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Open gapOh boy, tomorrow's open is gonna be a doozie. Let's examine where we can go. -that last hour is ugly. Any bids looking for a sale are shook. -potus answered a question about a possible recession, to which he said maybe, and of course the times have run a headline saying he said this on his own accord; in reality he was brushing off a question that wasnt related to covid -we have a very weak upper channel that formed on march 5th, which I believe is going to form the top of a descending channel; the base of which we formed trailing blood on feb 28th. Tomorrow is going to be red.
TVC:DJI
by BingoMoney
Gold will come down to Get in !!!Hi James and Joe! Looking at the weekly Gold chart, you can see a big ascending channel has been forming on Gold. This shows gold is currently now in the uptrend in the big timeframe like weekly or monthly. However, in a smaller timeframe such as the daily chart, it shows gold is now in a small descending channel. Moreover, you can see 3 more bearish signs in daily timeframe including: 1. The price is currently below 21 Daily EMA (blue line). 2. MACD is moving to the negative side. 3. RSI still builds lower high and lower low. Therefore, this is the opportunity to wait for the price to come down in order to get in my friends. The price is more likely to come down around 1445 -1450 which is Fibonacci 0.382 level and is also 21 weekly EMA (blue line). ***** THIS INFORMATION IS MY IDEA AND IS NOT RECOMMENDATION TO BUY OR SELL. IT IS TO BE USED FOR EDUCATIONAL PURPOSES ONLY. ******
OANDA:XAUUSDShort
by SusuTrader
BTCUSD Bear flag Breakout, Bounce or reach target?Hello traders, Another day Another chart, Today's chart will be an update on BTC's recent price action Points to consider - Break was bearish with above average volume confirming bear flag - Another potential higher low in place - .618 Fibanacci Zone acted as resistance - Price currently testing support which is in confluence with the .786 Fibonnaci Zone - Low volume of transactions after the current support zone, VPVR - EMA's giving price resistance - RSI oversold but not as severely - Volume is average at given time BTC is testing a very high technical area right now, proceeding its over extended bear flag. The calculated target of this bear flag will be around the $9,100 Zone however the current price action after the bear flag suggests that BTC may have a bounce, being more probable. The current Support zone is in confluence with a support line coming up, this line is also in confluence with the .786 Fibonacci Zone proving how strong this area is for the bulls. When zoomed in on the 1 hour chart, we can see a clear bullish divergence, proving its significance. If bulls do not hold this area then the likely target of $9,100 is more probable as there is not much support until the next leg down and this being in confluence with the calculated target makes sense... What are your thoughts, will BTC break support or have a bounce from this area? Please leave a like and comment, and remember, “Don't blindly follow someone, follow market and try to hear what it is telling you.” ― Jaymin Shah
BITMEX:BTCUSD.P
by AzizKhanZamani
USDCAD Vs. Gold and Oil Gold and oil prices is one of the facts for rising and falling Cad. a small pullback in oil is expected before more upside potential. Risk of higher us oil output =lower prices. slowing global economy=less demand But there are some potential in the EM, Which can increase the demand and push prices a bit higher. OPEC just released its oil market report, where there is no highlights of the production cuts, and prices. This could sound like they are hiding there plans to cut further and Increase prices. Gold could also see some further upside potential in H2 2019, after a small pullback. Shorting USDCAD when break of the trend. monitoring gold and oil prices for this position.
Short
by Fx-AlphaStrats
Quick Long, Then Big ShortSee the comments on the chart. I'm thinking ~$110.50 for potential upside until we make a lower low than what was seen in December. Low price target is purely a guess, but I'd expect to see it fall to the range of $50-$75 (not a very concise range, I know, but I'm really not sure how far it will fall - I just think lower). Afterwards, if the RSI plays along we should be positioned for a significant upwards move which will be dependent on the low that we reach.
BITMEX:ETHUSD.PShort
by Korastiz
AUDUSD: Lower Time Frame Update!Hey guys, as mentioned in the last idea, i just wanted to give you a guys a lower timeframe analysis update on AUDUSD for a good entry. You know we are bullish on the daily so we are looking for a good entry point on lower time frames like 4h. Price is moving sideways since Friday on the 0.5 fib level. I really like to enter between the 0.5 - 0.61 level with stops under the lowest low. Another confirmation is that on the daily price formed a head and shoulders pattern at this level. Wish you guys a nice trade.
