Bitcoin has been showing some strength of late and is currently holding at the 50% retracement of the previous move, but the fact that it failed to reach the previous high is bearish. Won't be surprised to see it fall back to the 8450 level again
50% pullback of the previous move into a nice level of support. Candle structure over the last few candles is bullish so hopefully we're moving higher from here. A fall in the traditional sentiment on Monday might derail this though
Daily is trending down with plenty of room to next level of support & the 4hr timeframe is showing strong bearish momentum.
Wait for a pullback into the 50% retracement level and then a momentum candle back in the direction of the trend before entering the trade.
TP at the 1.618 Fib level.
Nice short sell setting up on 1hr AUDJPY . Daily shows continuation of the downtrend while 4hr has good momentum with fanning MA's and price moving down nicely.
Enter on 1hr pullback into old support (now resistance) at 73.232 with nothing significant in the way for 200 pips.
AUDCHF is an almost identical setup. I wouldn't take both though as they're...
$9000 is the 50% retracement level of the previous move and (according to Dow theory) is a likely bounce area for the next move higher. The 1.618 fib extension is a common extended move from the 50% retracement level and take a look where that is ----- smack on the old high, a logical place for the next move to stall for a while. Let's see how it plays...
Solid downtrend has ended with a bullish engulfer at a level of support indicating the potential for a trend reversal.
Go long on break of the bullish engulfer.
Sell 1/2 at TP1 - first level of resistance
Move stop to entry level
Sell remainder at TP2 - second resistance level
Cancel trade if it hasn't triggered before tomorrow's candle