Those who win at the Forex game are those who are able to build on their case to take a trade, whether it be fibonacci, moving average, patterns etc. The more confluence, the better. This is why it is important to always wait for your confluences to line up before taking a trade.
For this particular trade, those who were waiting for the third touch of the upper...
I am expecting to see price to start fall if the price meet the resistance line and should fall to - 1.532 support area. Wait for a clear price action to make entry.
This is great for short/mid term trading, Trade at your own risk.
If the Bitcoin get down to around 20,000 again, it will be good opportunity to buy bitcoin at lowest price before going back up to well over 100,000, This might be your last opportunity to buy the cheapest bitcoin possible
This is my personal view.
As we can see here, there is an enticing level of so called resistance on the daily and the 4 hourly chart. Price has moved away from this area and novice traders have gone short. It is very easy to predict where stop losses will be. Notice the decreasing volume as price shorts away from the "resistance". If the collective amount of people doing the same thing...
Trade war truce has come to carry you home?!
Swing-Lo, Sell Kiwi, China-Us talks will carry you home.
NZD and AUD have thrived in the past weeks on a weak dollar and more business with China, now the Big-Bully is back!! And he wants a big chunk of the cake....or else!!!
The S&P 500 got some ticks on Friday night at trade closure due to that Trump-Xi deal...
Note the following from my 15m chart:
A) Iota is currently in an ascending triangle (uptrend). It is also running out of space and looks like it will break around 4pm EST.
B) The 50 day moving average is currently acting as a support.
C) A cup and handle has formed which is a strong indicator of an up move.
D) The key here is the purple resistance line, it...
- See thumbs up, 5 day MA moves upwards cutting across the 10 day MA. (1st Bull Signal)
- If the 5 & 10 day MA's continue upwards and cross the red 50 day MA (Buy Signal)
- See fib level 0.7 & 0.3 for key price action areas
- Use other fib levels for Stop/Loss & T/P
- 0.786 / Price level: 1310 - 1315
- 0.382 / Price level: 1290 - 1292
See these as key areas for price action, so buy or sell orders could be placed here if the below indicators are fulfilled. Could also use 0.236 & 1 ratios as positions for stops etc
Moving Average 5 Day (GREEN)
- 5 day moving average has cut across the 10 day...