Overall, price is currently sitting at the top bound of a channel. However, zoomed into hourly, price has created an ascending flag/channel which will break towards the downside.
Target is based on confluence of Fibonacci Cluster (retracement and extension) + aligned with previous structure
Option A price correctively moves to the upside slightly breaking the High and then Retracing.
Option B Price Rejects off the Double Top and drops.
I am only looking for selling opportunities due to the HTF Structure.
Here we see two options;
1) a Long opportunity using the Ascending Triangle Pattern.
Here we will wait for an upward break back into the support line.
We then anticipate a rally up towards .72800 and prepare our entry and exit strategy.
2) a Short opportunity using the Double Top strategy.
Price retests resistance line twice but is rejected back to...
1 hour bearish pin bar has engulfed prior candle to confirm a double top at a level that was previously used as support and is also confluent with the resistance trendline of a rising channel within a larger rising channel. 4 hour RSI is also showing strong divergence. This all tells me that we could be about to see gold make a large move downwards.
From analysis, there is an ascending channel pattern formed along with bearish RSI divergence. Good indication that the market is running out of steam and bears could take over soon. On top of this, we have a cypher completion aswell. Price has come up to test previous resistance level. We can shoot for the 38.2% retracement for targets and place a stop loss ...
Several triangle breakouts in the past and a ascending trading channel are in place to several months now on Litecoin.
We are still located at the lower levels of these indicators and therefor a perfect spot to take positions. Break outside the bullish trading channe will acellerate the upward momentum rapidly. Based on historical date litecoin should climb a...
weak divergence on 1H XBT USD,
Possible decline to 6625 USD area before bounce up from bleu lower trendline part of the strong ascending trade channel in place since early September.
In case of a breach of lower trendline we could see lows of max 6300 USD. A breach of 6300 could increase downward momentum.
This can be our final retracement before we break 7900...
GBP/USD 4H Chart: Channel Up
The British Pound is advancing against the American Dollar simultaneously in senior and junior ascending channels, where the latter represents a rebound of the currency exchange rate from the lower trend-line of the dominant formation.
In the last hours of Monday’s trading session the pair made a second rebound from the bottom...
The GOLD market has moved north since second half of December last year. These increases are significantly less dynamic than previous falls, initiated by results of last year’s presidential elections in the United States and are moving within a growth channel.
Although, as a result of the last growth impulse, at the beginning of June this year market for the...
GOLD market since second half of December moves north. These increases are significantly less dynamic than previous declines which began in result of last year’s presidential elections in the United States and are trapped within bullish channel edges.
Although, as a result of the last growth impulse, at the beginning of June this year pair for the first time in...
Moves inside of growth channel has been running since April 2016. USDCAD reached its high on May 5th at 1.3793, and this time it failed to test upper limit of the uptrend channel due to resistance on 1.3750 which triggered faster rebound. The target of current downward movement is the lower limit of growth channel which is located at 1.3220 level. Additionally in...
So far even with the ETF, with the scalability problems and everything else, bitcoin has shown a remarkable resistance. Basically it keeps growing from August 2015 inside an Exponential Channel.
The channel has a doubling time of 260 days. Which means that as long as the bitcoins are inside you are doubling your money in 9 months. Except that if you buy when it...