As predicted and in response to R.Linda's post. Likely stop would be around 55k - 52k level. Wont be surprised if it drops to 48k area. But I should expect a bounce around that trend line short term.
Let's see what happens further on this level (lower trendline). Touched trendline and bounced off. Could mean a reversal in the looks with that doji candle.
Turn around for the EURUSD?? Broke above upper trend line +Diamond formation.
RIP YEN. "Could intervention be close"? 2% - 4% is still massive though.
With Price objective for Ascending channel achieved (previous post), in an uptrend and pair not far from major resistance, suddenly a potential H & S pattern is up with price objective (deep retracement to the upper channel trend line). In addition somewhat like a double bottom continuation too. Well could be a tricky one so I have 2 scenarios lined up. Price and...
Previous Post on EURUSD ZOOMED OUT. Intraday possible scenarios. Trend remains bearish in the short term.
"RISING WEDGE' GBPJPY vs 'FALLING WEDGE' YEN INDEX. Watching closely.
Price likely to consolidate (bounce off the .764 &.618 fib levels respectively) in the short term/intraday sessions. Bearish flag pattern in play. Bias still remains bearish.
I want to see a break and close below the recent support to confirm price is set for a downturn considering the bearish chart pattern with potential targets. Watching closely.
The pound tanking, I see a potential short - mid term gains for the EURGBP upto 0.8630/0.8640 - 0.8650. I expect to see some sort of retracement before sailing to targets 0.8630-40 in the short term. So on the look out for pullbacks during intra-day sessions.
Pair looks likely to continue downtrend considering the bearish chart pattern with potential targets at next support levels. Price pierced through the .618fib and maybe little retracement back to the .618fib resistance(confluence) before continuing its downtrend.
LIGHT AT THE END OF THE TUNNEL FOR THE YEN? With lots of news on intervention, could this be a turning point for the yen in the coming week, month? Some bet on the yen strengthening next week for me.
In the short term going into next week I expect to see the pair slide further down. Break & close below the trend line (lower channel line) would likely spike interest to short this pair after refusing to make new highs. Candlestick patterns confirms further rejection for a push to the upside.
Price has been respecting the fib levels so I take on the fib .618 to be the next likely support/target.
Trendline + S/R confluence. Price likely to consolidate around levels before resuming uptrend. I would take a long bet in the coming week or 2.
Look forward to the nearest target being the 1.3828 (Price Objective for channel) in the short term. Then maybe a retracement before continuing trend and aiming for next resistance.
Follow through on my last post. Potential Bump and Run pattern on Bitcoin (in the short term) and Price has failed to break above new high. So now consolidating within a range. 2 possible scenarios here. Bounce off support within range and back to 72k-73k level or break below support to meet target objective (53-55k) for Bump and Run pattern.
Updated chart showing all BTC retracements since 2012 till date. So still hovering above the RESISTANCE of 65k.