possible bearish continuation on the cards with a strong break and close below 78.799. first targets will be down at 77.000 then 74.000. if your also using MA's i will also be waiting for a cross to the downside as well for extra confirmation.
After finishing an ABC pattern GBPJPY looks like its turning bullish and heading towards 164 area at least.We have divergence on H4, and I'll be looking for buy setups on lower timeframes after the trendline breaks.
USDJPY is making a correction on the 1HR chart , you can look to sell the breakout of this corrective structure, or for more aggressive traders you can sell the 0.618 fib at the top if it goes there. Trade your plan
I think we may have finished retracing for now and heading down.
-I want a break and close below the 4h trend-line in blue here
-Coincides with fib 0.618 retracement
-ABCD Structure in play
-We just bumped our heads on major monthly resistance of 1.4000 and held below
-A lot of long wicks around the 1.4000 ...
Here we have a Gartley pattern near completion.
D leg needs to complete at a 1.27% in order to see a bearish Gartley pattern completion according to my rules.
We will also have an ABCD pattern completion which adds to make it a valid Gartley pattern.
Stops Above X
TGT 1 0.382%
Update 5 is a major correction to Update 4. Indeed the night I posted the earlier update, China decided to re-correct the price downward following my red bearish line due to low volume. I guess there was a slight delay which I did not take into consideration. So were back overall bearish for the short-term (next 7 ...
Not a lot of volume the past few days leaves Bitcoin in a CONGESTION phase until June 27 to June 30 just fluctuating without any clear direction. TA cannot be very helpful in such a immature market but a forecast can still be done.
The congestion range is mainly between 582 to 621.
My opinion is: