I note BCH has transitioned form an ascending channel to a sideways consolidation channel which is often a continuation pattern. Back testing shows that it may move sideways longer than my pink trend lines suggest. BCH has been a great coin to trade (not hold) recently so I look forward to watching this one with anticipation of its next move. Trade safe team.
Thanks to @Philakone for directing us (link below to his tweet) today to this ascending channel that ETHUSD has been moving in for the last few days. On top of his comments, it looks to me that we may have been rejected off that blue resistance line at around 217. It will be remained to be seen if we stay within the channel or break out in the next few days. As...
With the bullish action the last few days, I wanted to check the overall market structure to see if any major breaks had occurred. We are still ranging within this descending triangle since mid-January 2018.
By my calculations it could be another 39 days - 59 days until we break out of this long term descending triangle. You can see that the range is tightening,...
After a fantastic bear break of an old support zone we have now formed a symmetrical triangle. Trade entry will be either a bear or bull break from the triangle once a full candle has closed outside the triangle. Set your alerts guys, we could have another great trade in the next 24 hours on this one.
I am still bearish on XBTUSD as it is still forming lower lows and lower highs. Unless the price surpasses the pink line I will remain bearish. The yellow lines are all S/R lines. As you can see there are many others that I haven't included. It is very difficult to draw trend lines at the moment as the wicks are so crazy. If I was going to make a call on the...
Another week another trade zone around 6666. On the macro view, I note that there has been a total change in market structure on/around 30th July, even before the EFT delay news.
Trade safe - Use Stop Losses always. Keep leverage low until you are in profit. Always leave an available balance in your account so you can deleverage if it turns against you. Don't...
I see a rising wedge and that area around 6666 is providing resistance again. This has been a previous support zone that turned resistance recently. There have been four candles reject and one is sit to close at the time of publishing. RSI is over bought too.
