AUDUSD - Three Dives Takes Aussie Down with CopperAUDUSD is about to complete or probably has completed a three dives pattern right under 618.
Taking a look at copper, the price of copper has also made a significant retracement and reversal sign is forming at an important supply zone, thus copper is likely to fall soon.
The dollar though has been on the rise since last week, it is most likely a part of a major retracement and there has been no change to the major trend.
Three Drives
USD/JPY Potential Bullish Three Drives PatternUSD/JPY Potential Bullish Three Drives Pattern
After the long and medium term analysis for USD/JPY on the
weekly and daily time frame, the final analysis for the
short term on the 4 hour time frame is ready.
As previously mentioned in the other two analysis of USD/JPY,
the key level of support is the 110.30/00 level. On the 4
hour time frame however we could see a bullish trend
continuation IF the 111.20 level holds as support.
Running perpendicular, and a few pips above the 1/3
speed trend line, is a short term bullish support trend line
formed by the lows at 110.59 and 110.73. An adjusted
trend line from 110.73 to 111.10 makes it run
perpendicular to the 2/3 speed trend line. Both indicative
of bullish momentum. As long as price does not close
below 111.20 for the short term, the bullish trend
remains intact.
Only after price closes below the 1/3 speed trend line
is the short term bullish trend over exposing the 108.10
level below. A close above 112.15 this week, however,
would mean a resumption of the overall bullish trend -
please refer to my previous analysis on the weekly time
frame if you havent done so already to see where price
could potentially go from beyond the 112.15 and 113.18
level.
Trade long (RvR ratio 2:1)
Entry: Close above 111.24
S/L: 110.60
T/P: 112.52
As always, scale out your profits and adjust stop/loss to
suit your personal risk management.
Happy trading
GBP/JPY Projected Bearish Three Drives PatternGBP/JPY Bearish Three Drives
GBP/JPY is hanging, or better resting, on a very thin level of
intermediate support formed by a minor bullish trend line
currently. However, looking how close price came to closing
the gap between 142.20 to 142.60 at the end of May, 2018,
it seems very likely that it will now close this gap. The
reason why I believe it will, is because after price closed
below the second speed resistance trend line it got
rejected twice when it re-tested it, and above the 100 &
200 SMA have made a bearish cross over, thus, indicating
bearish momentum.
Whether we will see a 100% retracement back to 135.60
depends on what happens around the 142.00 level. If it
holds then obviously new highs could be formed after a
close above 156.00, if the 142.00 level does not
hold the last chance for the bullish trend to remain intact
is if the 138.80 level holds, which is approximately the
level of the bullish 100 & 200 SMA cross over.
Keep a close eye on USD/JPY, if it continues its short term
bearish correction expect GBP/JPY to continue dropping
as well.
Trade short 1 (RvR ratio 2:1)
Entry: Close below 144.35
S/L: 145.42
T/P: 142.20
Trade short 2 (RvR ratio 2:1)
Entry: Close below 142.20
S/L: 143.88
T/P: 138.84
As always, scale out your profits and adjust stop/loss to
suit your personal risk management profile.
Happy trading
September Canadian Dollar ChannelCAD is a trapped in a three drives downward channel. RSI is really close so either we will get a breach of the channel above pivot, or another lower run below pivot to S1 at .75111
OX in a three-drive pattern OX is one of the rare coins that continues to grind higher bearing in mind overall bearishness of the crypto market. The coin has pushed higher above the previous swing high and it is now correcting in order to get more support for the next wave higher. It looks like the OX is creating a bullish three-drive pattern that points out to more gains in the future. In essence, the price returns to the 61.8% retracement after the first drive. Similarly, the third wave should start after the second wave is finalized with another 61.8% retracement. Currently, it looks like the second the coin is in the second correction after which the third drive shall start.
If this is the case, watch for the reaction from the 61.8% level before continuing higher. The RSI on the H4 chart is also pointing towards a retrace to lower levels before continuing higher.
