Hello Everybody, here we have the USDOLLAR INDEX on the Weekly chart. Over the past few months we have pretty much just been melting to the downside since making a double top around 12500. Price is now at a very significant level testing both the neckline and a major weekly descending trendline which was broken in March.
We currently have two fibs in...
GBPUSD up trend provides ripe opportunity to try and jump on board the long side of this pair. Hourly chart provides an opportunity to buy dips below the 100 EMA (Amber line) on the 1 hour chart. The trend line drawn (Black line) provides added confirmation of the longer term up trend. Keeping it clean, keeping it simple & looking at the bigger picture! Happy Pip Hunting!
Wow, someone gave VeChain a viagra pill today. If VET makes it across the 23.6% Fibonacci Level on the daily and turns it into support then we could be on out way back up to our yearly high of $0.022990. VET is also back over its Ichimoku Cloud equilibrium zone and back in the bullish zone on the daily chart. The STOCH on the daily is also indicating that VET has...
Let's have a look at $BTC again. BTC is so close to making a new All Time High. If we look at the weekly chart, we can see that at the moment, BTC as found a bit of resistance at the upper Pitchfork Resistance Line. Depending on when BTC breaks through it and depending on when it breaks through it's 100% Fibonacci Resistance Level which is its ATH, then there is a...
ADA is looking really fantastic on the daily chart. ADA is pushing hard on that 78.6% Fibonacci Level and looks like we will also break through the first Pitchfork resistance. We have broken through our Ichimoku Cloud resistance and are now in the bullish zone with quite a bit of distance from our last yearly high. Looks like it could be a good Christmas. Good Luck
DJI came damn close to breaking through that Ichimoku Cloud Support! If it didn't get saved by the support then it quite possibly would've broke through the 200EMA and we would've seen the Conversion Line cross back under the Base Line of the Ichimoku Cloud. If it eventually does, then we'll probably see 25000 again which is around the 38.2% Fibonacci Level on the...
On the daily chart, ADA is finally out of its Ichimoku Cloud equilibrium zone and back in the bullish zone. I would've preferred if it broke out sooner and with a Conversion Line cross over the Base Line above the cloud or at least within the cloud for a medium bullish signal. ADA is a also back above its last yearly high which is now a major support level....
Lets have another look at Bitcoin because as everyone knows, bitcoin's movement effects alts like ADA and LTC ect ect. I'm Just concentrating on longterm weekly chart for this one, obviously if your a day trader or impatient then i suppose this post isn't for you. On the weekly chart, BTC actually looks like its on track to regain all its losses from its downtrend...
Looking to short GC at 1.738 - 1.74 area on 38 fib level and EMA bunch and descending TL.
SL at BE at 50 pips
TP1 - 1.7250
FINAL TP - 1.6860 - 1.6880
Use risk management according to your own strategy.
On the daily chart: SXX gapped down through its 200 EMA, a bearish sign
BUT found support at 23.5 on it's weekly 200 EMA
Stochastic on daily chart is trending down and could result in another decline
Also filling the gap at 31.72 could trigger fresh round of selling.
Let's see what happens.