Notes are on the chart. Looks quite a lot of confluence to roll over not forgetting about Covid-19. Big number of 200, multiple drives up already, bearish divergence across time frames, touched outside top bollinger band for the second time, touched top trend line for third time.
Personally, I have scaled in and will be scaling out of this trade. However, this...
Overall I think we're still in for some selling pressure down to the 80.50 - 81.00 region.
We're seeing some really clean price action after a break of the 83.00 handle, with price making lower highs and lower lows.
The EMA Waves throughout the higher and lower timeframes are aligned.
If this does play out it'd form a 3 drives pattern, which I have seen...
USD/JPY Potential Bullish Three Drives Pattern
After the long and medium term analysis for USD/JPY on the
weekly and daily time frame, the final analysis for the
short term on the 4 hour time frame is ready.
As previously mentioned in the other two analysis of USD/JPY,
the key level of support is the 110.30/00 level. On the 4
hour time frame however we could...
GBP/JPY Bearish Three Drives
GBP/JPY is hanging, or better resting, on a very thin level of
intermediate support formed by a minor bullish trend line
currently. However, looking how close price came to closing
the gap between 142.20 to 142.60 at the end of May, 2018,
it seems very likely that it will now close this gap. The
reason why I believe it will, is...
BTCUSD hit second 0.618 fibonacci retracement, inside rising wedge pattern. This price action will trigger bearish three drives pattern.
To complete this pattern,, 6449 will be bullish target from 5565 at fibonacci 1.414, and prepare for bearish correction after target reach to 5391.
The Forex market never ceases to amaze me. Price floats like a butterfly but stings like a bee if one doesn't apply an edge with a solid risk management method.
The chart speaks for itself...
I am short bias, although a break and test to the upside of 1.1000 will present a long opportunity. You have to be quick like the jaguar in order to reap the rewards of...