Important things to note:
BTC is showing oversold on 1D timeframe.
BTC has retested previous low like I said would happen in my last update.
BTC has either found its bottom or retest 42k before heading up.
On chain data shows typical weakness but nothing indicating a bear market.
Total2 and 3 both look like they are near the bottom.
Structurally, the alts don't...
Hello traders:
Similar bearish price on NZDJPY, as we have the same expanding structure that hits the higher time frame double tops.
Price failed to continue higher, instead, bearish reversal price action on the lower time frames.
We see a clear bearish impulse phase down, now there is lower time frame consolidation, good signs of further bearish...
Hello everyone:
Last JPY pair on my watch is AUDJPY which is also showing signs of bearish reversal development.
After the price has hit the higher time frame highs, no bullish continuations.
Instead, price reverse down with bearish price action on the lower time frames.
Lower low, lower high to push the price down, and finally a strong impulse phase to...
Hello traders:
Few of the JPY pairs I was originally looking at had some bullish development few days ago,
but in the last day or so have develop more into some reversal bearish price action.
Here on USDJPY, we can see price has formed into a nice Head and Shoulder
Pattern at the top of the current price action.
A previous swing high, double top as well to...
Hello traders:
We can see GBPJPY's price is currently at the bottom of the overall HTF expanding structure.
How price is developing at the bottom is the key to identify and confirm the possible bullish price action.
We can now see a potential double bottoms, and a descending channel, good signs of the bullish reversals.
Best to wait for price to commit to...
Hello traders:
Few weeks ago I was more looking at AUDUSD to continue the bearish trend to the downside.
However once it hits the higher time frame previous lows, price failed to continue lower.
Instead a bullish reversal impulse phase up on the lower time frame,
and formed into a inverse Head and Shoulder reversal. Good signs of bullish price action.
We...
Hi traders:
Similar like AUDUSD, here on AUDJPY its showing us the same reversal price action.
After hitting the previous lows, no further downside from the price, instead a sharp bullish reversal impulse up.
We can now see an inverse Head and Shoulder developed, and currently forming the right shoulder.
Same approach to look for confirmation would be waiting...
This is a major pattern I know for a long time.
Wash & Rinse, push back again to scare the week hands and then take off in the opposite side again.
I post this chart as a "empty" chart on purpose. And I will follow up with the market included.
Just step back a bit from your screen and soak it in.
Then analyse the follow up charts.
This will be a wonderful...
Upside is potential for AU.
I personally, cannot justify bearishness on AU until 0.72272 is met.
It just wouldn't make any logical sense to me.
Longs are valid when the low at 0.70899 is violated, that's the trigger.
Stops would have to be at the lows around 0.69928.
Hi everyone:
Few weeks ago I was more looking at the JPY pairs to continue its strength and bearish move.
Instead last week we slowly see some reversal development across the market.
To be what I see now on CADJPY is price did not continue after having a strong bearish impulse on the lower time frame.
The correction that I thought would be bearish...
Hello traders:
Also seeing further strength from NZD pairs as most are show clean signs of reversal price action.
Here on GBPNZD, after price hits a previous swing highs as a potential double tops,
we see a "M" style pattern reversal as well as a rising wedge reversal structure.
All these are good indication of a bearish reversal in the making
Latest...
Hi traders:
After an exhausted bearish price, it seems to me now most AUD, NZD pairs are looking to have reversals in the market.
We can see a possible HTF swing lows, and price on the lower time frames formed into a descending channel reversal.
All good bullish price action in the making.
Good to look for bullish continuation correction for the the next move...
