Trendlines...Trendlines can be super powerful! Draw them onto the tops of the wicks of the candles, do not 'make them fit' and always be wary for a retest to get that sniper entry!
Trendlineconfluence
What's currently holding BTC up-a simple low-angled trendline.Each time price reached that line, it's held it up so far but how long can this be held up? Comments are always welcome.
BTCUSD Confluence of Support Bounce Probable??????? We have a huge confluence of support right here. We are testing the trendline from the December High. It also is right were the current upward trend from June is along with price resistance/support lines. If you look at the daily chart there is currently at a huge confluence of support and it is likely that we will see an bounce or a reversal of this downward move. When we broke out of the resistence from december we never tested it as support therefore the price needed to come down and test that same trendline that was resistance for so long. So there is a high probability of a bounce. I hope we reverse on this bounce and continue up. I am not sure which way we will go, but if we go down below 6k I believe we will follow this trendline from the December high down. This trendline is the thin orange line that is extending from the green pennant trendline from december high. I am not saying this will happen but if it does I am putting a target between 2.9K and 4K. But until we break below are current trendline I am expecting a bounce in the short-term which could be wave 2 or 4 of an upward impulse meaning the move can't be over. Others think this is a correction from the downward, but with this impulse reaching 8400 it should have invalidated most of those bearish counts. So whats next move????? There is one other count where we just move sideway with lower highs
NZDUSD UpdateAs you can see the NZDUSD pair on the 1hr chart is approaching the trend-line set my the previous descending highs. We will see how this plays out. The market makes the same setups every time. Wait for a break to the upside or a bounce back hopefully to the next daily support.
EURUSD long analysis - 4hr.Here we see several factors lining up as confirmation in a zone between 1.1713 and 1.1760
fibonacci cluster zone
8 month trend line support test
head and shoulders bullish pattern
Demand zone
With these confirmations lining up there's a solid risk return setup to go long
"Trade what you see not what you think" Bearish Sentiment Validated confluences
1.Weekly Trend line valid
2.Support broken Resistance validated
3.Trend Trading
4.Profit margin 1:3
5.Breach of higher Bollinger band
XAUUSD SHORT TRADE FOR ABOUT 650 PIPSA short opportunity for a solid profit reward ratio of about 1:5
Confluences of short term supply zone + head and shoulders pattern breakout + 4H TF trendline touch for our solid entry Zone.
Keep your eyes on divergences to make sure for more conservative traders on this opportunity.
Happy Trading month to all.
USDCAD POTENTIAL LONG OPPORTUNITYLooking for Buy opportunity at current trendline. Push up may be due to news.
Look for entry pattern.
USDCAD Sell the breakoutHello folks, nice trendline play, sell the breakout to lower trendline resistance. gl/
X marks the spot.Target 1: intersection of 38.2 bull and 50 bear fib rays.
Target 2: intersection of the 50 bull and 50 bear fib rays.
Trend Line BounceFX:USDCHF
Price is currently spiked up to the current trend line took a short position at 1.00856 looking for price to zig zag its way down to 0.99318!
Patience is the key
EurGbp Bearish crap, trendline, 78.6 fib confluence. EurGbp has formed bearish crab pattern and there is also trendline resistance and 78.6% fib confluence.
TECHNICALS | EURGBP Confluence of H&S, Trend-line & 200MAPre-positioning for a break of the trend-line and 200MA. If the neckline of the head & shoulders pattern is breached, there's likely to be some bearish price action.
Fundamentally, I see all the risks in the Euro vis a vis the Sterling. I think this could be the trade of the year!
Prepare to SHORT EURUSD - H1The EURUSD is preparing for a short.
You can enter at 1.0425 and exit at 1.0330
HOW I TRADE (VERY HELPFUL!!)HOPEFULLY THIS HELPS YOU GUYS!
REMEMBER TO HIT THAT LIKE BUTTON!
GIVE US A FOLLOW AND ASK ANY QUESTIONS IF NEEDED!
THANKS
TOM
Long SODA on TL Break, Divergence and Daily SupportDaily S/R zone and trendline support are being obeyed which provides a nice R/R opportunity to go long. An hourly TL break in addition to momentum divergence and an oversold RSI provides a nice entry at around 19. Target the minor resistance around the nearest missed weekly pivot with a SL below recent lows.
GBPCAD Potential bullish Cypher pattern with trendHere we got another one of the infamous harmonic patterns with trend on the 4hr timeframe. This pair have been a little choppy the past weeks, so look out for how the price action is going to behave. We need an over sold RSI and a good retracement. Since this is a with short term trend we got 2 targets, i recommend to close half position at target 1, move stop to break even and let the rest run to target 2. But its only my personal rules.
Please take care in the market this week, we got a lot of news announcements and Greece god knows how much trouble thats gonna make this week so lets keep it sharp.
For those that follow me we started the week out with an 88 pip loss, we got a few order open in the moment that is running on profit. This morning we got 3 perfect setups that just got within few pips of our entry and then ran straight to targets so it was a lot of pips on the floor there, but i guess thats the game.
Kind Regards
Thomas Jeff
