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USDCAD historical structure analysisWell, i decided to share my in depth analysis on USDCAD. So let's start on November 2007 the usdcad price bottomed at 0.9 area, then it bounced hard consolidated a bit and went on a extreme rally that topped on March 2009 after bulls failed to push higher then 1.3 area, then bulls got punished hard by bears followed by a brutal bear-market that end after 5 years almost at the end of 2014.(The price bottomed on july 2011) and started to from a rounded bottom into the 50% fib level and at the end of 2014 finally bulls were able to break after such a long accumulation in such a small range. Let's talk about the first 1-5 wave i think that the first impulse started at the price 1.02 and the wave 1 (at the price of 1.125) ended on 50% fib then we got the pullback which is wave 2 and when we broke 50% fib the price went into a parabolic wave 3 (at the price of 1.3) that stopped at the 2009 top level, then we saw a mini-pullback-wave 4 (at the price of 1.2 ) and the price went into final parabolic move wave 5 (at the price of 1.47) which ended at 300% extension. After such a massive move from bulls without a significant pullback at the start of 2016 (at 1.47) bears are marking the top and the major pullback is starting ( a classical ABC correction ended at the price of 1.2). Then bulls gained ground and we went into a 1-5 wave with a parabolic fifth wave which ended at the top of 2016 at the price of 1.47 and currently the price is printing one more ABC correction formation. Now the currently situation the price is at 200 weekly MA, in a potential "C" wave. For the long run i am aiming for 1.6 level fro USDCAD. * For those who are saying that we are forming a double top pattern, -this is not a double top until we break below 1.2 level. -CryptonikLion
Long
by CryptonikLion
2
Bitcoin falls asleep but waking up soon?Looks like Bitcoin took a nap all the way to 11,600 or so but rose to 11,800+ RSI looking stretched at 56 -60 but many people were calling a double top on BTC so not for sure if the resistance will stand up from another push to 12k. On the 4hr we see green - is this a sign of a trend turning? Let's keep a close eye on this one Whats your call? Long / Short? Sitting it out? Either way you can join Huobi ------> link in our profile! ------------------- Risk Reminder: 1. Trading in digital assets comes with high risks due to huge price fluctuations. Users should be fully aware of the risks associated with digital asset trading and make prudent trading decisions. 2. Huobi Global's announcements and information do not constitute investment advice, and Huobi will not bear responsibility or provide compensation for direct or indirect losses arising from trading decisions whilst relying on this information.
by HuobiGlobal
2
GBPSEK Long / Buy - Double BottomReasons I took this trade: - Double bottom formed on the larger timeframe / Bounce of strong resistance. - Pair is oversold on many timeframes. - Tight stop loss / Good R:R (Risk:Reward Ratio) - Strong BULLISH candle on 1h timeframe ( Piercing Line Pattern & Possible Bullish Hammer ) - MACD crossover Entry : 11.44453 (roughly) Stop Loss: 11.39150 TP1: 11.54250 TP2: 11.65475 Please check against your own analysis BEFORE taking this trade and make sure you are happy to enter. Open to any critique or advice :)
Long
by robertofiorentino9