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BITCOIN - FIBB CHANNELS - WELL RESPECTED - DOLLAR ACCURACYLets make it simple ! All the asset movement are perfectly pre-planned by market makers. Our role as retail traders is to find out next move as soon as possible. Thats why basic trader draw many lines and patterns on a small timeframe, but bigger more important overview of market is lost. Importancy of ascending lines (for bulls control) and descending lines(for bears control) is much higher important than basic horizontals. -- Perfection, precision and objectivity are 3 factors why was drawn this fibonacci channels in upside and downside direction. Please have a very close look to the places with dollar accuracy respect. And also lets focus on places where are small gaps and price didnt achieve channels line. Thats not inaccuracy, but for the purpose. -- Enjoy looking at this chart and remember the simple rule : resistance lines are changing to support lines and vice versa. I like this game of probability Good luck !
by oo-rbiiix
AMD Decending channel/bull flagI don't like the looks of AMD approaching the top of an established descending channel, however this is also potentially a bull flag. I suspect strong sales thanks to a silicon shortage and very high demand, history shows us this channel shall be respected to a point. I will look for a price test around $94.00 before making a decision to buy long. If we bounce off the channel and it collapses, back to the mid $80 range, I'll be looking to get long again there for another $90-$95 test. There is no reason to believe AMD is going to massively break out of this range, as long as I've been trading AMD, it's respected its ranges pretty well. Therefore, as much as I'd like to say I'm long here, I'm short. I'll be pricing $85 puts Monday.
NASDAQ:AMDShort
by rowingdude
EURGBP Medium term support for bullish positionThe EURGBP has just respected a very old and solid looking support level (label A). This level has been respected four or five times since July 2016. This level suggests buying positions. The upper descending trend line (label B) suggests resistance points. Using those levels as entry and exit points with a stop loss just below the lower extended support line (A), suggests a trade with a Risk:Reward of 4:1 Further to this the RSI is suggesting oversold levels and has been relatively accurate combined with the level and trend support and resistance.
Long
by Quadricolor