The 4-hour-chart bearish flag has been confirmed. This is an excellent short entry opportunity. Always do your own research. Good luck today.
So the pump up has been a lot stronger than I anticipated. However the fundamentals have not changed. I used the zones and trendlines over time to build shorts, and now we have broken down the last rising lines any bull could be holding on to. This is a bit of a raw post but I did not want to keep this from you all since a lot of these lines have been pretty...
The bulls managed to push back up until the drawn fib retracement around 1.09677. From there we saw a huge reject of the break up from the drawn descending trend lines, following the lower tops from the last few months. I used the entry at this sell level I drew up in earlier posts to build a new short position. We just had a rebound at the fib retracement level...
As discussed in my last post we had a little bounce up. Now, we are clearly continuing the path downwards. We can expect to revisit the lower trendline in the short term. Please check the chart for possible entry and exit zones for a good risk/reward short position.
I'm covering our shorts because I expect a bounce up from the drawn trendline. At this point it is crossing a pretty strong support level around 1.075 - 1.08. You could even consider going long for a bit since risk/reward is good at this area. Longer term, I still prefer bearish over bullish. As I explained in earlier updates.
Since the last update EUR/USD shot up to the upper side of the trend channel once more. After than, we broke the downside of the channel and moved lower, as we anticipated. Future economical turmoil in combination with political tensions in the EU will keep pressure on the EUR. Short-term, we expect to re-test the 50% Fib retracement of the most recent bounce up...
Bears have taken control of current price action. The short-term picture has become less optimistic, so I'm using the current uptick in prices to cover some of the longs we have built up earlier. We are still above our most current buyzone (still visible in the chart). So we can easily scale back our exposure, taking a small profit while reducing exposure to a...
After some consolidation, BTCUSD seems to be ready to test the area on the bottom of a forming trendline. We have been up to the 1st and the 2nd price target going long since my last update. After forming a new bottom around the lower trendline, the bulls are ready for another push towards the 7k range. Good luck and trade safely!
So EUR/USD pulled up a bit more than my first short entry target. Which gave us the opportunity to extend the short position. We have now tested the 50% Fib retracement and moved back down. Lets keep a close eye on price action at the bottom of this channel.
The short-term update I published earlier proved to be wrong. I still hold on to my modest short position and look to extend it in the zone as drawn in this chart. I still consider us being in an upwards wedge, and expect a move down in the next 4-24 hours. Fundamentally I don' t expect the ECB to stand down after the unlimited QE news of the FED. The risk to...
I expect EUR/USD to return to the lower end of the drawn channel. As you can see, the current level is a good level to open this short position. Also, in time, I expect us to go even lower and break out of the channel. So I wont be closing the full position when the lower end of the channel is reached. Remember: always do your own research and only trade modest...
So we spend several hours in my "buyzone" range allowing me to look for buy signals and accumulating a nice long position. Now we are pulling out of it on the upside, I updated the support trendline to match the new higher low we set today. Short term I'm still looking at these targets: 1st: 6850 2nd: 7000 3d: 7500 I also added a potential upper channel line,...
The short-term trend line from my former post has been broken, but this has just been shaking out weak hands. I still consider the current scenario very bullish and keep focus on these targets. 1st: 6850 2nd: 7000 3d: 7500
Bulls are getting back in control holding the drawn trendline. I expect the 6450-6500 zone to break in the next ~12 hours. After that, targets: 1st 6850 2nd: 7000 3d: 7500