50ma
USDJPY SHORTStill in a downtrend with several rejections of trendline, creating new lower highs, failing to make higher highs.
Perfect wick rejection of the 0.618, which lines up nicely with the 50MA, descending trendline and the resistance area.
CADCHF LONGRejection of ascending trendline and 0.5 FIB.
Also rejected 50MA on the 1 hour. Nice small stop loss for this one with an open TP.
GBPCHF longBreak of descending trendline, creating a new ascending trend, forming new higher lows and higher highs.
Nice rejection of 50MA and 0.71 FIB
EURCAD LONGDouble bottom, new higher lows forming, looking for a buy back up to the 50MA at least.
0.618 FIB lines up nicely with the ascending trendline which price is currently rejecting.
USDJPY SHORTWe have seen a break of the previous support and looks likely to be turning into a resistance zone.
Looking for a pullback and a rejection of the support - turned - resistance before entering a short, entry likely to be around the 0.618 FIB
EURUSD LONGWere looking at a change in direction for this pair.
We have seen a break of the descending trendline after a lot of bearish movement. Forming a new higher high, likely to be a small pullback/retest before making further upside movement. A good entry would be in the golden pocket area/rejection of the 50MA.
GBPJPY SHORTSeveral touches and rejections of the descending trendline as well as the 50MA. Currently sitting in the golden pocket of the fibonacci.
GBPCAD potential SHORTThree clear rejections of the descending trendline,
Currently in the 'golden pocket' area of the fibonacci. Would be looking for a nice close below the 50MA before entering a short on this pair
NZDCAD SHORTWe have had a rejection of the 50MA, if we get closure below the 200MA and 0.786 FIB, will be looking to go short on this pair.
GBPCHF SELLLovely long wick rejection from the 0.786 FIB and descending trendline.
Would like to see break of the EMAs to confirm a short position on this
GBPCAD SHORTBreak and retest of ascending trendline, rejection of 50MA, 0.618 FIB and the previous support, now turned into resistance zone.
Looking for a sell down to the 200MA which lines up with previous descending trendline
AUDJPY ShortRejection of both 200 and 50EMA on the 4hour, as well as break of the ascending trendline.
On the 1hour we have had several rejections of the descending trendline
USDCHF shortPrice broke but failed to close above the descending trendline.
If we get a clear rejection of 50MA and trendline, will be looking to go short.
GBPAUD SHORTMy previous analysis on this pair was for a short trade. Unfortunately I missed the trade, however was pleased to see my analysis was correct.
I still see further downside potential on GA. I am now hoping for a pullback to the trendline which lines up with the resistance area and in the 50MA region.
If we get this, I am looking for a longer term trade.
EURCAD potential BUYDaily - Expecting a pullback to the most recent area of support, which also lines up with the 50ema. We have seen several rejections of the descending trendline and the most recent resistance area.
4HR - If we drop down to the 4hr we can see that price broke the ascending trendline, if we get the pull back expected, and a retest of the descending trendline, I would be looking to go long on this.
CADCHF short term BUYClosed above the most recent support area and 50EMA.
If next candle opens above the support, will be looking for a short term buy up to the next resistance, with a nice small stop below the most recent low.
GBPCAD longWe have had a nice rejection of the 50EMA and the ascending trendline.
Will be looking for it to reach the previous high so may be a longer hold trade
BTCUSD; A Fork in the Road BTCUSD has come to form nice Bearish Wedge on the Daily Chart. We must be very close to a direction decision as we are now being 'pushed up against the wall' of the 50MA & the huge downtrend line of resistance at the same time, both of which we have basically bumped our 'noggin' on 5 out of the 8 last days...
Also in play, what could be considered the Left Shoulder and Head have formed, now we're possibly headed down to $5800 range support for the beginning formation of the Right Shoulder.
Volume is dwindling as well. All of this looks Bearish, but the market is so tricky these days with all that's happening in the world with Economics and Pandemic issues.
Either Bitcoin will bust through the 50MA and Downtrend line and ascend to the $8000 range / 200MA area or begin to descend to $5800 support.
What's your sentiment?
Likes & Comments appreciated,
Thanks,
-HP
NZDCAD potential buyIf price fails to break the descending trendline and 50MA will be looking for another buy on this pair.
RSI "DEATH CROSS" & "GOLDEN CROSS" during Pandemic VolatilityJust a quick idea that shows how, as the Covid-19 crisis worsened, the RSI "Death Cross" clearly indicated the huge drop off in price that was about to occur.
Conversely, despite record unemployment claims in the US, when the RSI "Golden Cross" recently occurred, the price was able to break through previous resistance.
Potential GBPUSD ShortLooking for a break and retest of the trendline, a break of the 50 EMA, both of which line up perfectly with the 'golden pocket' area of the Fibonacci.
