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GBPUSD - A follow on from my DXY postMy last post i went on to explain the importance of knowing what is happening with the dollar against trading it against other pairs. Here with GBPUSD you can see the pair was very bearish for some time and during that time DXY was pushing up as the dollar was getting stronger. So when i was looking at this pair over the weekend i identified this purple zone of interest where price has previously rejected and again recently pushed price down. This allowed me to add a fib in place from the recent swing low to the recent high in that purple zone. Now originally i wanted price to pull back into the 61.80% where we can see we have had previous price action but instead it fell just short of this before we could see a turn in price. I dropped onto the 1hr chart and could see a strong bullish push so i waited for confirmation on the hour closure and from that i looked back at DXY and found that price on DXY had also reached my interesting zone where price may slow and the dollar should become weaker for a short period of time. To summarise, Daily time frame shows bullish, 4hr we can include our fin as confluence, along with the DXY chart showing a slowing of dollar so we have a good 3 confluences for this trade. Let's wait and see. Happy trading.
Long
by Forexforbeginners
2
ALGO in a tight Channel Previous Target hit.IMO any deviation from this channel invalidates the run-up to $3. It's possible we could see pullback @ fib levels established off the last run-up to $1.80. However, I don't believe that will happen. Heres to watching little ALGO become a legend folks. Currently I don't have an exit point on this. I am a believer in ALGO and will HODL until I need the $$$$. Trade at your own risk see disclaimer below. I'm just an autistic guy with a digital crayon. This is not financial advice. This is my speculation and only mine.
COINBASE:ALGOUSD
by Battle-Trading
2
Falling Wedge- BullishBeen watching VZ for a while now and has been holding this wedge for quite some time, with quadruple witching coming up on the 17th and September being historically a bad time for equities, a low beta stock like VZ should theoretically outperform the broader markets. (VZ Beta = 0.45). From a technical standpoint, VZ is also looking quite nice, closed yesterday sitting right on its 20-day SMA (not pictured), falling wedge on the 4hour and daily timeframes, Bollinger bands are also squeezing, with volume- should pop. Just some FIB levels & RSI-based supply and demand zones to keep an eye on- Bullish and looking for a breakout. PT1- $55.70 PT2- $56.33 PT3- $57.82+
NYSE:VZLong
by jacobosiason7
2
911 BITCOIN .5 fib & importance of closing above weekly 20 EMA! first take a look at red arrows, that's how far that candle went to. and see what importance that 'white line' is.. i then did fib retracements. the white arrows represent where i placed those retracements, and you can see that .5 lines up perfect with that 'white line' we fell too. We need to close the weekly above that 20 EMA or we will be re-visting the mid 30k's again and far worse as shown through bitcoin history if you see what happened when we did close below it on the weekly. Led to 50% drops or more EVERYTIME! We also need to close daily's very soon above 49k or we will visit mid 30 k's by next week I am sure. That is the consequence of visiting the 50k region. It sets up all the moving averages to that 50k spot we were at, so now if we below those moving averages, well now you know what will happen.
BITSTAMP:BTCUSD
by UnknownUnicorn27446520
Certainty is dangerous - BTC downsideThis run up from 29k has been fast paced and well accepted by most. Most are certain downside isnt feasible at the current state as BTC is so bullish however given confluence at 54k mixed with a few other indications , i feel our current position is not going to be held for long ! Mapped out are two price ranges highlighting the drop size required to go to 27k . Notice how in the first dump we dropped 34k in 70 days and now we could be looking to dump 26k , sending us to 27k in 70 days. Currently the dxy looks weak and is showing signs it could return to 90.This is a potentially bullish sign for BTC however that also fits in with my idea here considering we are still 4k away from 54k. I do expect a pull back to 48k at some point within the next week if we make no attempt at 54k. 27k is still very unlikely however certainty is dangerous -Ozwald
BYBIT:BTCUSD.P
by ollie_oz
2