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Momentumstrategy

A New week and Eu continues the descent 💎Eurusd is currently jumping around inside a tight intra-day range. Eurusd appears to be rejecting our 4Hr S/R Zone and maybe EU will turn into another textbook opportunity to sell a resistance zone in a downtrend. We have bearish momentum and a wick to fill on the previous week's bottom wick. The previous week's bottom wick currently stretches 45 pips that we can easily go fill. London Open appeared to want to drop to the downside but the market was not ready. For New York we have returned to the top of the range and the bulls are struggling. The NY Open 1Hr candle attempted to make a move up but ended up leaving a wick and closing back inside our 4hr range between 1.082 4Hr Zone and 1.0806. A tight knit 14 pip range possibly distributing to the downside. Another clue is the 4Hr candle that closed 1Hr ago, failing to close above 1.082 4Hr S/R Zone. The Daily Candle has been bullish but the upside has been limited due to our 4Hr 1.082 Level. (Sellers are protecting this area) The Daily Candle keeps testing buyers as it threatens to flip at our 4Hr Support level 1.0806. This is where the market opened at Asian yesterday and if 1.0806 4hr zone doesn't hold then we will be looking towards a retest of 1.078 1Hr Zone in which we would be filling the previous week's bottom wick with momentum. Momentum that has been carried over from the previous week. Looking for this price 1.078 soon or we may range longer and will have to re-evaluate.
Short
by ShrewdCatfx
Keep it Simple🧧 4Hr Resistance Zone in a Short Term Downtrend ₿It is Safe to Say that after looking at the Weekly chart, Bitcoin will likely see more downside to come. We can observe Bearish market Structure on the Weekly Chart. A LL on the second week of April(27,566$), a Lower High on the first week of May (29,236$) and now a New LL (26,931$) on the Second week of May. Price is stair stepping it's way down. Gracefully. But with that said we may see a fierce drop to come as we have seen in Years Past on BTC. We can recall that when investors and institutions dump BTC they do not hesitate. The Daily Candle is About to close Bullish. However we can at least anticipate a Lower wick and bounce off our 4Hr Zone 27,430$ On Monday of this week Price respected our 27,600$ Weekly S/R Level. Price in Medium Term has eased off our June 2022 30,000$ Weekly S/R level and is pulling down. With clean traffic to the left on the 4Hr Timeframe I can visualize price dropping once we return to 26K again. Our Next Stop on the Daily timeframe will be 24,374$ . For Buyers we are at the extreme lows of our Daily Range between 26,700$ and 30,500$. Price is testing the extreme Lows. Will Buyers step in to protect these Medium Term Lows or will BTC print fresh lows alongside the Stock market as Inflation stays steady above the Fed's 2% Target. I think at the Bare Minimum we can anticipate a Short term range between 27,600 Weekly S/R level and 26,700 Daily Level. We are selling the top of the range. Not Financial Advice For Educational Purposes Only. This is Price Action combined with Multi-Timeframe Analysis.
COINBASE:BTCUSDShort
by ShrewdCatfx
Stubborn EURUSD protects 🛡️1.076 Daily Level FOMC Meeting Minutes is coinciding with a touch into our Daily Support Level that has held since last Thursday. It's almost been an entire week since the decline has been halted. Yesterday we created a publishing about a potential double bottom, but we may have jumped the gun so to speak. The market may have needed more time to accumulate long orders and trap short liquidity. The Market appears to keep banging its head stubbornly against our 1.076 Daily Level. This morning thus far we could observe a volatile 40 pip range between 1.0795 and 1.075. Day traders have been having a hell of a time. This market reminds me of the FOMC Interest rate announcement about 3 weeks ago. It was a volatile range and turned out to be the turning point in favor of the bears for Eurusd. The market used FOMC as a turning point recently and I think we may see another occurrence as the market shakes out Buyers and Sellers with this volatile price action. Similar to the CPI news shaking out weak sellers 2 week ago, this market may increase. The price is low but the Sellers don't look necessarily persistent in their effort to sell into the 1.076 Daily Level. The Buyers on the other hand are happy to go long at our Daily Support Level as it offers great risk to reward. Price is has made a new low during London but was quickly bought up at our pre-planned 1hr support zone 1.0749. I liken price to return to our 1.08125 Daily Level as we continue to see a volatile range and fight in the 1.07's for Eurusd. I've struggled in my scalping of Eurusd this week and attribute it to psychology. Trading psychology is a very large part of trading and requires constant attention. It must be managed properly and is a skill just as developing a profitable system that suits your personality. It takes time to understand your weaknesses and strengths as a trader. This week I've had a particularly difficult time managing my weaknesses. Time and Patience is the greatest warrior and so I will come back stronger at a later time. Safe trading.
