If Bitcoin broke down the uptrend line and a median of a downtrend channel, it will probably go down under 7k fast.
For now, we have a falling wedge and decreasing volumes inside it, which can indicate that sellers are exhausing.
I'm holding longs from ~8280 with tight stop, until wedge isn't broke. In a good case if BTC doesn't fall down, wedge...
TVC:SPX and AMEX:SPY are still forming triangle, and when it breaks we can expect that move in the direction of the breakout would be rather strong.
Nevertheless, for low risk entry (though also with much more uncertainty), trade may be attempted right now with stop just above previous high @294 and target as far ~275 area.
Again with such tight stop the...
Looking for price to bounce off the double bottom and re -test the downtrend
This is more of a scalp I'm only risking 1% on this with a very tight SL
R:R Just under 6.4
This is not a signal just a suggestion.
Waited for price to break entry line and 2 pip pullback after all rules met = Divergence, Bollinger Bands, and below 30 on RSI. Nice easy 14 pips total I closed half at the 15% target. Much easier to look at on 1M chart after all rules are met will post that in the comments since it will not let me publish as an idea waiting for the wave 2 bounce with divergence...
A bit earlier, the EIA crude oil stocks report was released to the public, capping this week’s inventories cycle. The number came in on the low side, bringing short-term bulls to the table in force. However, immediate buying gave way to bearish action amid robust participation.
For the rest of the week, I will be looking at scalps to the long from above the 62%...
The recent slide in WTI pricing has not been kind to the Canadian dollar. However, last week’s hawkish move from the BoC has helped the Loonie hold its own against the USD.
Today's bullish pressure may bring a short from just beneath topside resistance near the 1.3200 handle into play. Here is the plan:
1)Entry: Sell 1.3196
2)Profit Target: 8-12 pips
Price failed to break the 0.23 fib (1241.357) level which is was also a previous resistance level now turned support. Slow stochastics are now indicating that Gold is moving out of an oversold position. Got a tight stop in case we drop to the 0.50 Fib (1220.185) leading into non farm payrolls this Friday.
Long Wolfe Wave to Short Wolfe Wave trade on the 5m chart. The intermediate wave (i) bottom provides an extremely tight stop if price reaches the long target. Place sell limit at 1.509 with a stop at 1.510 and a TP at 1.5014 for a quick 80 pip low risk trade.