If one looks at at the last I.T. decline dec 2015 to feb 2016 you will see the drop was 31.8 % in the value of the peak and if you look for a similar drop it is 1108 it is also the bottom of the BB bands on the weekly chart . if you look back to 2002 print low every drop on the weekly saw the bottom of the bands before the next major rally the price...
Really quick video on XRP / BTC paring since it's been over a week since i updated.
In a nutshell, price action has played out exactly as I expected and mentioned in the last video. IT"S GOING DOWN. In that previous video, I mentioned that I thought price action just wanted to move back to the 200EMA on the Daily chart and that appears to be exactly what...
Quick update this evening to follow my previous video and updates over the past couple of days.
We saw some price action put in a little movement to the upside, which slightly expected, but I really thought we might see a little more downside then we did. We did hit spike down to the $200 mark and pull back.
Running through my charts this evening, I'm still...
Here I am with my vision of EUR/NZD pair. It looks like we are at critical point right now. Potential break is becoming more and more real with every price drop below the line. This is a long-term chart and hence the reversal can open the road down to 1.61 support line. On the other hand, it could be a potential bounce upward. Should we jump into/out of the trade?...
The US Equity market has been visibly gearing for a correction since mid Jan this year (please see related comments below).
A 10% fall in one week is a good start; We are now half way to a new, bear paradigm.
Yesterday was technically as bad, if not worse, than Monday:
- The S&P 500 was in a downtrend all day;
- It fell on greater volume than average (2x);
While I would like to stay that XRP it about to go on a massive bull run again, I just don't think that's going to happen yet.
I'm thinking we are going to see more downside on XRP and I've identified to downside targets potentially.
We shall see...
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XAUUSD Gold Head and Shoulders Top
Recent price action has created a head and shoulders top
formation with a minimum downside target at 1284. Lesser
support at 1306 may give rise to a 10 point or so rally before
the downtrend resumes. Whilst below 1328 gold will remain in
a very weak technical position
S&P 500 Index: SPX
Same problem as as the Dow - risen to fill the gap and now
retesting near term lows at 27330 - The first real support lies
at 27130 and it looks likely it will be tested soon. Failure to
hold here will signal further near term weakness back to
26687 and potentially, if this level fails, back to 26007
Still running within the same sets of rising parallels, BTG took 10 days to more than double from its lows. A laggard.
It's still unwinding, making a similar continuation pattern to the one that has just preceeded it...it may try to rally one
more time to 348/9 but once 321 gives way it should fall to 299-289 range, worth shorting. Whilst trapped within...
USDTRY US Dollar Turkish Lira
This is striking impulse wave: and when it breaks down it's a fabulous short
Cannot short this whilst within the power of this massive
impulse wave. But once it falls out of the parallel it becomes
a massive short - once broken, look for any retest of the
parallel from the underside once broken as a second shorting
We have entry signal on 60m timeframe: LLLC with RSI being overbought.
Nice downside potential of 100+ pips.
If I hit Target1 then I will trail stops to Target2.
Stop Loss is above resistance level of previous outside return.
Short on DXY. No faith in the USD. I personally think we are ready for the crash. Price action is indicating huge sells
on USD . Enjoy the fall :)
Target 1: 1:1.25
Target 2: 1:2
Target 3: 1:3.8
I believe that we are temporarily bearish on EURGBP. We are not ready to fully decide whether or not to say that we are in a trend reversal, but
from what I see, it is a possibility. Price has been respecting the .8850 Montly Level/Resistance. If we break the strong level of .8750. We may be in
store to see a trend reversal. We've already broken the monthly and...
I Am short on EURGBP. I feel at the monthly level .8800, we have broken to the upside because of the false breakout due to news. To me that was just noise and manipulation, and we have broken back under monthly resistance. I got in last night but I am posting my current analysis and prediction on this pair.
First Target: 1:2
Second Target: 1:5