descending channel reversal possible
this could be the temp bottom for the day and a nice bounce could occur with such a large drop
im trading these two not btc market my entries
CNN Business - The World is on a brink of a Trade War
US impose tariffs on $50 Billion worth of Chinese Exports
Chinese quickly outlined new import taxes on US Products worth $3 Billion
Result is a drop in the Dollar Index
Benefit of this is when Dollar drops precious metal pop
Gold broke bullish out of descending wedge but too late to enter
Silver has given us...
Looking at EUR/USD on the D1 Timeframe, from a technical analysis stand point the market is currently ranging within a descending channel, making new lower highs and new lower lows.
I see the market moving as a bullish retracement making new lower high being made on the 23.6 fibonacci level. This is confirmed from the strong bullish pin bar signal after touching...
according to my analysis xrp/btc is will go up from this price because it is at strong support , descending channel broke , rsi super oversold , and got an engulfing candle so it may go to 61.8 level of fibonacci as shown above.
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Very simple market structure here. The daily time frame shows the market in a bearish trend. With an impluse, a correction to the upside then continuation to the downside.
There has been 3 days of multiple rejections in the descending channel and has now created a bearish shooting star, suggesting a strong move towards the downside.
Watch the comments as I will...
The descending channel started back when the price hit the 4033 satoshis level in which I started to watch the price slowly loose its value. There was an attempt to break the pattern when it was above the 2795 satoshis monthly level but soon after loose the momentum and fall back to the 2130 satoshis monthly level. Now it can just think of it to hit the 700...
POLYBTC is situating in descending channel and price touched this support line.
RSI is bellow 30 (~25)
This is a good entry 1500-1700 sat
Target is ~2000-2300-2600-2800-3150,
eurusd is in a descending channel with price retesting the resistance zone. Analysed this pair before but it flopped due to fundamental news that came out.
chf/usd has been in this range for sometime with the occasional breakout to the upside however price decided to go back into that range in the form of a descending channel. Waiting for a retest of the resistance zone to confirm price is still following inside that descending channel.
Price has been moving in a descending channel, in a series of impulses and correction, and we can expect prices to continue to move to the downside. There is potential for short term long entries due to an inverse head and shoulders pattern, which is a reversal pattern, but first price has to break the neckline and this will give us confirmation to enter...
As is shown by the trending channel, it is likely that the EURUSD pairing will drop further to meet the downtrend support, and then rise to the upper trend resistance.
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Overall I think we're still in for some selling pressure down to the 80.50 - 81.00 region.
We're seeing some really clean price action after a break of the 83.00 handle, with price making lower highs and lower lows.
The EMA Waves throughout the higher and lower timeframes are aligned.
If this does play out it'd form a 3 drives pattern, which I have seen...
As you can see we have upward trend with a series of higher highs and high lower being squeezed and forming a wedge.
Then price makes a lower low at 0.94990. This is a change in market structure, so we can assume price is now in a downward trend.
Price has then pulled back to a resistance area around 0.9025 to create a lower high giving more confirmation to a...
