WTI has clearly respected a key structure support level on a daily.
we see a sequence of rejection/dodji/engulfing candles and rsi divergence as well.
I have a bullish bias on WTI and currently hold a long position.
My stop is 50 level but I have entered a few days earlier.
Key levels for targets:
Counter trend pullback in to the broken bearish TL and support zone.
Inverse right shoulder to form at 0.62500 and then go long to new highs at 0.64200
All positions and orders are marked on the chart.
2019 Cryptocurrency (Elliott Wave): Inflection Point
From the 2018 bear market low set on 15-DEC-2018, the Bitcoin bull market has gained 340% into the high of 26-JUN-2019. Since then, the largest pullback of the 2019 bull market has been underway, thus far a 35% decline heading into...
Resistance at 2.0 held strong (daily double top)
Daily TL broken and retested.
4hr timeframe maintaining a lower high and rejecting TL
Looking to short down to new lower lows and then long term support at 1.83500
Nice 1hr bearish trend forming on gold. The bullish 1hr TL and 50ema have been broken.
Price is now retesting the daily pivot level, 1hr 50ema and previous support at $1498
I am looking to short gold on these 1hr pullbacks back down to the previous lows and support at $1460
Completion of the bear impulse wave and 10 wave exhaustion of the bear market for me will signal the end of the BTC/XMR pair bear market and i will be a strong buyer at these price levels with a 26% stop on original entry (this is a non leveraged position) these will be a long term hold possibly taking 1-2 years for completion of targets
The exchange rate can build a fractal course. You just left the descending sequence (green rectangle). In case the fractal movement continues, we are now expecting a rising trend channel based on the sequence. The top of this trend channel is somewhere around 74 usd. In this case, the current levels may be suitable for taking a long position.
Bearish trendline holding strong with 3 rejections now. I will look to go short on the 4th touch of the TL around the 1.96420 area where the fib 0.786 retracement level also sits.
Stop loss comfortable above the TL and targeting a new lower low at 1.93200
Potential for nearly 6:1 RR
Multiple timeframe trends aligning on GBPUSD now.
Daily bearish TL broken, 0.618 fib tapped and a higher low made.
1hr trend is bullish.
I have entered on the higher low at 1.23200 with a higher low, 1hr 50ema for support and the bullish 1hr TL
TP1 is at 1.25 (1hr trend fib extension)
TP2 is if there is daily momentum and it is a higher high on the daily timeframe
After last weeks success on shorting the EURJPY fx pair I am not in a long position to catch the next bullish wave up to 120.00
Price has been squeezing tighter and tighter on this 1hr timeframe and it has made a nice 3rd touch rejection at my 117.200 key level.
I am looking to trade this pair bullish up to the previous resistance at the 120.00 key price level....
This is my update for DXY.
Dollar index has recently broken below the support line of a rising wedge.
It is a very strong signal which determines a bearish sentiment.
We can expect a rally to 97.5 level and my midterm projection is bearish.
The exchange rate is moving in a fairly regular upward wave. The sequences are well identifiable. The ascending sequence is 1-1-2 and the correction sequence is 2-1. In case this regularity lasts for a few days. the exchange rate may rise to 1.12067. You can also see that the current level is suitable for taking a long position.
though we see some correctional movement on silver
my outlook is still bearish .
currently, the market is standing just beneath the major falling trendline .
I expect that selling volumes will accumulate and we will see a bearish breakout of a bear flag .
for us, it will be a perfect selling signal.