The counter has confined its price action to a range of 1.11078-1.10640.
It is awaiting cues from the Jackson Hole symposium to make a decisive move.
However, we expect a bearish move in the counter if it breaks the support of 1.10640.
The break could propel the pair to the support of 1.10267.
Almost becoming a standard for the stock market to bounce right back up again after some bad bearish news and price action. This time there is a chance things might be a bit different though. On the left it looks like there is a real resistance zone now inside this bear flag. I have not posted much about these markets, because the noise has been extreme past year....
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breakdown no confirmed just yet but probability is definitely favoring it now as we can see price acion now firmly under the 4hr deathcross. If price action cant climb back above that deathcross then both the bearflag breakdown and he death cross will be sustained/confirmed. this is the perfect spot if the breakdown is confirmed for price action finally reach that...
It looks like there is a bearish flag forming that may break south after testing the 50 EMA and daily trend line close to 10,400. If it breaks the trend line of the ascending wedge and breaks through the level of support and psychological barrier of 10,000 it's next possible level of recovery would be the 100 EMA followed by a weekly pivot point at 8500 . I do...
D1 - Price has created lower lows currently it looks like a flat correction is happening.
H4 - Price is moving inside a bearish flag pattern.
H1 - Price is moving inside a small range, price has reached a critical zone formed by the top of the H1 range, H4 bearish flag and the fibo levels of the cycles we have and is currently moving lower.
Until the price...
Update on BTC's recent developments,
Points to consider,
- Sharp advanced decline into pattern, - Key characteristic of a bear flag
- Price is in a narrow range
- Major support broken, support was in confluence with the .618 Fibonacci level
- RSI recovering to neutral zone
- Stoch's on downwards momentum
- EMA's providing price resistance...
Here we can see how ETH followed the 'rules' quite well, with staying below that resistance. For bitcoin it was more difficult to determine that level. Rather had seen it stay below the 8700ish. But it was weekend and they pushed it up with very low volume all the way up from the 8300/8400.
Now we can see why they did it, because volume was that low, they...
Bearish Flag is a form of range pattern
Ranges, Descending Triangles, Triangles, & Ascending Triangle are repeatable trading chart patterns.
Triangles and ranges are consolidation chart patterns that can breakout either direction.
Ascending and descending chart patterns will have a directional bias depending on the previous incoming trend.
Each chart pattern...
Yesterday NYSE:CDE broke through bearish flag and is now targeting region at around 4$, based on the symmetry and current chart structure. There it should find strong support, for the move higher.
Potrential trade: Sell short @ 4.60-4.70 region
Risk/reward: 2 to 1 or 3 to 1 based on the entries, which is reasonable.
Looks like USDCHF made a a false breakout 2 weeks ago. Broke up on the upside of that bullish wedge and broke down again. Past half year i assumed this was a big bearish wedge, while knowing there was a chance it might be an ascending triangle. Because of that big rally a month ago, it looked like the triangle won. Now it seems that one failed as well, which...
Not much to say here, only thing to mention is that this is not a good time to be in the trade. I would wait for the down trend to end. Click on my link to see probable outcome.
Details on the Chart.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework....