Bitcoin Pressure says on whilst trapped within the impulse wave. Should hit 6928 soon and make a bounce...if short great - stay that way until Bitcoin can escape the parallel on the upside, whenever that comes (track it on 15 minute) and close out and go long for quick bounce to old support... That's Ok for day-traders, maybe, but swing traders are still...
Price has been respecting this descending channel for the past couple of months, we have see consistent lower highs and lower lows. Price is currently in a region where it could re test the higher end of the channel, if we see rejection around the 0.97900 level we could then see a further downside imo to the 0.95280 level which is the fib inversion of the recent...
After falling from consequent 2015 highs of 138.95 and 134.65 down to 101.88 in mid 2016, CHFJPY bounced back to 0.5 of its previous move where it faced strong supply zone and and thus formed point 5 of the major bearish yellow formation. Following that, the price resumed its downtrend. Even though, this global outlook is useful to understand the long-term...
It looks to possibly be time for a correction with BTC. A major trend line has been broken that held strong for over 80hrs. We also had a long legged doji on the last 4hr candle. If there is ever a time for a correction after this last run it would be now.
Trading is a game of probabilities, not certainties. The AUDUSD has been a headache for most Elliott Wave Theory traders. But we're about to get confirmation on whether we'll see an Intermediate or Minor Wave degree impulse or the beginning of the Primary Wave degree correction. Sounds complicated? Let me simplify: Just wait for the long candle stick that...
Despite no significant upcoming economic indicators from neither Australia or New Zealand central banks, a correcting movement is observable after a perfect impulse pattern. Expect a flat corrective wave before the next impulse. Trade on rallies if you're a scalper, otherwise just wait for the Wave C go deeper into the 1.0300 price area.
It appears that Litecoin is breaking up from a non-limiting contracting triangle, which may be wave-(e) of a larger neutral triangle. If this gets confirmed by breaking over 70 USD in the next few days then this is very likely to head towards ATH in the next month, and could go as high as 150 USD before seeing a major correction. This "major correction" will...
Channel theory doesn't seem to work. We're definitely in an Elliot Wave, 5 of 5 (fifth wave within the larger fifth wave). Which is a mad bull, of almost insane proportions.
The following days and weeks will be presented with relatively good news for Canada's economy as the forecast for the next economic indicators looks favorable for a strong Canadian dollar push towards parity with the US dollar. This information will be the backbone to justify the end of the current's pair upward correction, initiating a new bearish impulse. It's...
New month new candle close on the Higher timeframe. AUDUSD closed and rejected my Monthly key level. This along with the continued Higher high closes and continuing to respect the ascending tend line makes me think we could see a retest of the 0.8100 level. We also have had a rising 3 candle formation on the last 3 months (I think that s the name of the...
After analyzing the bigger timeframe perspective of the GBPUSD, it seems that the market cycle for this pair is heading for a bullish trend . The Fed Interest Rate decision will determine the continuation of this trend, although it's more than likely that the Fed will maintain the current Interest Rate value until December 13th. Utilizing the Fibonacci...
If correct, we should expect a slight bullish correction. However, Fed Rate Interest decision will define if we'll have a bearish or bullish trend over the next months. I'm adopting the Elliot Wave Theory for these initial series of ideas, mixing eventually with future Fibonacci retracements that will indicate the entry point of each trade.
Well it appears after several hours a descending triangle has formed and is a good signal that a drop in incoming. We should at this point continue on with a full motive and drop over the next few days.
Running over FX:EURUSD . Neck will broke? let's see. Remember, FX can't be predicted. See yah.
The overall trend of BTC currently looks to be in a bear trend. We could see 5370 and even as low as 5250 in just the next few days. After hitting a new ATH this is a healthy correction that could last for a few months but in the end it will make BTC even stronger.