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382fib

GBPUSD SHORT ANALYSISIn the long run, we've been in a downtrend which means shorting opportunities is the goal. Using the Fibonacci from the previous swing high in the 1.24000 zone to swing low at 1.21563 we can see that we're having a pullback and expecting a bearish continuation at the 38.2 or 50 FIB levels which were previous supports turned resistance. Love to hear your thoughts in the comments. NB: This is not trade/Financial advice. Any position you take is of your own will and Money management is advised
Short
by King_Hyelx
CB Pro - Delaying The Inevitable For ADA? As an ADA holder, and someone who is general long on Cardano... I have loved the CB Pro hype. But I'm also worried that it's only going to delay the inevitable pull back from this last major run. Let's break down the 1 week candles. PAST The run that started last March (2020) ended in ADA being overbought for 77 days. As expected with an overbought stock/crypto - the price proceeded to correct. Price dropped down 46% and hit the .382 fib retracement line PRESENT The run that started in November 2020 has yet to have a major pull back During that run ADA has been overbought for 91 days The Stochastic RSI started to tick down (as expected) THEN THE CB Pro news drops and we get a major pump ADA still flirting in the overbought range... could still see a drop I'm worried that the CB Pro pump is going to give a false sense of security and we are still in for a bit of a correction. Maybe the CB Pro pump means the correction won't be as sever, but I don't think we are out of the woods yet. I would love to be proven wrong... but I would also love for ADA to go on discount and pick up some cheap coin!
KRAKEN:ADAUSD
by worldlyTacos81375
2
EURJPY: Support & Bat PatternThe EURJPY moves sideways last few days and this creates good opportunities for harmonic pattern traders. The market is going down today and if it continues and touches the support area at 130.64, there will be a setup for long. The price respected that level multiples times already and it is more likely it will do it again. The buying orders are usually placed at key areas and I assume there will be enough orders to push the price up. Moreover, there is a potential bat pattern formation, which will increase the probability of this trading setup. I will patiently wait the market to touch my entry level and then make a buy order. T1- 38.2% T2 – 61.8%
by Art_of_Trading
EURJPY - Long view, waning Bear?This pair has consistently tanked into a 1 day retracement zone of 115.07(786) to 117.001 (618). Seeing that much consistency against this pair means we could be chasing a bottom, possibly. A recent fib study shows a 1st stop 116.517 (382) did in fact stop a 1st run up twice earlier in the trading session. I am keeping an eye on that recent fib study to see if we break lower towards the larger 115.07 (786) price point or if we break that recent fib 1st stop 116.517 (382). If we break 116.517 then I plan to place larger bets into the Bull market.
Long
by j_nathan