Following on from my last analysis on bitcoin, I am still expecting a move up to around 8K and that will complete a 3 wave correction on H4. On a lower timeframe you will see a possible 5 wave correction. However, the market currently stuck at a major resistance level and I will not be surprised if we don't end up breaking that resistance at 7K but the structure...
We have bearish bat pattern that has just completed so let's see if this pattern gives us a win. This is bearish on a higher time frame so going short whenever the opportunity presents itself is a good idea so let's see what happens
Any opposing comments or views are welcomed.
Following my last forecast on bitcoin, it is now presenting us with another buy set up and this could be the move that will help us complete wave 5 of this correction just above 8k and from there I expect the market to give us one more leg to the downside where we have a trendline support just before our previous structure low and either of them could help up us...
This market is likely to repeat the previous pattern it made on Friday and I think we will a nice move to the downside. The market has also touched the upper trendline and we seem to be getting a reaction. This a day trade so that's why I won't be giving any detailed analysis but feel free to leave any opposing comments or views you might have.
Bitcoin is in the middle of a possible 5 wave correction and there's currently a buy set-up that will complete the 5 wave correction. This correction however, will likely present us with only a short term sell trade because there's a major trendline which I expect to act as a support that will give us the complete reversal into a bullish market.
If you have any...
We have a nice bearish Gartley pattern that has already completed and now I'm looking to see if we will get a reversal. The market is bearish on a higher time frame so this looks like a good opportunity.
Any opposing views or comments are welcomed!
So USDCAD been in a correction for the past week and I think the correction will likely end here so I expect the bullish trend to resume very soon. We have a classic ABC correction and the market has come into a previous structure resistance which will now act as a support, this zone is also happens to be the 127.0 Fibonacci zone of the (A) mini impulse leg. Which...
This currency pair is in a daily corrective structure which i'm expecting to break to the downside. The market is currently at the 61.8 Fibonacci retracement line of the impulse leg. I'm expecting a breakout, followed by a sell set-up which will give us a trade to the downside and if that happens I'm expecting the trendline to act as a support.
All comments and...
This pair has been in a sideways consolidation in the last few days and whenever the market is in a consolidation we tend to see a lot of advanced patterns and we have one right now that is very close to completion. We also have a potential sell setup developing. The market could break the mini trendline before completing the advanced pattern and continue going...
So the eurcad has been in the expansion phase over the last 3 days and it has already retested the support line and now it's back above the middle line and we also have a buy setup forming so we are looking for this market to go and retest the highs and possibly reach our target at the 127.0 Fibonacci extension!
Any different views or comments are...
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with this price action with how we have moved to this outer structure this looks like the buyer are coming out and now the seller will be coming in with the corrective way of moving with price action this is looking good for a short and showing a clear rising flag this could drop out we could go from the top down or get a hover and then break on the drop but...
Daily is currently at a minor support level so we can see some relief to the green line. Double Bottom and then a break of the V Point on the 60 can provide a decent opportunity between the zones drawn in. 60 in itself isnt too convincing but you can use it as an entry for higher time frame perspective.
we have a break of this ascending trend line on USDCHF, we should wait for the retest before entering a SHORT position towards the 0.97200 region
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Price is at the 50 level of the last major fib retracement. There is structural resistance at this area. Price has formed a bearish bar out side the trend line. Price should continue downwards. Divergence is evidence.
GbpNzd at minor support overall a daily flag type pattern so it is added confluence. There is some lower level of support a bit lower which in my opinion is a bit more important and significant but still not a bad opportunity.