GBPUSD - 4H BEARISHMake use of Fibonacci, Support & Resistance when analyzing this pair.
SL - 1.32480
TP 1 - 1.318
TP 2 - 1.313
TP 3 - 1.309
TP 4 - 1.303
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GOLD - 4H LONGHi Guys,
After analyzing this element, I have come to the conclusion that Gold is moving in a BULLISH trend.
USDCHF BULLISH - 1D CHARTI used the Head and SHoulders method to determine what direction this trade will be heading in.
IF YOU FIND THIS USEFUL, PLEASE LIKE AND FOLLOW
Emotionally dispassionate, Clinically objective.Notice the direction of the second impulse we had from 6345 to 6650 begins to taper off towards the end with little follow through.. This Is not the bottom, or beginning for even a small rally.
On balance of probability we will form a H&S. This is likely to result in a retest of the lows before further drop.
Apophenia and the Bullish possibility.This is the bullish scenario.
APOPHENIA is the tendency for people to see patterns in a set of randomness. However, Bitcoin has shown some obvious cyclical patterns over its infancy that appear to be useful.
We are by now most all familiar with the Wall Street cheat sheet, which is really just a graphical representation showing human behavior as a whole. More and more this is starting to look like a Wycoff accumulation. Each successive sell off has been more drawn out and less extreme. Liken it to the physics pattern of kinetic returning to potential energy. Consider that we are throwing a rubber ball up to a new shelf from a point of lower elevation. Upon landing
it would have a first initial large bounce, Then bounce to half its previous height with every following bounce.
Now a trading chart might not follow the same axiomatic framework as a physics experiment, but the analogy is helpful in grasping the concept. We are also starting to see some instance of support in OBV, an indicator I like to use along with RSI. I am not a fan of too many indicators, as I think it clouds and clutters the clear picture. The only thing I look for with those indicators is flattening or divergence. Which on balance of probability, seems to be helpful.
No asset can be monotonically positive, so as anything that grows, the gains are reaped along the way. Profits will be taken, and this could be the reason for a Wycoff pattern. Remember, this asset is still in its nascency, and just as Metcalfe's law implies, the value of a network is the square of its participants. We are still early.
[BTC/USD] BTC REBOUNDING? *SIMPLE TA*According to my TA a descending wedge is being formed,
RSI levels are oversold.
Possible rebound if $6,100 holds.
Lets see what happens.
[IOTA/USD] IOTA IS IN DANGER ZOON?H&S Pattern is being formed.
Right shoulder has been formed, from here we should see a downtrend in price.
My Targets are Dotted lines.
As always this is my trade opinion.
NZD/USDFIB 50 percent retracement level outlook on both wings.
Looking for profit on the bearish reversal with the next hours or days.
Placing stop loss at outside of blue Resistance levels. Setting up sell position anywhere underneath blue resistance level.
Anyone needing help in the markets. Education. harmonic scans. Entries.
email. Iamtradeking23@gmail.com
lets work.
USD CAD UPDATE... LOOK FOR ANOTHER ENTRY! HERES HOW IF YOU MISSED THE TRADE THATS OKAY.. LOOK FOR A SELL LIMIT AT THIS LEVELS
BTC-Xmas - Vote- Like for bullish & comment for bearishJust read the chart and share your opinion !!
Like for bullish and comment for Bearish.
$PotCoin New Market CycleWe just had a breakout from Pot's accumulation period so I'm looking to see a new market cycle form. We are currently sitting in the right shoulder on the Inverse Head&Shoulder Formation waiting for a breakout of the neckline. RSI showing momentum back on the buyers side
USDJPY | 9D | BOUNCE LIKE A QUEEN|YEN| to continue contraction until 106 levels then bounce like a queen.
Cheers,
Keops
GBP/JPY Ascending Triangle BreakoutGood Morning,
Spotted an ascending triangle via GBP/JPY, lower trend line is heavily respected. Waiting for another retest of the higher trend line (illustrated above). Should price retest, look for an opportunity to go short. 147.950 has been a historic resistance since November, expecting it to do so again. Look for confirmation to enter, I also advise you to facilitate this trade on a lower time frame for a better entry. Please execute with your own due diligence.
Thanks,
Trade Wisely
CADJPY 1M OutlookKeep Your charts clean and simple, breakout of descending trendline, price came back to retest and formed an indecision candle at 32% retracement
CADCHF Inverse H&SPotential Inverse Head And Shoulder on the 1D and 4H timeframe, waiting for more of a confirmation of the H&S to continue playing out before taking a position to attack previous high of 0.77245, BANK HOLIDAY Monday so no positions will be taken.
GOLD 1M OutlookAs Gold continues to show its bullish run and possibly a continuation of its trend. high target may be achieved as long as price holds above 1263.00, Targets of 1300 , 1340.
For the month, it has come back down to Equilibrium to run any long stops, and is now finding its way to retest the high of 1360 before distributing down to the Monthly OB, which is 70% retracement before heading into key zones of 1400.
GOLD 1D OutlookGOLD currently trading at a Key resistance and has previously made higher highs from failing to eliminate previous lows to continue down to 1200s, as the dollar makes lower highs looking for XAUUSD to proceed to a target of 1260, 1300s before coming back to retest its low.
Look below for DXY outlook.
DXY 1D outlookThe dollar is still weakening and has formed a lower high and has opened up with a bit of a gap down, looking for price to weaken . Potential Head and shoulders playing out?
