Flag, pennant or wha'everrr.. this thing is pressure cooking to boil north!
No guarantees. This is based on experience of these positions.
Whilst the probability looks favourable for the north, note carefully that there is a residual probability for the south.
WARNING: New and unskilled traders are advised to avoid this instrument. No guarantees supplied....
The weekend is quiet, Bitcoin is not trending and remains in the triangle.
Probably tomorrow there will be more action.
Nobody can say, where the price will go to.
If the chart will break downwards, i see a possible support zone at 6050 USD.
Even lower prices are possible.
For many big investors it could be the last time to buy BTC that cheap.
So be prepared...
Look at where bitcoin's abc correction ended earlier today. It reversed from the point where the 1.618 extension of the b wave and the pitchfork trendline coincided, marked by the green circle. The market is responding to these overlays. Keep an eye on these levels over the next few days.
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Everytime EURUSD touched the downtrend line, it keeps bouncing back. It has happened 4 times in the recent past on H4. One or two more time, the pair is likely to violate this trendline and commence another impulsive wave to the upside. However, the sentiment could change bearish if the uptrend line is broken and price can keep going down...
EURCAD (1H) – intraday bearish bias
The euro came under pressure following a double top formation near 1.4710 on the 4H chart. More sellers joined the pullback as the price broke the 1.4630 support along with a bearish MA cross. A trendline has been established as a strong resistance, and the immediate target can be found at 1.4590.
The SET index went up above 1750 to ~1760 but then closed below 1750 on the same day. This 1750 is significant as it is the current 61.8% fibonacci retracement on the downtrend pattern.
Daily chart now showing a doji price action and assuming the current rebound from 1600 is a B wave, I am expecting a sell-off for today (the 20th Sep).
Gold (Spot) - Intraday - We look to Buy at 1504 (stop at 1494)
The medium term bias remains bullish. 2 positive daily performances in succession. The overnight rally has been sold into and there is scope for further bearish pressure going into this morning. Last week Marabuzo is located at 1503. Bespoke support is located at 1504. Although the anticipated move...
Quick update on GBP pairs.
It's rallied into some key resistance levels on my charts. This could potentially signify exhaustion and lead to speculative selling/profit-taking in the very short term.
Keep a watch on the formation of this daily candle, if it posts some kind of inverted hammer or outside day, then I may look to sell some GBP pairs next week in...
Based on recent price action and a clearer parabolic picture, I've revised my estimate upwards from $30,000 in two years to $50,000 in two years. Nothing in this post is a prediction.
Traders should be very very very careful with this instrument. High volatility is...
Easy script that give you to find low points in much more effective way ,so it very good to find entry
exit can be by fibs , pivot or take profit system etc
but the hardest thing in a trade is to locate where the low is found
so using this special rsi +mtf system of no repaint it more easy to detect it
Used with Pearson Correlation. It can be used to make sense of the trends. Very successful results can be obtained with a MACD style indicator and volume indicator that gives Buy and Sell orders.Open for adaptive and mutable variable periods of moving averages. Best regards!
This is an example of a perfect day trade taken based on my day trading strategy.
- Multiple confluences and rules all confirmed
- Reward:Risk ratio is over 2:1
- Quick Profit
- Minimal Drawdown
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A quick overview of my current position on GBPUSD.
Looking at GBP on the whole, I think there is the possibility for more upside and continued momentum.
(Here is the code for the basket I use GBPAUD*GBPCAD*GBPCHF*GBPJPY*GBPNZD*GBPUSD*GBPEUR)
GBPUSD still looks good to me but it looks like we are about to see a consolidation/correction in the very short...