Sorry for my lack of terminology. Touching 1.618 extension and upper bound of trend line. Watch for strong rejction and flag for sell setup
Indicators are showing divergence which supports this explanation of structure.
I closed my shorts from today with nice profits. I thought this was the big move but now i believe there is more to go after reviewing the charts. The structure shows a strong down move to .382(marked by green lines) i think this is happening again now and we will have one more move up to the red line (.618 fibo) ...
Bitcoin has been taking its sweet time. I think we are at the point of bull heaven. This latest consolidation looks like a triangle kinda pattern. I think the e wave will be a false breakout to the lower trend line.. This will bump RSI to oversold which should wakeup those bots
google is in a corrective wave structure with three drives(not confirmed)
Reasons for buy @ 695-715
strong reversal zone in structure
3 drive 1.61 extension
reversal zone lies at key .786 fibb level
RSI oversold area also seems like it would correspond with this move
MACD about to make another bearish cross to ...
NZDUSD has fallen for a week straight.I think it will bounce
DXY reached key resistance level,,expecting dxy to fall
Strong resistance at neck line making tiight stop and good RR
bull divergence forming
Alright so last night i close my short positions at BE I was expecting a wedge then drop but it broke to the top. Now this seems like its going to turn around.. I dont have any positions open but if i get another leg up I will definitely enter.
Alright so this is a trade ive just finished filling I bought from 687-711
I like the odds on this one and I think it will be a big winner.
Fundamentals- D trump =prez yuan more devaluation india is experiencing a huge increase in btc demand
Technical-Bitcoin has been in a long term uptrend for many year ...
So I was looking at the long term gold graph
Some things I noticed:
Head and shoulders on local top
Head reaches to FIb .382 level
Trend line Is acting as resistance
(Maybe doesnt have to do with gold) SPX Crushed today and if this is the start of an up impulse I could see a corresponding down impulse in gold
This is a jornal of my ideas. I am learning and not a profressional so take this with a grain of salt.
I see a corrective ABC wave structure and i believe we are in the middle of a bearish impulse leg. I have placed my limits at 46.15 and 46.25 the retracement level is a trend line/.386 fib level/shoulder ...
Well Im new at this but bitcoin seems to be making a longterm cup and handle. It got a lot of resistance at the last high but I believe market outlook is still bullish. Not too familiar with wave trading but the last sell off looks like an impulse leg. There is an obvious flag forming and i don't see enough bullish ...