On my previous 1D post I highlighted a pattern within a downtrend channel. On this 1W chart those two patterns confirmed by reversal bearish bars (Engulfing candlestick and Evening Star) both are rejecting off 20 EMA.
None of the information above constitutes any form of investment advice. All of the opinions expressed are solely personal and...
BTC is still in a 4hr downtrend as you can see on the chart displayed so no bullish entries can be considered by myself until a break of the 4hr high of $10,658 occurs. Until this happens I will remain bearish, but still cautious to the several indicators pointing out that a potential bottom is close.
Things to look out for are as follows:
1- RSI is approaching...
Meanwhile Bitcoin's 1H chart seems to be to trend following our Scenario 2 to test the $9475 once again.
- RSI reverse back upwards, Volume is in a good momentum and MACD also trying to reverse with the favor of the bulls. EMA needs some energy to flow below the the price though but is also on the way if volume can make some progress.
AS WE CAN SEE XRPUSD HIT NEAR SUPPORT AND IS STARTING TO TAKE OFF AGAIN, WE MIGHT STILL BE LOOKING AT THE RISE UP.
TARGET 1: 0.42454 (ALREADY HIT)
TARGET 2: 0.44470
TARGET 3: 0.47290
BREAKING OUT OF THE FLAG AT AROUND 0.42545, SO WE CAN LOOK FOR THE CONTINUE OF THE RISE UP.
**PROPER RISK MANAGEMENT NEEDED**
**PAST CHARTS DO NOT GUARANTEE FUTURE CHARTS...
Exactly as we predicted LTC's move the day before yesterday it is doing very well with its momentum and so far reached 144 USD. We called it at around 120 USDT so far about 20% profits is achieved on this call. Still got some space depending on BTC's move for now but will surely be an awesome #Hodl opportunity from Mid to Long term time frames. Stay...
Pair : #XVG / #BTC
RSI : 56
Note : #XVG is on a very good bullish setup and forming a bullish engulfing candle stick in the 4H chart. The already formed falling wedge seems to be broken out and seems we are having a good spike from XVG. Volume looks good in addition to EMA is below the price. Both MACD and RSI are on favor of the bulls....
The price of the instrument is currently nearing a key resistance point at the 137.744 level showing signs of a break of the previous downtrend on the 1-hour chart. It is important to note that if the price moves above this level this could be a strong indication of a long bias. More Conservative traders may want to wait until the price moves above the 200 day...
RSI : 63
Volume : Interestingly increasing by the last 3 days.
Correction incoming by the following days. It will be a good opportunity if the 2nd wave correctional move created as depicted. Need to breakout and close above the channel's resistance line depicted in red to confirm a bull trend continuation.
Accumulation Area : 12 sats - 14 sats
Distribution Area :...
We can see LH and LL printing on the weekly chart.
There is also a lot of uncertainty about the election result.
Possible drop to the previous support zone (~1550)
If this zone breaks, very likely to send us to ~1500 and bounce there.
Going back above 1680 will invalidate this.
Good luck trading!
Price confirmed the downtrend line last week. Now a good opportunity to buy on the impulsive break of the trend lone or wait and see if we retest the green buy zone. RBNZ rates are coming on Wednesday at 3AM London time and could set this pair on a massive trending move so getting in the trade early could mitigate risk of getting caught in volatility.
While SP500 managed to make new all time highs briefly, the Dow struggles at resistance zone around 26700. Trump's announcement over the weekend to increase tariffs on China from 10% to 25% signals a setback in trade war talks and should send panic through the markets tomorrow and Dow could retest the green support zone. Further selling only possible if 26000...
this is my trade idea for CADCHF for next week. This pair show us a RSI divergence plus a rising wedge what will broke to the down side.
The fibonacci retracements are the targets for next week.
Have a great weekend.
Your Stefan Forex
Price reached resistance before Bank of Canada releases its rates today at 3PM London time, expected no change so all eyes on the rhetoric. Potential to get in early before the data. Short through support zone on an impulsive candle. Or wait for the break higher and go long, a retest would give more confirmation.
Daily shows overbought with candles showing rejection on the upper side of the channel. A short can be placed if we see an impulsive below 105 level on to test the uptrend line, better with a spike in volume as well. If not, a long is likely on bounce from the 105 zone.
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