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Marketsmechanic

ICT Approach to EURUSD Short.Hello traders! I'm not going to elaborate on this too much. We're hitting equilibrium prices on the weekly and daily . Resistance expected . We also have a Daily Bearish OB that has already been tested, thus confirming a bearish move. The white box is a mitigation block which was not tested clearly earlier and left a gap. That what is expected to be filled. Hope you find this analysis useful. Only for educational purposes. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
Short
by UnknownUnicorn27677748
Gold price rising? Only to plunge again! ICT Approach To XAUUSD.Hello Traders! We see a test of the 2080 resistance level once again. Weekly and daily ranges are marked on the chart. The market is in premium zone on the weekly and Lower High (LH) picture is maintained on the daily. Also, we're in a discount zone on the daily . Hence some retracement to equilibrium and the daily bearish order block (OB) is expected. The daily OB is also overlapping with a weekly bearish OB . That makes the 1940-1945 zone an extremely important resistance. Strong selling is expected from the said level. The quarter has just ended on 30th June 2023 and this quarter is expected to be bearish as well. Although the seasonal tendency of XAUUSD in July is bullish, the same may not be expected this time but could be a cause for deeper retracements. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
EIGHTCAP:XAUUSDShort
by UnknownUnicorn27677748
The Last Bear Rally is here! Elliotical approach to BTCUSD.Hello Traders! 1. The idea was originally published on 19th Feb and will be attached. 2. We see a break of the 25250 high as we had expected in the previously published idea. 3. BTCUSD tested 161.8% level and fell over 2000 points in a couple of hours. Not a mere resistance, it's much more than that. 4. Some consolidation is expected before we place our sell orders. From when this idea gets published, I expect a move up in the hourly tf above the said red line. Once the market moves beyond the red line and gives a closing in the 1hr tf, we can place sell orders below the Red Line. 5. One thing I've learned the most in trading experience is that when the whole lot is buying like it's a bull run that never ends, we sell. And when the whole lot is absolutely pessimistic about the market, we buy . Obviously, we should back this psychology with fundamental or technical analysis. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
Short
by UnknownUnicorn27677748
54
DXY bullish? ICT Concepts application.Hello Traders! I mentioned in the last update of the BTC idea, how I started learning ICT concepts, around a month back. This is the first idea to be published based on those concepts. One must understand that these concepts are vast, and I've only begun it. Everything gets better with more and more practice. 1. Let's begin from 14th April 2023, where DXY market made a new swing low on the daily. We see a massive, fast move up. A 4hr swing high (white highlight) is broken. The market makes a double top (red highlights) and falls. 2. Since, a swing high was broken, we could look for potential moves up from the white 4hr POB (potential order block). This block also coincided with the 70.5% percent Fib level. This Fib was taken from an institutional level of 100.50. I know. Those who don't know ICT concepts find this amusing and, at times, even stupid. But it really does work. I initially was wary of using it but, the more I practice, the more I gain the confidence of doing this. Test it out yourself before you take my words. 3. Market moved up drastically just as was originally expected, grabbing the liquidity from above the double tops and creating a new swing high (neon highlight). ICT stresses on looking at equal lows or highs with suspicion. Every trader knows that the stops of the people who shorted and the orders of people willing to go long on the break of the high rest there, creating liquidity. 4. This new swing high gave us another window of likely opportunity. In my understanding, until a new swing low breaking the old swing low (blue highlight) is made, the market is primarily bullish. 5. More liquidity rests below the equal lows where the market has created the current support upon. It may not necessarily go for that liquidity pool, but it definitely can. 6. The new 4hr POB (fluorescent rectangle) could also hold potential for an up move. I hope this gave you something new to learn today. If you already know ICT concepts, then that is amazing. I still have a long way to go. All of this is only for educational purposes. Please take advice from your financial advisor before taking any financial risk. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
TVC:DXYLong
by UnknownUnicorn27677748
10
Range Breakout Failure on the Daily! EURUSD Short.Hello Traders! 1. We see a range made by the EURUSD market on the daily timeframe. 2. There was a clear breakout with the closing of the breakout bar way above the range. 3. A bearish inside bar was formed right after it. 4. Market has also tested 88.6 per cent fib. 5. Once the low of the mother bar (breakout bar) is broken, we can see movement downwards till the market orange zone. 6. Remember, this is on the daily timeframe, so delivering the target may take some time. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
