Hi everyone. ETC/BTC (ETC/XBT) has been pumping quite nicely these past couple of days. We are reaching a pretty strong confluence of resistance however, and I plan to attempt a short near the purple descending line. Some confluence to consider: -Fib line -Top of the daily cloud -Descending resistance trend line -Daily pivot Resistance 1 -Descending resistance on...
H4 - Pair reaching the confluence zone as marked on the chart, that would be a triangle and duplication of the first wave down. This is where we may start looking for buy setups with bullish evidences. Invalidation: If the price moves lower and if we get a valid breakout below the bottom of this triangle pattern then this bullish scenario will be invalidated.
Hi everyone! I've entered a long on BTC. I believe there is definitely a possibility of another leg down, but I dont want to miss the train and dont have much time tomorrow to watch it. We are approaching a major intersection here, especially the light blue ray i threw out a couple weeks ago. We are hoping that, and the previous trend resistance will act as...
BTCUSD made a significant move up over the last 2 weeks from the 6500's, most recently breaking throught the 7800 level last week. After the break through 7800 it attempted to retest the 8600-8900 range but failed. After noticing an extremely overbought RSI and a developing double top I conducted some fib analysis. It seems there is major fibonacci confluence...
As we are bearish on the NZD shorting the NZDJPY is a "no brainer". It's a super fun trade because there is confluence of the trendline with the 61% fib and the R2 weekly pivot. As I already am selling the kiwi I could only take a small position. First target is at the 127% fib extensions around 74.77 because there are a lot of levels coinciding over...
All of these factors are coming together. Lots of retail coming in from FA news
H4 - We may look for a correction to happen now and once this correction completes itself, we may look for short term sells towards 1.29. D1 - 1.29 zone is a confluence of Fibonacci expansion level and 2 trend lines. Once the price reaches this confluence zone, we may look for longer term potential buy opportunities with bullish evidences.
So, After that little discussion on my last chart, I decided to look a little harder for clues. What the heck, we may have a bounce zone coming up. Lets see what happens when it hits. You never know!
Looking for market to retrace after running into a 127 and 141 fib confluence that are within a pip Market is also very overbought giving more cause to the short case Not looking for total reversal just pullback to continue the overall trend SL is at the 1.00560s above the previous swing high Looking to take profit at 9990s Good luck and always have a plan
Hi everyone, Update on ONT. We've entered the trade at the green box posted up last week. Its still a tad early in my opinion. Better confirmation would be seeing this daily candle close as a bullish spinning top or hammer for a reversal, which looks like it may be doing right now. I would also like to see some upticking on the MACD histogram followed by a nice...
Placed short based on testing resistance of Fibonacci confluence.
BUTTERFLY PATTERN FORMATION ON USDJPY - LOOK OUT OVER THE NEXT FEW DAYS GOODLUCK,
Bullish Bat Formation on Higher TF. Looking to go Long upon completion of this Bat pattern. Bat Pattern = 50.0 B Point XA: 50.0 Fib (B) AB: 38.2 - 88.6 Fib (C) XA: 88.6 (D) ABA:161.8 88.6 Fib completion confluence with 1.775 Quarter Point. SL & TP Given on the chart. Goodluck
Price is retesting the ascending trend line. Buyers looks to be exhausted and sellers should come in soon.
big drop yesterday after ECB announcement looking at this confluence of fibs, Ma's and previous structure to short this