Alikze »» FTM | Wave 3 or C super cycle scenario - 2D🔍 Technical analysis: Wave 3 or C super cycle scenario - 2D
- In the analysis presented in the previous post in the weekly time frame, it was mentioned: it is suspicious of a head and shoulders pattern.
- So far, according to the previous analysis, the first target (supply zone) has been touched and it is currently above the target zone.
- In the analysis presented in the 4-hour time frame, it had a zigzag pattern, which is in wave one of three.
- In the daily time frame, it is located in an ascending channel, the previous corrective wave was able to form a reversal pattern in the range of 0.23 fibo.
- Therefore, I expect that it will face demand in the Buyer Zone and continue its growth with the failure of the middle of the channel up to the ceiling of the ascending channel.
In addition, after breaking the ascending channel, it will have the ability to reach the red box area (supply area).
So this bullish wave is wave 3 or big C, which will have the ability to grow up to the indicated ranges.
💎 Alternative scenario: If the Buyer Zone is broken and stabilizes below it, it can touch the 0.23 Fibo range again.
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OKX:FTMUSDT
Supply_zone
SUPPLY vs DEMAND 📉📉📉✅1) Use longer time frames to identify supply and demand zones
By zooming out, traders are able to get a better view of areas where price had bounced off previously. Be sure to use the appropriate charts when altering the between multiple time frames. Draw a rectangular shape to denote this zone. Demand and supply zones do not necessarily have to appear together - often currency pairs can reveal one or the other.
✅ 2) Identify strong moves off the potential demand/supply zone
Certain price levels offer value to either bullish or bearish traders. Once institutional traders and big banks see this value, they will look to capitalize on it. As a result, price action tends to accelerate relatively quickly until the value has diminished or has been fully realized. Witnessing multiple instances of this at the same price level increases the probability that it is an area of value and therefore, a supply or demand zone.
✅ 3) Use indicators for confirmation of support and demand zones
Traders can incorporate daily or weekly pivot points to identify or confirm supply or demand zones. At DailyFX, we have a dedicated page showing relevant support and resistance levels for all major markets. Traders should look for support and resistance levels to line up with demand and supply zones for higher probability trades.
🏦 Often, a currency pair will climb to an area of resistance called a ‘selling zone’, where sellers perceive there to be great selling potential at a relatively overbought price. The reverse is also true for currency pairs that drop to relatively low levels, ‘demand zone’ where buyers perceive there to be great value to buy.
If you haven’t learned the basics of the supply and demand, or would like a refresher, read our guide on the forces of supply and demand.
🏦 Supply and demand zones are observable areas on a chart where price has approached many times in the past. Unlike lines of support and resistance, these resemble zones more closely than precise lines. Traders can customize charts to identify the demand and supply zones
Do you use this concept ? 🔥
USDJPY Sell SetupHello ! Usdjpy Reached At Multiple Weekly Resistance Strong Area . It Will Sell From Resistance . you Can Take Sell Trade On Weekly Chart .I Hope You Will Get Green Pips .
Key Areas Ahead !Here we have updated potentially significant Support Resistance Areas.
When I post these areas please look for Price Action there. Like in our previous idea price slightly broke through the resistance but it never gave a buying signal there. The buying or selling decision has to be made watching Price Action watching the Candle Sticks patterns over there. Previous Idea shows a classic example of price leaving our resistance zone and then retesting it multiple times and making clear cut selling Candle Sticks Pattern before finally giving us a big leg down.
GBPJPY 15M SUPPLYI'm interested in a lower time frame supply zone within a higher time frame supply zone that is also an Upthrust After Distribution. The previous supply zone might prevent price from reaching my zone of interest but that is okay. My target is the support line when imbalance had occurred on the Daily, giving me a possible 1:11 RR.
NZDJPY 5m SUPPLYI am looking at a SUPPLY zone on the 5-minute chart. The supply zone is greyed because there is a lot of trading happening to the left of it.
USDCAD 15min SUPPLY ZONESo, now I have my confirmation and now switching my attention to the SUPPLY ZONE above. I put in a SELL STOP order. If it closes above the distal of my zone, I will close the order.
NZDJPY 5m SUPPLYThis here is a high probability supply zone actually on the 5m chart that one can take for a quick 3:1 RR gain.
USDCAD 15M SUPPLY ZONEI am looking to sell from the supply zone for what could be at least a 5:1 RR. I do not underestimate the Demand Zones below. But there is only one really that concerns me. Either way, depending on the entry, I'll be looking to get out if I feel it is turning on me.
XAUUSD short or long - 2 Scenarios Explained - UPDATEHello Traders!
I decided to do an Update now for GOLD.
In the last analysis I mentioned a possible short Trade and I that will confirm the trade.
We had no Price Action Confirmation to sell
and
No Price Action Confirmation to buy
What can happen now?
On Gold we got 2 possible scenarios.
#1 Price will not create a higher high and will drop down to the Demand Zone.
#2 Price will break the Resistance and will go up. At least to 1780. Final Target is 1800.
Overall Structure:
I mentioned in the video analysis that Gold is very bullish market. Also you need to keep the fundamentals in mind. Corona, ...
This are points that are pushing the price higher. Therefore the direction for Gold is long.
But this does not mean that we can not catch some nice pips at the correction moves. On Gold you got big correction moves therefore they are nice trade setups possible
You have seen in the last analysis how important it is to wait for price action confirmation. On Gold it is more important because this is a very aggressive pair.
So for now do not trade Gold. We simply got no confirmation right now to jump in short or long
That was my Idea and I hope you liked it. Please leave a LIKE if you like the content. In the comment section you can share your view and ask questions.
Thank you and we will see next time
- Darius.
Practicing and testing how order blocks workPracticing and testing how order blocks work. Order blocks are a different way of looking at support/resistance and supply/demand.
Learning to trade order blocksQuite possibly an orderblock forming right here, 4h shows major wick to grab stops, possible trade, might have an S/L lower than this.
#EURCAD go long for long-term#EURCAD is on the demand zone
It has been breaking and testing the trendline
Go long for long-term
Target in supply zone that has the inside bar
#USDCAD wating for Shorting in the zone having bearish engulfing#USDCAD has broke the trendline
Waiting for shorting in the zone that has bearish engulfing (price action)
EURGBP waiting for going long in long-term#EURGBP broke the trendline
It need to have a pull back before going up in long-term
Waiting for Buying
#EURUSD need for the pull back#EURUSD is in demand zone on daily time_frame
We can buy a bit and target RR = 1:3
Waiting for it
#CADJPY go short now#CADJPY has broke the support zone and finished bearish engulfing last day on supply zone
It's testing the bearish engulfing zone
==> Good entry ==> Go short now
#CHFJPY waiting for going short#CHFJPY has bearish engulfing last day in supply zone => Seller win
Waiting for testing in the berish engulfing zone and going short
It'll break the support trendline and go down
#AUDJPY waiting for going short#AUDJPY has broke the support trendline
It has finished testing by doji pattern on daily time-frame
Waiting for the next testing doji zone on daily time-frame and going short