$SPY - Definitely bullishNothing really too technical at all I can get into with this one (not a big fan of hourly charts for LT price action) but, @ this point I couldn't see any other pattern but a wedge up / busted bear 3 drives pattern. Currently @ the re-trace so unless anyone sees a break of $268? I'm not sure where everyone else thinks this is going lol. I've seen this setup a number of times ($TRIP, $UA, $M, etc., Intra-day, not hourly) where 180WMA is finally over 789WMA almost like a regime change. Price action after the crossover - great, but not too great for long before it loses almost all of its gains of price since it crossed above 789WMA. Eventually, balances itself back out in a continuation. Long story short, BTFD. Just me tho lol
short term relief rally on EtherETH 4h: I am starting to see a three drives pattern on the 4h chart on the Ether (you can find an example here learn.tradimo.com). If this is indeed a validated Three drives pattern, expect a bounce up to the 61.8% Fibonacci retracement of the whole move lower which is at $543.5 . The trade idea is no longer valid and the stop loss has to be triggered if we trade below $389. No change in my view about a broader decline; if it happens, this is just a relief rally. #notaninvestmentadvice #pleaedoyourownresearch #mypersonalview
BTC - ideas for fun!BTC - some observations for your amusement...
Bearish channel - two 150% extensions followed by two 230% extensions. (purple)
Over-extended ABCD - symmetrical. Bullish
Optimistic anti-butterfly!
Pessimistically continue three drives down in a new channel
Triple bottom confirmed on breaking trend at E
Or a short-term bearish Anti-Gartley or Nen-Star
And as a last a Bearish 5-0
Bitcoin's Harmonic JourneyBearish 5 Drives megastructure leading into a Bullish 5 drives up to 8500 to which will fulfill the overall Bearish 5 Drives w a target at around 5.5k.
Upon completion of 5.5k retracement OR sideways trending on a strong demand zone, Bitcoin's harmonic may become a Bullish Deep Crab to which will have a target of $10k+.
I've been bullish about bitcoin and I'm open to us shattering 8500 and reaching for 10k+ but I'm just reading the chart as it's presented and it's pretty clear what is being presented.
The following is astrological and Gann fan related. I am in now way a master of this and while I've witnessed the significant correlations of astrological events w price action and fud and fomo doesn't mean I am an authority on recognizing it. These are data points that I am interested in observing so just understand that's where this part of the analysis comes from.
There are different star systems that astrologers use. In the beginning, I used tropical, which is used for Western astrology but I'm favoring and using Sidereal (of the stars) astrology based on observations I've thus far made between tropical and sidereal for bitcoin's price action.
Astrological and Gann fan aspects: It's interesting to note that this weekend, there are several planetary bodies (the moon is a planetary body) that are moving into constellations. In astrology, it's significant when a planet enters a constellation/sign and even greater significance when it multiple planets entering a sign/s.
6/8 - Friday - Moon enters Pisces
6/9 - Saturday - Venus enters Cancer - Gann fan cross
6/10 - Sunday - Moon enters Aries
6/10 - Sunday - Mercury enters Gemini
Last time we had this many planetary events in a 4 day time period was during Consensus 2018 last month.
Next there's June 18th... as in 6/18... (Golden ratio anyone?) and this day is at the apex of the pennant that we are forming from our run up to 20k. Fun fact: Kepler characterized Harmonics Law on May 25th, 1618. Nice timing with that year, Keppler! Also, May 25th is when the Buddha's birthday is celebrated.
6/18--- Neptune Retrograde - I've been trying to understand how different planets could affect price action and I'm afraid I don't have enough experience to talk about Neptune retrograde in that regard. What I can say is that Neptune retrograde is a wake-up call to the delusional fantasizers. The big question is who is delusional; the bears about the price dropping or the bull greedy for the moon?
Gann Fan - so in a previous chart I published, about how hype 4/20 is going to this year has a Gann fan apex/wedge/crossing at 4/20. If you press play, bitcoin literally drove right into the wedge, continuing upward. It's not at cleanly depicted in this chart bc scale has things slightly off, but subsequently parallel to the 4/20 apex is a Gann fan apex at 6/18. What does that mean? mmmm, I'm counting on the Bearish 5 Drives harmonic to play out.
6/26 - Mars goes retrograde - This isn't looked as favorable but we shall see how it goes.