Short
by UnknownUnicorn27677748
Elliotical approach to Nifty 50 Short.Hello Traders! 1. The previous count wasn't respected by the market. So we had to check for a new count . After re-analysing the Nifty 50 market, we realised that it is the Wave C of the correction that is in progress . 2. We have a major support of 15300 . That's where we expect the market to be soon. An overall fast, impulsive movement. 3. The only unknown factor we have with us is time . The C wave can also end up being an ending diagonal or could just be a simple impulsive movement. Only time will really tell us. All we know for sure is the market should take a deep fall at least till the range of 15300. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
NSE:NIFTYShort
by UnknownUnicorn27677748
28
A 'SouthAll' approach towards ETHUSDT.Hello Traders! 1. This analysis is mixed with various concepts; Elliot Waves, Volume, and Parabolic Movements. Hence the name 'Southall'. 2. The count is clearly stated on the chart. We're following almost the same pattern as we expect in BTC . 3. We see significant volume spikes in the selling zones and less volume in the buying zones. This also indicates the built-up selling pressure . 4. We also see ETH respecting two upward-sloping curves . The indication seems very clear. 5. I see the crypto markets as intrinsically bearish, at least till a new low is made. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
Short
by UnknownUnicorn27677748
'You Rise, Only to Fall!' Elliotical Approach to BTCUSDT.Hello Traders! "Do you see the beauty of it? The Inevitability? You rise, only to fall!" As Ultron has pointed out, at times, markets rise, only to fall, what we traders call a 'retracement'. The bullish retracement of BTC is almost at its fag end. 1. We'll begin from the All-Time-High of about $69000. From there, we see the first 5-wave impulse down and then an ABC correction. That means, we have clear Waves 1 and 2. 2. Again, we see a 5-wave impulse in the form of Wave 3 and then again an ABC correction forming what we thought was Wave 4 (called Wave 4m from now on) . 3. There is a wonderful Rule of Alternation given in Elliot Wave theory. Wave 2 and Wave 4 will differ in at least one of the following ways if not all; PRICE, INTERNAL STRUCTURE, and/or TIME . There are a couple of other things as well but these 3 remain prominent. 4. Now, Wave 2 and Wave 4m took almost the same time and also had the same price value. Of course, the internal structures were different and that would have done it, but we didn't see the next 5-wave impulse down as the final fifth wave after 4 clear waves. 5. In such scenarios, we give the market time to unfold. Time is a very important key to market movement. We stay away until we understand what's really going on. 6. The market went further down and made a new low of around 15500 in 3 waves (marked with yellow ABC) . The move up breaking the high formed by 4m, confirmed that the correction was still going on. Wave 4m was just Wave A of actual Wave 4. 7. The 3 yellow ABC waves, were Wave B of Wave 4. They also happened to retrace exactly 123.6% of Wave A (4m) . This gave us the hint that an irregular flat correction was taking place. 8. What is an Irregular Flat Correction? The image has been attached. Please refer. 9. Wave C, ideally, should not cross 161.8% of Wave A. There can be a scenario of an extra elongation of Wave C but that is very very rare. 10. Coming to the Target Zone now. Wave 5 can be equal to Wave 1 through wave equality. That gives us a target of around 12222. We also have an important support for BTC at that price level. Once Wave 4 is finally complete, a parallel channel drawn through Waves 2, 3, and 4 should give us an approximate target of Wave 5. 11. The invalidation level for this analysis has been shown on the chart. Wave 4 should not enter the price territory of Wave 1. If it does, we'll have to re-analyze. Although, since it's a large C wave, the possibility of a diagonal exists (where Waves 1 and 4 can coincide), it doesn't seem to be in the picture yet. 12. It is expected that the market will break its current high on 25250 once before beginning the impulse down. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
Short
by UnknownUnicorn27677748
7
Upwards correction; Short-term Elliotical approach to XAUUSD.Hello Traders! 1. We see a 5 -wave impulse down which had been expected a long time coming. 2. Now there is an expected correction upwards from the market. 3. We have clear strong support and resistance . 4. Breaking of the Trend line should confirm our entry. The break of waves 2-4 trendline mostly marks the confirmation of the beginning of the correction. 5. Be smart with your risks. Trading a correction is very risky and is not advised for beginner traders. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
OANDA:XAUUSDLong
by UnknownUnicorn27677748
Possible C-Wave; Short term Elliotical Approach to EURUSD. Hello Traders! 1. We see a 5-wave move down, a clear impulse; then Wave A breaking into 5 parts, and then a clear Wave B breaking into further 3 parts. 2. We see a running triangle variation forming as shown in the chart and then a 5-move impulse down. Image attached. 3. A 5-move wave up can be clearly seen on the chart in the 15-minute timeframe. That will be our 1st wave. 4. Target can be anywhere between 100% of Wave B and 161.8% of Wave A. That gives us the complete green zone. 5. I've already talked about irregular correction quite in depth in the BTC idea I published recently. The link will be attached. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
