EURJPY: Analysis- Downtrend is getting weaker as price is struggling to make a lower low
- Price is currently at a weekly resistance so therefore; it's a bit of a premature entry for a buy
- As price is on a downtrend we would feel comfortable selling but need further confirmation on the H1
- The support level has been held since 2016 and price has touched it more than 3 times with a false breakout dating back to 2016.
--- Wait for confirmation candle ---
Falsebreakout
EURSEK - Tests Daily Channel ResistanceEURSEK Testing channel resistance on daily chart.
SEK Futures show prices are approaching all time lows. As the chart shows SEK looks to be oversold and a bounce from the lows is highly probable.
USDSEK providing additional confirmation as technicals point to chances of near term reversal.
EURGBP False Breakout?2 simple reasons to short this breakout:
1) Comparing the monetary policy stance between both central banks, the ECB said last week that their rates will remain at current or lower levels, while BOE kept their rates on hold without any hint of cutting rates.
2) This is the second attempt to break the supply zone in a year, however, there is no Brexit announcement or major economic data until the release of UK's GDP numbers next Friday.
Short $US2000 $IWM For JUL 15 - AUG 20 Seasonal TradeWe ended the late June to July 15 Seasonal trade with a huge bang... except Russell 2000 lagged terribly. Notice the potential rejection of the June close here along with the top rail of the big wedge.
Seasonality starts July 15/16 and Russell along with DAX are the worst performers.
charts.equityclock.com
Bitcoin Bullish ProposalBitcoin Bullish Proposal
After the recent price action I've decided to re-evaluate my analysis. By using Andrews Pitchfork, I found a channel price seems to respect. Currently, price is showing a reaction to the median, so if your a bull, this might be something to keep an eye on. If price can break through the median, I believe it will go to the next major resistance at around $6100.
However!
This price action has verified some of my previous analyses.
I still think this is a false breakout. Price still needs to drop down to one of the MA's. Either the daily 200 or weekly 200. At which point it will consolidate and then finally gain enough momentum to rally into an official bull market.
Trading Bitcoin can be risky. The price channel above could be useful but I will leave that to your judgement whether it's trade-able. Personally, I am a long term holder. If you are a long term holder as well, don't let the recent price FOMO you into buying at the top. If you are too antsy, wait for it to come down to the lower part of the channel before you buy. Or wait until we come back to the lower MA's.
Could it be a trap? $BTC (Bulltrap)Current thought, so far $BTC is showing some good bullish signs. But, too many people think itll BO. Yet, nothing good or useful has been released or shared. Not even the Futures, can’t help but think this will be a trap for a dip to $3,000-$3,500 or worse. Shorting higher.
Worst case, I’ll take my loss like a champ. Reverse my order and okay the bull run. Too much hype.
Who is in control? I'm not kidding! I warned!Now give me hopeful people at BITCOIN. What is the main trend? What is the largest volume? Who's in charge of this game?
What are the technical indications that the game has changed?
People are full of hope in TOP TRADING VIEW, they are highly manipulative people. They need to live, they need to sell their expertise on their call. They live on it. They lie!
Take your money and go buy knowledge, not SHITCOINS cheap service. This is not an investment.
An investment in knowledge pays the best interest. Benjamin Franklin
Buy books. This market is far from over.
Stop fighting the trend. Is she your friend.
Now go look at my studies.
I'm not famous.
I do not want your money
I will not fool you
Now go!
False breakout - ShortFollowing false breakout, pair has put in double top. Bearish divergence on RSI confirming that, the bullish move is over. Looking for pullback back to the previous structure support(now resistance)level, to get the best risk reward ratio, before shorting this bad boy. Stop loss above the double top.
A false breakout in SMHSMH has falsely break out of the 98 double top resistance level on the back of some positive general market sentiment.
However, the break was short lived and it has been quickly auctioned back into the old trading range.
A false pattern is a powerful pattern in itself as a failure at one side of the range tend to fuel move to the other side of the range. Now I am eye it to break the 88 major support and open doors to a much bigger move to the down side.
The massive contracting triangle at the high would imply at least two legs down. Now we only have seen the first leg. The break of the 88 support would be the beginning of the second leg.
SPX SHORT ACCUMULATION OPPORTUNITYWell guys.. the divergence started right away.. The volume leads the way..Both equity to derivatives..
It's amazing to me that on rally days the problems globally are forgotten..Are these people high..I find it hard to go long on equity at this time..
From the largest shippers to the largest most popular phone and gadget company lowers by 10 billion to warnings that it's harder to maintain profit margin..WTH
Manufacturing has pulled back to 2008 numbers..
Because the FED agrees that the global economic contagion could reach our shores and they may react to the data. So people jump hand over fist to get more shares of the overvalued companies???
No matter which way it goes i will hopefully continue to pick up the markers before it happens so I CAN TRADE IT..
For now I'm bearish