It's been a rocky (and likely stressful for those who are not properly hedged against negative BTC price movement) few months for crypto, but here's my take on the situation for BTC/USD So there's some good news and bad news, and neutral news. Bad news first : There's definitely more to go, we haven't completed the cycle just yet and smart money knows a better...
Bat completed price on higher time frame is still in an uptrend so we're trading a retracement here, I'm waiting for price action to break another 5 pips to confirm the buy (Break structure) on the lower time frames, but this is looking good for a long back to previous resistance levels. Also USDCAD is bearish and AUDUSD runs 80 ish with this pair!
All retaining gains vs their US counterpart, as the Greenback fades and Aussie eyes an extension of its post-Chinese trade data gains beyond 0.7750. Possible rest bite and support incoming for AUD/USD over the next trading week! All Fibonacci D extensions have been met. Time for a buyers stop hunt...
NFLX has moved into the completion of bottom area, but is struggling to hold on to that completion level. Some rotation is present from large lots. NFLX did not have a strong pre-earnings run.
AMZN is stepping back down after testing the completion of a bottom. AMZN did not have a strong pre-earnings report release run. The step back has weak bounce candlesticks. A retest of the lows is likely unless more buyers move in.
XLNX had a sudden Inverted V Topping Formation during the summer of 2019, but has recently filled the gap down and is moving up to a bottom completion.
MU weekly chart shows a bottom completion underway for MU as it recovers from a 50% decline last year. The stock is showing some underlying momentum from large lot hidden activity.
DLTR was unable to break out above a high resistance level. The stock bounced at a short-term topping completion support level.
KO broke to the downside and is continuing down to the support level of a top completion. This aligns closely with the prior gap up.
CELG completed a long-term bottoming formation in June and recently moved up to challenge a higher resistance level.
CTXS moved with strong momentum to a bottom completion resistance level recently. The stock may retrace and retest before breaking through the resistance.
AXP has had a slow downward rounding candlestick pattern as the stock slips down in price. The price has stabilized for the moment at a Topping Completion support level.
Microsoft gapped up on earnings in April. However, the pattern has weakened since then with gap down action. The stock is now at risk of losing a potential top candlestick pattern formation unless corporate buybacks are instigated to maintain the price level.
TWTR gapped beyond the trading range highs after a strong earnings report. If TWTR can hold above the prior trading range highs, this will be a completion pattern. Note the compression of price near the highs of the trading range prior to this big gap.
Going long after a breakout at 85.807 level to 89.066 level
Traders, Nice potential opportunity for a trend continuation short on EURJPY pair. After we broke the previous support level my bias is very bearish on this pair. The bat completion can be a reason for entry. Have a great weekend!
Traders, Picked up a nice "at market" gartley shorting opportunity. I will wait for a LLLC for my entry Best of luck this week of trading :)