Key word right now that I want you to keep in mind - Inflationary.
Why? That's the period we are going through, when this occurs you can tell metals rise, check out copper, gold, platinum ...the list is endless...! I can go on about various other instruments too. We could even go back to 60/70's Want to know further in depth what happened then - message me...
Price has been very bullish, price is slowly starting to creep into a significant level of resistance. In this area I'm expecting price to react in a bearish downwards spiral before we expect break through this support and continue further to the upside.
Taking Long position as a long term trade:
Impulse Wave 5 of Elliot Wave Pattern started
Fibonnacci Retracement shows pricing bouncing from 0.64243 level
Expecting price to reach pre COVID-19 levels based on strengthening NZ economic climate and ease of lockdown
Divergence can be found in the hourly chart further more a heads a shoulder pattern is made. This can be an indication of trend change, I'm expecting price to decline to the previous major support 4 hourly and then break it for trend continuation.
Here on Swiss Yen we have broken an ascending channel but that isn't a main factor here: we have also formed a descending channel as we broke out correctively. Two likely scenarios are that price rallies to create a double top before selling off, or price disregards the descending channel and just continues the move to the downside.
I think that the price will have a short-term correction move, will touch the TL, and move back up.
There is a huge divergence on MACD and RSI that leads me to think that the long term (D) resistance breakout will happen very soon!
We are currently waiting for the bears to push down below the resistance line. Once done I would recommend placing a sell order as the trend lines indicate USD/JPY is already heading downwards. Remember this is a Semi long term trade so you want the best entry so wait till the bulls push down below resistance, Patience is 🔑
Trade smart, Trade safe
If you would...
I am expecting a long outcome from GU this week possibly to the 1.26000 target. I think this will fall bearish temporarily to consolidate and correct itself prior to the long movements and the bullish swing should continue that is shown on the hourly time frame. If the support level is surpassed around 1.22000, I will be expecting a bearish push to the downside as...
interesting observations on btcoins price history.
--Bitcoin (blx coin) on 1W timeframe--
-aproxx every 53 bars, or 370 days before each block halving, the price finds a bottom:
(eg: oct/nov2011, june2015, and more recently march 2019 and march 2020)
Price coils inside the fractal trendlines (red and purple flag formation on 1W tf), then breaks out on/around the...
I am not one to ignore extremes. I have never been interested in the "number of touches". This mindset has helped me with creating slightly more conservative plays that bear less risk and I often question the motives of those who draw trendlines and channels while adjusting them to suit their analyses (in a sense, to make them more "right").
I have had a few ask...
After are few weeks seeing a pull back by the bulls by 20%, In late April a push down to nearly 30% to corrective levels by the bears to me seems to be arising and then this should be the bottom before we clime to 4000 level.
Sorry If my English is Sh*t.