AUDJPY LONG - Overall uptrend on higher timeframes
- Potential cross of 200/50MA?
- Small drop to reject 200MA and 0.786 FIB for an entry
- Higher highs/lows forming
50ma-200ma
AUDCAD LONG- Creating new higher highs and higher lows
- Weak CAD
- Cross of 50/200MA
- Pullback to 0.786 FIB and 50MA for entry
SPX Gives Bulls a glimmer of HopeAt first when the price action fell below the 200 MA on Friday, I was a bit nervous. Luckily we had a bounce back above the 200 hundred. Which then left the price action stuck between the 50 MA and the 200 MA. Leaving it a guessing game as which direction we might be heading. Oddly we have settled on a support line... which is the same suppot line when Biden accounced harris as his running mate. Yup, the 11th of August.. that big red candle I have circle. I'm not exactly sure what that means. But hopefully that wil be the last support line we'll see for a while. Which is why I saw it's a glimmer of hope. Yes, we've closed below the 200 MA on the 4 HR. Now we just need a comeback.
AAPL Fell to the 50
MSFT Fell tpo the 618
I think the worst is over... I hope.
NZDJPY reacts to 50 EMA and might break strong resistance NWNZDJPY is one foot on the path to strong daily resistance (dark blue). It stopped there twice and it also respected the level in history. Let us see what it does. I would like a little bearish Monday opening to get a good price and kickstart the upwards move mid-through the day.
Pinbar makes it unlikely to get 50 EMA price, but on an intraday basis, a good long can be caught and perhaps even held for a few days. There is also 50x200 crossover, so I suppose crossover traders might be boarding and eventually push the price even through the blue zone.
NZCAD SHORT- H&S formed, and price broke through it
- Want a pullback to the 0.382 FIB which is
around the neckline area
- That would line up with the 50 and 200MA on
the 1HR
- Rejections of those would be a good indication
to go short
CADCHF LONG- Strong bullish candle on the daily, with a break
of the 50MA
- Break of descending trendline on the 4HR
- Looking for pullback to 0.382, ideally further down to the 0.618, lines up nicely with the MAs on the 1HR and 4HR
AUDJPY LONG- Higher highs and higher lows
- Pullback to the ascending trendline which lines
up with the 0.382 FIB and 50MA
- Rejection of this would also line up with 1HR 200MA
CADCHF SHORT- Lower lows and lower highs
- Below MA's on all timeframes
- Rejection of 0.382 FIB
- Failure to close below 50MA on the 1hour
CHFJPY LONGFollowing the break of the previous ascending TL, we saw some short term bearish moves,
but failure to close below the 200MA
We have since had higher highs and lows created, forming a new uptrend.
Looking for a pullback and retest of trendline, 0.618 FIB and 50MA before going long
AUDJPY LONG- Higher lows
- Break and retest of descending trendline, forming a new uptrend
- Rejection of TL, 0.382 and 50MA on 4hr and 200MA on 1hr would be ideal entry for a buy.
AUDJPY LONG- Higher high and higher lows
- Break and retest of descending trendline, forming a new uptrend
- Rejection of TL, 0.618 and 50MA on 4hr and 200MA on 1hr would be ideal entry for a buy.
SBSW & PLG breakout coming Two platinum/palladium miners that are set to catch up with the broader market rally.
SBSW: Above its VWAP from recent peak, VWAP from February peak and VWAP from March low. Also consolidates above 50 EMA which found support at the 200 EMA and is now pushing price higher. I have removed the 5 and 20 EMA in order to see the VWAPs but please add them to your own chart and you will see they are in a very bullish position.
PLG: Still has some work to do consolidating below the 200 EMA and VWAP from recent peak, while above the 50 EMA and VWAP from Feb peak/March low. I have picked the $1.70 level as the final resistance level. I am going to watch SBSW as it is technically closer to a breakout, and if the breakout occurs, PLG has a very high probability to move higher.
BTCUSD Weather Forecast; a Bearish rainy Memorial Day Weekend On the 4 hr chart, BTC has printed a Bear Flag or (ascending bearish wedge ), and also about to run into the converging 50MA & 200MA. It is testing the bottom of our 2.5 month long, ascending recovery channel, the RSI is showing us Bearish Divergence since about April 30th. We could easily retest 8200 and step down to 7700 & 7300.
NZDCAD SHORTWe have had a rejection of the 50MA, if we get closure below the 200MA and 0.786 FIB, will be looking to go short on this pair.
