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GBP/JPY - GREAT RISK-REWARDIt's safe to say that the pair is still correcting and will be doing so for the next couple of days after the most recent impulse starting the 24th of August (139.50 - 152.75). Now in my opinion we could be seeing a zig-zag correction and what makes me believe that that is happening is the fact that leg a was only a shallow correction relative to the size of the impulse. In the Flat highlighted on the chart we can see how deep of an "a" leg we got after the impulse which then developed into a full flat correction. Furthermore the pair could be facing strong resistance now with the b leg as the 61.8 Fib level aligns quite close to a minor resistance zone as well. My personal details: Short @ E: 150.40, SL: 151.20, TP1: 147.00, TP2: 144.60, RR: 6 For risk and money management purposes, always determine a max. of 2% risk on every trade. For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss. Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market. This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
Short
by Aqua_Trader
AdEx Currently Bearish with imminent bullish breakoutIt seems AdEx coin is near ready for a bullish breakout of structure, after completing an 'ABC' corrective wave. Current trend suggests bearish price action as the Water and Mayo EMAs have cross and are above the price action. 'TDI' shows the 'RSI' inside the outer constricted bands at around '40.0000'. The pattern suggests another possible bearish move downwards before some significant bullish price action to occur. The bullish moves may occur within the Yellow trendlines (triangle), however only when price action performs a breakout of structure, will the buy signal be confirmed. In my opinion, this is a great coin to purchase, still good at around 0.84 cents (US) at the time of writing this analysis. I'm going to purchase this coin on breakout of structure and I'm forecasting price action movements between 2 different paths, Cyan and Red. The Red being the most probable as it follows the typical cryptocurrency pattern of a curve. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
Long
by UnknownUnicorn661419
Eur/Gbp short term buy Long-term if we look at the daily structure, I think the pair is going down to 0.82-0.84. I don`t usually trade counter-trend moves but, this one here looks rather attractive for a short-term buy. As I see it, the price is consolidating in a flat (possible an expanding flat), and if my analysis is correct, we have to go up for a C wave. I will open my position at market price with a tiny stop and with a minimum target of 100 pips at 0.89 and the second target at 0.8980. You never know how far the correction might go, so I am not sure it will reach the second target, but reaching the first one is very very probable if structure behaves as projected.
Long
by MarcuDan
All signs point down..Using the trend web analysis method, we already identified the first the drop (thanks @DianKemala), and now, by measuring trends, angles, and time cycles, we can get an approximate value and time line for this correction. It's not just one piece of evidence that leads to the conclusion, but multiple.. please follow my thought process below: 1. EW Impulse from 1 to 5 identified on the 4H chart. Each period is measured: 1 = 58 days 2 = 14 days 3 = 78 days 4 = 36 days 5 = 47 days 2. What's important here is the corrective waves 2 and 4. If we superimpose 14 days right after wave 5, we see that it lands exactly at the end of wave A of the bigger corrective ABC. If we follow it by 36 days (wave 4), we got an approximate date on the end of the bigger ABC correction (mid to end of 3rd week of October). 3. Next, is the height of smaller wave C in the bigger wave 4 : if we superimpose this height on the trend line of major ABC correction, and we know where our bigger wave C will end (more on that later), then we can determine approximately when the bigger wave C will begin (end of this week, 29th to 1st) 4. We can also use the time it took to finish smaller wave B and C to calculate the length of time to complete bigger wave B and C. Marked by horizontal red line. Here, I am assuming that the time cycles are the same, but amplitude of the wave is increasing. 5. I measured trend lines across the waves and measured the trend angle: 0 to 1 -> 4 degrees exponential parellel channel trend line -> 7 degrees 2 to 4 -> 10 degrees April 15th drop to 4 -> 13 degrees (notable low) 4 to major A leg -> 25 degrees Now, this all sounds like a coincidence, but lets do a bit of math on equation x = 3n+4 , where x is angle of the trend line n=0 , x=4 n=1 , x=7 n=2 , x=10 n=3 , x=13 n=4 , x=16 n=5 , x=19 n=6 , x=22 n=7 , x=25 See something? Since the long term trend in bullish, and there for we are moving in a general upward direction, I have assumed that the next bounce from wave 4 to major wave C, should be at n=4 or 16 degrees. Why not 19 or 22 degrees? Well the drop couldn't be shorter than the length of the previous drop of smaller BC in wave 4. This left me with only one option which was 16 degrees. When I draw this trend line at this angle, it hits exactly all three points and a couple of trendlines as well. This gives a bit more confidence that I'm thinking in the right direction. 6. There are also two possibilities that came out, one is at price point $1970 which is 38.2% of long term fib, and the other is at the 23.6% of the long term fib where many trendlines are converging in a web ($1259). If the 50% of the impulse wave correction doesn't hold we can see those levels. 7. Of course, on top of all this, the RSI is also showing clear signs that we are still in a correction and we still have some more down movement to go. Please feel free to comment and like. BT
COINBASE:BTCUSD
by telnemri
1