So this is my first published chart work on Trading View.
Using the fibonacci tool, I see the price action hit the 0.0% on 11/4 and then spiked close to the -27.0% on 11/7
Then after dropping down to the 61.80% and testing that zone for a couple of days before a spike down to the 78.6%
all while pretty much respecting the trend line and counter-trend...
Time Frame: 2 hrs
>It looks like Eth is finishing a head & shoulder in short term (2hrs), but a break above 525 may also abort this pattern and trigger an uptrend price up to 540.
>A break in 540 may trigger a bullish momentum, however a break below 480 may abort a bullish momentum and trigger a sell off up to 430
>The price is currently getting squeezed between...
Note: The chart is shown on the COINFLOOR:BTCGBP though BITSTAMP:BTCUSD are nearly twins of each other.
Why I think we are nearing the reversal:
* We are still in the down trend (the channel marked by the red lines).
* We are forming a head and shoulders pattern, which would indicate the incoming drop (short term though). The drop will bounce of the current...
This is my first chart so if you have any tips feel free to pass them on.
I'm using the Elliot Wave Theory alongside Fibbonaci Retracements to show the Wave 5 upward trend of Ark currently.
Let me know your thoughts.
I've singled out prior balance areas using Auction Market Theory, obviously they're not exact. I threw up a fib to give me an idea for a new balance area to develop. I'll wait until it's developed but i'll look for short positions as long as it's below #12 prior bal area low. If it hits invalidation area i'll wait until a more defined trend/area develops before...
Good Morning Traders!
Weekly downtrend in GBPAUD looks strong for go SHORT in long-term if break out occurs in the yellow sopport level. But expected rebounce in the red resistance level can make us to go LONG for awhile for few pips in short-term and may it break out still blue resistance level. Action Price will show us the way to take.
Pd: feedback is always...
A short entry is suggested when the D point of the pattern in confirmed. The stop loss for the order should be placed at the upper resistance level. The take profit for the order should be placed at the 38.2-88.6% fibonacci retracement of CD, depending on the fundamental analysis.
After the sharp move down, we see a rising wedge forming on H1/H4 charts. This type of wedge is usually a corrective structure, before continuation of the move (in this case a move down). Short positions could be initiated if the price breaks the bottom trend line (a good idea might be waiting for a confirmation of the break, by testing the broken trend line)....
Starting on the weekly chart we can see last weeks bullish engulfing candle broke the 2/1 level on the Gann Fan and the 55 Moving Average, i will be going long at 1.1110 where the ma currently sits, with a stop loss below the 2/1 level at 1.1020. H4 chart is currently on a pullback and favourable for entry, i am anticipating a break of the 0.23 fib with a tp set...
Looking to see the corrective move complete from the recent Britex burst.
Bears are likely to step in at the next level of resistance @1.1168, I have placed a limit order @1.11603 (I front run my orders).
If the Bears fail to step in then i'll look to get in again within the resistance zone.
.5% risk on the table as I anticipate this a be a swing point so...
Hourly macd about to cross down, TP at the bottom of the Ichi at around 1.107. It may go up a little more to 1.1115 as there is divergence on the 15M.
4HR macd supporting as well, as well as Fib retrace .38 at that point :)