GBPCHF SELLLovely long wick rejection from the 0.786 FIB and descending trendline.
Would like to see break of the EMAs to confirm a short position on this
GBPCAD SHORTBreak and retest of ascending trendline, rejection of 50MA, 0.618 FIB and the previous support, now turned into resistance zone.
Looking for a sell down to the 200MA which lines up with previous descending trendline
AUDJPY ShortRejection of both 200 and 50EMA on the 4hour, as well as break of the ascending trendline.
On the 1hour we have had several rejections of the descending trendline
BTCUSD; A Fork in the Road BTCUSD has come to form nice Bearish Wedge on the Daily Chart. We must be very close to a direction decision as we are now being 'pushed up against the wall' of the 50MA & the huge downtrend line of resistance at the same time, both of which we have basically bumped our 'noggin' on 5 out of the 8 last days...
Also in play, what could be considered the Left Shoulder and Head have formed, now we're possibly headed down to $5800 range support for the beginning formation of the Right Shoulder.
Volume is dwindling as well. All of this looks Bearish, but the market is so tricky these days with all that's happening in the world with Economics and Pandemic issues.
Either Bitcoin will bust through the 50MA and Downtrend line and ascend to the $8000 range / 200MA area or begin to descend to $5800 support.
What's your sentiment?
Likes & Comments appreciated,
Thanks,
-HP
RSI "DEATH CROSS" & "GOLDEN CROSS" during Pandemic VolatilityJust a quick idea that shows how, as the Covid-19 crisis worsened, the RSI "Death Cross" clearly indicated the huge drop off in price that was about to occur.
Conversely, despite record unemployment claims in the US, when the RSI "Golden Cross" recently occurred, the price was able to break through previous resistance.
EURUSD - Easy Pullback & Trend Continuation SetupHi Traders!
The market is in a strong uptrend.
As you can see, the market is in a healthy uptrend since 20th February.
From then (price was around 1.08000) the market started moving up.
After that the market made a retracement move.
It retraced from the first pik (1.11800) towards the support (1.11000).
Then the market moved up again and made the next higher high (1.12000).
The market even did a so called "Golden Cross" and this could be an important signal for many traders.
Now it is back on the support again.
We recommend to buy the market because of the strong uptrend.
Thanks and good luck :)!
Bitcoin - In the next 24 to 48 hoursAs traders what we want to know is if we have hit the bottom or if we are going up, or are we going to fall some more. On the post I did on the 22nd I told you we were going to fall in a matter of hours and we did. Check this out, there are 3 keep spots we need to keep an eye on to see if we are going up or down. I know the answer but I would like to hear from some of you. The chart above shows you the new battleground. If BTC goes and closes below either of those support lines in green that will show weakness and it is time to go down some more soon. If for the last few months we've done nothing but lower lows and lower highs what should your trade strategy be?
This is the next thing to keep an eye on:
If the yellow trendline 50MA goes under the white trendline 200MA (Which is almost a done deal) then we are going down.
This is the last place to keep an eye on:
If we close a candle under the green trendline that means we are going down as well.
So the specific question is this: Would you put money in right now?
THE TREND: Going Down a little more
THE OUTLOOK: Safe to buy a percentage of BTC wait a bit more to buy-in.
Bitcoin/ US Dollar 1D BitfinexFirst, acknowledgement to Trading Shot post (linked below) which influenced me on some of my 50/200 MA calculations and understanding (and hopes!):
Thank you Trading Shot
Factors I'm watching:
LTC as a leading indicator - which I've been doing for about 2 years.
Standard Fib ratios. .618 my favorite and coincides with red TA line (discussed below). I personally love it when the big players pierce the Fib lines for psychological reasons.
Basic TA lines - note the red support line - which is supportive of the previous BTC 200/50MA scenario.
10/20 Day MA correlation. Really weak right now. they run almost parallel - for some time now.
Note: I'm always long on BTC (since this time last year), but my chart, in its current form, supports the thesis of a dip (not 'crash') this summer. However, I will readily admit, that if BTC spikes, I'll be seeking to catch and buy in FOMO'sih. I'm talking small amounts, as, I'll want a bit more - just in case BTC breaks the massive resistance indicated by my grey shading.
My buy areas are green ovals. I always have discretion to not buy, based on Human Factors, news, gossip, FUD, etc. Those ovals are guides and visual reference points only.
