FX Delta Weekly Summary September 23rd - 27th 2019

Hey guys, how you doing? Time for summary. Week is past. So this is how the setup looks like. We had the first false break, then we had the second false break, multiple divergences, bullish pressure all the way. And this is where we got the breakout right here. That was the entry. Take profit 1, the green line, and take profit 2 above the red line. As you can see, first trade was reached pretty quick in about 1 hour. This is a 30-minute chart, by the way. And then immediately during the pullback, trade was closed. The second part of the trade was closed in breakeven. And here was the second trade, which immediately after this push upwards provided this push to the downside. That was most likely caused by Bitcoin. We know that there is strong correlation between the altcoins and Bitcoin. So this is where we get the second setup. Something that reminds a triple top here and breakout below this zone provided the sell trigger. And now if we go back to the chart, this is the one we need, and we go back to the 4-hour chart here, we can see that this is where we got the bullish setup right here, and later on it was followed by the bearish setup. So when it comes to the bullish one, first of all, we have reached that amazing supportive zone. You can see the price start bouncing off of it, creating these spikes, and this is where we get the actual setup and we managed to get the first target. And then later on, using pretty much the same levels, uh, just the next line of support and resistance, I would say. Right here, we got the bearish setup. So this is where we got the trigger on the 15-minute chart, and this spike lower gave us the profits. Now, next one on the list is the dollar. That was the entry setup. Push up— sorry, push down ABCD structure. Then it started moving upwards. Now this is not the ideal kind of situation for one reason. Um, usually when this divergence forms and we get the breakout, I would like to see that being on the very, very bottom. In that case, we had this Previous low, which opened doors for next spikes here before possible continuation. Okay, that was the tricky part. Still valid, still correct, but it just leaves room for bigger risk in my opinion. So if you see this one and you're not entirely sure what you're doing, my suggestion would be to simply. Trade it with a bit lower risk than usual. And if you're sure of what you're doing and you have an idea how to draw levels and you have support or resistance lines before that, it's not a problem. You can still trade it with regular risk, but just as a rule of thumb, keep this in mind. So that was the trigger. And yeah, unfortunately, for some reason, we didn't get here the closing image. But what can you do? Technology. Bottom line is take profit one was taken. Take profit two zero, which means take profit two was not taken. Basically, the price went to the first target and then kicked out in break even. Not this one. Sorry. This this platform. This is the door and. Pardon, that was 1-hour chart setup here. I'll just zoom in a bit more. Yeah, 1-hour chart, as you can see, that basically tells us we are working with the daily. Let me just zoom out a bit more. We are working with the daily. Okay, so inside daily The pressure remained bullish ever since this part, and here we got the first delta pattern. But this one was against divergence. That meant we need to see hidden divergence here, which we didn't. So basically, these pullbacks, even though they made the money and they provided push up. Was not entirely by the rules. On the other hand, we see the next pattern, which was also against divergences, but this time it started pushing to the downside and it formed the hidden divergence. Okay, so more or less this one was better, even if there was no divergence. In this case, we see a breakout, and this is what counts the most for me. This is by the book the setup. We need to see hidden divergence, but in this case, you're seeing a breakout of these levels, not just false breaks. And on the last part, it starts to push higher. Okay, this is the most important and critical part. So once we got pushed to the downside, this is the a retest zone, which means here you can be looking for the next attacks to the upside. So that's about the dollar. Uh, BCH, another crypto, 15-minute chart in combination with the 4-hour chart, and this is what I like to see. First false break, tiny false break but still there, and then we have double bottom. Clearly the price is rejecting to move lower, and this is where we got this tiny, tiny divergence which gave us enough room to go ahead and place the order. Of course, this entry was a bit, um, above. We have the spreads and all that, but it still managed to deliver. And the good part is the risk-reward ratio here was not ideal, but we had the resistance zone above. So in my opinion, if you're going to trade such setups, the best would be to go ahead and place your targets around these levels. Don't fight the last few pips. Even if your risk-reward worsens a bit, it's better to cash in some money instead of losing the whole trade. In this case, we did lose the whole trade, but if the range would be respected, then we can take the money. Okay, this is the bottom line and the most important part in my opinion for this setup. Then we have pound kiwi, which also delivered here a loss. After this strong push to the downside, the pair managed to create divergence, and basically this divergence was used just for the trigger here. But what counts in my opinion is this one, the actual, the bigger swing. Okay, so if we were going to use this divergence, then this is the breakout we should be trading. In this case, once again, same story repeats itself. We're trying to catch the price inside the smaller wave here in order to get the profits quicker. Otherwise That will be required for target one to be reached, and this way we basically split it in half here. And as we said, it pushed to the downside after this range here. It couldn't break upwards. Instead, we got the push lower. So going back to the actual chart, pound kiwi. Is right here. And ever since that momentum was created with this push up, we started getting, um, the bullish delta patterns. And this is the place where we got triggered. And as you can see, boom, immediate push to the downside. And that's pretty much all, guys. XRP on the top, um, we did cover already, okay? So no need to waste more time. Please like, share, and comment if you have any questions. Of course, don't forget to join us in our free Telegram channel where me and Vladimir Rybakov are sharing, um, trading setups and analysis on daily basis. This is completely free for you to use. Just click on the link below in the comment and you'll be able to join us. Thank you for watching. Wishing you a wonderful week.