Weekend Expenditures Drive BTCUSD prices lower but for how long ?
Crypto Currency is becoming more some during this era.price movement is king . I see a long in the future of this crypto cross. looking at support and resistance I added ghost retracements for possible early entry .
Long on ema and macd. Sell on the first red renko brick. Short on ema and macd. Buy on the first green renko brick.
If red bar below green renko bar then I am expecting DAX to trade towards 10938. This scenario is only valid if we form a red bar below the green one now.
EURJPY short bias 1. Price beneath the Ichimoku cloud. 2. Red brick close beneath the 8/14 MAV. 3. More than 2 red bricks in succession. 4. ADX crossing. Entry @ 114.30-114.50 Stop @ 115.20 ( above cloud) Target @ 112.40 ( recent swing low , at demand zone) . 2.6 R
Gold has reversed at 1337.28 and now has formed 3 red bricks, which have passed beneath the 8 EMA. A short position could be considered from here , in line with the longer term logic. Stop loss would be above the 8 EMA.
AUDJPY with potential triangle. 2 Entry Points 1. At E - with stop loss above C. ( More risk as the breakout could occur to upside , as shown in prior post for this pair) 2. Retest of trendline following downside breakout. Stop Loss above E. ( Maybe a better entry point) Target 1 @ .7590 ( equal legs projection of CD ) . Target 2 @ 74.80 ( important...
USDCAD with potential bearish cypher. PRZ between 1.3383 and 1.3472. Confirmation of short with at least 1 red renko brick. Short @ 1.3395. Stop Loss @ 1.3475. Target @ 132.11 ( X) . 2.3 R.
My present bias is for a long position in the SPX 1. Price is above the Kumo , favouring a long trade. 2. More than 2 long renko bricks have formed since recent correction. 3. Renko brick has broken above the Tanken-Sen. 4. RSI above 50 ( but not oversold) Barrier = Nearby resistance at 2173.5 Suggested trade Entry @ 2164. Stop Loss @ 2130 ( beneath...
USDJPY Medium term logic for this pair is a Crab Pattern. Hurdles to overcome ( if price stays above A ) 1. Trendline resistance and Kumo @ 102.00 - 102.50 2. Recent Swing High (B) @ 103.75 3. Pattern Swing High (X) @ 106.75
Wait for NZDUSD price to fall beneath Cloud , then Short . Ideally min 2 red bricks and close beneath the 8 EMA. 1. Stop Loss on opposite side of cloud. 2. Target is trendline support @ 68.50. 2+ R.
Potential for Renko Bat pattern reversal for a short position. Criteria 1. Price to be contained by recent resistance level of 1.57 35. 2. 2 Short (Red brick) bars to have formed. 3. Confirmation short brick close is ideally below the 8 EMA. Entry between 1.56 50 and 1.57 00 (PRZ). Stop Loss 1.57 40 ( above X) Target 1 @ 1.54 30. ( 50 fib CD) . 2.4...
Possible long term scenario with British Pound breaking the expanding wedge consolidation to the short side , and moving towards 1.20.
A short position may be considered with the following criteria 1. Price retraces to 61.8 fib of the CD leg (butterfly pattern ) , which is at the Kumo resistance. 2. Price stays beneath the Kumo cloud, favouring a short trade. 3. There are a minimum of 2 short bricks formed. 4. Ideally price is beneath the Tanken Sen Set stop loss above the Kumo...
The Ichimoku Cloud is a filter for the direction we should trade. Short positions are taken beneath the cloud and long positions above the cloud. A long trade is proposed when the following criteria exist 1. Price breaks out from the triangle to the upside and above the cloud. 2. There is a retest of the trendline and or cloud. 3. Price should close above...
Trade Gold if : 1. The upper trendline holds beneath 1345. 2. Breakout to downside. 3. Retest of lower trendline for resistance. 4. Renko confirmation of 2 reversal bricks. Then 1. Short with target aiming for prior swing low. 2. Stop loss above initial reversal brick.
GBPAUD approaching completion of Renko Cypher @ 1.6978. Potential for a right shoulder formation by .882 retracement. Buy signal confirmation = 2 brick reversal. Long Entry 1.6880 Stop Loss 1.6780 ( beneath X) Target 1 @ 172.40 ( 50 Fib XC) . 3.6 RR Target 2 @ 1.7680 (C). 8 R
Renko AB=CD potential pattern. Directional filters favour the downside. Bricks contained by the 9MAV. Entry @ 76.40 ( waiting for confirmation Renko short with second short brick) . SL @ 77.25 ( above the retrace brick) Target 1 @ 75.05. 2.5 RR ( equal legs projection @ D ) Target 2 @ 73.75. 4 RR ( 127 fib ext )