Waiting for market structure to become more obvious Hello friends, hope you are well
On the higher time frames, there seems to be a little work that needs to be done
On the lower timeframes we are DOMINATING
If you'd like to be a front runner, speak to me and lets do this!
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Timeframeanalysis
EthereumI'm finding myself gravitating more towards this crypto over Bitcoin, and that's mainly due to Ethereum's price. I'll explain my chart along with what I'm anticipating.
What am I anticipating?
Price is currently breaking a key lower-high on the weekly, which happens to also be the same area as the monthly (key) lower-high. Once that bull candle closes pass those levels at the end of today then the weekly turns bullish.
Normally, price would run into an old key area in order for the retracement phase to begin. I'm looking for bull continuation to spike the A.T.H. and $5000 price point followed by a correction right into my area of interest (A.O.I.).
Do I have a "special" price within the A.O.I.?
I actually do! $2400.
In conclusion, I'm merely a spectator until the bears enter the market to drive price down, and if that doesn't happen due to bull momentum, I'll readjust.
M - 🐻
W - 🐻 *If today's candle closes above the key LH, it turns 🐂*
D - 🐂
H4 - 🐂
Nifty Higher Highs! Nifty has been seen gone bonkers and making swift moments upwards, without giving any breather to option writers. India VIX too marching along nifty(as suggested in previous post).
Here in this study, on the left, I highlight the fund managers' chart or Quarterly Chart of Nifty. With help of #Elliot wave principles, I have marked the #Fibonacci Extension level on the lifetime chart of Nifty. Interestingly, Fibonacci levels have acted as major #Resistances. We have see big corrections only at these levels. We had expected Nifty to spend some more time at 2.6 Fib levels or 18000. But, Nifty has surpassed this 2.6 Fib Level and now heading towards 3.6 Level or ~24250. Before that I do not foresee any major correction! Note how Quarterly 50 EMA as been the lifeline or rock solid #support, even in time of distress.
On the right, is the post-covid rise of Nifty on Monthly time-frame. I have plotted EMAs and MACD. Very beautifully price has mostly been above monthly 5 EMA to continue its upwards journey. Monthly 13 EMA and 26 EMA have acted like good support, ideal for swing entries. Currently price has broken out of the 2023 #Flag&Pole pattern. Zooming towards the next Target ~24250.
Here I would like to draw your attention on #MACD. The rise after the covid-fall had given us positive crossover. And it is only now that we are getting a positive crossover which has now sustained with the flag breakout and aiming upwards. Isn't it a great confirmation.
It is buy on dips all the way, provided you get those dips now ;-)
Note: Current Monthly candle is still a running candle. It can even close at lower levels or turn negative. So is the case with the Quarterly candle. But this will not change our view. Our view will still be bullish towards our next target ~24250, just that the momentum might get slow and that we might take more time to reach our target.
Coinbase"Cathie Wood’s Ark Investment Management, the second-largest holder of Coinbase Global (COIN) stock, doubled down on its investment in the crypto exchange after the U.S. Securities and Exchange Exchange sued the only publicly traded crypto exchange sending share prices tumbling.
ARK bought 419,324 shares of Coinbase, worth around $21.6 million based on Tuesday's closing price of $51.61." -Coindesk
......
Considering that this company's stock price is near it's lows, I can see why Ark Investment Management would make that move.
I believe the shift begins once there's a break of the $67 level. Afterwards, it's next potential hurdle could be the $190 - $230 price range. However, I'll be even more bullish after a break of the $320.
AVAX/US DOLLAR These are levels that I'll be keeping an eye on when dealing with BINANCE:AVAXUSD , and I'll revise as price action progresses.
I adapt to the change in money flow.
Fundamentals:
Amazon Web Services (AWS) has partnered with Ava Labs in a bid to accelerate the adoption of blockchain technology by enterprises, institutions, and governments.
The move has sent the linked Avalanche AVAXUSD token soaring higher in recent days, outperforming even Bitcoin amid a major bull run in the biggest cryptocurrency. *OLD ARTICLE*
.....
Monthly:
1. P.A. broke a key low
2. Demand (untouched) below broken key low
3. Key S/R being revisited for 1st time
4. Key S/R rest within untouched demand
CADCHFNot too long ago I had published an idea about the $FX:CADCHF. Go check it out! However, I never took my eyes off of it, and due to that it made me dig deeper from a higher perspective... I came to the conclusion that this particular pair recently experienced something that's more than likely going to shift it's momentum for some time.
My reasoning..
Daily:
1. P.A. swept EQ highs
2. V shape pattern (bull's favor)
3. Bullish market structure
Weekly:
1. Strong bullish momentum after lowest point in the market.
2. Demand formed (untouched)
3. P.A. is set to reclaim a previous key level to the upside.
4. Triple key lows swept (liquidity grab)
Monthly:
1. After break of current L.H. (0.6898) the trend flips.
2. P.A. hit lowest levels in the market a couple months ago.
For these reasons I am bullish. Even though this isn't a currency pair I track & trade, this is me making an exception. I am publishing this for me, personally, but feel free to tag along if you like!
P.S. If ever curious about anything, ask.
Long Scalp on ETHAfter the daily made a bearish push to the downside I wanted to see how price reacted to the 38.2 prz level. on the 4H, a hammer on top of the 38.2 fib as well as support. Breaking things down to a lower timeframe I had a correction trendline drawn from the latest swing highs. Price had broken the correction trendline and began up trending on the 15min and 30min chart so i bought with my stop loss being below the 30min low. take profit at -27.% from that 38%.
Canadian Dollar/Swiss FrancThese are levels that I'll be keeping an eye on when dealing with $CADCHF, and I'll revise as price action progresses.
