Price is currently stuck in a zone. But what's exciting is the big bearish harmonic that has formed from price respecting the monthly SR at 126.053. So is this a signal of the uptick ending or is it just a retracement for the continuation? My suspicions is that this current bullish run is just a large flag formation until price is ready to continue down. But...
Bitcoin will break it's current resistance level if it closes today above our current resistance level at $11,379. Next resistance level thereafter will be $16,947.4. RSI still has room for growth. A lot of buying volume since start of Feb (albeit low) Key: Red: Resistance, Green: Support, Intensity = strength
Validated confluences 1.Trendline broken 2.Support broken resistance validated 3.Strong drop from 2750.17 4.Counter trend Trading 5.Profit margin 1:4 previous trade was too low in the curve, profit margin has increased.
As long as price don't break resistance we can expect possible new bearish wave. If fundamentals that are bullish don't bring us above 1,10 we are expecting our old bearish targets based on fibo levels and support levels. If price menage to change fundamental uptrend we also expect that price will fulfill GAP.
IF we get a gap up into 1.0843 support we will get short and look for a gap fill. This is ONLY if the price doesnt end up opening above the area due to global events this weekend.
Soporte Clave, Linea de tendencia posible compra / Long
If we get up to the 110.10-110.50 area we will hit a short where the RR is greatest at 110.45, looking to play to the next level of resistance
Political tensions between US and Russia and the uncertainty in the Eurozone affected global markets yesterday. Investors were seeking long positions on safe havens such as Gold and the Japanese Yen. Gold was up $17 yesterday, it has now touched the 1.618 Fib level of the December to January 2017 rally.It acted as a nice resistance and I see the metal correcting...
Longing USDCAD with an order at the green zone due to the nice Wolfe Wave setting up. Stoploss and tp are shown on the chart. The confluence for this trade is the ABCD pattern as well as support on the 4hr timeframe. Good Luck!