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Let's keep it plain and simple...
Falling Wedge Reversal Pattern
"The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower".
BITCOIN IS GOING TO THE MOON!
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USDCAD is approaching our first resistance at 1.3384 (horizontal pullback resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 1.3011 (horizontal pullback support, 61.8% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (89,5,3) is reacting off ...
XAUUSD is approaching our first support at 1263.91 (horizontal swing low support, 100% Fibonacci extension, 78.6% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1285.85 (horizontal pullback resistance, 100% Fibonacci extension, 23.6%, 50% Fibonacci retracement).
Stochastic (55,5,3) is also ...
AUDUSD has reversed from its resistance at 0.7446 (38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap resistance) where price could drop to its support at 0.7347 (horizontal swing low support).
Stochastic (89, 5, 3) has reversed off its resistance at 98% where a corresponding drop could occur.
USDJPY is testing its support at 109.15 (50% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap support) where price could bounce up to its resistance at 110.18 (50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 4.8% where a corresponding bounce could occur.
USDCHF is testing its support at 0.9872 (61.8% & 76.4% Fibonacci retracement, horizontal overlap support) where a bounce could potentially occur, causing price to rise to its resistance at 0.9939 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is testing its support at 4.3% where a corresponding ...
I think this is it... needed the last touch on that main support level to bring some logic to last weeks of market indecision.
:( looks like the texts are overlapping, that sucks ... Here's the snapshot of the chart when published (there the text are all visible).
https://www.tradingview.com/x/JkMCQVpp/
USDCAD is approaching our first resistance at 1.3384 (horizontal pullback resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 1.3011 (horizontal pullback support, 61.8% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (89,5,3) is reacting off ...
I work hard on this pair
In my mind there are 2 possibilities :
-Broke of the lower low and go meltdown
-Validation of the second shoulder
It's hard to tell now , so let's wait for more confirmation please :
MSG ME FOR UPDATE ..
Sell below 6223.
Stop loss at 6458.
Take profit at 5755.
Reason for the trading strategy (technically):
BTCUSD is testing its resistance at 6223 (61.8% Fibonacci extension, 23.6% & 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect price to reverse down to its support at 5755 (100% Fibonacci extension, horizontal swing low support). ...
It have temporarily updated the latest low of 0.74126 this week.
Recently, the resistance line works smoothly and it goes down one step, so if you go as it is, it will be the trend price since 2015.
Weekly chart
https://www.tradingview.com/x/n6Wq3m7K/
There are four lines that become the barrier. (There are many)
1) MPP (S2) 0.73356
2) YPP (S1) 0.72900
3) MPP ...
Price is approaching our first resistance at 0.6958 (horizontal overlap resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 0.6826 (horizontal swing low support, 61.8% Fibonacci extension). A breakout below our intermediate support at 0.6886 (horizontal ...
EURUSD is approaching our first resistance at 1.1834 (horizontal overlap resistance, 38.2% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 1.1504 (horizontal swing low support, 100% Fibonacci extension, Elliot wave structure).
Stochastic (55,5,3) is also approaching ...
