The situation on GBPUSD remains unchanged since yesterday.
Despite the fact that the price movement did not follow the course set by me, the idea does not lose its relevance to the present moment.
The corrective movement after a strong downward impulse pushed away from the Fibo resistance level of 50%.
And it looks like the downward movement is gaining strength.
The best position for a short would be the intersection of the local resistance level (former support) and the local trend line formed by the corrective movement.
Gold broke through the trend line with a strong impulse, after which a correction to the resistance line began.
You can also notice a local trend line, which, according to my expectations, may be broken, and the price will reverse from the resistance level of the global trend line to a strong support zone.
At the moment, Bitcoin is trading in a range between two trend lines from one top and in an upward trading range.
We also see strong support from strong buy bars.
Also, after a strong upward movement, the corrective movement formed a local trend line.
I expect the price to break it bouncing off the strong support level.
The 2 black lines you see on the chart are 2 trend lines from one top.
They played key roles in history, often stopping and unfolding the price.
I think this situation will not be an exception.
After the price reaches a strong support level, which crosses one of the trend lines, it rushes to the 50% Fibo level, which miraculously coincides with the...
After the correctional movement, the price enters the accumulation zone.
The correction has formed a local trend line. It is obvious that it can be broken.
The only question is when will it happen?
I suppose that the breakout will take place after sufficient accumulation, so I am still betting on the formation of an additional zone of interest.
Thank you and...
The situation for gold is as follows: the price broke through the local trend line and returned to retest, after which it gave a new impetus to the downward movement.
The best selling price would be a return to the strong trend line near the selling area.
After that, we can expect the price movement to 1765-1760.
If the strong support level is broken, the...
Bitcoin broke through the range of the price movement and rushed in impulse towards the zone of strong resistance.
It is logical that after such a pressure from the bulls, they need to restore strength for further movement, so we see a correctional movement from the resistance level, which passes into the players' area of interest.
The corrective movement...
Bitcoin is currently in a trading range.
In the general picture, the trend looks downward, but if the strong resistance level at 63.500 is broken and the price consolidates on it, an upward hike is inevitable.
It is not a bad idea right now to buy and sell at highlighted support and resistance levels in the short term.
Thank you and good luck!
At the moment, we see a correction after a strong impulse move. Against the background of the upward movement, a trend line has formed, which, according to my forecasts, will be broken.
Prices met strong resistance at 1795.00. Pin bars were formed, and sellers took the initiative into their own hands. This level also superimposes on the trend line of the older...
So, GPB did not reach the cherished correction from the previous forecast. However, the situation on the market now looks as if the price has a second chance to return to the level retest. Looking at how strong support was formed at the lower border of the price, it is worth paying attention to the numerous pin bars and divergence in the stochastic.
In addition,...
So, look, the price has reached the forecast zone. However, the bullish move was strong and almost no correction. The previous forecast performed well, and at the moment I expect to see price movement in the range of 1.16275 - 1.15860.
You can try selling near the upper boundary and buying near the lower boundary if you are using a counter-trend strategy.
The...
It seems that after such a rapid fall caused by the news background, the euro is going to grow back.
After all, such a drop straight to the strong support level is unlikely to be able to break through. Where are the bears going to get the strength for this, if everything was wasted in an instant?
My opinion is this: the euro will be correcting to the Fibo...
The situation on the h4 chart looks like this:
sellers broke through an important support level on impulse. This, in turn, may indicate a change in trend. The best selling point in this case is at the price return to the resistance level.
Stop loss should be placed behind the impulse bar.
Take profit looks achievable at 38% Fibo level.
For gold, the current situation looks like this:
after the impulse broke through the support line, the price began to correct. If the corrective movement continues and crosses the 61% mark on the Fib grid, it is worth considering the option of selling from the 50% level.
Stop loss should be set beyond the beginning of the impulse.
Set take profit at 1790 or fix...
For short-term and medium-term trading, the situation looks like this:
the price left the trading range, but returned to it, bouncing off the strong local support at the 50% Fib level.Moreover, this return looked pretty convincing.
If the price after the breakout did not move towards the breakout, most likely, the sellers did not have enough strength.
I suggest...
At the moment, the situation for Bitcoin looks like this: the price has broken through the trend line (black) and is currently trading near the upper line of the descending channel.
You can clearly see how the center line of the channel intersects with the support line of the trend line and a strong support zone formed in the past. For me, the best point to buy...
It looks like buyers have decided to buy right now at the market price instead of waiting for the best price.
The 1H chart clearly shows how the price breaks the pennant in an upward movement.
Most interesting, however, is this truly huge bar, which suggests that someone was kicking traders out of long positions ahead of a big rally.
I recommend that you consider...
