TraderEngineering

TraderEngineering

BTC has failed three times in its attempt to ascend to the top of the bull channel with three-pin bar bear candles closing on or near their lows. It's been a slow bleed to the downside ever since last Friday. We are nearing the 200EMA on the 4HR and should expect some support here. A good short entry may be at the end of the next bull bar or two if you're not...

TraderEngineering

USD/CAD had a fantastic move to the upside the first week of October which came to an end with a nice double-top reversal pattern last Thursday at 1.37850. Since then, we have had 2 pushes down and landed in a high-volume zone around 1.35800. At this moment, we have a two-leg pull back and about 24 hours of sideways price action on USD/CAD. The longer the price...

TraderEngineering

JPY showed a quick bout of bull strength on Monday and Tuesday of last week only to fall back down to the bottom of the wedge. That Tuesday bull bar could be the first sign of a reversal. This week, we should be looking for another bounce off of the wedge to confirm a move to the upside. The first target is the 9EMA of the Monthly chart between 784.0 and 785.0,...

TraderEngineering

USD/JPY showed a strong sign of bear pressure on Tuesday last week when the JPY ripped to the downside for a brief moment. At this stage of a bull run, this is likely a sign of weakness and a reversal to the downside lurks. My recent DXY analysis shows the potential for a fall below its 106.000 support, and the JPY analysis shows signs of a reversal to the upside....

TraderEngineering

Bitcoin continues to range between $25,000 and $31,000, a pattern ongoing since March of 2023 as we wait for a breakout in either direction. The analysis in the chart below is one I conjured in October of 2022 and so far has been on point with one *critical* exception; Bitcoin has not touched the lifetime support line as I hoped it would by early 2023....

TraderEngineering

USD/CAD made an attempt to break out of the bear channel last week with a high of about 1.37850 before pulling back to a close around 1.36600. The weekly candle closed below the bear channel top and so far this week, we've fallen another 100 pips to the weekly 9EMA around 1.35600. What does this mean for the bulls? The bulls have a pretty solid picture ahead if...

TraderEngineering

DXY had 11 weeks of bull bar closes until this past week, which ended with a pin top bear bar. The body was small and closed above the support line of the trend, making it a weak sell signal. This week, we watch to see if DXY bounces off of the intersection of the trend line support and previous high, or falls through to the Daily 30EMA at 105.430, or 200EMA at...