EURUSD saw a clean rejection from our previous support, and currently is moving upwards to potentially retest our descending trendline. Furthermore, the 0.618 Fib retracement also corresponds well with our preferred entry point, providing us with more technical analysis elements to confidently take our short trade! Depending on the next few hours of price action,...
Price is currently consolidating within a previous major support area, where we could consider opening longs assuming it closes above it. The next challenge we are faced with, is the current parallel channel which is more visible on the hourly time frame. I'm hoping to see the price break out of the channel and continue to the upside, retesting our long term...
We are looking to enter shorts on the right shoulder on H&S pattern, which also corresponds well with the 0.618 fib retracement, as well as the 4H descending trendline.
This is a follow up from my previous analysis on EURAUD. Looking to re-enter our long positions on the retracement of 0.618 Fib level. We are also trading within a parallel channel and are expecting to create another LH!
After successfully breaking the ascending trendline, we are now looking for a retracement/pullback back to retest it on the 0.618 fib level.
After having a clean break through our respectable descending trendline as seen on the chart, we will be looking to enter longs on the retracement of the 0.618 fib level (which also corresponds well with the trendline retest), and hope for further upside from there.
Following the successful break of the previous ascending trendline, we are now looking for a potential pullback into the previous support zone (acting as resistance now) to enter shorts. It also outlines pretty well with our 0.618 fib.
We are currently consolidating within the rising wedge where we could consider opening a short position. It also outlines perfectly with our resistance zone as seen on the chart. This is quite a risky trade as the bulls seem to have the higher hand here, however, we do seem to be entering an overbought zone. This is NOT a financial advice, trade at your own risk!
After 1.5 days of trending downwards within our parallel channel, we finally start to see the price slow down near our 0.618 Fibonacci retracement level where we might consider opening a long position. My bullish bias will be confirmed if we manage to finally see a solid break and close above our channel as seen on the chart. Manually executed long with a 60 PIP...
After having a clean break of our descending trendline, the market finally decided to retest it once again providing us with a potential long opportunity. Simple trade set-up: BUY STOP @ 1.05360 SL - 1.05162 Target 1 - 1.05520 Target 2 - 1.05779 This is NOT a financial advice, trade at your own risk!
1H ascending trendline saw a breakout earlier today, providing us with some short term bearish insights. I'm looking to enter shorts on the retest of the trendline next to the 0.618 Fib level, and target potential profit levels at the 8600 support level.
Looking to retest the ascending trendline which corresponds perfectly with our 0.618 fib retracement level for potential longs.
Following my previous post, I can now suggest a more accurate entry point where we may consider taking a short position. Not gonna lie, this is a rather complicated situation we find ourselves in...Personally, all of this seems like a huge retracement wanting to close in very soon, and we are approaching a crucial resistance area which should be taken into...
At the moment price is seen to be consolidating within the outlined wedge, following the previous bullish build up. After the huge dump, we saw the price commence this retracement phase in which we still haven't found a proper resistance yet. This brings me to my first point: looking at the daily, the confluent 7900/8000 level seems to be outlining perfectly...
This is a follow up on my previous post. We managed to break below our support from the wedge consolidation on the 15m timeframe and currently we find ourselves in a parallel downward channel. The fundamentals helped push the price lower in a short period of time as the indexes opened really low on the US session, and as we all know, for the past month or so,...
At the moment we are in a downtrend on short term time frames. We can see the price is currently consolidating within the wedge formation and it looks like there will be a breakout soon. You can view it more clearly on the 15min time frame, but if you take a look at the 1H as well, you can see that we also might be able to retest a descending trendline for the 3rd...
Going to keep this one short and simple. We broke our ascending trendline and further downside is expected. Most of the time, with every break comes a pullback. As you can see on the chart, the arrows showing two possible re-entry levels for the short positions: 1) We pullback to the minor resistance area of 6400-6500 before dumping again. 2) We pullback further...
So, this past week was rather flat for Bitcoin in comparison to the previous ones. We saw the market consolidate further up but essentially become flat due to the very important resistance level of 6900. We saw it retest the resistance MULTIPLE times on the lower time frames, and yet, failed to breakout of it every, single, time. Despite the positivity coming from...