top Pattern. The red circle reinforces the Double Top Neckline and Trendline Break. We have a descending Parallel Channel. This shows us possible valuable Areas to buy and sell. The idea is to sell at the Top of this Parallel Channel. But not only because that, we also have a last confirmation... We have a 50 EMA showing bearish strength. The market often reacts to the 50 EMA, because it is an indication for the Trend pressure. The Trade Structure The red Area shows the SL and the green Area the TP. The smaller the red Area compared to the green one is, the better Risk-to-Reward Ratio you have. We here have a RTR of 1 to 2.18. Now you should be able to understand the confluences behind this whole Trade Setup: - Approach of weekly Resistance / potential bounce off - Break of Daily ascending TL - H&S Pattern on H4 - Double Top Pattern on H1 - Active Descending Parallel Channel on H1 - 50 EMA showing bearish strength on H1 TF We recommend to trade with a low risk, because we are trading against the Trend here. Thanks and successful Trading :)!
Short
by swissmoneymakers
USDCHF - Wait for Retest - Trend ContinuationHi Traders! The market is moving in a longterm Downtrend. Let's begin the Analysis with the weekly Timeframe! Here is it: As you can see the market was moving in a Range (orange Box). The extremes Levels were the Resistance at 1.02000 and the Support at 0.96000. It even tried twice to Break out bearish before, but it failed. After that, the market started to respect the Trendline. After reaching the Level 0.90000 it started to consolidate then. The reasons for the Consolidation "Triangle" and not the Consolidation "Box" are justified by two factors: The upper bearish pressure which pushes the market lower and The lower bullish pressure which pushes the market higher. Both keep the market between extreme Levels. In this case the bearish pressure is a descending Trendline and not a Level. After this Consolidation the price broke out again in the Trend Direction. Moving on to the Daily: www.tradingview.com Here you can identify a potential repititive pattern: 1. The market breaks out of an Key Area. 2. Then it falls for 181 pips. 3. It makes a Retest 4. It continues the Trend If you take a closer look to the current Breakout, you can see that the market is getting slower at 181 pips. This of course means nothing for the future, but we can at least have an idea on how the market will might react to this. So, because we want to trade in Trend Direction (remember: The Trend is your friend!) we wait for a Pullback. The Entry Trigger is the Turning Point of the price after the Pullback. This could be the touch of the broken Level at 0.900000. It also could be the touch with the 50 MA. The Target after the Touch is the Level, from which the price had broken out bullish from the Parallel Channel. The Entry, SL and TP can only be defined when we have a concrete market situation. We have to wait and see. We recommend to trade the market with a bearish candlestick pattern confirmation! Thanks and successful Trading :)!
Long
by swissmoneymakers
GBPUSD - Correction before Trend Continuation Hi Traders! The market is in an overall Uptrend. Here is our multiple timeframe analysis for this pair. Let's start with the Weekly: As you can see we are here moving in an ascending Parallel Channel. In addition, there are two important key Levels. Firstly the Supprot at 1.20. Secondly the Resistance at 1.34, where the market is at the moment. The pink dotted line is a former Trendline which is now unvalid. It just shows the current bullish power for GBP. Now we continue with the Daily: As said before, the market is at Resistance. Additionally it is moving in a Wedge. Because the wedge has a steep Trendline, we expect the market to break out of it before it makes its next upturn. The main target is the lower Trendline of the weekly Parallel Channel. After that, the expection is a Trend Continuation, because of its bullish power. Going on to the H4: Here you can see the Daily Wedge again. Furthermore, there are a Support and Resistance Levels here. It is possible, that the market starts to range. Lastly, let's take a look to the Entry Timeframe: Now we are going to analyse the Entry with this template: A: The overall Trend is an Uptrend, but it needs a correction to move further. The Trend of the Entry Timeframe is sidewards. That's why it is legit to short the market. B: We are doing our MTFA at this particular moment. C: Never break your rules. 1.: The structure Levels are: The upper Resistance The two dotted Support Levels The lower Trendline of the Daily Wedge The Neckline 2.: Usual Behavior after Head and Shoulders Pattern: - Break of Neckline - (Temporary) Trend Change 3.: Entry Trigger is the Break of Neckline. 4. & 5.: SL is 26 pips above the Neckline and the TP at the lower Support. 6. & 7. & 8.: Let's put it into the Position Size Calculator and wait for the Break after the left Shoulder! We recommend to trade the Break with bearish Momentum or a Retest! Thanks and successful Trading :)!
