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Albiontrader

BTCUSD BitCoin on a Gann Fan patternCOINBASE:BTCUSD have been trading in a Gann Fan pattern. This could be constructed starting from the TrendLines highlighted in previous posts. After a Bearish trend it partially reversed it by breaking above the 1/2 angle and then the price rejected the resistance at the 1/3 angle. Moving the chart to better look into future price action (and hoping this won't be too confusing) the Gann Fan applied to the bullish tentative of the currency highlights how this hit the 1/2 angle of the ascending fan, to then fall again under the 1/1 angle. At present we can see that the price is now trading in a wedge between the 2/1 angle and a former horizontal Resistance. As wedges/triangles tend to break out approximately at 80% before the vertex, I would expect some action early next week.
COINBASE:BTCUSD
by AlbionTrader
1
BTCUSD on a Support/Resistance level?COINBASE:BTCUSD had a good drop in the last 3 days. It now reached an area that can form a horizontal support; this would be the third touch so in case it holds we are going to see further move upwards. As a soft resistance, we can also look at the diagonal trendline in figure - even if on the 10 December there was not a real touch. Given the high volatility of the currency, augmented by several news in this week (and more to come by the end of the year), caution is advised. /********/ Original from my blog
COINBASE:BTCUSDLong
by AlbionTrader
XAGUSD looking for LONGXAGUSD has been consistently growing on the Weekly timeframe: We closed last week with an indecision bar; however, the fundamentals should point higher and the Daily timeframe is still on an upward trend, so this might be a physiological retracement. Let's see where the 4-hour chart brings this moment of indecision to see a clearer direction, which could make the price rebound to the upper trendline (also just below the 50% Fibonacci) somewhat below 18.40 The main trendline (violet in the chart) should anyway hold on the Daily.
FX_IDC:XAGUSDLong
by AlbionTrader
XAGUSD looking for LONGXAGUSD has been consistently growing on the Weekly timeframe: We closed last week with an indecision bar; however, the fundamentals should point higher and the Daily timeframe is still on an upward trend, so this might be a physiological retracement. Let's see where the 4-hour chart brings this moment of indecision to see a clearer direction, which could make the price rebound to the upper trendline (also just below the 50% Fibonacci) somewhat below 18.40 The main trendline (violet in the chart) should anyway hold on the Daily.
FX_IDC:XAGUSDLong
by AlbionTrader