Price has broken past an ascending channel structure and it looks like we could potentially carry on moving lower to tag the lows.We can clearly see that price rejected multiple times off a psychological level,which could now act as a horizontal resistance level(an area of significance).Also it seems like we could have the two EMAs crossing each other,further...
We can clearly see that on the 4h time frame price has formed an ascending channel structure, which lines up with the Elliot wave theory. Currently looks like price has completed the E wave in the form of an ending diagonal corrective structure(rising wedge in an uptrend which acts as a reversal pattern.).On the 1h timeframe the relative strength index and the...
Price has currently been moving quite correctively to the upside.I noticed that there hasnt been any significant impulsive move that could confirm the continuation of the bullish trend,suggesting that price could potentially reverse and start a bearish trend to the downside. I identified multiple corrective structures, indicating that the move to the upside is...
Everything is looking quite good, just waiting to see if price will bounce off a previous area of sensitivity where it reacted to. Aiming at the top of the bullish flag pattern.
Saw multiple rejections off the trendline indicating that sellers have been quite dominant. Price has ,however, reached a level where it previously rejected, so we might have a similar occurrence in this current situations. Im not really looking to take any trade, just waiting for more price action to fuel my decision.
Took in consideration the previous bullish impulsive move to the upside before price started the corrective phase. After a push we always have an exhaustion, followed by a continuational push to the upside. We also have a descending structure within a descending structure, therefore there's confluence, meaning higher probability for price to break to the...
I predicted an impulsive move to the upside a while ago, but I wasn't expecting it to be so impulsive. We've had some news creating volatility in the market causing such a significant move. Right now,however,im not looking to buy or sell.I spotted a potential move that could take place and I just want some pinions on this.
price has been bound between the converging trendlines, forming the falling wedge. Taking in consideration the Elliot wave theory, has been forming the A-E corrective triangle formation.Ill be expecting price to move to the upside with considerable bullish momentum after a move to the downside, towards the lower part of the falling wedge.
looks like the market is currently experiencing an overall downtrend.I spotted the head and shoulders chart formation suggesting bearish movement to the downside.in addition the bearish pennant has to be completed to provide extra confirmation of the downtrend. Overall im bearish about the pair.
I identified a single candlestick reversal pattern(the hammer) which I believe was signalling strong movement to the upside. To further strengthen my predictions a I made use of Fibonacci retracement tool in combination with the already established areas of support and resistance. I believe the prices will break the first Fib resistance level down at the...
