Bitcoin has found some resistance. The longer term outlook is still to the downside how low no one really knows. If this this turns into a corrective wave C price action could fall to the lows of 2018 or just breaking the lows. Then will we can shoot for the moon and all have Lamborghinis.
Dxy opens with a gap down. Good news for the short. We will likely see the price hit the bottom of this structure likely a consolidation period somewhere in between. When we get down there I will possibly be looking for a buy.
Good location to buy gbp/usd price is towards bottom of descending channel. If price breaks under channel could become pivot point and continue downwards. I will further analyze if price hits top of channel
So the fed decided to lower rates quarter percent. Of course there was a reaction now that things have settled let analyze what happened. Price action thrusted out of rising channel and within two trading days has fallen back into structure. Failed moves equal swift moves in the opposite direction. If it holds true we will see bottom of structure touched and...
2014 we had a thrust down in the euro (wave A) then we have been in consolidation for quite some time (wave B) now I am looking for another thrust down. I am going to short now 1/4 position as a feeler will add when more information comes. first goal to the bottom of the channel.