Following the previous idea on Bitcoin , it found the support at the projected area, bouncing off the $5873 low. Bitcoin also rejected the uptrend trendline very cleanly in addition with the 76.4% Fibonacci retracement level, and the price went up immediately.
The first psychological, as well as technical resistance at $10k, was successfully broken and now...
Currency pair EUR/AUD is very likely to continue its range between 1.58 and 1.56, where also the 100 period EMA function as a support. RSI follows price chart, showing no particular divergence or sell-off signal. The lower shadow on the support, instead, reveals that bears are particularly weak in that area.
Hello traders! At this moment USDJPY had a strong rejection from the bottom of the daily channel - 106 level. You need to remember that USDJPY is in a corrective structure right now. The correction is not over yet. Short term target will be inside the channel. We need to see how the price will behave inside this structure . If the price will not rise...
After the market moved to the upside, hitting the 2nd target for the previous Bullish Bat, the market now offering (according to the data provided by Tradingview) yet ANOTHER Bat pattern opportunity however to the downside! Please note!: check the data on your trading platform as though on here the requirements necessary to fulfill a Bat pattern have been met, on...
DXY Dollar Index
The DXY counter-rally (far left arrow) shows a 12 day
continuation pattern from 1st December to 12th before DXY
falls out of the parallels as the decline continues. The right-
hand arrow also shows a 12 day continuation pattern from 1st
February to 12th before DXY once again loses the parallel and
begins to fall away again. Having broken down...
Here I go at length discussing training channels. Especially flattened trading channels. It is important to note that sideways action is important - at least as important as the uptrends and downtrends. In my last video I show a "support cloud" and a "resistance cloud" (Those are my terms, I've never seen anyone else use them) and they are built by sideways...
Hello again traders!
As the title says, Bat pattern formations keep setting up for this pair of late (the recent two a potential anyway). For this one to complete, it would take quite a big move to occur first, if the pattern from my last post failed (The Bats Keep Coming (Bullish Bat Setup) post, don't judge for the spelling mistake lol!) then this would be the...
Hello traders,
Looking at another potential Bullish Bat for the GBPUSD. Stops and targets as per rule.
As always, this is not an endorsement to trade, this is just my opinion. Trade at our own risk!
Good luck in the markets!
This is an update from my previous chart.. but I don't have any idea how to update my chart yet... :-|
The point is that we're all looking for the bottom.. meaning the terminal end of the C-wave... have we looked at the proportion between the so called 'A'-wave and the C wave we are aiming for ? I would believe that we are still in the first correctional wave......
Hope this idea will inspire some of you !
Don't forget to hit the like/follow button if you feel like this post deserves it ;)
Indicators used in this forecast are PRO Sinewave & PRO Momentum .
You can check my indicators via my TradingView's Profile : @PRO_Indicators
Kindly,
Phil
If you want to learn more about the basic rules to trade with my...
