BTCUSDT, If it dips, it dips. Correction Plan
Depends on the that 4h candle dated on 14-Sept.
If dumped and dip to ~10.5k,
Plan B would occur to return new higher high at the Gravitational Line
If keeping and not dip below ~10.7k
Plan A to return to new higher high at the upper band of Up Channel.
In a 4h chart, this particular candle is worth estimated $340....
Price has confirmed a higher high, we are now going to sit and be patient until a higher low is formed before going long, preferably out entry would be at the 50 fib level as we have a few confluences here, such as a structure level which price has respected previously, and we will be interacting with the 50EMA. Need to wait for a confirmation candlestick if we do...
Here on the GBPUSD, we can see that price is currently in a descending channel however. I believe price is showing signs of a bullish reversal. price is starting to form a descending wedge pattern and also a gradual loss of volume (consolidation/contraction). In this week commencing, i am looking to see a break above prices previous swing Hi (@1.31800) followed by...
On Thursday 3rd Sept 2020, the DJI did an important about turn on the 1H time frame. Price collapsed 1100 points in one day (not on mid-point pricing). A correction was not unexpected, as many had known that the DJI was heavily overbought. As this is a trend-following set up, you will find no predictions .
However, 1100 points was rather more than expected and...
1) D1 shows Rounding Bottom and highest price capped at around 1.59.
2) Zooming to H4, price respected downtrend channel by bouncing inside the channel, thus creating the "Handle".
3) Demand Zone was marked from previous price (23 Jul 2020).
I expect the price to go back to the demand zone and bounce up, if it break the channel after bouncing from the supply...
Although Yen is losing momentum against other currencies in the past two months, but it's getting stronger against Dollar.
At higher TF, the price currently forming the handle of the cup where we can see the price moves in the channel since Dec 2016.
The price has just broken and retest the structure and now in its initial phase of the 5th Elliot wave.
Corn Wycoff. Painted as distribution, but 50/50 really on reaccumulation and posted because i think its pivotal what happens from here. Cyan line shows how a reaccumulation should look from hereonin with the trademark grind to above previous bottoms without retesting tops.
No trade on this one, but does look decent wycoff overlay stuff, be interesting to see...
Price has finally snapped higher out of the consolidation box pattern it had been stuck in over the three weeks.
The last time price tried to breakout it quickly reversed and created a false break.
The old breakout resistance level looks key. For the breakout to remain a breakout and not a fakeout the old resistance will need to hold as a new support.
NZDCAD(1D) rarely shows a very-sharp ATR switch. There are some interesting features in the price action which create probabilities for the south at this particular time.
I've labelled this a potential short (note disclaimers below). If you short this, you have to be prepared to lose your stop-loss. I do not give advice - so nothing on stop-loss.
This is an update on the daily time frame for gold. Things have changed.
I see some sort of continuation pattern developing creating probability for the upside. Note carefully my disclaimer below.
For every probability estimate in one direction there is always a residual probability for the opposite direction (- this is why we have stop-losses which must...
I would like to share my trade on USOIL today.
Note: Do not take more than 0.5% risk and open two positions as crude oil inventories data release is at 3:30 GMT. If price goes 40 pips in favour move Stops to entry price.
Moving up strongly, may pause at current levels.
It's a riskier asset class as again we're not looking at a slow, steady trend. Gone between 300 to 1400 to 80 in the past few years in a Draupner wave type pattern.
Less historical data gives less support and resistance information so we must rely more on Fibonacci levels. Price is around a significant Fib level...
Price is still in an uptrend
Price Touched the lower trendline
At 15mins chart price created double bottom with long wick rejection
2nd candle taking out first candle
Price crossing 15mins EMA and finding support at previous resistance level
Price at support level which was previous resistance level
Last week, Swiss currency is the strongest of all and we expect it currently in its exhaustive phase in the coming weeks.
We could take this opportunity to capitalize on other currencies.
At weekly TF, CADCHF is trying to make a U-shape pattern and this would be a great opportunity for long with good risk to reward ratio.
This is a long term idea.
- Break and possible retest of bullish trend line
- Recent Double top formation
- Price appears to be making its way to an area of interest between the 0.5 & 0.618 Fib levels (area of support turning into resistance)
- Possible touch of the 50 EMA
I will be waiting for price to retrace further into the area of interest then obviously waiting for...