SomtoJF

SomtoJF Updated 

the upside right now but I’m not expecting the upward movement to die down just yet. The market will prove me wrong if it fails to hold the support at 6.3 so for now my instincts are telling me to wait for that support to be tested... if it holds a then I’ll buy but if it doesn’t I’ll still buy the dip at the bottom😂😂😂

SomtoJF Updated 

In my last analysis is CADJPY which was basically an analysis of CADJPY on the daily timeframe, I spoke about two trading opportunities which the price action presented on the daily and 15M timeframes. The first one is a shorting opportunity on the daily and the second is a long opportunity on the 15M timeframe. Now because the higher timeframe is signalling that...

SomtoJF

This is a very important setup forming in the CADJPY. I am already anticipating two trades from this setup only. I'm seeing a heads and shoulders pattern forming in the daily timeframe. I want to manage my risk as best as possible so I'm going to short the market when price action hits the blue support so that I can keep my stop loss as tight as possible and my...

SomtoJF

The pair looks bullish in the coming days and I'm looking for every reason to long it. I took a trade monitoring the 4H timeframe and and I'm looking for more opportunities to scale in. The 15M timeframe is forming a bullish flag and it looks like a good opportunity to enter. I"m taking an entry on the breakout.

SomtoJF

I entered this trade about two weeks ago. It hasn’t moved very much since then but it has entered profit though. I strongly believe this has a high probability. The weekly timeframe seems to be forming a triangle pattern (the bottom trend line is the yellow line seen on the chart) and the daily price action just broke out of the bullish flag and bounced of the...

SomtoJF

I think this is a good buy. There is a confluence of support at the bullish flag and the 100 SMA.

SomtoJF

Ethereum has broken out of the bullish flag and I’m expecting a retest. But as at time of publication as you can see price seems to be in a zone where an ascending triangle can be formed. If that happens and we see a breakout to the upside then a new ath is very possible. I’ll stick to my previous bias and say I think we should long this one

SomtoJF

Price action is currently in a bullish flag. This is a very reliable pattern. I’ll say we wait for a legit entry signal and that will be a breakout to the upside and a successful retest. If this happens, then we’ll see a new ethereum all time high.

SomtoJF

So far I haven’t seen any reason to sell if your holding. The 6.3 support generally seems like a good support for price action to bounce off of but for ME there’s one small problem. This might not be a problem with other traders but it is for me. Although price action is hanging around the horizontal line of support, it has managed to close below it. Although that...

SomtoJF

So I have two sets of analysis for this one. The short term which I’ll take as probably a few days and then the long term which is a few weeks. So on the short term it’s not looking bad. In fact, it’s looking pretty good if you ask me. Price action usually becomes really slow in the purple zone but right now it looks like it’s about to break out of that zone....

SomtoJF

As you can see price action just broke out of the descending triangle to the upside. Next major resistance level seems to be the 7.2 as I strongly believe it will break the resistance level before that. My advice... have some bakeswap in the bag.