I used the Head and SHoulders method to determine what direction this trade will be heading in. IF YOU FIND THIS USEFUL, PLEASE LIKE AND FOLLOW
Run the short stops.... retest 6k... then range some more
Notice the direction of the second impulse we had from 6345 to 6650 begins to taper off towards the end with little follow through.. This Is not the bottom, or beginning for even a small rally. On balance of probability we will form a H&S. This is likely to result in a retest of the lows before further drop.
This is the bullish scenario. APOPHENIA is the tendency for people to see patterns in a set of randomness. However, Bitcoin has shown some obvious cyclical patterns over its infancy that appear to be useful. We are by now most all familiar with the Wall Street cheat sheet, which is really just a graphical representation showing human behavior as a whole....
According to my TA a descending wedge is being formed, RSI levels are oversold. Possible rebound if $6,100 holds. Lets see what happens.
H&S Pattern is being formed. Right shoulder has been formed, from here we should see a downtrend in price. My Targets are Dotted lines. As always this is my trade opinion.
FIB 50 percent retracement level outlook on both wings. Looking for profit on the bearish reversal with the next hours or days. Placing stop loss at outside of blue Resistance levels. Setting up sell position anywhere underneath blue resistance level. Anyone needing help in the markets. Education. harmonic scans. Entries. email. Iamtradeking23@gmail.com lets work.
update on USDCHF LOOK TO RE ENTER IF YOU MISSED THE TRADE
IF YOU MISSED THE TRADE THATS OKAY.. LOOK FOR A SELL LIMIT AT THIS LEVELS
Just read the chart and share your opinion !! Like for bullish and comment for Bearish.
We just had a breakout from Pot's accumulation period so I'm looking to see a new market cycle form. We are currently sitting in the right shoulder on the Inverse Head&Shoulder Formation waiting for a breakout of the neckline. RSI showing momentum back on the buyers side
|YEN| to continue contraction until 106 levels then bounce like a queen. Cheers, Keops
Good Morning, Spotted an ascending triangle via GBP/JPY, lower trend line is heavily respected. Waiting for another retest of the higher trend line (illustrated above). Should price retest, look for an opportunity to go short. 147.950 has been a historic resistance since November, expecting it to do so again. Look for confirmation to enter, I also advise you to...
Keep Your charts clean and simple, breakout of descending trendline, price came back to retest and formed an indecision candle at 32% retracement
Potential Inverse Head And Shoulder on the 1D and 4H timeframe, waiting for more of a confirmation of the H&S to continue playing out before taking a position to attack previous high of 0.77245, BANK HOLIDAY Monday so no positions will be taken.