The price of BTC has been drifting up an ascending channel and finally met strong resistance at the ~6872 price point.
Currently the stochastic RSI has reached overbought territory and is in the stages of moving back to an oversold region.
Support at the 6300 price point seem very well supported both by Fibonacci levels, the Kijun Sen, and psychological ...
The day chart of USD/CAD is currently in uptrend.
But the pair is witnessing a corrective rally due to profit booking.
We expect the pair to find support at either of the trend lines.
Hi guys, I share with you my technical setup for EURCAD for the next days.
The chart speaks by itself.
If you find it useful please hit the like/follow button and leave a comment :)
Happy trading!
Right now the price as seen by the current candle on the daily chart. Expresses lots of trader indecision as to where the price is going next.
The bulls are buying it up at about 13.70-13.90 and the bears are selling it back at the 14.20-14.50 price levels.
ADX is still bullish and the Stochastic RSI and TRIX are in overbought territory with no new buy ...
Hi all, jumping straight into the charts,
The cryptocurrency market has been flat-lining the past week, with BTC gaining some dominance and leaving altcoins bleeding slowly.
BTC specifically, has been trading in an ascending channel the past week with majority price action between 7400-7700. Hugging the 50MA and leading span of the ichimoku cloud, its hard to ...
D1 - Price is near the top of the bullish channel now.
H4 - Potential bearish divergence, we may expect one more push higher with the price reaching the critical zone and the bearish divergence to complete itself.
We may then look for evidences of bearish pressure and start looking for sells.
Invalidation: If the price moves higher, breaks and holds above the ...
Hi guys, I share with you my technical setup for USDJPY for the next days.
The chart speaks by itself.
If you find it useful please hit the like/follow button and leave a comment :)
Happy trading!
After forming some tweezer bottoms (yellow box) price gained upward momentum and entered a short term bullish channel.
If the price stabilizes in the center of the kumo (above the ~.5 fib) with a future break of the uppermost trend line this could cause a large run. That trend line follows back to the January ATH.
However, a few thing would need to happen.
A ...
Hi guys, I share with you my technical setup for CADJPY for the next days.
The chart speaks by itself.
If you find it useful please hit the like/follow button and leave a comment :)
Happy trading!
Hi guys, I share with you my technical setup for AUDNZD for the next days.
The chart speaks by itself.
If you find it useful please hit the like/follow button and leave a comment :)
Happy trading!
CDT has been moving upward through a rising wedge. These patterns can be continuation or reversal patterns.
Taking into consideration the bear cross on the stochastic RSI and the fact that the price is sitting in a wide bearish kumo with future price volatility not decreasing by very much.
The Kijun and Tenkan San are both acting as support but have begun to ...
Price is moving up an ascending channel and the Kijun Sen has formed support under the price this support is confirmed by the bullish twist on the Kumo, and the flatline seen on the Tenkan indicating the downward momentum is losing inertia.
Stochastic is showing this is heavily oversold.
D1 - Price has reached the bottom of the bullish channel. As long as the channel is going to hold, we can look for bounces and buy setups here.
Invalidation: If the price breaks below the bottom of this channel then this setup is invalidated (false breaks are acceptable).
H4 - We already had a false break and also a potential divergence is forming. We can go ...
Everything adds up almost perfectly among the indicators right now.
RVI is low and is nearing past levels of strong support. So volatility and downward momentum is decreasing which is bullish. Room to fall then bounce off support.
This is mirrored on the stochastic as well as the TRIX.
We should see the price bounce off the bottom of the ascending channel at ...
Overall the price has been in an ascending channel with well defined psychological support and resistance as seen by our blue trendlines. This falls in line perfectly between roughly the 0.786 and 1 fib levels.
Ichimoku - The clouds senkou lines have been rising. This tells us the average price equilibrium is rising. Strong supports on these levels as they align ...
Price is in an ascending channel
Bullish bias price moving to top of channel
Possible bearish breakout of channel bottom
Buy Stops and Sell Stops shown
Take Profits are shown
Yellow = Buy zone
Green = Sell Targets
Red = Stop loss
Price has been ranging forming a bull flag in the short term while also following a nice ascending channel in the longer term.
Kijun acting as support
Chikou crossing price
Stochastic has room to fall back into the buy zone
MACD has a very slight bullish divergence.
