Last month we saw the break of the all important 106.000 psychological level support zone. Price had recovered from the subsequent drop in price, however I believe we are experiencing a break and retest scenario of 106 and will see further decline back to the previous swing low, at least, if not further. Yesterday's daily closure signified a slowing in bull...
Expecting USDCAD to break to the downside of the current range. My earlier idea published for a sell limit was cancelled as price began to fall. I now look to enter a short on breakout. Looking to take profit at the next level of support. Great R:R, stops can be placed above the psychological level at around 1.35200!
Good Afternoon Traders, A couple scenarios for you all, potentially we are in ascending channel as illustrated by the dotted trend lines, the highlighted area is my area of interest will Price action push into this area and reject or will we get a strong bullish candle close, ideally for me if we do ill be looking for a further push out of that area and a...
A potential short opportunity may arise for USDJPY at the 107.400 level. Confluences here will be a rejection of the descending trendline, in line with the 100/200 EMA, and the previous support zone. We may experience an initial drop to the 106.635 area ('TP1'), with a second target around the 106 psychological if momentum is strong. Let's see how this plays...
Pair: EUR/USD Period: 4H Classic setup on the euro with as we move away from the 1.1300 psychological level to the bottom of the SiFi zone at 1.275. Confirmation with break trend line. Short entry at 1.1275 Stop at 1.1315 Take profit at 1.1200 Move stop to break even at 1.1250
EURJPY downtrending on higher TF with yesterday's daily candle (spinning top) indicating slowing momentum from last Thursday's bull run (up from a 3 year daily low) and a potential reversal. Further indication of this is the observed rejection of the D1/H4 downtrending TL. On H1 we observe price being supported at the 116 psychological level. I am anticipating a...
LONG GBP/USD, ***IF there is a clear rejection at the monthly key level 1,20000 (psychological level), wich should act as resistance. Also, the market is overextended (seen on the RSI). IMPORTANT : I am only showing an analysis on one of the many timeframes that I use.
Hello Traders! Another update today, which will be on Big Baddy BTC, forming a potential classic bear flag and is trading at $8000 psychological level. It is highly probable that this bear flag comes to fruition as the lower trend lend is being tested for the third time… Points to consider, - Trend in a bearish structure - Lower resistance at .236 Fibonacci...
In this idea, I will try to give an alternate perspective on the BTC/USD performance by the theory of Elliot wave technique analysis. I will discuss about 2 main rules of Elliot Wave Theory (EWT), the first is triangles and the second is the alternation rule: 1)Triangles appear to reflect a balance of forces, causing a sideways movement that is usually...
Looking at the USDCHF daily chart, a bearish engulfing candle has formed around 0.98, a psychological resistance level.
We are at the top end of the Monthly Range, so I will be looking for a reversal at the 1.63500 Key Resistance level. I did post this analysis on the 22nd of May, However, we have finally approached this level today.
Watch for break below support level area @1.15452 & psychological area 1.16000 If confirmed: Next target would be 0.50 fibonacci retracement which coincides with measured move break of prior trading range Target area @1.2200 psyhcological area. S/L above prior bearish candle @1.6563 Risk/Reward 1:3 Target pips: 300+
Inverse head and shoulders initiating a bull run to psych level potentially beyond Unless it rejects 84 again
Technicals Positive on all time frames Has broken out above historical high Has broken and closed above psychological $100 level This was done in mild volume, so volume confirmation would be welcome Trade setup Buy the breakout in half size Stop loss at 92 and 88 Target 110 Expected timeline for this trade 7 weeks Please mind macro numbers (CPI today) and...
Monero declined from 155 to 62 and lost exactly 60%! This is interesting sign, but to be more confident, 62 is really nice psychological support because wave (I) resistance became wave (IV) support. There is one more and the most important sign! We see a clear double zig-zag correction, which means that correction could be completed and we could expect Monero back...
BITFINEX:BTCUSD hit our first top projection at 6200 level, but we still see room for a new high, so we have to be very careful arround those levels! We believe that Bitcoin is in minor three wave correction of red wave (IV) with strong support arround 5000-5200 level and 38,2% Fibo. retracement. Keep in mind that 4th waves can be very complex, for example: flat...
USDCHF > Long after Pullback Buy Entry @ 0.95750 T/P @ 0.97750 S/L @ 0.94750 Resistance @ 0.98370 broken with expected rise toward 0.98590 / 0.99000 level for re-test. Expecting consolidation toward 0.97050 fib retracement, followed by 0.96700 and 0.95650 primary support. Expecting 0.95650 support to hold and bring rebound toward psychological level of...