Long
by UnknownUnicorn27677748
3 Highs setup in USDCHF.Hello Traders! 1. We see 3 consecutive highs after proper consolidations . I have some self-made rules for this setup which have worked with almost 90 percent accuracy. 2. We also have a 2-bar reversal pattern in 1 hour tf. 3. Sell below the red line . The stop may be updated if the market makes a new high before our entry. 4. We also have 2 potential targets marked by the green lines. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
Short
by UnknownUnicorn27677748
Basics of Elliot Waves.Hello Traders! 1. Today, we will discuss the basic market movement structure, elliotically . A recent comment on one of my ideas published pointed (indirectly) towards the need for a basic understanding of Elliot Waves for the general trading public. 2. The market moves in consistent impulsive and corrective structures . Waves 1, 2, 3, 4, and 5 together form the 1st Impulsive structure of the market. Waves A, B, and C together form the next Corrective structure of the market. What is an Impulsive Structure ? These are patterns that occur in the direction of the trend. A movement consisting of 5 smaller cycle waves and following certain set rules/guidelines set by Elliot; Wave 2 never retraces more than 100%, Wave 3 is never the shortest, & Wave 4 does not enter the price territory of Wave 1. The 3rd rule is at times compromised and that should be up for discussion some other day. More rules exist but are not required for the basic understanding of the markets. What is a Corrective Structure ? We will put this very vaguely. Whatever is not impulsive, is corrective, in laymen's terms. 3. Let's address the Impulsive structure . Waves 1, 3, and 5 are impulsive waves within the impulsive structure. Waves 2 and 4 of this impulsive structure stand to be corrective. Waves 1, 3, and 5 consist of 5 waves each. Waves 2 and 4 consist of 3 waves each. 4. Now we'll address the next Corrective structure . Wave A and C of this structure are impulsive whereas Wave B is of corrective nature. Waves in the corrective structure are very interesting. Wave A can at times consist of 5 waves as well as 3, even though impulsive, and can also be a diagonal. Wave B can sometimes contain 5 waves, when in a form of a triangle, even though corrective. Wave C always has only 5 waves and can be a diagonal as well. The corrective waves are a whole lot more complicated and require a vigorous understanding of the structures. 5. Every wave structure is part of a larger wave structure on a larger timeframe. 5 impulsive, 3 corrective waves of the smallest cycle; which will form Waves 1 and 2 of a larger cycle. Then these two waves along with 3, 4, 5, and the next correction set, will form the 1st and 2nd waves of an even larger cycle. This is how our final wave structure (basic) would look like. The world moves in harmony with progression and recession. And so do the markets. All they need is an observer. Be one. Happy observing! Profits, Market's Mechanic.
NSE:NIFTYEducation
by UnknownUnicorn27677748
7
Symmetrical Consolidation in USDJPY.Hello Traders! 1. We have a symmetrical consolidation pattern in USDJPY on multiple tfs. 2. The consolidation appears to be more bullish than bearish. 3. PNL has been set for entry and stop levels. Stop levels may change in case stop level gets hit before the entry is done. 4. Always take a slight buffer when going towards buy side since there is pip difference in buy and sell prices. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
Long
by UnknownUnicorn27677748
Going Short on Banking Stocks? Elliotical Approach to BankNifty.Hello Traders! 1. We see a completed 3rd wave of impulse that started after Lockdown - March 2020. 2. We see a clear zigzag correction for Wave a, marked with red ABC. 3. We see a 3-wave Wave b . The count of wave C of this wave is being shared here for clarity. 4.The most expected target for BankNifty should be around 30500 . This is because we see the possibility of an expanded flat (3-3-5). There is also an important guideline of Elliot wave theory that Wave 4 of a cycle falls very close to the Wave 4 of Wave 3 of the same cycle . A figure is attached for more clarification. 5. The final 5th Wave of the impulse is expected once the C wave of this 4th wave is complete as shown on the chart. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
NSE:BANKNIFTYShort
by UnknownUnicorn27677748
1
Elliotical Approach to USDCAD Long.Hello Traders! 1. We see an Expanding Leading Diagonal for Wave 1. 2. As per the guidelines, the most common level for retracement of a leading diagonal is 78.6% . That is exactly what happened here. We also have a support on the same level. 3. We have a clear invalidation level at the start of Wave 1 . 4. The most expected target for Wave 3 would be 161.8% of Wave 1 as per the guidelines . The target could differ as per more development in price action. 5. There is a bit of a change when concerning the original idea. It has been attached. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
Long
by UnknownUnicorn27677748