EURUSD has been trading in this range for quite a bit. Thought there was going to be a break last week, but it ended up coming back down into this range. Watch for a break above or below and then trade accordingly. Happy trading!
AUDJPY has been hovering between the 77.7 and the 78.7 zone.
Must the same as most AUD pairs, we have been in a long term down trend, but price action has started showing reversal signs. Upon breaking through the consolidation zone and (if up) the 200 EMA, we have a nice healthy area for a long position.
No trade yet - watch for movement out of the consolidation zone
I beleive that the bearish momentum has now been exhausted, and a bullish reversal is likely because the macro level analysis of STRAT BTC shows a clear parabolic, bullish move, followed by a consolidation trend, down to the 0.0002 satoshi level. The 0.0002 satoshi level would be my ideal entry point, however on the smaller time resolutions there are also some...
We can see the impulse move to the downside on the left of the chart, indicated by the first pink arrow. Then there was a consolidation structure formation which completed 5 waves and broke to the downside. This indicates that we are in the second impulse move, indicated by the second pink arrow on the right. Based on the initial impulse length, we can expect a...
Price has clearly consolidated around the 1290-1297 range and has tested these two price points nearly all week.
Price hasn't been able to push through the zone and we should see a retest of the 4 hour trend line and the 200EMA at around the 1280 mark.
Watch this trade carefulluy
USD/CAD has had a very negative start to the year. For a while, CAD was actually the best performing currency in the world, year to date. But has the pair finished its down trend? Since Wednesday, there has been significant consolidation and a stop in the decline. It dropped as low as 1.31804 before climbing back up slightly.
I think given the significant level...
After the failed attempt of the breakout of the consolidation towards the local trend. Now I'm trying to catch the correction after quite long down-move by flipping my position.
1)Stop loss below the lows of the consolidation.
2)Profit target based on the recent technical structure.
Got in the breakout of the local consolidation towards the short term down-trend.
1)Stop loss above the high of the consolidation
2)Profit target is based on the recent technical structure.
(Posted post factum)
After the steady up-trend, the up-trend structure was broken and it started to look like the reversal. I got in at the breakout of local consolidation.
1)Stop loss above the highs of the consolidation.
2)Profit target is based on 2018 Jun highs.
(Posted post factum)
We continue to have sideways movement between well established lines of support and resistance. The line of support has been tested 8 times.
However, movement downward is running out of steam as evident by the last dip that was unable to reach our support line. So it's no surprise the price is now flirting with a breakthrough of our line of resistance. If this...
Consolidation was tightening up, so I decided to go long with a short Stop loss under the low of consolidation. Profit target is around Sep 21 highs.
(posted post factum)
*Actually the trade reached 1:2 R/R ration and turned around rebounding from more recent highs (Oct 31); if I watched the trade at the moment, I could set the stop at breakeven, I should've had...
After creating a new structure low, BTC has been in a consolidation phase with a bullish Gartley in the midst of it all. We are not in a bullish rotation yet as the previous outside return has not be violated.
BTC price could oscillate within the wedge (white arrows) or could break out of the wedge and form a potential channel (light blue dotted lines) If BTC...