there can be two outcomes to this one it could hit the bottom S/R and go to the top or rise all the way up to the resistance and break through or bounce back.
I have two scenarios in the works on EURAUD and this is their description. I am not in any position yet, but I will be searching for a good entry to long.
There might be an opportunity for a little short as well, until we have a good opportunity for a proper long position.
We now stopped in the shorter-term channel at the bottom and we have two options. I am in favour of more downtrend.
That is why I setup a second entry as sell stop.
I also have a great position from the top of the channel in a short position. I can collect my profits if the trend reverses and price bounces.
I had a nice opportunity to enter at the reentry into this big bullish channel and currently I am running nice profit.
There are two resistances ahead and some more if we go all the way to the red channel, red upper line is visible in this graph.
I will edit my TPs accordingly to price action.
We are in a downtrend within a larger uptrend channel, there is still plenty of room to go down a little. We need to wait for price action around the bearish upper trend line.
Beginner at trading so dont take my word for it. Looks like a reverse head and shoulders forming, enter after pullback then will hold out until TP2. TP3 will hold will smaller lot size as it may not be reached because of the previous 2 H&S being lower than each other.
From the previous two historical cycles we have seen within the Bitcoin market we have seen the market price drop:
1st -68% over 7 days
2nd -51% over 14 days - where the market rode up then fell back down to the -51%
Currently the cycle is in the falling phase globally however this consolidation period will be closely watched by traders and oscillations will...
Looking at all three runs within Bitcoin so far, these have increased in the following order:
1st +1727%
2nd +1412%
3rd +2657%
The upper and lower bounds should be taken into consideration for the next bull runs.
It may well be the case that the next bull run exceeds these limits due to mass market adoption.
At this current time Bitcoin has seen an...
Based on a hypothetical point in the cycle called 'Current Period' on the above chart, what would happen if we plotted the same behaviours (percentage increase and duration) from the last two cycles.
Firstly I would pick a beginning point to define the start of the bull run, termed 'Estimated Start' in the above chart.
I would then plot the % increase with the...
Looking into the trend behaviours for large sized duration (1 year) we can see that in January 2013 there was some interest in the bitcoin market for the first time with early-early adopters showing a bull run with the low volumes that were present.
The first bull run rose +1727% over 89 days. Due to the non-linear behaviour, this cannot be averaged into per day...
The beginning of the cryptocurrency is indicative of a long tail where at a large global outlook (5 years) the trend seams to be fairly steady with no major variations. This is before a cryptocurrency has been extremely exposed to interest from a large audience.
The length of the tail shows that the cryptocurrency has been established for a long period and can...
Note: This is a beginner's analysis. Harmonic patter on cable that I spotted. Harmonic completed perfectly and now its going the other way. Looking for it to break the first resistance in blue and then the golden one around 1.2500
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