a. 1.3850 to 1.40 marks a zone that was the floor for prices in 2016.
b. Cycles of 60 Days has been a consistent predictor the past year, we are in the cycle peak zone.
c. The RSI is at extremes and previously at this level (see Oct-16) GBPUSD pulled back 3%.
Today i'm visiting my favorite Forex pair to look at and discuss a very long term Elliott Wave count that it appears to have formed. It appears as if in early 2008, a 5th wave completed as a high. From there the market has been clearly corrective, ultimately going sideways. A Zig-zag completed into mid 2015 and from there we have seen a sharp move to the upside....
Ripple XRPBTC has been rallying upward and hitting the next resistance zone, which is also visible on the weekly chart.
IF today is closing as a pin bar,
THEN this might be a sell opportunity
Resistance: 8010 – 9010 µ
Support: 5533 - 6921 µ
Do you remember when this exact same thing happened before?
Bar pattern is LTCBTC weekly from BTC-e in 2013, chart is recent Bittrex price action.
Immediately after this happened the first time, the new money-doublers (who make sure to tell all their friends about litecoin gainz) went to barely functioning Cryptsy and lost everything to Wolong trading a picture of...
I don't think it makes sense to use normal TA on Bitcoin because it cannot be compared to any asset... except itself, so I've overlayed the early 2013 bubble (daily candles) on the current run (weekly). We'll peak on CME futures and then an exchange CEO will get kidnapped or something. I don't know. Nobody does. Good luck.
Still long as of my last linked trade:
I already forgot this gap down since the last British referendum. Succeeding gap due to flash crash was filled immediately.
However, this June 2016 gap was the longest gap I've seen (to my recollection) in FX market before it was filled.
Purely coincidental trajectory line of 19 degree peaks, based on previous sharp rises of 77 degrees and dips of 19 degrees. Only based on two distinct S curves, if these S curves were to continue at the same rate and magnitude, you end up with a steady 19 degree increase into 2018 and beyond. It means the latest sharp rise may not have bucked this 19 degree trend,...
I once saw a cycle chart by @lowstrife (twitter) on BTC that seems to still be for the most part valid today even. I decided to play around with ETHUSD chart and found that ETH has rallied twice around 27 December. I made mine on the 3D chart. Each cycle is around 122 bars. If this is true it may be possible for ETH to dip one more time despite the bull flag at...
Obviously very early days but RSI on the 1m and 5m are climbing and hopefully the 5, 15, 30, etc should follow suit. If they do then we're back into the overall bull trend, hopefully for 4-5 days. Thoughts?
I should have been able to work out that one of the larger bulls needed some rest before pressing on (supported by a line of much larger bulls than itself stood right behind it). I'm learning...just really slowly! A really nice opportunity missed but at least I am starting to understand them as opportunity, i'm not panicking and most importantly i'm learning...a lot!
Long opportunities for AUDUSD, need one confirmation when the price retraces (Will update if the trade is not valid)
The technical analysis is reinforced with fundamental analysis, (Anticipation of a reversal of the commodity/commodity currencies bear market which was the longest since 1950)