after price has tested supply zone twice or thrice—and buyers have flooded the market—selling pressure could cause a pullback to blow past the 61.8% retracement to the demand zone.
Bitcoin can go both ways - bounce of $600 again or finally make a larger correction and go below $600 US Dollar. Thereby creating the sell pressure to dive down further before it then bounces of somewhere between $585 to $525.
Here are my thoughts how the bounce might look like, if Bitcoin makes a large pullback and bounces of $525 and then resumes the uptrend in...
I've been a bull on this pair over the last month or so but now I've got a short opportunity on my radar looking at a retest of previous structure highs on the daily. As a countertrend trader it's important to realize that I'm not looking for the big long-term move, simply a brief correction.
If this correction rolls over more than expected there's a 2nd...
I've been a bull on this pair over the last month or so but now I've got a short opportunity on my radar looking at a retest of previous structure highs on the daily. As a counter trend trader it's important to realize that I'm not looking for the big long-term move, simply a brief correction.
If this correction rolls over more than expected there's a 2nd...
* I tried to post another chart with this showing the advanced pattern, but think I messed up doing so. I'll keep trying but here's the daily view that was suppose to compliment my other chart** SORRY GUYS
I've been a bull on this pair over the last month or so but now I've got a short opportunity on my radar looking at a retest of previous structure highs on the...
SolarCity poked its head off consolidation and looks ready to amke move higher. Overall, stock gained 400% since it became public.
This has largely been driven by its attractive business model, which has allowed it to grow its customer base at a feverish pace. Unlike other installers who require customers to make upfront cash payments, SolarCity foots all the...
AUDUSD was in an uptrend since approx the beginning of the year. In May the pair failed to make a new high and since then began a range, which broke the trendline. The new recent high made at the beginning of July looked to restart the trend, but instead signaled bearish divergence, as the the RSI failed to make a new high as well.
I am waiting on a little pull...
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UPDATE (August 24)
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Here is what happened so far this since my "Bitcoin is facing a larger correction" forecast 1 month ago. Since I said "I was bullish on Bitcoin until we breached the 610 US Dollar price area" Bitcoin fell down to $442.
My short target was...
The latest intra-day candle in Encana seems to demonstrate a classic Wyckoff spring at a support level. There seem to be willing buyers below the current support level. This looks like a pullback in a trending stock to be bought.
Gold found supply level at $1331 - reversal point from 14th of April. from another side it is building nice upper level base with support at $1325. On daily, it feels a bit extended, so some kind of pullback makes sence.
$1326-28 is another resistance zone inside of that wide range. Looks like bears trying to take control and keep preassure on price.
Next...
Twitter seems to be rejecting the 1.618 ext of the Crab pattern measured from A to X leg. Bearish Divergence may be a conformation of a pullback or a complete reversal in price.
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This airline company found strong resistance zone at $48-$49. Bounced off it very agressively with gap down zone from $44 to $45 which is powerful sign that sellers keep control on price.
From fundamental point of view there is tension in Iraq - one of the biggest supplier of Oil in the worls. Break in supplies leads to higher prices and then higher costs for...
Yesterday I was analyzing 4-hours timeframe where I mentioned series of lower highs (sellers in control).
Today, it broke down 1.67800 important, intermidiate level of support which acted like resistance before with nice "h"-pattern (pullback trade).
I keep my TARGETS at 1.67000 and will continue to navigate this downside action.
Check my previous thoughts in...
Whirpool hsowed relative weaknes and broke down consolidation support at $143. At the same time S&P put another high.
There were couple of entries. First one in the morning, momentum trade when it broke $143 support. Second opportunity was to short or add on pullback into 8/21 EMA zone. 8 EMA followed nicely and stock closed on dead low.
Check my thoughts on...
This is my first idea.
Based on past bubbles, this is what I expect to happen. We're just now reaching a three quarters moon along with a lunar apogee (moon farthest from the earth) two days apart, which coincides with the timing of the pullback during the last bubble. Since this seems to have played out as I expected it, this is where I think it will go from...
I used the arrows to highlight the areas in which we have seen the crossover between the MA-50 and EMA-15, coupled with high volume, rising RVI, and overbought RSI.
I don't believe anyone should actively attempt to short here if holding bitcoin is your objective, however I do believe we will see a final buying opportunity very soon here before the ultimate run...
It has already hit the 79% of prior HIGH and bouncing back a bit. IF it pulls further, two supply demand/support/resistance levels should allow for scalps OR resuming of major trend UP. 79 ceiling would be short term exit.
