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British Pound/US Dollar UpdateThis is my view on the British Pound/US Dollar from a weekly perspective. I feel as though the tide is changing for the Sterling, FINALLY. The #1 indicator that'll never fail you is Price Action itself, and since we know this I'll share my thoughts as to why I believe it'll eventually head further up. Confluence (3 or more): 1. GBP had bottomed out, but multiple touches dating back to October '16 on the $1.2132 level have been respected. 2. P.A. has formed the 'W' formation near the $1.2132 level from the weekly. 3. 1st touch of the zone ($1.2462-$1.2669) underneath current price was respected. Precursor. 4. Multiple touches have taken place with the O.B. ($1.3486-$1.3617) that's holding up price. Absorption. What would you like to see happen now? I would love to witness more bearish momentum UNTIL P.A. reaches the $1.2462-$1.2669 area to then see if the flow of price reverse. Let's say it did go down, but didn't "respect" it... then what? I would wait for a B.A.R. of that very level in order to short it to the next barrier. Okay, what if price never reach that level below? That's when I would wait for a B.A.R of the $1.3046-$1.3082 area to long it to the next barrier. I would anticipate price to go deeper into the zone below IF it happens to revisit, and there's some nice *profit margin* heading to the upside once that upper O.B. is absorbed. We shall see.. Also, if my analysis help YOU in any way, shape or form then please consider donating to the cause. It's appreciated.
by ChrisJTradesFX
ARCHER TO RALLY?ASX:AXE Archer Materials Limited is a materials technology company developing materials in quantum computing, biotechnology, and lithium-ion batteries, and exploring for minerals in Australia. The Company has strong intellectual property, broad-scope mineral tenements, world-class in-house expertise, a unique materials inventory, and access to over $300 million of technology development infrastructure. After a great announcement this morning titled "Chip build fast-tracked with qubit modelling" in which advancements have been made in their quest to build quantum technology that will be integrated eventually into existing electronic platforms, some would say that having a signed partnership with IBM is also very advantageous. We have seen a bullish move within the Daily Ascending Triangle but due to the markets unpredictability we play Bull and Bear and here are the scenarios below. Bullish: Daily Ascending Triangle continuing to be respected Re claimed the 20MA Bullish Rejection out of the Ichimoku Cloud MACD anticipated bullish cross Stochastic approaching the 50 with anticipated cross Bullish break inside Ascending Triangle hunting 25% Internal Target 1 if respected. IF Ascending Triangle Completes and Major news is released, Fractal Targets 1&2 are as displayed. Keep in mind Major Resistance needs to be broken and I'd wait for confirmation of direction around the Internal Target 1 zone. Bearish: Fail Ascending Triangle would see us test previous Equilibrium then potentially Previous Support Stochastic would fail the 50 and reverse MACD would turn Bearish and spread Break the Ichimoku Cloud similar to July break Forming Large Scale Bullflag identified by Green Rotated Rectangle needing another touch which would GAP Fill 08/05-11/05 Definitely a company to add to your watchlist. IMO DYOR DISCLAIMER: NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation.
ASX:AXELong
by Trader_Johnni
1
Idea zoning BTC/USD chart's history to visualize possible peakThis idea is based on my idea of Bitcoin's future on a logarithmic scale from Jan 17, 2019. Target is some corrected and I tried to show some zones depending on different market environments depending on peaks and events like halving. To define a target zone on a logarithmic scale is pretty meaningless and the fib retracments are a hint but cannot be crucial to define a peak End of 2021/Beginning 2022. This was guessing - looks nice but is still a prediction. A better guess is to assume that the resistance curve is some more flat and could be hit at 140K Please note that I deeply believe in this development but this is NOT A SUGGESTION to take a loan, debit your credit card to the edge, and buy Bitcoin like crazy. You rist your, your family's, company's and friends' wealth. Only risk what you can afford to lose.
BITSTAMP:BTCUSDLong
by jagottsicher
2
EurCad Currently, price action is at the support zone on the 4hr tf. If we look to the Daily, we can see that the market structure is in uptrend. If we look left on the 4hr tf, we see that this support zone has not been broken/still respects the zone. If price breaks and retest then the support has becomes a resistance zone . This means price action will be short untill the support of the trendline . Wait and see how price reacts to that level to determine buy or sell. I personally looks for confirmation patterns/candle to determine my entry. I would love to hear some feedbacks.
Long
by mastercampbell