EURUSD Brokedown from the Pennant. Though this may go lower it is not a sign of reversal. The trend is still up.
#NotInvestmenAdviceJustThinkingAloud
#PriceCanMoveEitherWay
The recent high to be taken out is NOT a cluster of wide swinging candles. The move is still linear/orderly and there is a constructive shakeout that took out a batch of weakholders. The continuation of the climb is still doable. The trend is still up.
Currently EUR is on a pause after it took out the swing high. It usually takes 5 to 9 to 10 days for a strong asset to resume its climb so we may have 1 to 2 days more. We only look to go long as we want to trade with the trend. It's looking like a mini ascending triangle at the moment but it can morph if it does not breakout in the coming several days. If it...
GOLD Could Be Consolidating for a Breakout Attempt (see encircled). Also, an inverted H&S is also identifiable. A break above resistance (above 1375) is a good signal to go long.
#NotaRecoJustThinkingAloud #PriceCanMoveEitherWay
NOTE: The chart is an INVERTED BTCUSD chart and I will describe as if the price is rising. The intermediate trend is up and a reliable cup and handle continuation pattern seems to have formed. The price is trying to breach a level (see horizontal line). It has turned back. I outlined three scenarios. Two scenarios attempts to punch through the resistance level...
I believe that if ever Bitcoin will come of its lows and rally, the most money is to be made in BNB (Binance Coin) because it is a leader. Why a leader? Because firstly, it made its lows before bitcoin. Secondly, it is already trading above is EMAs as Bitcoin still struggles below it EMAs.
As the EMAs point still to a downward tendency, I am looking for a short entry on ZECUSD. I choose ZEC because it has shown greater downward momentum compared to other names. The chart presented is an INVERTED ZECUSD Chart. I will only take a short position if a base structure forms AND breaks. I'm anticipating a base because price will hesitate at these levels...
I am looking at a possible inverse H&S forming on the EURHKD daily chart. In the chart I have outlined what I anticipate to happen in the coming days and also my preferred buy point.
Not a recommendation. Just thinking aloud.
