It has been trading withing a descending wedge that has very strong monthly levels and respecting the trend lines that give it support or resistance to made it stay near its lowest support level of 0.007972 BTC and it should test the 0.012775 BTC level at least one before starting a new move. It created a daily support of 0.009872 BTC and its been above since a...
4HR and 1HR Timeframe depicts a double top. Price broke the neckline and is now currently retracing. Price is sitting at Fib Level 38.20% (Green Zone) - Price action indicates that bears have some momentum. I think bears will start to reach resistance right around Fib Level 50.00% if bears continue to remain strong last enter could be around Fib Level 60.00%. If...
I like the range of price that I see on the Monthly time chart. From what I observe the pair is in an overall uptrend. Price broke a major support level and is now retracing back up for what I think could be a re-test. Fibonacci Retracement level 0.5 is in sync with the same broken major support level so I would keep an eye out. According to price action on the 4...
Reasons for open position:
- buy zone is 8450-8550
Stop below 8450
Take profit 1/2 and higher, depends on your greed
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If you look back we had 3 weeks of support and were on our third week of resistance going up if we break and hold support then we will see these levels if we break and dont then refer to last eth chart for support levels. This is a weekly so we might blast up then pull back so watch the levels of support for anymore major moves
I SEE MYSELF TRAP IN THE DIRECTION OF THOSE LAST GOLD WICKS. IT´S VERY IMPORTANT TO KNOW WHAT THEY´RE DOING. IN THIS CASE WE HAD 4 REJECTIONS INTO THAT MAJOR 12.75$ WEEKLY SUPPORT LEVEL. GRABBING AND TRAPPING LIQUIDITY. ALSO IT WAS THE LAST WEEK CANDLESTICK CLOSURE SO WE WE´RE EXPECTING A MAJOR MOVE TO CLOSE THAT MONTHLY CANDLESTICK. AND WHICH CONFIRM US THE LONG...
NEO is looking interesting to me at the moment; a great looking chart.
On the 4h chart we have a change in trend with a higher high proceeded by a higher low (bullish).
Then followed by a double top with a divergence in rsi and lowering vol (bearish).
At the time of this chart we could be making a perfect Larger Double Bottom (bullish).
If it breaks the blue line...
I think we test the lower levels at $5300~ first.
If support at $5300 breaks, I would argue $4150~ which would give us a chance to fill the gap below. (small but note worthy!)
Breaking $8450 would null this chart and we might look to aim for $9000 - $10,300 before the bulls run out of steam.
I am in a short from $8120.
Cheers, stay safe out there.
#TRON or #TRX will probably test again the newly created monthly level of 308 satoshis before moving again upwards creating a new move that will generated a possible accumulation zone because it is coming from a distribution period. There are 2 trend lines that were generated from the distribution period that formed a descending wedge that has been marking how the...
GBP/EUR is in an overall downtrend. Double top setup is in place. Price has retested neckline. Now price will probably consolidate considering that it is now hitting a key level. Ideal move: Price breaks key level and falls to the downside. I think the probability of price going to the upside is about 25% and price to the downside is about 75%.
USD/AUD is approaching a level of note. Price has broken and retraced from this resistance level before. Overall I think price will consolidate in this level for a bit and then choose either to head further up or reverse to the downside. Either or it is important to be ready for both.
Trading Journal #4
It is visible that #BTC couldn't make it past the 8500 USD level and it was then rejected which will probably made it back to the trend line as low as 7000 USD and it will try to resume the trading pattern just above the trend line and below the weekly level created some months ago around 7429 USD. I believe this is the start of a wedge that will probably end...