ETH probably --History repeats itself--2017-2024Probably the same scenario as 2017/2018 will be repeated
Repeated
SPX (1D) 2007 VS 202107/08 VS 21, looks pretty much indentical, and if there is something about charts it is that they almost always repeat themselves over and over again, we've seen it numerous times, and its how i myself even trade on a daily basis. Now you may be wondering why? Well let me tell you, chart patterns work by representing the market's supply and demand. This causes the trend to move in a certain way on a chart and forms a pattern. Another factor that helps with building patterns is algorithems, many of them are built to trade of patterns (less complex ones) thus selling and buying on price action creating patterns.
But always have in consideration that news is almost always the biggest factor for patterns not moving as planned. That being said, dont go full on bearish bcs of a pattern, I recommend doing fundamental analysis, techincal analysis & macro, a pattern may never always be spot on and alot of the times scare people out just before it melts up or down.
EURCHF short ideaExplanation in analysis. Not used the 'bar pattern' tool before... but looks like a nice set up either way.
With current fundamentals (trade war/recession etc etc) we should continue to see safe haven flows.
CVSI - Get in or out of the boat now, we're going for a rideCV Sciences repeats 2014. The boat is starting to rock, get in or get out.
CBD Oil, Cannabis, Medical - Bioceutical Cannabis, reducing opioids, etc.
No megatrend here...what am I saying.
Time to see who's at the helm though.
Viewers come to own conclusions here.
EUR/JPY Technical analysisThe daily chart of EUR/JPY is currently in downtrend.
It is currently trading around the resistance zone of the trendline.
As per our analysis,we expect the pair to witness short covering once it crosses the trendline.
Macro $BTCUSD thoughts.Was giving the long term picture some consideration in view of RSI dropping to a level that has held well since Sept 2015. Question is, if you compare with 2014 (which seems to be what everyone else is doing) we can be at either of those points on the purple lines.
If we are indeed heading to $4000 this would represent a much more accelerated pattern within this long term trend. Comparing to 2014 though, the first March break of RSI 43 would afford us a rise of up to 100% before full retracement to the lows (whatever that might be). On the second scenario of August it would signal the start of the drawn out drop in price and rise to all time highs again.
The second scenario would suit the current pattern much better, but this would mean our bottom would be circa $5500... A lot to ponder, and possibly a long time to keep pondering since this looks like it may take a while, possibly not reaching a reversal until the end of this year or beginning of 2019.
Thoughts anyone? Any dissenting views? I know no one can predict the future but understanding other traders/trodlers thought process comes a long way to getting there.