I adapt to the change in money flow.
I do not trade this particular pair. However, I analyze multiple assets across numerous financial markets for muscle memory purposes. Feel free to watch this play out to my levels along with me!
Any questions, feel free to ask.
EURNZDThese are levels that I'll be keeping an eye on when dealing with EUR/NZD, and I'll revise as price action progresses.
I adapt to the change in money flow.
I'm rotating what I track & trade, so I'm exchanging two currency pairs for one in order to consolidate my watchlist. However, I would still like to see how P.A. play out to my levels. Feel free to watch it with me!
SPYThese are levels that I'll be keeping an eye on when dealing with SPY, and I'll revise as price action progresses.
I adapt to the change in money flow.
I'm projecting it to head lower after a potential upswing to the previous weekly high that can possibly take place sometime next week.
1st area of interest is the $320 - $338 range, and if that can't hold price then I can see it dropping even further. Price is forming a roundabout swing to the downside so that's promising for the range that was mentioned.
Let's all watch this together! 👀
BITCOINThese are levels that I'll be keeping an eye on when dealing with BTC/USD, and I'll revise as price action progresses.
I adapt to the change in money flow.
All I'll say is that if the $32,310 can no longer assist in supporting price then I see $20,000 being the next location it can potentially head for in the near future. We shall see...
GOLDThese are levels that I'll be keeping an eye on when dealing with XAUUSD, and I'll revise as price action progresses.
I adapt to the change in money flow.
I always like to stay neutral due to how market conditions can change up in a short period of time, but I can say that I'm bearish on Gold.
Key Notes:
*P.A. is at high end of curve
*Monthly ranges have been absorbed
*New weekly low formed
*Weekly bearish leg
I believe this rally is short term due to price experiencing a correction phase. I would think different ONLY if there was a descending channel forming which would then tell me that going further down to create new lows might not take place (at that particular time) since price's intent wouldn't be to go lower. Price can potentially rally close to the previous weekly low (see chart) before the bears re-enter the market to takeover.
Just my thoughts...
B I T C O I N These are levels that I'll be keeping an eye on when dealing with BTC/USD, and I'll revise as price action progresses.
I adapt to the change in money flow.
Yesterday's daily engulfing pushed away from a significant range that's been supporting price along with forming a V shape which is actually cascading to the higher T.F.
TESLAThese are levels that I'll be keeping an eye on when dealing with Tesla, and I'll revise as price action progresses.
I adapt to the change in money flow.
Even though I can see price doing a small rally around the $1,222 level I believe that we're about to see TSLA tumble a bit. Market structure was breached in bear's favor so I would look for price action to form a new lower low (LL) after the rally I'm anticipating.
I'm projecting Tesla's valuation to decline to the $700 - $625 range per share, and I also believe that any fundamentals will only expedite the inevitable. I say that due to what I spotted from a higher perspective. 👀
Just my thought's and nothing more, nothing less. We shall see..
ElectroneumThese are levels that I'll be keeping an eye on when dealing with ETNUSDT, and I'll revise as price action progresses.
I adapt to the change in money flow.
I am very thankful to be an early adopter to this specific crypto due to the decline in price along with my holdings coming from mining the coin when Electroneum was allowing that function on their app some years ago.
I believe it has the potential to form a D.B. from the higher perspective before we see a shift in price's momentum. I'll be more bullish after price break out of the diagonal resistance, breach the $0.03 level and to print new HHs & HLs.
Just my thought's and nothing more, nothing less. We shall see..
EURNZDThese are levels that I'll be keeping an eye on when dealing with EURNZD, and I'll revise as price action progresses.
I adapt to the change in money flow.
This is one of the new currency pairs that I'll track & trade for the new year. I'm honestly publishing this so I can keep track of it's movement throughout before I have to make a newer idea. Feel free to follow this pair with me if you like!
A bullish impulsive followed by an ascending channel got me looking for sells 🐻. I would look for buys once price reaches the $1.63 level, and if my initial analysis didn't play out then I would wait for a break & retest of the $1.68 for buying opportunities.
Just my thought's and nothing more, nothing less. We shall see..
Stellar XLMThese are levels that I'll be keeping an eye on when dealing with XLM/USD, and I'll revise as price action progresses.
I adapt to the change in money flow.
It's currently in a ascending channel which typically mean we will more than likely see a break in structure to the downside. If that were to happen then it'll be some great buying opportunities presenting themselves at certain price points.
B I T C O I NThese are levels that I'll be keeping an eye on when dealing with BTCUSD, and I'll revise as price action progresses.
I adapt to the change in money flow.
Bitcoin had made a breakout to the upside from the higher perspective, and the roundabout formation that price has made returned to this bullish range. How price action came back to it is what's truly telling due to the bearish impulsive followed by a descending channel which has led to a bullish breakout.
Due to the bullish impulsive it has broken structure and we can view that as a precursor for what's to come very soon according to price action. Steady hands will win the race. PAYtience!
Just my thought's and nothing more, nothing less. We shall see..
CROThese are levels that I'll be keeping an eye on when dealing with CROUSD, and I'll revise as price action progresses.
I adapt to the change in money flow.
I see a nice setup forming on this crypto from the higher perspective. I'm anticipating further movement to the downside, and looking for money flow to change hands between the $0.36 - $0.45 range.
*Indecision/bullish impulse @ $0.42
*Bear trap @ $0.48
*Liquidity (potential) between $0.36 - $0.45
* Sprinkle some fundamentals in the mix for extra seasoning 😎
Just my thought's and nothing more, nothing less. We shall see..