Daily charts represent series of data points where each data point is comprised of the price movement for a single day of trading. This chart type has been used for a long time by traders and typically applicable for swing or position trading.
Yesterday we said that it is not sufficient context for taking long position and action of last week makes us worry that downside action could continue.
Despite that BTC has climbed slightly higher - we still treat this as retracement, but 11.25K area will be important for us today by some reasons. First is, this is short-term border between...
Good morning ladies and gents. I am currently in favor of the descending triangle over the symmetrical triangle simply because each swing low tests a support zone compared to your swing highs which are just making drastic lower lows without an actual resistance zone. That being said, let's look at this in a bullish perspective if the breakout happened to the...
Today we can't say anything sweet to the bulls. Recent action shape doesn't correspond to idea of upside reversal and mostly reminds retracement due reaching of daily oversold area on Friday.
Now, BTC is not at oversold anymore, and on 4H chart we have signs of bearish dynamic pressure as trend stands Bullish by MACD but price action shows no...
In the past weeks AUD was very weak, we can see a consolidation zone for a while but in the long term this trade is strong bullish. Lets patiently wait for the trade , use risk menagment and lets see the results.
Wish you all a profitabile week .
Now you probably understand why we've paid so much attention yesterday to 10.30K area. This is decisive level for Bitcoin market. And this is the reason why we've said yesterday - do nothing, wait for reaction
on this level.
Now, if you let me, there are few observations:
1. Market has dropped with acceleration through 5/8 Fib support, ignoreing...
Double bottom confirmed for AUDJPY on higher time frames and whilst we have a wedge forming, I do not think it will be able to break below the yearly lows at it's current state. This could be invalidated by fundamentals such as the trade war with the USA, but lets see how the technical analysis handles.
:eyes: HA turned RED
IF from this day from the beginning was in short IMO TP if can and fix SL for safe play.
The bull trend is still not over and tho we might get down more (it is imo on the table also) we also may have some more red candles after this one closes red daily ( but first need to close...
Nice pinbar formed on Friday at 80% retracement. I think it is a good time to buy against otherwise strong short term bearish move. It came out of Elliott triangle, so I assume it is the end of the cycle. Price action in channel is choppy and at the lower trendline, the last move is extended. The price should hit T1 soon.
So, retracement that we've discussed last week, down from our daily XOP target is started. Now we turn to second problem - how to estimate its bottom.
Just to remind you - we have medium-term bullish view on BTC and suggest that it should reach 15.3K area. Thus, this retracement is our way to get on board. Trade it down is not forbidden, of...
We got some wild moves on bitcoin this weekend.
Do not be surprised if we drop to 10800-10900$ zone before continuing higher.
Daily supply has not been tested since breakout. For sustainable growth we need a re-test. Next two days will tell us where price is headed.
I'll try to update this idea in following days.
Let's have profitable week ahead!
Howdy folks, hope you're OK,
Let's keep up with our H&S pattern on 4H chart. Market finally has appointed the bottom of right arm and technically setup becomes simple. Now it is difficult to say whether upside AB=CD retracement will happen or not.
Personally, I'm tending to bearish view as we expect dollar supportive as GDP data today as Fed statement next...