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Descending wedge morphs to Ascending So as I stated in my last publication hope for the best expect the worst and in this case we got the best!! That volume accumulation i posted toward the end of the publication (which was not originally there at the start of TA) which just goes to show you the volatility of such an exciting and growing market still in its infancy. Thanks to the 99% aka minnows we have managed to Stop the whales from shorting hence no pivot & consolidation but direct continuity and next stop at $8440. Market was oversold and volume had drastically dropped but it did not seem like the HODLers we’re willing to wait for this weekend to end or Monday/Tuesday for their consolidation. This is ascending wedge has presented us with a short opportunity and my guess would be at our next target 8440. Update more later!
BITFINEX:BTCUSDShort
by a1mtarabichi
1
Possible XAUUSD (GOLD) Weekly shortBased on the break and retest strategy on the weekly timeframe, I'm going to look the lower timeframes such as 1H/4H/D to look for short confirmations when price reaches my previous broken support zone. Also, The weekly broke a previous level of resistance and could be tested as a new support. Same here, I will be looking for the lower timeframes such as 1H/4H/D to look for long confirmations once prices comes back in to this zone. If price breaks through the previous weekly support zone, I'll be looking for shorts at the demand zone above.
OANDA:XAUUSDShort
by rupafx