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1272 Fibonacci Extension

USD/CAD and DXY CorrelationWe see a clear rejection off the 127.2 extension on UCAD, looking for short back down to the 61.8 level to meet back with trend line. From there we will see. DXY is ranging just above the 38.2 with a lot of upper wicks. It has formed a left shoulder and head so far, so it looks on track to complete a right should for the remainder of the summer and then a move back up to complete the H&S pattern. looking at the dates for correlation, both pairs seem to meet at the same date to rally back up.
Short
by TheCaffeinatedTrader
6
Gartley Pattern Says Sell BITCOIN?!As it was indicated in my previous BTC analysis, the price went up and then formed a shooting star candlestick, which is a reversal bar. There is a structure level at 10127, which acts as resistance level. However, it seems the price already started to go down, as the sellers momentum already there. Moreover, the BTC formed a Gartley pattern that reached a reversal 127% Fibonacci extension. From this analysis, it is expected that the BTC price will go down and Gartley pattern provides the levels for entry and exit. T1 - 38.2% T2 - 61.8% - Follow & Comment -
BITFINEX:BTCUSDShort
by Art_of_Trading
5