on this pair you can see we broke up and out of a weekly lvl @0.91018 ( red dashed line) and we did not see a pull back into test it, the next thing i notice on this daily time frame is if i take a fib from low to high we have 0.618 fib confluence in this zone, we also have atr for today in this area , i want to see price get down there as well as price action and...
Two scenarios for GJ:
1: Price to come down to first level of support on 1h then to push up higher.
2: Price to come down to 4h level of support matching up with 61.8% Fib level then to push up to create a new higher high.
Please use risk management.
Thanks, any comments are helpful.
Following the break of the previous ascending TL, we saw some short term bearish moves,
but failure to close below the 200MA
We have since had higher highs and lows created, forming a new uptrend.
Looking for a pullback and retest of trendline, 0.618 FIB and 50MA before going long
- Pennant chart pattern formed indicating a bullish continuation of trend.
- Wait for confirmation candle
- On the W1 timeframe price is respecting the 61.8% level
- H1 timeframe is showing an uptrend and price retraced within the pennant.
- We are looking for price to break outside of the pennant and retest it before entering the trade
I inserted Fib from highest high to lowest low as you can see on chart. You can see price has REACTED off 618 which considering to be powerful number. Price action has reacted off 61.8 17 times in over 8 years period until it has broken through 61.8 which is support and drifted lower and lower. Now, current price action has almost reached 618 which las saw 61.8...
DAY TRADE - EXPIRES AT 9PM
A bullish reverse Head and Shoulders has formed.
Bespoke support is located at 72.25.
Positive overnight flows lead to an expectation of a firm open this morning.
Dips continue to attract buyers.
Further upside is expected although we prefer to set longs at our bespoke support levels at 72.25, resulting in improved...
WE ARE FORMING AN ELLIOT WAVE ON BITCOIN
WE HAVE JUST HIT THE 61.8 MARK ON FIB LEVEL AND A RESISTANCE HAS BEEN SHOWN
WE HAVE BROKE THE BEARISH TRENDLINE THEREFORE I AM ONLY FOR BUY TRADES
I WILL WAIT FOR A PULLBACK AT THE NUMBER (4) LEVEL ON THE ELLIOT WAVE WHICH ACTS AS PREVIOUS RESISTANCE LEVEL, WHICH SHOULD TURN INTO A NEW SUPPORT LEVEL
FROM THE 4145.00...
- HIT DAILY LEVEL AND SHOWING REJECTION
- OVERALL DESCENDING TRIANGLE WEDGE
- SHOWED SUPPORT AT MONTHLY LEVEL
- HIT FIB LEVEL 61.8% AND THEN SHOWED REJECTION ON THIS MARK
- BAT PATTERN FORMED!
- EMA CROSS OVER
- DOJI CANDLESTICKS FORMED AT TOP OF TREND LINE SUGGESTS TRENDS GETTING WEAKER AND GOOD OPPORTUNITY TO SELL
If structure holds this pair should bounce back from its bullish trend line since the start of last month, and with added confluence of the 61.8 fibonacci level, we should have seen the end of this downwards correction. The bearish momentum of USD/CAD has been overturned since coming out the daily parallel channel and subsequently this pair has been forming higher...