COINBASE:BTCUSD
Here goes my first.
After reaching $6,750 resistance level the RSI formed a Bearish divergence indicating a possible drop in price.
Price dropped and a small pullback i saw the opportunity to sell using Tom Demark trendlines .
Connected the recent swing low to the last swing low and waited for price to close below the trendline to project the...
It is running towards the 1.15x area again. The lines on the chart are divided into leading and supporting roles. In the next 30 days, it might dance inside the expanding triangle.
Target coincides with 1.618 extension levels from prior pivot highs, bottom line of bear trading range and measured move break from upper trading range.
Risk/Reward = 1:3
Strong sell action from last days give opportunity to sell on retracement, where we have 3 confluences:
Rotation with volume accumulation
Strong sell gap - imbalance extreme
Pivot high - reversal point rejected price
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Buyers still nowhere...
Hello All posted this trade setup mid last week. Currently in profit due to NFP giving it a little boost i decided to make this trade risk free just before market close because sometimes we can get large gaps in the market and there is nothing worse going into a start of a new week with a lose so i limited my downside and took away risk. We will see in a few hours...
Hey everyone,
This is my 2nd analysis on the USDJPY on the time frame of 1 hour.
As you can see, I have circled the candle stick patterns everywhere where the market wants to make a turn or has made with the well-known bearish and bullish patterns.
June 13 began the analysis with a 3 bullish pattern which is a bearish candle pattern where the market threatens...
We are now looking for the completion of this pattern to the downside. Once we get a break of this trendline. It should be all hands on deck. There is the chance of one more move to the upside to extend the pattern but the downside potential looks the best choice.
Rules of Engagement.
1. Wait for second retest - if retest does not happen, then trade is void.
2. Mind your Risk: Reward - Keep it as low as 2% and not more.
3. Stop loss - Above previous high
