Bitcoin has been consolidating for a few days, now trying a breakout to the upside. 16 being tested, next target --> 17k --> 20k (all time high)
#USDJPY (1H): The USD rally cause by the vaccine news looks like it might continue. A pennat is currently being broken to the upside, which signals that further bullish pressure is going to come. However, we are approaching a strong resistance, as well as the 200 EMA. If we have a cross of both, my bias will change to bullish. For now i'm just watching.
#XAUUSD (GOLD): (1D): The uptrend has resumed, thanks to technicals and also fundamentals, with Biden victory that resulted in a weaker USD. Technically, the falling wedge break and retest played out as expected, also forming a HL double bottom, which gives a high probability for further upside movement. However, after such a move, we want to see a...
#USDJPY: (1D): As expected, the downtrend continued to the downside, finally breaking the descending triangle after ranging in it since June. What we need now is a retest of it. Fundamentally, the sell off is to be addressed to Biden winning, which means more fiscal stimulus for the US and a freer approach to trade. This results in a weaker domestic...
#EURCAD: (1D): Last swing low confirmed that the triangle was actually a falling wedge, which converged with the 200 EMA, still confirming the overall uptrend. Here fundamental role plays around OIL prices. With Biden victory, we might see covid restrictions implemented, with a decrease of transports. This would mean falling oil prices (currently...
#EURUSD: (1D): Technically speaking, we saw the price respecting the uptrend, holding above the 200 EMA as a confirmation. We are also seeing a broken flag to the upside, preceded by a double bottom. Fundamentally (current market mover), Biden election sentiment is reflected in the last rally. The main reason being Democrats' foreign policy more permissive,...
#XAUUSD (Gold) (1H): The large indecision of the past days is reflected on the chart, forming a triangle, which is now being broken to the upside. This could be a good opportunity for a medium term buy position if the retest + rejection of previous high will occur.
Bullish flag formed aligned with bullish bias. Next target 15k psychological level
Last period of consolidation led to a triangle right below 14k level, which is now being broken with strong upside momentum. If this holds, next target will be around 16k (look left). Expecting large volatility around US election, trade safe and protect your capital first.
#XAUUSD (GOLD): This is the only setup i'm interested in today. We saw the price falling all the way back to retest the daily trendline and now forming a symmetrical triangle right above it. What i'm waiting for now is a break and retest of previous high with a strong rejection candle to the upside Target 1905
#EURUSD (1H): We have an interesting possible buy setup here. If you check the 4H and daily, you will see that overall, the price is still making HHs and HLs, also forming an ascending pattern. Zooming in the 1H we can see that after breaking support (now resistance), the price came back immediately and started ranging in a small flag. If the price will manage...
#USDJPY (4H): Yesterday the price started pushing to the downside but a wider view revealed a possible bearish flag forming. Also, we saw the price getting rejected from the 50% fib level (psychological). Currently the price is trying to fakeout the third lower trendline touch, which could lead to another retest of the sell area
#EURUSD (1H): Currently, we are in front of a decent triangle which is showing overall indecision in the market. What we can notice is the last leg to the downside that formed a small flag (blue), which was broken to the upside. If we can get a close above the area under retest, i will consider a buy trade
#USDJPY: (1D): Exactly as expected, we saw the price dropping all the way to the descending triangle bottom. The move was so strong that we could not jump in a trade though. The downtrend is still confirmed, since the price is still holding below the 200 EMA. (4H): Here we could see how the strong dropped led the way with no retest, which is what we could...
Now that we saw a break of 13k, the price has been consolidating for a few days. The consolidation form, which is a pennat, is giving hints of further bullish run, following the current trend. I wouldn't be surprised to see Bitcoin at 14k after a break of this. If we get past that level of resistance, 20k will be on the horizon.
As mentioned in previous idea, gold was aligning for an upside move, which is currently occurring right after the retest of the broken ascending triangle. - Target: top of H4 ascending channel, daily trend following trade (1955)
(1H): The price here turned out to be trading in a corrective structure to the upside, which was eventually broken to the downside, following the overall trend direction. This is a nice potential opportunity for us as we are now waiting for the retest of its previous swing low. If we get a nice bearish rejection from there, i will be entering a sell position....
The price here is aligning up with the overall trend direction (bullish) and also the ascending channel formed on 4H. A break and retest if what is needed before a trade can be executed -Next target 1950 (channel top)