Long
by darian_fx
1
Higher low? Or breakdown confirmation of rising wedge?We have to dip under 6.8k to forma lower low and hand control back to the bears. If not we will simply form a higher low. There's a chance we can bounce back up into the rising wedge but if this current 4hr candle closes here or lower there is a very high probability it will trigger the breakdown that can potentially send us back inside the weekly descending triangle pattern. Let's hope by the time it reaches the 1 day 200ma that we see a bounce it seems like once it gets there the 4hr rsi will be hitting the oversold zone so a bounce there is possible..however if the breakdown from the rising wedge is triggered it will only be a dead cat bounce at most. Hopeful that we bounce up from there and prevent going back into the triangle.
BITFINEX:BTCUSD
by DrDovetail
lower low on the 4hr chart; officially broken down from wedge. I think it's very likely we can head to 5.9k here. The stochrsi on the 1day chart has plenty of room to drop still and the reason we are currently consolidating I believe is that the 4 hour rsi just hit oversold conditions. So it is likely we will fall back down and retest the bottom trendline of the pink symmetrical triangle. Even though we are currently at a lower low on the 4hr chart...dropping to 5.9k and then bouncing up would actually be a higher low on the 1 day chart. For now I am short. My one hope is that it doesn't cause the golden cross to undo itself. One still potentially bullish outcome to watch for in all of this however is that now we have fallen to a much more symmetrical shoulder height as the first shoulder of the inverted head and shoulder pattern, which means the ivnerted head an shoulder pattern for now is still valid...however it will be invalidated if we continue to fall and retest the bottom trendline of the pink symmetrical triangle pattern. Being prepared for either outcome is my plan...you make your own decision as this is not financial advice. Good luck and thanks for reading!
BITFINEX:BTCUSDShort
by DrDovetail
Price Action Consolidating in Small Falling wedge4hr chart has the price action respecting the trendlines of a falling wedge/bull pennant. I don't foresee any bullish breakoutt hat may come from this pattern being anything substantial..especially the closer it gets to the apex the harder it will be for a breakout to lead to any sort of higher high. If a breakout does occur I anticipate it will most likely form a lower high and then dip again to another lower low. Probability favors this but of course I am prepared for the opposite should we somehow skyrocket to a higher high.
BITFINEX:BTCUSD
by DrDovetail
series of higher lows still in tact, higher highs broken.We are still at this moment in a continuing series of higher lows on the 4hr which is good but we've actually had 2 lower highs in between those higher lows in a row so that coupled with a new potential head and shoulder pattern leaves rom for concern. I exited my position above the t line at around 7632 and only plan on getting back in around 7821 to play it safe. I may buy back in to accumulate more btc if it dips way low but I might just wait until it reaches this point and shows that it can clear some of these sell walls. That's my current approach. Good luck in whatever you choose to do, and remember this is not financial advice only me sharing my personal strategy that works best for me.
BITFINEX:BTCUSD
by DrDovetail
EURUSD: Lower Stop On Any Shorts/Use DXY as Signal ConfirmationEURUSD Update After rallying from the downside target off the 1.1721 line EUR has made it to the near term upside target centred around the 1.1821 line and been met with a barrage of persistant selling from there over the last 6 hours creating a series of rejection spikes above the line. If you shorted from here again lower the stop to 1.1787. It's been sold off in Europe all day - we need to see US follow through to know that downside pressure is still strong from here. Without it there's an increasing chance that it will push higher again from here before coming off again later - the next key area on the upside lies at 1.1831-1.1838 - a break above here needed to signal any further near term strength to 1.1915. The overall picture is still bearish for EUR but with DXY consolidating off 94 and with a little more unwinding there still likely it means that this this whipsaw back higher for a while yet before the downtrend resumes again
Short
by sumastardon
BTC creates a lower low; still forming handle.I exited my position once we dipped below $8790. At that point a lower low had been achieved on the 4hr chart which almost always tends to be just the beginning of further downside. However we are now in oversold conditions on the rsi and the stoch rsis buy signal line is finally curving back towards the upside. We also seem to have a decent sized support buy wall waiting at $8500...because of these support indicators there is a chance we may see a little bit of a bounce at 8500 however i think this will probably only be enough of a bounce to reach the top trendline of the handle before it bounces back downward and sees an even further dip. I believe the downside will continue until btc is finished forming the cup handle and since we've only just now formed a lower lower on the 4 hour chart I anticipate the handle will likely be much deeper than this. Of course I will always be prepared for the exact opposite outcome as well. I hope all reading prepare themselves for opposite outcomes as well.
BITFINEX:BTCUSDShort
by DrDovetail
8