EURUSD has been under significant pressure lately due to US dollar strength and unfavourable prices of the Euro for the European member countries. It is now formed a falling wedge pattern and it is only getting tighter before breakout. We also have triple bullish divergence on the 1h RSi, I believe some short term relief is coming before we head won lower.
EURGBP creating a falling wedge. Wait for a clear impulse up and then enter on retest. Loads of room to move!
See example on the chart as to what I'm anticipating.
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Lets talk about bitcoin and some possible scenarios.
Scenario nr . 1 that this correction is forming a descending triangle (white lines) . When forming such triangles, price tend to break to the down side, but we know that we are in a major uptrend so breakdown shouldn't last long. It might touch fib ration of .5 (26k) before resuming to it's...
Price has broken out of the falling wedge pattern, looking for a retest of the previous trend line for momentum to continue to push this pair higher. Horizontal lines are taken off the weekly timeframe.
This an additional update on the DXY Bullish 3 dives pattern I posted several weeks ago; It would seem that Not only has DXY Bounced from the PCZ of the 3 dives pattern but has also broken a it's equidistant channel and has broken out of a falling wedge visible only on the daily and weekly charts with triple MACD Daily Bullish Divergence!
I'll leave all my...
We have encountered a break of the falling wedge but more importantly, we are seeing signs of a structure shift on the 4-hour time frame. I will be waiting patiently for the price to pullback into the key zone marked and show signs of rejection before considering my long position. This looks like a fantastic setup to take advantage of today.
COT Data - 49% Long
This setup is currently looking very tidy indeed.
NFP appears to have given us a very nice break of this falling wedge pattern. We have already seen a near perfect retrace to the pattern top, but with the current volatility and indecisive nature of USD pairs, i wouldn't be completely surprised if we were to see another pullback, the purple box indicates my area...
ETHUSD 15M. I like to zoom in from time to time. On the 15M we are forming a descending wedge to the ascending trend line which forms part of the ascending triangle. I am watching to see if this breaks out from the falling wedge here to the upside. Some reasonable support to be found too. Looking bullish but I am as often the case waiting for confirmation.
BTCUSD 15M. Zoomed in here a bit to see what sort of pattern is being created by BTC price action. I see with my little eye a falling wedge pattern. But, I thin this will be a funnel to let BTC fall to support at 10800 and then to around 10300.
There was a clear downtrend on USDCAD which may have broken out, thus confirming there is potential for a bull run to occur to the above mentioned take profit level.
*NOT FINANCIAL ADVISE* MERELY AN OPINION.
Evidently there has been a breakout of a channel which could allow for a potential long trade with a good R:R. Also there seems to be a bearish engulfing candle on the 4 hour time frame at a supposedly strong zone, but unlike previous rejections at that zone, the momentum to the down side is not as strong which may be confirming the bullish bias.
GU Has been forming a falling wedge since the 12th December 2019 and price is now retesting the bottom of the trend line which has been tested and rejected multiple times. On the daily time frame, the pair has been in a corrective phase for numerous months now and could now potentially break out of the falling wedge and continue impulsing to the up...
After a gruelling 2019 cannabis space seems to be breaking out of the falling wedge pattern. CRON has a nice tight flat base and breakout of falling wedge with volume accumulation clues the past few weeks. Could be an indication for bull run to come in 2020!
Falling wedge on GBPJPY Weekly TF.
With Boris forcing Brexit through - dragging the GBP down
And with Trumps impeachment - Also dragging USD down But taking the JPY up
May see a huge drop here.
This will be a swing trade where you could be holding this trade anywhere from 2 weeks to 8 weeks
Ideal entry is around 143.143.700
Large SL in...
Gold is forming a bullish falling wedge on the daily and close to the season where gold is often bullish from December - February, I'm still bullish on the metal. A price fall to 1417 (circa) will be closely watched for price rejection and long entry...