Oh yes - gamblers aplenty are punching the air. I have little doubt now that BTC will hit 20,000 (or more) soon. Even 21,000 is possible. This does not mean that it will get there. Price could make a significant correction right now before moving north again.
Almost every time the RSI has hit 90, there has been a sudden and significant correction.
To be clear,...
Based on previous bull cycles approaching the previous ATH, and assuming this one is no different:
I expect a correction, as does everyone on every platform right now, down from the current region. For me, as a risk assessor I would use a 5% aggressive margin of safety from the ATH level - 95% of $19,666 is around $18,666. This is my "close long positions...
There was some kinda flag or pennant in that. It didn't work. The point is that these
formations can fail.
I'm expecting rebellions and more downside on this time frame only.
If you're long on BTC on a daily time frame, what are you doing? You'd need a lot of 'bottle'.
This post does not mean that BTC can't get to 20,000.
A simple, yet powerful 'Break and retest strategy' alongside 'correction' moves make, for me, the best confluence one can have.
Clean naked chart, Market structure and Price Action, baby!
Buy Bias, after break of previous structure low.
As we can see price has correlated since creating this new higher high after a breakout of this descending TL, and we can see that we are on a strong recent support level backing up this idea that we are due a break to the upside with DXY also breaking out of its descending TL and oil still looking weak.
CADCHF- We can see price has broken out of this ascending TL which it was respecting and now made a lower low (potential change of directions) however before entering we need to wait for the 1H close to confirm a lower high has been made. We have a good number of confluences forming here which are, price has retraced up to the 38.2 fib level and 50EMA which is...
Here is my idea on silver .
We have a great opportunity for a C leg.
Make sure you have strict stop losses, mine are: SL: 28.5
Here is take profit targets:
TP 2: 24
TP 3: 23
It’s a high probability trade, so I’m taking profits right at the end $23.
NZDUSD is looking bearish to me, had three touches of a bearish trend line and then dropped heavy, i believe its now in a correction, so if it breaks below i will be looking to take shorts into the daily level i have marked as the black line.
Yep - I missed the parabolic pump and I'm sooo happy!
There could be trouble ahead. Gamblers late in the game go right ahead!
Those gamblers who made their killing could be getting out. You never know.
Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied or implied. Heavy losses can be expected....
Hi guys, happy Tuesday.
A long position is on the cards here for the cable pair. as you can see major trend line resistance has been holding now for quite some time and price cant seem to break it try as though it might.
A minor 15m resistance has started to also form on the 1.30585 area, which is where price is currently hovering.
We took a nice short position...
This week I am expecting price to sell from the 1980 region as a correction to the long term bullish trend . As per the chart we can see a triple top, and technical indicators suggest that a big correction is long over-due. If no extra stimulus packages are announced, I would target 1900 on the H4 time-frame with a potential to go as far as 1850. At this level,...
I can't predict the future, unlike many of my fellow traders. However, I know a bad weather setup when I see one. Have a look/listen.
I don't like what I see. I see storm clouds gathering. I see delusional pumping of a market. I see a deep disconnect between reality and sentiment. I see momentum falling off.
But make no mistake - I do not underestimate the...