Short idea. 2 Resistance lines approach. Looks like it's forming a head and shoulders. Yet to confirm. RSI looking like it's going to make Lowe Highs (LH). Waiting on 2 speeches that could confirm or defer this idea. If candle closes below previous low and RSI hits the red line. Short idea confirmed. Risk reward ratio 3/1.
Price making lower lows & lower highs on the lower time frames, expecting a lower low to now form as price is at its downtrend line currently & under resistance :)
-RSI DIVERGENCE -BULLISH TRENDLINE BREAK -ENTRY AT THE BREAK OF THE MOST RECENT SUPPORT WITH STOP AT THE NEW LOWER HIGH - POSSIBLE C WAVE CORRECTION
Overall still in a downtrend, had to refer all the way back to the monthly chart. Price broke out of channel just to retest broken monthly level (1.36500) then quickly went back down. False breakout of channel, now price came back within & is still headed back down. We should see some downside momentum ahead of us, & a weekly pin bar is also rejecting strong...
Indecision Candle Forming as the month comes to an end, see previous linked chart
BCHUSD Update: Lower highs and lower lows signal further weakness. This market has no bullish structure in place at the moment and no support levels to speak of. In a situation like this I would look at purely psychological levels like 250 or 200 for any potential signs of reversal. I have not been reading up on the forums about what is going on fundamentally...
Lower highs and lower lows have formed. Trade the fib cycle to the D leg.
Elliot wave, ABCD Lower highs and lows
AUD/USD Lower Highs Lower Lows No New Structure High Fib Retrace 61.80% Potential Trend direction change Fib Ext 161.80% sell @ .75550 Stop @ .7610 Target @ .67800 Comments appreciated - Not a clue what I'm doing! Thanks
Rising Wedge with LL and LH waiting for a breakup.
Gold has double topped at the last lower high and while I am skeptical of a sell right now given the USD index is falling there should be caution when taking a long position. We need a higher close above the lower high to safely buy into Gold which may come later in today's session, otherwise if the USD index re-bounds (see linked trade analysis) we could short...
Crude is attempting another try to make a new high. But strong resistance is waiting... long term is seems more like another failed new high and a shoot down to the 50% Fib retracement, atleast. But we will need to wait...
There is a lot going on in this chart that lead me to reason that the price is going to move down. We will start off by saying the 4h chart had been bearish for a little while before making a double top on July 11th. We then see the price make a lower low followed by a lower high. We can also see RSI divergence here and back at the double top. We can also note...
Will be watching $NUGT tomorrow, approaching previous resistance & whole dollar resistance, so I will watch for it to spike into that $170 area then fail for the short. I'll be keeping my stop loosely above the 170's to give the trade some room to workout, but has upside to watch out for if it breaks above that resistance.