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Exhaustion Ticket 🎫 << EthereumEth is currently trading in a tight raneg between 1874 Weekly Resistance Level and 1775 Weekly Support Level. After taking a Look at the monthly Candle it appears Eth may be out of Gas. April's 23' Monthly Candle closed in a quite exhausted fashion. The Top wick of April's Monthly candle is 5 times larger than the body of the candle. So far and through the first 2 weeks of May, we pushed up but price didn't sustain it's trajectory as it currently sits at a -2.58% difference on the Month. Bulls haven't done much which only confirms our previous thoughts. 1775 Appears to be rather resilient for the Bulls but I value the monthly timeframe over the Weekly timeframe obviously. We are seeing exhaustion at our 1831 4Hr Zone. May we revisit the Lows of the Range once again? Target for Shorts being 1795 Daily Level.
COINBASE:ETHUSDShort
by ShrewdCatfx
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
XAUUSD 17/5/23 Outlook. We caught the sells!Good evening gold gang its that time again! A great day today catching the sells for 100 pips in the NY session, great execution on the 30m close inside the zone and ran perfectly to target. Gold has now closed in the 1980s, what i said in the sunday night outlook. Ok on to tomorrows outlook .. a large drop today will require a pull back of some sort .. we are hovering the 1993 key level once again so id like to see that respected to move down but if not .. we could come up higher to the buy zone. The reason for it being high is to avoid fakeouts. The sells are tricky as the zone to the left is very messy with 4h wicks all over it .. remember to use tight risk management in the sell zone to avoid getting spiked out. No major news tomorrow so we could potentially see a low volume day, but the trade today is more than enough for the week (as long as you can keep it lol) Well done to everyone who caught the sells today, follow me for constant updates on my trades. smash the boost button and ill catch you tomorrow morning in the london session tommyXAU
OANDA:XAUUSD
by tommyXAU
3
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
EURJPY 💶/💴The Daily candle just closed at 147.58. This price was our previous Daily Level. Price is still technically in a range between this price and 146.71. After spiking up to previous Monthly High at 148.4, we rejected those extreme prices and came flying back down into the current range right now. Price may continue bearish from here and we can call it a Fakeout as price failed to stay above 147.58 Daily level initially. Returned back into the range, tocuhed bottom of range, now price is coming back up for a last retest before returning back to the bottom of the range at 146.71.
Short
by ShrewdCatfx
GBPCAD - NEW BREAKOUT 📈Hello Traders 💖 On The Daily Time Frame The GBPCAD Broke The Major Key Level (Support Becomes Resistance Level) and he Broke The Resistance Line ✔ Currently, The Price is testing 1.68195-1.68603 Support Level for Creating a new Higher Low 📈 If Price Stays Above The Key Zone, GBPCAD Can Continue The Bullish Move 📈 ----------- TARGET 1: 1.69930🎯 TARGET 2: 1.71650🎯 ___________ if you agreed with this IDEA, please leave a LIKE, SUBSCRIBE or COMMENT!
Long
by Hsan_BenAhmed
6
Correction Imminent for Liquidity? 🏔️ Eur/UsdLooking for a Correction because price is going straight up. The New 4Hr Candle may be the catalyst for an Asian Session Pullback before the 2nd London Session of the week kicks off. As we approach London Session we will see more volume arrive and anticipating potential corrective structure. The RR is worth a short although you should never walk in front of a train unless you have confluences and a good RR Idea. Anticipating corrective structure during this session and London Session. For Buyers maybe a retest of Broken Weekly Level 1.1058 for more aggressive buys. For better buys one of the previous 1Hr Zones at 1.1045 or 1.1027 or if we pull back harder.. maybe we'll consider more short term downside because it is quite early in the week. 1.1075 Weekly wick Fill from 2nd Week April is likely considering we just had a strong Daily candle close (at) 1.1045 Daily level. We closed below our Weekly Level at 1.1058. So no most optimal buy scenario for continuation here but we'll see. More Analysis: Taking Buys today throughout NY Session was straight forward as we had the NY 4Hr candle close above 1.102. This gave me confidence to take buys throughout the session. Although we had a tough time at first, we kept trading and my system ended the first trading day of the week on a positive note ( No pun intended ). Sometimes my entries are a bit sloppy as I can be quite impatient. This is why I am a Scalper however as it is more suiting towards my persnaility anbd trading style. However, Risk Management is especially significant with a scalping strategy as although wins come faster same do cost's of business.
Short
by ShrewdCatfx
EU Slides 🛝 and Dollar ReignitesPrice is currently In a Range between 1.0952 and 1.0988 on the 4Hr. We have extreme short term prices at 1.10. We have multiple wicks here and we can bet probably that there will be a downside reaction for bears after we hit this area. It is also a psychological area for everyone on all TF's. Hawkish remarks by Fed recently don't necessarily appear to have drastic short term consequences but we may quickly have that answered as we begin the new week. We have price funneling up on the line chart on our intradday charts. We have alot of free liquidity waiting to be realeased if we can close and hold above 1.10 extreme prices//psychological area. 1.0871 is weekly target frr bears, the next daily zone below prev strucutre
Short
by ShrewdCatfx