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BTC Update 25 MAR. HUGE critical area.Imminent approach to $8400-$8470 is coming for bitcoin. After that, it will enter a critical area of huge proportions. Basically it can go anywhere from there. Personally, I WILL stay as far away from that area as I can. There are three major scenarios at play here: S1) GREEN ELLIOT WAVE It will reach 8470$ and bounce back up 'thus confirming the GREEN EllliotWave Must barely touch critical area no. 2) S1.1) OR it HITS $8600 area and bounces dwon again,'thus forming scenario S3) S2) YELLOW ELLIOT WAVE HUGE Second EW to be made. Can start anywhere in critical area no. 2. S3) RED ELLIOT WAVE This might just be another ABCDE correction, which is forming a descending triangle. Higher bounceback area might produce a ascending triangle, but it would be too messy to chart. Also might start in critical area no. 2) S4) ALL ELliot WAVES FAIL. (highly unlikely scenario). And we are returning to $7300 S5) Not everything fails and yellow EW bounces back at $7800 to make a nice 3rd WAVE. (but I doubt this one as much at S4 ) Critical Area No. 1 is where the fun starts. Either will stay in triangle trend, or it will break to form Elliot Wave. Make sure to follow me here, for more updates on this chart.
BITFINEX:BTCUSD
by reynar
EURUSD range-in-range effectGood morning, today i checked out the four-hour-chart and saw that range-in-range effect which we can see many time while the market is running sideways. This effect always has a big range, a small range in between that big range and a neutral area. Those three levels are mostly decisive for the next movement. What does it mean in this case? The market is currently in that neutral area. At this level i am not doing any trades since it is completely open whether it goes long or short. Thats why i am just spectating the market and wait for the moment when the market is leaving this area. If it leaves the area long i will focus at long trades only if it leaves short i will focus on short trades only of course. Whats the sense of it? The neutral area is mostly in the middle of the big and the small range. We know that we have a Ping-Pong-Game inside a range. So if the market is leaving this neutral area long/short it will mostly test the upper or lower range line. For example : if the market leaves the neutral area to the long side I could plan long trades with a target the range line from the small range. The small range lines will decide if the market entries the upper range or the lower range area. Thats why you can see that small range also as a "neutral area" regarding the big range if you only want to focus on trade with big range targets. Summary : i will wait for a break out of the neutral area to find possible long/short entries.
Education
by StefanKassing
2
EURUSD sell opportunityEURUSD after the breakout strong support level at 1.1700 went lower to 1.1570 and backed near 1.1700 where is now large sell area. After this, price slightly increased last low and back to sell area at 1.1660-1.1700. Looking for a higher timeframe charts EURUSD looks like it will continue fall. Also looking for a political and economic events in USA we are expecting that US Dollar should be stronger. We are waiting for a supply acitivation in sell area to open sell at a good price.
Short
by investsoft