martinbrits28

martinbrits28

Looking at the EW count on the 4hr chart it appears the pennant is Bullish and we can expect a break-out to the top There is also a decline in volume as you would expect before a break-out My call is: * Buy the break-out * TP: 0.0150 * SL: 0.0102

martinbrits28

USOIL: Double bottom Bullish divergence *If support holds .... we may see a nice bounce

martinbrits28

This is why i am BEARISH: * BTC is trending in the blue descending channel from July 2019 (Bearish) * Currently it finds in a rising wedge (brown) - (Bearish). * It encounters the top of the descending channel which probably would push it down. * A huge falling wedge (black) is busy forming to support my Bearish bias * We still have a gap to close at $3570

martinbrits28

Gold finds itself in a Rising wedge (which is a Bearish sign) There is a potential H&S forming to take it higher but once the resistance at Target 1 is broken we may see a significant drop in price My thinking is that leg B of correction ABC is completed and we can drop to current position C or even lower

martinbrits28

EURUSD: Long term analysis Two strong supports need to be broken to continue downward price action. I rather believe think we may exit the triangle to the Bullish side

martinbrits28

Very interesting chart The MA 21 (orange) acts as resistance The MA 200 (blue) acts as support We find ourselves in a falling wedge which means we can expect Bullish movement. However, since the RSI shows a Bearish divergence and we got rejected by the local resistance and top trend line of the wedge, my thinking is that we will drop once more to the support...

martinbrits28

A lot of sideways movement taking place and the pound finds itself on the current support. If the support holds we should see upwards movement to the resistance at D. We may either break through the resistance at D or come down one more time to E before turning back north.

martinbrits28

This may be a good time for EUR to bounce back. * It is at the bottom of the falling wedge - (Bullish) * It is at resistance - (Bullish) * RSI is oversold - (Bullish)

martinbrits28

GBP due to fall out of the wedge anytime soon. It may go down to the median which coincides with the 23.6% retracement and is perfect in line with a wave 4 retracement.

martinbrits28

I will not be surprised to see Gold bounce from the support to go higher and complete leg 5 of the Elliot wave count Currently it is forming a falling wedge (Bullish) to support this idea

martinbrits28 Updated 

A rising wedge on the 4hr chart implies a possible drop in price to the support line. This BEARISH move is also supported by the bearish divergence on the RSI

martinbrits28 Updated 

A 50% retracement will take the price to 1.089 while a 60% retracement will take it down to 1.083 There is also a rising wedge forming to guide it to the 50% retracement. Should it go past the bottom of the wedge a Bulls flag will take it to the 60% retracement

martinbrits28

According to my count we still have a leg up. Price action is taking place in the red ascending channel and a BULLS flag (orange) is also forming. The BULLISH move is also supported by the Bullish divergence (blue) on the RSI

martinbrits28 Updated 

The MA 40 on the weekly chart seems to serve as a sufficient support / resistance throughout the chart. Every time there is a significant drop below the MA 40 price action tempt to get back to it. Although overall price action is in a down trend i believe it will be heading straight back to the MA 40 as soon as the median of the descending channel is...

martinbrits28

Will price follows the orange ABC and goes to around $150 - $160 before it turns around and fall out of the rising wedge or will it follow the blue ABC and fall out of the wedge sooner. The reason why i think it will go to at least $150 is because of the two RSI support lines that coincide and it may again serves as support for a rise in price before it...

martinbrits28

Two weeks ago BTC fell back into the the blue descending channel like a hot knife through butter. Now it tries to break out again but the Rising wedge (purple) and the Bearish divergence on the RSI make me believe the top of the channel is going to be too strong to get through. BTC may first go down to the long term support (black) to close the gap at $3570 before...

martinbrits28

LTC/USD Good time to buy? * Currently sitting on a very strong support and most probably will bounce from here. * It has retraced exactly to 0.786 Fib line * At the bottom of he purple channel * At the bottom of a falling wedge * RSI only manage to broke the current support once before and most probably will bounce from here No Financial...

martinbrits28

USDAUD showing some Bullish signs 1) RSI - Bullish Divergence 2) Stoch - Oversold condition 3) Price action - Falling wedge 4) MA200 - Four (4) times in succession the price bounced from the MA200 - Will it happens a fifth time?