Heres to all the moon boys calling for a rally on bitcoin....
If price taps the resistance block marked in red and makes an SFP on the daily, ill be shorting it.
Look at how there is a swing high "crouched" just below the resistance zone, its a clear setup of making breakout traders go long as price runs into resistance before it gets dumped again.
Not even a single weekly candle managed to close above the range high, all it has done is smack itself on the range high and get rejected, thats a macro bearish signal, at least to me
And we should be heading down to quarterly mid range level where we have a weekly bullish Orderblock which needs testing for support.
I marked out the level where we are seeing...
Bitcoin decided to make a decisive move past the red zone, acting as resistance previously.
Broken resistance- 3970 level
Approaching resistance levels- 4174 and 4241
Ideally we want to see the red box hold as support on retest.
Will be looking to long on the retest of red block
Etherium is the hot favourite in crypto, if you aren't looking at it, now is probably the time to start paying attention.
The bottom is in on the daily and weekly, .05400 near term target on the daily.
Let the show begin!
Mark these levels on your chart and what what price is doing around these levels on 4 hour chart.
We will be playing with these levels for a good portion of 2019, better get them sorted in your charts.
GU wicks have been crazy, but we cannot ignore the fact that it has failed to close the 4 hour candles above key daily level, that keeps my interest peaked for a short, now that brexit hype is over and DXY is hovering around support.
Targets are clearly marked, entry for a short at key daily level marked in red and stop loss is flexible for me. I would like to...
This pattern looks like a classic quasimodo pattern, which is indicative of institutions flipping their positions to shorts...
Expecting a pullback to the blue line and eventually it should dump as US dollar index looks to rally hard
This is one of my favourite setups. Price made a clear stop run into the bullish 4 hour orderblock and then rallied up and took out the swing high, breaking the market structure to the bullish side.
Now all we gotta do is WAIT! Wait for price to come down to .618 fib and .705 fib, which would be a great R/R long setup targeting 6600 level
Bearish divergence on the daily chart is very clear. Also if you check the weekly chart, we had a clear SFP formation which is also a bearish signal. RSI gave confirmation of breakdown when it made a "lower low", this upward movement we saw today is a an opportunity to long the majors- EURUSD, AUDUSD, GBPUSD and NZDUSD.
Invalidation of my idea is clear, if daily...
XRP has showed its hand and it wants to be bullish, it hit a key swing high level and is looking to retrace. I would be interested in buying the retrace down to .618 fib and target the red level marked which is a key daily level.
On the release of their recent announcement, AMD decided to make a move up. In the near term it should do a gap fill. My personal entry has been marked in red at .618 fib and the targets are the blue levels
SPX500 is showing clear signs of bearishness with the formation of head and shoulders tops, 2730 level being the clear resistance. We will have confirmation of downtrend underway once the hourly candle closes below 2702 support level.
I expect the market to make its move following US midterm election's results