After Thursday's bullish day on BTC, I wanted to revisit another screenshot of the 1234 Breakout Analysis that I've been tracking since the peak on December 17th. If we broke out today, and the margin is narrowing, we'd be in the ballpark of $8,700 on BTC/USD.
Checking in on the big elephant in the room. This proposed breakout is backing into its corner nicely. Where 10 days ago the proposed 1234 breakout was sitting at >$11,500USD, now on 3/17 the breakout is down to just under $10,500USD. In the spirit of "St. Patty's Day", I'm sure we'd all love to see a nice green upward trend kicking off, but I wouldn't mind...
Keeping an eye on this 1234 Breakout model to see what happens in the next few days. I am encouraged to invest in potential new growth if the trend breaks this line of resistance.
Gold has had a bad day and is now testing bull patience to the very limits. It has to regain 1240 quickly now. If it can't manage it and hold up there the technical picture will deteriorate rapidly, and once below 1234 trigger further liduidation of long positions back to 1201, where it becomes a short buy again. Contrarians will be thinking about buying here with...
963/307 RR PROFILE Price action at RESISTANCE LEVEL and at 618 FIB with STRONG DOWN TREND SIGNALS
Looking at EURGBP, price has been a down trend since April this year. Price has retraced to touch the 0.618 RETRACEMENT OF XA. The 0.618 - 0.718 RETRACEMENT ZONE also confluences with a major structure level, the previous high! Looking deeper, we see that the retracement is also a 1234 SETUP, confluence with RSI DIVERGENCE and a DOJI, whose upper wick extends...
Found what I thought would be a simple shorting into a downtrend when price retraced to the 61.8 RETRACEMENT of the impulse leg XA Further inspection of the RETRACEMENT LEG ABCD revealed a 1234 movement, which terminates at the 1.272 EXTENSION OF AB . This level has further confluence with structure on the left and with the 61.8 RETRACEMENT OF XA. This will be...
Sharing with you how we trade our 1234 Structure Setups: www.youtube.com **NOTE: Do NOT simply plug and play any strategies into your trading plan without first understand the concept of the strategies, and evaluate whether it suits your trading style and personality. Simply adopting any strategy might hurt you more than benefit you. Have a great pipping week!...
week to week cadjpy registers a higher high and has been trending up for the past 5 weeks. I do not wish to try to pick the top. Instead I look to continue to trade with the trend. Right now there is channel forming , sort of like a bull flag. There is also a price macd divergence so I am looking forward to see a subsequent up move. In the blue circle, I am...