SHIB / USDT pair (and many others altcoins) currently forming a falling wedge pattern. With double bullish divergence, it can lead to some sort of bounce in the nearest future.
Targets:
- 3500
- 4150
a. 1W – Candle closed with a bearish sentiment.
b. 1D - Uptrend has been broken, therefore we are looking for a re-test and some short position .
Thoughts:
A lot of news directly influenced the price movement last week. And there is no doubt if #DXY will continue to gain strength this pair is more likely to continue its downtrend.
The alternative scenario...
Hello, everyone!
Kindly ask you to read Related idea first.
UPDATE:
- After facing the resistance this instrument continued its movement within the channel with some false breakout. In my opinion, we might see the further movement in a couple of days.
Good Luck!
Nothing really changed from last week. Euro tried to close above 1M Trendline and got rejected for the 2nd time:
This fact signals that Uptrend is getting weaker and weaker, so we should pay great attention to local Support/Resistance Zones:
It is recommended to open SHORT/LONG positions ONLY from the local zones.
Also, make sure that you've checked my...
Hello, Traders!
With the beginning of the new week, DXY shows some reversal signs. For the past 2 weeks, this index has found solid support above 93.
On a local 4H Timeframe Support and Resistance zones are created, so we need to pay close attention when index is near those levels.
If the breakout occurs, the FIRST target is 94.5 level.
Good Luck!
Good morning, everyone!
The new week is opening with a local correction and it is obvious that the instrument is overbought. But there is no rush to open short positions, as the pair is trading near 1M trendline which is a very strong resistance and a lot of squeezes might happen nowadays:
Look at the 1W timeframe:
EURUSD has a remain a strong...
GBP has strong support between near 1.26595 Level.
- 1W TimeFrame:
As you can see this pair has closed above trendline last week, so we need to see another green bar this week to continue the uptrend!
This pair continues its rally with a bullish 1W closing last week. Also, another support zone was created on the level - 1.138. Play with the trend and trade from local supports + trendlines!
- Local Support!
