GBPUSD Descending Triangle, Possible Continuation PatternGBPUSD Descending triangle, possible continuation pattern. Looking for a breakout to the upside to confirm. Stochastic is heading into oversold territory, a bullish crossover below 20 would add some confirmation momentum is shifting back to the upside.
Continuation
Bitcoin to $1k (The doomsday idea you're afraid to consider)This is a very unpopular view and I've already been told off by countless perma-bulls, but hear me out here. This is the doomsday scenario for BTC, displayed in a no-BS way. You likely haven't seen this view yet due to people not wanting to believe it can be possible, but take a look with an open mind and see for yourself. This chart highlights the possibility of continuation down from the 6k breakdown. At the time of writing, this would put us currently at the top of a large symmetrical triangle which is a continuation pattern, especially in this case where it's supported by the decreasing volume and rising RSI trend throughout. Following through with this pattern and ultimate breakdown will result in what I would start to call a bottom on BTC. Here's what I see for targets based on this:
Short term target: $3550 (Bottom bound of the triangle. We are currently at the top bound and ready to make this drop to the bottom bound. I estimate this to happen during the week of writing this.)
Full breakdown from triangle target: $1000 (Technical target, but could very well halt slightly above this such as near $1,200. This is the ultimate destination and a likely bottom.)
Timeframe for breakdown from triangle: April-June (This is a rough estimate, I mainly expect some action to occur in early May as we reach the tip of the triangle. The main fall will likely happen fast, get ready.)
These are my opinions based on personal observations, don't take my word as direct financial advice. Keep an open mind and just realize that this is a real possibility. I'll be updating this as we make progress. Good luck and be careful.
-Ethy
BTCUSD: Best Fit Ascending Triangle Suggests ContinuationA best fit ascending triangle and volume suggests that we will see some continuation; beware, trading this pattern carries a high risk of fakeouts wait for volume to confirm and set tight stops. (Entertainment Only)
On a personal note, I have updated my current entry/exits and no trade zones.
USDJPY Continue ShortFrom the previous idea that i had
Another opportunity has come up.
Just entered another short on the marked location, we have a break and retest of the black line, wich goes back as an important 4h zone, a retest of the blue EMA with high momentum, and a bearish closing candle near the line.
The big one has stop loss adjusted, the new smaller one has a tight stop because of the NFP of today.
Continuation Demand For Buy Position On USDCHF 07/03/2019The USDCHF price created a new fresh demand 2 days ago, it looks like a great continuation demand for buy position, for now, the price compressing down And as long as the price keeps compress toward the demand, it's better for us, it indicates the price move down without a real sellers power, therefore, if the Price keep that way, I'll buy at the demand below. I'll consider this position as a swing trade.
Continuation Demand Level For USDCAD 03/03/2019The USDCAD created a new fresh demand below, as we can see the price made a great rally from that demand, for now, it seems the price on his way to reach 1.3600, if the price will back to visit the demand below, I'll buy there and my target will be 1.3600 zones,
GBP/USD - Uptrend Continues?Hello traders,
GBP/USD is bullish and we are looking to enter the uptrend on trendline and 0.5 FIB Level.
As always we only enter the trade after confirmation (bullish) price action.
We have a 3.05 risk/reward wich is good and good technicals also.
Dont forget to leave a like if you like this analysis!
Rodrigo FAC
Short USDMXN inside monthly swingHi.
looks like USDMXN in a critical zone and the last daily upswing failed to comntinue after hitting very important resistance zone .
The purpose of this idea is to be aware of the potential big move ahead of us .
personally My plan is to take short using intraday techniques but you can use your own and take advantege from this big move .
best of luck :-)
BTC: Possible Bearish Continuation PatternBasic Trading 101
- Bearish pennants are continuation patterns that mark a pause in the movement of a price halfway through a strong downtrend.
- They occur just after a sharp drop in price and resemble a triangular flag as the price moves sideways, making gradually lower highs and higher lows.
- The downtrend then continues with another fall in price.
BTC seems to be forming a bearish pennant.
If Bitcoin breaks upwards from this pennant, we could expect the price to retest the 200 Exponential Moving Average.
If not, it could drop down the the blue area of the chart.
Looking at the 1 hour time-frame, we can see a bearish divergence on the RSI, indicating the possibility of a price drop to the lower line of the pennant, which would further indicate the validity of a Bearish Pennant.
GBPJPY - Long - Daily Chart - MACD Continuation TradeEntering on a bullish MACD cross while ABOVE zero-line , signaling bullish continuation.
Note that I use MACD ONLY for continuation and do not attempt to find reversals using the MACD as I do not find it to be very accurate in FX
Trade is on the daily timeframe and has a 1 ATR stoploss (148 pips), 1ATR target 1 where I take 50% of my position off and move stop to breakeven, then I use a trailing stop following the other 50% of my position setting my stop at the low of each subsequent daily candle that continues higher. These trades can take many days to play out and I often hold over the weekends, do not take this trade if you struggle to control your risk or are uncomfortable holding for weeks at a time.
I expect this setup to go against me over the next few days as this was already a strong move up and may need to cool off for a day or 2, I expect to hit profit targets sometime next week but don't trade based on time.
It is also important to note that I normally allocate up to 1.5% account risk on continuation trades however I do not risk over 1% when I trade GBP (due to the fundamentals around Brexit). A similar trade to this could also be expressed by shorting EURGBP although that pair has not made a signal on the indicators yet and is most dramatically news driven.
The historical probability of MACD continuations on the top 20 fx pairs (with my 1ATR parameters) is around 68%, please perform your own backtesting of this strategy as you can achieve higher or lower probability results using different stop losses and profit targets.
Best of luck traders.
DXY could continue long, following his bullish trendline/channelDXY just broke resistance, it's respecting a bullish trendline and bullish fan.
As this is a big bullish trend, we should expect it to retrace to Fib Retracement level 23.6 and continue his way to at least 97.40
Watch out for Sells in xxxUSD, buys in USDxxx and XAUUSD (Gold) short.
Continuation Supply Level In USDJPY 31/01/2019As we can see, the supply level I marked on the chart is a new fresh one, the price drop from that level which indicates on unfilled orders still waiting there, Therefore, if the price will That supply I'll sell there, my final target will be at 105.50 zones,
Demand Level For Buy Position In XAUUSD 27/01/2019After a long stamping, the price finally broke out the resistance at 1297.00 zones and creates a new fresh demand which I marked below, it seems the price tends to reach the supply Level from the left at 1315.00 zones, we can see that on a daily chart, the demand below is a great continuation level of buy position, as long as the price didn't reach 1315.00 zones, I'll Buy at the demand below and the target will be 1315.00 zones,