Price action and chart pattern trading setup: > An ending diagonal pattern with stochastic bullish divergence - possible rebound for wave 4 > Target SMA50 zone near upper elliott wave channel resistance - 0.382 retracement of wave 3 > Stoploss @ wave 3 lower channel support with RRR: 1.5:1 Indicator: > Stochatic RSI bullish divergence signal > MACD crossover...
The same daily pattern has shown up for a third time since the COVID recovery began. It's a low volatility day (small candle), followed by a small gap down into a volatile and choppy period for four days, then a reversal into a new secular bull run. It looks like a planet and a moon, hence the stupid name.
The BTC/USD after the Steep rise and test of the Resistance Zone is falling as expected. The decrease is price will go on up to the Local Support zone which can be seen by the MAs , which will intersect after which the bounce will follow.
on DAILY: this pair is currently rejecting a strong resistance/supply area so we will be looking for objective sell setups on lower timeframes. on H4: AUDNZD is trading inside our blue channel (not valid yet) so we are waiting for a new swing to form around our lower blue trendline to consider it objective and enter on its break downward. we also have a regular...
EURGBP again on the orange moving average. Last 3 times, we had a nice rejection, with buyers coming in to buy again at that level. Right now, it seems that we might have the same pattern. The price is also within an up-channel, with the setup of the moving averages that is bullish, so this trade is worth a try, considering also the good risk to reward ratio.
Just playing with some lines on daily chart and I see some resistances around 10k. Very curious how this will play out in the next days. BTC under 10k or above 10k? R1: a not so strong resistance from the past (blue line) R2: kind of an upward trend resistance (orange line) R3: EMA 150 resistance? RSI looks like it will go above 50.. it has room to grow. MACD...