Analysist
Has the Nasdaq (Market) Topped? I find this long term chart of the Nasdaq Index with Fibonacci extension levels applied, to be quite illuminating. For me it puts things into a helpful perspective.
By no means am I a "perma-bear" but I find this chart helps me to be honest with myself. Especially if I'm wanting to put money to work in this environment.
Prices have extended well beyond previous year's moves and have reached those magical fib extension levels of 1.618 and 1.78.
You may not agree with the method of analysis, the method of I've applied the fibs, or whatever....but I think most technical analysts could agree that these levels of extension often coincide with significant reversals. I'm not "talkin up my book" here, as so many seem to do on these forums, etc. Just some food for thought, and take it for what it is worth - just another opinion.
The big question now is where does a bottom form? Fortunately price, volume , sentiment, etc. will provide the appropriate clues at that time.
Still listening to MPC and waiting at $7500!? Don't miss out YO!Quick update on the BTCUSD market for the short term. Some analysts will have you guys waiting till you are old and grey at unrealistic SHORT TERM targets.
We can see a lot more positive fundamental news coming out this weekend and the chart is reflecting that confidence.
We can see that there is a nice channel building and the RSI is ticking higher confirming, at least on the very near term, that the bulls are here.
We have some bullish candlestick formations within our channel and I would expect a break above the channel to gather some good bullish momentum.
I think the futures closed a lot higher than many expected and this has summoned some confidence back into the market.
We broke out of our immediate down trend but prices are still getting rejected by the 10 MA, which could mean a bit more see-saw action in the 10500 – 12200 zone.
Please note there is heavy resistance around 13k and we will wait for that level to break to confirm a bullish trend.
SCARED ABOUT GOING BELOW 10k?
Here is the deal, to all those fearing the drop to $7500, set up some low buy order in those zones, should btc fall below 10k (some miraculous disaster), short that sucker with leverage and buy back even more lower.
Just take care your shorts don't get rekt while we prepare to test 20k again. ;)
Feel free to come and hang out with real Crypto traders for free.
Pound Yen Analysis We are going down Good evening everyone
From what I see if this top area holds , sellers will be in play as we have been creeping down slowly with higher lows and lower highs. My analysis is if the market breaks to make new lower lows then I will expect the market to at least hit my first tp and if the market breaks down further the other tps maybe hit in the process.
your friend Kris
www.mymentortv.com
Good counter trend trading opportunity Nice counter trend trading opportunity here. Why?
1. We have fibonacci confluence from a previous high @ 618
2. RSI is overbought
3. ABCD completes close by
4. We are at a strong trend line support
5. We also have a diagonal trend line resistance (not currently drawn on) which would support the shorting bias.
Depending on your strategy you might require some further confirmation such as a candlestick pattern or double top. That's what I require to take this on, there might even be some on the lower 15m time frame. Trade your plan guys and if you don't have a plan, best not to trade, not even on a demo account, it's wasting your time.
Feel free to message me with any questions and I'll try my best to get back to you. Appreciate any comments positive or negative ;)
Thanks!
EURAUD Bearish AnalysisI am selling this stop with a stop above the 1.4800 level
Looks to be a wedge peaking out at a resistance zone with some MACD divergence
The MACD seems to indicate that there was not as much strength in this recent up swing and perhaps bulls are losing momentum.
Could form a double top and perhaps a cup and handle price pattern.
If we reverse here this could be the correction wave after the big impulse 5 wave count
AUDNZD WAITING ON BREAKOUT 4HOURBreakout out of critical level followed up by a retest of that level and 61.8% fib level.
Stuck in a ranging market since the beginning of the month,
just awaiting a breakout to the downside confirmed by the careful use of MA's.
Looking for a downtrend towards target 1 at 1.03602 (monthly critical).
Price action at this level will confirm my further position or to capitalise on profits made.
Upon completion of this level the next to the downside would be target 2 at 1.02406.