Prior to the 4k breakout I expected to range within 3k-6k if the market was truly at a bottom. Clearly we are beyond that, taking a look at the unusual strength of this rally a few conclusions can be formed.
One, the bottom is in. If you have followed me for any amount of time you know I don't make premature decisions. When your entire career, income, and...
as allready mentioned im my previous USDCAD Trading Idea, Bear claimed the 1h GMMA Chart.
As of writting this, Bear is about to turn the 4h GMMA Chart Bearish - MOAR DOWN ;-)
The first down channel break downwards and accelerated into a Stage 2 downchannel.
SR's outlined with Blacklines. Have a closer look on the outlined Box, will see how the...
The 1h chart produced a full GMMA rollover, additionally a neat Down channel born.
A messy HS could be the outcome over the next days, ill keep you updated about the HS.
Stay safe, trade safe.
This overview is purely a market trend analysis. This not an analysis saying we are only going up from here. Also, this analysis is done on Bitstamp, checking the other markets as I wrote this, the points I show are visible on the other major exchanges.
We are seeing a few very important bullish signs for the first time throughout this correction. However, this...
AUDCAD could potentially break resistance and climb back up to .97500 area, or continue down to .95550 area. The HMARB is all green, so we could be prepared to see a break in the bearish trend. I will update as this trade plays out.
FOREXCOM:EURCAD has been sideways since roughly 7/2 thru 7/25/2018. Price finally broke the range and retested the channel before dropping on 7/31 and 8/1. Looks like a nice little short for now. Investors wish to keep the trend bearish. Hope you caught it! ~200 pips if you shorted after the close of the impulse candle.
This is a quick analysis of current conditions. The 4 hour Doji we are looking at closes in about 30 minutes of this writing.
Tom Demark Sequential (T.D. Sequential)
Notes: Imperfect close on the 8.
Guppy Multiple Moving...
I hate to be on this train, but as I watch this unfold the similarities are there. Ripple continues to be a controversial crypto, but I trade with profit in mind first. There is also a undeniable amount of supporters that keep buying every dip.
I am letting you know now, that the odds of this trade playing perfectly are not high. But it is something I will be...
This is very long but I would like to be thorough in this analysis, so stay with me.
I warned throughout that the entire bounce off of support that the rally was not healthy and a breakdown needs to occur. We got the breakdown right out of the symmetrical triangle that has formed over the last several months.
What IS healthy is this breakdown, I would rather...
Keep in mind when I do my analysis, I cycle through the various time frames pointing out potential issues I see or biased price movement. If I point out one Bearish or Bullish quality that does not mean we are going that direction based on that one observation. I typically cycle through the points & then tie it all together at the end in conclusion.
Stay with me...
In today's analysis I will be taking issues and indicator signals I see on various time frames.
As detailed in my last analysis: "I foresee a small drop short term & then another minor unsustainable rally that ultimately leads to our retest of support levels throughout the next 3 days."
So where are we at?
Jumping right into this...
I am going to start with the daily. Then jump to the weekly and continue my analysis down the time frames.
Shown above on the Daily, I have the Guppy Multiple Moving Average (GMMA) setup with a few tweaks to color schemes. My only reason to pull it up is to show our trend off of the support, as we go down the time frames...