Price is moving according to elliot wave theory, now in wave 4 wich is mostly sideways before making the final impulse wave up to upper trendline of ending 5th wave diagnonal.
Looking for a short opportunity because:
Weekly:
Price retested and is rejected 3 times by prior support turned into resistance.
Price rejected 61.8 fib level.
200 EMA crossing the 21 and 55 EMA.
Daily:
Price broke and retested an ascending triangle.
Bearish engulfing candle close on the retest.
At first it seemed like GOLDUSD was forming a BEARISH descending triangle. After the breakout of this triangle we can see a falling wedge pattern forming wich is BULLISH. This shows again how much cornfirmation is key for trading.
GOLDUSD now broke out of this pattern and is retesting the previous resistance wich now turned into a support level.
Looking for a...
It looks like this chart is forming an descending triangle.
Chart pattern is complete when the break out happens on the downside.
When this happens we have a minimal target as shown in the chart.
BTC decline goes further.
Counting 4 waves of ABC correction based on fibbonaci levels.
Resistance found at .382 fib level, assuming wave 4 is complete and decline goes furter to final wave (5)/C
Next support is .618 fib level.
Looking for divergence and entry of a long position when ABC correction (5) is complete around 7900.
Like I've said before, ZIL performance last few weeks is from another planet.
On the higher timeframes ZIL is highly oversold like the RSI is showing and there for a healthy correction is needed before going up further.
Looking for a buy back in the green box based upon support line and fib levels.
ZIL performance the last few weeks is from another planet. I wouldn't be suprised if we see it reaching $1 at the end of this year.
On the 30M chart we see another bull pennant forming.
A break out to the upside is highly possible.
Always put a stoploss, I've put mine at 1925
AION has been downtrending for the last couple of hours.
On the 2H chart we see that it is NOT making a lower low.
The RSI is showing a HIGHER low.
This is what we call a bullish divergence.
It suggests momentum is turning to the bulls and the price is going up.
MACD has been on the negative side for quite some time and recently crossed on a low point.
Now it is...
On the chart we ee that NCASH IS NOT making higher highs but we see that the RSI IS making higher highs. . Also the on the Histrogram we see it is tikking higher. MACD is crossing on a low point.
This suggest momentum is turning bullish.
ZIL has been performing very well last few weeks and doesn't seem to give anything about BTC direction.
Ascending triangle is forming so we should see a breakout to the upside.
Looking on the charts BTCUSDT seems to have found support.
I'm counting 5 waves have finished correcting.
On the 30M timeframe we see a bullish divergence on the RSII and the Histogram.
Also the MACD is crossing on a low point.
Lets take a position and put our stoploss around 9050.
ENGBTC is looking good on the higher time frames.
Bullish diversion on the RSI and the Histogram
MACD is crossing on a low point.
55 (golden) EMA is crossing the 8,13,21 EMA.
This suggests ENG could see a nice breakout to the upside.
Entry 30167
Stoploss 28200
1 target 31400
2 target 32500
3 target open
