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MPO

BTC/USD - Rising Wedge - Start of Consolidation?From the recent BTC price action it can be assumed that there was a fake breakout and the 11k level has hold. I have spotted a potential wedge here. Think might be a good short trade if we impulsively break it. Will wait for the 1h candle close before going short. Target is based on the MPO which coincides with uptrend line and 61.8% fib replacement. Think if that uptrend line is broken we will see a broader correction back to the 9k region.
BITFINEX:BTCUSDShort
by CAS_Trading
1
Perfect illustration of a Flag formationThis was an analysis of the DXY I did previous to the whole price movement upwards. My analysis was projected 09/09/2016 at around 7am before the market started moving. This is just to show you that technical analysis is a strong and very reliable method to make profits within the financial markets. I projected the MinPO from the previous spike upwards and predicted the same movement again after a the pull back (flag). The MinPO (Minimum Price Objective) was successfully hit... now a possibility for another flag formation in this pull back? Keep an eye out for this pattern... but of course the probability of this pattern occurring again is now lower, since market has already shown such price movements previously. APPROACH WITH CAUTION (Stop loss a bit tight maybe?)
FX:USDOLLARLong
by OSEA7