GBPUSD approching convergence area & oversold on the daily.Warriors!
Back for some battling! Lord Palpy took off he was tired waiting for a crypto crash so he asked me to take the throne back.
I am seing a really nice opportunity here, GPBUSD is oversold and getting to 0.382 of the move that started a bit before 2017 which is surrounded by a supportive area, and not far below that there is also the 0.786 of the smaller term impulse that dates from 102017.
We could bounce on 0.618, we are testing now as support a price which was previously a resistance as can be seen on the daily, but I prefer to wait for the next area which seem very solid, and an rsi even lower will allow me to go in even more confident.
I'll zoom in on that area when we get there and I'll scale in as best as I consider to be, a target will be estimated after a reversal level is hit.
Fibo
NEOBTC | Elliot 5th Rally %7.5 Possible ProfitDear All,
Neo started its ralli and now is officially on its 5th elliot wave.
1) Elliot 3rd wave just stopped at Fibo extension 1.0
2) Next ralli broke the resistance where 3rd ralli finished (@0.008735) then found support
3) now it goes to the last of its rally (short-term) at @0.009540
lets jump to the train.
BTC double bottom and FIb reversal @ 6kPerfect ABCD move lining up on the 4 Hour bearish fib.
If the range is broken at 6580 downwards it will be looking extremely good for a reversal at the 618 fib extension in the 6000 area.
lining up nicely for a double bottom as well.
There is still room on the RSI for selling to get there.
Bitcoin/USD - Fractals, fibo, reversals and channels.Whole move from March 18th to today (March 27th) is in fact a fractal of the whole movement between February 6th - March 18th, nearly identical (look on lower scales than 1d). Last time it ended on 78.6% fibo retracement and now we also fell near to that level (especially on Bitstamp ). Two such fractals one after another, one smaller then previous - creating triangles in smaller and bigger scales. Considering large volume during trend reversal attempt February 6th and the fact that price is still moving above linear downtrend line $19.8k - $17k, then sooner or later we should go up from this big triangle.
Moreover downtrend line from ATH 2.69% (linear scale) and local trend line March 5th - March 24th comined together into interesting channel from which we had many fake exits but still coming back - also a good sign.
>> AUDUSD << March 19th >> Short „Breakout“ Setup <<Hey Guys and Welcome,
AUDUSD broke back below previous week price action, we are following „Mid“-term Trend with a good RR.
Price very bearish last week breaking previous H4 Lows forming another Low after breaking out of previous week
small uptrend price channel.
Short: 0.77071
Sl: 0.77547 (45 Pips)
Tp1: 0.76543 (55 Pips)
Tp2: 0.85838 (125 Pips)
Feel free to Comment and Discuss my Trades.
Have a Great Week :)
Alan
The bear market on cryptocurrencies is over?In recent days has been spread news that Google will not allow cryptocurrency advertising of which this news may have been a factor that also caused a collapse in the price of cryptocurrency, now, after that bad news the price in general have recovered but within a downtrend, in time frames of 1 hour, 4 hours and daily the seasonality are still in a totally bearish trend, that means that the price is in a pullback, this is necessary for the downtrend continue down again. in the following chart with a timeframe of 1H I show my technical explanations of why a new projection will be presented downward: steemit.com
LTC/USD - Seeing Nice Move From Yesterdays Dip! Bonus!!LTC update and what my opinion is on the next moves within LTC. Saw a nice dip to just under $160 yesterday, which presented a nice buying opportunity in my opinion.
My general expectation is to see price break the fibo level I mention in the video and price to start making some nice moves up after this dip. Only time will tell.