In hindsight, it’s no surprise that BTCUSD was taken over by the bears for sometime now. We can clearly see that there was a breakout from an ascending channel after it peaked at 10,400 at about the 13th of February. There is however hope for the bulls. We may see a reversal at the 8,200 zone as there is currently some divergence on the RSI on the 4H timeframe,...
Entered this risk entry trade at 144.794 with a 35 pip stop above the structure.
Confluence Factors:
- Price is in a corrective phase from an impulse down.
- Price has touched the upper trendline for the 3rd time.
- Price has approached this 3rd touch with an ascending structure.
- Potential evening star has been formed on the 4HR Chart.
Target 1 is a the bottom...
Context
Notice that I used the word "indication", and not indicator. By using solely structures and forecasts to keep ahead of the market, these are especially important. Flags. Channels. Wedges. In this scenario, it can be seen that there is a strong impulse from the upside after creating the second touch, and coming down for the third touch on the bottom of the...
Context
Analysing from the perspective of both the buyer and the seller is of paramount importance. By analysing from both perspectives, you would be able to weigh both charts and come to a stronger conclusion instead of looking at it from neutral eyes. Below are examples of the USDCHF charts whose structures are drawn from the sentiment of a seller.
Weekly...
Please like and comment your opinion, so we all can learn.
I have now drawn on the new valid trend lines and bull falg structure. Price is currently hovering just below the upper trend channel of the "to be" Bull Flag. When price breaks, possibly on monday. We may see large impulsive moves up. High risk high reward stock atm.
If you like the analysis, Please Like and Follow me for more.
View my previous post of Akorn inc. I evolved the bull flag slightly and found the bottom line the flag respects. An entry at current price would be ideal.
Possibility for long term Buy of Eur/Cad. If price respects the double bottom area and rejects of it impulsively we can likely see price ranging towards 1.5. If price then breaks upper HTF trend channel, there will be massive potential for high percentage returns.
