I hope you all got in on this trade early on as it is going very well so far - as expected price is staying in the channel and making its way up the S/R levels and I am expecting price to keep rising up to around 1.278 before I would look at exiting the trade.
The arrows on the chart mark where I entered my positions on these trades.
The above analysis is my current view on the state of GBPCHF - it seems a short could be in play however I am looking at this with caution as a breakout could be on the cards.
As always will wait for price to move before getting on the move.
Let me know what you think!
To me this looks like the inevitable dump, bitcoin however is known for bucking the trend so its far from guaranteed, just everything in the world at the moment seems to be telling me to go short and yet bitcoin is still not dumping!?!?!?
Watch todays youtube video for more information on this chart!
Bitcoin looks very mixed at the moment but will thew bulls prevail over the bears? the world economy got a boost today, will this be reflected int bitcoins price?
Please Watch my latest video on youtube for more context on this chart
That Martini Guy on YouTube
the theory of this bull pennant is clear. the RSI is overbought, the MACD is looking a little hot, bitcoin will cool off for a couple hours before deciding which way to break.
Recently bitcoin has been bucking the trend and dumping through bullish formations so we shall see how it goes.
Price seems to have broken out above the level of resistance it previously was pushed back from, I am waiting to see price retest this level and turn it into support and from there I will make a decision on whether to enter long with my take profit and the next level of resistance marked on the chart.
The range at the top then turned in to a down trend. The price then went in to a short-term correction before it then dropped rapidly. However, it then met resistance at 90 which was the continuation of the previous downtrend and key support at a level in the past. This has now formed a new short-term uptrend which i believe is a sign of a reversal of the...
An update on EURUSD - previously it had broken out and I had gone long and see in longer term this is going up, price retraced down to the descending trend line and has bounced back up which is what was to be expected however I was worried there for a while as price hung about at the bottom of the channel that had formed.
I am still long and it...
June has been a choppy month for Gold to say the least - with many rallies failing to break through to any substantial levels. We've now broken through a well respected resistance level and tested once, potentially turning this into support. If we can hold this rally our fib retracement shows substantial upside gain, taking the price of Gold to our first target of...
As you can see from the chart price has reached an important support turned resistance level here as well as price approaching the descending trend line which could potentially shape up for a short position.
HOWEVER: We need confirmation of this first because price has entered back into the channel so we need to work out first off whether price is...