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WHY 1.17 IS SO IMPORTANT ABOUT EURUSD AND WHAT HAPPENS NEXT?Hello traders,we are all witnesses to this EURUSD recent rally triggered by French elections and it's outcome and continued by Mario's Draghi speeches and the slowdown of Dollar and US economy generally. Now we are all wondering where and when this rally will stop? Let's see what technical analysis has to say: TECHNICAL OBSERVATIONS 1.We can see the red resistance zone created by the weekly and daily structure. 2.We have also Fibonacci confluence as the 1.13 Fibonacci extension from the downward impulsive move coincides with previous structure. 3.We also have a bearish harmonic Crab pattern completion. 4.If price passes the red resistance area and the 1.17200 level it's more propably to watch the 1.20 soon.. 5.If we would stop before 1.20 OR we rejection and bearish price action there is a valid harmonic pattern completion. 6.We can also see the ascending channel of EURUSD. POSSIBLE SHORT TRADE: BUY STOP AT 1,19700 ENTRY PRICE WITH PENDING ORDER AT 1.18200 FIRST TARGET PRICE T1 AT 1.13450 SECOND TARGET PRICE T2 AT 1.1000 THANKS FOR SUPPORT! KEEP FOLLOWING FOR MORE PROFTIS!!
by The_Greek_Trader
The Bitcoin Rally LONG Continues #2In my opinion, Bitcoin seems to be completing a Wave 4 Triangle formation and will soon breakout of structure to start wave 5 LONG. It seems Wave 3 has already been completed and provided another base Resistance level. Wave 5 target range would be largely due to the impending Aug1 SegWit, as information was provided on my previous analysis here: which it explains the impending August 1st SegWit upgrade and the market entering panic stage (wrongfully because of too many amateur traders), which most likely will result in a deep ABC or possibly a very lengthy double combo WXY Wave combination, until the market settles and things return back to normal. In my analysis, I have added 2 paths which I believe are highly probable to take place, one primary and one secondary. TDI suggests the RSI is not yet quite reached the overbought position, therefore, we can expect an additional upward move, which in my opinion confirms again the possible wave count. I have already entered 3 times since price action had reached the Gartley entry point on the 16th of this month and I shall be holding on to BTC long-term, as I believe once the upgrades have been completed and the panic by the amateur traders has subsided, BTC is surely set to reach above $4,000, possibly more in the next few months. It is also possible to trade the breakout of structure from the triangle formation, however, TP must be at the next Resistance level SL (Stop Loss) must go to BE (Break Even). ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
BITSTAMP:BTCUSDLong
by UnknownUnicorn661419
CADCHF broke historical trend lineCADCHF has been decreasing since November 2011. For almost two years, and more precisely since “Black Thursday,” when due to drastic and unexpected collapse of the market caused by the decision of the Swiss National Bank to abandon the rigid EUR/CHF exchange rate at 1.20, pair broke key support at 0.7850 and since then moves in consolidation. Take a look how precisely the bearish trend line is being tested, which for several months has stopped bulls from further growth. Currently, as a result of months of bullish market has once again reached its vicinity and yesterday it was defeated. Permanent overcoming this resistance could open way for bulls even to 0.7850, which is the upper limit of consolidation. It is only breaking the top that can change the general attitude of the market for a longer period of time.
by Comparic
POTENTIONAL BULLISH GARTLEY AND H&S PATTERN ON USDJPYAs we can see we have a lot on USDJPY daily timeframe to watch out. The Trump trade as people like to call it due to it's sensitivity to political facts,as people tend to dump US dollar and buy Japanese Yien in times of crisis and turbulence as safe haven asset and vice versa. So let's get to the point: TECHNICALLY As we notice price is trying to establish the 200EMA which became flat recently. As we can also see at the chart we might form a bullish Gartley pattern on the daily chart but we have also a possible Head and Shoulders fromation. So we have 2 scenarios: 1)First scenario the price can move upwards to test the neck line of the Head and Shoulders formation and if will break it test the A point around red area before we see a retrace to T2 of the Gartley's pattern and 61,8% Fib retracement of the current move up. 2)Second scenario the price will move to the D completion point (green area) where the trade will be activate with targets T1 and T2. POSSIBLE TRADE FIRST TARGET T1 AT 105,500 SECOND TARGET AT T2 106,300 STOP LOSS AT 102,600 THANKS FOR SUPPORT HAPPY TRADING TO ALL!
by The_Greek_Trader
Ethereum likes technical analysis...Recent `war` on Bitcoin lead a lot of traders of digital cryptocurrencies to others options,such as Ethereum. Ethereum`s triangle ABC broke upwards. We can create the first target by clone bc side of the triangle and move it upwards to AD. We can see that the first target is already reached. The second target T2 it`s created by EF if we clone AB side and put it at the day price broke the triangle. We can put a stop loss inside the triangle and above a very good support at 45 area. Volume appears to be more intense on upwards moves. LONG AT 60 AREA STOP LOSS AT 45 AREA HAPPY TRADING GUYS!
BITFINEX:ETHUSDLong
by The_Greek_Trader
Breakout from structure confirmed with Bullish GartleyIt seems we have 2 confirmations on this pair, one with a clear breakout of structure with an additional confirmation of a bullish Gartley on the Daily and Weekly. MACD seems to indicate bullish price action to follow whilst on both RSI and Stochastic we have overbought status at the moment so we can expect a pullback before continuing to break through the second trendline around target #1. Elliott wave count currently suggests bullish movement also with Harmonic (Gartley) confirmed which also suggests bullish movement to follow. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
Long
by UnknownUnicorn661419
Falling US T-Notes: A Major Macroeconomic IndicatorThe Bond Market. It is often overlooked by traders despite its instrumental role in the Global economy and determination of large macroeconomic trends. Major technical damage has been done across the board in the bond markets recently and this can be directly attributed to the new President of the United States. Donald Trump plans to explode an already enormous budget deficit. He plans to finance the proposed increases in government spending with low yield 30 Year fixed rate US Government Bonds rather than shorter term Treasury bills. The market is already starting to anticipate this influx of supply. The prices of US Bonds are falling and the yields are rising as a result. At this time the Federal Reserve must hike interest rates to preserve their credibility. Additionally, the US Dollar is currently appreciating relative to all other foreign currencies which erodes the purchasing power of foreigners and discourages the purchase of US Dollar denominated Bonds. Falling demand will contribute to the prices of these bonds declining much further. Unless yields rise significantly faster than inflation rises, which is extremely unlikely, the value of these bonds will continue to decline for the foreseeable future. Please leave your thoughts comments and a like if you enjoyed this post! Happy Trading and may the market move in your favor.
OANDA:USB02YUSDShort
by IceTrading