From the chart you can clearly see the different phases of the market - Impulsive & corrective phases. We've seen several bullish corrections this year and we look to be in another one. This pattern is almost identical to the one we had in January 2021 which ended up topping off at 205% increase from the breakout!
We could be in a very similar situation here. Pay...
Ripple has been really boring as of late with not much happening. We are now at a very critical time where we can see price being squeezed within a flat triangle pattern. We'll be watching for a breakout in either direction to tell us what the next move is going to be and then follow the short term trend to either side of the parallel channel.
Once we see a...
LINKUSDT is giving us a really nice pattern where we can look for both shorts and longs. For short, we are anticipating price to go down to the double bottom region atleast to complete the falling wedge pattern. For Longs, we're waiting for a break of the wedge pattern and we'll look to get in on the first correction.
Dogecoin recently broke out of the bullish channel and now we can see a smaller correction which we anticipate would move up. Waiting for the break of the correction to enter with stops below the correction.
See chart update for higher timeframe analysis.
In our last analysis of SHIBUSDT, we were waiting for the breakout of the descending channel. Price dumped a little before breaking out. This is why it's really important to wait for confirmation via a breakout. Price pushed up 57% from the breakout!
We now have another bullish correction and we will be waiting for a breakout to gain another entry!
The distributive movement on the instrument may end soon, as the price has already come close to testing the strong support of the price channel.
At least I expect to stop at the intersection of strong levels in the zone - 1.1915.
Since the trend is upward and there was no breaking of the global picture,
I expect either a rebound from 1.1915 or a false breakout...
The strong distribution changed the local trend from an upward to a downward one, but globally the picture is not broken.
The instrument is testing the lower border of the price channel .
Now pay attention to the place where the price came.
Crossing of three support lines, one of which is a strong level, which was confirmed a large number of times - 1802.
Here on the 1 hour time frame we see that BTC is in a Bullish channel and has got 3 rejections from the Support line. On the other hand the price is right at the previous Resistance turned into Support which is suggesting the price might go higher from this level. If the Pullback happens it must be around 37978.0
Here on GBPUSD we have been in a Bullish channel and inside this channel it has formed a Bullish Flag. As we see on the chart the price has got rejection from two support lines of the Bullish channel and the Flag and also a very strong Support area.
Buy now or Buy at 1.40767
SL @ 1.39890
TP1 @ 1.41820
TP2 @ 1.42430
NZDCHF is in a bigger channel and has approached the channel support. We have reached the channel support within a descending channel which is typically a reversal pattern. Also, we can draw a descending trendline and watch for breakout and put stops below the channel.
Looking for the previous top as take profit.
Goodluck and trade safe!
After the massive drop during the pandemic in March 2020, US30 managed to recover all of its loss and managed to create new highs. We are now at a significant level now where price can either continue pushing higher or we could turn bearish . It's important to note that the FED announcement is today which will have a big impact .
Keep a close eye on the the...
The price continues to form a rounding off the resistance level as the beginning of a correction movement.
This formation indicates a large number of limit orders in this area.
The picture from the previous forecast does not change,
I expect the instrument to fall to the lower border of the channel.
Share your opinion in the comments and...
Gold , after a false breakdown of support at 1855, has corrected and is consolidating above the level.
The trend is upward, I expect the price of the metal to rise at least to the lower border of the price channel .
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
CHFJPY has given us a high probability reversal pattern as well as a double top which makes this a high probability trade. On lower timeframe, watch for bear flags to take this down.
Goodluck and trade safe!
The general rule has always been: The bigger the correction, the bigger the impulse. Ethereum broke out of the massive bull run we had recently and is giving us a bigger and deeper correction.
There are a few places where we can look for price reversal.
First area is the $2650 where we have previous structure.
Second area is where we have the Major trendline and...
USDCHF recently bounced off a double bottom area. We are now looking for buying opportunities such as bull flags and break and retests.
In early 2021, we had the perfect price action that took us up over 600pips. We are now looking for similar price action to take us back up!
Watch lower timeframe for bull flags.
Goodluck and trade safe!
Following our educational post about flag patterns, we are now seeing a bullflag for Dogecoin.
After the breakout of the descending wedge at the end of May, we had a nice impulse and now we are in a correction that looks to be a bull flag. The bull flag support lines up nicely with our previous structure and the 100EMA.
Watch for buying pressure at the 0.28...
BCH is approaching a key area where we will find out if we're still continuing to be bearish or if we'll have some sort of reversal. The key are to focus on is the 450-500 area where we have a recent bottom.
If price action shows bullish pressure, we can find entry reasons such a break of the wedge pattern.