Since 2nd of July, when EmerCoin has reached strong psychological resistance at 50k satoshis high, price has been correcting down. It has reached 78.6% Fibonacci retracement level at 40k satoshis, but up until now failed to close below.
The current spike down, shows that price has bounced off the 88.6% Fibs as well as 200 Moving Average. Therefore, as the price ...
H4 - Price broke below the bottom of the range. Currently it looks like a correction is happening.
We may look for this correction to happen in the form of either one wave up with hidden bearish divergence to form or in the form of two waves up.
Once this correction completes itself, we may start looking for sells.
3rd consecutive 61.8 retracement.
Going long and hard in this one.
Not going to be greedy, so im looking to take profit around the 23.6 area.
Waiting for a break to confirm, and or a nsl (new structure low) on the 4hr chart
As seen from chart, price of EURNZD currency pair is testing resistance level.
If test fails, good sell setup and price is predicted to move to nearest daily support level.
Do let me know what you think.
Amongst other confluencing factors, we have a rising wedge and a part-formed H&S pattern.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Euro's rally against the Yen has now over extended. The Euro has been sold off against the Dollar, Kiwi, Pound, and the Aussie. With today's selloff, we also have the bearish Stochastic crossover (10,6,6) further strengthening the case for a short position. Any rallies will be selling opportunities from here.