Let's play a game. Count the ascending triangles. Do you see them? There are 3. The first two are history. We obviously broke out. We are working on the the third and final. If we break above and close higher than this last triangle, we'll go to $4800. The second ramification of this potential breakout would be the formation of a new BULL channel. I've outlined...
The move up happened as anticipated hours after my last post on Litecoin. We recently hit $50 resistance and ran out of steam. You could've sold there if you were watching or had your trade triggers placed. We have and are now consolidating a bit and will continue to follow BTC before pushing higher. Over the next day or two I expect more sideways movement and...
Before taking a trade, always determine the risk/reward ratio and ask yourself if is it even worth taking a trade is risk is higher than reward.
Price rejected at important line, could either go up or down
hit my original target @115.9 & now shorting again to Daily Support @113.7
At the bottom of a clean ascending canal, one can only be tempted to go long, especially considering that 0.618 were reached, which indicates profits were taken. The presence of a Shoulder-Head-Shoulder, might result on a severe breakout though. The strategy would be to go long and stop loss at breakout, and possibly go short. Good fortune :)
See chart above for my thoughts. Please leave comments, good or bad below. I would love to hear your thoughts. Have a great weekend, Caleb
Green is a proving grounds for will the price say in the red channel we have created since august/september. If it breaks, adjust, if not look for drop to 9-10$ range.
How do we determinate which one is the correct channel? Is it the red or the yellow one? If the correct one is yellow, then the channel has been broken, a signal that we should start considering a short position, meanwhile if the right one is the red one, we could conclude that we are still going up at a steady pace and we would go long. Trying to learn! Please...
200 Ma is holding as good price support hence, expecting price to pull back and test daily resistance @ 0.78019 zone before continuation of downtrend and break of trend line for short positions for a lower low to be formed. If we fail to see a break of the ascending trend line and resistance @ 0.78019 zone is broken we may see upside movements towards 0.79000.
GBPUSD.. Defining moment for the pair to be seen around to 4050-6X zone.. i.imgur.com GBPUSD 4 hr -
This is a monthly chart of TWTR . The last candle on this chart is the January candle. January is only half way over so this candle will change from here. This idea is based on the candle that exists on this chart. I have no way of knowing what the January candle will look like at the end of January 2016... TWTR saw its highest stock price in December of 2013, ...