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After the Trading View mods decided to give me a nice long 1 month break (because they know they love me too much), I am back.
I am noticing a significant bearish divergence, with the addition of a bearish megaphone pattern. This pattern, I have been adjusting due to the wicks day by day due to the wicks and height of the upswings, but it is still very...
With strong economic data, and Italy now having entered a technical recession, I can see the DOLLAR ready to make a big move to the upside.
The target is 96.5.
Another reason for DXY to meet this target is due to a gap that hasn't been filled yet. The MACD has suggested that the last sell off has been exhausted, and the bullish impulse is ready to take...
BTC seems to be approaching the critical zone of the 3.2-3.4k region. I have been very accurately calling these lower highs after lower highs through out this bearish period, and I believe a break of this structure will result in massive selling, which will probably not stop at 2.8k if this level is breached.
I am still holding shorts from the 3700 level, but...
After I have been calling for a big downturn since the 4200 level (actually, since 8k, when perma-fools were saying 10k was imminent and the bottom has been seen), and called the recent hell candle from 4100 with laser precision, I have been getting a lot of hate because of perma-fools getting excited over 100$ liquidity spikes after a 200$ down move.
Noticing a bear flag being formed. After a harsh rejection off key levels, I am expecting a continuation downwards. Nothing in this chart has told me that the mid-term trend is ready to reverse.
Still eyeing a potential reaction at the 3.1 - 3.2k level.
Previous upswing failed to breakout, and the 0.618 level was breached, meaning that a much more bearish move is to come. I am targeting around 3200 to even 3100 for the next downturn.
Short level: 3700-3750
Target Profit: 3200
Stop Loss: 3850
We notice here a rejection off the 4200 level on Bitfinex, a rejection of the previous high (no higher high) and also a rejection of the bull flag pattern.
I can see a double top forming and momentum dropping strongly to the bear side and a revisit to the mid 3k level.
Short positions are down significantly compared to long position, so there is more incentive...
Noticing a new pattern being formed in the shape of an ascending triangle. I have went long on the 0.5 fib bounce.
We also notice a compression on the MACD.
My stop loss is now 3800.
A re-test of 4.3k is at a probability of 56%
If the 0.618 fib holds (3600 level), I'm expecting a completion of the right shoulder of this big inverse H&S being formed on most high time frames.
Technically, it is a buy above a clean break of 4400 (stronk resistance), but a buy with a stop right below the 0.707 is a decent r/r play
Target profit: 5600