Hi Everyone :)
I'm going with the idea that the next move/leg will be down.
Confluences as you can see from the image.
Wedge created with ABC structures ending. I see us at the final position of the wedge and ready for a move down soon once we get strong bear bars on the 15min-30 minute.
This end of the wedge also coincides with a bear trend channel line as you can see.
The prior move beforehand was a strong bear channel down and we will most likely see a move down to that bottom point again to test whether we'll continue down or bounce back up to confirm a reversal.
The corrective structure being that wedge shows me that there's a bit of balance between bears and bulls in terms of the direction/conviction.
There are a fair bit of bulls in the market there looking to turn this price back up. This gives me some indication of a higher probability that once we test that low area again, the bulls will enter the market and drive this price up and reverse the market, in which the bears will most likely follow suit/exit their positions.
Another idea is that a bigger bear channel will be created via the bear channel line and we might see prices go down further. Albeit, a lower chance but still a posibility.
As of now: Approx 70-80 pip short move at minimum.
Lets follow the market and see.
Please LIKE and FOLLOW me if you enjoyed this analysis. Thanks kindly :)
I'm going with the idea that the next move/leg will be down.
Confluences as you can see from the image.
Wedge created with ABC structures ending. I see us at the final position of the wedge and ready for a move down soon once we get strong bear bars on the 15min-30 minute.
This end of the wedge also coincides with a bear trend channel line as you can see.
The prior move beforehand was a strong bear channel down and we will most likely see a move down to that bottom point again to test whether we'll continue down or bounce back up to confirm a reversal.
The corrective structure being that wedge shows me that there's a bit of balance between bears and bulls in terms of the direction/conviction.
There are a fair bit of bulls in the market there looking to turn this price back up. This gives me some indication of a higher probability that once we test that low area again, the bulls will enter the market and drive this price up and reverse the market, in which the bears will most likely follow suit/exit their positions.
Another idea is that a bigger bear channel will be created via the bear channel line and we might see prices go down further. Albeit, a lower chance but still a posibility.
As of now: Approx 70-80 pip short move at minimum.
Lets follow the market and see.
Please LIKE and FOLLOW me if you enjoyed this analysis. Thanks kindly :)
Commento:
Watching this next 15 minute bar. Good bear bar will give me a good indication of sell.
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You see how it's breaking out below the prior bar? Good signs so far. Always wait for close and confirm. Otherwise will bleed out your account. We all know how the market switches direction quickly before close.
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See the 15min bar reversed.
Let's look at the 5 minute now. I like this Trendline rather than the latter.
latter:
Expecting a reversal here using the former screenshot.
Let's look at the 5 minute now. I like this Trendline rather than the latter.
latter:
Expecting a reversal here using the former screenshot.
Commento:
5min: Looking for some bearish pressue here.
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15min: Looking for bearish candles.
A breakout below previous bar(s) or even an inside bar for a start.
A breakout below previous bar(s) or even an inside bar for a start.
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5min: SO FAR so good.
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15min: waiting on close to get a better idea.
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15min: Broke out and strong. Looking for follow through shorts to give even more confirmation and higher probability of a winning trade.
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Looking for 30minute validity due to the previous 30 minute corrective structures. Based on this we just finished the B wave and coming up to end the C wave.
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30 min ABCs
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30min rejecting and creating a wick. 6 mins left on candle
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Changed Wedge and looking at this more like an ABC.
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Looks like a Strong Bear continuation. We might see further falls and continuation of this Channel down.
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If there's some rejection it can still majorly correct. Lets see how the Bulls enter in the reversal zone.
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Target reached. Looking to see a bounce or continuation down.
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Appears like we are rejecting. If continues then expecting to break channel and make moves up. Approx 190- 550pip range movement incoming if that's the case.
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Looking for double tap off the otherside of the channel lines, testing it as support and then want to see strong bullish bars and follow through.
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Looking for a strong 15min close here for a good probability of higher moves.
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Looking to see this double tap formation and rejection on the 1 hour time frame. The time it's taking to play out is longer hence we need to look at the larger time frame(s).
Price reacting now as we speak and potentially should see movements soon, IF price does rise.
Keep in mind that if price does continue up then IT IS possible to see a trading range being formed. We'll have to see if the breakout above actually breaks out or fails.
IF price doesn't double tap and go up then we may see price come down to test that bottom again. I'll wait and see what happens.
Price reacting now as we speak and potentially should see movements soon, IF price does rise.
Keep in mind that if price does continue up then IT IS possible to see a trading range being formed. We'll have to see if the breakout above actually breaks out or fails.
IF price doesn't double tap and go up then we may see price come down to test that bottom again. I'll wait and see what happens.
Commento:
1minute left on the hour candle. Looks STRONG. Good buy opportunity.
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Trade attivo:
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Up we go again.
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Looking for a break above from here
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Watch the 4 hour candles too!
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12 minutes until NFP. We are in a trading range area. Price decided to reject off the upper band. Not enough volume before NFP to drive the price up and BREAKOUT.. Indecision between bulls and bears also. We are at a critical mid point area to decide whether to go up or continue the correction down.
This entire area, even if you zoom out on the 4hour/daily, there's confusion on direction. Up and Downs. More potential trading ranges on a bigger time frame. At this moment i'm approx 113 pip in profit. I will place protection measures and lock in some profits in a safe spot in the case that NFP drives price down.
Remmeber also that we are in a trading range so failed breakouts are probable. Hoping for a breakout with a lot of volume entering.
Getting tired so will be off to sleep soon everyone. Happy Trading !! :D
This entire area, even if you zoom out on the 4hour/daily, there's confusion on direction. Up and Downs. More potential trading ranges on a bigger time frame. At this moment i'm approx 113 pip in profit. I will place protection measures and lock in some profits in a safe spot in the case that NFP drives price down.
Remmeber also that we are in a trading range so failed breakouts are probable. Hoping for a breakout with a lot of volume entering.
Getting tired so will be off to sleep soon everyone. Happy Trading !! :D
Commento:
Highlight shows a possible reversal and B wave completion. Might see some strong moves down and potential breaks.
We have 2 trendlines down here too in black, coinciding at the bottom of this trading range for a bounce/failed breakout.
Lets see how price plays :) Fun
We have 2 trendlines down here too in black, coinciding at the bottom of this trading range for a bounce/failed breakout.
Lets see how price plays :) Fun
Commento:
Many Resistance and trendlines here. Rejection and probable up moves. Lets see if it breaks out too or fails.
Commento:
4 hour candle switched from strong bear to nice bull so far, Looking for it to close well and follow up with a strong bullish candle afterwards.
But remember we are still in a trading range At the moment (on the smaller timeframe, however looks strong to breakout)
But remember we are still in a trading range At the moment (on the smaller timeframe, however looks strong to breakout)
