I have this awful feeling this is a bit of a bull trap. Reasoning:
1. Weak Dynamic pressure on weekly TF
2. Major 61.8 support on monthly held on first test. I always except wash and rinse of these areas before actual reversals because so many retail traders would hide stops under there.
Keep an eye or Eur-Aud for a potential DRPO sell on the Daily. High concentration of net retail shorts on this pair has me a little nervous though. Interesting setup still with a very good R:R
Hey Guys,
I thought id share this chart for anyone interested in BTC/USD 4H. There seems to be an attractive looking 3 drive reversal which looks very good technically. What do you think Sive?
There is also WPR1 and DPR1 in this zone.
Hi Sive,
Thank you for this. Also do you think it is significant the weekly Pivot Point has not been traded yet? It could attract the price and get us close to the 382 retracement.
As far as i know, it is still not an entry point for a trade, but it adds some weight to the bearish argument on the daily TF on EUR/USD.
You should try to keep an eye out for this. I think Joe's logic is that traders try to capitalise on fast moves, and try to enter carelessly when price...
Its something that was taught at a recent Dinapoli seminar that i went to. "reaching" happens when price reaches out at an acute angle to cross the MACDIP. You are not familiar with this?
Reaching Fail happens when price reaches (at an acute angle) to cross the MACDIP, but the subsequently...
Hi Sive,
Thank you so much for this analysis. I want to add though, I feel increasingly bearish (even on the short term) on this market.
1. Emerging weak dynamic pressure on weekly time frame.
2. Reaching Fail (also considered weak dynamic pressure by Dinapoli) on the daily time frame.
Do...
Re: OIL
There is a nice looking butterfly Buy on 4H
There is a nice looking Megaphone (Expanding triangle) on 1 H
Both these are reversal patterns that could trigger some retracement. How deep we do not know of course! (Maybe finally enough to give us B&B on Weekly) But now is not the...
Some sort of DRPO?
Hi Sive,
Is there some sort of DRPO Buy happening on Daily XAU? Even though the first close above 3x3 is a bit deep, and LPO has already been achieved in ABCD move up. Maybe it has a chance to move up to atleast 0.618 of thrust down?
Thanks Sive. Great analysis.
I think the AUD-USD also has a chance to form Stop-Grabber on the monthly, targeting 95.00 area. Maybe DRPO will trigger further upward continuation? Do you have any thoughts?
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.