Long
by ShrewdCatfx
Eurusd : Double Bottom [ Daily level 1.076 ] ⛽There is a good probability that Eurusd will create a double bottom structure at 1.07597 on the Daily Timeframe. Here on the 1Hr we can observe a Low formed at the bottom of structure and is bouncing hard. I am anticipating a sort of double bottom structure here on EU. EU is flat after PMI data was released. Data was expected to be generally good and it turned out to be mixed. -This news release lines up with a retest of our Daily Level 1.07597 -The recent 4Hr candle just closed at our 4Hr Support/ Daily Level 1.07597 with no bottom wick signaling to me that there is profit taking for the bear occurring. -After 1Hr of Price action the current 4Hr candle didn't hesitate and has just gone straight up. -The bottom wick for the new 4hr candle thus far has been very minimal. - The 1Hr Candle just closed bullish at our 1.078 1Hr Zone -Often times at the 7am PST candle you can observe a continuation of the previous trend . ( In this case confirmation of a bounce off our Daily level 1.076 -We have clean traffic on the 1Hr chart back up to 1.08 where we may run into some trouble in the short term More Analysis: I bought the low price around the time when the new 4hr candle was opening and earned nearly 1% on the account. I don't necessarily think going short at Support is a wise thing unless you really know what you are doing.
Long
by ShrewdCatfx
Going with --> Gut Feeling/Spider Instinct🕷️/Sixth Sense The Weekly Candle closed bearish last week. This created the second weekly bearish close in a row denoting bearish momentum. 1.0866 Weekly S/R Zone is no longer relevant. Our Relevant weekly level's now stand as -Weekly Resistance Level : 1.1024 -Weekly Support Level : 1.06647 Our Daily Level's stand as - Daily Support Level : 1.07597 - Daily Resistance Level : 1.08739 I think it's reasonable to see some selling pressure to start off the trading for this week. Or may we at least anticipate a double bottom sort of structure and retest of our 1hr Zone 1.07802
Short
by ShrewdCatfx
3
📉🐻 Seize the Opportunity: GBPJPY Sell Signal Unveiled! 📉🐻Traders, get ready for a thrilling prospect as we uncover a compelling bearish setup on GBPJPY, observed on the 1-hour timeframe. It's time to harness the power of a megaphone pattern and capitalize on an accumulation of sell orders, presenting an ideal opportunity to go short when the neckline (lower structure) of the pattern is breached. Our trading journey begins with the recognition of a megaphone pattern, characterized by widening price swings. This pattern signifies an accumulation of sell orders, indicating potential downward pressure on the GBPJPY pair. Keep a close eye on the neckline, as a breakout could trigger a strong bearish move. As we navigate this setup, it's important to identify key levels. A minor resistance lies at the 170.000 level, presenting an opportune moment to secure partial profits. However, our ultimate target resides at 169.000, reflecting our expectations for further downside potential. This level serves as a focal point for our bearish ambitions, offering an attractive destination for traders seeking larger gains. Let's delve into the increasing bearish momentum. Recent price action has revealed notable bearish candles, suggesting intensified selling pressure in the market. This trend, combined with the optimal entry point provided by the neckline breakout, sets the stage for a potentially fruitful trade. Now, let's add a touch of fundamental analysis to our analysis. The yen's reputation as a safe haven during times of economic uncertainty adds another layer of appeal to this bearish scenario. Furthermore, with the US approaching the deadline for its debt term on June 1st and the absence of an agreement to increase the debt ceiling, large investors and hedge funds may be inclined to short the GBPJPY pair as a strategic move. Therefore keep an eye on 171.000 level acting as a support now, and be ready to short when it breakdown Join me as we seize this opportunity, embracing the potential of the GBPJPY sell signal. With careful analysis and an understanding of market dynamics, let's navigate the markets with confidence and strive for profitable outcomes. Don't forget to press the like button if you think this insight was helpful 📉🐻💪
Short
by Thomas_Zito
