rookiyong

rookiyong

A tricky pair to deal with right now, but this looks like a good point to go long. Price has tripped upwards, so fingers crossed, bottom is in. Not having massive upside though. Be nimble. I think we will eventually get to 1.3380 but not before doing some double or triple corrections above.

rookiyong

The correction is about done for AUDJPY. Price has retraced back into supply zone and decent area for a short.

rookiyong

Price has completed an ending diagonal, a very reliable pattern for an aggressive unwind to Wave 4 of the previous degree. Upside target $122.

rookiyong Updated 

Price retraced back to Wave 4 of one minor degree and is at confluence of 61.8% of Wave . Potential short here with close invalidation at 28.6k. Target at 24k.

rookiyong Updated 

We are one month into this price range without any resolve. Rectangles typically break upwards. We did have a breakout but ended in a false break. Now a pre-breakout structure is forming with price moving steadily towards bottom of the rectangle. IMO breakdown is coming within the next few days.

rookiyong Updated 

If you think that the DXY has bottomed, consider expressing a long position on USDCHF.

rookiyong

Last week, price formed a Tower Bottom on the Daily, providing a clear support zone. The retracement has been done, and price has today confirmed the pattern by opening above the Tower Bottom pattern and EMA. Could be a slow trade, but good odds of reaching at least one target. Good luck!

rookiyong Updated 

This swift move down from 22 June has not done any retrace, most likely a wave C of Expanded Flat. I am bullish short term. See below for similar move in Bitcoin daily from early 2023. Also an expanded flat. Cheers!

rookiyong Updated 

ETH at resistance. Similar structure as Apr high. Big move up following by several small candles. Unlike BTC, ETH don't always sweep the previous week high. Short at todays open with easy invalidation above 1950 could be a good RR trade. Its crypto, be careful and risk small.

rookiyong Updated 

Last week, price formed a diamond top on the 4-hour chart. Diamond tops are nice patterns, but quick up and quick down. The profit has been made and I believe the correction is done. Price should head much higher from here (see Daily chart below). For less aggressive entry, wait for price to move above the blue box.

rookiyong Updated 

Does all CME gaps get filled? I don't know, but almost all the gaps in 2020/2021/2022 got filled. Now we have a few gaps left on the chart. Not hoping that this will happen because my target low is 13/14k, but there is always a possible swift move to 9k scenario. Macro conditions can change quite suddenly. Always stay safe.

rookiyong

CADJPY is currently sitting on 61.8% retracement level. The shaded corrective structures shows that correction is ending / or has ended. On LTF, price has broken resistance levels. JPY index also is on a pending up move. Once USDJPY starts moving, we will have a potential big move to the downside. Good luck, and don't forget to take profits in case it runs...

rookiyong

Breakout? Doesn't appears like it. Wave 5 looks done around here and price could be heading down. Short with invalidation at 1.72 and target at 1.61. No confirmation yet but a good RR trade if it works out. Good luck!

rookiyong

A Running Flat has formed on on cable. Running flats typically runs 5 or 7 points. Currently at its 5th point. Building a position on shorts. 1.235 or lower is on the table.

rookiyong Updated 

The move up from 6 Apr 2023 has been corrective with no clear wave count. If we deviate here, likely heading back to the same low for a completion of Wave (C).

rookiyong Updated 

Is silver on a breakout? Higher timeframe wave structure suggests that we aren't in a impulse move. Betting on lower prices.

rookiyong

Breakdown of horizontal corrective structure. Possibly heading to 94. Good luck.

rookiyong Updated 

If we get a deviation here, potential rally to target at range highs $2.9 / $3.0.