BITCOIN MIGHT FIND SUPPORT HERE!We're currently in a short term downtrend in the triangle which could end once the bottom has been hit.
These two major trendlines could give the Bitcoin support so pay close attention to the price action when the price comes close. Both trendlines started in the end of 2017 and gave the Bitcoin support for at least two times ever since.
Once the Bitcoin found support at one of the trendlines we'll make sure to give you an update!
Good luck!
#tradingfellow
ABCD pattern NZDJPYThis idea looks a lot like one of our recent posts we did about the USDCAD pair. The difference about this idea though is that we have an ABCD pattern that falls nicely into the bottom line of the descending wedge. To be more specific about this ABCD pattern: if you look closely to the 'C to D' part of the pattern, you'll see that point D is located at the 1.272 fibonacci extension of the previous down move from 77.88 to 74.08. The fact that point D also falls at the bottom line of the descending wedge makes this one pretty special and worthy posting for you guys.
We prefer setups witch technical confluences like this, because in these setups the probability of being right is greater.
ALWAYS make sure to test a strategy for yourself before you start trading it. Because when you do, you'll discover personal preferences in things such as ways to enter the trade or stoploss placement. These can be very valuable!
Good luck!
Long opportunity CADJPYThe graph shows us a recently formed bullish flag pattern.
It seems like the market could find support at the rising trend line and support zone as shown in the chart.
The support zone at the 85.50 price level has been tested several times and the rising trend line has held up twice already.
These factors combined gives us the expectation of a price increase in the medium term direction.
AUDUSD - KISS 'Keep It Simple Stupid'The 0.7635ish area we're focusing on looks probably messy, but that's for the sake of education. Having drawn those Fibonacci lines could give you an idea on how confluences work without the need of many tools, but just a line here or there.
Drawn from the long-term low in 2016 (zoom out!) to the recent high, we get the yellow 0.382 line.
On a smaller swing, we have the orange line that gives us the 0.50 fib retracement.
The even smaller swing gives us the red line which shows the 0.618 fib retracement.
And lastly, the dark red line drawn from the retracement of the top gives us a 1.272 fib extension.
The lines are formed within a 20 pip area and bounced off immediately. Showing more traders/investors are looking at this particular spot.
This huge Fibonacci zone plus an intermediate-term trend line showing support (first resistance, and when it breaks it should become support) gives us a high probability swing trade with potential compound entries.
We'll try to keep you updated on this ride.
Happy pippin'!
USDCAD long setupThe USDCAD pair has been in an uptrend in the medium-term direction. Recently this pair has been retracing since the 6th of October. This retracement falls right into the round 1.2500 level, together with a 61.8% retracement off the impulsleg and a forming AB=CD pattern this creates a solid buy setup.
Targets will be taken @1.2586
Stoploss beneath the entry point @1.2480
Happy banking!
NZDUSD long setupThis pair has recently broken the declining trendline to the upside and is currently in an uptrend.
The retracement of the latest impuls has created a support zone for stop loss placement.
The buystop order has been placed @0.7267, targets @0.7325 and the stoploss beneath the support zone @0.7218.
Happy banking!
EURUSD breakout setup A break of the resistance zone would complete a buy stop opportunity.
The rising trend line has been retested multiple times and has proved to act like support.
The buystop order has been placed above the resistance zone @1.1932, targets @1.2042 and the stoploss beneath the rising trend line @1.1849.
Happy banking!
BULLISH GARTLEY USDCADThis gartley pattern will complete @1.2906. The pair is currently trying to find support at it's previous lows and a rising trend line which should act like support as we're in an uptrend. So I'll wait how the market opens later today and see if I can place some orders for this one. For now it's wise to be patient i guess.
Good luck guys and enjoy your trading!
BEARISH CYPHER USDCADA bearish cypher pattern has been completed @1.2952. We have recently created a bearish pinbar on the 1H timeframe which is another indication for me to go short. This idea contains two fibonacci based target points, the 1st @1.2906 and the 2nd @1.2877. Let's see where this one takes us.
Have a good one guys!
CADJPY break of trend line sell ideaWe recently broke the trend line of the rising wedge to the downside. The wedge formed the retracement back into previous structure and found resistance at the upper line of the descending channel. We could see a continuation of the downtrend here. I'm already short. My stops are above the previous highs @81.90's. Potential profits will be taken at the previous low's @79.55's.
Good luck!
BEARISH BAT EURUSDWe're looking at a bearish bat pattern setting up @1.1203. The pair is moving towards our previous high's at the 1.12's which should act like resistance as we're in a downtrend. It's an even number as well so we might see some more downward movement. Let's hope we get filled short here.
Good luck trading guys!
BULLISH CYPHER USDCADJust places my orders for this cypher pattern in the USDCAD. This pair has been in a short term uptrend so we can definitely see another rally here. This setup contains two fibonacci based target points and a stop loss below X. Let's see what happens!
Good luck trading everyone and make sure to follow us for more ideas.