Lower Lows.. More Low Prices to end the Week? 🚠 Eurusd Eurusd is going down. Will it continue to go down is the question? We are at the Extreme Daily Level 1.08392 of our larger Range. The Daily Candle just printed almost exactly at our Level. Not above nor Below. Bear Market Structure still Maintains itself So long as a 1Hr candle doesn't print above 1.0872 on the 1Hr Timeframe. Unemployment Claims Data is expected to be positive for the USD during the Next NY Session. However the Unemployment Claims data since February has been increasing more and more as more people file for Unemployment. Not a good sign for the Workforce. Maybe this is is more of an excuse to buy our Reserve and Safe Haven Currency .. the U.S. Dollar. The News release may be the catalyst for a continuation of momentum to the downside + Another Lower Low printed in Market structure. The price I like for a weekly Bearish target is 1.07925 4Hr Zone Our Bullish Eurusd target for the end of the week is 1.0872 Daily level. We have our Level's plotted and will use Technical Analysis to create good Risk Reward Ideas. The market is random after all and we can only use our form of technical analysis to manage risk.
Short
by ShrewdCatfx
1
Unemployment Data was a Catalyst for more Eurusd Downside 🚅The Weekly Candle is now plunging down into a Free Fall. Unemployment Claims Data was poised to improve with 10K less people filing for Unemployment. The data was better than expected as more than 20K less people filed for unemployment in comparison to the previous period. In previous posts I talked about how this may provide a continuation for further downside and more Dollar Buys to come (More Eurusd Sells to come). This occurred and so now the question is if Momentum will continue to help Eu Fall to the next Daily Zone at 1.07598. Our Weekly Target was just hit at 1.07925 4Hr Zone but price may keep dropping hard. -The Weekly Candle last week Printed bearish below our Weekly S/R Zone 1.0866 - The first two days of this week saw Euro buyers to not be able to sustain themselves - Price was gathering liquidity setting up the move for later in the week which we are seeing now - Price did a perfect break and retest at 4Hr level 1.08462 and returned back to the lows at 1.08150 1Hr Zone just prior to news -Looking at the 4Hr Timeframe we can at least expect an 8ish Pip bottom wick on this NY 4Hr Candle -Look at the sell pressure, price keeps dropping and I'm looking towards 1.07592 Daily Level to end off the week from here
Short
by ShrewdCatfx
1
Shaking it up 💵 Can you close Below 1.08392? EurusdIt took a Few Days before Price was able to punch out a new Low after Printing an Engulfing Candle on the weekly timeframe last week. The candle engulfed almost 5 weeks of previous gains by Bulls. Price corrected to the S/R Zone 1.0866 and pulled back from our Quarterly Highs around 1.103- 1.108. The Next Weekly Level sits a 1.06650 which currently sits 170 Pips away. We do have unemployment data during the second to last NY session of the week tomorrow. We'll see how the American workforce is doing. This news release can be a catalyst for a continuation in trend to the downside. Our Last Daily Support Level that I can see being tricky will be 1.08392. If the Daily Candle can close a solid candle below there, we can expect more downside to come. Maybe it can also act as a good Break and retest level for Short Entries. But first we must observe the Daily Close. One guy has a swing entry from 1.086 and another guy has a swing from 1.082. Both Short Entries. Both are Good traders. All of the gossip and panic about institutions dumping the Dollar. You would've missed this 200-250 Pip Short trade from the Highs that coincided with hawkish FOMC data. Thinking there may be more to come. We have creased below all our Daily Level's -1.08607 Daily Level created on Monday -1.0853 Daily Level created on April 11th -1.08392 Daily Level created on April 3rd The next Daily Level sits at 1.07592. A good technical indicator for the Daily candle is it closing with a larger body then a bottom wick. We would like to see bears protect 1.08392 What is concerning is that we may have alot of shorts piling in now. Are they Late? We will see. The market is not going to feed everyone so we may see a hard pullback up to 1.08742 Daily Level once again Unemployment Claims has been climbing since February 7th of this year. It is expected to be a small improvement over the last period. If the Daily Candle can pull back up and close above 1.08607 Daily Level that was created on Monday, Definitely Buys on EU here, good RR back to Top of our Daily Range , first back to 1.089 4Hr level We would want the bears to Ideally respect the Break and retest Level 1.08462 on the 4Hr timeframe. The 4hr Is about to close and is closing below 1.08462, good for bears