7/7 - Mercury enters retrograde zone - This should be daytrading- short term bearish.
7/10 - Jupiter goes direct - bullish. Planet of wealth, abundance, expansiveness goes direct is a good sign. When mercury went direct (4/15) we took off. 5/3 - Mercury left the retrograde zone and that day is associated w one of our double top/highs from the April bull run. We also have a Gann fan cross on 7/10 reinforcing the significance of that day.
7/13 - partial solar eclipse - historically a bullish event. Significance reinforced by a Gann fan crossing.
7/26 - Mercury goes retrograde - Bearish
7/27 to 28 - Total Lunar Eclipse - Bearish
I use astrology to find confluence in the story that's being told w price action. I am very much a novice and appreciate you hanging around to read the end. :)
WOC - IOTXBTC TRIPLE BOTTOM FORMATIONIOTXBTC just completed a triple bottom formation with higher lows each time bouncing from the support area around 0.00000600 sats the next targets at the 1.618 and 2.618 are listed with the potential of going way higher after breaking its current all time high which should happen after correcting the second point of exit this last target will easily be over 1300 sats.
Messing with more curves.. v2Greetings! Hope everyone is having a great week so far, and just wanted to bring a small update to my previous post. You can tell our chart is being played out correctly and it looks like we're still looking for that bottom at $6,000 or so. My other concern is entering a long-term bear market if we break the support line from 2017. Feel free to leave your thoughts below so we can all figure this out!
GBP/USD Bullish Shark Pattern FormingA Bullish Shark Pattern is forming on the daily time frame in
a dense Fibonacci confluence zone consisting of the 88.6%
retracement measured from 1.3027 to 1.4377 as well as the
61.8% retracement level measured from 1.2589 to 1.4377.
Price broke through the Bearish Three Drives Pattern above, and it looks
viable at the moment that the breakout level will be
re-tested in the days/ weeks to come. Note also the
Fibonacci confluence zone in the 1.3700 region,
consisting of the 50% retracement level of XA, the 38.2%
retracement level from 1.2589 to 1.4377 and finally the
38.2% retracement level of the CD leg.
Obviously the 1.3700 level will be crucial in determining the direction of price from there.
Trade long (RvR 2:1)
Entry: Close above 1.3320
S/L: 1.3124
T/P 1: 1.3483
T/P 2: 1.3712
As always, scale out your profits and adjust stop/loss to
suit your risk management profile; also, be careful of
shorting the market where price is at currently since we
have reached a level of significant support.
Happy trading
USD/JPY Bullish Wolfe Wave and Bullish 3 Drives PatternBullish Wolfe Wave pattern with a projected Bullish Three
Drives Pattern could potentially - if realized - finally break
heavy resistance at the 115.600 level.
For the moment a bearish a correction looks very likely - look
at my previous post with a bearish White Swan Pattern on
the 4 hour time frame - as a Doji was formed on Friday. Even
if price breaks and closes below the initial support trend line
formed in 2016, price will only be bearish if it closes below
the 106.60/50 level as well as below the Wolfe Wave
support trend line.
Look to go long again once price reaches the 107.70 level,
which is the 61.8% retracement level and target the
113.500/600 level above with stops below 106.80/70.
From there, we will have to wait and see if price adheres
to the projected Bullish Three Drives Pattern and look for
new trade entry opportunities.
Happy trading
I like curves.. Noobie messing around. >:)Greetings everyone! I hope you're all having fantastic trading luck recently with all these random opportunities popping up all over the boards! I'm no specialist with TA and frankly I don't know how much of it is legit, but it's fun to mess around with charts and see what you can find. I personally am going to stick buying below or right around $8,000. I feel like there's a good chance we could just have some sideway action on that bottom curved line, and fall to $5,000-$4,000 within the next couple months. Please feel free to give your opinion in the comments whether it be criticizing my post or your personal opinion on the matter!
December Live Cattle Bearish CypherNew pivots for Live Cattle. Now projecting Bearish Cypher. Cattle was in a three drives pattern and the fall today may signal further downside to S2 at 106.475. Cattle made pivot today at 111.050. First target is uptrend line at 109.050. Cattle is under the 20 day MA.