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Three Drives

$GVT Reach The Resistance Again. Signals? Neutral!Genesis Vision or GVT has only 4.4 Total Supply! This is like brotherhood of Lunyr (LUN) with only 2.7 Total supply. Well, not to close, but you got my point. They are a quite less supply coins and having good work so far and both listed on Binance. GVT price is almost the same like BNB price right now. $10. but with 43.6 : 1 supply. Crazy! Genesis Vision is on Financial Industry and already releasing their very own apps on both App Store and Play store. Yes, it's available for iOS and Android users right now. Judging from technical basis, I'm quite neutral but with bullish tendencies with 53:47 consideration. The very first factor is that right now the candle stick showing the same setup as before. It's three drives pattern. It quite work because the RSI was below 60. What makes me not bullish right now is that, yes the RSI level bounce from the support but i think the volume power is not quite good enough to hold it up, as matter of fact people might starting getting profit from latest entry since their consideration logically securing the profit as we're still in bear market. Logic right? The second thing is due all of respect with this one of the best token out there, it has 2x from the recent lowest point, you better need a correction before it's really getting too good to be through and might get dumped like Ontology and Nano or Walton chain and took along time to recover back. Well, those are my 2 cents. Trade safe!
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by blockchaindedi
CAD is headed to 1.2900The release of the Canadian monthly CPI* was sufficient motivation for the price to bounce off the resistance line on the 17th of August. Seeing that happen might determine traders to buy the CAD until the pair reaches the lower limit of the channel. The target is 1.2900 which is the whereabouts of MS1 (1.2890) and the extremity of a three-drives pattern (4h chart). Key fundamentals will play an important role in shaping this projection and eyes are on CA* and US* data release on the 22nd of August. Short, TP 1.2901, SL 1.3151 Long, Entry 1.2870 - 1.2900, TP1: 1.3040, TP2: 1.3140, SL 1.2837
by RCtrader2
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
Long
by AMTrader
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
Short
by AMTrader