The trend line was broken with consolidation below, this decrease can be called a pulse, therefore, based on the pulse analysis, we will see a continuation of the decline, the first zone 6800-7100 is the fibbo level and the last hope of bulls.
At the moment, I see flat and bullish signals on the indicators, but from this moment, while we are under 8300 - short...
On the 4H chart, the pair is testing the previous high (PH) line and could potentially see the final wave of the bearish flag (possibly
test 110.60 or the R1 level,110.913) before the bearish breakout. Key confirmation area before trading would be if the pair broke the PH and the EMA,50.
After that confirmation, the trade set up
- Entry position: PH(110.228)
Gold is a nice sell for next week but be careful with any trade which is associated with USD because next week is full of high impact news so careful with your trades.
1st arrow done is T.p
The 2nd arrow down is T.p 2
"Bitcoin is a short! It's going back to 3500!!! Go to Bitmex and leverage everything you own right now!". Sound familiar? If you have been on the internet since Bitcoin's first attempt to retrace off the 5400 high, it should sound very familiar. It is the general consensus among the herd. In fact I have seen this sentiment posted on my comment forums regularly....
Following the Long Gold trade I took 2 weeks ago - I have been looking to get back in and ride what I believe will be a second leg higher.
With the price action today , where it has bounced off support and has started to cycle higher on the 1 hour chart - I am taking 2 trades, one conservative and one with a tighter stop.
The risk is 1% for each,...
If this lower time-frame Bull Flag breaks North as expected we should hit the next target between $9,800 - $10,000. Over another $1,000 from where we are now. The Flag pole was quick and strong which usually indicates there will be a continuation. We don't know when or where it will break along the top of the flag, but we do know by the length of the flagpole...
Hello All - DuncanForex.com with another TradeIdea
This time it is Bitcoin.
With Bitcoin breaking through the key 10,000 level.
I expect it to retrace to this level and if an engulfing candle appears - there could be scope to enter on the upwards trend line.
If it breaks through that main upwards trend line - I will be looking to enter between the 61.8% and...
In the past days RVNUSD has broken out of the consolidation and is now retesting the .78 of the rally.
Typical for a confirmation is a break above or below a valid resistance or support and retest to confirm its value in the market.
Exactly that has happened yesterday and we have seen a volatile answer to the retest of the intersection between the boarder...
This pair was in a triangle chart pattern
Price had a bullish breakout
Trying to re-enter this trade with buying on a pullback
Added the Williams %R indicator - changed settings to 10 period - -10/-90 levels - manually add -50 level
Wait for a price pullback that will cause the %R line to fall below the -50 line
Buy on the candle close above the -50 line
Currently, Litecoin/Bitcoin looks like it could either be a cup and handle or a double top, in this idea, I will represent both possibilities.
The Cup and Handle:
In yellow, the cup and handle can be seen with the resistance at 17752 satoshis, it has a price objective of approximately 24908 satoshis derived by measuring the height of the cup. The to the handle...
Hello my fellow Bitcoinistas!
We still have a several hours left in this week but I'm going to go ahead and post my weekly update for Bitcoin. For those of you following my work you are already very familiar with this chart. You know when we hit bottom. You know when we broke out of the large cup and handle. And you know when the 20/40 weekly MA crossed. You...
Typical these triangles want to break in the same direction as the previous movement. In this case up. I'm just posting this now so I can check on it later to see if it works out.
Your mileage may vary.
With NFP tomorrow, I am not entering now but will after the reaction. If there is much of one.
I see this pair falling further. Weekly signals a short. Multi wick rejections and heavy sell pressure.
Note that like OANDA:EURUSD these Dollar pairs and crosses are heavily manipulated, so they are harder to trade, imo.
Thoughts? Share below
Price movement to the upside was quite strong and pin formed is small; Timing and location of the pin is very good.
First (T1) continuation of (red) sideways is expected and than (T2) possible lower low; could be new ABC move to the downside.