I can see that BTC has bottomed out a bit here. It is now a trading range.
Which warrants me to buy the lows and look for range highs.
Are we going to head toward the 40,000 mark?
Lets find out
ps: if you're into Elliott Wave this is the C down of the B down. so the C up should take us to 40K level
I can see that the dollar yen is a mild up trend
It had good few months of uptrend earlier but for the past few weeks its making new highs and higher lows but not quite as strong as before
I see that price is near the lower channel (trend line) and middle of the Keltner channels. I see a good possibility of price going up to test the swing highs
Quick 10 Sec Elliott Wave Analysis | wave 5 down or C of 4 Up?
There is a pattern I like to call the B Trap.
We know that Wave C's can be naughty. Wave C has a character of being spiky and harsh.
A Wave B is often, made of ABC waves. Sometimes, the C of B pokes out above/below Wave A of the B.
Visualize it here. This would be in "technical analysis" terms,...
Looks like the Yens are set to drop. EURJPY is strongly going up, GBPJPY is going up, Showing that Yens are weak.
On the USD/JPY, we are seeing some movement upwards.
Meanwhile, The Dollar's weakness is halting a bit.
On the daily chart, we see the price has hit the upper line of the wedge/channel formation but the pullback on h4 still looks ripe for longs....
Yesterdays' candle is what we call the Trend candle right?
This is a strong bullish candle that happened as a result of some positive News or something like that.
Could it have exhausted some bulls? Not sure but the way to trade a Trend Candle within a Trend is to time an entry on a pullback. This can be done either on the same time frame or if you wnat to get...
Bitcoin - A classic pullback Short ? A Bear Flag or just a point of confusion?
Could it go down here
Are the ones long from the bottom now in mood of selling ?
Are those people who did not get out at the bottom feeling relieved they can have slightly lower loss?
Are they finally giving up?
The eurodollar EURUSD has lost steam on the way up.
I shorted the highs earlier but got out at the low. That was a swing trade that I cut short.
Now I feel I need to short this on the D1 chart with Stop Loss above the Highs
What do you think?
The Pound seems to be in a trading range on the daily and the four hourly chart
The highs have plenty of highs and the lows, well, a double bottom.
If I sell the highs here at the Sunday open, my SL will be just 50 pips but profit potential is higher.
Selling the Pound.
It appears to be some sort of a channel or a Wedge
Connecting those two trend lines on the H4 Chart (four-hourly time frame) leads to what can be interpreted as either a Bull Flag on the Daily chart or a Falling Wege on the H4 time frame.
In either case, we can be bullish on the EUR/USD if it breaks above the channel.
I can see that the pound yen $GBPJPY GBP/JPY is either in a Trading Range or within a trading range it is showing a bear flag.
Will it continue up and join EJ and UJ in its rally up or will it go down with pound?
I am selling the Dow here because I think its a sideways range.
We had some great fun selling the highs and buying the lows on the m5 chart last week
Will that fun continue today?
Sold it here
Time Frmae H1
Lets see what happens.