BTCUSD in a falling wedge channel pattern. Will it make one more attempt to burst up to $10K? or fall out of the channel and keep falling... a lot depends on stock markets also. Were on the verge of bad Q2 results, Virus issues arising again... what will happen next? we wait and see what happens, Limbo continues...
Given that: For the time being, Bitcoin (BTC) is well correlated with traditional markets. What this chart shows me: Bitcornz on the Weekly TF. 3 major drops since ATH. All the bullish rallies and comebacks to date have yet to really break free of the downtrend, however it's above it longer now the previous times. it's like watching an asset dance on a knife...
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Trade taken this morning: Reason For Entry- Market Pullback followed by Engulfing Candle, also rejection of closing above the 50EMA. 45 PIP SL (1.70664) TP1- 45PIPS (1.69773) TP2- 90PIPS (1.69327 TP3-135PIPS (1.68881) 135 PIPS Banked
Clear charts are everything. Had a very nice entry here off the 15 min chart. Looking to see further downside momentum play out for the next few days break Monday's low.
Without carefully crafted historically backtested strategies, the kinds of trades available on short-time frames within the current market structure are high risk. Check this one out. 3 'white soldiers' candle formation on the 4 hour chart. Looks good. MACD pushing up. But look at the overhead resistance level. It's just 1.6% above current price. Would you risk...
Next we have USDJPY! This pair is inside of an area that I see as a major Daily Support Zone. This green area is an area that has been tested multiple times by price on the Daily chart and is an area that I will be looking for possible long trades out of. Daily Support Zone- (106.530-106.860)
This is trading strategies trendline... Trendline gives us better idea to go with the trade as per trendline...now market has tested its high of 10300 as per trendline and now after touching high as detracted so till the time its not positively go beyond 10200 above level no point in holding long position. If we analyse DII and FII data, FII pumped 14000 cr in...
The figure shows how long the previous market crashes have taken in time and how the crashes have always had significant upwards retracements in it. The overall trend of 2020 is now confirmed to bearish and there is a lot to come in the near future. Stay tuned!
S&P 500 seems to be repeating a similar pattern with the big drop in February and March. Take a look at my previous posts to see my cases for a second big drop.
FRED:GDPDEF GDP Deflator = Nominal / Real Therefore, Real = Nominal / GDP Deflator We are hitting huge resistance on the real S&P 500 chart. Place your shorts. Seems almost like it is retesting... *gasp*
Op-ed: The charts show global stocks could retest their March lows later this year www.cnbc.com Key points: From a technical analysis perspective , global stock indexes in March wiped out critical long-term support factors pertaining to the entire multiyear rallies since the conclusion of the global financial crisis bear markets, that have driven many...
Hi @FollowMyForex traders, Earlier this week I was reading about how managers at some hedge funds were removing their money from the markets because they just didn't know how to read the markets right now. It said, "even the big boys are getting slaughtered". Currently, we are experiencing a confused market if there ever was one. Just take a look at the current...
Big Bos : "God damn it. People hungry. I will have a big event after this. You are my supporter or not?" Subordinates: "But Boss, colleagues and our friends still afraid about...." Big Boss: "Quite all of you. I tell you. Now get going to them. Tell them, I want market rising. Bearish its over. Don't you think i am stupid. All of you already full enough buying...
WAY MORE LIQUIDITY IS AT THE BOTTOM, The Market could possible make a huge move towards the downtrend! Watch for perfect time to sell!
With this weekly close below the EMA9, the CADJPY continues to test a firm resistance and retreat. The $CADJPY is looking like a Short against Weekly Close of 78.00 for a test of the low at 73.00. The current price is at 76.68, which would provide a good risk to reward for this pair. Only weekly close above the weekly high of 78.00 would negate this pair's bearish...
The USD/CAD has held support at 1.3900 over the last few weeks. This on a weekly and monthly charge would show that a triangular pattern formation is being formed, if the support holds. This along with fundamentals of supporting the dollar rise, Would support a long here. Therefore I am looking to buy the usd/cad on a weekly basis for a test of recent high of...