I’m in a BUY on GBPJPY, reason for this is simply because it’s at the support and is struggling to go any lower at this point... I believe it will go all the way up to its resistance if not higher over the next week or two! Trade smart and good luck!
- Price is near a great supportive zone
- We have a falling wedge pattern that we can get a long position, any time after the break of upper trend line
- The chart is in Log Scale
- Take Profit 1 = 0.0004
- Take Profit 2 = 0.0008
- Take Profit 3 = 0.0014
- Price to retest downtrend and break through purple monthly zone.
- Price to retest the same purple monthly zone as a resistance level
- Waiting for price action confirmation e.g. a bearish engulfing candle close on the 4hr TF, before entering short
- Price to make its way down to lower purple monthly zone.
Here is a potential long position to 0.94000, I believe it is setup to be a good trade, however I wouldn't enter a position until price breaks the 4H resistance.
If you look at this chart on the daily timeframe, you will see that this pair had a large price surge, and then began to create a 'flag formation', however once I dropped it down to the 4H I noticed that...
Long-term Bitcoin analysis using a logarithmic scale. As shown, Bitcoin remains in the long term trend lines set by the top and bottom of the 2014 bear market, if Bitcoin is to remain in these trend lines, it needs to start making an upwards move in early 2019. I have also drawn a few curves that Bitcoin could follow if it is to fall below the trend line.
-We saw the historical 30+ year ascending trendline hold up as resistance after a fakeout spike higher, red 786% & 618% bearish fib levels are prominent & also holding
-Price is now breaking a medium term ascending TL & has retested successfully
-Recent Weekly candle close saw a confirmation of bearish pressure
thus I expect a test of green 618%...
BTCUSD is now approaching the bottom resistance of it's Bull channels, a 5k dip would tally within trend + fractals say we could be approaching a breakout point and a push to further heights. I have also marked dip curves in volume that appear prior to rallies.. thanks to John for reminding me of this long term trend chart..
A clear break above descending trend line would indicate a potential re-test of May highs ($800) where strong resistance sits at around $600 and $700 respectively. If we fail to break descending trend line, will be looking to head towards longer term support from April lows around $380.
Was giving the long term picture some consideration in view of RSI dropping to a level that has held well since Sept 2015. Question is, if you compare with 2014 (which seems to be what everyone else is doing) we can be at either of those points on the purple lines.
If we are indeed heading to $4000 this would represent a much more accelerated pattern within this...
In a few days time we may just see a slow reversal of this down trend to an up trend, and not the V shaped dip people expect to confirm the bottom is in. There isn't much appetite (at the moment) to sell or buy on mass to push the price in either direction, even though it would be very easy with the low volume.
My previous idea is still holding reasonably...
I see a bullish run finished on the next 30 - 40 pips and then we can expect a bearish movement until 110.300.
This could be the formation of our Right shoulder.
Let's wait for candle confirmation to enter a short trade.
Barrick Gold Corp. for a long time . The exchange rate has ended its correction. The correction level is 11.49 usd. From this level, it offers a very good opportunity for a longer-term investment. The movement of the exchange rate is probable on a double wave structure. The first wave (0A) and the second (BC). Currently, the exchange rate moves in the (BC)...