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Short Term
We look to Sell at 22.15 (stop at 23.35)
Posted a Double Top formation. Bias is mildly bearish today but we need to see a break of 21.25 to confirm the downward pressure. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 22.15, resulting in improved risk/reward. The previous swing low is...
Bitcoin
Intraday - We look to Sell at 20299 (stop at 20626)
20300 continues to hold back the bulls. Daily signals are mildly bearish. Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end. We look for a temporary move higher.
Our profit targets will be 19404 and 19004
Resistance:...
On H4, with the price moving above the ichimoku cloud , we have a bullish bias. Looking for a breakout buy entry 1.00710, which is in line with the previous swing high, 127.2% fibonacci extension and 161.8% fibonacci projection to the take profit at 1.02369, where the previous swing high is. Alternatively, the price may drop to the stop loss at 0.99549, where the...
On the H4 chart the overall bias for DJI is bearish. Looking for a potential retracement sell entry at 12906.26 where the 23.6% and 50% Fibonacci lines are. Stop loss will be at 13564.83, slightly above where the 61.8% Fibonacci line is. Take profit will be at 11862.84 where the previous low and 0% Fibonacci line is.
Please be advised that the information...
USDJPY
Intraday - We look to Buy at 147.67 (stop at 147.07)
The primary trend remains bullish. The continuation lower in prices through support has been impressive with strong momentum and shows no signs of slowing. Dips continue to attract buyers. We can see no technical reason for a change of trend. Preferred trade is to buy on dips.
Our profit targets will...
On H4, with the price moving above the ichimoku cloud, we have a bullish bias that the price may rise from the buy entry at 1.00710, which is in line with the previous swing high, 127.2% fibonacci extension and 161.8% fibonacci projection to the take profit at 1.02369, where the previous swing high is. Alternatively, the price may drop to the stop loss at 0.99549,...
On H4, the price is above ichimoku cloud and testing the buy entry, with the price crossing the descending trendline, we have a bullish bias that the price may rise from the buy entry at 93.901, which is in line with the overlap support to the take profit at 105.142, where the swing high is. Alternatively, the price may drop to the stop loss at 89.971, where the...
BLACKROCK
Short Term - We look to Sell at 602.67 (stop at 646.89)
The primary trend remains bearish. Sentiment remains negative despite the pull-back higher in prices. Previous support at 610.00 now becomes resistance. Resistance could prove difficult to breakdown. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back...
Ethereum
Intraday - We look to Buy a break of 1338 (stop at 1313)
Prices have reacted from 1188. Short term momentum is bullish. There is no clear indication that the upward move is coming to an end. A break of the recent high at 1337 should result in a further move higher.
Our profit targets will be 1397 and 1437
Resistance: 1350 / 1380 / 1400
Support:...
GBPUSD
Intraday - We look to Sell at 1.1485 (stop at 1.1580)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. We are trading at overbought extremes. A Doji style candle has been posted from the high. A lower correction is expected. Previous resistance located at 1.1495. Preferred trade is to sell into...
On H4, although price has rebounded from the support level at 0.9680 levels and moving in an ascending manner we are still overall bearish bias. we're looking for a pull back sell entry at 0.9919 where the 61.8% projection sit to take profit at 0.9680 where the swing low and 61.8% projection sits. Stop loss is placed at 1.0050 levels where the previous swing high...
The overall bias for DJI on the H4 chart is bearish. In addition, the price is below the Ichimoku cloud, indicating a bearish market. Look for an immediate sell entry at 30033.46, which is the 23.6% Fibonacci line. The stop loss will be set at 30840.50, which is the 382% Fibonacci line. The take profit point will be at 27215.49, which is the -27.2% Fibonacci...
On H4, with the price moving above ichimoku cloud and within the ascending channel, we have a bullish bias that the price may rise from the buy entry at 1.37814, which is in line with the 61.8% fibonacci retracement and overlap support to the take profit at 1.40315, where the 61.8% fibonacci projection is. Alternatively, the price may drop to the stop loss at...
On H4, the price is above ichimoku cloud and testing the buy entry, with the price crossing the descending trendline, we have a bullish bias that the price may rise from the buy entry at 95.650, which is in line with the overlap support to the take profit at 105.142, where the swing high is. Alternatively, the price may drop to the stop loss at 89.971, where the...
SOUTHERN COPPER CORPORATION
Short Term - We look to Buy a break of 48.98 (stop at 45.51)
Price action produced another positive week, last week. Trading within the Wedge formation. The bias is to break to the upside. A higher correction is expected.
Our profit targets will be 58.22 and 60.00
Resistance: 48.90 / 60.00 / 80.00
Support: 46.80 / 42.00 /...
Bitcoin
Intraday - We look to Buy a break of 19251 (stop at 18881)
We are trading at oversold extremes. Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. A break of the recent high at 19250 should result in a further move higher.
Our profit targets will be 20232 and 20732
Resistance: 19250 / 19500 /...
On H4, with the price moving above the ichimoku cloud, and the US CPI data coming out today, we have a bullish bias that if the price can break the buy entry at 1.38266, where the previous swing high is, the price may rise to the take profit at 1.40315, which is in line with the -23.6% fibonacci extension. Alternatively, the price may drop to the stop loss at...
USDCAD
Intraday - We look to Buy at 1.3750 (stop at 1.3690)
Previous support located at 1.3800. Previous resistance located at 1.3850. Indecisive price action has resulted in sideways congestion on the intraday chart. Risk/Reward would be poor to call a buy from current levels.
Our profit targets will be 1.3870 and 1.3900
Resistance: 1.3850 / 1.3870 /...
