TheSnowballEffect

TheSnowballEffect

We have reached a higher timeframe support and we have already bounced from it. I am therefore looking for the consolidation to break to the upside to enter long. We can also see that the RSI is in a downward channel and will likely be breaking upside. Here is the longer timeframe support. It could still bounce on the next POC level before going higher... ^^...

TheSnowballEffect Updated 

Everywhere that there was a higher high forming is where people put their stop-losses. So once price starts it's rally downside, it will gain momentum. It will be taking the short liquidity from all the stop-losses put in place by the slow upward price action. If we look at the VPVR on the left, we can see that smart money have been accumulating their position at...

TheSnowballEffect Updated 

Price at the top of it's range due fror a correction again. Because in the longer term, we are still in a big range Here is the longer term range I am taking my profits quickly because a wyckoff "trench" spring has just been formed and this could easily be the beginning of a new uptrend phase.

TheSnowballEffect

USDCAD has been accumulating their longs and is ready to make a move up. The consolidation is very likely an accumulation because the RSI has been going up during all this time. The overall longer term weekly trend is still down tho, so I am expecting a reversal at the next order block.

TheSnowballEffect Updated 

Price is getting really tight and we might easily see another push up to go fill the imbalance at the highs. We have seen a very long consolidation compared to the time it took for the price to rally. The longer the consolidation, the bigger the move. The chart speaks for itself.

TheSnowballEffect

Price looks like it will break the lower trendline. If it does so, I would start a new downtrend. This is a JPY pair so it respects trendlines very well. First partial target will be the lower POC level.

TheSnowballEffect

This is the 4th time price is testing the horizontal level that has been created in a no man's land area if you look in the left. So my theory is that it should bounce just a little to catch buyers on the wrong side, and then taking out everyone by crashing through the level, and subsequently going lower. The RSI is showing the same picture. It has already broken...

TheSnowballEffect Updated 

Normally this would be a fading trade, price moving lower and lower, but we can see that the last bull candle suggests otherwise. I think it is a bounce off the low of the range that has formed. The bull candle formed a higher high and thus took people out of their shorts. We can also see that the RSI is breaking up the trendline and also has a strong base

TheSnowballEffect Updated 

Overextension to the downside. Price reaching the last point of aggressive upward thrust and is likely to reverse at that point. Blue trendline being manipulated, taking liquidity from stop-losses. RSI has formed a range and the value is now at the bottom of its range, ready for a bounce. Here this entry with a stop-loss at the last lower low would make this a...

TheSnowballEffect

Price overextended and reaching major last consolidation zone where there will be selling pressure. We can see RSI diverging down from price, showing us weakness is creeping into the market. Stop above where the selling pressure would be invalidated and price would continue upwards.

TheSnowballEffect

A lot of selling pressure is happening right now. I think it might be nearing the end of its longer-term uptrend.

TheSnowballEffect Updated 

Weekly

TheSnowballEffect Updated 

I have drawn in green and red the underlying parabolic trend barriers that the price has been following. We can clearly see that both curved trendlines have interjected each other, signaling the end of the structure. I think the new structure will begin to the downside because the green line has been broken but not the red one. There is also an ascending wedge...

TheSnowballEffect

Price has reached the previous order block where the last directional initiation was created to the downside. I am expecting the price to start going to the downside from here. We are also in a debt bubble/crisis that is ready to burst at any moment. The markets are artificially lifted up by government funding. This is not sustainable as the actual economy has...

TheSnowballEffect Updated 

RSI going up. Waiting for the manipulation of the last horizontal support level for the creation of an upward spring before entering long. Price is reaching multiple longer timeframe trendlines. 4H chart:

TheSnowballEffect Updated 

Price likely to reverse on POC level from where the last major aggressive down move began. Simple. Because EURUSD is an extremely liquid and efficient market, it tends to respect these liquidity areas pretty well. This would be a 6.5RR trade, but I will continue to monitor it base on the context witch is continuously changing. :)

TheSnowballEffect Updated 

NZDCAD is ready to break out to the upside after it has been accumulating longs at a low level. We can see there is no more imbalance to be filled at the bottom and there is a huge imbalance to be filled above. We can also see a Head & Shoulders, confirming the reversal

TheSnowballEffect Updated 

Short term reversal to the next resistance level Based on the convergence of a higher timeframe trendline and the POC level from the last consolidation + RSI divergence. Overall Uptrend This is not a AAA setup because the reward is small if you take into consideration all the resistance it has to go through (highlighted in purple). To me, the sellers are getting...