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Wave-5

EURJPY: Undecided Yet !On EURJPY, price has invalidated our previous analysis by almost reaching the top of the A-corrective wave, so here are our 2 possible scenarios: 1. Up then Down: Price can reach the resistance (130) then dive downward and break the down trendline. 2. Wave Respect: Price can still validate our previous analysis if the A-wave isn't reached by the B-wave and thus the price would break the down trendline and when the price reaches the support have a new Long position there. Until then, Trade Safe and Best of Luck !
Short
by Therealsmaira
Ending Diagonal on BitcoinI don't think this is *THE TOP* but it is *A TOP*. Bitcoin has historically always returned to the 21 Weekly EMA before making a push higher, and we have not done that since the 10k breakout last year. Working theory is that this is a rising wedge/ending diagonal which is corroborated by the declining volume and volatility alongside bearish RSI divergence on the daily and weekly chart. Be careful in this range as ending diagonals tend to reverse rather suddenly and violently with few bounces for underwater longs to escape liquidation. I've drawn in what is known as a "throwover" on that last pump that crosses the upper trendline in a false breakout. These are common in ending diagonals and definitely worth watching out for since crypto tends to move towards the extremes. I fully acknowledge I could be wrong here, and this could be some kind of bullish wedge consolidation, but the Risk:Reward in this range is not great for me, and I would rather buy after a substantial pullback.
COINBASE:BTCUSD
by DennisLeeBTC
13
📚 The Perfect Impulse - Correction - Impulse 📚NZDUSD has recently given us the perfect impulse, correct, impulse move, which is probably our favourite pattern to trade. The market moves in waves. There's an impulse wave, followed by a brief period of consolidation/correction where buyers and sellers accumulate their orders. This is often followed by another impulse wave in the same initial direction as the first impulse. The great thing about these patterns is that we can have a clear stop placement, which is above the correction. If you have a closer look at this chart, you will be able to notice various impulse waves followed by corrections. Do your best to find them in your trading!
Education
by WicktatorFX
19