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UPDATE 3.0: USDCAD [D] Technical Analysis [BUY] [190122] @4:1 Good evening people… If you have been following my initial trade idea for the USDCAD on the Daily chart Then you will be basking in the joys of the progression of this particular trade. It’s been just over a week since the initial idea was posted and we are currently at a 4:1 profit Backing up my reasons for keeping the Target Profit afar when the trade is placed So, over the last couple days - I have began to manage the trade With stop was moved in to a profit zone @1.255 Additionally, upon price closing above the 1.263 zone Price returned to this zone and formed a Pin-Bar - Although I did set a Buy-Order at the 50% FIB retracement of this Pin, It did not trigger. Therefore, marginally missing out on further profits Either way, I am very happy with the markets upward progression. With this, we should be targeting the Resistance @1.276 before any decision would be made to close out or hold the position. Reaching this Resistance would provide us with around a 5:1 return on this trade. This being over a period of a week or so. Once again - Much love for tuning in …
Long
by fxhole_
2
UPDATE 2.0: USDCAD [D] Technical Analysis [BUY] [190122] Hello People - Just another update... After reaching the highs of the 1.27 Resistance - I think it is about time to move that stop up to a break-even. Currently, price is sitting at a healthy 2:1 profit Yes, over the days trading, price has become slightly bearish, but we have to stay positive on this one. From the Weekly TF, it does look like a correction for the long-term sellers - But, I am not one of those - Hence my Long Position Looking at the updated Daily Chart - You can see the identification of various theories to support this Buy for a further upward progression. Such as; Price has closed on the daily above the 1.262 Furthermore, yesterday closed as a test as new support Also, and after extensive viewing of the Daily Chart - It has been found that there are a number of areas that provide evidence of a Chart Pattern - But, with a difference [B ut, only because this is an update, which is now a free trade] On the Daily, I have found that over the last year Price has retraced to the 50% FIB on a number of occasions and always when the market is in a strong trend Moving on to current Price Action and the Temporary S&R that I have marked out - We can see that the market is currently testing the 38 FIB Personally, I am thinking the market will retract to the 1.258 zone [50 FIB ] and return to pushing north of the chart In this case - Ill be looking for some Price Action in the form of a CS Failing that, and a further bearish progression would permit a review the position and update the post. Thanks for tuning in people - PEACE OUT! ...
Long
by fxhole_
Bitcoin Bottom? Updated with worst case scenario4hr chart adding in what I think is worse scenario. Save some chips or you can’t buy the dip. I still think we reverse here but follow the lines. If breached and retested likely going to the bottom of the next box. Assuming we continue the long term bullish scenario Bitcoin shouldn’t breach these last two added trend lines. If you zoom out. You can see it connects with the impulse low of 2018. The top of this channel connects back to the early days of Bitcoin.
BITSTAMP:BTCUSDLong
by thedude31
Bitcoin Technical Analysis - 9-Jan-2022Bitcoin has completed the Head & Shoulders pattern which we specified about a month ago and retested the major support area (40500 - 41000). Bitcoin is now holding the neckline of the pattern and trading above the major support area. Bitcoin should hold that major area, or we will see more downward price movement toward the next support area (48000 - 48200). For now, Bitcoin trying to retest the local resistance area and its first target is to reach 43200. If Bitcoin can achieve that goal, the next target is 44800 - 45000.
by jaffcoins
1
ETH/USD looking bearishETH/USD: trade update So as we can see the price did break the possible rising wedge that we had on the chart. What we also can see now is that the price did do a retest of that wedge and went down after that. It did another retest of the wedge but still was not able to break the wedge. We can now see that the price still is moving down. I think that we are going to see a drop to at least the 0.382 level of the Fibb and I am waiting for that to happen. Once it does go to that level there are 2 things that can happen. 1) The first thing is that we see a break of that level and then I will be waiting for it to drop a little lower to the zone that is marked as zone of interest. I think that if the 0.382 level is not able to hold than that zone has a higher chance of holding because we saw that it already did hold a few times in the past. 2) The other thing that can happen is that the price touches that zone and reverses to the top side. We do can see that the price did already reverse sometimes on the 0.382 level so it does seem to be forming a support at that level in the short term. In conclusion: So I think that we will see a bigger drop happening before we are able to go back up again. I am now waiting for it to go lower to buy more Ethereum. If you have any questions feel free to send me a message. If you like the idea do not forget to give it a like and feel free so share your idea on this in the comments. Everything you see on my profile is just for educational purposes only.
COINBASE:ETHUSDShort
by MaBaCapital2
CAD/CHF Update!CAD/CHF doing well! After breaking structure on the retest of a huge Wyckoff Accumulation schematic we were planning for price to come down and spike out the liquidity which was resting below the equal lows which has played out perfectly! We have now seen a nice bullish reaction and are looking for more bullishness to continue! I managed to get an entry on a lower time frame break of structure and retest from which the trade is current 6% up with another 14% as a minimum still to go! I will be looking for a correction on the lower time frames for another entry.
by PercentageOverPips
1
ADAUSD Price Movements and UpdateBefore I start, I want to say thank you to the people who sent me kind words during the past week. I haven't had time to reply but I saw a few of them so thank you, it meant a lot. For those of you who didn't know, I had a pretty rough week. I was dealing with a family emergency and today was the first day I wasn't at the hospital all day. If anyone was wondering where I was, that was what happened. I haven't had too much time to dissect the market, but it seems things were following what I said in my update. I told everyone not too get excited until the CME gap was filled for BTC which gapped up last weekend. Today the CME gap finally filled, so as long as we don't gap up again, the market should be in good shape. There are some things that have the possibility to drag the market down and here it is: Covid news (lockdowns, variants, etc). Evergrande payments (largest payment of 2.1B due March 23, 2022). FED bond tapering (updates coming on Dec 14th and 15th). In terms of the market, the bull market should still be considered ongoing until proven otherwise by metrics. I expect many alts to bounce from the last gap close however I have not been able to keep up with anything this week so I cannot tell you which ones look the best. ADA broke out of its descending channel, and tested the previous diagonal resistance as support today. I hope BTC will trade sideways this weekend otherwise we will have another gap to worry about and that won't be fun. If BTC trades sideways, expect ADA to do the same. I believe there will be more upward movement if all goes well with BTC and we will form the basing pattern I have been talking about for a month and a half now. Other than that the market has been rather slow today, most people did not see the pullback coming however, I knew the gap would be filled one way or another. This happens to be the best scenario. If BTC continued to run, we would have a gap at 54k to worry about and its better to worry about it now than if BTC moves to 70K. That is all I have today. I need to follow up on a lot of things going on right now because I have been gone for the entire week. Thanks again everyone!
KRAKEN:ADAUSDLong
by mysticalwalrus
26