Several important things converge on UK Oil price (on weekly chart) creating probabilities for the south on most lower time frames:
1. Original Grade A ATR switch for the south.
2. Bullish rebellion into a near 61.8% Fib
3. Weak squeeze momentum rebellion (so far).
4. Horizontal zone of congestion near recent price.
5. VMA resistance level.
Note that VMA and...
AUDJPY is in a critical zone on the 3D time frame. This is one to get ready to short, on a lower time frame. Price is struggling in the congestion zone, which contains a heavy bearish investor sentiment. This does not mean price is bound to head south. It means that the probability estimate from this time frame is for the south. For every probability in one...
I see AUDNZD near a critical ATR trend indicator position, just above an 'investor zone' and in a critical congestion zone. The probability is usually for the south in this situation. This is not a prediction.
As this is at the end of long trend south. If it moves south at all - I do not expect much travel south before rebellions north. Price sometimes rises...
Horizontal wedge patterns are not easy. Some people believe they will break up at the top of trend, while others believe the opposite. All one can do if shoring is take a reasonable stop-loss to include the potential for spikes and false breakouts for the north.
Base on higher time frame analysis I favour the south, but this is not a recommendation to short.
In this shorter screencast I give three reasons why I come to an opinion that Bitcoin may surprise. This is not encouragement for traders to take long positions. Whatever traders do, please ensure that stoplosses are truly acceptable. No gambling please.
Will resistance be respected or ?
- Major bullish engulfing candles in the mix.
- EMA's look like they may cross soon indicating a change of trend.
The next candle close could tell us what we need to know.
AUDUSD is spotted on 4 time frames. Importantly the big bearish pressure comes from the weekly.
1. There is some slight weakening of the bullish rebellion on the weekly and daily.
2. With the big wave of bear pressure visible on the weekly, I estimate a 51% probability to the down side on the daily.
3. The bulls may not be allowed much more wriggle-room on 4...