FieryTrading

FieryTrading

AUD/CAD didn't manage to break through the resistance. it's reversal was accompanied by bearish divergence in the RSI, signalling a strong bearish move down. Consider exiting your position around the green marked area, since its close to the trend line.

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BNB/BTC broke through a major support (now a resistance) two days ago. Bearish sentiment has not stopped or reversed, but instead signalled that it wants to keepo dropping. Bitcoin's dominance is not going to diminish anytime soon, meaning bad news for the X/BTC pairs. The next major support line is found around 12.3k sat, ie the November 2018 lows which...

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GOLD has been following a descending wedge since last summer. The elections caused a surge in demand, but things went better than expected and risk hedging died off. With the current macro political and economic climate I see that the demand for gold is dying, which would cause the price to fall. The descending wedge pattern is a classically bearish pattern,...

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NZD/CAD recently broke the resistance of 0.9, signalling a further upward move. It appears that NZD/CAD is following a channel, so I've selected the green area as a possible exit opportunity to exit the long trade. As long as the oil price either declines or stays flat, bullish momentum for this pair should persist.

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EUR/JPY has failed to break through the upper trend line, continueing to follow the downward sloping channel. Consider exiting the short trade around the support line, since it might reverse there.

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PayPal has recently regained momentum, bouncing off from the lowere trend line in the channel. Recent price behavious is showing higher highs and lower lows. If macro economic sentiment stays positive, like now, we might see PayPal hitting $215 soon again. Think around 2 weeks. Consider exiting your short term trade around there since its a major resistance,...

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EUR/GBP has been falling slowly since September. Today's bearish movement signalled a drop towards Support 1. In case bearish news keeps dropping, consider moving your exit towards Support 2, although the trade is considerably more risky.

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TSLA finally got added to the SP500 yesterday. The pre-market price is already up more than 13%, with more bullish action happening today as retail traders will enter the market. My take would be that retail FOMO will drive the price to $500 per share in the next few days. If more good (vaccine) news will hit the market next week, we might even see a share price...

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Last time I made a similar post about Bitcoin's parabolic behaviour, we were still below 15k. Only 11 days later and we might already be hitting 17k soon. Bullish sentiment is higher than ever. Together with the stock markets, Bitcoin profits from the US elections and the reduction in uncertainty. Pair this bullish sentiment with the constant addition of USDT...

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ETH/BTC is following a channel since early October. Recently it has hit the upper trend line of said channel and reversed direction. With Bitcoin showing very bullish behaviour, my guess would be that ETH/BTC will continue to fall in the short term. Consider exiting your position around the green support area. If Bitcoin keeps on rising, you might keep the short...

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AUD/JPY is continueing to show bullish behaviour this week. A good place to exit your long position would be the green marked area, in conjunction with the resistance line.

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AUD/CHF's price has been sloping upward since early November. The last push towards the Nov 11 high has started again. Low risk trade setup. Consider exiting your position around the green marked resistance area.

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CRV is booming at the moment. Over the last 10 days CRV has seen over 130% increase in value, without any indication of stopping soon. We might see the price hitting $1 over the next week. When we zoom out we can clearly see that the price is following a Cup pattern, with the lows being hit late October. Volume has seen a big increase as well since then. People...

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CAD/CHF has formed a channel since August. Currently the price is in an area of potential short-term reversal towards the lower trend line. We want to make sure that the price is actually bouncing off the trend line , so wait for a 4H candle to close below the confirmation line before entering the trade. Consider the Target line as a potential profit target....

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CAD/CHF has formed an upward sloping channel since late October. Currently the price is in an area of potential short-term reversal. We want to make sure that the price is actually bouncing off the trend line, so wait for a 4H candle to close above the confirmation line before entering the trade. Consider Resistance 1 and Resistance 2 as potential profit...

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Ethereum is starting to form a double top on the daily chart. It might be a short consolidation period before it takes off again, but if we get another red day we might see the price falling lower in the coming weeks. In case you're in a long position, consider taking some profits if the price continues to edge lower today and tomorrow.

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EUR/JPY has formed a bull flag amid a strong bullish surge in price. In case the price turns bullish again early next week, consider waiting for the price to close above the confirmation line. Resistance 1 and Resistance 2 are great short & mid-term targets, consider exiting your position around there.

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CAD/JPY broke through the upsloping trend line. Prepare for some short term bearish action. Consider Support 1 as a good potential target to close your position (partially). Lasting bearish pressure will push the price towards the next target, Support 2.