After losing 67% from all time highs. The stock is showing promising potential for reversal.
Inverse H&S pattern with divergence and a clean break of the down trend line. Now just above the 200SMA.
1st target is to close the gap.
No confirmation yet but possibly could see this head and shoulders pattern play out in the lower time frame. On the daily/weekly I am bullish and this setup which would bring the price of ETH down to $136 would lead me right into my buy zone. $134-$136.
Still no confirmation yet this I just an idea so j will keep you updated. Thanks
initial trade with smaller position is ideal when 1.9050 level will be broken then starts to accumulate position at 1.8830 and add more if the price breaks 1.8565.
my long term bias is short on this pair.
From the last article posted about EURUSD. Hourly price seems to be forming a head and shoulders with the right shoulder having formed a double top right on the 50% bearish fib with a descending trend line acting as resistance. Only putting in a small stop loss as price could still go long as stated in the last article. Intraday target will be the duplication of...
AUD/USD is at a monthly demand zone, there are numerous traps enticing retail traders to short. E.g. bouncing off the weekly trend line, and a so called area of resistance on the daily.
COT data also shows banks are becoming slightly bullish and reducing short positions.
Don't short basically.
same bias for a buy setup remains the same on CADJPY, however have spotted a nice head and shoulder pattern on the daily. I'm simply awaiting for price to fall lower down to 81.61 and we be on the lookout for a buy opportunity up to the 84 area - can see price possibly heading lower as from a technical standpoint we've created a bearish engulfing candle on the...