a clear head and shoulders formation can be seen on the USD/CAD pair. This should lead to a solid 15-30pip scalp on this pair.
My personal expertise is in trading regular currency pairs. However I have made some very accurate calls on BTC in the past year. My reversal zone call a few weeks ago panned out perfectly. As of right now, I feel BTC is trying to conform to rough wave structure will most likely react to the major lines of resistance shown on the above chart.
Simple setup, going off the resistance provided by a pass through trend line along with price pushing towards and potential breaking a key level of horizontal support that is also in alignment with the primary daily pivot point (not shown on chart).
This pair will most likely try to push lower towards the next level of major support. For the most if you tend to trade more conservatively you can enter at the highest level of resistance, however there is no garuntee that it will reach that level. Although in the event it does reach that level it would be wise to wait and make sure there isn't a break & close...
After looking at this pair on larger time frames it is evident that there is going to be a 30-50 pip movement upward. This is confirmed by a potential head and shoulders formation on the 15 minute time frame and can be further confirmed with a break and retest of the pass through trend-line.
After identifying a few key levels on larger time frames I worked down to a 15 minute and noticed a possible head and shoulders formation that is working to confirm the current outlook for the medium term setups for this pair. Looking to take 30-50 pips on this trade.
EUR/USD is in a great buy position as soon as the next candle closes above the .618 fib level. Not only is the currency pair reacting perfectly with the 4hr fib level but there is also a descending pass through trend line that is currently holding price and preventing it from falling lower. However, in the event the next candle breaks and closes below the...
BTC/USD is still very young as far as currencies go. But it is now within a very important zone, at least an important zone if you're hoping for bitcoin to restart its climb towards 20k+ value. Its to early to say yet, but based of how the currency reacted in the past once it reached this zone, its safe to say we could expect to see a very volitile push upwards...
GBP/AUD is inside of a symmetrical triangle formation. You could issue a scalp buy after the break and retest of the descending trend line, as it will try to reach the longer term descending trend line. Once Price reaches the primary descending trend line, you need to wait and see if it fails to break through on a 4hr time frame. In the event it does break...
Ripple is starting to correct upwards. After breaking through the bottom horizontal line of what was resistance, is now acting as strong support. It has also broken and retested the descending line of resistance. Now all that is left is for it to continue to push through the remaining primary horizontal resistance levels. Over all ripple is in a great setup...
Scalp from the purple horizontal line, being help back from that resistance and the accompanying fib level. Ultimate resistance being the descending trend line. Target area being the lower purple horizontal level.
ETH/USD like most major crypto pairs is shaping up for long positions. In the above technical setup, we'll wait for ETH/USD to break through the triangle of resistance formed from the symmetrical triangle, horizontal resistance, and fib levels. As always after an inertial breakout, wait for the candle to close and retrace before entering your position. Even if...
the AUD/USD Short went perfectly, Now it is in a position for a solid buy as long as price closes above the horizontal line of support. If it closes below and retest, add another short position. Other wise hold the LONG for the take profit shown in the picture.
AUD/USD is primarily in a sale position due to being overbought and breaking through the ascending trend line. However due to the reaction around the current fib level and horizontal support, you could take a small lot sized scalp and target the descending trend line for your take profit zone. But in the event it breaks and retest I would close the position for...
Bitcoin is clearly in a fantastic setup for long positions. It is being held by the 0.786 fib level, and if you trace it back you'll notice that prices had faltered around this area in the past. Now would be a solid entry point into a mid-long term buy. However it could still continue lower to the next support zone. Once BTC breaks the descending trend line...
CHF/JPY is looking to complete a five wave structure and should be correcting back downward with an ABCD wave formation. There is a resistance zone on a daily and it is backed up by the 1.618 fib level.
AUD/USD has been pushing upward for some time now, and is looking very over bought. It has reached a primary level of resistance on a daily time frame that has held price action very well. On a 4hr time frame there is an obvious ascending trend line, that combined with the daily horizontal line creates a triangular entry area. If the line holds you could...
Ripple has a lot of upside potential. Although its early in crypto currencies life cycle, most pairs are already conforming to technical indicators. In this case Ripple seems to be reacting perfectly with a Fib Retracement on a 4hr time frame. Along with a Horizontal line of support still holding price action. I'm personally scaling in LONG positions to hold for...