BluetonaFX - EURGBP Triangle Break LONG IdeaHi Traders!
There is a potential triangle break to the upside on the EURGBP 3H chart.
The price action looks very bullish; we have highlighted the downside rejection candle to take it above the 20 EMA. The market has also been swinging higher with high lows and higher highs.
We are looking for further momentum to take us above the resistance area around 0.86064 and 0.86110; we must break this area and stay above the 20 EMA to continue upwards.
Trade safely and responsibly.
BluetonaFX
Chartidea
BluetonaFX - EURUSD Trade IdeaHi Traders,
There is a long opportunity on the EURUSD 4H chart. The market recently closed out the falling price wedge and is indicating a possible retracement to the supply zone, as the market is likely to be oversold at this point. This is also supported by the market breaking and closing above our 20 EMA. There is an opportunity for a long entry near the 20 EMA and to exit towards the supply zone.
The supply zone area is 1.07582–1.07691.
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Thank you for your support.
BluetonaFX
GBPUSD TRIANGLE BREAK 31/05/2023 IDEA UPDATEHi Traders!
Our GBPUSD triangle break idea on 31/05/2023 broke out but not in the direction we anticipated (PLEASE SEE LINK TO ORIGINAL IDEA BELOW). After a support test to the downside of the triangle, we had a very strong bullish momentum swing to the upside with a break and close to the upside of the triangle resistance.
Our upside Vector resistance level of 1.23467 did come into play and we have had a slow down to the bullish momentum around that level which we have highlighted on the chart.
This idea is why we always consider both sides in our analysis and proof that you should NEVER get attached to a view. If you do have a view on a trade, ALWAYS consider the other side and adapt.
PLEASE NOTE: LATER TODAY, THE NON-FARM PAYROLL (NFP) WILL BE ANNOUNCED THEREFORE THE MARKETS WILL BE VERY THIN, SO PLEASE TRADE CAREFULLY!
Please remember to follow, like and comment.
We appreciate your support.
Trade safely and responsibly.
BluetonaFX
Where does BTC go from here?This chart has been drawn out by looking at the 2014 and 2017 tops and looking at the % difference between the 2017 LOWS comparing to the 2014 top.
Taking this difference, we can say from 2017 top we have a potential LOW for where we should be sitting at for a bear season low.
From there we can say the rally between 2014 and 2017 was 1400% which puts us roughly at $306,000. Calculating the down side in the 2017 bear season, it fell roughly 87%, if we are saying $306,000 is the top, then 85% retracement would put us roughly in the $42k BTC range.
Enjoying this cup of coffee along for the $RIDEAbsolute beautiful Cup & Handle formed after reverse head & shoulders. Also, I love using my ABC's :)
$XBT slowly gaining momentum. Short-term analysisAs we can see at the moment this one looks quite side way after recent pump of tether issue. We nee to be careful on this setup as there is no ultimate sign of things will go up and down and it's quite hard to pick which way the price can go.
6 recent candles forming up a quite equal bear and bull power on the market. Plus it's on the middle of BB line.
We need a strong fundamental issue to move the price up and strong fundamental fud to make the price go down. BAKKT will coming in November, let's see in a couple of weeks we can get back to $7k again.
My bearish prediction will be $5700 - $5800 is the ultimate bottom of the year and we probably never see this price again as the demand increase soon.