Looking at this W formation I believe the market will reach this particular TP and during that zone continue to the downside. Link to related idea:
All the retracement extentions and fibs line up perfectly, id be surprised if it didnt happen
There is finally some buying volume coming through, but too early to call anything. It is technically a lower high, but reached the wicks of the previous low and rebounded with good volume. Definitely wait for confirmation before going long because it is also going through a Bollinger Squeeze and has bounced off the MAs.
Lagging Span Weekly indicates a double top right on resistance. RSI indicated a reversal trend with bearish move. Watchout guys for the future and protect your capital. Trade safe, Stay Safe PEACE !
Well, i decided to share my in depth analysis on USDCAD. So let's start on November 2007 the usdcad price bottomed at 0.9 area, then it bounced hard consolidated a bit and went on a extreme rally that topped on March 2009 after bulls failed to push higher then 1.3 area, then bulls got punished hard by bears followed by a brutal bear-market that end after 5 years...
Looks like Bitcoin took a nap all the way to 11,600 or so but rose to 11,800+ RSI looking stretched at 56 -60 but many people were calling a double top on BTC so not for sure if the resistance will stand up from another push to 12k. On the 4hr we see green - is this a sign of a trend turning? Let's keep a close eye on this one Whats your call? Long / Short?...
1) Price broken neckline 2) Price at a major zone 3) double top rejection - potential rejection 4) need to wait for a retest towards neckline with clear rejection off 5) Price moving in a bearish pattern towards the major zone
1)Double top at 4hrs 2) fib rejection from 78% 3) NECKLINE BREAK 4) 15mins HSD and price retest the neckline 5) 1hr Bearish engulfing candle along with long wick bearish candle
TF: 12 Hr DXY looks pretty overold and likely needs a correction. Bullish divergence can be seen developing on the 12 hr for the RSI and slightly on the MACD. Price is also near another significant low which may produce a double bottom, which would be another bullish reversal confirmation. Let me know what your idea is for DXY below. See my previous DXY analysis here:
It might be a double bottom figure in this chart and head to next resistance
Reasons I took this trade: - Double bottom formed on the larger timeframe / Bounce of strong resistance. - Pair is oversold on many timeframes. - Tight stop loss / Good R:R (Risk:Reward Ratio) - Strong BULLISH candle on 1h timeframe ( Piercing Line Pattern & Possible Bullish Hammer ) - MACD crossover Entry : 11.44453 (roughly) Stop Loss: 11.39150 TP1:...
Clues: Trendline breakthrough, 50 ema crosses the 200, tweezer bottoms on weekly TF, W formation. We are at level 1 expecting level 2 to form this week. Look out the news for GBP this week! Note: Please do YOUR OWN analysis before you enter any trade! Good luck fellow traders ...!!
GBPAUD creates Double Bottom According to Plancton's strategy, we can set a nice order ––––– Follow the Shrimp 🦐 Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
We all know it takes at least 3 the major tests before breaking an all time high. We've just hit the first test of the latest all time high. Catch the fall now before it's too late!