Price hit upper 8x1 and went into a down wave. Looking for bottom 8x1 of second fan to possibly become support. Watch price action if it reaches that line. If it blows through it then watch line to possibly become resistance rather than support.
With the upcoming halvening event of the Bitcoin blockchain and a breakout of the Bitcoin price value (also see my other chart linked below) a new bullish range can form between 475 USD to 675 USD (with more room to the upside). Target 1: 675 USD Target 2: 785 USD Target 3: 890 USD Long entry: below 500 USD Stop loss: 360 USD
The Gann fan from last two historical top and bottom shows we broke the 4/1 angle and we will be heading next to the 8/1 resistance, somewhere around 600. However, the buying force has shown signs of weakness and it's possible that we are headed for a few weeks of downtrend where we could even visit the 4/1 that's become now the support. William's R and money...
EU with a Gann Fan giving a possible short signal on the daily chart.
Gann outlines for support/resist over the coming sessions...
1. Structure (red dotted line) 2. 4/1 Gann Line (2nd toughest resistance) 3. 50% retracement reached of last week's move smack dab at the 4h 100 SMMA 3. RSI If this holds I'm carrying the short till next week. Stop placed at 76.2
Watch areas where the gann angles converge. Pivot lies at 0.0262, below PF1. The first support area is 0.01752. PF2 goes to 0.28 where the advance will halt.
The idea is summed up pretty well by the comments on the chart.
Cant do this endlessly. Stopped by 4/1 gann angle for now. Must be a turning point here.
Gann Fan, Fib retracement, and role-reversal trend lines all indicate a continuation of the intermediate trend pattern, and I am hoping to keep the target to the 107.397 zone. I was looking for support under the current price movement, and there does not seem to be anything significant.
Hello traders, We might assist to the end of a correction cycle , started May-June last year. Gann cycle also coincides with a 50% Fibo retracement from last bullish impulse . This month low should be an inflection point. I´m entering long at current level You can subscribe to my mailing list for FX Alerts : eepurl.com 6 Trading Rules : 1. Never add to a...
Wondering what the communities collective perception of this problem is - what is the correct scale to use when drawing Gann Angles? I believe this is a do able work around, any thoughts?
Yes my placement of the gann fan is odd... but keep a very close eye on this chart.. could net some big $$ in short period of time.. GL!
Yes my placement of the gann fan is odd... but keep a very close eye on this chart.. could net some big $$ in short period of time.. GL!
There has obviously been a ton of attention on gold recently, but silver trades in a very similar fashion to gold, and will also have a nice run as our markets and dollar continue to fall. It seems to be on the verge of a nice breakout, it has establish multiple tops on its trend line and recently broke though its trendline and first fib level. If it can...