BTCUSD TARGETSSome BTCUSD targets and a Pitchfork to asses overbought/Oversold ranges within the bulltrend.
Ichomoku
USDCAD TO BUYThere is enough support for USDCAD to buy right now. Price has crossed the Ichimoku moving averages.
TP: 1.3275 or ABOVE
STI OUTLOOK 140920. weakness persistsThe STI is struggling to hold on to 2500. All indicators are on a downtrend.
To negate short term weakness, the STI must close back above 2540 - 2586 and hold.
The Medium and Long term prospects are weak and in a persistent downtrend.
2200 is the next target is weakness persists in the MT.
US30 16 July 2020 Daily Analysis BooBooDooDooDaDaI expect the price to correct to 26510 or 38.2% Fibonacci retracement.
The reason why it gets corrected because I notice in the Ichimoku indicator that the Tenkansen and Kijunsen are far separated. When that happened it will attempt to get closer for equilibrium.
On top of that, the price deviates too high from the Kijunsen which also indicates inequlibrium which eventually will get closer (correction) towards the Kijunsen.
If it goes below 38.2% and daily closes below 68.2% then the chance for a bearish reversal gets higher.
Speaking of the Eliot wave, I expect a 5th wave to the upside to be formed sometime today as seen in the chart.
GBPUSD TO BUY (GDP and FOMC STATEMENT NEWS)Based on how this trend is developing from the GDP and FOMC news statement, GBPUSD is looking like a buy right now. Please continue to pay close attention to this pair of the development of an uptrend for a buy.
TP: 1.247-1.25
Long SBM OffshoreLong SBM Offshore
- New uptrend started
- Close above 150EMA > rejected, but managed to close above again + break the swing high.
GBPUSD Will Continue To Rally Up!Since Monday, GBPUSD has been a long and still has the potential to rally up through the remaining of the week. For tomorrow, we can definitely experience more gains as a long.
USDCADThis swing trade setup has good Risk to Reward. Looking for price to continue up throughout the week, target set for 1.33500
SHORT EUR/USD Trading Strategy / TechnicalsThis is my trading strategy for EUR/USD Short for the next 4 - 6 weeks, I combine a Fibonacci Retracement, a Fibonacci Extension and the Ichimoku Cloud - For good measure I'll add an RSI and MACD indicator as well (to monitor movement of the market at that given time in that time frame)
Trading strategy for the next 4 - 6 weeks:
Based on a 4hr. time frame - We have a solid long red candle on March 07th - I expect some retracement to take place to the 50% fibbo extension @ 1.12049, I'm setting my stop loss 3 pips above the 38.20% fib extenion (1.12366) and my limit @ the 100.00% Fib extension to the 1.10835 price level. After this move I expect some retracement back to the 1.11756 price level (it may go a high as 1.12045 50% extension fibbo level ). I'll jump back in and set a trailing stop (@100 pips) and ride this puppy all the way down to the bottom 161.80 fibbo extension level; my limit will be 1.09303.
Hail EURO!EURCHF has broken out of cloud with Chikou span free with bullish TK Cross and Kijun is also not flat. It also aligns perfectly with zone to zone.
GBPAUD!We have a bullish TK Cross on 4Hour and it seems it's just struggling to break 1h previous support and should be on its way to the top here. I will be closing this if 4hour is back down to bearish and fails to break the cloud through-through.
GBPNZD IS A BIG SELLGBPNZD is a BIG sell due to news on the MPC Official Bank Rate Votes, Monetary Policy Summary, and Official Bank Rate today at 7AM EST.
Price and Lagging Line will soon pass beneath the cloud.
TP1: 1.9100
TP2: <1.9100
AUDJPY SellCloud is indicting a sell for AUDJPY. This could probably ride the entire day tomorrow as a sell.
TP 1: 83.5 TP 2: 83.3 TP 3: 83.1
BTC short term outlookBitcoin broke down from the short term bull channel that started on 1 May. As I am typing this we are testing the uptrend line of this channel.
Should a candle close above it we are back in full bull mode. My guess is it will probably be range bound between 9460 and 9680 for the next few days.
If the bears manage to break the weak support at 9450 the next test will be 9200. There is some support along the way but it is weak.
If support holds at 9200 we can expect it to rally to 9800 where it will face a little resistance. If that resistance folds we are breaking 10k.
If the bears break support at 9200, we might see 8800 which is the next major support. Or we can get stuck in the cloud and be range bound again.
I am currently long from 6900 and will exit if the bears take 9200 and wait for the next long. I am currently bullish but there are some key decision points ahead.
Happy Trading!!!
Cable might pull back before moving higherIt looks like the cable topped out last Friday. We might see a pullback past the 50% retracement of the last leg up.
I will enter at the 61,8% retrace as that's where the kijun sen will probably offer support.
My stop will be below the last swing low. Take profit target is set at an older resistance that is clear on the weekly chart.
QQQ rejected by KJ Line on 4hrQQQ is not a safe buy here. We have a bearish normal TK cross in the cloud and a clear rejection of the Kijun line on the 4 hour chart. Cloud is also twisting red which is another indication of a more downware movement ahead. A second item to note is the DMI. The (DMI-) is at 33 with the ADX at 43. Both are indications that the bears are still in control. We bounced today and will most likely fall tomorrow to create the 2 of a possible 123 rebound. I will not be stepping in here to buy until we get a bullish cross on the 4 hour TK. I am short until then.
