The position was taken because of the following aspects: The trend is bullish, and we were waiting for a retest in the $1348 zone so we can take a quick long to a very important level found in $1365. Besides, the upside trendline hasn't been broken so it is another confirmation for us to take that long trade. Furthermore the fibonacci tool has a previous retest...
First published chart. Still learning. Chart should be self explanatory. Feedback always welcome :)
BTCUSD: Price pushes off of 7605, touches 8604 in a matter of hours, BUT it did not close strong. This price action is apparent across the board and for me means ones thing: bulls are not in control, yet. The next scenario that I am anticipating is a failed low formation which needs to unfold above 7401 if buyers are to return and initiate the next bullish...
In the chart there's an overview with the most important levels in terms of volume and price action on LTCUSD currency. Now we're on the 50% of the previous down-leg, so i think that given the correlation with BTCUSD the pair should make a retracement after this 50%'s pullback, only if his son BTCUSD confirm and continue with the bear trend in act.
I think that those levels will be important in the next future for the disruptive currency of BTCUSD on Bitfinex. Trade safely and first of all wait a momentum entry point to invert or follow the trend keeping in mind this monthly levels maps.
I'd like to see more buying opportunities before Bitcoin skyrockets.
ETHUSD Update: Price reaches the 286 support area and rejects it with an initial push back to 310. This may be the beginning of a bullish reversal formation on the larger time frame and I am WATCHING carefully for a new swing trade long. BTC and the rest of the markets broke supports and pushed lows, which is interesting because when BTC pushes highs, these...
Spent some time with NEO tonight. I don't feel like this is a very strong impulse wave but a possible head and shoulders forming and I don't see enough evidence yet to confirm a strong and sustained upward trend. I think the top of this "right shoulder" will peak around .00808 to .00836 before we see a price reversal to around .0075 which is a key level...
Possilbe correction in play. Price holds above 1.1615, continual rise to 1.1909 probable. Break above 1.1785 resistance = rise to 1.1865 likely Break above 1.1865 = Bullish to 1.2000 level. Personal analysis only. Please use your own rules & strategies prior to entering market.
If the CTL is broken on the m30 timeframe and retested I will be taking a sell position.
Selling AUDCHF all the way down to its next key level, once it hits TP we will be looking for a sign of buying.
audusd short back to monthly support. Breakout triangle has formed.
Wait for trend line break and higher high confirmation.
Key levels marked down on the chart, retracement towards major trendline, rejects at important key level longer term (redline), breaks lows of the retracement, take it short to level indicated on the chart. WATCH what price does around 1.0704, this is an important level. Decrease risk because of this level.