Got into powr last night as it was forming a symmetrical triangle with the trend line. Sure enough a breakout happened overnight but it did not quite reach my sell target. It has no retraced and touched the 50% on fibs. Hoping for a bounce here up to my take profit target of 6447.
After the recent GDP growth disappointment, I believe the market has priced in the news adequately. A correction is due on the sell-off, which is confirmed by the technical indicators in the chart. Most obvious is the support trendline analysis, coupled with the Fibonacci level, which combines to give solid support. However, the bounce is expected to be...
A sequence of 4 up days ended yesterday. New 3 week highs were posted in Asia but the latter part of the day saw USDCAD consolidate in a narrow range at overbought extremes. The net result was only minor movement and this price action does not create strong signals for sentiment going into Wednesday. However, the undertone continues to be assessed as positive and...
Now we see the return of bulls (but for a long time? :)). First(impulse) wave is forming.
The RSI points to the overbought market, indicating that the correction is approaching.
Probable level of of correction (by Fibonacci) is 9700. Then will decrease to 9000, or 8500.
After its completion, and with the continuation of growth, we get the formed pattern "inverted...
My current thoughts and trade plan on BTCUSD (Bitfinex). All feedback welcome!
A small short opportunity may be upcoming, as BTC is about to reach a level that is:
- Long term 0.236 Fibonacci extension level
- Short term 0.618 Fibonacci retracement level
- 200 MA (close)
- Previous support (now resistance?)
BTCUSD (Bitfinex) is about to reach a potential...
In line with yesterday's outlook this week's decline from 22 month highs deepened. An attempt to renew buying it from the 13 day mvg avg was limited by Wednesday’s Marabuzo line. Failure at the crucial point translated into fresh downside that accelerated in the latter part of the day. Intraday signals for sentiment are approaching oversold extremes but while this...
Upon my calculations, using the below techniques I'm estimating an important impulsive movement, which likely will be UP direction, and should happens on 05.05.2018.
-ROC crossing MA.
-2 x Fibonacci trend zone. Minimums and maximums appoints both to the same date!
-ESCGO by Lazzy Bear indicators. Helps locating price cycles in time.