It's not quite a head and shoulders just yet.
This is about watching for potential situations and preparing for them.
As I showed in other charts, sometimes we can get a a second right shoulder in ultra-bullish markets but there is no law on what can happen in these markets.
Readiness is (almost) everything.
Disclaimer: This is not advice or...
This is very unlikely scenario for Bitcoin in my opinion. But I am still posting it, for those who dont want to buy BTC for 50k or 40k... If we will see this cycle of bitcoin sell off after 2-3 years as it was in history in 2014 and 2018, the area around this curve after 80-85% decline (10-15k USD) would be the best opportunity for buying crypto currencies.
As you consider we are in a triangle of the bearish trend so, please Be careful in your dealings !
In a short term, we have another rising but at 38-37k price be careful and in my suggestion sell 50% of your short term investing
Good luck and be profitable ❤️
". There is still a possibility of temporary retracement to the suggested resistance line (1.82728).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
. GBPAUD is in a downtrend, and the continuation of the downtrend is expected.
. The price is below the 21-Day WEMA, which...
Gold pushed off strong support zone 1798.44. In this zone, the support level and strong lines of June 2016, December 2015 and June 2019 intersect. From this zone, the price started to rise and now almost came to the resistance level of 1878.89. I expect a reversal from this level and a fall back to the support area of 1811.42. This will be our goal.
At first, I noticed the symmetrical triangle pattern but there was no clear indication of a breakout in a particular direction.
Zoomed out and identified a head and shoulders pattern and this normally indicated a reversal to the downside.
Hence, I have decided to short this pair all the way down to the previous resistance level of 105.6
I think the risk to Rivard in the buy position is not safe. We need a price break or a new pattern.You can wait for the roof to break to buy, but for now, considering the fundamental conditions, selling is a reasonable option.
We took advantage of the downside movement last week on this pair. Check out how 4HR levels have been violated. Another bearish week?
We have seen the JPY reverse last week after lockdown restrictions have eased for the majority of cities in Japan.
We are currently at a key long term level in price - a break of this level will mean further downside movement this week!
Hello traders,In this analysis, I examine wave 4.
Wave 4 can have two structures, either a triangle or a zigzag. If the structure was a triangle, it should have gone straight up from the open price last night, but since it has a decline, it has a zigzag structure and can go down to Fibo 0.50 in the 1840 price range.
If the ascent starts, be sure to enter the deal...