USDCAD STRUCTURE LONG|BREAKOUT
The pair is moving nicely along the upward trend-line support.
A small local resistance confirmed breakout signals us that the bullish continuation to be expected.
Two possible targets.
First one-weak resistance-used to be support.
Next one-strong level.
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Targets
BTC - WE JUST OPEN A SHORT POSITION (R/R = 1:5) - ENJOY WE JUST OPEN A SHORT POSITION ON BITCOIN CAUSE A 4H CANDLE CLOSED UNDER THE RED TRENDLINE ...
WE LOOK FORWARD TO SEE OWR 3 TARGETS IN PROFIT... JUST IN CASE THEY WON'T A STOP LOSS IS SET WITH A NICE RISK/ REWARD RATIO (1:5)
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BTC - A few challenges.BTC is in a very decisive moment right now. It might trigger this Head and Shoulders pattern, what could bring the crypto down to U$ 3,850 (the optimal target for the HnS). It didn’t trigger yet, so that’s just a ghost that is haunting us.
In any case, if we see a bullish pattern here, like a Harami or Piercing Line or Bullish Engulfing it could frustrate the Head and Shoulders for good, and take the prices back to the U$ 9,2k again, which is a quite important region (notice that it served as support and resistance in the recent past). For that happen, it should breakout the U$ 7,306 region. In the perfect world, BTC would go up to the green line, U$ 10,500, but for now, we have a few challenges ahead.
Bitcoin Resistance...After rallying over the past week with implications of a reversal, bitcoin is still encountering a lot of bearish sentiment. Presently, bitcoin is up against resistance from the 200 ema on the 8-hour time frame.
This would not be the first time Bitcoin has broken through resistance in this rally, however there are many areas of resistance in the mid-7k range.
Is this more than a short-term rally? The weekly stochastic is turning up, and the daily is trending up to a 4-day. There is at least potential for a reversal.
AUDCAD. Will the price reach two targets?Hi guys and ladies.
On this chart, we see that on March 20,
the price was at the support level,
while there was a strong breakout fake.
Despite this, the price will develop in two stages,
both targets are shown on the chart.
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SPX Past Drawdowns vs Current Level and TargetsAs trader we often have to look at the past to guesstimate the future. In this chart I compare two past large drawdown events, the 2000 Dotcom Bust and the 2008 Financial Crisis to our current situation. Both of these events, which were massive in nature, had drawdowns of over 50%. We are currently at 30%. If our current event is similar we should expect another 20% decline from the current 2400 level, bring us to 1500 on the S&P .