CHXEUR:GLENL is showing a possible inverted H&S in D1 time-frame, that could be in line with Monthly trend continuation on the long please let me know your comments.............
After placing down this channel, I scrolled out to see and NEOUSD has never broken the 1.618 fib in this channel. That's bad. Nearly double topped on the RSI but 70 was not hit, but stable above the 0.618 retracement. Uptick on the RSI as of writing. I am currently in a long, hoping that it'll pop up above $120. As of writing, it looks like BTC is going to make...
Here's another look at BTC's current situation, I alluded to bear traps in my last double bottom update. Here, I zoom in on the 30min chart to show exactly what I'm referring to. This short uptrend bounce has been very hard fought. It's almost been painful to watch. The last two bull flags didn't break out until about 79% of their own retracement. Now, I think...
What can the market do to trap people to the wrong side and then go where you thought it would be going? This scenario is pure speculation, but a way it could play out, if you are looking for a retest of the low (10.000). Whatever happens, always pay attention to the short-term trends (inside ranges)!
broke down from the trend that most would draw and assume a retracement or even bear however, even with a lower break out of the fib channel it will still be within a setup for a megaphone bull break out. Elliott wave analysis of the megaphone happened to be aligned with a 50% retracement of the December run at the end of wave 4 though this wave passes through the...
Instead of breaking to the downside, a bear trap has been deployed. BTC could now go higher? Watch and wait.
*We are still in ALT bull run* If there's any news about regulation in USA or Ethereum takeover the first place then we can dip upto approx 8k. If there's a china mining ban or Korean rumours to ban crypto we could easily dip upto 5K otherwise we'll still be in ALT coin bull run. Personally we will still touch 11k-12k as the BTC is still bearish overall. “Be...
We don't analyze this pair many times, but I noticed possible head and shoulders pattern forming on 4h chart. Head and shoulders is a reversal pattern that, when formed, signals the security is likely to move against the previous trend. Price just need to form right shoulder. Please keep watching for the updates.
Take note of the opening price today. If prices closes above the day high of Friday candle, it validates a bear trap where people were trap in shorting usdjpy when it breaks below 108.50 and now it reverse back trapping them, but we need to see if it close high today to confirm
Crude is at a key trading point. Given the overall bearish tone on the oil market I'm suspecting we might see a short squeeze before moving lower longer term. Week target is $49.10 with a low capped around $45 per barrel. Lets see what the week brings! Note: All ideas shared here are for learning and understanding purposes only. Any trade taken on this...
Easy break through zone for silver where cloud made a thin area to break, Caution though, simple breaks like these do not provide strong data on whether to continue long or short. CTF bouncing on lowest level and testing its strength against trend lines be ready for anything. --------------------------------------------- CTF - SILVER -No Trade action until...
A higher high gives confirmation for this entry
Hedge the Wedge Looking for a nice short here
As you can see we saw a bounce at the 0.382 fib level. In order for the price to proceed to higher highs gold must retrace itself and this was a healthy pullback. Target should be 1300
The daily as well as the strong support in 2050-2100 area provide strong indication. Sidelining until a decision, which will most likely be depending on the question if bitcoin (chart in comments) can breakup.