JanKoristka

JanKoristka

Resistance level is already rejected and now we are going downside. From a weekly perspective we are definitely bearish. Also strong fibonacci levels fit with our S/R zones. GBPUSD and EURUSD has positive correlation BUT this week we could see different scenarios. I am long on GBPUSD and short on EURUSD. That all based on a Price Action.

JanKoristka

Last week I analyzed GBPUSD and our prediction became a reality (Link in description). From a weekly, daily and 4-hour perspective we are still in a strong bullish move. Last week price rejected 0.618 fibonacci level which fits with a support level and pushed to the upside. Price is creating a Double Bottom pattern. My overall TP is at -0.272 fibonacci level which...

JanKoristka

Hello traders ! Do you like that gradient background ? (Tell me in a comment section) - I really love it ! 👌 Ok,let’s take a look at Gold. We can see a resistance rejection and a high bearish pressure in the ascending trendline channel. Did you spot it ? Yeah,you guessed it ! We can see very nice Bearish Flag pattern. How is that pattern traded ? Length of a...

JanKoristka

We have formed a pennant pattern with a strong support trendline. Also Elliot Wave Theory tells us that we need one more touch of that support before price explodes up.

JanKoristka

Really strong ascending trendline channel is already broken and retested. Price also made nice pennant pattern and rejected a resistance level. We can definitely expect bearish pressure because it’s needed on higher timeframes as well. We have similar scenario as on my previous analysis (ETHUSD).

JanKoristka

Weekly timeframe - We need a confirmation of a support level which is nicely combined with a candlestick pattern - Bearish bias H4 timeframe - Price rejected a resistance level and a terendline. Ascending trendline channel is also broken - Bearish bias In my opinion we have very nice opportunity to SELL this cryptocurrency.

JanKoristka

I am sorry for the latest USDCHF update. I posted wrong timeframe. So here is the right one. Price is going in our direction.

JanKoristka

Price is in a strong uptrend on H1 TF but it is weakening. We can expect break through a trendline channel and support level. Why ? Because we need to retest a consolidation box which is already broken. (Huge blue rectangle). This consolidation box is important for a daily timeframe.

JanKoristka

Price made a Double Bottom formation. Now I expect a little move to the upside because we need to confirm that pattern. Then we can expect move to the dowside. Our target could be set at a potential support level. This level also fits with 0.382 fibonacci retracemment. These support and fibonacci levels are important for a monthly and weekly timeframes so they are...

JanKoristka

In the history price has always respected 200 SMA. Now as we can see price is heading to 200 SMA again. What can we expect ? So I will look for potential short opportunities. Then we can expect another bounce to the upside from this zone. There are two possible scenarios. 1) Price will break our resistance level and will go up 2) Price will bounce from our...

JanKoristka

Price already broke from its consolidation and is heading downwards. If actual candle closes below that significant actual level,we could take short position. Support level also fits with 200 SMA. Gold is in an uptrend but now we can see that pullback is forming. And we definitely need to see a pullback before another bullish pressure.

JanKoristka

We have 3 reasons for a potential BUY opportunity. We have confirmed 200 SMA,support level and also a trendline. After price will move up,it will complete a Double Bottom formation. What does it mean ? A Double Bottom formation is a reversal pattern so we can definitely expect more of bullish move.

JanKoristka

As we can see,price broke from its consolidation and is heading down. You can see that support level nicely fits with 0.5 fibonacci level so it’s really strong combination and we should expect move to that level. If this prediction becomes a reality,we can have nice 1:9 RRR.

JanKoristka

We have bearish signs on a higher timeframes which are confirmed on a lower timeframes. I expect a breakout through this trendline channel and then move to the dynamic support (200 EMA) which nicely fits with a demand level.

JanKoristka

Nice "Impulse-Correction-Impulse" pattern. EMA’s crossed. No caption needed,I am short because of that nice move.

JanKoristka

As we can see, 0,5 fibonacci level nicely held a price. 20 EMA and 50 EMA are also crossed. After that price will reach our resistance and will finish Elliot wave theory. We have a lot of reasons to go long.

JanKoristka

GBPUSD is showing broken channel. What should we expect ? Our first scenario is move to the downside. It nicely fits with EURUSD analysis. BUT our second scenario is bullish. Why ? Due to fundamentals (US is printing more money which leads to inflation and this leads to GBP strengthening) and possible support rejection we could expect upside move as well. If it...

JanKoristka

As we can see EURUSD rejected our trendline again. On a higher timeframes we are more into short bias and on a lower timeframes it is confirmed (in my opinion). So I expect move to the downside. Scenario n°1: Support level rejected and then move to the trendline. Scenario n°2: Support level broken and continuation to the downside.