Ethereum has an extended run up with no corrective wave.
Ascending wedge forming with price contracting, logically there should be a break to the downside from here - I have marked the highest level of resistance.
I will set a pending order here (risking 1-3%) and I will just hold this position for years. I think Crypto assets, like the S&P500, will just...
Price residing back down at our long term range support level. We've seen CHF bulls sitting at this level providing some resurgence so far today.
Are we going to see a break to the downside this week and price continue to fall?
Will we see further downside movement on this pair?
We saw a break of structure last week after price tagged the top of our ascending channel around a key long term level in the market. Will we see price cycle down to the bottom of previous structure?
This pair indicates strength vs strength in the forex markets at the moment. Want to know what this means? Drop...
Currently at the top of long term ranges - fakeout to the upside followed by bearish pressure in the markets, potential break of short term structure potentially indicating further downside movement for this pair?
Bears continue to take control of this market as price breaks to the downside. Could we see a retest of previous support before further movement to the downside?
We forecasted a break to the downside because it was in line with our HTF directional bias on the pair. For more - just drop me a private message!
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On this pair we can see price trading in a range, potentially heading lower to test the support zone of our range. This week we could see a break to the downside in line with my longer term directional bias.
Price currently residing below 1.37 after a break above and break back under our whole level.
Are we going to see more downside movement during the week?
Or will price continue to test the upside?
Remember this pair is very fundamental - keep an eye on the news surrounding both currencies!
We can see price has now reversed - we expected dollar strength and this is what we're continuing to see through London this morning. Lets see how price develops on the pair through New York in around 4 hours time.
Identify key trends, key breaks, key structure levels. We're expecting more downside movement on the pair.
Happy Trading! Hope you all have a great...
I'm posting this idea so I have a record of my ideas and hopefully start a discussion. This is not to be blindly followed or taken as investment advice... please please please DYOR!
Line of Thinking:
We are forming a potential Head & Shoulders pattern on the 4hr. We are currently moving down forming the right side of the right shoulder after having a failed IH&S...
USDJPY has just managed to withstand the DXY upside quite substantially and looks like it could continue to fall from this point. 106 was the original target, however I think 105.500 would be more suited due to the location of the fibonacci support zone.
Further downside is possible for this pair after resistance was identified. Furthermore, looking at the fibonacci resistance fan, the price has fallen out of it's main upside trend as highlighted in red and is falling through the different fan lines. Support may be found at the 107.00 region, however it will likely be stronger at the 106 / 105 levels.