USDCHFUSDCHF ready to fall once it reaches the above resistance zone to respect the daily trend
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Trendline-breakout
EURUSD to break or retest trendlineA break would signal longs upon a retest. Respecting would signal shorts.
ADABTC Decision TimeWe've got a trendline that has contained upward movements converging with a lower trendline that has stopped downward moves. One or both of these trendlines will break, should give us more idea of price direction.
GBP/USD Expecting a lot of downsideGBP/USD just broke a very key trendline. Closing below it on the Daily Timeframe is a good indication that more downside can be expected. I would like to see a retest of the Trendline before I enter a sell trade, just so I have confirmation.
2nd 1day candle closes above wedge final cnfirmation of breakoutGood to see on the 1 day chart that we have closed a second 1 day candle above the wedge giving us final confirmation of the breakout. What we are looking at here though is the 4 hour chart not the one day. That confirmation on the one day just solidifies that breakout and greatly increases our probability of hitting the $10335 price target. As of now, at the same time the 1 day candle closed above the wedge(and the green descending trendline), the 4 hour candle has closed a candle back above the ever important 50 MA(buy/sell line). As I've stated in the past, we want 3-5 consecutive 4 hour candle closes above the buy sell line before we can confidently say we are back in a buyers market...but I'm confident we will get that in the coming days. I also find it funny so far that the angle of the dotted purple line from the breakout is naturally creating a bottom trendline on the price action almsot as if the candles are using the dotted purple line as a stairway up to the target price of $10335. The angle is the exact angle of the back of the descending wedge we just broke out of, so it will be interesting to see whether or not it continues to follow that symmetry. Sacred geometry amazes me on a regular basis., I would not be surprised to see the price contionue to follow that angle for awhile. Lastly one thing to nnote the recent 1 day candle closed as a red maribozu candle which isn't really indicitve of a reversal sao I anticipate the bull train continuing...we may consolidate a bit for a few days and possibly even form a bull flag on the day chart, or perhaps one on the 4 hr or both...we will have to wait and see.
BTCUSD Is this the beakout that we are waiting for?BTCUSD Is this the beakout that we are waiting for?
CTR/BTC - Recreating previous breakout?This is my first video upload, so apologies for any quality issues.
I've just come across this CTR/BTC trend/recreation that is quite interesting, and I thought I'd share it all with you.
The video should explain everything, and I'll provide updates as things progress.
Note: I'm definitely NOT suggesting another 800% price rise. Anyone who does that should be locked up because those kind of rises are driven by anything but logic or predictable behaviour.
Cheers and good luck,
RJR
LINK/BTC - Channel Break-Out - BullishStrong bullish activity continues for this low market-cap coin.
A break from the upward trend has occurred with daily candle closing above the resistance.
I can see this coin reaching 10.5k sats easily and possibly beyond.
I've been watching LINK since October & it has been relatively quiet however it has been performing extremely well, following trend with low resistance and great support.
It is really a great project @ rank 82 on CMC with strong fundamentals, lots of room to grow and explode.
GA Short Term Sell Longer Term UpsidePrevious Trendlines have been broken and now provide extra support for a floor. I believe the new breaks combined with the previous resistance levels will be the support for the bounce. There is a 50-80 pip short that should be happening before we upside more. If the bulls are really in charge we wont even have the downside retrace and we'll go straight up, but I'm planning to try and capitalize on the short with a tight stop loss then as we approach the support areas of the broken trend line I'll be looking to go long.
MGR.ASX Share Prices have broken out from resistance levelMGR.ASX Share prices could be heading up to test 2.35 the last high after breaking out from 2.14 resistance price point in yesterdays trading session. My estimate price target is 2.35
UsdCad Top Down Analysis!UsdCad's weekly chart shows a breakout. The price is currently near a resistance level which can fuel the price to drop on the outer resistance trendline (Refer to AstroFx book). If the price drops below the resistance zone a short trade can be traded. The stop loss would be placed above the resistance zone.
UsdCad's 4H chart shows a third touch in the trendline which could indicate a bullish movement, however, as clarified on the daily I'm looking for bearish opportunities after a small reversal.
UsdCad's 1H chart shows a bullish butterfly formation. This formation has only one imperfect leg (0.907). I am late for the party in this trading opportunity. In any case, as in the previous timeframes, I would prefer a bearish trade after the pattern is complete.
The reason why I'm ignoring all this short term bullish opportunities is because I don't go against the trend (one of my rules). Perhaps I can work on reversals too but I am not good at them for the moment, and I don't see a need for that in the near future. Don't catch a falling knife! Few pairs, few tools, mastery, entry, management, pips.
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Follow for updates on this pair as it develops throughout the week.
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Kind Regards
EurJpy 1H - Trendline Broken, Head and Shoulders, Fib levs EurJpy 1H chart shows a broken resistance trendline. This trendline is broken and now it is being retested. The sell stop has been placed below the previous low. In case the price hits that level till 23:00 (next 3-4 bars) the sell stop will take effect. The MA has crossed which indicates a bearish movement. The EXCELLENT confluence, which is quite surprising is that the fib extension where the take profit is, is the exact take profit a head and shoulder pattern would have from the top of its head to the neckline. The stop loss would take effect if the .61 resistance retracement is surpassed by a few pips.
Furthermore, this could be the start for a next touch on the resistance trendline (yes it can go down that much, however, I'm not trading that now. It's a short term 1H trade atm)
Take care, trade your trading system! This is just a suggestion!
Ask questions & Give comments!!
Bests
BTCUSD: Buy the breakoutHey traders,
The bitcoin has been moving sideways for the last few weeks, forming a bit if a triangle shaped thing. My guess is that as soon as we break the light blue trendline to the upside, we will go to the moon and beyond on the bitcoin.
EURUSD Watch for bounce off the potential resistance areaThe wedge has been broken and now seems to be getting a re-test. Watch closely for a bearish bounce. Fib levels also align well here for added confluence. Wait for confirmation close to sell. Happy trading
NZDCHF Sell Idea UpdateUpdate for the Sell Idea that we are following from last week.
On the H4 chart we will have a second false break if the current candle closes 0.7067.
A break below the most recent trendline and the most recent low is what I am looking for on the H1 chart.
Look for a small correction after the breakout and then enter to increase the risk reward ratio.
Final Target 0.6920.
Protection above last high which is currently at 0.7103 or so.
Invalidation – break above 0.7103 before a triggered would invalidate this setup and we will look for entries higher.
NZDUSD Sell Idea FormingThere is a H4 chart bullish cycle ending. We are looking for sells.
H1 chart lower lows created already.
We want to go short with the breakout of the most recent m15 up trend line.
Protection above 0.7220
Target 1 - Risk - Reward ratio of 1:2
Target 2 - 0.7070.
Target 3 - 0.7020.
AUDCAD SHORT term (trendline breakout+reversal pattern)AUDCAD SHORT term (trendline breakout+reversal pattern)
USDSGD LONG term (major trendline breakout+reversal pattern+fib)USDSGD LONG term (major trendline breakout+reversal pattern+ 61.8% fib rejection)
EURAUD Sell IdeaD1 cycles seems to be completing itself. On the H4 chart we saw divergence followed by convergence. Now final phase is to wait for a correction. Ideally this correction will come in the form of double wave up. Then with the break of the of the most recent up trend line we can short.
Target 1 – 1:2 Risk:reward ratio
Target 2 – 1.4620
Stop loss – above the last high before the breakout of the trend line.
AUDCAD LONG term (M.A crossover + trendline breakout expected)(M.A crossover + trendline breakout expected)
LONG term (wait good breakout(STRIKE zone)
