The price is now on a 4H Channel Down (RSI = 39.718, MACD = -0.350, Highs/Lows = -0.6671, B/BP = -1.1220) headed towards a 64.64 Lower Low. That is the EMA200 on 1D (neutral ADX = 18.800 but bearish on the rest) and the last buying accumulation point. The Higher Low on the 1W Channel Up is also located there (64.40) which is the ultimate support point. If crossed...
TP = 1,201 and the 1,196.20 extension hit, as the 4H Falling Wedge aggressively broke to the downside (oversold RSI = 20.705, STOCHRSI = 0.000, Williams = -96.604) since DX broke 96.50 and is currently steadily trading near 96.70. A new 1D Channel Down has emerged on Gold (oversold RSI = 24.320, MACD = -11.440, Highs/Lows = -19.1835, B/BP = -32.8780), which can...
EURPLN has eventually rebounded on the same distance bar from High to Low and is in the process of forming the Right Shoulder of the 1W Head and Shoulders pattern (RSI = 57.116, CCI = 10.8781, Highs/Lows = 0.0000). 4.3273 is a valid point to enter an additional short as the top is projected to be near 4.3400. A conservative TP is 4.25796 with the extension on the...
TP = 10.5800 as the 1D Channel Down on GBPNOK marginally crossed the previous Lower Low. As you see it is now limited to the resisting line, making repetitive Lower Highs under this mark, hence the neutral RSI = 52.471, Highs/Lows = 0.0000. We have place a new short now with TP again = 10.5800 and if crossed extension to 10.5000.
TP = 0.98981 hit as USDCHF broke the Rectangle on 4H, got rejected on the 1.00564 Resistance and eventually found support at 0.98679. There is a Triangle pattern forming on 1D whose RSI = 56.328, MACD = 0.000, Highs/Lows = 0.0015, B/BP = 0.0018 all point towards neutrality. We are taking advantage of this by adding a short with TP = 0.99173.
USDILS has made its new Higher Low (Highs/Lows = 0.0000) on the secondary formation on 1D, which is a Rising Wedge. The primary pattern remains a long term Channel Up (RSI = 57.452, MACD = 0.015, B/BP = 0.0069). We are taking this opportunity to go long, TP = 3.744410.
EURGBP has just been rejected emphatically on the 0.90324 Resistance and the 1D Channel Up (RSI = 51.984, Highs/Lows = 0.0000) has been put on hold. However it did find support and made a Higher Low near 0.8900, which keeps the Channel valid for another attempt at 0.90324. If it breaks then the 12-month long consolidation on 1W breaks and we will go long (TP =...
TP = 4.4846 hit, as the 1D Channel Down (MACD = -0.838, Highs/Lows = -1.1547, B/BP = -2.4051) continued its decline and OMGUSD now looking to price the Lower Low near the second target at 2.6561. With RSI on 1D oversold at 20.599 along with another 4 indicators, it is not unlikely to see a minor rebound (within the channel down) before hitting the target.
Both TP = 1.000 and 0.8000 have been hit, as the 1D Channel Down (MACD = -0.375, Highs/Lows = -0.5027, BBP = -0.9440) extended its Lower Low limit to 0.675. With RSI though oversold at 20.800 along with another 4 indicators, a pull back is expected towards 1.0040 or even 1.6900. That would be an ideal pricing of the Lower High. Our short TP is 0.1972.
BNBUSD has broken through the previous Rectangle and as seen on the chart is trading purely on repetitive patterns. 1D is near an oversold condition (RSI = 25.948, Highs/Lows = -3.1444, B/BP = -4.9294) and should look for a minor pull back (~ 11.000) before testing the March bottom = 6.97. Our TP on this bearish run is 7.5154.
As expected, BTC consolidated within our estimated Rectangle on 4H and today finally broke the 6,000 psychological barrier after a series on bearish 4H candles (Engulfing, Three Outside Down) reaching 5,858.6 on the 4th straight red candlestick. This projection was modeled after the identical consolidation phase on the exact same levels on the way up (see chart)....
TP = 0.12059 hit as XEMUSD broke the Falling Wedge to the downside and appears to be extending eventually the commanding trend of the 1D Channel Down (RSI = 26.153, ADX = 74.761). XEMUSD is near 12 month lows hence the low pace (MACD = -0.016, Highs/Lows = -0.0192, B/BP = -0.0408), indicating that a bottom (short/ medium term) may be near. If 0.08810603 breaks we...
Both TP = 14.293 and 13.189 were hit as the Ascending Triangle on 1D broke to the downside (MACD = -0.699, Highs/Lows = -1.3486, B/BP = -3.5334). We now look to the 1W Falling Wedge (RSI = 42.219, MACD = -1.616) for direction, which suggests that if 12.005 breaks then ETCUSD should test the Wedge's Lower Low and 2017 November low at 9.505. Otherwise it should test...
NZDDKK made a new Lower Low (4.2649) on the inner 1W Channel Down (RSI = 40.595, low pace still on MACD = -0.026, Highs/Lows = -0.0309, B/BP = -0.0786) and shoulde now give a minor bullish leg on 1D (already on neutral STOCH, STOCHRSI, Williams) to the previous 4.3524 High and Resistance. Our long's TP = 4.3500.
As expected the 165.3263 Low broke and the 1W Falling Wedge (RSI = 34.709, MACD = -86.950, Highs/Lows = -75.6494, B/BP = -164.8717) is now looking for the Lower Low extension. Our TP remains more moderate = 100.21 and with 1D on a 27.783 RSI and oversold on 5 indicators, it is a probability for next week.
TP = 27.10 hit as the 1D Channel Down (Highs/Lows = -4.7091, B/BP = -9.5398, MACD = -3.703) aggressively tested the support of the 1W lower trend line (blue dotted). The circle represents the break - out continuation point of this 1W bearish trend. If not broken then NEO will most likely test 27.08 as a Resistance on 1D and form a Lower High, before eventually...
Both TP = 115.494 and 102.00 in extension have been hit for Monero, as the 1D Rectangle broke on the downside (RSI = 33.951, MACD = -9.930, Highs/Lows = -10.6465, B/BP = -23.8378). As explained the price was always geared to follow the long term dictating bearish trend of the 1W Falling Wedge and the most optimal strategy always is to short every Lower High...
BTC finally took pause on the strond 1D downtrend (RSI = 34.712, MACD = -154.200) near the targeted 6,082.70 spot (yellow line) and is seen on a three candle consolidation so far. As seen on the chart, the sequence may copy a previous curve pattern as part of the H&S right Shoulder build up. That spike could be an additional short opportunity for those who missed...