WE ARE FORMING AN ELLIOT WAVE ON BITCOIN
WE HAVE JUST HIT THE 61.8 MARK ON FIB LEVEL AND A RESISTANCE HAS BEEN SHOWN
WE HAVE BROKE THE BEARISH TRENDLINE THEREFORE I AM ONLY FOR BUY TRADES
I WILL WAIT FOR A PULLBACK AT THE NUMBER (4) LEVEL ON THE ELLIOT WAVE WHICH ACTS AS PREVIOUS RESISTANCE LEVEL, WHICH SHOULD TURN INTO A NEW SUPPORT LEVEL
FROM THE 4145.00...
Quick pullback trade to the daily Fib 0.618 level marked on the chart.
4hr bullish TL broken and retested.
Daily timeframe candlesticks closing bearish .
Price is rejecting the 1.6750 resistance zone .
Here is my simple set up on EURJPY for this week if we see a pullback. This may not happen if Euro strength / JPY weakness continues but if there is a pullback then this is my ideal entry.
- Bullish TL now broken.
- Retest of this TL
- Higher low to be made using previous resistance as support @ 125.600
- 4hr bullish TL (higher lows) is intersecting this area...
After the successful short trade on gold last month I am now looking to short the precious metal again at the $1308 level.
Price has made a lower high and is now approaching the descending trendline along with the Fib 0.618 level at $1308.
Stop Loss is placed around 50 pips above entry with a profit target at the Fib 1.27 extension level around $1270
After being stopped out at breakeven on my last EURUAD trade I am now looking for a second entry.
The bearish 4hr trendline has been broken and today a higher high was made on the 4hr. I am now looking for a long trade on the next higher low to take advantage of this new trend.
All analysis is marked on the chart and my entry is going to be around 1.57650 if...
GBPJPY has reached a daily/4hr support at the Fib 0.618 retracement level. We have multiple bullish wick rejection candles closed at this level and it is looking good for a new push to the upside.
Profit Target is at the Fib 27% extension and then previous highs at 148.500
Stop Loss I have placed below the wick rejection of the 0.618 fib level
Here is my analysis for EURUSD. I am looking to go long at this region for the following reasons.
1) Price is now at the weekly Fib 0.618 level
2) Price is rejecting the 1.12 key support zone
3) Technically a 4hr higher high was made so this could be a higher low and therefore trend reversal
Stop Loss is around 40 pips to leave it below previous lows through...
GBPUSD Long opportunity by utilising the weekend gap down on open.
The rest of the analysis for a long bias is the bullish trendline, fib 0.618 retracement and the structure zone at this level on the chart.
Stop loss = 50pips
I will move my stop loss to breakeven when the gap is closed.
Simple trend continuation trade on CHFJPY.
Higher lows and bullish trendline with price now rejecting the Fibonacci 0.618 retracement level and TL.
Higher lows showing bullish momentum is still present so there is potential for CHFJPY to now break the resistance level at 112.00 and make a new higher high.
Stop Loss is at 30 pips to leave it below the 0.786
Here we have a simple 4hr trend continuation trade on GJ.
Price has made higher highs and lows on the 4hr timeframe and has now broken a descending bearish trendline. I will be looking to go long on the next 4hr higher low which lines up with a trendline bounce.
Fib 0.618 lines up with both trendlines intersecting so this could be a high probability set up....
NZDJPY Short set up after last weeks lovely bearish action.
4hr bullish trendline broken.
4hr lower low made last week.
I am shorting on the retest of broken trendline, multiple rejections of the Fib 0.618 level and lower high forming.
SL comfortably above 0.786 Fib
Short trade set up with good R:R ratio and it should also provide scale in opportunities when the 4hr trendline is broken.
Entry 1 is on the Friday daily close with a large wick rejection candle.
Entry 2 is on the 1hr lower high and rejection of previous support/resistance zone at 79.200
Targeting previous daily/weekly lows at 77.500 if the 4hr trendline breaks.
EURJPY short trade set up based on the 4hr and daily timeframe analysis.
- Daily chart made a lower high last week and is now pulling back to the 0.61 Fib level.
- Price has rejected the daily 50ema from below
- 4hr price is stalling at 125.500 key level
Targeting new lows on the daily and 4hr around 122.800
Simple bearish W pattern trade on USDCAD.
Price is rejecting this 4hr resistance zone and the fib 0.5 level has been respected. Nice wick candles forming to show this level is holding quite a few short orders.
I am targeting the Fib extension level down around the 1.32 key support zone.
I will manage this trade accordingly and move to risk free when bearish...
Simple 4hr trend continuation on the GBPUSD FX currency pair. This is similar to the set up on GJ I have already shared.
Weekly/Daily Bullish trendline has been respected with a bounce.
4hr timeframe is making new higher highs and higher lows. I looking to enter long on the bounce off the 4hr bullish TL and Fib 0.618 level as the overlap.
I will be targeting...