Strong resistant will reject the price normally when buyer is not strong. In this trade i am inclined for only tp1 ~ 35p. OTOH, if seller coming with buyers absence could push price to tp2. cheers
As you can see on my Bitcoin/USD Coinbase chart, the price of bitcoin is still below the 12 and 26 exponential moving average lines, which are represented in red and dark blue. In my opinion, the last candle stick which is red, "could" indicate that the price is temporarily headed back down.
The yellow upwards trend line that i drew on the chart is acting as...
In my earlier post I said that due to the rangebound nature of BTC right now I have to be prepared to hedge my short position. I have just got my confirmation for a long entry.
Disgustingly low volatility since the month opened. Eventually it broke out of the consolidation to the downside, this trade is based on the idea that we are going to get trend continuation.
On daily bullish engulfing pattern is formed at daily support level, so we have to wait for retracement to the level and must buy after bullish candlestick confirmation. But this is market and anything can happen so follow the price action and take entry near the zone based on bullish or bearish evidence.
This commodity is undecided on whether is in an overall uptrend or downtrend. However the sentiment just now appears to be bullish as the last 4hr candle (@10am) has shown retracement. I've entered a long trade with initial TakeProfit @ 55.86 then at 58.17 if the untend continues
Heya all,
If you have not done so it is a great time to exit your USDETH shorts until further notice. It looks like the worst of the storm is over, and there is obvious buying pressure in play but I will not be too quick to jump on that train just yet.
Overall, my sentiment is that ETH will bounce to 220 level and perhaps beyond too, so my position currently...
After USDCAD beat the congestion/resistance zone, it also beat a Daily bear trend line.
Now on 4H timeframe we got a Bullish Bias and we can place a new bull trend line.
The congestion formed before breaking the Bear trend line and resistance could be seen as a retest, but i missed the entry bar. So now i expect a retest on the following zones:
- On the EMA and...
SPWR had a huge bull breakout of a failed wedge bear flag. When a wedge fails there is often a measured move based on the height of the wedge. Prices are also testing above the top of the bear breakout and sell climax of August 2016. However prices are still within a large trading range (always look left!). This increases the likelihood of heavy two sided...
BYND broke out to a new all time high last week and tested above the 200 level where there was profit taking. Last week became a buy climax and prices are currently testing below the bottom of the climax. When a climax forms, prices often correct in two legs sideways to down (or up with a sell climax). However, there is still an open bull gap around 163. If...
1. Head and Shoulders pattern forming on daily chart
2. Price rejecting common point on 4hr chart
3. Moving average crossover on 4hr chart
4. Inside bar formed on daily chart
5. Price retesting previous support on hourly chart
Enough confirmation for a SELL trade
SAFE TRADE:
SELL @ 1.61190
SL @ 1.62000
TP @ 1.61200
PATIENT TRADE
SELL @ 1.61190
SL @...
Hello all - DuncanForex here with another trade idea
Although against the prevailing trend, NZDUSD has broken out from it's down trend.
It is currently at support where previously a head and shoulder pattern was created.
Based on this price action, I expect it to head higher to previous resistance.
I will be watching it closely and trailing my stops, however...
