US100 has reached the first weekly target after COVID19 (FIBO138.2 measured on the closing prices of the COVID wave). It has reached it with a huge impulse, without any deep correction, not even on the Daily chart since April 2020.
IMHO there is a high chance a deeper correction may shape out of this rally. I don't expect the market to turn bearish, but a...
Unless it comes back to the gray zone, price turns in the direction of the daily long trend.
First target is the size of the zone, second and third are FIBO levels, and there is also the zone around the all time high as a significant
This is a good opportunity to trade with the daily long trend.
Also, according to the IG client sentiment report, 71% of...
There was a break of the recent local high and the short countertrend line, there is a higher low on H4, so there is a chance for the price to rise. Long term targets are in Pink.
Curious about the market opening soon!
There is a short trend in GBPUSD since Nov 2007.
Recent long countertrend has been broken, but the start of the last impulsive move still stands (red zone). If the current long countertrend (on H1/M15) is broken, there is a chance those zones will fall, and then there is a huge room for further decline. Look for the break of the current long...
The countertrend developed on H4 has been broken recently, so on the medium term (couple of weeks) there is a chance for the NASDAQ to reach all time highs again with an impulsive move.
The pandemic can intervene, but technically this is the picture.
Target zones are indicated as well as the zone where there can be a change in the current long...
Price is stuck in the gray zone because buyers (who think that it's a correction and trend will resume) and sellers (who think that the trend has already turned to short, or want to exploit on the correction) have more or less equal strength.
When it ends (price prints above or below the gray zone), market either targets new lows into the correction of the daily...
trend is short since Nov 2007 (almost 13 years)
long countertrend has been broken last week
currently market is testing the start of the last impulse on the Daily
Since there is a nice impulsive move down on H4, I would wait for a retracement to the area 1.24123-1.23600, then go short when momentum shows a move down in the shorter time frames...
Trends are to become in sync soon above the green zones. If lower green zone is broken, target is the green zone above, then the local high, then FIBO 138.2 / 161.8
This is a long term projection and can change any time the uptrend (that is not even valid yet) changes.
These are the scenarios (if price doesn't stuck in a range) for both the short and the long side. Short has a higher chance (imho) now, but markets do what they want, so won't be surprised if it goes up. I'd wait with going long until the last LH is broken, but then go long after a retest. If green zone (LH) doesn't fall, I'd keep going short after every broken...
Friday broke last local low on the Daily, so I expect further move in the corrective short trend. I'd wait for a correction to a sweet spot because an important target area was reached with a steep move, so shorting now has a low risk/reward ratio.
I'd wait for the pullback and go short on the lower time frame when momentum changes in the red.
What do you think?
Dear Bitcoin fans,
Trying to pray up the price won't work. Analyze the trend instead. The chart tells me to go long only when the market trades above the 10'173.97 level on the Daily chart. Until then, we are still in the correction of the major uptrend, meaning price has a higher chance to go down. Also there are lower highs and lower lows forming recently.
Correction of the daily long trend is valid from 10 June, so I'm in short mode. The last impulse move to the upside was quite steep, so a deep correction is possible, and FIBO 50/61.8 levels could be tested (marked with gray - correction zone / FIBO 38.2 already done).
Target Zone 1 was calculated by the correction of the correction on H4 and its FIBO 161.8...