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Confluence

4H GBP/JPY SELLGBP/JPY is in a distinct 4hour sell bias. GJ was currently consolidating and creating the final exhaustion from the earlier push down. Possible selling opportunity, watch out for extra SL hunt place SL above previous wicks. Multiple confluences for sell including trendline touch, supply & demand zone, 50% retracement fib, sell bias market structure creating the HL to push down for a new LL, imperfect double top. Targets are around the -27% rib extension or around the 131.00 round psychological number.
Short
by elaniskov
3
XAUUSD: Gold Shorts?4Hr Time Frame: Notice how price is ranging in between our support and resistance zones. Price is now back at 1730.000, a previously respected zone. Notice how price reacted in the past. If price maintains below this sell zone, then we can look to do the same thing again. Reading structure, price is creating multiple Ms or double top formations. 1Hr Time Frame: Scaling down further we can see the double tops clearer. Notice how price violated this uptrend and is now testing as resistance. If price manages to sustain below this area, then look to short this down (target 1 1700.000). However, if price violates this resistance with strong bullish momentum then we must reevaluate price action. Due to uncertainty of market fluidity, risk management is highly recommended.
OANDA:XAUUSDShort
by ChartAddicts
2
AUDJPY: Can Bears Hold 69.000?Daily Time Frame: Price is approaching areas of resistance at 69.000 key psychological. By reading price action we can see that price had a strong reaction when it tested this resistance area in the past. Notice the strong bearish engulfing and wick rejections (pointing to the upside). If sellers are still at this zone, then we can anticipate them protecting this area. 4Hr Time Frame: Price is testing this supply/demand area once again. If price manages to sustain below this area, then we can look for shorts down to 67.500 key psychological support. However, if price manages to penetrate and close above then we must reevaluate price action. Due to uncertainty of market fluidity, risk management is highly recommended.
Short
by ChartAddicts
BTC: Day trade setupGood morning! Closed out a small short on ETH @ about $177 early this morning for a healthy profit. It's been fun dabbling in day trading again. Coming into today, my focus is back on BTC. It fell out of a small descending triangle, but price popped back up above the dark red support/resistance line. I imagine price will linger in this area for a bit until we approach the edge of the larger channel. Some key reasons I closed my short here: 1) There is a healthy bounce off the pivot 2) Were sitting in the golden pocket of FIBS (zoom out, larger dashed purple lines) of the 3.5-13k movement we had previously. 3) We're approaching the edge of the channel and several other key support areas 4) Our triple EMAs are still bullish above the 55 blue EMA on the 4hr chart. The pink downward arrow indicates the expected target of the descending triangle. This would be my most ideal buy in price, but will settle for anything around the pivot as well. As stated, it's a day trade so I plan to close at 5% profit. There is always the possibility of more, but the key to successful day trading is establishing a set of rules for yourself and following it. My biggest thing is to trade in ranges- take profits when the goal is met and don't FOMO back in, or stay in a trade out of greed.
