bitcoin is looking for the retest as it has so many times before. the pattern repeats let go and let it happen the consolidation has been very thourough the foundation for the bull market has been set
LTC may be dipping down slightly more, attempting to finish its final correction leg at C. Then starting a new Elliot wave cycle. Bouncing back up between the 38.20 and 61.80 Fib Retracement level at 1. It continues to struggle to break the $155 price mark, and hopefully on this 2nd wave it will push through that, making its way to $160 as predicted! 24 hr...
Ngas on Friday prices dropped in a downtrend (a bearish bias) through trendline support near Fibo 0.618 level which is now seen as Resistance at 2.92. Support is seen near 2.86 Fibo 1 level As we can see on the 1hr Chart Momentum is bullish and technically I will be looking for a retest / pull back sell.!! Have a nice weekend
This is a chart I made mapping out some Support/Resistance lines for HMC which is on a downward trend long-term. The Old Support / New Resistance candles, as well as Old Resistance / New Support candles, are all marked and match with a connection line displaying the correlation. There are 23"soon-to-be" bearish old support candles which I think will have bullish...
On the W! chart, duplication of first bearish leg is expected. Price moving lower now after respecting the weekly channel.. On the D1 chart, price broke the uptrend line and duplication of first leg is expected. On the H4 chart, we will be looking for the broken trend line to be retested and corrections towards the zone 1.3390 – 1.3440 which will provide us...
A beginning downtrend started a few days ago, price broke through and bigger timeframe key level (red line), we see the first retest of the line. The idea is to get a second retest to the line and then break through the countertrend. Target would be the next key level 1.4111. I will update this idea when price moves
Hey guys! NZDUSD has been retracing and it has retested a big trendline's resistance and the Double Top pattern that I found a few days earlier! This means it might be a good short should it rebound! Currently waiting for the 4H candlestick to show a rebound before I enter! Good luck guys! For those wanting to see the retracement happening on the Hourly chart:
In this strong downtrend a broken structure to the downside became a resitence. Price is retesting this area which is also a Fib retracement level. Think this is a nice opportunity to sell and ride the move. As target 2 the use of harmonics (dashed red segment) could help to figure out where price should take a breath.
Although I don’t day trade on Monday’s I have a handful of pairs on my radar for my swing trading portfolio. Multiple patterns on the EURUSD, a few setups on USDJPY, NZDUSD and of course the chart above on EURAUD. We were watching this pair last week for the bullish breakout and now that we’ve gotten it, the next chance to hop on would be at a pullback. Looking...