Supportresistancetrader
Bitcoin PA-Bar Pattern-Long/Short analysis.Hey!
I want to introduce you this idea.
I was looking for a PA reaction from the same L/S ratio setup, and got this surprise.
I think it's really accurate and deserves to be shared, even if it fails horrible.
Of course this is not a financial advice, and it might get invalidated if BTC breaks 7.5k with a full body candle on daily chart, or breaks 4k on the weekly.
Have fun and trade safe ;)
Could Bearish Harmonic Signal Big Short on EURJPY?Price is currently stuck in a zone.
But what's exciting is the big bearish harmonic that has formed from price respecting the monthly SR at 126.053.
So is this a signal of the uptick ending or is it just a retracement for the continuation?
My suspicions is that this current bullish run is just a large flag formation until price is ready to continue down. But we'll have to wait and see what happens.
My sell TPs are:
124.787
*If price breaks 124.701 that will mean the harmonic is fully respected and will not be a retracement
124.207
123.796
123.416
Max swing trade TP 122.898
If the harmonic is just a retracement move, my buy TPs are:
126.503
126.659
Bitcoin's current status
Bitcoin will break it's current resistance level if it closes today above our current resistance level at $11,379.
Next resistance level thereafter will be $16,947.4.
RSI still has room for growth.
A lot of buying volume since start of Feb (albeit low)
Key:
Red: Resistance, Green: Support, Intensity = strength
EURUSDAs long as price don't break resistance we can expect possible new bearish wave.
If fundamentals that are bullish don't bring us above 1,10 we are expecting our old bearish targets based on fibo levels and support levels.
If price menage to change fundamental uptrend we also expect that price will fulfill GAP.
A Long Trade on Gold ! Political tensions between US and Russia and the uncertainty in the Eurozone affected global markets yesterday. Investors were seeking long positions on safe havens such as Gold and the Japanese Yen.
Gold was up $17 yesterday, it has now touched the 1.618 Fib level of the December to January 2017 rally.It acted as a nice resistance and I see the metal correcting to the 1262.93 support level. This level was previously a nice resistance in late February and should be the perfect spot to enter a long position.
A golden cross of the 65 EMA over the 200 EMA is about to happen. This is a good indication of a bullish trend change.
If Gold jump over the 1.618 level we should keep an eye at the old trendline and wait for a re-test at the 1279.92.
Stop Loss should be below the pink trendline ($1250-$1255)
Cheers