The one thing about BTC, is that it's moves is somewhat predictable. The latest excitement about this last move is somewhat the same. With people going long and getting rekt. BTC is in another bear flag and has a 80% possibility of breaking down from here, so lets see.
A pretty bullish pair that is above the previous buy zone and it is having a consolidation right now.
Such formation has a strong tendency of breaking towards the upside. Agressive trader can look for a buying opportunity.
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My feelings are the GBPUSD pair is really dependent on Brexit news alone. Today Mark Carney helped us bulls along nicely and made this bull flag that! It's also in over sold territory which makes me think there are more rises this week to come! I truly believe the Brexit debacle is nearly over and we should see GBP return to a normal level of 1.40 in the next year ...
For these trade we have 2 options:
- Go LONG when price goes around support level (green line) IMPORTANT: still need reversal candle confirmation
- If bears push price down the green support level, then we wait for price to cross the 0.618 retracement at 1.30886 and then go SHORT
Nice setup with good R&R. I just bought the euro agianst the dollar. We at a major support level and it respected it. You could wait for a break of the flag but this wil change you risk for reward. remember do not just copy a trade from someone else try to understand why they should trade it.
- Daily Inverted head and shoulders
- 4H Bullish ...
IBN is currently showing a bull flag with a support at $ 9.81. As the resistance line of the bull flag and the support line intersect in the next few days, an outbreak up or down is conceivable. Depending on the outcome of this constellation, a long or short position could be worthwhile.
I believe that it is possible to beat the market through a consistent and unemotional approach. This is primarily achieved through preparing instead of reacting. Click here to learn more about how I use the indicators below and Click here to get my complete trading strategy! Please be advised that I swing trade and will often hold onto a position for > 1 month. ...
Here on the 4H GBPAUD we have a nice flag pattern after bouncing from the 50EMA. After breaking out of the flag we returned to the trend line and put in a Bearish Engulfing candle. This gives me a reason to short this market for at least 1:1 with a stop loss of 97pips.