Ethereum made a strong run up to $250 following a steep decline which tested the $100 level. The $250 level is a key point for Ethereum, and bulls needed to convincingly trade up above $250 to continue the trend.
Instead, the price rejected.
I'm looking for key levels on ETH for short targets:
In the long run, ETHUSD needs to hold above...
The NZD/CHF rejected the 0.63 handle and turned lower. As of this writing, the NZD lost the 0.62 handle and is in the process of losing the 0.61 handle.
I'm looking for a minimum test of the 0.60 handle, where you can see clear resistance before price finally managed to close above. This serves as my first profit target on a short position.
If we get below the...
To go higher, oil needs to keep gaining levels. Looking at the four hour, it looks like momentum to the upside has been slowing down, notice the smaller candle sizes.
If we don't make a higher-high, then we're probably going to go back and test support. And, I have a feeling that bid support lower is not that strong.
If oil prices turn south, then...
I'm betting short on NZDUSD because price failed to make a new high in its last swing. Now, I'm looking to see if support can break below. If it can, I think that NZDUSD will go much lower.
It looked like NZDUSD was trying to accumulate on the daily. But now, I'm thinking that the accumulation might fail.
For all you forex traders out there, you know that the major fx pairs all trade against the dollar. As a result, keeping track of the dollar index (DXY) is of paramount concern. Here, we've seen that DXY has pulled back to about 100 after launching up to 104. But after trading in this narrow range for many weeks now, I believe that the Dollar is poised to go...
The uptrend in NQ continues. As the uptrend continues, we look for areas where distribution could offset the bullish momentum. So far, nothing has stopped this rally in NQ, and the last level standing is near the ATHs, about 500 points up from where we are now.
I think that you've got a good short opportunity up near the highs. But whether that trade actually...
As the indices trend up, here are three points of interest you want to keep an eye on.
At each of these points of interest, you'll likely see price face resistance.
What you want to keep your eye out for in terms of trend reversal is a sideways action, which would indicate price distributing the up-momentum.
Until you see price start to top out and trade...
While it boggles my mind that markets continue gaining while 33 million people are unemployed and major retailers are starting to file chapter 11, nonetheless, the technicals suggest higher.
There's not a lot stopping Russing from at least filling the gap on the futures, and not a lot stopping this uptrend from continuing.
Bitcoin is at key resistance here around $10,000. As you can see, we've nearly retraced the entire move down from $13,500.
We could easily see new all time highs on Bitcoin if price continues to trend higher, as new buyers would come in and propel trend further.
However, if we fail here, we're probably headed signicantly lower, probably back below $4,000.
Distribution occurs prior to a downtrend. Distribution is the process of "smart money" selling shares without significantly affecting price. Source: school.stockcharts.com
The attributes of distribution:
1) It occurs after an advance.
2) Price should form some sort of a topping pattern. E.g. a double top, rising wedge,...