We can see that price retracing, and approaching fib level 61.8, when price hits this level wait for strong bearish candle indicating a huge sell to fib level -27, which will be your TP. WAIT FOR CONFIRMATION!
Price is retracing, and now approaching the 61.8 fib level, wait for confirmation and SELL to -27 fib level. Again this is all price action trading, with various confluences. Wait for confirmation and sell!
DAILY/4HR Inverse Head and Shoulders Top formed.
(Head and shoulders top after a
bearish move, signalling continuation.)
Right shoulder formed, and crossed neckline,
meaning we missed the breakout entry, however,
since I have a strong enough CTS score I am looking
for a pullback final chance entry.
CTS Scored as follows -
Neckline Break - 1 Point
Divergence can be found in the hourly chart further more a heads a shoulder pattern is made. This can be an indication of trend change, I'm expecting price to decline to the previous major support 4 hourly and then break it for trend continuation.
Not much on the UK100 but if looked at closely the trade is simple.
Bearish push down from 17 Jan 2020, then consolidation all the way to 08 july 2020.
09 July drop
12 july up to consolidate/test "trend line"
24 July drop again!
My prediction is that we may see another push down.
The above analysis is my current view on the state of GBPCHF - it seems a short could be in play however I am looking at this with caution as a breakout could be on the cards.
As always will wait for price to move before getting on the move.
Let me know what you think!
As bitcoins price tries to recover from to drop a couple days ago will it break down from here or have another crack at $10,000?
We are going to see quite some volatility on the weekly close this week! make sure you set your stops!
Bitcoin looks very mixed at the moment but will thew bulls prevail over the bears? the world economy got a boost today, will this be reflected int bitcoins price?
Please Watch my latest video on youtube for more context on this chart
That Martini Guy on YouTube
ETH looks Bearish, It had a good run but with bitcoin not looking too happy at the moment it seems unlikely it will break out of its current trading range. Watch todays video for more context on this chart!