Believe it or not, .702 is a hidden fib most do not use but has been proven to work over and over again. If the price for EURUSD breaks 1.1240 and can retest on the hourly, we certainly are shooting for the .786 as another strong reversal point. We also have many resistances on the daily that hold our .702 level. As always, this is just my opinion of this pair,...
As we can see, we have a nice higher-low and lower-high that allow us to assume a possible symmetrical triangle setting up. This would insinuate trend continuation to the upside to resistance 2. Good luck traders! As always, this is just my opinion of this pair, please trade at your own risk.
Bitcoin loves to push the limits of triangles. Since we haven't hit the top with this current uptrend, I would like to see hard buying into the top of the triangle, and then a nice sell-off back down to the bottom. As always, this is just my view of the market. This is not financial advice. Trade at your own risk.
There is hardly any selling pressure today as we near our 61.8% retrace off of a downward wedge that's been consolidating throughout the past 2 weeks. I would wait until we hit at LEAST 1737.00 to short this market. There seems to be no sign of major selling pressure as of yet. This is just my opinion of the market, this is not financial advice of any kind. Enter...
In a perfect world this would work. I don't know if market makers will manipulate this to take sellers out or not. We shall see.
In my previous post I had bitcoin in a symmetrical pattern that broke the resistance line. I have since re-assessed my analysis to a smaller time frame to see a short possibility by trend-line and Fibonacci levels. Good luck traders. As always, this is just for educational purposes only. This is not financial advise.
Well, we have crossed over a long resistance trend line and now we're in a symmetrical triangle which signals continuation. Good luck traders!
First BTCUSD analysis on my page. I believe Bitcoin is super volatile but after the boom in 2017 we can expect that the big boys who move the market have done their research by now. As you can see, bitcoin has made its way 5 moves up from the lowest price, ready for an ABC correction. Lets see if the market respects it! As always, this is for educational...
The 4th wave has just retraced back to the the trend-line and is ready for wave 5. Note: Wave 5 may form a double top with wave 3 - instead of going through the top of wave 3. Good luck traders! As always, this is just for educational purposes, I'm not a financial adviser.
Setup Overview: I believe gold has completed its 'A' pattern of the 'ABC' correction structure. Now that we have this data, we can make an educated guess that the market will go for shorts around the 1573 to 1583 mark (red zone drawn above). It's important to monitor price action in this zone before placing a sell order (because of the 100 pip differential between...
USDJPY has been on a run lately but with the very long 3rd wave completed, and making a move to the 4th wave, we can expect the 5th wave to be very small, with a chance to be in a good short position around the 110.35 price level as it corrects down. There is a trend-line that should run right below wave C. This may be a good area to buy at but it's too early to...
If there's one thing the market does often, its repeating itself. This is not a valid pattern of any kind, however, you can see a correlation between the two (5 wave moves) in the image above. This section in the chart is part of an ABC pattern correction that followed a 5 wave move to the upside on the daily time frame. The first pattern extends to 300% from wave...
After a look into the TA of this pair, I have gathered we are close to, if not at, the ending point of wave 5. I am bias for an ABC correction at the sell zone I have drawn out. Wave 5 also appears to be ending right at an 800+ day trend-line which has further indicates possible reversal. We may reach the line, or turn around close to it. Good luck traders, and as...