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Medianline

Bitcoin: More Room to the DownsideAfter a sharp impulse to the down, price in Bitcoin has been in a consolidation for quite a period of time, and what I personally anticipate is the next impulse to the down. In this 4h chart we may see that while correcting to the upside, price was rejected at the sliding parallel of the downsloping median line - a good sign that resistance holds and most likely the correction is about to end. Watch closer for a breakout below the red line (corrective structure) and start looking for shorts with potential tp the $5500 level.
COINBASE:BTCUSDShort
by Fxprotrader
The BTC cheat sheet BITFINEX:BTCUSD has a very high probability of hitting this Median Line (ML), the middle blue line, this will be the make or break area. Typically with ML analysis the price will initially fall thru the ML but will almost always return to it to retest, even if it bounces off the ML on the first touch watch for a retest, just look at the chart every time it crossed not only the ML but the other major trend lines in between, test, retest, find direction. if the retest fails and she breaks lower that will be very ugly and a very profitable short. If she can hold the ML, she has a good probability of heading back up to retest the upper parallel. This is the easiest way to follow the price action, just find the major pivots and stick a fork in them, look how well BTC has played off this pitchfork its almost unbelievable. As you can see looking back, price will always retest a trend line at least once, be patient, no need to rush in the second it pushes through or bounces off a trend line. wait for the retest to jump in. If price fails to reach the ML or an Upper or Lower parallel, and you will know because it will try more than once, its a sign of a reversal. Every crypto trader should have this on their long term chart to use for support and resistance levels, look at the last bounce and the bounce before that, both came right up to a trend and failed, very easy to follow once you have the pitchfork on the right pivots. If you found this helpful hit the like button, if you have a comment or question feel free to ask, Happy trading
BNC:BLX
by ESSCRS
GBPAUD: Back to Back Trade OpportunitiesPrice is being traded at the right shoulder of a large head and shoulder pattern. Overall we wish to catch the big downmove but till then we may go long for a 100-150 pips buy trade. Price reached the sliding parallel of an upsloping channel at the level where we do have the median line of a downsloping modified pitchfork. Both lines act as support so considering going long is a nice idea. In such case we may aim for the upper parallel of the red set where any sell setup completion will give us the reason to trade the H&S pattern for a big move to the down
Short
by Fxprotrader
GBPUSD: Potential Rally on Its Way (Reversed H&S)Looking at the daily chart of GBPUSD is pretty obvious that we are in a downtrend with price moving in a channel that the lower parallel and the lower quartile of the median line create. You may have already heard that it's fighting the trend isn't the smartest thing a trader can do especially if there is no a good reason. In this GBPUSD daily chart we do have a reason..! A reversed head and shoulder pattern has developed with price being massively rejected at the right shoulder level. I am not saying that we should jum in right away. Instead we may wait to see if price breaks above the quartile, and in such case we better wait for a pullback (retest) to the broken level. Any buy setup comppletion at that level will be a great opportunity for us to get in a trade with great potential to the upside
Long
by Fxprotrader
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