Litecoin is pretty much oversold right now, there's a little 6.32% upside from $9.1 USD (0.5 USD gain) as we have just bounced off the long term trend line. 4 hour RSI indicates that it is currently oversold.
If LTC fails to break above $10 by 5th July, we should be expecting further downside through the falling channel...
Idea is based on a combination of Elliot Wave theory and median line analysis. The rationale behind the technical analysis is shown on the chart along specific stop loss and targets. Good luck guys.
Idea is based on a combination of Elliot wave theory and median line analysis. In addition a simple RSI strategy is used to indicate price action's behaviour. The rationale behind this technical analysis is shown on the chart along with specific targets and stop loss. Good luck guys!
This month looks like it COULD possibly form a Bullish Pennant along the downward trend line that is most notably found on BTCE.
I've been making my attempts at day trading but have failed a few trades, so I've decided to take a step back to my long term strategies and continue there where my skill set is better suited.
If you're new to trading feel free to do...
While last uptrend in the last days broke downtrend triangle, we are all expecting the new movement direction.
IMO two main possibilities (checking daily chart) are:
A) Uptrend to 740-750 area if 540 support holds. RSI and CMF trust in it. If so, we would be in a correction of the last uptrend and a gap would be present in the next days (maybe 1-2). On H4, MA200...
Fundamentally, the euro is not looking so good. But I always trade what is on my charts . Price has formed a Bat pattern and also a cypher pattern (credit goes to user eXcess0070 for informing me there is also a cypher possibility)... Hidden Bullish divergence on the RSI tells me maybe the Euro is not completely done and have some fight left in him. . PRZ zone is...
Something doesn't look quite right to me at this point. The price of the EURUSD currency pair did not managed to break 1.35 support. A positive divergence was created on a 28 period RSI. These are positive signals, if the price will manage to break again above 1.3550, I believe that the 200 ema on a 4 hours chart could be retested. I will remain slightly bullish...
Historically this took some steam off the run, giving a good entry position. Although RSI top is not lower, it is not higher while the stock price took a decent step up on lower volume. Short term small pullback may be in play to the previous resistance
I know that we all shout that the Euro is doomed to fall because of the new monetary policy that the ECB might adopt on 5th of June. But I will keep my eyes open for a break above the upper line of a Falling Wedge, and above the 200 ema on a 60 min chart. There is enough time for a corrective move before falling again.
EURUSD has a very good support at 1.3600/10,...
First this pattern appears quite difficult to read. But once you put the targets into perspective, one witnesses that the primary wave 3 (iii) is an exact 1.618 Fibonacci extension of wave 1 (i). By this token if the count ratio of 1:1.618:1 is to hold, then the next primary wave high is going to be ~ 1.64 level, which is a hefty ~1100 pips gain.
I would...
From the larger timeframe, AUDCHF formed an inverted H&S pattern. It failed to rally and retraced back to 38.2% of the rally. This tells us that the inv. H&S is still in play. Switching to H4 charts, with the help of the median line we see how price has been playing out.
A risky trade would be to long at 0.822 - 0.8219 regions with stops below 0.81209.
A safer...
No position; but accumulation on the daily as indicated by the positive divergence of price making lower highs and MACD/RSI making higher lows (and in oversold territory). Could be a bullish setup to watch. However, symmetrical triangle breaking below may indicate a continuation of the short term down trend and possibly forming the right shoulder of a (sloppy)...
As much as I wanted to see my short position work out, it looks like you can't fight the trend.
Logarithmic + Pitchfork, nice channel eluding to $5500+ on the next peak.
Also shows that we're at the bottom for now.
RSI also shows we recently hit a low point, which coincides with the beginning/transition of every other bubble we've seen thus far.
EMA / MA...
Chart : red dotted line = structure level
red trend line = stop loss
violet trend line = entry
green trend line = target
Bought at 171.313, we went for a double bottom into previous structure support (red dotted line). A 2618 trade opportunity has been noticed in lower time frame (15MIN)
Now, it should be easy to get higher into our target, 172.091.
If market...
Will ECB take any action today and bring the euro down, or will let it burst above 1.4000.
From the technical point the price has drawn a Rising Wedge which broke the down trend line. This along with the negative divergence on the 28 periods RSI give a strong sell signal. A break below the lower line of the pattern would be a good confirmation for the signal. If...
Wheeler, RBNZ chairman, said that the kiwi got strong despite New Zealand's fundamentals. A strong NZD could bring problems to the country's economy and the central bank might start selling some $N. The currency reacted pretty fast and fell back under 0.87.
From the technical point of view we can see a very good resistance at 0.8743 and a negative divergence on...
There are lot of things happening on this chart, but for clarity, we'll focus on the smaller ones that are easy to miss from the big picture.
1. Notice the smaller divergence formed (RSI 67.88 - 66.19). This is our area of interest.
2. Horizontal range bound break out targets to 1.69250. So if you haven't bought GBPUSD as the breakout, then forget new long...
