Hello!
XLMUSD has been showing some bullish signs after finding support in between the 50-60 % retrace from the miniature bull flag whilst squeezing on the monthly moving average with the drawn trend line signaling a breakout if we have a rally that breaches and closes with a few lines above the MA.
In the case of a breakout we can expect a surge upwards 0.14 level marked with the dotted line before a retest of validity on MA monthly current area, which also is the top of the flag pole. After the retest a surge towards 0.18 can be expected forming a finished BEAR flag in the bigger picture signaling a down move.
If the breakout fails (small bear flag completion) at the break of the the trend line expect a move to the 0.10 (if worse 0.05) level forming a double bottom (if 0.05 its a stop loss hunt for larger orders) where most likely a lot of buy orders will be sitting lurking for an opportunity to be filled.
if you like my short summary make sure to like this analysis as i will try to make more of these and update them regularly!
XLMUSD has been showing some bullish signs after finding support in between the 50-60 % retrace from the miniature bull flag whilst squeezing on the monthly moving average with the drawn trend line signaling a breakout if we have a rally that breaches and closes with a few lines above the MA.
In the case of a breakout we can expect a surge upwards 0.14 level marked with the dotted line before a retest of validity on MA monthly current area, which also is the top of the flag pole. After the retest a surge towards 0.18 can be expected forming a finished BEAR flag in the bigger picture signaling a down move.
If the breakout fails (small bear flag completion) at the break of the the trend line expect a move to the 0.10 (if worse 0.05) level forming a double bottom (if 0.05 its a stop loss hunt for larger orders) where most likely a lot of buy orders will be sitting lurking for an opportunity to be filled.
if you like my short summary make sure to like this analysis as i will try to make more of these and update them regularly!
Comment:
SORRY THIS IS THE CORRECT SNAPSHOT
SORRY THIS IS THE CORRECT SNAPSHOT
Comment:
"Two marked areas" i referred to before
"Two marked areas" i referred to before
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about BTCUSD
Successful break towards the upside has been initiated, expect the two marked areas to be reached either by 1 markup or 2 where the first obstacle (sell orders & take profits) is at the top of the flag pole, ceteris paribus.
2nd markup if not 1 is between 0.15 & 0.16 levels in the previous value area with lots of printed lines as seen to the left, it would also mean a completed AB=CD form a bull flag eventually leading to a touch of quarterly MA (white line)