About meTech guy committed to learning forex trading. I'm very much still learning but I publish my trades and ideas here as a kind of trading journal for myself, but hopefully other might also find them beneficial. Feel free to get in touch or provide feedback.
Price appears to be in a rising wedge formation and looks to have plateaud. We can see a double top formation.
It is possible that this is a ascending triangle which is a bullish reversal signal, however with StochRSI overbought, and RSI below 50, as well as overall market sentiment, the signals suggest a healthy move to the downside.
Measured objective ...
Good day all!
We’re going to take a look at the recent chart for Bitcoin and where we might be heading next. For more background on the current state of the fundamentals currently affecting Bitcoin, check out my previous post.
Now let’s dive in and look at the TA for Bitcoin.
Price has been range bound between 6200 – 6600 for the past 2 weeks, but we seem to ...
I would like to share my views on Bitcoin's current movements (or rather the lack of!) and see how the price of Bitcoin might move from here, what factors we should be aware of moving forwards and how we might navigate these difficult waters.
First of all, until we get some clear sense of direction on Bitcoin, I’m not spending much time ...
The price of BTCUSD is approaching 6800 which has a number of factors that could cause price to jump and give us a trading opportunity.
The 6800 level:
- is a previous S/R level
- is 68% fib retracement of Jun 29 - Jul 27 move
- Intersects with short term upwards trendline
Expect bulls to push the price to retest the upper channel to 7800 then watch to see ...
Dash has been one of the few strong coins since BTC has started to become shaky. I'm avoiding holding Tether at the moment and so will store my funds in to DASH instead.
DASH has had a strong few days and looks bullish vs BTC, so offers a good place to protect funds until BTC bottoms out.
I'm curious what other traders are doing during corrections? Please ...
Strong daily downtrend in play. Price has retraced over the past few days and is now at the Fib 68 level, where a bearish engulfing/signal with multiple dijis has formed. This aligns perfectly with the downwards trendline resistance offering a great entry point.
Gold looks like a very good long at the moment.
Gold has broken above the recent downwards trendline and looks about ready to retest the trendline as support.
There's good confluence of...
Confluence of 200 EMA
Bounce off of 1st trendline support (purple line)
Bounce of Fib 61.8% level
However, my spider senses are warning me that it might be a wee bit ...
For anyone that bought Litecoin yesterday, it's temporarily stopped for a breather.
An ascending triangle has formed and price should break out above. The measured objective (which is measured at the largest width of the triangles "mouth") shows that price will likely reach around $63-$64. There is a Fib 76% level that could act resistance on the way, but i ...
Price has broken through this trendline. Will enter on break around 1.738.
There could well be a reversal at 1.72 and retest of 1.74. Just sit tight or sell the first position and reenter on the re-test.
Morning Star derivative has formed at the fib 50% level and has strongly broken above recent short term down trend, suggesting that bulls have acknowledged this level.
We also have extra confirmation with Hidden Bullish Divergence and Stoch crossing out of oversold levels.
GBPUSD has had a nice bull run recently. Price did gap down at the weekend, but yesterday a bullish engulfing candle formed indicating that bulls are still in command. The signal has formed above a s/r area and is aligned to the recent trend line. Things could get a bit choppy midway, but the next major resistance is around 1.3370, where H-resistance intersects ...
Daily pinbar rejection of the recent downward move.
Now because price moved aggressively upwards on 15/3 after the FOMC, it is possibly that price could continue heading higher. However its a pretty compelling signal and the previous downwards move from 2-14 march was strong, it's quite possible that this could signal a resumption of that down move.
So far ...
AUD has been unbelievably strong recently. Price has broken above the dotted red trendline and retested the trendline on the 4hr chart.
Waiting for price to retrace to the blue 1hr trendline to enter long. Expect some resistance around 0.7710 but I think price could now make it to 0.7760 before hitting major selling.
There's so much going on here!
Morning star derivative/bullish engulfing signal
Trendline retested as support
Fib 76.4 retracement level
I think that movement may be quite slow pending this weeks FOMC. Obviously the outcome of that meeting could have a huge effect on this trade so trade with caution.