We have a huge confluence of support right here. We are testing the trendline from the December High. It also is right were the current upward trend from June is along with price resistance/support lines. If you look at the daily chart there is currently at a huge confluence of support and it is likely that we will see an bounce or a reversal of this downward...
So, After that little discussion on my last chart, I decided to look a little harder for clues. What the heck, we may have a bounce zone coming up. Lets see what happens when it hits. You never know!
Looks like we are testing the market and this normally leads to a run up.
VEN is at a crossroads now which will give insight as to whether it will continue its bull run or transition into a sideways or downwards market. These are two intermediate trend lines which ill be looking at to determine where the price action is headed. If it sticks heavily to the trend line and crosses under it and the strong support its found at the 54 levels,...
Waiting for BTCUSD to hit abandoned supply levels to jump into an overall Bull trend.
Gap open above HNS and closes below HNS level (4hour). VV RT: 1.21, RT crossing above RT 1.0 after a down fall RT < 1 CI: 1.84 What is the price action doing in recent 2 candles? Will the gap support provides enough bounce to continue the moment upward only time tells..
I just got stopped out on the recent Bearish engulfing. There's significant rejection of the 20 SMA but I don't like the look of the opposing wick on the current Bullish candle so I will wait for further action before taking any positions.
I want to warn you, guys. All eyes on BTC now. It can be a good short. But it can also break the roof. I think correction is needed for that scenario.
BABA topped out in Oct. at $109.87 and is now nearing that same level. I will be watching to see if it once again pulls back from that level.
Looking at a Long Setup for EUR/USD. 10:00 (UTC) - Expect to get a stronger validation on the move and also the crossing of 1.07300 I have marked X1 & X2 has red zones in my chart, that is where I get very sketchy about the Long and instead look at a possible Short setup. ___________________ Last Week's EUR/USD Analysis was on point, 100+ pips
This one is all about watching the price action. The RSI isn't really telling us anything useful, but we have an interesting structure forming here. Traditionally, I'd be looking for a break of this resistance, but something tells me that if it breaks, it wouldn't be a violent move down. Instead, I'm looking for a bounce candle so I can ride this trade back up...
Doji watch: a doji in the makings after last week's selloff and very oversold readings. A close around these levels here at $753 could yield a bullish reversal doji.