Upon analysing every degree, something was common. And it was that the next wave is upwards. The fashion or the type of wave it is going to create is not that important to me just yet, as I am aware that it is forming an impulse wave overall in the 1 Hr time frame. I believe in the 1 hr, it is completing its second wave and entering into a strong third wave, and...
impulsed down from 3 touch ascending, bear flag continuation to head lower. filtered o the 15M set order on the break of the mini ascending within the flag, just got triggered in so i'm live in this position. no no BS here lets see how it plays out
broke the daily double top then price retraced instead of heading for the outer structure, currently creating a bear flag to head lower looking for the 3rd touch of the flag before entering short. if we trickle to the 3rd touch of the flag then risk entry and if this trade commits ill be looking to hod it long term at leas t to the low of the pattern
3 touch expanding continuation, ascending within ascending, risk entry anticipating the next impulsive phase. if i wasn't in another trade i would set the order as it is but it is what it is. also we are approaching daily close time where the spreads are high.
I've tried my best to analyse this chart as much as i can so all of you, no matter of your trading ability, can understand 💯
So what i used was the Fibonacci Retracement tool to give me a good support and resistance line to use as i noticed there was strong impulses (Strong moves) going up then once after the impulses a retracement (Pull back) was occurring...
a clear 3 touch large bear flag. on the 3rd touch we impulsed down and created a bear flag continuation, which can be seen more clearly on the 15M chart, set order below the mini bear flag after we created the second bottom of the flag. move to break even once we impulsed away and are about 1% in profit
Impulse, impulse, impulse formation.
Look at the pattern- this is the text book impulse north.
And it only has began - we are now experiencing the beginning of the 3rd short term wave,
which consists out of smaller(inner) 1-2-3-4-5 impulse.
This promises an unbelievable growth 8000+.
7250 is now the most decisive region(7200-7300).
If bulls protect this level...
Overlooking the entire chart data we have on XRP, we can see that the largest impulsive price movements are found every 261 days on average, indicating that end of January/Start of February may show another large impulse to the upside.
Following a decent impulse to the upside on the 60 and not a conflicting bias on from the daily as that is consolidating, I believe price can go higher if not to a retest of the highs too. Came into a minor level of support with fairly safe stop placement. A quick potential day trade which I am involved in.
daily chart shows audjpy has bounced off weekly trendline, price than made an ascending triangle but failed to break to the upside and did the opposite. Price was selling off instead, made a correctional move after impulse kicked in and broke through minor support which has now become minor resistance.
Waiting on price to retest resistance for confirmation that...
overall move for eurusd is bearish with blue trendline respecting price on the weekly.
on the daily I see price reaching D resistance zone (green), diving deeper into the 1hr, I see price created this upward channel with price now reaching d resistance zone.
on the 15min, price created a bearish flag pattern, waiting for price to break out and continue moving...