Yesterday, we saw our EURGBP short position hitting the stop loss for less than one pip and going down, hitting our take profit at the bottom of the downchannel just like we planned.
Today, the price is offering a second chance to trade the same chart pattern, so we try to enter again with a favorable risk to reward ratio.
Where is BTC in a macro view? What is key support/resistance?
BTC is in a correction, expected to be 2nd wave. We are just in the earlier phase of a new bull cycle.
I think of a sideway move of BTC this month, prepare for new impulse wave on next month.
Most of the things are on the chart.
BTC has formed a channel which also has a triangle within the channel. A bearish break out has formed from the triangle. Also the candles are under the 50ma and 100ma. With the triangle target along with the downtrend channel (which l expect it to stay in) I am expecting it reach the target of 8,000-7,000 with 2 resistance levels which l don't think will be a...
When we look at the Bitcoin's half hour chart, we can see the reverse pennant formation clearly.
Steep fall on August 29th started the bearish pennant formation. After that move, price of BTC seems forming the pennant pattern. Now we are almost ending the formation and getting ready for another steep downtrend.
Target of this move is around late 8700's or...
It isn't the prettiest, but How often are they? Here we see a Descending triangle formed on the 4h hour with at least three touches. We have a candle close under that support and it looks to me like the market is returning to potentially retest that previous orange MONTHLY support zone as a newfound resistance zone to continue the overall downward trend. From a...
Starting with the FED's announcement, USD/TRY started to go up. This means Turkish Market top 100 BIST 100 may start a downtrend. Usually BIST 100 and USD/TRY moves opposite directions. Uptrend of BIST 100 started on May 22nd.
When we look at the daily chart price is on support level, RSI is also on support level
On 4hours chart; price is on support, RSI...
taking short on the bounce of downtrend line at 0.98800, should've waited for the bounce to enter but I was to trigger happy but will be adding to position when it hits the line.
9:45 tomorrow morning US PMI data will come out
previous 51.5 predict 51.7
may drive down prices if news is negative
sl:0.99073 above trendline
tp:0.98045 at support
D1 - Price is moving inside a bearish flag and is holding below the downtrend line, potential bearish hidden divergence.
H4- We have two critical zones that has formed based on the fibo levels of the cycles, the top of the daily bearish flag pattern and the daily downtrend line.
Price has currently reached the first critical zone, bearish divergence. Until this...
D1 - Bearish convergence, currently it looks like a pullback is happening.
H4 - Price has reached the critical area formed by the downtrend line and the resistance zone. Potential bearish divergence.
H1 - Triple cycle up, price has reached the critical zone formed by the fibo levels of the cycles. Bearish divergence.
We may now look for more evidences of...
I think BAC has finally broken out to the upside of an inverted head and shoulders on the weekly patter. In addition, it seems to have popped above a longstanding downtrend line which could give it a significant boost higher.
GBPAUD reached the top of the descending trend channel plus the RSI is indicating an overbought signal. This is a perfect short setup to catch some big pips!
Trade Details :
SL : 1.8460
TP 1 : 1.8200
TP 2 : 1.8050