As this has progressed on the hourly things are beginning to look better. It seems to me likely that we have our waves 1 and 2 set now and this *could* be the beginning of Wave 3 (target shown if so). For this scenario to play out the rising support line should continue to hold.
After a touch of the weekly trend line, i am anticipating new highs after the break of structure on the 4H chart. I see it happening in the form of an inverse Head and shoulder pattern. lets see how it plays out
Price is currently @ weekly support 1.29000 and may possibly be forming a double bottom on both the 4H and D1 timeframe. I am expecting either a a 38.20%, 50%, 61.8%, or a 78.6% retracement to coincide with an advanced pattern. Price is @ a good level to buy as in a clear trend channel. Before entering look for further confirmation from candle readings on lower TF.
One more up before going down, or rejection at 9.75k and going down.
Scalpers can play this when there is volatility, I'd not recommend to use positions unless 10.8k is rejected hard. I cannot see going above 11.8k, at all.
Structure is very clear.
Because we should have already corrected healthy, which we didn't and consolidated too long with too much...
Best case scenario is 4.8k, expected direction 3.3k, bearish scenario 3 digits. ETA either summer or multiple year(s).
BTC vs USD Index (still in a bubble)
Artificial pumps on margin won't cut it, roughly +~100 real btc from joe fomo and traders won't push it to 12k.
August 2016 was the last time Gold found its way higher than this zone, so we are expecting resistance once again and possibly another big sell off.
Start thinking like the big traders.. because this is where they have obviously set sell orders before so what makes you think they haven't this time? if they have we will have a large movement very soon.... Then we...
Get a chart up, find some key levels and look at how well price respects them and how many pips you could have munched on buying and selling off these levels... No indicators were used here, just nice clean charts.
SIMPLE is better in forex and if anyone tries to tell you differently then run a mile ;p
Think of it this way, we all know the world is corrupt so...
What Halving means?
Halving is a term common among cryptocurrency miners – the process sees the reduction of mining rewards of cryptocurrencies slashed by 50%.
The halving is the event, the moment when the mining reward is divided by 2, is commonly called "halving". Other denominations are used: "reward drop", "reward halving", or simply "the halving" or "the...
We saw this pair break bearish yesterday and break the trend line i have plotted. You can see price broke below that and retraced at support. Price is currently at 50% of that bearish breakout. We MAY see price break lower as divergence is also evident. Having said that, we may see price retest that trend line before a potential bearish move. If price re tests the...
Can you tell us why you think price will bounce at our green zone? post your answers below... winner will win a pink unicorn called Fred... I bet you all want to enter now ;p
We keep saying it but SIMPLE is BETTER in forex trading! we will drill it in to your heads sooner or later.
Anyway the winner of the competition will have to collect the unicorn from the...