Long
by ShrewdCatfx
2
Riding 🏇 Manufacturing Data 🎯 2%+ Risking --> [ .30% ]Last Week the Weekly Candle closed Bearish but with no wick Last week the Candle closed below Weekly S/R Level However, the candle closed in between our two Daily Level's Manufacturing Data Was Expected to be negative for the USD Red Folder News and in theory good for EUR Strength Price had been going up on EU since the new Weekly Candle opening yesterday. From Experience I was anticipating an early in the week push up away from our previously mentioned Level's. The Red folder news was a catalyst for a continuation of momentum. From here we can anticipate a continued early in the week push or Consolidation structure as NYSE Open falls back to our mentioned Weekly and Daily Level's. I can see price holding these level's for a few sessions because the Bulls have a great interest in protecting these levels. Or else EU will fall back to 1.076 rather easily Weekly Target for Bulls if we hold these levels is 1.0948 More Analysis: I observed that London Session had a nice bullish breakout. Price had pulled back for the new 4Hr candle leaving a wick to fill in momentum and additionally to create a bottom wick for the new 4hr candle. So it could blast off like a spaceship away from our previous mentioned levels. Zone to Zone. My TP was at next technical level 1.0889 1Hr Level
Long
by ShrewdCatfx
XAGUSD Spot Silver - Is it ready to reverse up?Spot Silver dropped this past week about 6.5 % from its high early in the week. On the 15-minute chart the drop occurred over three days. XAUUSD is now underneath the POC line of the volume profile as well as the negative bands of the mean anchored VWAP. The Mass Indicator and faster / slower MA ratio indicator are both near the zero line showing that bearish momentum has subsided and a reversal may be underway. Overall, I expect a reversal with XAGUSD seeking the mean. The first target is the POC line confluent with VWAP so 25.08 while the final target is 25.55 being the redline demarcating the top of the high volume area. I expect this to be a 1-2 day trade with high potential reward especially if leveraged on forex.
OANDA:XAGUSDLong
by AwesomeAvani
Believe in the Gods! -->🔱--< But do not count on them for help Dollar Bulls Take the Win? We have dropped below our Last Daily Zone at 1.09219. I have been talking about dollar bulls Since we had FOMC data coincide with our extreme highs at 1.1095. A Coincidence? I thought this may be Suspicious! And it turned out that way. That was a good tell for the beginning of this descent. FOMC was last Wednesday and dollar bulls have blessed swing traders with 190 Pips in 1 Week. Everyone says EU is Weak in comparison to the # of pips it gives to most other pairs... It Doesn't give that much , heh 😉. It Respects level's very nicely! Very clean price actionnn. From a Technical Standpoint.. As Long as we stay below 1.09211, only sells for the rest of week. The Price I like are 1.0897 as the next Pit stop. Ultimately with Friday's daily candle I'm liking 1.0866 Weekly Level as mentioned in previous publishing's. Also I like the Daily level just beyond that at 1.08535. As long as NY and our last remaining 4Hr Candle prints below 1.09219, Sells are fantastic. I would prefer that we waste no time and close below 1.09112 4Hr zone. Trading : Trading today went quite well. Looking at my data.. my Thursdays are typically good. --<< I've seen that remark impact my trading psychology before. The brain is a wonder. Managing trading psychology is a large part of trading. Given that I am profitable, I still cut my winners a bit short sometimes. Why? Out of Fear. Complicated.. But for now we must stay consistent and discplined to the system. the trading plan. 3 Setups today.. The First one I ran because i was scared and closed for B.E. It would've been a nice +5 Pip scalp. The Second was a great. Just closed a little early. The third was a great! Closed a little early once again. I can complain because green is green. Profit is profit and we must learn and move onto the next day. On Thursday's.. 1. The Market sets itself up early in the week. By the time Thursday comes around, the weekly candle is ready to extend itself in the preceding direction from Monday/Tuesday Etc. 2. New and Struggling Traders are Tired and Exhausted from trading since Monday. They begin to make mistakes and become sloppy with their execution. Leading to larger losses than are necessary. I have been there.
