We are at the bullseye. If you short from here with a tight stop you have a great opp for profits! My stop is above 40k. See related idea for analysis.
The bullish trend that started over a year ago has been broken by a bearish engulfing candle on the weekly chart. I would look for price to pull back to somewhere between the 38.2 and 50.0 fibonacci retracement levels before starting another push down. As always, wait for confirmation candles within the zone before selling.
When looking at how far a security could dip I generally like to look at key fib areas, particularly that .5 level. In this case, we see that Bitcoin has reacted well to this level in the past. We have completed the long-term impulsive wave and growth has slowed down in the recent extended wave. We have now created a lower low, which means the uptrend could be...
Here on the daily chart of the Aussie, we're noticing a potential head and shoulders forming. If we begin to form the right shoulder, I may begin shorting any bounces on the smaller time frames as we approach the neckline. A break of the neckline will confirm the head and shoulders in which case I will wait for a bounce back into the neckline. If we reject, that...
Patience is one of the key traits in trading. Last week we did not see much action, the price is ranging in a tight movement 20.4 points for a whole week. This week we are still waiting for a confirmation to short the market: (1) Price level at $1,390 is being respected and currently creating a "fake out" line. (2) My reversal zone remains at $1,400 (for now) (3)...
Hi all, Hope everyone is okay, been quiet for a while as been busy backtesting and not taking any live market trades. Been using my top-down analysis, and have seen a possible short for EURGBP. As you can see, regained strength after a sharp downfall, however it has a high possibility that it could break the trend it has made, and make a further fall to the...
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Short & Simple mark-up for GBPAUD. Hoping to see this fall bearish to at least 1.85000. My initial target is set to 1.80000 and second target reaching 1.76000 overall on the monthly perspective. However, things may change drastically due to fundamentals and some restrictions of COVID being lifted in the UK. If this goes bullish, I’m hoping for this to be after the...
key points to have in mind: 1- Weekly bearish shooting star candle 2 - H3 time frame have completed 3black crows pattern 3- H3 indicating MACD crossover 4- 5 wave of elliot competed time for correction bringing taking the price to potentially break the flag and drop for ABC elliot correction
The GULF ETF is breaking down of a long term up trend line. The MACD and OBV are supportive of this breakdown with cross downs. Something is happening in the ME... and while Crude is rallying like no tomorrow, I see something bad brewing! It’s almost like a warning of sorts... heads up!!! Reference ETF Info here
Likely a good opportunity for a swing trade. Indicators Koncorde and Cipher clearly show bearish divergences.
There is a rejection at the 0.618 of there fib retracement
This pair has completed its upward trend with a culmination of its rising wedge as shown below. The formation is complete and therefore the pair is expected to tumble. Also in evident is the double tops formed along the trend line which the pair has respected and shown no interest in breaching the trend. Check out the set up and let us know on the comments below...
38% Retracement at our respected descending trendline for a short continuation
Technical Analysis for a Short Continuation
1hr/ 4hr time frame, price retraced after breaking below a key support level, sellers were not showing any loss of momentum showing us that the pound can continue dropping lower.
Possible AUDNZD shorting opportunity. Broke diagonal channel and has come up to re-test previous support. Using Fib levels as TP's Any questions feel free to ask Ben #PipGainFx
Using Structure and Trend Analysis, I find a pull back into this level of resistance very important and may show us the continuation in this downtrend with the right candlesticks presenting themselves in this area.