Short
by swissmoneymakers
7
USDJPY - Trading with the Flow - Simple MTFA + ScreenshotsHi Traders! The market is in a Downtrend. You'll discover the behavior of the market for the daily, H4 and H1 Timeframe. This is called the Multiple Timeframe Analysis (mtfa). So let's start with the daily: At first we drew the most important (turquoise) Levels. Then we drew the descending and at last the ascending Trendline. The connection of those trendline results a Triangle. This Triangle isn't bullish or bearish; it's neutral. But the bearish pressure is higher, because of: - You already know the market is in a Downtrend. - The 50 EMA is resisting and touching the price. Now we switch to the H4-Timeframe: Here we analyzed the price action behavior of the Up- and Down-Movements. As you can see, the Down-Movements are more aggressiv and more straight then the Up-Movements. Of course it is sometimes the otherway round, but mostly it is like this. Finally, we get to the H1-Timeframe: The market is moving in a ascending Parallel Channel. Pay attention to this: The most recent high was lower than the High before. So this was lower high. In addition the price reached the D1-Trendline. Our Trading Plan is this: If the price breaks and closes below the Channel, we short. The SL is above the recent High, the TP at next conservative Level. We recommend to trade the market with a Risk-to-Reward ratio (RTR) of at least 1 to 1.5. Thanks and successful Trading Week :)!
Short
by swissmoneymakers
2
EURUSD - Bullish Flag Pattern - Trend Continuation + MTFAHi Traders! The market is in an Uptrend. Let's begin our Multiple-Timeframe-Analysis with the Daily: The market is clearly in a strong Uptrend. We here have an ascending Parallel Channel. The price is also respecting those other S&R Levels. Great, here is the H4-Timeframe: The market was moving in a consolidation. Then it came back and is now retesting this break. Here comes the important part! Now we have to consider the behavior and the price action of the market during the Retest. What is the market telling us? For Example: The market is breaking down and closes. Then it comes back and closes even above the opening price of the previos candle. (Bullish Engulfing Pattern) This is a sign of Bullish Power, even it did break down at first. Or what about that: The market is making lower highs and comes to the Support. You realizing that this could be a descending Triangle. This is clear bearish Power, because the Traders are willing to sell at lower and lower prices. Is everything understandable so far? If not, write a comment below! Finally, here is the Entry Timeframe: Firstly we have drawn the Fibonacci Retracement Tool. It was falling until the Level between the 50% and the 61.8% Retracement. Then we drawed the channel from the retracement move. We realized that this could be the Bullish Flag Pattern. Even we have a save SL which is far away, the RTR-ration is 1 to 4! And we're trading WITH the trend. We recommend to be careful at the Resistance Level. Thanks and successful Trading :)!
Long
by swissmoneymakers
USDJPY - EASY Bearish Triangle Pattern - Detailed DescriptionHi Traders! The market is in a Downtrend. The Key Areas are: Trendline "Daily Trendline" - descending, resisting Trendline "Bearish Triangle" - descending, resisting Resistance @ 109.900 Resitance @ 108.000 Support @ 106.700 Support @ 105.000 Category: - Bearish Flag Pattern - Trend Continuation When started the Downmovement? It started when it reached the D1-Trendline. This was around the Level of 109.900. How long was the first Downmovement? The movement ended at the Support of 106.700. The distance is 320 pips - quite a lot! What is it doing now? Now it is in the Bearish Triangle. The Triangle is made of a descending Trendline coming from above and the Support from the bottom. It is making the Support weaker, because no more buying pressure can hold the selling pressure anymore. Target of the idea? The bearish Break of the Support 106.700 is the Entry Trigger. We recommend to trade the Break when the candle closes! Thanks and successful Trading :)!
