FX:AUDJPY, OANDA:AUDJPY, FOREXCOM:AUDJPY, SAXO:AUDJPY
AUDJPY is potentially setting up for a corrective move higher over the short to medium term.
Weekly: The price has fallen to a significant 61.8% Fibonacci support level. This has held on several occasions dating back to 2009, below here there have been a few reaction lows towards 71.94. There are some early...
As you all know Bitcoin dropped ~84% from 20k all the way down to 3k. In the past few months Bitcoin has been painting a bottoming pattern: the failure swing bottom from Dow's theory. I see that absolutely no one talks about this pattern, instead I just see people who talk about an ABC correction that will bring us to new lows, like 2k or even 1k, which in my...
I developed an indicator, the Saracino Bitcoin Momentum Index (SBMX). On the monthly chart it has been a reliable indicator of a bottom in the past bear markets and right now it is giving a bottom signal for 2018/2019 bear market.
I officially call the bottom.
BTC will test lows at around 3200 dependant on exchange, possible play for a higher low but that seems to obvious...
Looking for a fake out to the downside with a wick hitting around $2984 on the exchange Bitmex, but around 3k is the bottom for most exchanges then a move to test 6k (previous market structure).
Rally from Jan 17 to Jan 18, now a 61.8 % fib retracement of that. March 15 and Dec 16, double bottom plus positive divergence RSI and price (i.e. lower price but RSI nog making new low). In Elliot wave terms could be Jan 17 to Jan 18 Wave 1, retrace to 61.8 % wave 2 and now wave 3 unfolding.
This should be evident fairly quickly
If not then something else is...
The euro is trading back towards the psychological 1.1500 level against the US dollar after sellers failed to hold price below critical support on Monday. The EURUSD pair may have formed a bullish double-bottom pattern, hinting that price could now start to correct higher. Intraday buyers need to move price above the 1.1553 resistance level, while sellers will...
In short, looks like bottom is in (white lines), bullish reversal from lower lows to higher lows (green lines), still stuck under descending trend-line (red line).
BTC still needs to make higher highs, a break above descending trend-line could lead to this.
Daily chart showing BITTREX:BTCUSDT approaching the bottom of the parallel channel and more importantly, the Weekly bear trend it left back in April.
Should bottom of the channel break then there is a good chance of us returning to the overall downward trend that start at beginning of the year.
ABCD harmonic, psychologically significant price, in reversal territory between .618 and .786 retracements and previous resistance/support zone indicates that the $5000 region is a strong contender for the reversal zone of this sell-off.
This is not investment advice. My analyses are frequently wrong.
Don't usual dabble with commodities or metals but this looks like a potential trade to go short.
The triangle formation shows a massive reversal of the uptrend plus the double bottom has been formed and continued on with a big short bar.
Made a helathy profit following this pairs bullish uptrend, but the pair sold off on the 2-Aug, probably due to profit taking at 9.6000. Price has retraced back to the Fib 28% level and formed a perfect rounded bottom on the 1hr chart.
I actually spotted this trade at 9.4855 but decided to wait for confirmation that price had broken the Daily 8EMA resistance....