DJ Utilities Index - approaching all time high for the second time in two months.
The price is accelerated and pushing to break up the resistance level ( all time high )
Hello all,
With a little spare time on my hands today (Google having issues today...ugh), I thought I would take the opportunity to review/comment on Bitcoin's price performance from a higher time frame perspective. Here then is Bitcoin's Daily price chart (Finex) over the past four months with notes and levels.
Looking backwards: As has been frequently commented...
Got 2 short setups in here.
1st is at the bearish candle at the double tops
Requirements are that the left shoulder must be in overbought RSI followed by a weaker test of that structure resistance level. Note the 3 point bearish on the RSI.
2nd is the 2.618 trade. Target 1 has been hit at the 1.272 extension and hoping to see target 2 at the 1.886 extension...
A very beautiful setup which I took without thinking. We got a double top followed by a fakey break above resistance and then a bearish weaker retest of that resistance on the RSI followed by doji/spinning top. Took it and sky dived it down to first target. Second possible target is between the 1.414 and 1.618 fib extension where the next support is. From here we...
We may be on the eve of a double top, but we do need confirmation. The candles on the next coming days may confirm or not but we need to observe them.
We are at an oversold level, and if there is a fall in the market for the next two days, we may assume that we are at the formation of a double top. Which then means that the neck line is at 3450, and perfectly fit...
At this point it is pretty clean and simple. AUDUSD has drawn a Double Top pattern which could signal a steeper drop for the Australian dollar. The price pattern will be confirmed when the price will break the base line.
Fundamentals are not that good for Australia. Westpac Consumer sentiment dropped, Iron ore at September 2012 lows, China is not importing that...
Update from the previous chart for USDNOK, we see three patterns confirming the target of 5.83530,
Risks:
20/05: Norway GDP release forecast 1.34%. Prev 1.1% y/y | forecast 1.52%. Prev -0.2% q/q
22/05: Unemployment rate. Its been stable at 3.5%, so any downside reading could pose some threats to this trade.
$ALK tremendous bullish trend might have reached a short-term top @96. The significant double bottom followed by a double top seems to stop $ALK to rise further at the moment. A possible short to 86.71 or even 82 is likely, according to RSI divergence.
The NZD vs USD is approaching it's all time high @ 88415.Currently price is in an uptrend and pushing towards that level with about 130 pips to go.Maybe some time next week price reaches this level but then I am expecting this level to hold and price drop down to possibly a prior support level. Last time price rejected this level and fell nearly 1500 pips. Looking...
Made an aggressive entry this morning @0.8625 hoping this Cypher pattern to unfold... The double tops also suggest
a possible 2.618 setup for further proof downside. For now I need to see break and close below 0.8607
Looking at JO the recent strength in looks super bullish. Eventhough im proposing the alternate idea of a double top, I still think the bullish trend is intact. However, i can't help but to think about the downside risk. I believe coffee needs to consolidate, either though price ( a sell off) or through time (sideways movement.) I don't feel comfortable going...
GBPUSD has shown these three qualities:
1. End of Five Impulse Elliott Waves
2. Double Top
3. Huge Bearish Divergence.
I think we might see a correction ahead.
Cheers.
