AUD/JPY, Weekly chart: 10 years long(!) support zone + "Morning Star" candle pattern + "Golden Cross" on Ichimoku (9,26,52). BUT there is resistance line on the way.
We saw a great pullback buy opportunity today in the NZDUSD market! This was a great scale in for those of you who entered the original trade on 6/10. This is also a great trade if you are just entering the market for the first time. The way I see this, you can profit from this twice. You could have placed your buy limit at 0.65622 which would have been placed at...
EUR/CHF, Daily chart: Breakout & Retest of support zone + Shooting Star/Pin bar candle pattern
GBP/CAD, Daily chart: 1,5 years long support zone + Side of BB (20,2) + Oversold on RSI(14)
GBP/JPY, Daily chart: 2 years long support zone + Hammer/Pin bar candle pattern + Divergence & Oversold on RSI(14)
Detected Tail at value low.
Its interesting to see how certain bias's can creep up on you while trading. If you'll remember yesterday I published 2 ideas on CHFJPY. Originally, I was under the impression that the market would drop as soon as it touched resistance and reverse down to the bottom of the Daily channel where we would have set our original Target. Then, Price broke through the...
After dovish fed, CHF has been the main beneficiary, USD/CHF tumbled 4 days in a row, pushing CHF high against all majors. GBP/CHF touches key horizontal support with bullish divergence on daily chart. Need to see if it forms tweezer bottoms on daily chart. Seems to rally ahead to aim daily 5, 10 and 20sma respectively.
The Primary Trend (PT) given by the Monthly TIME BAR (MTB) is currently Bearish The Secondary Trend (ST), given by the Weekly TIME BAR (WTB) is currently Bullish The Medium Term Trend (MTT), given by the Daily TIME BAR (DTB) is currently Bullish The Short Term Trend (STT), given by the Four Hour TIME BAR (FHTB) is currently Bullish In light of the above...
Looking at the 4HR chart, we see mixture of descending channels that span a few time frames. This could be a potential Buy opportunity for some within the next 2 weeks to make anywhere between 600-800 units against BTC.
This is my first time really looking into and looking for patterns within a crypto market. I believe that the 4HR chart shows a good ascending channel where price action had just bounced back from the patterns support line. This would indicate that price action will be dropping a few hundred pips within the next 2 weeks before continuing its long-term uptrend.
Looking in at the Daily chart, we can see a series of potential trading opportunities that one might have profited from. Multiple descending channels yet price never dropped so low so as to touch the 79.809 support line. Looking in at the 4HR chart, we see what looks to be the beginning of a reversal impulse, correction, impulse with price entering the next...
Looking at the Weekly chart, we can see the formation of a descending wedge Looking into the Daily chart, we see yet again another descending wedge. Its a more defined wedge on the 4HR chart. As we can see from the 4HR chart, not only is there a descending wedge, but we actually see that price has just broken past the resistance line of the pattern. It is...
Pattern: Inverse Head and Shoulders on 4H, Channel Down on 1H. Signal: Bearish as the price was rejected on the top of the neckline and the 1H Channel Down is pricing a new Lower High. Target: 1.2640.
Pattern: Channel Down on 1D. Signal: Bearish as the price entered the Lower High belt. Target: 1.1115 (1D Support).
Pattern: Channel Up on 1D. Signal: Bullish if the price approaches the 7.46740 Support. Target: 7.4700 (4H Resistance).
Pattern: 4H Rectangle. Signal: Bullish once the price tests the 1.13630 Support. Target: 1.14400 (just below the first Resistance).