What's currently holding BTC up-a simple low-angled trendline.Each time price reached that line, it's held it up so far but how long can this be held up? Comments are always welcome.
Trendlineconfluence
BTCUSD Confluence of Support Bounce Probable??????? We have a huge confluence of support right here. We are testing the trendline from the December High. It also is right were the current upward trend from June is along with price resistance/support lines. If you look at the daily chart there is currently at a huge confluence of support and it is likely that we will see an bounce or a reversal of this downward move. When we broke out of the resistence from december we never tested it as support therefore the price needed to come down and test that same trendline that was resistance for so long. So there is a high probability of a bounce. I hope we reverse on this bounce and continue up. I am not sure which way we will go, but if we go down below 6k I believe we will follow this trendline from the December high down. This trendline is the thin orange line that is extending from the green pennant trendline from december high. I am not saying this will happen but if it does I am putting a target between 2.9K and 4K. But until we break below are current trendline I am expecting a bounce in the short-term which could be wave 2 or 4 of an upward impulse meaning the move can't be over. Others think this is a correction from the downward, but with this impulse reaching 8400 it should have invalidated most of those bearish counts. So whats next move????? There is one other count where we just move sideway with lower highs
NZDUSD UpdateAs you can see the NZDUSD pair on the 1hr chart is approaching the trend-line set my the previous descending highs. We will see how this plays out. The market makes the same setups every time. Wait for a break to the upside or a bounce back hopefully to the next daily support.
EURUSD long analysis - 4hr.Here we see several factors lining up as confirmation in a zone between 1.1713 and 1.1760
fibonacci cluster zone
8 month trend line support test
head and shoulders bullish pattern
Demand zone
With these confirmations lining up there's a solid risk return setup to go long
"Trade what you see not what you think" Bearish Sentiment Validated confluences
1.Weekly Trend line valid
2.Support broken Resistance validated
3.Trend Trading
4.Profit margin 1:3
5.Breach of higher Bollinger band
XAUUSD SHORT TRADE FOR ABOUT 650 PIPSA short opportunity for a solid profit reward ratio of about 1:5
Confluences of short term supply zone + head and shoulders pattern breakout + 4H TF trendline touch for our solid entry Zone.
Keep your eyes on divergences to make sure for more conservative traders on this opportunity.
Happy Trading month to all.
USDCAD POTENTIAL LONG OPPORTUNITYLooking for Buy opportunity at current trendline. Push up may be due to news.
Look for entry pattern.
USDCAD Sell the breakoutHello folks, nice trendline play, sell the breakout to lower trendline resistance. gl/
X marks the spot.Target 1: intersection of 38.2 bull and 50 bear fib rays.
Target 2: intersection of the 50 bull and 50 bear fib rays.
Trend Line BounceFX:USDCHF
Price is currently spiked up to the current trend line took a short position at 1.00856 looking for price to zig zag its way down to 0.99318!
Patience is the key
EurGbp Bearish crap, trendline, 78.6 fib confluence. EurGbp has formed bearish crab pattern and there is also trendline resistance and 78.6% fib confluence.
TECHNICALS | EURGBP Confluence of H&S, Trend-line & 200MAPre-positioning for a break of the trend-line and 200MA. If the neckline of the head & shoulders pattern is breached, there's likely to be some bearish price action.
Fundamentally, I see all the risks in the Euro vis a vis the Sterling. I think this could be the trade of the year!
Prepare to SHORT EURUSD - H1The EURUSD is preparing for a short.
You can enter at 1.0425 and exit at 1.0330
HOW I TRADE (VERY HELPFUL!!)HOPEFULLY THIS HELPS YOU GUYS!
REMEMBER TO HIT THAT LIKE BUTTON!
GIVE US A FOLLOW AND ASK ANY QUESTIONS IF NEEDED!
THANKS
TOM
Long SODA on TL Break, Divergence and Daily SupportDaily S/R zone and trendline support are being obeyed which provides a nice R/R opportunity to go long. An hourly TL break in addition to momentum divergence and an oversold RSI provides a nice entry at around 19. Target the minor resistance around the nearest missed weekly pivot with a SL below recent lows.
GBPCAD Potential bullish Cypher pattern with trendHere we got another one of the infamous harmonic patterns with trend on the 4hr timeframe. This pair have been a little choppy the past weeks, so look out for how the price action is going to behave. We need an over sold RSI and a good retracement. Since this is a with short term trend we got 2 targets, i recommend to close half position at target 1, move stop to break even and let the rest run to target 2. But its only my personal rules.
Please take care in the market this week, we got a lot of news announcements and Greece god knows how much trouble thats gonna make this week so lets keep it sharp.
For those that follow me we started the week out with an 88 pip loss, we got a few order open in the moment that is running on profit. This morning we got 3 perfect setups that just got within few pips of our entry and then ran straight to targets so it was a lot of pips on the floor there, but i guess thats the game.
Kind Regards
Thomas Jeff
S&P 500 - fast approaching upside targetsHello all,
hope you are enjoying the nice weather and even nicer stock market rally of late. It is a bit surprising to see the S&P 500 move to new highs into June but when a bull is charging it is often dangerous to draw lines in the sand. One can often get run over at best and even bankrupt oneself at worst. Regardless, a while ago I published this chart about potential topping zones for the SPY and I thought I would put it out there today once again and do some review.
Three component analysis:
Price: As well as hitting all posted bullish ab=cd harmonic price pattern objectives, we are fast approaching a trend line confluence that is sitting right on a 161% Fib extension level. We are not yet there but as we approach those levels one should take caution.
Volume: Volume/money flow still appears to be healthy and today's higher bar implies the buyers are not done yet.
Momentum: There are underlying signs that momentum is not healthy. At present Willy is rather 'stupid' which implies no new purchases should be considered. Additionally problematic, we have a potential bearish momentum divergence building within the raw MACD.
Put it all together and I would be super-duper reluctant to do any new purchases within the stock market in general until we get at the very least some sort of consolidation.
So with that said, lets review how our two 'camps' ought to be positioned currently:
Traders ought to seriously consider taking at least partial profits on longs established from lower levels at/near the indicated 'topping zone'. Additionally, at present it is way too early to start considering shorts as there simply are no setups to consider.
Investors who took CRI's last S&P Investment Model buy signal (December, 2011) are sitting on monstrous percentage returns and have absolutely no reason to touch those long positions.
Cheers all and hope it helps
You can find the slide show summary of CRI's S&P 500 Model on Google docs here: docs.google.com
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