BITCOIN DAILY Technical levels to watch 18k - 19k In light of the current economic situation, my overall bias is bearish on bitcoin, and I'm willing to look for selling opportunities if we pull back toward the 19k level, where confluence is present as channel resistance and horizontal resistance. BITCOIN - 4 HOUR Technical levels to watch 16950 It may be possible to counter trade the trend if we break and close above 16950. This would give me the opportunity to buy into 18k short term. Long term, I am still bearish on this instrument, with shorts my priority. ETHEREUM - DAILY Technical levels to watch 1420 Similarly to Bitcoin, I remain bearish on this instrument. The key level I am watching for shorts is 1420. Any rally into that area will likely cause me to fade the instrument. ETHEREUM 4 HOUR Technical levels to watch 1233 As we enter the new year, we may be able to play a long up to 1420 if we get some strength from the start of a new yearly candle. I'd like to see a break and hold above resistance at 1233 in order to get on board a short-term long. BNB - DAILY Technical levels to watch 336 range high & 218.8 range low BNB seems to be in this larger range bound environment with price currently testing the lower bounds of the range. My preference for BNB is to wait for price to hit 336 and sell. It may be possible to play the range up again if we sweep 218.8 and reject. CARDANO - DAILY Technical levels to watch 0.30 On the daily timeframe ADA is trading south in a bearish channel, I am more than happy to hold off until we get a retest of 0.30 and then look to get in line with the overall trend again. MATIC - DAILY Technical levels to watch 0.70
Currently sitting on support so the next chance to sell should come in the form of a break and retest if we get it. If price bounces from here then I am simply hands off, its all about letting the trade come to you and if it doesn't then scrap the trade idea.
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EURAUD - 4 HOUR Technical levels to watch 1.5700 We remain bullish on EurAud. However, we are in a pullback phase and are either looking for a sweep of a previous low or a breakout of the pullback channel. USDJPY - 4 HOUR Technical levels to watch 1.34 - 1.35 With Yen strength continuing, I have added Usdjpy to my watchlist and will be looking to participate in any pullback into resistance. AUDCHF - 4 HOUR Technical levels to watch 0.6300 Audchf remains bearish, and has already tested our technical levels, but due to the choppy conditions of the holiday season, we may have another opportunity to sell it AUDJPY - 4 HOUR Technical levels to watch 91.00 - 91.50 We remain bearish on AudJpy, but are currently waiting for a pullback into some technical levels before looking for opportunities to sell. AUDUSD - 4HOUR Technical levels to watch 0.67977 At the moment, AudUsd is in a corrective phase, and we are monitoring it here for a push to the downside shortly. Holiday season is currently the time for hands off. EURCAD - 4 HOUR Technical levels to watch 1.4420 The momentum on EURCAD is to the upside, and the plan is to get on board any long via pullbacks into technical levels of support. NZDJPY - WEEKLY Technical levels to watch 83.650
My eyes are on NzdJpy for a longer-term trade, as we are currently sitting on both channel and horizontal support, so if we can close below and retest, I will become active in shorting this market. AUDJPY DAILY Technical levels to watch 91.00 - 91.50 We remain bearish on AudJpy, but are currently waiting for a pullback into some technical levels before looking for opportunities to sell. AUDCHF - 4 HOUR Technical levels to watch 0.6300 We remain bearish on Audchf, but are currently waiting for a pullback into some technical levels before looking for opportunities to sell. AUDUSD - 4HOUR Technical levels to watch 0.67977 As the dollar corrected, we stayed away from Audusd, but now we can see the structure is changing on the lower timeframes, putting AudUsd back on our watchlist. At its December meeting, the Reserve Bank of Australia raised its policy rate by 25 basis points to 3.1%, taking borrowing costs to their highest level in a decade. CADJPY - 4HOUR Technical levels to watch 99.500 In a surprise move last week, the Bank of Japan raised its tolerance band on 10-year government bonds to 0.5% from 0.25%, while keeping the ultra-low benchmark interest rate unchanged. Due to this move, CadJpy is no longer in its consolidation phase, and we are currently looking for potential sell-off opportunities if we retest the bottom of that range. EURUSD - 4 HOUR Technical levels to watch 1.05800 EURUSD is back on our watchlist for potential selling in 2023. On the lower time frames, we can see price is currently trading in a bullish channel. If we break that channel and retest the 1.05800 level, then we will consider selling. GBPUSD - 4HOUR Technical levels to watch 1.2150 GBPUSD is back on our watchlist for potential selling in 2023. On the lower time frames, we can see price has recently broke structure to the downside. 1.2150 remains a key technical area I am watching for a potential move lower. Fresh figures show that the British economy shrank slightly more than expected in Q3, with household spending and investment falling significantly, raising fears of a recession. USDCAD - 4 HOUR Technical levels to watch 1.3580 Currently, USDCAD is trading in an uptrend and with the Canadian dollar weak, this is considered one of the best trading pairs for the future. The price will be monitored at the 1.3580 level and members will be updated in the trades taken section. USDCHF - 4 HOUR |
AuthorDominic James Archives
August 2024
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