GBPUSD currently exhibits a Weaker Buy signal, accompanied by a 5-week long consolidation phase.
Trading Decision Dilemma:
The month-long consolidation prompts a crucial decision: Will it be a buying or selling opportunity?
Buying Opportunity:
For those inclined towards a buying stance, watch for the completion of the Bullish Butterfly Pattern...
There is a Confluence of a Bullish Butterfly and a smaller Bullish Bat visible on the 5-day and Weekly timeframes on the JXY as the RSI ticks out of the oversold zone for the 4th time at this level while making higher lows each time. It would seem as if the JXY is confirming to us that it has reached a Harmonic Bottom and is preparing to rise up to some of the...
We have some PPO Confirmation at the PCZ of a Bullish Butterfly near a Support Level, along with some Pending MACD Bullish Divergence inside of a Falling Wedge Pattern. I think we are setting up to eventually Breakout of the wedge and get a 10-20% move out of it.
The SQQQ has given us PPO Confirmation at a potential 1.414 Bullish Butterfly PCZ and has topped it off with MACD Hidden Bullish Divergence. If we are to see the QQQ pull back 50-65% then the SQQQ should go up about 100-200% from here, though I may end up just targeting $32 depending on how fast it goes.
The Dollar Canada pair offers a chance to capitalize on a bit of consolidation after an uptrend movement. Upon examining the daily chart, there appears to be a retest of the previous resistance, indicating a favorable buying opportunity for counter-trend traders.
The 4-hour chart shows a retest of the support area, which could potentially lead to a harmonic...
A couple years ago BTC topped out with a Bearish Logscale Butterfly and now it may be looking to Bottom out to the Bullish Variant of the same Harmonic. We have a Tripple Bullish Divergence on the MACD and an additional Bullish Divergence on the RSI.
📊 If you're a trader seeking both buying and selling opportunities without worrying about trends, this one's for you! Australia-Canada is in a sideway consolidation, ideal for counter-trend traders who love buying low and selling high. 📉📈
👀 On the daily chart, observe the group of highs and lows. The four-hour chart heads towards previous supports, while the...
USDNOK is sitting at the Demand Line of an Overall Bearish Ascending Broadening Wedge Pattern that happens to align with the 1.272-1.618 PCZ of a Bullish Butterfly; along with that, we have PPO Confirmation, RSI BAMM, and a MACD Bullish Crossing. Given the scenario, I can see this trying to retrace up 50-88.6% of the Harmonic Range before coming back down and...
From the looks of it, DXY will try to hold the 1.414 Butterfly PCZ and make its way up towards previous Resistance. I don't think DXY will Break the Resistance, but it does look like there is a good case to be made for DXY coming back up to challenge those levels.
🔍 Take Note! This week's market may experience a retracement, and my focus is on a potential shorting opportunity at the resistance level of 1.0987.
Stay tuned as we analyze the charts and identify the optimal entry points for profitable trades.
Let's navigate the retracement together and seize the right opportunities! 💪📉
IOTA is currently sitting at the 1.272 PCZ of a Bullish Butterfly and this 1.272 extension happens to be the last positive Fibonacci Extension on the linear scale, meaning that this is probably the least risky area possible to buy IOTA and perhaps aim for much higher levels, even as high as 1–2 dollars.
Given how tight the entry and price action are, I think as...
🔍📊 Current Market Overview:
I'm closely monitoring the EURUSD pair for a potential shorting opportunity on the higher timeframe. However, at the moment, two buying opportunities have emerged, which deserve our attention. Let's dive into the details:
🦋 Bullish Butterfly Pattern:
On the daily chart, we have identified a Bullish Butterfly Pattern with completion...
Gold has Double Bottomed at the PCZ of a Bullish Butterfly that is visible on the 1 Hour time frame; if it plays out it could go up to at least $1,958 and at most $2,022
The 3x Bearish Return ETF for the IWM is currently showing Hidden Bearish Divergence on the weekly at the 55-week EMA, and it looks like if this Hidden Bearish Divergence plays out we will see the ETF fall below the B point and begin to accelerate its Bearish Wave Structure which would complete between the 1.272 and 1.618 Fibonacci extensions.
This would mean...
Despite BTC's price action breaking below the support zone, it still continues to Bullishly Diverge on the RSI as it forms Bullish Harmonics at the lows. As of right now we are at a shared confluence PCZ of a Bullish Gartley and a Bullish Butterfly which also about aligns with the 200 week SMA and we could be double bottoming here preparing for the big move up.
A Bullish Butterfly Pattern retest give traders who were looking for buying opportunity to engage the trade. What I like about this setup is that a clear RSI Divergence is within the butterfly pattern
SOFI is currently trading and forming a Bullish Head and Shoulders at a shared confluence zone between the log scale 1.618 and the linear scale 1.272 Fibonacci Extensions which in both cases would be the PCZ of a Bullish Butterfly; While it is possible that it could go deeper into the linear 1.414 Extension I do believe that the action we're seeing from the price...
