After a long consolidation (triple bottom), it looks like the copper price finally broke the longer term downtrend and currently undertakes a bullish rally. The idea, is to trade the rising wedge with a potential break of it in the upcoming hours. I am personally bullish on this as the underlying trend is up alongside with strong fundamentals for the metals...
The idea is to trade the potential break-out of the neckline of the pattern targeting 5.2 levels with Stop just above last shoulder. If there will be another move higher and close above the 2nd shoulder than the pattern and the trade set-up would not be valid anymore.
XRP rose over a 100% in the past days, unless the crypto market will finally rebound its long term downtrend the pair is expected to retrace at least to 61.8% Fib level and potentially to 50%. I will be looking to renter my long positions at those levels.
Fundamentally, it looks like the overall market sentiment shifted and the risk-on scenario is back with the US indices set to retest the all time highs. Technically the asset is in a strong uptrend as well despite the overbought RSI readings on the higher time frames. The trade idea is to trade the bullish flag pattern on the break out. For additional...
Due to strong fundamentals, alongside with the overall Crypto market recovery, XRP demonstrated a 30% rally on Tuesday. It looks like a triangle has been formed and a break of it could happen anytime in the next 4 - 5 hours. The higher risk is the break on the upside, but there is a probability that it can break down as well (if BTC fails to keep momentum and will...
The pair broke the medium term uptrend and formed a H&S pattern. For those who missed the initial entry on the break of the neckline, can enter the position now with half risk. Stop Loss above the last shoulder and the TP level based on the Minimum Price Objective. Furthermore, the TP level coincides with the 61.8& Fib Retracement (not present on the chart).
Despite the fact that the pattern is not ideal, based on the recent price action of EUR and the weakness in the USD because of the potential trade war tensions escalation there is a probability that the EUR/USD pair will finally reverse its long term negative trend. The trade idea is to wait for the 1D candle close above the neckline. Targeting 1.215 - 1.22 level...
After the ETH price initiated a corrective rally of 35% after falling to its lowest level since 2017, it looks like a rising wedge is being formed with a possible break either up or down. To be valid the following should occur in the next 12 -15 hours, together with the fact that Sunday is statistically one of the most volatile days for cryptocurrencies, there is...
The pair is currently undertaking the process of forming a descending triangle. For the longer term traders the idea is to wait for the break of the triangle (can be both ways, but a higher probability on the downside as the longer term RSI readings are extremely overbought). For day traders there is a good opportunity to go short on the break of the short-term...