looks like we're hitting a solid roof here. Confluence from an old Static Resistance + Support as well as that major trendline. Got a descending triangle forming as well. I believe is demands more waves. lets see?
first wave done, price seems to be finding it's grounding now. good R:R
Setup looks clean for the completion of a Wolfe Wave, Will short on completion of wave 5. Expecting a rollback to the level of 1492.5
It's not looking good, however.. on the plus side, discounted BTC should this play out.
Couldn't take out the Major resistance above. Will be shorting on the confirmed break of current support. Noted Divergence on ADX.
Hitting a stone wall up the top, looks likely the pair will fall to a level below, before any more push to the upside. looking to short at the break of current support
1. ADX Bullish 4H 2. Price action ranging a Bullish Pennant 3. Trading on dreams
nice set up on the daily. I have hope, and faith. waiting on the final trigger for a long to take us back up again. we're still trading within the falling wedge , still a long way from any ATH . averaging my entry's from here till sub 7k. good luck
Just a thought, running regression through the current trend, we see the Line of fit acts as a form of resistance. what I've noticed we lack, for the sake of a different perspective, is velocity. Our variables: X1 = Successful break at 76 degrees. X2 = Successful break at 74 degree. A1 = Failed Break at 79 degrees A2 = Failed Break at 68 degrees As you...
Full disclosure i'm a newbie chartist and trader., and i'd love input and ideas; Now to my set up.. i'm a big fan of Linear regression, and as such this chart is plagued with it. I've overlayed multiple LRS (linear regression slopes) over my Stochastic chart, in order to see the trending direction of the price action (through best fit). Using it as a dynamic...
LRS looking very supportive, we've got nice price action adding just below the resistance. Stochastics is winding up for a breakthrough. R:R = 1:1 if Buy Stop triggered. I'd be looking for a Buy as marked on any pull back should we fail the breakout. more pips pls.
hit a wall at the top, has had a nice run up, must be time for some profit taking, that should see us down a bit. Target plotted. some divergence on the Sto. waiting on more confirmation. IG Trader sentiment notes that traders are now Net Short on GBPJPY, first time since May 05, 2019. when we traded at 145.89 (dailyfx.com) IG Sentiment: www.dailyfx.com
i'm sure this probably seems far fetched, but I recognise some similarities between now and a few months ago. the main trigger for me in this assessment is the SLR (Linear Regression Slope),. which has not been in this current position since Jan/Feb on the 4H. the difference between the two time frame in question is an agreement between the Alligator and the...
descending scallop, STO and MFI down, highly correlated with BTC, which is moving downside.
Triggered on triple EMA's (9,13, 21). short pips. Winning pips? Fingers Crossed.