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After 7 days of straight bullish candles, we are now facing a reversal movement. MACD line is above the Signal line and both are below 0, which it gives us a better chance to go bearish. Same with Stoch RSI, already on an overbought level and ready to fall.
A major pull back from the last candle on the 1W chart. If the price wants to keep rising, it must pass a least 3 resistance levels. As we can see on the 1D chart, the price dropped after touching the first resistance level and looks like an opportunity to go short. Stoch RSI also shows like the price will fall.
Clear entry for a long trade. The price just bounced back from a support level with 3 nice bullish candles. It could face a correction on the 1D chart but it will still go bullish on the 1W chart.
MACD starts to decrease its negative volume and soon it will show some green bars. Stoch RSI is leaving an oversold level after the K line crossed the D line.
It is a fact that the price went pretty low and seemed like it was a disaster. But the price reached and bounced back from a support level that comes all the way back from March 2017, when it was a resistance level.
Of course it will take time for ETH to increase its price and will have to pass many resistance levels like the next one 137 but if it does, it will...
Looks like in the 1D chart the price is going to fall a bit, but in the 1W chart its clearly bullish.
MACD and Stoch RSI are on great position to expect an upward movement on the price.
There is a strong resistance that is not letting the price rise but if we go back 3 weeks ago, we can see a bearish candle that closed outside the Bollinger Band and after that...
The price now is in between a support level and a major resistance level, that's why the last candle was pulled down.
On the Currency Strength Indicator, the GBP is becoming stronger while the JPY falls a little bit.
Stoch RSI shows a nice view to go long, the line K is close to cross the line D, which it gives us a good chance to go bullish along with the pair.
The price just bounced back from a past support level, bullish candles are giving a green light to go long. MACD line is about to cross the Signal line and Stock RSI is deep on an overbought level. The TP could be in the next past resistance level.
Why shorting USDCAD? The last 2 day candles closed below a strong historical price line that comes all the way back from 2015, today’s candle remains below the line even though it’s bullish. MACD has already negative volume and Stochastics is above the overbought zone. Stop loss and take profit are also based on historical price lines.