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ORBEX: Correction Could Take Prices Lower Before Bullish "Three"The correction seeing on USDJPY could let prices fall a tad lower, providing a better structure for minor A. This should be followed by a "three" correction, where minor B is going to offer some buying opportunities in the short-term before sliding lower towards the golden Fibonacci retracement level of 106.67. Better remain patient for minor B to complete! Trade safe Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice
Long
by Orbex
LINK to $3.50 end of Jan 2020 @ top of ascending channel +LINK (ChainLink) long term outlook still looks quite bullish, riding well over the multi-year support and still holding a much higher and near parallel, bullish ascending channel. We are currently sitting at bottom of channel, minimizing entry risk but entry should be leashed with a short Trailing Stop Loss. Top of channel is $3.52 or so around the end of January 2020, a month from this write up. Because we may also be seeing a wedge form here, we could see a really nice breakout that could occur earlier in January where as that $3.52 would already be support by end of January (or break down to $1.50 historical support). There is downside potential where as the mid-term trends could reverse (though currently no indication of such), likely we would be caught by the the historical horizontal/logical support @ $1.50 or worst case our multi-year long-term trend-line below would catch us. Right now a downtrend seems really improbable though hinged on the health of the global market. This ascending channel could actually play out for a couple of years before forcing LINK to choose between maintaining the channel and breaking its ATH. I am pro-link long as well as bullish long term and for the next month or so for a channel swing trade, holding both in long-term and short-term positions and accruing more now. This is not investment advice, just some of my market observations published. DYOR. s
BINANCE:LINKUSDLong
by EncryptShawn
3
Gold/USD DailyGOLD/USD I think Gold change in the next week by fundamental but for now, it is the best option. It all comes down to how traders respond to the retracement zone at $1512.40 to $1526.40. Holding inside the zone will indicate a neutral to upside bias. Overtaking and sustaining a rally over the upper or Fibonacci level at $1526.40 will signal the buying is getting stronger, while a sustained move under the lower or 50% level at $1512.40 will indicate the presence of sellers. This could trigger the start of a steep break.
OANDA:XAUUSD
by Xfire
BTC/USD Bullish Short Term & Bearish Mid term Outlook...Hi guys, I have plotted a fib retracement from around the 17th November (high) to 18th December (low) and you can clearly see some vital rejections, support levels and wickfishing i.e. bull traps or bear traps - with the long wicks... with daily candle closures failing to close above or below the fib levels. Currently, BTC on the daily is looking like it has broken the .618 level @ 7273.08 USD and is making its way towards the next fib level at .5 @ 7533 USD, which is also at a key resistance and support level (long term key levels which are highlighted by yellow shaded boxes), so this is one confluence for a short term bullish outlook. The next confluence is that we have not even seen a single retest of the 8000 USD region since we have fallen below and in the long term... every time we have gone below or above this region we have always retested it, therefore it is a key level. This brings us to our next confluence which is the completion of the head and shoulders at this region - with the left shoulder starting from 25TH NOV, which lines up exactly with the FIB RETRACEMENT .0.236 @ 8116 USD Next confluence is the higher highs and higher lows shown by the white trendline drawn across 25 Nov to 3rd Jan... Although we broke this trendline 16th-18th December price has come back up strongly to retest and maintain this trendline, and the opening of this daily looks like a strong and solid bounce off the trendline. After this short term region of around 8100-7700 USD is met... price should bounce off the bearish channel drawn on the long term outlook with the two red trendlines and we could be seeing levels as low around 6000-4000 USD before price will continue to surge again and hopefully act as the next starting point for the next 2020 bull run which could be initiated by the long term green trendline bounce... Thanks
COINBASE:BTCUSDLong
by Thep1pc4tch3r
1
AUDNZD Long Trade SetupHello Traders It looks like we have a complete 5-wave impulse and now, it should make some upward structures. Because of the unclarity of the higher timeframes, I can't say if it will make a pretty big up impulse or correction for more downside, but my main forecast is a correction. I placed a pending order above the potential reversal impulse, but the SL is too big for this chart. That's why I'm also waiting for a bigger correction and a lower degree reversal pattern to find a better entry. For more details and the daily updates please watch my daily analysis videos on Youtube. Trade with care. Bulent
Long
by WaveAnalysis