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USDJPY With Several Evidences For A Potential Bottom FormationHello traders! Today we will talk about weekly USDJPY chart and we will show you many evidences for a potential bottom formation. Well, for the begining let's talk about wave structures from Elliott Wave perspective. USDJPY is in a downtrend since March, but the wave structure is slow, choppy and overlapped which we see it as a complex corrective W-X-Y decline and we know that once corrections fully unfolds, we can expect a reversal. The next very important evidence is an ending diagonal (wedge) pattern placed in third leg Y. The ending diagonal is a special type of wave that occurs in wave 5 of an impulse, or wave C/Y of a correction. This wave often occurs when the preceding move of the trend has gone too far, too fast and has run out of steam. An ending diagonal pattern is a type of pattern that can occur at the completion of a strong move. It reflects a “calming” of the market sentiment such that price still moves generally in the direction of the larger move, but not strongly enough to produce an impulsive wave. Ending diagonals consist of five waves, labeled 1-2-3-4-5, where each wave subdivides into three legs. Waves 1 and 4 overlap in price, while wave 3 can not be the shortest amongst waves 1, 3 and 5. The reason why they are so interesting is because they are indicating a reversal, usually a strong one. The next interesting evidence is that we are already seeing bounce and recovery with quite big weekly candlestick, completely covered the previous one, called bullish engulfing candlestick formation which also suggests a bullish reversal from the lows. If we also consider current break above strong weekly trendline, then with so many evidences, we can easily confirm a potential bottom and bullish reversal. Trade well! If you like what we do, then please like and share the idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Education
by ew-forecast
1
Have we seen the bottom?There was a substantial upward trend between 1942 and 1981 in the 10 years Us treasury notes. After that, a declining has been ongoing for 39 years. This cycle is getting to its end, and I can imagine that we had already seen the bottom of it in 2020, I think this despite the fact that the falling trend has not yet broken. Ok I know, now I am visioning a change of regime or a change of paradigm, but today's circumstance could create such a change. So I don't know if there will be moderate inflation or hyperinflation or something like that, but the 10year Us treasury notes should break out of this falling channel and after that, even the rising could accelerate. What should traders do if they would like to protect themself from inflation? For me short the bond market! Now I start to see the market very closely and searching for a good us bond market short ETF and getting involved in this market step by step. I don't know whether I am right, maybe just 2 or 3 years will come to this change(especially because the FED announced that they won't change this rate policy until 2023). But be aware that because if the time will come and you are not prepared then your money will be burned. I have just thought that I will share my vision of the next extremely adventurous years, and I am very curious about your vision and your solution Thank you for your attention!
TLong
by MoodandMarkets
Juicy Profits coming for XZC Today I went back looking at XZC chart after following this for a while. This is now looking very promising as we revisited ATL where we saw a convincing buy pressure. Here are a few points for going long IMO: PSAR flip is now giving a BUY signal Promising PA when we get to the lower support levels Higher Lows in RSI Finally getting ready for a further retest of the descending white trend line, drew from August's high BTC Dominance pointing down if rejected from current levels More cautious traders might want to wait for price to be back above EMAs (not shown here for the sake of simplicity) > I believe there are nice chances to see the 618fib tested in the coming weeks. > If those level are tested, then we are jumping back on the green ascending channel, and the party is gonna become even crazier. Feedback always welcome, best from Nips Not financial advice!
XLong
by Nipson
6
Danone, Quick Trade or Long-term Buy. Both work here.EURONEXT:BN is showing signs that it has already bottomed out and on its way up. We have a relatively safe trade here. RSI divergence suggests a reversal of trend. It suggests that the low of 29 October 2020 at €46 is the lowest Danone will reach in the short- to mid-term (few months). An ascending triangle is showing upward momentum. This suggests a target of €60. At €60, we see strong resistance that has contributed to major reversals in the past. So that's a line to watch. I suspect a reversal at this line back to the top of the triangle. Just above the €60 line is the 50% Fibonacci level from the recent swing. Crossing this 50% Fib indicates a stronger probability of returning to the swing's top rather than its bottom. If the resistance at €60 is crossed, then it's a very encouraging sign of the bullish momentum and we set our next target at the resistance above at €65. The trade should go like this: You should go long as soon as the triangle breaks upwards, and set a stop loss at either €51.50 or €50.50 depending on your risk appetite. If the first target of €60 is reached, then we raise our stop loss to the top of the triangle or slightly below it, perhaps at €53.50 Once we cross the resistance at €60 by a full daily green candle above it, we raise our stop loss to that level. Cheers.
EURONEXT:BNLong
by TechNerdOmar
3
Call Me Crazy, But I'm Buying HereHash rates may be bottoming here. Obviously Craig Wrights court case is something to speculate on, but the case has been pushed out until mid this year ~June unless it is once again pushed out. If evidence doesn't show that Craig is irrefutably Satoshi (Which is most likely the case) obviously that is bearish news. However slight this chance may be, that he is Satoshi, i am willing to take that risk. None the less if we stay in this channel the only direction is up from here. Good Luck And Safe Trading.
