Weekly Summary And Review November 25th 2022

0
78
Weekly Summary And Review November 25th 2022

Hi Traders! Arvinth here from Traders Academy Club team. Weekly summary and review November 25th 2022 is here. It is now time to recap and summarize the trade setups that we had during this week. Below you will find the short explanation of all the trade setups we had this week and how it has currently developed now.

Trading Ideas (Blog Posts)

Silver – My idea here was “On the H1 chart, the price has created clear waves of bearish trend pattern in the form of three lower highs, lower lows which we may consider as evidence of bearish pressure. Generally, after a bearish trend pattern, we may expect corrections and then further continuation lower. Currently it looks like a correction is happening. Also, we had two strong support zones that has formed, the price moved lower broke below these zones and is holding below them, we may consider this as yet another evidence of bearish pressure. Currently, these strong support zones are acting as strong resistance zones for us. Until these two strong resistance zones (marked in red) shown in the image below holds my short term view remains bearish here and I expect the price to move lower further”.

 

Weekly Summary And Review November 25th 2022

 

Current Scenario – In Silver my short term view was bearish and I was expecting the price to move lower further until the two strong resistance zones hold. The price respected the first strong resistance zone, moved lower and delivered a short move to the downside before it moved higher again. The price then moved higher, reached the second strong resistance zone, respected it and the price which is bouncing lower has delivered a nice move to the downside so far!

 

Weekly Summary And Review November 25th 2022

 

 

Ripple – My idea here was “On the H4 chart, we had a strong bearish move and the price has created lower lows based on the MACD indicator, which is a sign of gaining momentum towards the bearish side. Currently it looks like a correction is happening in the form of a range with the price reaching parallel support and resistance zones. While measuring the two waves inside this range, we have two key resistances zone that has formed. The first key resistance zone is formed based on the 100%(0.41142) Fibonacci expansion level of the first wave and the 61.8%(0.38973) and 100%(0.41719) Fibonacci expansion level of the second wave. The second key resistance zone is formed based on the 161.8%(0.46521) Fibonacci expansion level of the first wave and the 161.8%(0.46242) Fibonacci expansion level of the second wave. Also, based on the Stochastic Oscillator we could see that the price has reached its extreme, which we may consider as yet another evidence of bearish pressure. In addition to this, there are no signs opposing this short term bearish view at the moment. Until both the key resistance zones (marked in red) shown in the image below hold my short term view remains bearish here and I expect the price to move lower further”.

 

Weekly Summary And Review November 25th 2022

 

Current Scenario – In Ripple, the price is currently holding in the first key resistance zone. Until both the key resistance zones hold my short term bearish view still remains the same here.

 

Weekly Summary And Review November 25th 2022

 

 

Litecoin – My idea here was “On the H4 chart, based on the Heikin Ashi candles we can see that currently, we have strong bullish bodies in upward moving market conditions so it basically reflects a bullish environment. In addition to this, we could see that the price has created higher highs based on the MACD indicator, which is a sign of gaining momentum towards the bullish side. Also, the ADX indicator gave a bullish signal here as well, at the cross of +DI (green line) versus -DI (red line) and the main signal line (silver line) reads value over 25, we may consider this as yet another evidence of bullish pressure. Currently, it looks like a correction is happening, also we had two strong resistance zones that has formed and the price which was moving higher has broken above these zones and is holding above them. After the breakout these strong resistance zones are acting as two strong support zones for us. So based on all this, until both these strong support zones shown in the image below(marked in green) hold my short term view remains bullish here and I expect the price to move higher further after pullbacks”.

 

Weekly Summary And Review November 25th 2022

 

Current Scenario – In Litecoin, the price action is following the bullish expectations so far. My plan didn’t change here that is until the two strong support zones hold my short term view still remains bullish here.

 

Weekly Summary And Review November 25th 2022

 

Note: You can follow us here on Trading View and also on our blog to get similar ideas on daily basis)

For similar trade ideas and much more I invite you to join the Traders Academy Club and improve your trading with us.

You will also find a pretty extensive database of educational materials here in the blog – just use the search or check out the Forex Education section above.

 

If you have any further questions, don’t hesitate to drop a comment below!

 

Happy Trading!

Arvinth Akash
Traders Academy Club Team.

Click To Join Our Community Telegram Group

Advertisement

How to Invest in Amazon

4 Advantages of Amazon Investing - Read More

  • Amazon’s net a bullish 450% 5-year gain
  • Amazon’s ROI is 6x’s the S&P 500 Index of 67%
  • AMZN shares may hit +$10,000 by mid-November 2024
  • Amazon’s growth since IPO tops more than 12,000%

Now is the time to invest in Amazon

Subscribe
Notify of
guest

0 Comments
Inline Feedbacks
View all comments