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VRC/BTC Poloniex 2HBouncing off the upwards trending bottom of the channel on sunday/monday however velocity was low. There is a potential down-side channel forming Leading to support Level 1 (Yellow Channel), and current resistance short term seems to me just below the weekly pivot @ 7189. This could be another good entry for an R2 Breakout like what happend on the 10th. R2 sits this week at 10,500. The charting also seems to show a similar yet smaller duplication of price action from the 7th threw the 10th (pre break out) On the tenth R3 was hit on a wick. This weeks R3 = 12,100. Personally I do not see it likely that a run to R3 this week is a plausible case. Reasoning: The 1st trip to R3 on the 10th was VERY short lived with multiple wics encountering heavy resistance. R2 seems to have been met with candle bodies 5 times in that four day period. If this is an uptrend (Still needs to be confirmed) that resistance may become a new support level, which would be above the weekly pivot. In addition a wedge is also being formed (Green Line A & Blue Line B) Traders love their wedges and we are on what appears to be the bottom of that wedge. It may be a decent bit of price action to play the wedge aswell. If line A breaks significantly, this could go into a longer term down trend for consolidation at much lower levels. Green Line A is 100% critical. As Always, this is NOT a forcast. I am NOT a professional, nor am I a market maker. This is simply my personal idea shared. YOU TRADE at your own risk!
V
by BTCFailWhale
EUR/GBP SIMPLE ELLIOTT WAVES EUR/GBP price made a bearish move to the mental post-brexit barrier and strong 1D support level. We are currently following a comfortable Elliott-Wave pattern hitting A.B,C,D waiting on E Daily Bearish hammer formed at 1D support level (0.833) which is a strong indication of a reversal. Heiken Ashi candlesticks should turn Blue (Bullish) tomorrow if price follows reversal candle, setting price up for a bullish move towards 1D resistance SL: Below 1D support TP1: 0.86 TP2: 0.87 RISK/REWARD: 5.23
Long
by RenkoBuddy
9
Dow Jones Bearish FibonacciHere we have some Fibonacci ratio confluence that could be very powerfull We have stops above the 1.618 extension wich, in case that price action breaks it, means that the price is not overextended and that it has a high likelihood of going bullish. So we will expect a move towards of take profit or stop loss next week. You also have to have in mind that in summer markets are very slow so, patiente. Remeber your setups, do not trade other setups wich you dont know nothing about, just in case. Trade responsibly!
TVC:DJIShort
by SrBrems
US Dollar Trade PlanUS Dollar has shown very little price movement since the 2014 bull run. US Dollar has stayed in a tight range and based on technical indications we could be seeing one more low before a catapult to higher highs. US OIL , GOLD , SILVER, EMERGING MARKETS Rapid movement in US Dollar can have a big impact on USOil as well as silver XAGUSD and gold XAUUSD. Higher US Dollar can also have a big impact on emerging markets EEM and we could see money flow from US into other investments.
FX:USDOLLAR
by QuantitativeExhaustion
3
XAU/USD Market Analysis and Trading Tips 6th July 2016 Overview: The Gold markets rally during the course of the session on Tuesday to the level of $1370. At this point in time, we strongly believe that market is on its bull rally and ready to go higher. The Gold market sentiment is still positive. The main trend of Gold is bullish on charts and and market is sustaining above the 100 days moving average on its 4 hourly chart. It is having important resistance level at significantly psychological number at the level of $1400 and support level at the level of $1340. On its 4 hourly charts, MACD is sustaining in its positive territory and RSI is sustaining in its buying zone indicating the upcoming bearish trend in the oil prices. On intra day basis one can go for buy on lower level strategy. www.tradingsignalreviews.com
FX:XAUUSDLong
by TheBanker
2