KRAKEN:BTCUSDLong
by infbp22
Riding EURUSD Up To Form a Bearish GartleyEuro recently tested and retested an order block near the 1.0800 level. Upon this rest it has began the formation of a larger bearish gartley pattern on the 4 hour chart with a potential reversal zone between 1.1250 and 1.1300 (the 1.27 retracement of the BC and .786 retracement of the XA legs respectively. Entries for a buy would take place 1.09, with target 1 at 1.1150 and target 2 at 1.1300. Stops below 1.0830. For bearish entries upon the completion of the pattern formation. Entries would be at 1.1300 With stops above 1.1380 (the 1.618 retracement oc the BC leg as well as the .886 of the XA leg). Target 1 would be at 1.1100 and Target 2 at 1.0975. (Chart isn't the cleanest right now, but I've been keeping my eye on a lot of things. My apologies)
Long
by cheminacci
3
EURJPY - Bearish confluence!Lots of confluence pointing towards shorts on this pair looking at the H1 TF. Technicals: - Rejection of s/r zone in line with rejection of 200 EMA - Price action - hanging man/shooting star followed by strong bearish engulfing - Potential rejection of 118 psychological level Fundamentally I'm assuming we will continue to see a pressured Euro considering the Coronavirus situation in Italy (being a major economy) and refused EU bailout, which along with our technical bias may push this pair further south. Nice intra-day set up with good R:R, >1:4
Short
by MMQ_FX
2
Confluence of resistance on BTC approved by a bearish bat on stochastic indicator Hi pros! confluence is a method used for having an edge on the market (advantage over others traders) based on high probability winning rate in this case we used 2 types of resistance: -multiple trendline -structure resistance that provide us the best point entry possible for a trend continuation setup short from here enjoying the opportunity of that point entry being the optimal aim for 5000 then 3400 then 2000 or less
GEMINI:BTCUSDShort
by jeanneymar011001
Great Looking SetUp, BUT ITS FRIDAY....Shouldnt be trading on friday. But...... Idk... At 25 pips bring SL to break even,,, fuck it.. Lets take the risk and see what life has in store for us. Cant be afraid of the unknown, but we can be caution because of the proven... Dont be afriad, accept it and learn how to deal with it in the best way possible. Thats how you make things easier for the mind.. When you're 1 with your maker and accepting realitiy and youre blessing... lol You can go far..
Short
by rellis281
GBP/JPY SELL SIGNALHey tradomaniacs, welcome to another free signal! Important: Wait for the breakout of the current trendchannel and sell the retest after rejection. ----------------------------- Type: Daytrade Market Sell: 127,980 Stop-Loss: 129,410 Target 1: 126,810 Target 2: 125,530 Target 3: 124,740 Stop-Loss: 140 pips Risk: 1-2% Risk-Reward: 2,3 ----------------------------- LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Short
by Trading2ez
2 Possible SHORT EntriesWe are finally presented with more accurate technical analysis details on which we can more or less rely on here...As you can see, we managed to break out of the descending trendline from my previous posts coming up the our first crucial zone of confluence on the lower time frames. 5900-6000 is currently our holding resistance level and we will be looking to take short positions here incase we don't manage to break out of this level. Patiently waiting for the 4H candle to close down here to get a more accurate view on the upcoming price action, but so far its looking good. Now, incase we do see a break out, looking at the daily time frame we can see that the price will eventually come to an important zone of confluence within the 6500 area, as the price historically retested it multiple times. That would be our second short entry zone. In the meantime, we want to see a bounce from the 6000 resistance and break below the ascending trendline to confirm our shorts. Nothing too complex here, just a matter of price action within support & resistance levels. Watch out for any news coming into the markets within the next 2 days, as it can bring a lot of volatility! This is NOT a financial advice, trade at your own risk!
BITMEX:BTCUSD.PShort
by Proszi
2
BABA- Possible buy-in spotCrazy times all, but from a technical analysis stand point, BABA looks like its in another good buy-in zone for those looking to get on the wagon. I adjusted the channel a bit. We are at the bottom of it, including more confluence of support (blue line, golden pocket of the FIB retracement, etc. We're having a black swan event. Look at the overall trend of the US markets and other ones like BABA. It's not linear, but the trend has been UP since the begining of the stock market. Don't panic sell, wait!
NYSE:BABALong
by infbp22
MA AnalysisAs you can see on the chart, Moving Averages and Exponential Moving Averages can play a significant role in determining support and resistance areas. This is multiplied further when there are two or more MA/EMAs at the same price level, and these can make for great validation levels; "If price closes above these 3 MAs, look for long entries on lower timeframes" etc. You can also see that price traded in a fairly well defined range from June to October in 2018, hemmed in by both the 10 and 20 EMAs, and providing some great opportunities. Additionally, you may notice that the Monthly candle of December 2019 had little chance of significant price action, with 2 MAs directly above, and 2 MAs directly below (yikes). Currently, we are pressing up against MA resistance, which previously participated in the resistance of closing price in the April 2019 candle, and the December 2019 candle. Though I expect this month to close quite red, I would be surprised if we don't wick to the mid 9k range, where I will look for weakness. Use stops, and confluence.
BITSTAMP:BTCUSDLong
by Pillarstric