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Short EURJPY MonthlyEURJPY is running on a strong Monthly Resistance Trendline. This would act as a strong barrier to break because it has been tested 3x Times. The longer and more times a trendline is tested without being broken the stronger it becomes. As Indicated the longer term weekly trendline has been broken and retested indicating strong selling signals. The 40 EMA also is in a strong downtrend on the weekly chart. TP1 : 111.200 TP2 : 96.000 This is a Long term setup therefore I will recommend a small lot size when entering a trade. I give signals daily on my telegram channel : otforex if you would like to receive more of my signals. Please leave a comment on my idea - Let's build a stronger Trading Community
Short
by OT_Forex
4
DOW JONES - EASY 12% SWINGHello and welcome to this swing trade idea! I hope you feel good and you are up to make some gains this week. If you ask me, I am ;-) Let´s just jump right into it: -Regular Bullish Divergence on the bigger timeframe: Usually this suggests a trend reversal (maybe we have a bottom here at 18200). -RSI: This creates in combination with the two-dot circles (25400/18200) the bullish divergence (looks good). -The arrows show us two moves, which can be described bull flags- the first one descending, the second one ascending flag, which is not a reversal, but a continuation pattern (looks good) -High Volume while selling on the way down to 18200 indicates we may have found a bottom- rising volume while carrying the bull flag and low volume on the retracements (red arrows) demonstrates low powered selling pressure (looks good) Prediction: -I think we will retrace once more (second red arrow) and retest the very last resistance at 20800, which is now a support level. -If this holds, we might see a bounce and a continuation of a third bull flag, or we might retest the 18200 support- at that point, we must wait and see if the support holds or if we see lower lows (would be bad sign) Conclusion: All in all, I am very positive up to this, though I am taking the risk of shorting to 20800. If we bounce, I will become bullish again. Note: I am bullish generally speaking, this idea is a swing trade idea for the short term. Hope this is informative to you, leave a like or a sub if you enjoyed the content, your german-quality-trader
DJ:DJI
by GER-Quality-Trades
BTCUSD | Block reward halving vs Corona crisisCryptocurrency market is highly efficient because we see all available information is immediately used by market players. Hypothesis of efficient market suggests price action should react far before an event happens. Block reward halving happens in May. Halving is a double reduction of miners' reward and thus it is a double increase of fundamental production value. Production costs are closely connected with Bitcoin market price Thus according to the Efficient markets theory Bitcoin price should have been very bullish during the last months and now it is adjusted and at its real after-halving value But what do we see now ? Bitcoin dramatically felt down in March and is now lower than it was in February. It can be explained by an impact of oil prices and corona virus crises. Oil price went down hence production of bitcoin at fas powered facilities felt down. At the same moment the world economy had a great reduction due to corona virus crisis. Hence in the short-term we have a decrease which can bring the price up to the global support of $6 390 level The most important is that in such conditions block reward halving is still more influential parameter because price action managed to recover fast and we see a great upward bullish pressure. Overall the forecast is the following Bitcoin price will have a small increase within 1-2 days till the RSI band near $7 049 level where a great resistance is located. This level was rejected numerous times during last week thus the most probable scenario is rejecting and returning back to the channel with a subsequent decrease with ABC pattern to its lower edge around $6 400. At this level we recommend to accumulate long positions because further we will have only few weeks before halving happens and this level will be a new global bottom. Corona and oil crises are temporal while halving is permanent and price will obviously adjust and go to higher levels due to needs of the whole industry. Best regards, SkyRock signals team
COINBASE:BTCUSDLong
by Skyrexio
4
Where is the stock market at according to Mr. Elliott?If you ask me, the worst is yet to come! You can clearly see on the chart that technical analysis would support we have only finished the A wave of a corrective ABC. I use the DJI as it perfectly corresponds to key Fibonacci levels and therefor it is much more predictible compared to other assets. How might this play out in the mid term? Below chart would make most sense IMO, retracing to +- the 0.768 FIB of the entire 2009-2019 bull market.
TVC:DJI
by ItsShowtime
The Impact of Corona on BTC (part II)The Corona virus tightens its grip on all of us as daily news comes out that causes many nations to panic. After the NY Times shared an article with the timeline of the progress of the Corona virus so far, I felt inspired to plot it against the price of Bitcoin. I published an earlier version on this before that was very successful, so I decided to do a follow-up. You can find a timeline here, based on the article where you can see for yourself how Corona impacted the price of BTC and how the subsequent panic caused many people to sell their assets. People didn't just sell their stocks, bot they even emptied their crypto wallets. JAN. 11 China reported its first death. JAN. 20 Other countries, including the United States, confirmed cases. JAN. 23 Wuhan, a city of more than 11 million, was cut off by the Chinese authorities. JAN. 30 The W.H.O. declared a global health emergency. JAN. 31 The Trump administration restricted travel from China FEB. 2 The first coronavirus death was reported outside China. FEB. 7 A Chinese doctor who tried to raise the alarm died. FEB. 13 There were more than 14,000 new cases in Hubei Province. FEB. 14 France announces the first coronavirus death in Europe. FEB. 19 Hundreds leave the quarantined cruise ship. FEB. 21 The virus appears in Iran from an unknown source. FEB. 23 Italy sees major surge in coronavirus cases and officials lock down towns. FEB. 24 The Trump administration asks Congress for $1.25 billion for coronavirus response. FEB. 24 Iran emerges as a second focus point of the virus. FEB. 26 Latin America reports its first coronavirus case. FEB. 28 The number of infections in Europe spikes. FEB. 28 Sub-Saharan Africa records its first infection. FEB. 29 The United States records its first coronavirus death and announces travel restrictions. MARCH 3 U.S. officials approve widespread coronavirus testing. MARCH 11 President Trump blocks most visitors from Continental Europe. MARCH 13 President Trump declares a national emergency. MARCH 15 The C.D.C. recommends no gatherings of 50 or more people in the U.S. MARCH 16 Latin America begins to feel the affects of the virus. MARCH 17 France imposes a nationwide lockdown. MARCH 17 The E.U. bars most travelers from outside the bloc for 30 days. MARCH 19 For the first time, China reports zero local infections. MARCH 23 Prime Minister Boris Johnson locks Britain down. MARCH 24 India, a country of 1.3 billion, announces a 21-day lockdown. MARCH 25 The United States leads the world in confirmed coronavirus cases. MARCH 27 Trump signs coronavirus stimulus bill into law. APRIL 2 Global cases top 1 million, and millions loser their jobs. APRIL 6 Prime Minister Boris Johnson moved into intensive care. APRIL 12 Prime Minister Boris Johnson moved into intensive care. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru
Education
by Trading-Guru
15