Structural breakdown of rising trend line and horizontal levels.. as seen the chart.
Double top validation and it gives lower level target as mention in pink zone. There can be two targets as shown.
Caution : keep watch on US-China trade news.. anything positive for China is negative for this setup
I was told in earlier days of forex learning thats... one day or another... Gaps do get filled !
And there is a major gap in EurUSD in 2017 May @ 1.0800 !!
>>>> Thats unimaginable ! What you guys say ??
Hi guys... i am seeing a textbook bearish flag formation. Price entering from top, consolidating up forming the flag.
It would be good to enter on the top of the flag region with a good SL above 9,000 and tgt of 6,000.
Looks like BTC is turning bullish...
(1) Fib : Price crossed above its lifetime 50% fib level of approx $ 10,000. It consolidated and showing signs of moving up.
(2) Sloping trend line from the peak : Price broke of the trend line, retraced and now again on way up, next target being 13,000. If it fails.... to cross 11,000 convincingly or goes down below...
I expected the price to go higher till about 12k-13k before any futher up/down movement. But now I feel the bounce from 6k does not have enough power. It broke the down sloping trendline, did retracement, but lacks power to followup higher. The rise from 6k is with lower lover volumes. RSI in (4H) also show bearish divergence with the price.
E$ : did a very nice double bottom.... (I missed it), did a bullish neckline break, consolidated back at the neck line - then continued up further. All three major SR regions have been identified.. and Price moved a textbook path. I except consolidation now.. until FOMC minutes and then price to move up. Any movement up above the running 4H candle should be taken...
There is a nice breakout expected in Gold. right now some correction is expected.
Trade idea : Buy gold this week.... during correction.
SL :below 1250
TGT : 1550
RR almost 1:2
Loss probability is very limited.
Be careful of your entry.
BTUSD on 4H showed showed breakdown of double HnS pattern. There is a small consolidation happening after 2nd HnS in form of a bearish rising flag. Histogram also shows negative. At 50 % fib region it broke 1st HnS and did a retracement. As a bearish follow-through if made another HnS. Current consolidation is the 62% fib region.
Trade idea : Sell BTCUSD with SL...
Further to my last post on possible HnS breakdown of $index... its has been a textbook movement. I expect a short pull back now.. but index to further go down to meet rising trend line + horizontal support at 88. These is a fib resistance 89, but I feel 88 is pretty sure.
So thats Sell for USDJPY, and Buy for EURUSD, GBPUSD.
Add position at every...