This is on D timeline, a double bottom is clearly formed with the neck line being revisited after a retest. it look very bulish. The BNB/ETH also has a wedge which is aiming to be broken.
Was just playing around trying to find ideas if I should buy Chainlink using BTC and I just use the basic Fib and support line. What I found was consolidation around 0.5 and 0.618 before it broke the 0.5 resistance, now it has done its retest at the support line. I'll get some just for in-case-moment. ^_^d
The head and shoulder pattern formed has confluence with 0.618 Fib Retracement at 92.62.
If price breaks through the 0.5 Fib at 93.09, it will go to 0.618 Fib Retracement at 92.62.
Once it broke that level, it could go down sharply to 97.93.
Just read about the RBA's concern over housing bubble, china retail, and about pushing the AUD down. They all are very bearish. Hence comparing to the strengthening USD, I had a look at what the chart looks like.
Both H4 and D1 clearly show a down trend. There is a major support line being violated on both timeframes. This support line extends even back to 2007,...
New on trading, this is my first journal of my analysis. I hope that through this journal I can see what works and what needs improvements.
Looking at calendar, I noticed there was a speech by British PM, Theresa May. Reading what the speech was about, my initial impression was it's bearish.
Trend wise it's a bullish. However, when the market opens next, I put...