HITBTC:BSVUSD
by CapitulationCalls
9
LINK/USD LONG-LINK/USD is sitting on a long term uptrend support on the weekly -recently got very close to ATH but failed to break up and has had a large correction from $18.5 to below $13 -LINK is sitting right on top of 21 weekly moving average, it is very common for bullish markets to make a correction down to the 21 weekly moving average before continuing upward -Should LINK break above ATH it could enter a price discovery phase and begin going parabolic as we have seen with many other coins over the last several weeks Good luck and happy trading
COINBASE:LINKUSDLong
by sawyur
1
BTC - time to fear or time for greed ?Hello guys, Last night was tough for us all BTC buyers as the $40,000 level was way too windy for us to stay too long there. The first drop to the zone below $34,700, which I considered to be also the first serious test down, resulted in a lot of long positions being drowned. That level, in my opinion, was strong due to the combination of horizontal and diagonal indicators on the 4-h timeframe chart. So, once it was breached yesterday, it was just a matter of time before the weak hands were taken out of the picture and a full candle down is formed. And this is precisely what happens today, although there is still plenty of time to close the daily candle, I don't see it coming back at least until tomorrow. We are used to seeing some bloody Mondays and this one is not an exception. I opened a few positions myself today morning European time when BTC temporarily recovered to $36,000, but I guess I was too optimistic, so 7 percent underwater by the time I write this. So, bullish case - BTC hits $32,000 and the 100-day EMA on 4-h and finds support there, hopefully, consolidate there, so we can see some more longs opened that can trigger the reversal. A lot of long, emtpy wicks here, which usually suggest an inconsistency in the trend and lack of solid seller power (in our case). The Fibb 23.60 retracement level supports the $32,000 theory: Bearish: I think the blow-off-top-looking all-time high we saw is speaking for itself. This could easily be an end of the cycle for now. Also, taking into consideration Biden coming into power next week and the whole "buy rumor, sell the news" thing. Another thing - have you recently looked into the Dollar Index ? Does the below ring a bell ? Regards,
BITSTAMP:BTCUSD
by FutureBlockchain
1
LTC ready for $250 again!? Welcome fellow Tradingviewers, In this analyses we are going to show you our view on the current market situation for Litecoin. We were going to share a full video on the yearly analyses with you guys but our Mic. Broke down. we will try to educate you guys using a video as soon as we replaced our mic. This analyses is going to be the first in a series of 7 where we try to give you an idea of what it is like to try and analyse a cryptocurrency for 12 months. This analyses is based on the impressions we get from the chart and the cryptocurrency market in general. For this analyses we will be using the 12M, 6M, 3M, 1M and 1W charts. Every month for the next 12 months we will release our monthly market breakdown. If you want to receive daily and weekly technical analyses you might want to check our website . We will be analysing LTC using a top-down strategy, including candlestick patterns, indicators and price patterns. Yearly: We are still inside the first huge Litecoin Yearly candle located in 2017, we did not close the year as a Bullish engulfing (as Ethereum did) but we did close the yearly candle on higher volume and a green candle, indicating upside momentum. 6 - Month: The Six month graph is one of the most promising for Litecoin. In this graph we can clearly see the closure of one of the biggest bullish engulfing 6M candles till now. The previous candle was a indecisive doji candle and this gets engulfed by our last candle closure on higher volume, indicating strong confidence from the bulls side. 3 - Month: The 3 month candle is showing about the same bullish picture for LTC, we closed as a huge bullish engulfing almost closing above the important $150 dollar resistance. Monthly: - The monthly starts giving us a better picture of the medium to long term trend. - We closed the monthly candle above the important $120 resistance. (One of the most important looking at the monthly graph) - We are above the 50 MA monthly indicating confidence in the markets. - The MACD has just crossed bullish indicating upside momentum. Weekly: - We closed as a bullish engulfing candle indicating more upside momentum. - We closed above the important $150 double bottom Neckline and retested it. (at$140) - We are well above all Moving averages. - The MACD is in bullish territory. In summary: Litecoin seems to be broken out of a double bottom pattern with the neckline located at $140. These patterns generate price targets and if we measure the distance from the bottom of the double bottom to the upside, then our price target would be in the $275 range. Our first real target is $220 and then go for our double bottom target of around $250 to $275 based on the 0.618 fib. which can be found in the chart. The coming year will be good for Litecoin, Bullruns can be crazy times where people are starting to feel all kinds of different emotions. try to keep your emotions under control and let the chart be your guidance. Only trade what you see and don't forget to take your profits! This analyses is only intended to share my idea, to educate and entertain you guys. This should not be considered as financial advice. I hope you guys enjoyed this analyses, if you did don't forget to leave a Like ! If you want to share your thoughts, please do so in the comments below! Kind Regards, Frank | Forallcrypto
COINBASE:LTCUSDLong
by ForAllCrypto
1