All the notes are on the graphs above
Here I give an insight to past levels and where we could be heading if a breakout occurs.
As we made a 44% move from $6412 to $9190 we see on RSI that its quickly making higher highs indicating that the bulls have exhausted their push up. We refer to this as convergence. Another strong signal is when we take the top of $10572 and the low $6412 and put a fibonacci on it, we see a 61.8 retrace which is $8983 which price has moved to $9190 bringing it...
Entry at 9022 38.2 TP - 8940 61.8 TP - 8890
Butterfly setup 1HR EURJPY DYOR I am not a financial advisor, these ideas are for my own purposes.
As the description says. Look to go long and put stop a few pips below 0.7888.
Since $6000 we have seen higher highs and lows. The bullish sentiment is obvious. Upon doing fibonacci extensions we are seeing atleast at 61.8 extension all the way to 100% in some cases.
Here I analyse some past key levels and an entry on breakout
Wait for 61.8 pull back Wait for it to touch 200 day moving average Wait for cross over on MACD Another thing to note is one of the CME futures contracts expires on the 26th January. Expect a pump after this!
I expect a 61.8 retracement so a buy around $7600 is the way to go here
A setup for a short position on this cypher pattern entry - 0.7220 t1 - 0.7157 t2 - 0.7134 sl - 0.7260 Good luck
A wild gartley has appeared! RSI shows divergence and oversold which adds more power to the signal T1 - 0.7170 T2 - 0.7203 SL - 0.7076 GL!
Waiting for this retrace to execute the trade t1 - 1.3072 t2 - 1.3043 sl - 1.3154 Good luck!
Setup for a cypher t1 - 1.7517 t2 - 1.7457 sl - 1.7693