Been triggered into a pending order i had set for this, a little bit of a sharp move into it which was not ideal but will see how it plays out.
The trend is up and price formed a CwH pattern and has broken the resistant level, at this stage it is looking like a bit of a fake out happened.
Will see how this plays out on Monday, i want to see price push back up...
WOA has just had a push up from a basing structure, it is now having its first pullback from the move out of the base.
Setting a pending buy order of the break of this correction.
Larger structure may be suggesting that this is a completion of a 4th wave and looking for a 5th
I'm seeing a possible 3rd wave move up, it seems to of completed a larger ABC corrective structure with a 1-2 wave from the C low.
I have set an early entry at 3.13, i want to see a sharp move up for evidence of a 3rd wave. If we do not get a sharp price move up the i will review this entry.
At 0.6819 price will hit the 0.786% retracement level from wave 1, its here we could see a price rejection and a move to the upside.
A move above 0.6974 will indicate the completion of wave 2.
Price needs to remain above 0.6777 for the bias to the upside to stay intact.
Price on the daily and 4 hour are under all major EMA's, price on the 1 hour is currently fighting against minor support
Once price has broken this minor support i will enter the trade and aiming for around 0.8465
I will update the trade as we go, markets are still a bit quite into the new year. Use proper risk management.
The CAD/CHF has been trading in a channel, price is underneath all major EMA's on the weekly, daily and 4 hour time frames.
Currently price is trying to break minor support, once this point is broken we can enter the trade and target 0.74172 as the first target. Once this target is hit we can the take partial profit and look for further continuation.
EUR/NZD is in a nice downwards trend, we can see on the daily chart the price has closed under the 200EMA (Blue) indicating the path of least resistance is now to the downside. On the 4 hour we are having some price consolidation. once price breaks the consolidation we can trade this down to the trend line at 1.68500.
I will update this trade once it becomes...
We should defiantly be looking at short opportunities in bitcoin, as can see from the charts we are in clear downwards trend.
We have had a big push to the downside from 9000 and bitcoin has pull back up to the 0.5 fib level, as can be seen on the daily chart this is a nice pull back into the 21EMA which is a good sign, price like to be nice and close to this EMA...
CAD looking strong and JPY looking weak!
Price has broken B wave on the 4 hour pushing to the upside, we are just waiting fot the 8EMA to catch up on the daily before pushing price up to the next resistance level at 82.934
Bitcoin is at a critical level now.
We had a break to the downside on the daily with an ABC pullback formation, the 50ema is looking to cross the 200ema causing a death cross.
If Bitcoin breaks B wave at 7600 will could fall down to 6000
The cup with handle pattern:
As can be seen from the chart, price forms "U" shape forming the cup of the pattern, price comes back up and touches the same level on the left hand side.
Price then accumulates forming the handle to the cup, this is the most important part. this is can be shown as an complex pullback.
Once the pullback part of the handle is...
If bitcoin falls below 8000 we will quickly see this drop back down to 7700
I will be setting a sell order on the break of B wave on the 4 hour chart, trade will only be active if this price is broken.
We can see the 4hour forming an inverted cup with handle, as mentioned wait for the break of B wave to enter and set target to 7700
We can see on the weekly...
If price breaks above B wave then enter trade long up to resistance.
Price is in an ABC pullback as can be seen, we want confirmation that price will continue up, this confirmation is the break of B wave, however needs to watch price as we can see if struggling on the weekly 200ema.
Be patient and wait for the break
Price has broken through the daily trend line breaking the anchor on the daily.
Price is now pulling back to the 0.618 fib level on the 4H which is the buy zone.
Looks like this will line up perfectly with the 20ema which has been well respected as well as testing the broken trend line.
Good long opportunity up to the next resistance level
I like the idea of price coming up to 1.238, then i think we will see a rejection from this level with a continue short.
Daily and weekly both in a down trend, I see a good 4h counter trend move up to 1.238 and then as mentioned before a rejection from this level with a good short opportunity
GBP/NZD is trying to break its resistance.
Forming a CUP pattern on the weekly pushing against resistance at 1.9144
Daily shows an igniting rising 3 pattern, this being a good bullish sign.
The 4H is currently in an ABC pullback.
RSI Bullish across all time frames.
Will enter this trade at the break of resistance.
Entry - 1.9415
Target 1 - 1.95606