BTCUSDT
Daily analysis
The price was bullish from early March. Market structure shifted to bearish to lower time frames. This week, MSB occurred on daily. Now we have a new target for the daily chart. $29,000s is a new target for wing short positions. For retracements and short term long positions we should keep an eye on lower time frames. After hitting premium zone, imbalance zones and a liquidity zone until $19,600 level will be new targets.
4H analysis
After the formation of bearish market structure break, the price retraced to the premium zone of 4H structure. Also the price is between a range. LL and HL has not been broken. On higher time frame lower prices are the target. However, we can expect higher prices according to market structures on 15 minutes market structure.
XAUUSD
Daily analysis
From the early May the price of the gold drops steadily on daily time frame. On 4H, market structure break was formed. According to current price we are close to weekly imbalance level between $1,940 and $1,860. The price can partly or fully fill the price imbalance and then make a retracement to 4H premium zone. We need a MSB on lower time frames for bullish price movement into the premium zone. The market structure will remain bullish as long as the price is above $1,800.
Hourly analysis
The market structure was bearish for the last two weeks on both 1H and 4H time frames. Last week we expected a retracement move to the premium zone on 4H time frame. However, the market structure is still continuing to make break of structure on bearish side. The location shown as LH is important for price delivery to 4H premium zone. If a candle closes above 1H time frame over LH level, then we can benefit for a small long position until the premium zone, then we can enter short within the premium zone with a confirmation on 15min bearish market structure break. The position can be kept until 1W imbalance zone.
EURUSD
Daily analysis
Considering different time frames one can observe that the market structure is bearish on 1H and 4H time frames. The price hit an imbalance zone and close to fill the gap. If we consider the RSI level, we can expect a reversal after closing the imbalance. The target will be 4H premium zone.
4H analysis
The EURUSD pair evaluated to be in bearish since the last week. We mentioned above that the price hit the fair value gap. Now, we have another confirmation on 4H time frame to expect a bullish retracement. The RSI exhibits bullish RSI divergence. We should observe a bullish retracement until 4H premium zone by a market structure break on 15 minute time frame. This has to be a short term long position. Then, one can expect a short position in the premium zone according to bearish market structure break.
Hourly analysis
Bearish structure is present in the market on 1H time frame for a long time by making new break of structure on each lower high. As with 4H time frame there is bullish RSI divergence on 1H time frame. We are on a good position for a reversal on 1H time frame, which will take us to 4H premium zone. The price shown as LH is critical. If a candle closes above that level, then we can think that price made a MSB on 1H time frame and this is a retracement for 4H time frame. In this case the possible price movement is shown with red lines.
** Important Note: Above ideas are not investment advice!**
Nihat Çetinkaya
https://twitter.com/nhtctnk
I’m a private trader of over 7 years, based in Istanbul.
All trading and research are my opinion, not investment advice.