Short
by ShrewdCatfx
[ CPI ] : A Catalyst for Optimism? 🏳‍🟧‍⬛‍🟧- The Weekly candle pulled back up after creasing last week's low - The Daily Candle yesterday closed in between our Daily Level's 1.09715 and 1.09495 - This was good for bulls as I mentioned because we closed above 1.09495 - Either way Eurusd was still technically inside our overarching Daily range between 1.106 Daily/Weekly level and 1.09495 Daily Level - CPI Coincided with a Bounce off Daily Support at 1.09495! How Beautiful. I mentioned this occurrence in my update on my previous 2 Posts. CPI decreased signaling optimism for markets. Inflation is decreasing and is on a smooth downward projectory. -Now will we observe a continued change of character with CPI data as the catalyst. We reject our lower prices and bottom part of the range and go back to 1.106 Daily/weekly Level. -Our first pit stop to the upside being Monda's Daily Level at 1.10226? -Price is currently at . If the Daily candle closes like this I say yes. But we must observe how the daily candle closes and if there is a follow through after the Initial bounce from CPI on the 1Hr TF. -The 4Hr Timeframe closed beautifully rejecting our Support areas below + We must observe if the 4hr zone which coincides with our daily level at 1.09715 can hold for more upside + We must consider that we often see a correction of news price action. It can take 2-3 Hours, 1-3 Trading sessions , or 1-2 trading days. We would observe a correction down to 1.09456 More Analysis: Trading went well as I earned profits with reduced position size due to increased news volatility. I made a few mistakes but overall I can't complain with a +.65% profit on the session and and similar +.60% gain during yesterday's Asian Session. It makes up for the tough trading Day I had on Tuesday and plus some. I do want to learn from my mistakes so I will be doing some further reflecting .
Long
by ShrewdCatfx
Are Crypto Bears in Denial? Eth 🌄Is this the Bull Run we have all been anticipating? Or Does Price need more time to accumulate above 2018 Highs. Ethereum has been trading in between 1942 Daily Level and 1785 Weekly Level for nearly a Month now. Price has spent 70% of the time inside this range. It spiked to the upside and stayed above the range for a week as some buyers Took Profit and shorts came in to flush out late longs. Price printed an engulfing candle on the Weekly Timeframe as price retreated back into our 1942 to 1785 range. We'll see if this bullish movment can sustain itself.
COINBASE:ETHUSDShort
by ShrewdCatfx
Would like to be proven wrong Bulls! Eurusd 💶We have printed two Bullish Monthly Candles back to back. The first week of this current monthly candle for May 23' has closed as an indecision candle. I am gravitating towards the Bull side but would not be surprised to see more of a sell off after the May FOMC decision The FOMC decision to raise rates by 25 basis points coincided with our extreme highs of the Year around the 1.105 Weekly Level In a way I want to be proven wrong on the Sell Side for EU. I want to see Buyers stay strong around our extreme Highs here in the 1.10's and not be phased by a short term descent in price as FOMC price action settled after the initial announcement. I would like to see buyers at 1.09718 and 1.09480 Daily Level's be taken out before any more of an ascent occurs. The Price I'm looking for is 1.09176 Daily Level. To begin the week before CPI data on Wednesday I will be looking for price to pullback but will be happy if proven wrong instead with price displaying a quick ascent back to 1.1095 and beyond with CPI numbers.
