Weekly Pivots
EURUSD could target 1.16000 as a consolidation move! There is no doubt that EURUSD is trending lower, however it is completely in an oversold territory as the 4H RSI is indicating bullish divergence. Therefore this pair can be said to be in a consolidation phase. For this trade criteria to be met, the trendline needs to breached, after which the weekly pivots should be evaluated and a long trade can be placed depending on the RR. This might occur this week or next week. The initial target for this pair would be 1.16000 area (present of another descending trendline). However shall this target HIT, we can expect this pair to resume its downtrend towards the monthly psychological support of 1.15000.
Shall there be any updates regarding trade entry, i will post them in this thread.
USDCHF might aim higher shall the resistance break!A pierce of 4H candle through the swing high or the weekly R1 pivot would likely propel this pair towards the R2 weekly pivot. For this criteria to meet, we need the 4H candle to close above the swing high, retrace to weekly R1 and enter a LONG trade to target the weekly R2 pivot. Assessing the RR is very important. shall the criteria meet i will update the details in this thread
USDCHF Might Target Weekly R1 Pivot shall the trendline breakThere might be a possibility of the current descending trendline break on 4H charts, which if happens the price might move to the swing high at WEEKLY R1 pivot. Shall the trendline break, it is advisable to assess the RR and if feasible a LONG entry can be taken.
Shall the criteria meet, i will update the entry details in this thread
A TEST OF 1.17900 MIGHT BE ON THE CARDS FOR EURUSD NEXT WEEK!A possible swing trade might be developing next week on 4H EURUSD chart. a break of 4h EMA and trendline might target the above trendline that lies in the 1.17900 region. in that region other confluence factors lie as well: the D EMA and M pivot.
shall the criteria meet i shall update the entry requirement in the thread below
Is another ALTSEASON happening?The Altcoin index forms a triangle inside an uptrend channel and two scenarios can be predicted for it:
1. Break the triangle up when AltSeason starts which I hope will happen. Of course, for this to happen, it has to go through a weekly pivot resistance.
2. Failure from the bottom that we should see a deep correction in Altcoins. The failure line is accompanied by a break of the uptrend channel and has the support of Komu cloud and weekly pivot and an MA200D, so I do not expect a quick price correction.
Which do you think is more likely?
Btc weekly pivot reversionwe have developing weekly pivot around 2k lower than current price. over 90% of the time when price opens far from new central pivots on daily weekly and monthly levels... price sees a reversion to those levels. that does not mean it happens from here exactly. and price action before weekly close can both raise or lower where that level is on the close. just something to watch out for
GBPJPY - Where will we go after 150. ? 2020's bullish run into 2021 has most defintely surprised us all, but is it time for a potential reversal once we've exhausted the 150. level?
- I'm personally bearish once liquidity has been snatched between 150-150,500 where retail stops will be on last week's short sellers.
-A very interesting week or two coming for this pair I feel, has the mood changed?
-DXY strength could come into play next week, which could give that fundamental push to the yen.
-*First entry indicated is more of a potential retail buy setup and stop loss, I'd wait for a confirmation rejection from the bottom of the grey order block below before longs to 150-*
- Second entry shown gives me more confidence and confluence to take the trade depending on how momentum appears when approaching these key levels.
What are your thoughts?
This is only my perspective on potential price action that I shall be looking for over the coming days/weeks as indicated.
Eth short play inntraday + weekly pivot retracecamarilla + cpr. target target daily h3 and developing weekly pivot to be formed on Sunday close. Stop loss daily H4.
Correction will still happen. so if it does break during today the best idea would be to re enter on developed weekly H3 once formed. Or buy on the developing character.
GOLD UPDATE. WEEKLY CAM PIVOTSIt is Testing its new weekly pivot as a magnet. nothing out of the ordinary. always happens. IF it bounce off these purples levels. It will be officially trending above weekly CPR levels for a second week. Good accumulation points disguised as bearishness.
can put on tight stop. give it a go