COINBASE:BTCUSD have been trading in a Gann Fan pattern.
This could be constructed starting from the TrendLines highlighted in previous posts.
After a Bearish trend it partially reversed it by breaking above the 1/2 angle and then the price rejected the resistance at the 1/3...
COINBASE:BTCUSD had a good drop in the last 3 days.
It now reached an area that can form a horizontal support; this would be the third touch so in case it holds we are going to see further move upwards.
As a soft resistance, we can also look at the diagonal trendline in figure - even if on the 10 December there was not a real touch.
Given the high volatility of...
COPPER HG HG1 HG1! respected the Trendlines highlighted in the previous posts; on the 4-hour chart it followed the Simple Moving Average ribbon as well.
A triangle formation is being reached now.
Could be a Continuation Pattern upwards.
COPPER HG HG1
Like last week, just more confusing
Gann fan forming maybe?
Price might Fakeout and bounce again.
#Patience and wait for a sign.
If I had to bet now I would say Long but - again - let's wait for a clearer view.
Copper has been trading in a channel lately, and in a couple of trades we profited by the bounce on the descending trendline (magenta in the chart).
Indicators look still quite bearish while the triangle pattern might suggest a continuation pattern high as I think it will go this direction but let's wait for confirmation.
Be ready for action!
AUDNZD might be ready for a reversal on a zone of resistance.
AUD has been bullish for quite long now and the indicators start to show divergence.
The reversal zone has been serving as Support or Resistance in July 2014, May 2015, end of January 2016.
We might want to wait for an optimal entry point and then let the market decide how this will go - possibly with...
GBP on a neckline of a Head and Shoulders formation on the 2-hour chart, just as some volatility is expected for some news coming out that might shake the market.
Indicators seem to show divergence but CAUTION is mandatory now.
If it breaks low keep in mind the soft resistance at 1.2338
Coffee is already almost hitting the trendline formed on the Daily chart.
It broke the 4-hourly trendline some days ago so a bit of extra caution is needed; however, the Risk-Reward-Ratio looks quite promising.
Watch for the opening of the next 4H chart!
XAGUSD has been consistently growing on the Weekly timeframe:
We closed last week with an indecision bar; however, the fundamentals should point higher and the Daily timeframe is still on an upward trend, so this might be a physiological retracement.
Let's see where the 4-hour chart...
EURCAD has been moving in a wide channel since 2013 and its bottom channel (Turquoise line) has almost been reached now.
Definitely a pair to watch for either a Bounce or a Breakout.
If the bounce for trend continuation is confirmed, this should give us a niiiice movement potentially up to the upper channel.
The pair moves quite slowly so this is probably a...
USDCHF has been moving around parity but its dancing days might (hopefully) be almost over.
In the last days the pair bounced between two important moving averages: the 100 SMA and the 200 SMA (in the chart, the Turquoise and Black ones are actually EMAs though).
And all around the roundest round number 1.00000.
The SMA(100) and the SMA(200) are getting closer...
Platinum seems to have revered a skewed Head And Shoulder pattern in December and its upward Trend is now converging towards the first notable resistance.
We are still well within last year's High and Low so more action can be expected.
The key point for me at the moment is waiting to see how the price reacts to the level...
AUDJPY has been consolidating in a Box for 10 weeks now and started to form a Wedge inside that box in the last 5 weeks.
The pair will thus probably give a good breakout soon in one of the two directions with different level of Targets.
Patience required to plan the setup.