Bitcoin update:BCUSD - battle between Bulls and Bears continuesBitcoin is caught in a major battle now between Bull and Bear with Bulls looking favourites to win in the end - so long as 1689-1679 can continue to be defended at all costs.
Major
Bearish butterfly on the GBPUSDStochastic overbought on the daily. Trend has reached a strong resistance zone. If the trend continues to move up and passes the box consider the harmonic pattern invalid.
Wait for your sell signal.
Always use risk management.
:)
USDCAD SHORT term MAJOR trendline Rejection expectedUSDCAD SHORT term MAJOR trendline Rejection expected
Wait for a good risk reward
GBPNZD SHORT term major Resistance rejection & harmonic patternGBPNZD SHORT term major Resistance rejection & harmonic pattern
EUR/USD – Eyes 50-day avg supportFailure at 1.0767 earlier today followed by a drop below 1.0739 (previous session’s low) adds credence to the failed bullish inverted head and shoulder breakout and a bearish break from the rising channel and has opened doors for a sell-off to 50-DMA support seen at 1.0676.
On the higher side, only a daily close above 1.0828 would abort bearish move.
EURCHF LONG term Major support rejectionEURCHF LONG term Major support rejection.
This is not my analysis -credit EXCAVO
the best view at this point.
GBPUSD SHORT term Waiting for Trendline & Major support breakoutGBPUSD SHORT term Waiting for Trendline & Major support breakout
XAUUSD SHORT term major resistance rejection expectedXAUUSD SHORT term major resistance rejection expected, wait a daily reversal.
AUDNZD SHORT term Major resistance rejectionAUDNZD SHORT term Major resistance rejection.
place your stop loss below the resistance.
$OCEE Not much to say except Stem Cell Patent and Reverse MergerWatch it as it still is low on the RSI with major potential now.
Wait and See AUDUSDStill need data from US before make any decision...
Signal from price action like bearish engulfing will be a good consideration to sell here...
BEARISH TRENDLINE BREAK GBP/USDAfter a bearish week previously I am looking for additional trades short after profiting from the initial break of the inside trend line. A little retracement up to 1.2400 area could provide an optimal short opportunity with targets down at 1.2500 with a 2:1 risk reward.
if market does not retrace, a strong close below 1.23113 will also provide a decent shorting opportunity with slightly lesser risk reward gains with targets also down at 1.2500
EU Long, POT extend of the leg or rejection thru the UptrendEU is now in the basic rejection uptrend line, potential continuation thru the Strong Uptrend line and rejection to the major resistance in 1.161.
There is another resistance at 1.39-1-41, however this is not strong, just confirmed in the last 3 months
EURGBP: Pullback Right into the TrendHey guys! After EURGBP broke through last week or so with an absolutely beautiful Complex Head and Shoulder's Pattern, I spotted that the profit target for the H&S Pattern would actually pierce through the 0.74850 Major Resistance Level! (Pink line).
Weekly also show a sharp downtrend, with the H&S Pattern head directly touching the 61.8 Fib level
What influenced my decision:
-General trend for Weekly is very bearish
-Prices just retraced and reversed to the 61.8 Fib Level on Weekly
-Profit target for H&S Pattern shows it would pierce through
Hmm, for now, I'm staying bearish! If so, I'll probably wait for a retracement back to the level before selling!
Maybe someone can shed some light on whether 0.74850 would hold? :)
Complex Head and Shoulder's Pattern:
thepatternsite.com
Good luck guys! May the pips be with you!
GBPUSD: High Probability Double Top?Hey gang! Found quite a high probability Double Top right here on the Daily Chart!
1.46664 Major Resistance level has held and a bearish bar has come!
What influenced my decision:
1) Weekly chart shows a downtrend
I will only take trades that follow the general trend.
2) Price retracement has reached the previous low of the impulse wave on the Weekly Chart (1.46664)
This represents a strong resistance level
3) Major Resistance level held at the same level, creating a double top formation.
NOTE:
Guys, please, wait for the price to break through the neckline first. Many traders always seem to trade before it breaks due to greed and end up losing.
A Double Top formation only has about a 35% chance to break through the neckline. When a Double Top breaks through, it results in a 73% success rate.
Which is better? I think its pretty obvious.
Good luck guys! May the pips be with you!
XAUUSD - EXPECTING 1200 AND LOWERAfter bouncing from a major weekly trendline with bearish divergence,we're only looking to go short on this market.If you missed the first opportunity which was the breakout of that previous correction, another place to enter the sell would be in the breakout of this next corrective structure.This may be a deeper correction so don't rush and be careful. After breakout price may stall a bit before going lower but if it does, it may hit 1200's and lower.Trade your plan,plan your trade.
Look in the comment section where weekly and daily chart is shown.
GBPUSD: Retest of Major LevelHey guys! Found a good retracement back into the resistance level inside a channel! Good short all the way down to the end of the channel maybe?
Good luck guys! Let me know how it turns out!
Oh yeah! There is a volume divergence on the 15 min chart! Just more info to give a clearer picture :)
Pennies to Thousands IWV ETF Where We Get Our CandidatesAs you can see all the major indexes are an important resistance.
On weekly: it has resistance at the 50 day.
All our indicators have turned neutral or slightly down.
We will probably have a consolidation or a pullback of a Fibonacci ratio, probably to an important moving average or the cloud.
During these periods we still may have candidates but you will have less of them.
We deal with this on our book ( Pennies to Thousands ) on the chapters of: Money Management and Putting It All Together. Also,on our Youtube videos ( Pennies to Thousands ). We will soon have a website for the special traders community looking for low price growth stocks that can become a multi bagger. We recommend you join for the fellowship of other traders, for our good ideas with entry and exit rules, for our video and audio tapes, to help with the psychology of trading and for our daily market commons like you are reading here.
