Kangaroo
📈 Bitcoin on Huobi Futures? Long | Short ?Bitcoin has been in this wedge around 9000 to 9500 ish for a long time but it seems the wedge is starting to get closer to the end.
The RSI looks very good not overbought or oversold but will this lead to a continuation in the zone or is there a breakout coming?
The indicator on TradingView shows it as a "BUY" but am not sure if they are taking in all the considerations within the market like volume etc.
MACD seems to be trending up which may indicate a movement is near...no way to tell for certain!
Whats is your thoughts? BULLs BEARs or KANGAROOs?
Kangaroo tail on FASTWhile we wait for that huge head&shoulder to complete and go short, the right shoulder is giving us another nice signal with the formation of a kangaroo tail. Both the promise of the major pattern completion and the tail gives me enough confidence to open a trade at my standard risk %. This time I'm using channels to calibrate stop loss and take profit. SELL STOP @ 55.02, STOP LOSS @ 56.02, TAKE PROFIT @ 53.13
What goes up...Must come down.
The positioning for this market is extremely long. Are there any more buyers? I don't think so. The Australian economy isn't showing any signs warranting this valuation of its currency - a valuation far greater than 0.68 - the PPP.
Start small, build. This is counter-trend so be careful.