At the moment BTCUSD is in a consolidation. I am expecting three outcomes as you can see. Due to the fact the 4H supply zone that has been touched recently is violated at the 30 minutes timeframe, I am expecting that the price might go higher to touch the 4H supply zone above the that is touched now. For now I would wait for more confirmation before taking a...
The price is now going higher from a 4H demand zone to a 4H supply zone. This 4H supply zone is built above the daily 50% range which increases the likelihood of being a profitable zone. I expect the price to go to the 4H demand zone formed at the low of the daily range.
We can see bull are back in the game, therefor I expect the price to reach the 4H/1H supply zone because it just touched the 1H demand zone. Share your thoughts.
Gold is moving down from a previous supply zone. Therefore, it is likely to go further down till it reaches the 1H or 4H demand zone. Comment are welcome.
A reversed head and sholder and a break through the neck line gives room for the price to go to the first supply zone. The second target is the length of the head to the neck line calculated from the break of the neck line. Both RR are above 2.
A head and sholder patern is forming. A break of the neck line would show possibiliy to the downside. The first target would be the support zone around the 78% fibonacci level. The second target is the length of the head to the neck line of the head and sholder pattern.
The EURAUD made a bull trap and might after breaking the support line which is close to the 50% fibonacci level. A break of this level gives room for price to go to the (blue) support zone which is at the 78% fibonacci level.
Oil is making a descanding triangle which indicates selling pressure. If price breaks through the support line, there is room for the price to go to $47.75 which is a support zone at the 75.6% fibonacci level.
If Oil breaks the neck line of the double bottom(RSI divergence confluence), it gives room to go to the first resistance zone($56.96). The second target will be the second resistance zone ($59.60).
When price bounces back from the trendline and confirmes through candlestick formation (eg. engulfing pattern), it can show room to rally to €123.72, which is a key resistance zone.
EURUSD made a double top and broke through the neck line. First target is the length of the top-neckline length. This is at the 50% fibonnaci retracement. The second target is the 61.8% retracement which is also a support area.
Gold made a double top with a pinbar which makes it likely for gold to go down to the first support area which is at the 23% fibonacci level (second target is support zone which is at the 50% fibonacci level). If gold breaks to the upside, the first target might be the fibonaci level 1.61 which is also a resistance region looking at 2012.
The price came to a resistance level which is at the 78% fibonacci level. At the same time it formed a triangle which can break out in two directions. If it breaks out upwards, the potential target is at the first resistance level. If it breaks to the downside, the first target is at the first support level which is also at the 61.8 fibonacci level.
