Good morning, today we are going to look at the daily picture.
Being in a broad uptrend channel (in green) since the lows (double bottom around 29'000), the BTCUSD,
from, its recent upside breakout of the clouds is currently in a more steeper uptrend channel; in making,
yesterday, an intraday high @ 55'800 (acceleration triggered by the breakout of the former high...
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Cheers & Happy Trading!
The market is ranging.
Resistance @ 0.95253
weak Resistance @ 0.94881
Support @ 0.94103
Parallel Channel - descending, active
- Intraday Idea
- Shortterm Trading
- Catching Small Movement
- Break of Channel
The market in not in a Trend, so we can either Buy or Sell.
As you can see the market is...
EURUSD is in a channel, gearing up for long, but in a short vision, i think it has to retest 1.09, target of the head and shoulders. After the big red candle, wait for a small pullback under EMA followed by red candle. or something similar. If it will show buyers' strenght, long on close above the head.
USDEUR has high probability to drop, reasons:
Overbought (Yellow) in 85m 2H time frames indicated by "9 Seasons Rainbow Multiple Time Frames Pattern PRO" Indicator;
Previous Resistance: 0.892
Previous ascending channel has been broken.
Target 1: 0.884 Fib 0.618
Target 2: 0.881 Fib 0.382
Target 3: 0.873 Fib 0.236
This descending channel meant you could have been buying at every bottom trend line touch with take profits once it hits the top.
Risky moves were selling from the top to the bottom
VERY close to major support structure area. BIG BUY coming up
DON'T miss this - an UNCOMFORTABLE lot size on this move will go a LONG way in proving that patterns are KING!
SPY is in a tricky situation here. Currently it is stuck in a short term ascending channel. The breakdown point could be any day now as the daily Stoch and RSI are reaching overbought levels. One it breaks down, the next point to watch is the long term support level from back in 2017 at $254. From there it can either break below that, or rise back up to the four...