Price is in a tight range currently, we could see a potential breakout to the downside to retest its broken trendline, before continuing its uptrend.. Watch price once at the green zone
ETHUSD update: The 1291 minor support level has generally held while price is attempting to retest the level again. The resulting higher low formation is a reversal structure that implies strength. On top of that price has been consolidating into a triangle which often results in trend continuation. I wrote about the swing trade potential around the 1291 level in...
Still watching this pair, we now have got a nice correction, rejecting daily support. Watch for a break of the counter trendline to recent highs & potentially new highs. Patience time will tell for this crypto ..
Awaiting a break of the 50% fib for shorts to create a (higher low), before a continuation higher..
Price now completing its higher low, sitting on previous consolidation now acting as support, will we be seeing a new higher high shortly?!
This is what ill be looking for next on the euro/dollar. Price is currently testing 1.19250 daily resistance, if we get a daily close below the next area I will be looking at is 1.19000 where I will look to see how price reacts, & potentially a pullback to the 61.8% fib is likely to make a 3rd touch to the channel bottom.
Will be watching for price action to choose a direction, currently I believe bullish but will wait for more confirmation..
Whenever, the price goes up or down too fast, the price almost always retraces. Bitcoin has gone down 20% over the last two days, and is looking to make a short term bounce. A quick glance at the RSI and we see that it has broken the former trend line, which now is the support line. The RSI is no longer in a downtrend, but starting a uptrend. There also a cross...
Price is currently at daily resistance, I am looking for a retracement for longs or a daily break & retest above resistance turning support for buy opportunities..
Elliot wave waiting for higher low to complete, will be watching for touch to the 50 fib for longs..
LTCUSD update: Consolidation breakout occurred with price now trading just under 250. At the moment, based on the current structure, momentum is bullish and is more likely to work its way into the 285 to 321 resistance zone. Just like BTC, this market has formed a higher low in recent price action which is clear momentum reversal. This formation has lead to the...
Price close below top trendline, expecting a possible slight retracement to broken resistance turning into support...
BTCUSD update: Higher low in progress just above the minor support area of 12483 to 12139 as bearish price momentum continues to maintain control. Now is the time to watch carefully for a swing trade long entry. As I wrote about in my previous report, there is an infrequent broader reversal structure in play. The subsequent resistance level has been taken out...
Price is due for a higher low now back to daily weekly support, before another move to the upside
Take a short scenic route to some profits. Why a long trade? Higher lows developed. Price has been away from the 50 sma for awhile. Macd has crossed above the red signal line. Watch pullback back to between 38.2% and 61.8% fibs then long. Take Profit at the 50 sma. Confluence with 127.2% fib line. Tell us how you would trade this pair!
LTCUSD update: Retracing from 370 high, price is beginning to hold. Is this a good place to buy for the next leg up? And how high can it go? From the short term trading perspective, buying the pullback in a strong market is the more effective behavior compared to buying into highs. The tough part is when do you buy into the pullback? And how do you know it won't...
Price is now at a decision point (Uptrend line) where im watching for a break & retest or a bounce to the upside, as it looks like price is sitting on the 50% fib as well. Will need extra confirmation because the 50 fib is not always 100% accurate..
BTCUSD update: A move off the 17171 all time high to 13010 in two days. 5K move in two days is a demonstration of how much risk is involved when buying into this market at such levels. What is even more amazing is this retrace is within proportion of the current price action. In other words, this market is not bearish YET. The nearest relevant support measured...