Hi PlutusX Family,
EURUSD is in an interesting area for price action. There are several potential setups and all around a 33% probability. We must watch for breakouts and retests before building a case for either scenario.
1. 1.15266 is a daily pivot point, a previous support, and 23% fib on the previous leg.
2. 1.17687 is an 88% fib zone + a major...
Hi PlutusX Family,
Here we have the GBPUSD price action breaking through a descending resistance trend line. As a result, we experienced a bullish move. Now price action is nearing resistance at the 1.31825 level.
My argument for sidewards action and significance is as follows:
1. The level was previous daily pivot point (close/open)
2. The level is a 88.3%...
Thick White Line is a higher probability.
Currently, BTC is testing a major Resistance zone. The potential reversal will bring us to immediate support zone. If the Resistance breaks then we can hot the significant resistance zone around $6,900.00 - $6,700.00.
Look at 4H - 2H retests to confirm breakouts or reversals.
Since our last post, BTC failed to hold above the $7,800 zone and closed below the resistance line, placing price action back in the wedge pattern discussed previously.
Now price is continuing to fall without any noticeable candlestick pattern signs for possible reversals. However, using the previous leg as our base we can draw a fib from swing high to swing low...
On the HTF we see BTC/USD create significant support zones at the $6,100.00 level. Price respected this support line several times as the lower highs using the $6,100 as a base creates a triangle pattern.
We have already experienced a breakout which got us to the $8,400 levels with a retest and bounced back, using that former resistance trendline as support....
On a daily timeframe there is significance around the 9480.00 USD level. The daily candle has closed above that zone and candle stick patterns are suggesting a bullish move will follow. Diving into a 4 hr timeframe structurual significance is forming above the same 9480.00 USD level.