XRPUSD set up. 1) retail trend broken 2) low was broken 3) price came back in 4) now im waiting for re-test of breaker block, where my OTE (optimal trade entry is) Fundementals such as the FED and IMF involvement play a big role in this, watch out for news releases by CEO of Ripple, Trump, IMF and relating factors Also drop your opinions please :)
Due to basic price action respecting the strong downtrend movement, i believe it will follow this set up. confirmations/confluences: 1) trend touch 2) Fibonacci level 50-38.2% 3)previous respected zones 4) candlestick formation at trendline touch TP - 144.800 region Please leave a comment with what you think and if i have missed anything. we are all students,...
Trend analysis: Downtrend 1H TF Due to basic price action respecting the key Fibonacci levels of 50 & 382% within the current 1H chart downtrend, i believe the next move will follow this set up... My Confirmations: 1)trend touch 2)previous zone touch 3) 50-382 % fib level respect 4) possible candlestick patterns forming at the trendline touch to indicate sellers...
couple confirmations of mine: mini head and shoulders formation on 1 hour TF daily trend line touch fibnacci levels 618 matched higher lows forming on 4&1h time frames. 1H up-trend line breakage should be a good swing
purely advice... dont take action without analysing XAUUSD yourself. simple market geometry and price action trading personally i dont use indicators. ANALYSIS: -weekly closer as a pinbar/hammer or whatever you want to call it, indicating for a reversal. -Daily closure today showed a huge bullish engufing candlestick, breaking out of a 3/4 day consolidation zone....
Hey guys my first time posting, please comment your thoughts and opinions and feedback, I'm always keen to learn your ideas. Top down approach: Daily: Hitting major resistance area, price reversal zone and RSI at 70% ready for a move down. 4 hour: previous trend broken, new lower lows formed, retested 1.00300 zone between a 50-61.8% retracement and almost 4th...