Let's take a look at a bigger picture of BTC moves.
It appears that a long run up must end with a bit of a 'rest'.
Normally, it is roughly a 40% (of the size of the run up) reduction or so the past dictates. The past year's events of this nature were circled on the chart.
It appears that last year it was also around June.
Interestingly this price reduction would...
Trading Style: Swing trading 4hr/Daily/Weekly
Doji at the top of the trend confirmed, by price trading below $3915 increasing the odds of a period of sideways trading or a market pullback in the following weeks.
BTC last weekly higher low $3337.87, BTC has grind its way all the way to the exponentials without establishing a new weekly...
As you can see the USD/JPY at the moment is in a clear uptrend. We are at a point now where we are about to pass through some important resistance levels which could be a big turning point for the pair. The first possible downtrend is due to the resistance level we saw appear twice last month which can be identified by the two down arrows on the left of the chart....
Adding a short stop order as soon as I get price action confirmation from weekly and daily charts (waiting for the bounce). TPs are at S2 pivot and S2 fib lines (pink), while SL is near the blue upper trend...
waiting for confirmation of break of the current monthly trendline support, after that a good move to the downside to price 1.28256, that support will be tested for a further break to create the new lower low in the monthly perspective.
for the first trade, wait until price break support - 0.8572 (horizontal blue line).
Then go long once price bounce the big support ( yellow line).
--------------> LONG TERM TRADE <--------------------
If price do not break the major resistance trend line (red) on 1Day chart, there is Short opportunity between the triangle. If price break the support trend line (green), we can look for lower TP.
Price currently trading below resistance 0.783 - 0.775 zone and RSI below overbought levels. Bearish RSI divergence plus possible bearish Gartley pattern suggests start of bearish trend to support level 0.703
From 0.703 - 0.680 ( point D - point X of the Gartley pattern ) we can look to go Long, target 1 at 0.733 and target 2 at 0.753
If price trades above...
EURGBP just reached a beautiful trendline and broke the small H1 TRENDLINE meaning that the trend is about to retrace OR reverse, But i'm expecting more a RETRACE than A reversal, So lets see! I'm expecting the market to do a DOUBLE TOP before going back down, our first target should be around 0.84300 and then should go back up around 0.86500-0.87 to form a DOUBLE...
Hey guys. Thought I would give you another post before I return to treatment. Anyways, I am featuring a commodity which I haven't done yet so I don't know how many of you will be interested but regardless, let's get into the trade.
This is one of the best setups I have seen in a while. Silver has a reputation of sticking to trendlines religiously which I am very...