Following a big move up starting on the 28/02, EURGBP has been in a retracement & has reached the 0.618 retracement point where there is a massive amount of support (follow the green box to the left). There is a double bottom with RSI divergence and the 2 bottoms were also oversold (see teal). Aswell as all this, there is an AB=CD completion present within this...
AUDUSD looks to me like it might drop slightly from where it is at right now to form the second shoulder of the H&S pattern. Reasons I will be looking for longs in green zone : Potential formation of second shoulder Potential confluence of 50&100 EMA Trendline Potential ABCD formation completion (if price does indeed go down from where I marked on trade idea I...
AUDUSD has seen a decent sell off from a high resistance area & I believe further downside is imminent. Would set sell order higher up as I believe a small bull trap to this point may occur & more importantly, taking a trade with less than 1:1 RR is not advisable (would be the case if you just opened a sell here). Sell order is placed on the potential second...
Expecting bullish trend to continue from this point. Reasons : resting above triple EMA + trendline Previous resistance could act as support Fib confluences Decent candle stick formations - Lopsided head and shoulders pattern on 15 min TF (will put in comments)
Some people are now calling longs on BTC following a '2 bar reversal' pattern on support. This is not enough for me. The momentum down is extremely strong and I wouldnt be longing from this point. Even if it did work out, It would be against my rules of entry as not everything lines up here. The next point I am interested in is the 0.5 fib point where resistance...
ETH is heading toward an area (purple box) where I believe a long position can be taken (provided there is sufficient price action confirmations to support the trade). The box has the 200 daily EMA (From which there was a decent reaction off last time it was visited),the lower trendline & is coming into a zone where previous resistance may turn support. RSI is...
ICX witnessed a decent reaction off the 618 fib the last time it visited and is currently inching its way back down to this point. I believe this point is very important to watch if you want to open a long trade on this crypto. The price is trading below all the EMAs atm and I believe we will see a tightening & flattening of these EMAs around this area. After...
Long term view : I believe BTC will form the head and shoulders that is in progress before falling lower toward the purple zone. The following are present within this zone : -Daily 200 EMA (most important factor imo) - 0.5 Fib - Good resistance = support off the neckline of a previously formed head and shoulders pattern (green) - Potential formation point of tip...
Short term view : BTC has found some support on its 4hrly 50 EMA (= 1hr 200 EMA) & 200 EMAs and looks like it is forming a head and shoulders pattern at the top of the upper trendline. If you compare the momentum of the 2 moves upto & from the head of the yellow head and shoulders pattern, you will see that the sell off was alot stronger than the buy up. This...
ETHUSD , aswell as many other cryptos are now seeing a much needed pullback. This is a result of arrival into areas at which profits are being taken & sell orders are sitting to be activated. We have just seen a nice bearish head and shoulders occur and we are moving down with great momentum. As a result of this, I believe we still have abit of distance to go...
Cardano has arrived at a decent longing zone. Reasons : Resistance = support structure to the left Daily 100 EMA 886 retracement + 1.272 inversion + 1.272 extension ABCD completion RSI massively oversold Good amount of RSI divergence (flat on RSI but lower lows on chart) Sell momentum seems like it is dying down now.. I would look for a large bullish reversal...
28th Jan : BTC has been going up really well over the last week and abit. We are now coming into the upper trendline + a great deal of resistance to the left. Im still confident the idea from 28th Jan will hold true and we may see a head and shoulders pattern before a real breakout to the upside. My predictions : We will see a spike and break above the...
We are seeing a strong sell off from around the 11.25k mark (which happens to be along the upper trendline) I am now watching the 10k-10.3k mark for a possible opportunities to add to BTC holding. Within the marked zones, we have : - 4hr 200EMA - 1hr 100 EMA - 786 fib - 10k (round number) - Lower trendline - Possible support present within previously formed...
We are seeing a strong sell off from around the $980 (which happens to be along the upper trendline) Price is currently reacting with 4hr 200 EMA and I believe it will break through this point as the momentum of the sell-off is very strong. I am now watching the 900 mark for a possible opportunities to add to ETH holding. Within the marked zone, we have : -...
After a successful 2 target winner as a result of 36-48 hrs of good mometum (see related ideas), I believe we are coming to a point where we will witness some relief soon. There is a good amount of resistance present in the marked red area (evident in the zoomed out view I will post in updates) so it looks like a decent area to short from if you are interested...
From a purely technical standpoint, I believe Bitcoin will hit 7.5-8k USD before continuing upward out of the wedge that is forming. Expecting a strong move away from the buy zone when price hits there. This may result in some kind of head and shoulders pattern (hopefully the chart shows this clearly enough). If below summary plays out, the green zones are where I...
After a massive move up, price as formed a head and shoulders pattern + broke below the neckline. Highlighted are 2 possible accumulation points if price reaches these points in the near future. Point 1 : Fibonacci cluster (1.618 inversion & 1.414 extension) + big resistance reaction to the left (follow green line) + previously formed structure support +...
Price is creating a nice channel within which the 50,100 & 200 EMA have crossed bullish on the 1hrly TF. The marked 'buy zone' (8.4k - 8.5k) would be a nice place to look for a long entry as it contains : - convergence of all 3 EMAs that have recently crossed buliish. - 38.2 + 50 fib - Resistance that should act as support Goodluck