Is this the end of the correction or is this a bull trap? We don't know yet. Nevertheless, it's worth a shot. Bitcoin is showing new strength by breaking 15000$ resistance level with highly increased volume. This is also the bullish confirmation of a symmetric triangle pattern. Depending on future movement this could be a short-term trade or the opportunity to...
I am expecting a breakthrough of the lower line and a continuation of the downtrend. The time for it is optimal as the apex of the triangle is already closing. Maybe a good chance to generate some profits..-
This textbook symmetrical triangle setup caught my eye as FLS was a big negative mover on the Stockcharts Technical Rankings. I've overlaid a ratio to the SPX where you can see a divergence with FLS underperforming, With earnings approaching before the apex of the triangle it is likely to be resolved there. Given this underperformance I am biased to the short side...
I posted a case on the daily taking some liberty with the possibility of a symmetric triangle -- I determine a bullish case due to MACD/RSI/OBV suggesting a positive divergence with respect to price. In this case, I with a descending triangle, I see a channel that is forming in a possible uptrend with significant fib resistances.
No position; but accumulation on the daily as indicated by the positive divergence of price making lower highs and MACD/RSI making higher lows (and in oversold territory). Could be a bullish setup to watch. However, symmetrical triangle breaking below may indicate a continuation of the short term down trend and possibly forming the right shoulder of a (sloppy)...
Euro has great influence on UXY. Several Europe economic indicators have got new higher scores. Recently Euro/USD resists bears attack at 1.3800. Federal Funds Rate is a good indicator to present attraction of USD. At some extent USD is not popular to speculator. Look at this picture, we can see wave five is failed. We can identify wave A easily. Wave A is...