EURJPY Bullish Movement Weekly Chart AnalysisEURJPY Bullish Movement Weekly Chart. GBPJPY moves Similar. Only do buy trades for this pair.
Wformation
Ethereum put in Its place... For now... 790s or 1150s?! (ETH)Hello all!
Just started on Tradingview platform so I appreciate any feedback.
Anywho, onto the analysis! (Using 4H chart)
In my previous post(on my old account, I apologize), I commented on the Head and Shoulders Pattern on the 4H chart:
"ETH formed the right shoulder on the 4 H chart overnight essentially reversing the positive trend ETH was previously on. It took a plunge down to its ~750 support level . The target for the Head and Shoulders pattern formed is at ~790, which I expect it to take unless it can break out of this newly formed negative trend."
As an update, It seems that ETH is either forming a Bear flag(in White/some pink) which would be a continuation pattern of the new negative trend OR ETH is beginning to form a W pattern(REVERSAL pattern). This distinction is very important because it essentially determines whether our target is 790s(Head and shoulders target), OR 1150s(W pattern confirmation).
Here's the problem folks... We CAN invest now and take our chances, but this may be too risky... Or we CAN invest once we see confirmations, but thats boring and provides limited benefit. Would you rather invest in the low 900s and see it shoot up? Or invest in the 1150s and see if the trend continues? I'll let you decide but as for myself I would like to be apart of the early buyers.
What I am specifically suggesting is to wait to see if the middle part of the W "hits (around 980) and then bounces back off the Right bottom part of the W(around 907).
The Bollinger band is also very important to consider, and is the basis for the W formation. See how the Left side of the W comes down outside the bounds of the bottom blue Bollinger band. The RIGHT side of the W should come down INSIDE the bollinger band if it is a true W. If it goes down farther, or even below the bollinger band, this will signal that the "beginning" of the W was in fat just a bear flag and would give further evidence for the 790s target.
There are many other factors to consider such as the MACD and RSI. We will examine these factors as the price action develops. Until then, Don't Watch!
-Dr. Don't Watch
XLM getting reading for a new ATHXLM is a strong crypto asset in and of itself, worthy of a long-term hold. However, it's also at a really great entry point right now.
You can see XLM has been in a steady up-trend. Furthermore it made a new high, retraced, and is on its way back up. Looking at a 1 day chart it is a fairly obvious W formation, which indicates the previous ATH will be broken on the second leg.
It is currently forming a bull pennant and getting ready for its next leg up, although the move may take another day or two.
Basis: W formation, strong underlying, bull pennant.
Target 1: 6250 (62.5K satoshi)
Target 2: 6800 (68K satoshi)
Target 3: 7500 (75K satoshi)
Stop loss: 5000 (50K satoshi)
There will be wformation at BTC/USD It is a good idea to open long position at BTC/USD . market price is around moving average(50 the red one). if the market goes over the moving average(50) the price would goes to moving average (200 the turquaz one) which is 16000 usd . The profit should be taken at price 16000$
AUDCHF 4HPrice broke above resistance & is currently sitting above the 61.8 level. I believe more upside will come to this pair & weakness to CHF. "W" formation as well, for full target details ask for telegram I don't think ill be posting much on here from now on.. Well see
Second PULSE to short the first tp W pattern was hit now we wait for a nice retest to the M and sell to the second W
