BTCUSDT
4H analysis
We have expressed our expectations on range formations so far. On weekly, there is a harmonic formation that was shown previously with a target of around $21,000s. In the current time frame, we can talk about a possibility of bearish Gartley formation. If this occurs, price will sweep to liquidities above and fully close previous bpr on weekly. While mentioning this, we should make confirmations on LTF since HTF expectation is bearish.
15 min analysis
The range formation of biweekly period was broken towards bullish side after making two different deviations. After moving out of the range, the price reacted around fib 0.5 level of the range. A buy-side liquidity was swept that can make us suspicious of the price to go lower levels. But somehow the price held between a new narrow range. During the weekend, the price is around equilibrium of the new range zone. But sure, there will soon be a massive movement. We should observe what will happen from the chart on LTF before taking decisions. In short, expectation is bullish on LTF, bearish on HTF.
XAUUSD
4H analysis
We expected the price of gold to sweep the predefined liquidity levels last week. Actually, the price swept the identified two liquidities. The price gained enough momentum to go higher values. There is not a change of character currently. Our expectation in 4H chart is to make a pull-back to FVG zones situated blow and carry the price to further levels. In this case, the market character will also change and we can analysis further levels.
15 min analysis
Price seems to make a down trend, consolidate for some time, and break out and make a reverse trend on 15 min chart. The price made deviation during the time spent within the range structure. The range was broken on bullish side and the price made a break of structure to continue its movement. There is a fair value gap in 15 min that can attract the price between $1,921 and $1,919. After reaching that value, the price is expected to make a new break of structure and keep its attitude unless there is a different change of character.
EURUSD
4H analysis
We expected the price to sweep the liquidity around 1.064. This was the actual move that the price did. Because there was only a 0.6% price difference to reach the liquidity. It was important to transfer the momentum by triggering stop-levels of some positions. Now the possible target is the yellow box around 1.082 which was also mentioned last week.
15 min analysis
Before the price dropped to sweep the liquidity, a fair value gap was left behind. Recently, positive RSI divergence was formed on the chart. On HTF, we expect higher prices. Due to these factors, we are looking forward to the movement of the price to premium areas identified on HTF.
Before and after
BTCUSD
XAUUSD
EURUSD
** 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.