Short
by swissmoneymakers
2
Bitcoin - BTC Detailed Elliott Waves Count | 26 June 2018Here we have an overview of bitcoin's performance. Since January, BTC has started a downward journey due to its correction. Assumingly, an ABCDE type of correction has been formed which is fitting in a descending triangle pattern. Major Support and Resistance areas have been drawn where the support line coincides with 0.786 Fibonacci level. Moreover, you can observe the sub-waves of ABCDE. Potentially, Wave E can re-test the support area again. The key element is when we are going to test the resistance which is at 8900 - 9100 $, If we successfully break above this range, we can confirm an uptrend to higher highs. Let me know your thought in the comments!
BITFINEX:BTCUSDLong
by thats_me
2
AUDUSD Keep pounding - Watch the details!The yellow Fork describes the current most probable path of price. Forks are great, indeed. And adding details to the chart is like seasoning a sauce. So here we have our ingredients. See the up-sloping red lines? Know what's their job? Well, they describe the amplitude of the sine-wave within this down-swinging market. The last one...watch the last one...looks like something disturbs the harmony. Something going on?...change ahead? We dunno...and we don't have to know! Why? Because as a Forker you just follow your set of rules. So is it worthless marking out these details? Nope! You really should pay attention to them. Make notes about your observations every time you see something new or interesting. In the long run, this is one edge more you have, a new side-rule for example which can act as a filter, an entry signal or a warning sign. So, pay attention to these details use these observations as a takeaway from your chart work, even if you don't get a trade right now. P!
Education
by Tr8dingN3rd
Ripple - XRP Quick Analysis reviewHere's a quick review of XRP. My statement stays the same as mentioned in the previous analysis. In fact, we anticipated the current formed waves precisely . Make sure to check it out in Related Ideas section . I believe now we are on wave B of the overall (possible) ABC correction pattern. Therefore, I'm expecting a complementary corrective wave C. Of course, we are going to test the previous support again (where wave A ended). However, If it won't hold, we can expect a fall to 0.5 and 0.618(golden ratio) levels of Fibonacci retracement. Targets: First Buy Zone: 0.70 - 0.71 Second Buy Zone : 0.65 - 0.66 Few arguments regarding wave B / Why we are NOT done with correction YET! Wave A only retraced to low fib level of 0.382. Moreover, It's hard to count three waves as ABC instead of only A. (inside A) RSI hitting the resistance line, where it's possible to bounce down from it again. Slight bearish divergence on the histogram. Let me know your thought in the comments!
BITFINEX:XRPUSDShort
by thats_me
Ripple - XRP Detailed Analysis | 23 April 2018As discussed in the previous analysis, you can figure that we've hit our target by only 0.007 $ difference. Make sure to check out that analysis in the Related Ideas! Here's another analysis on XRP from a swing trader perspective. As you can see on the chart, This is a correction stage. A symmetrical triangle of type ABCDE seems to be forming within the resistance & support lines. In this critical critical section, after wave E is formed, we'll test to break the resistance. In that case, we can anticipate the start of wave V.
