Wait for Higher High ConfirmationLooking to trade the breakout up to the key resistance zone.
With a weakening of the USD last week, looking for the pair to go back up after a deep pullback.
Will go long if the downtrend line is broken.
200 EMA was respected last week so long bias.
Could possible trade this short if the trend line is respected.
Exponential Moving Average (EMA)
Cryptoccurency Peercoin vs Btc flag pattern with strong support Bearish movement stopped around 0.0002500 and tried to moved below for 3 consequent months. March comes with strong bounce from that level suggesting trend reversal. Pair bounced from mentioned level and created big bullish candles on monthly weekly and daily chart. Chart 4h intervals reveals quite interesting formations suggesting further gain of ppc vs btc. Energetic movement put pair in consolidation, 0.00050000 level is acting as strong support. Once again I assume that 200 Ema will help pair to bounce higher. My SL is placed far below 5000 mark as safety precautions. Many times pair is doing sharp movement to create doji candle and it triggers most Stop losses close to the strong support, then after candle is formed price is going in desire direction. It is also quite possible that pair will go straight to take profit area that's why I would prefer to open position now rather that wait for more confirmations.
Past Support = New Resistance. On Wave C CorrectionWe had a big drop last night. XAUUSD on a short term bullish wave. Now it looks like past support is new resistance. Im thinking there will be a drop to complete this corrective C wave, and then we may test resistance again and perhaps break through
GBPAUD double bottom and very harmonic three soldiers formationHuge doji candle formed in October stopped losses, then in next 5 moths pair created interesting formations close to 1.6000 three soldiers followed by double bottom. I put TP very high based on my personal calculation in relations to the three soldiers formations. GBPUSD rebound from all times low at 1.2000 which in my opinion will put pound in bullish mode for some time. It is long term position but I think it could trigger TP or SL in relative short time. If the pair will follow my idea I would suspect some side movements close to the 200 ema.
Neoscoin opportunity with very low risk and big possible profitBig bullish candle(some call it caffeine candle) from 15 of February established move which could reach highs from September. Pair was stopped by GAP and is on consolidation creating nice flag pattern. I would enter now or wait for pair to retest short term support established around 0.0001700 level. I'm not sure when or if the pair will go above GAP and it is quite possible that it will go lower. In my opinion this pair is testing GAP from last week right now. Price can move sideways for sometime and eventually bounce from 200 ema.
Pascal Coin buy opportunity It seems to me that pair found very strong support around 0.00012000 level. There is a visible GAP on daily chart which is respected very nicely on 4H chart.I would buy pair at this level with SL below mentioned support and TP around last highs.I would expect the pair to consolidate for some time around 200 ema, then eventually ema should hold the price and give it nice boost.
I think that it is quite possible that price will go down further which will make better opportunity to open long position with much better risk/reward ratio.
Displaced EMA EnvelopeRutgers news reminds me of a suggestion I had made to Support.
Combine the tools "Displaced EMA" and "EMA Envelope" so the envelope can
better fit the price action. User should choose channel width (as well as the
left-displacement), perhaps as multiple of Average True Range.
Resulting channel is better aid than trend-lines, and can resemble cycle
analysis of James D. Hurst.
Keltner channels are also more useful with option to left shift by half
the calculation period.
EURUSD strong by signal based on GAP and psychological levelI can see here strong rejection after attempt to reach 1.0500 level. Monthly candles showing nice pattern for the third time( Bullish engulfing) and closed above support mentioned above.
I see also two important formations :
1. GAP from daily chart(different broker) is respected almost perfectly with pin candle
2. Shadow of the candle reached Fibonacci level 38.2%
the safe target for me is 1.0800 area, when probably price reach 200 EMA on daily chart.
I would suspect that next wave will reach 1.1000 area in long term.
USDCAD - SHORT TRADE IDEAThis is another pair that I have been watching for a while now. There are multiple confluences to suggest that the downside prevails for this pair. The 50EMA has crossed through the 200EMA, suggesting a longer term momentum shift, with the bears now in control. The price has tried, but failed, to make a number of rallies but each time has found resistance. We observed an ascending channel, from which the price broke out below, coming back to retest the EMAs. I have set a target back down to the low seen in May 2016, which gives a lot of scope for a longer term short position.
EURUSD - BUY TRADE IDEA.I have been monitoring this pair for a while, looking for ideal level to take a position long. The price saw a brief bullish rally last week, but found a cap at the 50EMA. The price rejected this level, looking to make a push back down into previous supply zones. I am targeting this pair to move back down to a previously used support level, before making a final push back up through the EMA onto its target at 1.0815, which would be 225 pips.