Short
by ShrewdCatfx
Buyers want 1.1024 4Hr Zone Holdd.. before potential Avalanche ⛄Scalping, Scalpingg. Has taken my heart. Discipline and Patience. Aggressive when it times to be aggressive. Fearless when it's time to be fearless. Trust in thy system and process. And Gold to be attracted to thy pocket with time and accumulate in ever increasing quantities. Will bulls hold 1.1024 4hr Zone? Or as the Daily candle flips bearish at 1.10239 will bears take us back to Support on the daily timeframe once more at 1.09718. 1.10148 Current Daily Low being the current Daily Low --> 1.10148 is a 1Hr Zone and our last potential Support before I see Sellers taking over once again. The 1hr timeframe and 4hr timeframe have clean traffic to the left hand side and we should mirror those as we go back down. CPI on wednesday will most definitely shake things up. Early in the week we have seen the market be proped up by Asian session buying. Will this buying pressure be sustained? Bulls + Monthly Candle is Bullish + New Weekly Candle gapped up and is Bullish + Friday Daily Candle Closed bullish + the first 1hr of our new 4hr candle jsut closed Bullish above 1.104 + 4Hr market structure is Bullish + A bullish Asian session to begin the week. Price has been consolidating since London Session open with 1Hr candles printing in a tight range +De-Dollarization appears to be more evident than ever Bears the 9am GMT 4hr candle closed below 1.104 4Hr Level Price is still holding steadily below 1.10590 Weekly Level Price is leaving a Top wick appearing to reject Daily Level 1.1059 The weekly candle last week printed a Lower Low and a Lower High on that timeframe.
Short
by ShrewdCatfx
💵 Dollar Buyers Pile Back in with NFP DataWell Dollar Buyers Piled back in with positive Jobs data. Eurusd returned back to the bottom of the range for the 3rd time in 2 Weeks. Our Daily Levels being 1.097 and 1.095. Quite the week for Swing traders and Scalpers playing the range.. Like who cares about breakouts anymore 😂. We were anticpating this data to take us out of the range and up to 1.115 but that is for another day. The Weekly candle will either Pullback up or continue dropping to end the week. It appears that we may be going to correct the NFP release at 1.10111. This occurs a majority of the time. The timing can be quite tricky however. I've seen it take 2-3 Days or 2-3 Trading Session or even 2-3 Hours. Yes, or even less than an hour. Either way have a great weekend. No trades today because the sum of my Previous 5 Friday's were profitable BUT only on 20% of the days. I had a Big Friday in Late March which brings the sum of my recent Friday's to a positive. If I had traded today I would have done well. But as mentioned previously the majority of Friday's are a Small Loss or Break even. It's Friday and even though I'm overall up on the sum of my friday's, I would rather save my energy and go enjoy the weekend. This doesn't mean that I can't still watch the charts. I did. I had a B.E. week. It's better than a Losing Week! Another week of experience under the belt. Safe Trading.
by ShrewdCatfx
May FOMC announcment 🫨Do we have enough steam to take us to 1.11500? Anticipating that rates stay the same and that the May Decision is Bullish. Planning since Staurday this past weekend that we may be onto something here. My Belief is that May Decision is viewed as an Optimistic data point. Preparing for a fall to 1.086 if not the case. Safe Trading. I'll be looking for opportunities about 1hr after the announcment once we have momentum and determined the direction with lowerd lot size and FOLLOW you TRADING PLAN. Okay good luck and safe trading.
Long
by ShrewdCatfx
2
Will the floor hold as volume decreases and reality sets in -> ₿We have 2 Bearish Daily Candle closures back to back to end off the Weekly Candle. The Weekly Candle is closing Bullish. With a top wick. The Top wick is currently -3.18%. The candle body for the weekly candle is +5.5%. 2 Weekly Candles are now closing below 30K Weekly Level that was created during May 22'. Anticipating a correction to previous Daily Candle Low at 29,058. Next stop may be 28.8K 1Hr level. Price is currently sitting at a 4Hr level 29,150$. Considering the timing, The Weekend, Asian Trading Session, a New Daily Candle. These are some confluences I'm considering for a short term correction on Bitcoin ₿
COINBASE:BTCUSDShort
by ShrewdCatfx