This chart shows BCHUSD on the 1D scale. We have identified two very similar pattern structures that may be an indicator of a market move towards December. Those are the January 10th bearish sequence from 2,945 to 605 and the May 6th bearish sequence from 1,858 to 408. Both Lower Highs on the 1W Falling Wedge. Similarities: - Both resulted in around 77% - 79%...
This pattern displays on 1M (monthly) terms how the 2008 crash on oil prices can be related to the 2014/ 2015 crash. Similarities: - Both crashes resulted in around -77% losses in value. - Both recovered around 0.618 on the Fibonacci scale. Differences: - The 2014/2015 crash was more than 3 times longer than the 2008 crash (and may possibly affect the width of...
This chart illustrates how the previous bear market (2014/ 2015) on Bitcoin evolved. The event horizon between the 1166.89 Top and the 155.69 Bottom was 59 bars (413 days) during which BTC lost 86.35% of its value. If we apply the same parameters on the current bear market, we get a projected bottom on a 1W candle around 28 January 2019 at 2,686 and an upside...
This pair has been trading on a very long term bearish pattern on the 1M chart (RSI = 44.631, MACD = -0.196, Highs/Lows = -0.1826, B/BP = -0.8800) and the neutrality on the 1W chart (5 indicators) suggests that a High has been reached. The bands appear to be widening for the supports, so we are short with TP = 6.700.
The pair is trading on a long term 1W Channel Up (RSI = 56.126, MACD = 0.050) that is near or has priced its Higher Low (Highs/Lows: 0.000). Long term buy position with TP = 8.6500.
We have constructed a quick cross study of the 2 key factors that affect Gold's price currently: the equities and the Dollar Index. For this examination we picked the S&P (SPX) and US Dollar currency index (DXY) to compare with Gold's futures (GC1!). We see that since the stock markets stabilized last May, Gold quickly picked up the pace suggested by the rising...
This pair is trading within a 1.3900 - 1.85490 Rectangle on 1M (RSI = 56.218, Williams = -47.458, Highs/Lows = 0.0000) since June 2011. The downside gap is therefore significant and traders who wish to take a long term approach on EURZND can go short with TP = 1.51347 and 1.45887 in extension.
The pair is trading on a very long term 1M Channel Up (RSI = 57.375, MACD = 0.349, Highs/Lows = 0.2662, B/BP = 1.5626) that has a sizable downside gap to fill in the attempt to price a Higher Low. Our action plan is to short towards 15.08674 and then buy for the next Higher High (pattern continuation) with TP = 18.5000.
The pair is attempting to develop a Channel Down on 1D by currently pricing a Lower High. 9.9000 can be taken as a potential short target.
EURSEK is trading on a long term 1W Channel Up on a low slope (RSI = 51.043, ADX = 12.316, MACD = 0.049) that is near pricing a Higher Low (Highs/Lows = 0.0000). We are looking to utilize the next medium term bullish leg towards a Higher High. TP = 10.80000.
The pair is trading within a long term 1W Channel Up (MACD = 0.012, B/BP = 0.0026) which is however narrowing down its Higher Highs (RSI = 51.964, Highs/Lows = 0.0000). 1.58937 is the support and Higher Low limit. Go long with TP = 1.65094.
The 2.9590 - 3.8740 Rectangle remains valid (ADX = 33.882) but on increasing bearish bias (MACD = -0.046, Highs/Lows = -0.0418) indicating that a support break out is imminent. Until that happens of course, every spike towards the 3.8740 is a short opportunity since the long term trend remains bearish on 1W (RSI = 36.187). We remain bearish on Omisego with TP =...
DOGE remains on the correction phase after the late August - early September extraordinary rise. The 1D Channel Down (RSI = 31.500) made a Lower Low if the 0.0043 Resistance holds, a more aggressive Channel Down may emerge on 4H (RSI = 37.863). In any case the long term trend remains bearish and we are still targeting 0.003170 and 0.002000 (1W support).
BNBUSD is about to cross the 1D Triangle (RSI = 37.445, Highs/Lows = -0.2892) to the downside, an event that will create a new Channel Down pattern on accelerated pace (MACD = -0.138, B/BP = -0.5823). Mid level TP set: 8.8857, 8.2522 (support levels), long term TP = 7.5154, wich will make an excellent Lower Low for the long term underlying bearish pattern of the...
TP = 0.088 hit as the 1D Channel Down (RSI = 37.914, MACD = -0.002, Highs/Lows = -0.0056, B/BP = -0.0102) made a standard technical Lower High rejection, with the price testing the 0.08788 previous Lower Low on the inner Channel. The bearish momentum on 4H is accumulating (Williams = -82.770) and should look for at least a 0.0777 Lower Low. On the long term we are...
The 1D Channel Down (RSI = 30.854) is extending its decline on a standard bearish pace (Highs/Lows = -0.5356, B/BP = -1.0797), breaking the previous 9.040 Low. If this momentum is correctly capitalized, then the next Lower Low can extend towards 8.000. Even in the event of a break upwards, the 1W Falling Wedge (RSI = 35.465, Highs/Lows = -1.6694) exerts...
The 1D Channel Down remains intact (RSI = 39.500, MACD = -6.670, Highs/Lows = -0.1655, B/BP = -0.9092) as DASH is simply consolidating towards a Lower High, preparing for a rejection towards a new Lower Low. Since 1W remains on a long term bearish course (RSI = 37.207), we expect this low to be near the 1W Support and our first TP = 126.55095. On the longer term...
The 1D Falling Wedge (RSI = 32.937, MACD = -0.573, Highs/Lows = -1.0165) is approaching its exhaustion point near 14.50, having already crossed the previous 15.25 Low. The 13.55 1W Support is the next obvious target, crossing of which will validate the much anticipated 1D Channel Down. We are keeping our ong term TP at 8.78.