I spotted a correction in NZDUSD, the pair has been trading sideways for a couple of weeks now, and in general the trend isn't strong in one particular direction, so I advise caution with this trade. I'll re enter short after the next weekly close, since I've been stopped out by a sudden price increase. Key levels are the green and red dotted lines, a breach of...
Well, it's Friday and wanted to test something out. Have a great weekend people!
As we see on this study, cable has been trending down, and recently engaged in a lateral price pattern that's taking out a lot of retail traders who entered longs or shorts with bad timing. This movement calls for an explosive breakout, and I'll be watching for the beginning of it to capitalize on the move. My target is a daily close below the resistance line,...
Similar setup to my GBPJPY trade, risk/reward looks very good in this one. Stop one ATR over the entry, price already breached the previous highest low bouncing off a strong resistance zone. I'll cover once price hits my targets, setting up a break even stop after hitting the first target, or reaching CCI values below -100-200. Trade safe gents, Ivan.
Sadly for our British friends, the title of this chart is a well known gastronomical fact... Now, all jokes aside, let's get down to business. In this chart we see the interesting indicator published by Chris Moody, highlighting days of the week with the colors of the rainbow (per Tim Westian suggestion), and also, inspired in his observations, I noticed that the...
The pattern that's formed in this chart would make sense with the recent bullish moves in aud, but I'm on the fence on taking it. I'll wait one day for confirmation before jumping in. Publishing it for future reference.
In this chart we can see a high and tight flag breakout, the entry offers a pretty low risk setup after we confirm after today's close, and tomorrow's price action. I'll look for an entry then, stop at 3 ATRs initially, and then set to break even after selling one of two batches. Target would be at 0.965, but might move way higher than that. Already in the mood...
USDJPY shows multiple signs of weakness, as per varied disciplines...there's even a bearish Gartley completion hidden underneath, as well as fibonacci clusters over the current trading range. I'll look for a decent entry as soon as NY market opens in 30 minutes. See you at 107.094 or even 105.945.
Short term trade, there's a possibility of hitting the middle of the channel soon, I'll watch for an entry at NY's market open. Big support underneath the current price, risk to the downside is relatively low, compared to the upwards potential.
In this chart I depict the different rallies and corrections where climatic volume was seen in the past, in the BTC-E historical chart. We can appreciate what appears to be an Elliot Wave Flat forming after the 1200 top. I think we need to see climatic volume action before a new impulse begins though so I'll patiently wait for it to go long. The bull market that...
I noticed a countertrend impulse has been completed, this would point out to a zigzag corrective pattern unfolding. If the AB=CD symmetry were to hold, we could long this pair to then ride the impulse down on the short side.
In this chart we can see my interpretation of the wave count, and volume action we've witnessed during the past few days. If the structure holds, I expect to see a low of 390-414, before resuming the action to the up side. My position has been bearish for some time now, but as we approach the lowest lows, price action develops a loss of momentum, which indicates...
In this chart I describe the direction Bitcoin might go in the near future. The general sentiment appears to be bearish, but for the moment we are in a ranging market. Long term traders have extended the range down, moving us closer to strong support zones. Downward pressure is not as strong, but despite that bulls have failed to move price up and revert the...
Bitcoin's free fall below the 600 area has been pretty intense, but the selloff's reaching exhaustion. We're trading inside a channel, with clearly defined areas of brief consolidation over time, which act as support and resistance levels. I'm fairly confident that if Bitcoin manages to climb over 550-580 it can hit 754 by the end of the month.
BTC aims to reach a new low, as we can see from the exhaustion in the upward moves. Downward momentum is stronger and will take us down to a harmonic support area. My target is at least 540 usd in the near-short term. We will get plenty of chances to go long in time. ;)
We can expect the beginning of a new wave 3 on the break of the next fibonacci time zone line. Correlation with AMZN is strong and helps get a clearer picture. It's likely to hit the 540 level before starting a new rally, that if we fail to support 575 first, logically, which I think we will. Might be a good time to short or sell and rebuy back lower if you're...
We'll see but I think this is a fairly probable scenario... Test driving a custom indicator too. :)