We are a HUGE correction on BTCBTC is heading south and there is nothing we can do about it but to just enjoy the ride. We will see a pull back going back to the $4600, if BTC doesn't break above $4600 this will confirm the drop down to the $3k. Once BTC hits the $3k it bounce back about .382 of the entire drop, then it will test the bottom at $3k again. This is going to be a bit scary, because if the $3k doesn't hold then BTC will drop into the $2k's, but if it holds then we are on a new bull run which will bring it up higher than $6k's
Fibaonacci
LTC is now correcting short term to .618 fibWe are now in the early stage of a correction down to the .618 fib retracement which should land us right around $48.50's.
This is just a correction of the last run from the $41. What this means as that we are still on an uptrend, but first LTC needs to consolidate before the next run up to the $70's
NZDUSD SELL SETUPTrading can be so complex and intricate sometimes. I try to keep it as simple as possible. Impulse, correction, impulse. Identify the corrections and trade the trend continuations. Pair that with a little technical analysis and viola! A corrective channel structure has taken shape here. Anticipating the bearish breakout to continue the trend. I take the trade only on confirmation of the breakout. No breakout, no trade. Fibonacci aides greatly in plotting targets. Simple enough
Countertrend Bullish Butterfly with Low Risk The Potential Reversal Zone on this butterfly pattern is right above a previous major low. Because of this the risk is tiny compared to the reward. (1:10 for target 1), (1:18 for target 2). Entry at 27.74. Stops below 27.56. Potential targets at 29.95, and 31.37.
AUDUSD DAILY COULD GO EITHER WAY KEEP AN EYE ON ITHowdy,
This could go either way so worth keeping an eye on this pair as today's candle has not finished yet
We have as you can see resistance but that could break through and retest as new support to go higher or create a new lower low.
As always any feedback welcome good or bad.....still learning before I go LIVE