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GBPUSD, 8hr tf, double bottom pattern mirrorring XAUUSDHello my friends, Another trade ideas for today is GBPUSD pair. As you can see GBPUSD chart looks exactly like XAUUSD. XAUUSD has rallied for 750 pips in the last 2 weeks after hitting 1680 area twice. I still think we could see further rally in XAUSD as the measured objective of XAUUSD pattern is around 1830. In my opinion, we could see the same movement in GBPUSD and it is very worth to try buying it as well. We might see double bottom at GBPUSD as well after price touching 1.3670 area for the second time. The measured objective of GBPUSD double bottom should be at 1.4160-70 area Buy GBPUSD 1.3720 Stop loss 1.3650 Take profit 1 at 1.3990 (3.8R) Take profit 2 at 1.4160 (6.2R) Use only 1-2% risk Good luck
Long
by HayatoDragonFX
2
MXC in a channel, about to break out?Hi. In this chart I've plotted one resistance line and one support line, both quite short term. With these two I've also plotted two more long term zones: One wide diagonal support zone that has played out since April 2020. Its very strong and if broken could be a strong indicator of a trend turn. One tall resistance zone that while not very strong could still indicate roughly the height that the price could go if it goes sharply bullish in the near future. With this I've also included an MA 56 to reinforce the strength of the support zone as the MA has danced along it for a long time. I've also included a MACD to assist in any predictions regarding impending price movement. To me it indicates an impending short term bull run, as it could be about to cross the 0 line. In conclusion: MXC is still in a strong bull run and has been for a year. There are no signs that a trend reversal is impending and with the recent price spikes I would conclude that the price wants to rise above the resistance zone plotted and MXC could be a solid investment for long term investors with perhaps the only downside being a longer ROI. For short term investors the impending resistance zone break could be a nice spike to go long on, as plotted with price points. Thank you. Please, if you have any thoughts or comments do leave them below and I would gladly discuss or adjust my interpretations and methods with you. This does not constitute financial advice. Any projected prices, even if explicitly stated, are made with intent to discuss the symbol and potential interpretations. Any trades shown or mentioned are examples and neither recommendations or mandates.
AMEX:MXCLong
by Kabeldon
BTCUSD - the hysterical wave.Observing how Bitcoin has been moving for the last few months, I regret I wasn't a bit more careful with it and see that it's all an Elliott Wave , so, how does that work? In this pattern, Waves 1, 3, 5 are motive, meaning they go along with the overall trend, while Waves 2 and 4 are corrective. Here is a short description of what happens during each wave. Wave 1 Bitcoin makes its initial move upwards. This is usually caused by a relatively small number of people that all of the sudden (for a variety of reasons, real or imagined) feel that the price of BTC is cheap so it’s a perfect time to buy. This causes the price to rise. Wave 2 At this point, enough people who were in the original wave consider BTC overvalued and take profits. This causes BTC to go down. However, BTC will not make it to its previous lows before BTC is considered a bargain again. Wave 3 This is usually the longest and strongest wave. BTC has caught the attention of the mass public. More people find out about BTC and want to buy it. This causes BTC's price to go higher and higher. This wave usually exceeds the high created at the end of wave 1. Wave 4 Traders take profits because BTC is considered expensive again. This wave tends to be weak because there are usually more people that are still bullish on BTC and are waiting to “buy on the dips.” Wave 5 This is the point that most people get on BTC and is most driven by hysteria. Traders and investors start coming up with ridiculous reasons to buy bitcoin and try to choke you when you disagree with them. This is when it becomes the most overpriced.
COINBASE:BTCUSDLong
by BullishOmar
4
BTCUSD - the hysterical wave.Observing how Bitcoin has been moving for the last few months, I regret I wasn't a bit more careful with it and see that it's all an Elliott Wave, so, how does that work? In this pattern, Waves 1, 3, 5 are motive, meaning they go along with the overall trend, while Waves 2 and 4 are corrective. Here is a short description of what happens during each wave. Wave 1 Bitcoin makes its initial move upwards. This is usually caused by a relatively small number of people that all of the sudden (for a variety of reasons, real or imagined) feel that the price of BTC is cheap so it’s a perfect time to buy. This causes the price to rise. Wave 2 At this point, enough people who were in the original wave consider BTC overvalued and take profits. This causes BTC to go down. However, BTC will not make it to its previous lows before BTC is considered a bargain again. Wave 3 This is usually the longest and strongest wave. BTC has caught the attention of the mass public. More people find out about BTC and want to buy it. This causes BTC's price to go higher and higher. This wave usually exceeds the high created at the end of wave 1. Wave 4 Traders take profits because BTC is considered expensive again. This wave tends to be weak because there are usually more people that are still bullish on BTC and are waiting to “buy on the dips.” Wave 5 This is the point that most people get on BTC and is most driven by hysteria. Traders and investors start coming up with ridiculous reasons to buy bitcoin and try to choke you when you disagree with them. This is when it becomes the most overpriced.
COINBASE:BTCUSDLong
by BullishOmar
AUDUSD - long move (shorter term)Quick and simple long move here up into the zone. A lot of other reasons for the move, including retail sentiment and overall COT bias. Shorter timeframe than we usually trade these moves. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Long
by Mayfair_Ventures
2
USDCHF is on the phone with the bears.The Dollar started rising against the Franc and it just started a new trend, because it's brand new and it's still creating it's support and resistence lines we have a great opportunity to trade those level zones. As we can see from our chart, the Dollar is about to hit an important level, tested many times in the past which makes it a strong one , and price action tells us that it should retrace back to around 0.90500. Stay tuned for more Ideas on Forex and Crypto's from an Insider.
Short
by BullishOmar
USDCHF is on the phone with the bears. The Dollar started rising against the Franc and it just started a new trend, because it's brand new and it's still creating it's support and resistence lines we have a great opportunity to trade those level zones. As we can see from our chart, the Dollar is about to hit an important level, tested many times in the past which makes it a strong one , and price action tells us that it should retrace back to around 0.90500. Stay tuned for more Ideas on Forex and Crypto's from an Insider.
Short
by BullishOmar
BTCUSD, IT'S NOT THAT COMPLICATED!!!Watching all the BTC ideas on tradingview I didn't know whether I wanted to cry or laugh. Bitcoin and cryptocurrencies in general are relatively new to the trading world compared to other instruments and there's very little fundamentals on them, so, technically speaking Bitcoin is in an UPTREND! Simple as that! It's not going to 0 neither to a million in a months time! The fundamental analysis we can make on Bitcoin is the Hype behind it and the Darkweb, there's millions of bitcoin transactions taking place on a daily basis whether it's for legal or illegal purposes, it's there, and there's more and more people coming in the market everyday, that shows high demand and why Bitcoin will only retrace as musch as the technical guys want. Technically speaking Bitcoin will most likely form another triangle or a different pattern testing the 42000 level one or a couple more times before it will reach new hights, and in my opinion I see buying bitcoin at around 43000 as the best option and that it will never go lower than that. Stay tuned for more Ideas on Forex and Crypto's from an Insider.
COINBASE:BTCUSDLong
by BullishOmar
10
USDCHF, new trend on the horizon.The Dollar started rising against the Franc and it just started a new trend, because it's brand new and it's still creating it's support and resistence lines we have a great opportunity to trade those level zones. As we can see from our chart, the Dollar just hit a very important level, tested many times in the past which makes it a strong one, and price action tells us that it should retrace back to around 0.90000. Stay tuned for more Ideas on Forex and Crypto's from an Insider.
Short
by BullishOmar
1