BTCUSD update: The key resistance is the 4203 to 4548 area which is the .618 of the recent bearish swing. If price fails off of this area, it will need to find support above 3690 in order to maintain the current bullish structure and a chance to push beyond the 4548 level. If 3690 breaks, that could be the beginning of a correction that can take price back to the...
ETHUSD Update: Shallow higher low established at the 238 level while price is attempting to push the minor resistance at the 259 to 262 area. The problem is momentum is still bearish and the 271 to 291 resistance zone ahead can lead to a lower high. The higher low in place is a great example of a reversal formation, the problem is it has appeared in a very...
ETHUSD Update: 280 support revisited while bearish momentum continues to push prices lower. Even though this correction still has room to test even lower prices, it is normal and will offer a better opportunity to buy, just not yet. As I wrote about a few reports ago, 320 was a significant break and maybe now you can see why. If you look at a weekly chart, it is...
ETHUSD Update: Price action is consolidating within the 309 to 290 area and triangles like these are typically continuation patterns. Even though smaller time frames are showing some signs of reversal, the overall momentum is still bearish.' When markets are in clear bullish trends, it is much easier to decide when to buy, but when the environment becomes...
ETHUSD Update: The 320 break signals the return of bearish momentum and confirms the lower high formation as I described in my previous report. ETHBTC also offered a heads up with it's resistance failure that I mentioned as well. The question now is can this market find support at the projected levels and form a broader higher low? Compared to my average number...
ETHUSD update: There is a minor higher low at 320 but the current price failure renders it insignificant because the high of this bullish swing has peaked just under the 346 to 367 resistance zone. Plus the ETHBTC price action has failed below its corresponding resistance. I interpret these signs to mean near term bearish momentum is more likely. First let me say...
ETHUSD Update: 320 resistance is taken out which indicates stability returning to this market for the moment. My plan now is to wait for the next higher low, and I would like to see it somewhere near the 309 support area. That is the first level that I will look for reversal patterns for a possible long entry. The 320 level was the .382 of the recent bearish...
Look for pullback to broken weekly trend line/ fibonacci zone before going short, lower high being formed first before a new lower low will take place.. Nice setup here lets watch how price action plays out !
After weeks of consolidation price finally broke out to the upside only to form a double top at previous support turned resistance. The second high of the double top is a LH signaling a trend change back to the bearish side. The monthly chart looks to be way overextended to the downside and a pullback is overdue. Will be looking for possible bullish HL to develop...
Third rejection of Daily trendline forming LH and continuing on with the bearish trend. Price closed below daily 49EMA.
Daily chart broke out forming Higher high and started to signal bullish trend change. However, Daily chart failed to continue higher and after intraday LL developed a new LH on the daily chart pushed price further down closing below the daily 49EMA.
Daily break and retest of the 1.415 zone forming daily Head and Shoulder pattern. Daily closed as Lower High with daily tweezer tops rejecting key resistive zone.
Daily Bearish engulfing forming intraday LH after yesterday formed a LL confirming bearish trend change. Trade was entered via APL strategy.
In this idea I show you how I trade swing failure patterns. This is good for any time frames but lower time frames are preferred. Very simple idea yet works pretty nicely. Let me know what you think.
Similar to SPX, the DAX is on a verge of breaking the daily TL for more downside. This bullish bat is just a speculation where the potential support may be.