From the chart we can see various phases for Bitcoin. In technical analysis, we have various patterns for various phases of the market. Impulse - large bodied candles signifying strong move in the market Ascending/Descending corrections - happens at the end of a trend indicating a reversal is near Flags & Pennants - a trend continuation pattern We can see that...
In our last USDCAD analysis, we were looking at the lows from August 2018 for a signs of reversal. We pushed below that to hit the lows from early 2015 and we are finally seeing signs of momentum loss. On the lower time we can look for opportunities to go long. The invalidation point would be the 1.8 level. With these kinds of patterns, the correction is...
In our last USDCAD analysis, we were looking at the lows from August 2018 for a signs of reversal. We pushed below that to hit the lows from early 2015 and we are finally seeing signs of momentum loss. On the lower time we can look for opportunities to go long. The invalidation point would be the 1.8 level. With these kinds of patterns, the correction is...
EURCAD is in a bigger pennant pattern and is approaching the support of the pattern. We can see that we are currently in a descending wedge indicating that a reversal may happen soon. On the lower timeframe we can look for trading opportunities within the wedge until we buy the breakout. Will update once we achieve a breakout. Goodluck and trade safe!
EURCAD is in a bigger pennant pattern and is approaching the support of the pattern. We can see that we are currently in a descending wedge indicating that a reversal may happen soon. On the lower timeframe we can look for trading opportunities within the wedge until we buy the breakout. Will update once we achieve a breakout. Goodluck and trade safe!
EURJPY has finally broken out of the ascending pattern and is making its way lower to the major trendline. Watch for bear flags on the 1H to take EURJPY down. See chart below for the higher timeframe. We are anticipating a break of the major trendline to take this even lower. Goodluck and trade safe!
EURJPY has finally broken out of the ascending pattern and is making its way lower to the major trendline. Watch for bear flags on the 1H to take EURJPY down. See chart below for the higher timeframe. We are anticipating a break of the major trendline to take this even lower. Goodluck and trade safe!
USDJPY broke out of the bull run which started at the start of the year. Once it broke, it didn't just drop instantly. It created a complex correction which can be seen on the chart. Ideally we'd want USDJPY to push up once more to create a double top before dropping. Will be watching the pattern play out and see when the break occurs. Goodluck and trade safe!
After AUDJPY broke out of its bull run, it started to create a bigger correction on the daily timeframe. Price can be broken down into 2 phases; Impulse & Corrections. Looks like price could move up once more to fulfil the 5 wave reversal pattern before we move down. We are also short on EURAUD for the short term due to AUD strength so we can correlate that...
After AUDJPY broke out of its bull run, it started to create a bigger correction on the daily timeframe. Price can be broken down into 2 phases; Impulse & Corrections. Looks like price could move up once more to fulfil the 5 wave reversal pattern before we move down. We are also short on EURAUD for the short term due to AUD strength so we can correlate that...
USDJPY broke out of the bull run which started at the start of the year. Once it broke, it didn't just drop instantly. It created a complex correction which can be seen on the chart. Ideally we'd want USDJPY to push up once more to create a double top before dropping. Will be watching the pattern play out and see when the break occurs. Goodluck and trade safe!
In our previous analysis, we were looking at the double top region for a short and a break of the wedge. The wedge pattern changed a little but the bias remains the same. Price broke down and retested. Will be looking for a bear flag on the lower timeframe to gain another entry
In our previous analysis, we were looking at the double top region for a short and a break of the wedge. The wedge pattern changed a little but the bias remains the same. Price broke down and retested. Will be looking for a bear flag on the lower timeframe to gain another entry
Litecoin had a massive drop recently which broke the major ascending trendline. Right now we are approaching a key level of price where it's a break or bounce scenario. If price breaks the $210 level, we can see Litecoin moving higher again. If we fail to break the $210 level and bounce from there, price could potentially go down to atleast the $120 level to...
Litecoin had a massive drop recently which broke the major ascending trendline. Right now we are approaching a key level of price where it's a break or bounce scenario. If price breaks the $210 level, we can see Litecoin moving higher again. If we fail to break the $210 level and bounce from there, price could potentially go down to atleast the $120 level to...
EURAUD has approached the channel resistance in a corrective manner. We can draw an ascending trendline and wait for it to break. Target will be the channel support depending on how price goes down. Goodluck and trade safe!
EURAUD has approached the channel resistance in a corrective manner. We can draw an ascending trendline and wait for it to break. Target will be the channel support depending on how price goes down. Goodluck and trade safe!
CADJPY has approached a really good area to look for shorts. We need things to line up on the lower timeframe before we jump into this trade. See chart below for lower timeframe. Goodluck and trade safe!