Alternative to yesterdays bearish scenario, watching for the bounce off 200ma 4h which we got, so now watching for invalidation of bullish run. If we drop below 7450 i will revert to yesterdays bearish chart to watch for validation/invalidations at each wave point
The 4-hour death cross on the 13/48 EMA has been a reliable indicator this year as we have just entered one today.
The previous death cross on this time frame has produced a 32% drop over 8 days
The crosses prior to that were 18%, 13% and 5% moved down. All four crosses average out to 17% over 8 days.
You can find this indicator here on TV under 'True Golden...
Rejection of 21 MA. Bearish engulfing candle. SL to break even after 60 pips, at black D1 floor, and take partials letting trade play out to 135 pips.
SL @ 1.22891
Entry @ 1.21542
TP1 @ 1.20192
Partials @ 1.20965 (60 pips)
Rejection of 50 EMA suggests price action will fall to nearest floor after 30 pips, partials should be taken at this point and SL moved to break even if there is a unfavourable reaction, letting trade run for an extra 91 pips after if market sentiment is unchanged as it will likely plummet to next D1 floor until it picks up momentum and begins to bounce off the...
H4 Channel broken to the downside, rejection on inner resistance suggesting bearish potential. Entered at .618 retracement as new lower low has been created suggesting a new downtrend. TP at golden levels.
Entry @ 82.590
TP1 @ 82.152
Looks like Bitcoin is on it's way back down again, Failure to hold this support area 9400-9500 it looks set to trickle down to the 8600 regions.
This is good in some ways, consolidation and retracements are required for further long-term growth. Also allows Alt-coins to breathe.
Be careful going long, deep bear zone right now. Also, be careful going long on...
Lower low indicates continuation to downside with bearish rejection from 21 MA near D1 structure. May push up to meet the 50 EMA or sell stop will be executed entering us into the market.
SL @ 1.89523
Entry @ 1.86616
TP @ 1.83709
Partials @ 1.85167
Looks like Verge (XVG) Is primed for launch. Daily looks good and so does the lower-timeframes (4,6 and 12)
IF Bitcoin behaves itself it could be a good entry. Certainly, as the Bitcoin Dominance is gradually coming down.
Use a stoploss as the % in losses are high with this one on each sat move down.
Bears have been controlling GBP pairs, giving us traders many opportunities for shorts.
Towards the end of the week GBPCAD has pulled back up to a major daily resistance (Yellow Zone) I will now be waiting for price to break this zone 1.63176 to confirm bears I will be then waiting for a retest back up to the zone to finally possibly take a short if price action...
This demonstrates how a 120 / 20 Moving Average configuration can call short entry points against the S&P500.
The same config can also be used to call rally points.
Explanation on the chart.
Crossovers call changes of overall direction.
A great entry on Sunday on the $EURUSD. Take profit targets 1, 2 and 3 already taken out, as well as a completed continuation trade. Still inhaling the crumbs of more continuation trades down. How much further will it go? Down to the recent lows of 1.1800?
If Stochastic confirms the swing low in the next day or two then we could be in for a nice 150 pip long on NZDUSD. The price has gone above the 50 SMA and the pivots have started to move in an upward direction.
Always happy to hear some else's view on this.