Showing that Bullish momentum is very strong with BTCUSD. Looking to see price drop slightly then climb up to the 1.618 area. Deepest retracement so far is the .50 area.
I am looking for GBPUSD to rally north. Bullish Pin bar formed at key support.
Bearish Reversal
Expecting the price to hit the 1287.11 level and then either bounce back down to the (plan A) 1280.50 or continue up to the (plan B) 1287.xx. If the price does bounce down, I will buy at that level back up to the 1287.11. Once here I will see if the price will break future resistance of 1287.11 and then push upward to 1290.39. I will take small opportunities as...
We have some nice potential trade setups here forming. Looking at how price has moved historically can allow us to predict future price movement and trade along those lines of Support, Resistance, and associated Trendlines.
Identifying Support and Resistance can be a good way to trade. Learning how the market moves will allow you to capitalize on projected movements and learning to want what the market wants will help us to become better traders.