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Investroy

USD/JPY: detailed outlookAs it can be inferred from the chart, the price is moving between the borders of an uprising channel. After a strong bullish push last week, the price started dropping to complete its correctional move. We can clearly notice from the graph, that the price has carefully bounced off a previously broken zone of resistance turned support, which also aligns with 0.382 zone of Fibonacci retracèrent level. We are now expecting the price to keep rising till the previous Higher High. We will closely monitor the price at that level and see if the price has intentions to break the upper boundary of the uprising channel or form a double top and keep dropping further till the lower boundary. Happy trading!
by Investroy
5
ETHEREUM: Outlook. Huge dump coming?If we closely look at the chart, we can notice that the price has turned bearish and it is dropping nicely, while forming Lower Lows and Lower Highs. Similar to the Bitcoin chart, the price is currently stuck in a sideways-moving rectangular range. If the lower boundary of the range gets broken, then we will be expecting the price to keep dropping till the area identified on the chart. On the other hand, if the price breaks and retests the upper boundary of the range, we will be looking forward to opening Buy positions and aiming for nice profits. At the moment, the price is looking bearish. Therefore, monitoring the market for SELL positions is a more logical thing to do. Nevertheless, we are gonna be reactive and not predictive. Happy trading, family!
BITSTAMP:ETHUSD
by Investroy
16
BITCOIN, STEGOSAURUS pattern formed. Another huge drop pending?Hey, fam, welcome on another analysis for the day. In fact, it's not much of an analysis, but rather a conspiracy theory. Looking at the Bitcoin chart, we can clearly see that the market is bearish, or should I say dinosauirish for the moment. As it can be inferred from the chart, the price is forming another Stegosaurus reversal pattern. The last time a Stegosaurus pattern was formed, the price dropped massively and could not recover for weeks or even months. The question is, will we get to see another huge drop? Is another Chicxulub impactor dropping from the sky to erase the dinosaurs from the face of Earth? Well, time will tell. Let's just be patient and enjoy the process! QUICK NOTE: The idea posted is for entertainment purposes only! We all need some fun and laugh sometimes, right? So, please do not treat it as financial advice and make conclusions out of it! We are wishing you all a happy trading week!
BITSTAMP:BTCUSD
by Investroy
47
GBP/JPY: outlookLooking at the higher timeframes, we can see that the sentiment of the market is bearish and the price is headed to the downside. Taking a look at the DAILY timeframe chart, it can be observed that the price has formed a nice descending triangle pattern. As it is stated in the book, after a descending triangle pattern has been formed, we should patiently wait for the breakout and re-test of the lower boundary of the triangle before entering the trade. Therefore, we will be closely monitoring the market and waiting for the price to break out of the triangle, before we can open shorts and aim for the south
by Investroy
17
GOLD, the juiciest SELL areaThe sentiment of the market is clearly bearish. The price is constantly forming Lower Highs and Lower Lows. A huge bearish candle has penetrated through the local zone of support identified on the chart, and now we are waiting for a valid re-test of the broken zone. The broken zone of support also aligns with 0.618 Fibonacci retracement level. As soon as the price reaches that level, we will be closely monitoring the market for more confirmations before entering and setting a nice target with a nice risk-to-reward ratio.
OANDA:XAUUSDShort
by Investroy
13