Price shot back into my descending channel , do you think it will break to the upside , i have been avoiding trading any pound pairs lately, however is this recovery long term or short term ?
i stick to what i see on the chart , maybe some fundamental analysis would say otherwise, it would be interesting to get a different perspective.
Price seems to be rejecting higher levels. Price has been hovering over the 61.8% fib retracement level of the previous wave and so I am looking to see a push to the downside.
All TP levels are of 61.8% nature.
- Descending triangle chart pattern has formed in the higher timeframes and price seems to be respecting the channel.
LTC/BTC pair shows bullish signals.
Breaking out of a descending channel we were in for the last couple of months,
While in that channel MACD daily gave strong bullish diverge signals.
If price manages to stay above 0.007 BTC it will head towards higher levels .
Taking profits out at 0.5 fibo from 0.012171 high to 0.006061 low which is at 0.009084 BTC and...
Following the big moves in euro after yesterdays european central bank meeting and the Euro spiking higher on lower than expected levels of Quantative easing being announced. The move higher has taken Euro Cad to the upper levels of the descending channel as per our trading view chart work. This coincides with extreme overbought levels on...
BTC holds the 10000 USDT mark though there are no buyers to boost the price on higher levels . It seems though from the chart that we will have to go higher for price to prepare on going deeper on lower lows territory as any attempt from sellers the last week only resulted on strong bounce back above 10000 every time we touched bellow that ,creating a bullish...
We are taking a look at Aussie dollar versus US dollar on our trading view channel today. We have taken the daily chart to show the support level the market has found dating back to January flash crash as well as the descending channel we have been trading in for many months now. We are looking for a bounce from this support area at 0.675 area up...
audusd is in this descending channel for some time now. Price made a sub channel within the main channel and broke out.
waiting on price to retest the sub channel so I can possibly looks for short entries.
Waking up to Thursday morning ECB day with a great short setup in British Pound versus Australian dollar. What we have is a descending channel being touched at the same time as the pair meets a resistance level to the upside around the psychological price point of 1.79. Compounding the trade is that as this is occuring the pair is reaching...
Looking to go short US dollar versus Swiss Franc as the pair tap the descending trendline that has held since April and is highlighted in our trading view chart . The re tap again yesterday coincides with reaching overbought levels on stochastics. Given the market has been challenging recently we have have waited for confirmation of a cross over...
Symbol: Bitcoin , BTCUSD , XBTUSD
Context: Descending Channel
Indicator: 9 Seasons Rainbow Multiple Time Frames Pattern
Charting Timeframe: 15m - 11H
Green->Red on 15m-30m + Yellow on 1H - 2H + Green Context
Yellow -> Red on 15m--1H + Red or Yellow Context
Green -> Red on 15m - 1H + Red or Yellow Context
Zone near upper border of the...
Looking at EUR/USD on the D1 Timeframe, from a technical analysis stand point the market is currently ranging within a descending channel, making new lower highs and new lower lows.
I see the market moving as a bullish retracement making new lower high being made on the 23.6 fibonacci level. This is confirmed from the strong bullish pin bar signal after touching...
Very simple market structure here. The daily time frame shows the market in a bearish trend. With an impluse, a correction to the upside then continuation to the downside.
There has been 3 days of multiple rejections in the descending channel and has now created a bearish shooting star, suggesting a strong move towards the downside.
Watch the comments as I will...
As you can see we have upward trend with a series of higher highs and high lower being squeezed and forming a wedge.
Then price makes a lower low at 0.94990. This is a change in market structure, so we can assume price is now in a downward trend.
Price has then pulled back to a resistance area around 0.9025 to create a lower high giving more confirmation to a...
Overall I think we're still in for some selling pressure down to the 80.50 - 81.00 region.
We're seeing some really clean price action after a break of the 83.00 handle, with price making lower highs and lower lows.
The EMA Waves throughout the higher and lower timeframes are aligned.
If this does play out it'd form a 3 drives pattern, which I have seen...
Price is in a descending channel with price consolidating for a brief moment.
on the lower timeframe, price seems to have created basic support and resistance zones/levels which any trader can capitalise on. Waiting for breakout to confirm bearish bias.