The BTCUSD is currently in channel and a breakout to their either determines our future position.
Meanwhile, the btcusd just broke a strong trendline but has failed to retest the trendline instead it pulled back down. Now the channel will help determine if we will be expecting a retest or not.
Trade safe.
The NZDJPY is currently at a decisive zone and every safety-minded traded would definitely avoid jumping in here. We wait for a retest either in our Plan A zone or in our Plan B zone.
The AUDNZD will be making its way upwards as the main Support has been reached and price has shown signs of struggle in getting past the level. A trend reversal pattern is about to form and when that does its a good buy to risk 204pips in pursuit of 540pips. Another 540pips for Target Profit 2.
Strictly for swing traders.
Also note that viewing the chart from the...
Here is a Rectangle Analysis on the USDJPY, Although not clearly on the action to take on this as its displaying sought of uncertainty, with the price dancing round the Pivot line. I'll just sit and watch to see the heads back down and em' retest with its head facing the bottom side them am gonna pull a Bearish Trigger. But if it does otherwise and retests on the...
Perfect Rectangle, Bullish pressure drastically reduced at the pivot line but I can't just enter. I wait for a retest then boom, we hit the market with a Sell.
Bitcoin is likely to head down now as the Support has been broken but a failed retest would mean the supposed Resistance is not strong and wouldn't be a good sell/buy in future. Meanwhile, if it successfully retests then we go short to the next support where we can be looking a buy.
Still in accordance with our Rectangle, the Bulls Gang are expected to take over the power from the Bears Gang come Monday as the price makes its way to our well tested Support line. Our Target Profit remains our Pivot line.
The Rectangle is strong and reversal is offering itself here, 80% chances the price is gonna head back down as it has successfully tested and failed to break past the Pivot line.
Based on the Rectangle drawn days ago, the GBPNZD is still expected to the respecting the Resistance that has been tested over and over again. High chances of a sell, as a rejection candle has also formed at the Resistance level. Price is expected to bounce back down.
