Here's a detailed analysis of XRP on the hourly chart.
We clearly had five waves up ( 5 minor waves = 1 major wave up), then we saw an ABC type of correction (major wave 2 = correction). Next seemed like we are about to begin the start of the major wave 3, however, that's failed.
In order to attempt to form a major wave, we have to see another ABC correction. ...
BTC looks to be in the middle of forming an inverted head and shoulders on the daily timeframe. The drive it needs could come from the iH&S being formed on the 4HR https://uk.tradingview.com/chart/BTCUSD/IBRfsOIQ-BTCUSD-4HR-iH-S/
Think we'll be going down to 8k-7.8k USD before the big push to 11.7K in which the iH&S will be comfirmed and then be expected to ...
Put my annotations on here for fun, I do not trade bitcoin.
Couple scenarios if you got time...
1. Price moves above the major trendline and the 11800 resistance (Feb20), would be more bullish.. then soon after, overhead is the 12750 resistance, if price breaks above both of those areas theres nothing until 17200.
2. Price falls back below 9300 support area and ...
Continuation Buys in order on GBPCAD as we saw GBPUSD push higher and close above the key level of 1.3300. Looking for short term short positions from the resistance zones back into the support zone for a continuation long trade.
Remember guys, keep it simple!
As you can see from the AUDUSD chart it is hugging the daily trendline tight. If it breaks and it is not a fakeout, buy that Aussie to the top! If it respects the trendline, wait, be patient and when the time comes it's time to short.
This doesn't work every time, but it can be a clear signal that the direction of any pair may be ...
Got into this earlier in the week. Note the large Bullish candle breaking and closing above the significant resistance, and then a smaller Bullish engulfing rejecting the other side of this level as support. Reward, as always, is 2 to 1.
Similar to EURJPY. Currently at a resistance level, so watch for some candlestick patterns to form here. Failing this, we may head up to the higher resistance area, take out the stop orders from trader's holding sell positions and then maybe get some Bearish evidence to get short.
1.Support broken Resistance validated
2.Weekly trend line validated (major validation)
3.Opposing level breached by short sellers (major validation)
4.Profit margin 1:2
Could see price Potentially move down to £59.90*
resistance seen @ £61.80 need to break £61.80 without any major retracements
1.Support broken resistance validated
2.Trendline broken on daily timeframe
3.Opposing level breached by short sellers (109.000-broken)
4.Profit margin 1:7
5.Strong rally up to sell zone
1.Trenline break on daily
2.Weekly timeframe changed sentiment (short) weekly downtrend
3.Break of opposing level on 4hr
4.Profit margin (1:4)
5.If price action shows signs of reversal than we exit trade otherwise we hold until all major support lines/zones are broken
after a dead calm Monday, we're now ready for the intense week ahead. Here's what i'm going to look attentively over the next week, very nice setup on the daily chart. RSI Divergence, with an Engulfing and a psychological number at a previous Structure level. This could be a reversal: bus as you may know from my previous analysis, i usually get my entries ...
After hitting a significantly strong resistance it has come down to support level one and broken it. We aim to hit support level two in a couple of days!
Make sure your risk management is in check!
Very good opportunity!
i've decided to use two different charts so that you can understand my process of reasoning. On the left hand side of your screen there's the daily chart on EURJPY and the uptrend is crystal-clear. However, we know that price usually doesn't move straight up or down, instead it creates retracements along the way. So this is obviously a counter trend ...
as you can see in this chart price has already broken and closed above the last structure level looking left. What does it tell us? It tells that the trend is confirmed bullish and therefore we're going to look for trading opportunities only in that side.
As always, we don't want to chase price action, instead we wait for it to come in our comfortable ...
Gold in a possible downtrend after recent uptrend. Price has rejected the 200sma for the second time in the bearish zone. I expect price to each 1240. We'll then watch how price reacts at this level, could potentially fall to 1220 and lower.