USCAD has been in a descending wedge and is being squeezed. As we're anticipating CAD weakness, could this be the start of a a bullish run for USDCAD?
We could potentially be seeing a double bottom happening now. I would wait for a break of the wedge before considering longs. Until then, I'll be sitting on the sidelines as it would be wise to wait for...
Reasons I took this trade:
- Double bottom formed on the larger timeframe / Bounce of strong resistance.
- Pair is oversold on many timeframes.
- Tight stop loss / Good R:R (Risk:Reward Ratio)
- Strong BULLISH candle on 1h timeframe ( Piercing Line Pattern & Possible Bullish Hammer )
- MACD crossover
Entry : 11.44453 (roughly)
Stop Loss: 11.39150
We can see a triple bottom on this real estate company and developer. Potential buy opportunity once the descending trend started 04/06 is violated. The company was growing and showing solid fundamentals in pre-covid period, earnings release next week.
Always keep in mind it is a game of probabilities.
Clues: Trendline breakthrough, 50 ema crosses the 200, tweezer bottoms on weekly TF, W formation.
We are at level 1 expecting level 2 to form this week. Look out the news for GBP this week!
Note: Please do YOUR OWN analysis before you enter any trade!
Good luck fellow traders ...!!
After are few weeks seeing a pull back by the bulls by 20%, In late April a push down to nearly 30% to corrective levels by the bears to me seems to be arising and then this should be the bottom before we clime to 4000 level.
Sorry If my English is Sh*t.
Bitcoin historically loves prominent double bottom patterns on the Daily/Weekly timeframes before going on to rally.
Considering the current market outlook with CORVID 19 being a catalyst for an economic downturn across the board, I would not expect Bitcoin to simply move back into a bullish rally before establishing a low with an accumulation phase.
Silver may not be part of our currency, but it is still money. In fact, silver, along with gold, is the ultimate form of money, because it can’t be created out of thin air (and thus depreciated) like paper or digital forms. And by real money, we do mean physical silver—not ETFs or certificates or futures contracts. Those are paper investments, which don’t carry...
Large Upward Movement Due on XRPUSD Chart
As shown in the weekly chart, XRP has seen a large upward movement an average of every 259 days with 280 days being the longest period betwen large movement. We have now reached the the point of average days in between which means a large impulsuve move should be due within the next 20 days if history rhymes. We have...
As you can see by indicators, BTC is going to hit 5k before bear market will end. Real consolidation only going to happen now, when BTC is going to stay between price range of 6000 to 7300 based on heavy resistances around.
Litecoin has been following the down triangle and is now being met with resistance at the 0.007000 - 0.007100 range.
As we can see there is starting to be a swing back to the upside starting.
On the 3hr chart we are looking for the reversal back to the upside.
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...
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...