Watching kcg for a big continuation on the bullflag
With BTCUSD running up over the last couple of days, we've seen ETHUSD trade sideways to lower...but not for much longer, so I think. With a Squeeze forming on a 195 minute (+ a bull flag), 78 and 39 minute chart I'm looking for it to make its next leg higher. If you take a look at the daily chart, ETHUSD has been trading in a nice pattern for the last few weeks...
EURGBP rallied for 11 days after bouncing off the 200 day moving average during late February. Price has recently pulled back and a bull flag could be taking shape. This pull back offers a good opportunity for a long swing trade. Stochastic RSI is also approaching oversold territory, meaning price may soon turn and continue the bullish trend on fresh buying power....
FX:EURUSD I'm long again on this Bull Flag breakout. The market reading is the same as today earlier, but with a different timeframe and momentum. The actual candle just formed a big Bullish Outside Bar, breaking up the consolidation box and showing the strong up momentum. The day trading relies good part on timing and momentum, it's important we realize that.
FX_IDC:EURUSD The 15' Bull Flag was just confirmed by price, with precise touchs to the line. Due to the recent uptrend move, this trade has a great R:R of over 1:3, and it's on the trend side. The 100% Fibo projection is exactly at the major daily resistance, but as a day trade it's reasonable to take profit a little earlier.
Trends like these are excellent opportunities. The momentum is up, and we have a nice sideways correction to provide support if the pair breaks out. This is on the watch list for the week.
BTC is lil weird to trade right with the ETF news. But here's the plan : a short before breaking the bull flag. I wanted to make this shorting 2 hours ago, anyway, now I'll wait for the long entry :) If you venture into the shorting, no need to remind you to watch out for upward breakout, in which case, long all the way ! Good trading lads.
Fibonacci Extensions and a bull flag pattern completion give a measurement of support to 247.32