GBP/USD, GBP/EUR, GBP/JPY, EUR/USD, USD/CNY, DXY
PREMIER AFRICAN MINERALS LIMITED ORD NPV (DI), LLOYDS BANKING GROUP PLC ORD 10P, FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), LOCATION SCIENCES GROUP PLC ORD 0.01P, VODAFONE GROUP PLC ORD USD0.20 20/21, POWERHOUSE ENERGY GROUP PLC ORD 0.5P
FTSE 100, DAX Index, Euro Stoxx 50, S&P 500, Nasdaq Composite, Nikkei 225
Gold, Silver, Crude Oil, Brent Oil, Natural Gas, Bitcoin
BTC/USD, ETH/USD, BCH/USD, XRP/USD, LTC/USD, ETC/USD
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
Gold, Brent Oil, Crude Oil, CFDs on Natural Gas, Palladium, Silver
Here's the setup:
- Drawn support / resistance levels on the chart (30m is green, 1h is yellow, 4h is orange, daily is red) The darker the colour, the more potent the level is.
- Black dotted channel is the bear channel, I've extended this to show how the price action movement should look like in the next couple of days, should we stay inside this channel.
So last time I prepared for a movement either bullish or bearish, and this time it seems the bear won and triggered my short!
In a perfect world, the price from here should keep heading down, following the channel downwards, but we gotta prepare for an invalidation too.
Here's the game plan:
1. Aim to take profit just above the lower channel to make sure we ...
Looking at the daily chart for bitcoin (I usually trade on the 15m - 30m charts), although we are bearish in these small timeframes, it looks like we are still bullish overall.
Bitcoin on the 30 minute chart has been bearish for the past couple of days. The the crossover on Stochastic RSI oscillator typically indicates a drop off, it looks like a good time to sell.
Bitcoin on the 30 minute chart is showing bullish signs however the consensus still seems to be bearish, so I would be cautious to FOMO enter now.
I drew up some supports and resistances on the chart, to show a good level to short (which is right below the support level for confirmation).
This could be a bottom reversal sign, it looks like a good time to go short this weekend.
Bearish Rectangle is lower highs and higher lows, which is what it looks like to me on this daily chart. Looks like a bearish continuation sign.
Triple candlestick pattern on the daily chart. If it completes, its a very potent bearish signal
Drawing a fib retracement on the daily Ripple chart, I can see the candle materialising bang on the 61.8% level. Combined with the recent Binance news which most likely caused the crash, this could be a bullish sign.
Bitcoin on the daily chart seems to showing Double Top signs. The rule of double top says the length of the decline should be the same length as the neckline and and top. Should be a good time to short
If LTC breaks the first support, it will bounce on the second one.
Lower highs and higher lows could indicate a breakout upwards.