BITFINEX:XRPUSD
by thats_me
Ripple - XRP Detailed Analysis - Long Term and Short Term | 4/20Let's have a detailed short & long term analysis on Ripple! Make sure to check out the previous analysis from Related Ideas section and please let me know your thoughts in the comments! Here's is a bigger picture of XRP from a long term perspective: Because wave 2 only retraced to low Fibonacci levels (0.382), it is expected that next correction wave, wave 4, will retrace to higher levels (0.618 and 0.786). Therefore, we can anticipate a correction to 0.72 - 0.78 $ is necessary after we manage to reach 1$ region . Short term perspective: So far wave (I I I) has extended x2 of wave 1, I believe that's how far wave 3 could reach, as there's a strong support. Again, we can see wave II only retraced to 0.382 level. So it's sensible for wave IV to retrace to at least 0.618 Fibonacci level which seems to be where wave I also ended(support). Target : 0.77 - 0.79 $ 0.74 - 0.75 $ ~~~~~~~~~ Make sure to check out my EMA Script which you can have the 8, 13, 21 and 55 Exponential Moving Averages on one indicator for free: author : R.N behind_crypto
BITFINEX:XRPUSDShort
by thats_me
1
Ripple - XRP Daily Detailed Analysis |19 April 2018Hello Traders Here's another detailed daily analysis of Ripple - XRP, but first, make sure to check out my previous analysis in Related Ideas section. We nailed the target by only 0.01$ difference which is impressive! I believe we have started our journey of Intermediate wave 5 where the next long term target could be around 0.97 - 1.00 $. From swing and day trader perspective; I am anticipating a correction stage for next 24-48 hours. There's a strong support around 0.69157$ region. This is a critical zone, if this support breaks, we will enter wave 1 territory zone which means the Elliott wave count has failed. However, there is more chance that we keep up from this region, where it seems to be 0.618 fib level and also as I mentioned, there's a strong support. In this case, we can expect wave 5 to reach higher highs. First Scenario : (Doubble top) Target = 0.74 - 0.75 $ Second Scenario : (More bullish ) Target = 0.79 - 0.80 $ ~~~~~~~~~ Make sure to check out my EMA Script which you can have the 8, 13, 21 and 55 Exponential Moving Averages on one indicator for free author : R.N behind_crypto
BITFINEX:XRPUSDLong
by thats_me
Ripple - XRP Daily Detailed Analysis - ABCDE ? | 18 April 2018*This article has been republished due to violations of rules* Here's a detailed analysis of XRP on the hourly chart. I believe we have done the ABCDE type of correction as wave 2, now we can anticipate the start of wave 3. Wave 3 is never the shortest, and usually extends to x1.62 of wave 1. First Target = 0.75 $ Second Target = 0.97 ~~~~~~~~~ Make sure to check out my EMA Script which you can have the 8, 13, 21 and 55 Exponential Moving Averages on one indicator for free: author : R.N behind_crypto
BITFINEX:XRPUSDLong
by thats_me
Bitcoin - BTC Daily Detailed Analysis |19 April 2018Here's a detailed analysis on BTC 0.65% from a swing trader perspective. As illustrated on the chart above, we had 5 complete ways upwards, then we have done an ABC type of correction. Based on what has happened, we have two scenarios which I am going to discuss it here. Scenario 1: Knowing that we have had an ABC correction, we can assume this ABC is the intermediate wave 2 and now we are projecting to intermediate wave 3. Targets would be minimum x1 and x1.618 of intermediate wave 1. But this is less likely to happen since in this case, wave 2 would only retrace to 0.382 Fibonacci level. (Statistically, wave 2 retraces to 0.382 on 15% of the time) First Target = 9450 - 9500 $ Second Target = 10400 - 10500 $ ~~~ Scenario 2: The ABC correction could be forming wave W of WXY bigger correction pattern. If this happens, I am expecting wave Y to retrace to 0.5 and 0.618 Fibonacci levels. Price Range = 7400 - 7600 $ ~~~~~~~~~ Make sure to check out my EMA Script which you can have the 8, 13, 21 and 55 Exponential Moving Averages on one indicator for free: author : R.N behind_crypto
BITFINEX:BTCUSDShort
by thats_me
2
Ripple - XRP Daily Detailed Analysis - WXY ? | 16 April 2018Here's a detailed analysis of XRP on the hourly chart. We clearly had five waves up ( 5 minor waves = 1 major wave up), then we saw an ABC type of correction (major wave 2 = correction). Next seemed like we are about to begin the start of the major wave 3, however, that's failed. In order to attempt to form a major wave, we have to see another ABC correction. The whole structure would make a WXY pattern. In regards to landing prices; First Scenario: Is that we fall to 0.382 Fibonacci level which actually is a strong support. (As it's the beginning of wave 4 from the major wave1, and also it's the ending of wave W) Target1 = 0.612 - 0.622 $ Second Scenario: It is possible that we retrace to the popular 0.618 Fibonacci level and the Golden zone. Target2 = 0.55 - 0.58 $
BITFINEX:XRPUSDShort
by thats_me