nahidik

nahidik

I am a Bitcoin fam and firmly believe it is the way forward. That being said there are some technicals the lead to the possibility of a new local low or even bear low before the big bull run. On the weekly chart we have a downward ABC pattern that if completes would bring us new lows possibly 12k area. on the daily we appear to be forming a head and shoulders with...

nahidik Updated 

I was looking for a little more of a pullback but all indicators are showing this push has a way to go before slowing down. A small bullish flag on the hourly would give me a strong buy signal. We may get resistance with another pullback but not as likely as a push through the resistance. I will start looking for signs of reversing at about 1.32.

nahidik Updated 

Things are normalizing after Bexit and the GBP is looking somewhat resilient against all currencies . We are in a wait and see mode. As per the chart if the pullback is steep and impulsive we could be in a sharp ABC down move or perhaps an ABCDE move all the way back to the upper daily pattern line. If the pullback is shallow we may have another down move deeper...

nahidik Updated 

We have an area of great confluence not far above current pricing. If we get there it may be a lower risk higher reward short trade. weekly trend line, daily pattern, 4 hour pattern, 1 hour pattern. "e" wave of a 5 wave 4 hr pattern. 1.618 extension of 3 impulses. Price could break down before we reach this level. I will look for a strong 4 hr candle to break...

nahidik Updated 

On the HTF this pair has wanted to drop for quite some time. I am holding with my prediction of it hitting the .382 on the daily correction which is about 1.333. Of course there is no guaranty it will get there or stop there. The daily is in correction and when it does break down we can expect to see 1.20 I am looking for a break of the blue 4 hr trend line with a...

nahidik Updated 

We are in a corrective channel now and looking for a break to the upside. A strong break of a 4 hr candle followed by a small correction and I will trade the break of the correction or flag. If price continues down the channel look for opportunities and bull signs in the PRZ.

nahidik

Although many top traders are looking for big longs here. I am not so convinced that we are ready for that ride. There is a lot of indications we may have some more down before the big move up. I will hold my long term Yen until I see a clear indication that this HTF "B" wave is over. I suggest looking for bull signals in the .96 - .90 range. I welcome your...

nahidik Updated 

All primary pairs and commodities are reflected by the DXY. Price has been dropping steadily and needs to start showing some slowing in momentum. I think we have some more down the potential for another move up. Look left and there is no areas of support until about 94.5 on the LTF. I am a strong believer in trend lines so look for a reversal or bounce at the...

nahidik Updated 

Indicators are saying we should be looking for a shorting opportunity soon. A strong break of the 4 hr (blue) TL will give us a good opportunity. (see my break out rules link below) Likewise if price gets up to the daily and weekly TL (green and orange) look for a reversal there. If a strong break of these lines occurs with a shallow pullback look for a long to...

nahidik Updated 

Gold has retreated back to an old daily pattern line (green dotted) where it took a bounce. It is also hovering around the weekly (orange) trend line which it broke recently. Strong daily and 4 hr support are just below current price with 4 hr resistance just above. Nothing is giving me a buy indication yet as the upside is not to great. It may bounce down off 4...

nahidik Updated 

I heard support and resistance does not work. I decided to show just how wrong that is. This is an over simplification of S&R and I use a number of other indicators to create winning trades. However if all you did was follow the simple instructions you will see S&R certainly does work. In fact if you look at most of my charts I draw boxes where I see S&R. It is...

nahidik Updated 

I apologize in advance to all who want a nice clean chart. For me to explain how I get to where I am I need props. So here we go. We are in a w-x-y correction that is showing no divergence at all so we can expect another down move complete the -x-z waves once we have an up move and crossover on the AO. We have only retraced a little past the .38 fib and I would...

nahidik Updated 

We may have bottomed and a higher time frame correction is about to start. I will look for a strong breakout above both 1 hr TL and hopefully above the daily TL. If price re-enters the buy zone I will take the long from there. As this is the end of a HTF "A" wave it will be counter trend so watch for shorting ops above the 7550 mark.

nahidik Updated 

Looking for a shorting opportunity. A little different than normal. Price must enter the 1 hr resistance zone to the trigger line before the trade becomes active. That means the entry will be if price action breaks down out of the zone. I will use my beak out rules in link below. If price blows through the zone remove the trade. If price breaks the 1 hr TL look to...

nahidik Updated 

I can still see oil dropping waaaaay down if we keep producing more than we are using and the world economy continues to slow. On this time frame I am watching momentum shift and if not for the oil news this morning we would probably have seen some upward movement. I will trade a break of the string break of the 4 hr (blue) TL using my breakout rules (link to...

nahidik Updated 

The 4 hr move is looking corrective for the most part on the bigger picture. There was a strong impulsive move up and the AO is indicating momentum is still strong. I am suggesting a possible pullback to the green daily trend line and then a another strong impulsive move for the X-Z or a more shallow correction indicating a break of the daily trend line and more...

nahidik Updated 

We have completed a 5 wave move up with a LTF wave down. The HTF is for more up but there is an opportunity to grap some pips here. If price pulls back to .618 I will take the short to retest the pivot low to the 11.8 extension. The unfilled gap is of concern as it has had very little penetration and may be a strong support level. Watch for a break of the gap and...

nahidik Updated 

We are in a correction looking to break out. I am suspecting a little more down before a move up to break the blue trend line. If price drops below the last low 79.045 I will draw a trend line 80.453 pivot and trade a break out of that LTF TL. If price drops back to the .50 near the green daily TL I will watch carefully for a bull signal. (a higher risk...