Art_of_Trading

Art_of_Trading

The EURUSD price is going downwards last few days. If it reaches the Fibonacci retracement of 88.6%, it will complete a bat pattern. This will create an opportunity for harmonic pattern traders. T1 – 38.2% T2 – 61.8%

Art_of_Trading

The Ripple is going down last few hours and getting close to the support level at 0.7804. The price respected that level few times and it is expected it will do again. Thus, there is buying opportunity here. However, the best approach is to wait the confirmation candlestick (bullish bar) and then place a trade.

Art_of_Trading

The Litecoin is at the key area. The question is who will get control of the price at that support level, bears of bulls? There are two potential scenarios. If the support holds, it means the bulls are taking control of the price and more buying orders would be expected. If the price breaks that key level, then bears will push the price down and the previous...

Art_of_Trading

The Ethereum broke the structure and the previous resistance became the support level. The price respected that area multiple times and it is expected that it will do again. The big orders are usually placed at the key levels. Thus, the buying positions are assumed to be at the support.

Art_of_Trading

There is a major support at 8750 area, where buying orders are expected. Moreover, the trendline acts as a dynamic support. If the price goes down and touches the support level, then there will be an opportunity to go long.

Art_of_Trading

There is an opportunity for harmonic pattern traders. If EURAUD continues falling and touches 1.5817, it will complete the bat pattern. T1 - 38.2% T2 – 61.8%

Art_of_Trading

The NEO is in consolidation zone last few hours. None of the market participants (buyers and sellers) are fully committed to control the price. There are two trendlines, which acts as dynamic support and resistance. If the market breaks the trendline, it will create an opportunity to go short.

Art_of_Trading

The LTC reached the structure high at 166. The price respected that level few hours ago and this is the second attempt it tries to breakout. The best approach here is to wait for the market reaction on that structure level and then place the order accordingly.

Art_of_Trading

The BTC formed a channel, two trendlines which act as a dynamic support and resistance. If the price breaks the trendline, then there will be the opportunity to go short. However, it is important to wait a valid strong breakout for confirmation.

Art_of_Trading

There was a false breakout on the 4H GBPAUD chart. The price did not go down after the support breakout try at 1.8184. It bounced back and testing the structure again. The best approach here is to wait which market participants (sellers or buyers) get control of the price. I will await the strong confirmation bar and then place a position.

Art_of_Trading

The price cannot break a main support at 131.58. It tried to breakout, but every time it bounced back. It means there were not enough sellers. The buyers are getting control of the price. It is expected that the more buyers will join this momentum and the price will go up.

Art_of_Trading

The EURUSD went down and broke the structure level at 1.2069. It is expected that the more sellers will join this momentum and start selling, which will decrease EUR value more. However, it is also possible that the price may backtest the structure and then goes down. There is a short opportunity for breakout strategy traders.

Art_of_Trading

The Ripple is going upwards last hours. If this momentum continues and reaches the Fibonacci retracement of 88.6%, then it will complete the Bat pattern. This will create a selling setup for harmonic pattern traders. T1 – 38.2% T2 – 61.8%

Art_of_Trading

The price went down and bounced back again at support level (143). The Litecoin respected that level multiple times and it means that buying orders are placed at that area. The more buying momentum is expected, which creates the opportunity to go long.

Art_of_Trading

The Ethereum is going up last few hours and reaching the structure high, which acts as a main resistance level. The selling orders are expected to be placed there. Also, it is the best area for previous buyers to lock their profits. Moreover, the price formed a Gartley pattern, that increases the probability of this setup to go short. T1 – 38.2% T2 – 61.8%

Art_of_Trading Updated 

There was a strong bearish breakout (see long red bar) and then bounced back at the support level at 8927. It seems, the buyers step in and push the price up. Also, the previous sellers locked their profits, which gave additional buying power to BTC. In addition, the price formed a bat pattern which increases the probability of this setup to go long. T1 – 38.2% T2 – 61.8%

Art_of_Trading

The Monero is going down last few hours and broke the key support level at 249. Now, this support acts as a resistance level. The price is backtesting the structure and price fall is expected. The more sellers are going to step in, which push the price down.

Art_of_Trading

The Ethereum made a higher high when it broke the previous structure at 687. The price is making the correction move now, which will end soon and the new impulsive leg formation is expected.