The big opening gap on April 27th indicates that it was a 3rd wave, and now the aftermath looks like a flat correction. Half of my short position is still open, the other half ready for a re-entry.
Tested head-and-shoulder didn't allow a break down, after which the double bottom drove the market higher, conforming the daily TL (green dashed line). Now we are both in the shoulder level of the mini H&S at the all-time high, and also at the target level of the double bottom. If the market breaks above this level, it will signal further buying; on the other...
One may wish to wait until the day ends.
This pair has already been in my portfolio when it first broke the H&S neck line, now seems to be a good add-on time.
$450 level has been the central axis of bitcoin's price since 3 years ago, witnessing many battles. Now the latest formation looks like an ascending right-angle triangle, whose resolution should be near. Either way seems tradable once the big money gives its decision.
The triangle has been broken by a seemingly faithful momentum. We hope to have more buying.
Weakness seen in the 1-3 resistance level. More selling expected.
In the most straightforward scenario, this stock should trade in a narrow consolidation range for a few days before continuing downwards to the dotted line support.
I don't trade cryptocurrencies at the moment, just following BTC and ETH to keep up with the market. Now this one seems to have thrown an early opportunity to bears. But one has to keep in mind that this is a very thin market, which may be easily controlled by "insiders," not to mention the absence of regulation. So a conservative speculator would actually just...
Break-away confirmed. The green line is targeted. I am thinking of buying this stock on Monday. But the R:R profile is not very good. So maybe it's best to wait for a lower-TF throw-back.
Today's test has failed to close below the ML. Upside likely.
Sometimes it is really hard to understand how simple the market acts.
The chart shows the range's main Fib levels. A consolidation around the F.618 level is expected to form. We will be looking for a signal within the formation process.
This pair seems even better to short than GBPAUD.