Make sure you wait for the formation of the head and shoulder pattern on the daily time frame and a good bearish confirmation before going short
This is definitely a no brainer set up .its a very straight forward analysis ..All u have to do is to wait for a retracement back to the 38.2 fib level which also align with structure as a retest of double top formation ...wait for good bearish confirmation before short on this baby .
You got to learn how to be a smart investor like Warren Buffet...on this pair we are waiting for a retracement back to the 61.8 level which also align better with structure before going long on this pair .A lot of bullish sentiment from the weekly time frame but we will wait for good bullish confirmation before long.
I did an analysis on this pair and waited for play out ...its started playing out but i was for a red candle close below the resistance but it didn't give me so i went to bed ,woke up saw this .IN trading you have to wait for good signals before placing a trade don't be sentimental or over confident because it can kill you ...Enjoy your trading journey guys
Believe me guys the btc is in its surviving moments..Overall on this pair we bearish cos we identified a double top on the weekly time frame and we can see a lot of impulse and correction in the daily time frame and we see how the bears are actively pushing the prices .On the 4hr time frame the market tested the 61.8 fibonacci level and the market is yet to hit...
To sensitive and sexy but we will be very careful trading this one ..The market is at a key resistance level on the weekly time frames ..And as u all know retest are very important confluences for traders so wait for it and make it satisfies your trading plan before SHORT.
We have been waiting for the green back to loose some steam but its seems it has alot of momentum to keep pushing beyond the technical horizon so we are waiting for some retrace before long on this one ...So keep monitoring price action .
Gold is very sensitive right now ..A lot of fundamentals but we are still waiting for proper retracement before going long ..we are at a resistance in the weekly time frame so we expecting the bears to capitalize on it ..On the 4hr time frame we are expecting the the market to break the 61.8 fib level and then retest it before going short on it because we still...
The third touch is going to make this pair a good investment ...so keep an eye on it
There are a lot areas traders ignore while analyzing there carts and the marked area is one of them ..It is a very sensitive resistance that can send prices down but very unnoticeable .So we will be waiting for good price action to short it .A Double top or a push and exhaustion will be the signal to short it .
This pair is very sensitive and as such we must be very careful.From the weekly time frame down to the 4hours the market has been very bullish but the market is at a support turned resistance ..so we will be waiting for a breakout and then retest before eating this baby up..
Patience and discipline will give you an edge in a tough business like this ...
I have been waiting for this pair since the open of this week to make some mulla out of it ...Like most of u all know patience is the key to success in trading ..So be patient enough to wait for a good confirmation before going short on this pair .for the aggressive ones u can long it before going short.
make sure your stop loss is wide enough
Very simple and straight forward analysis but we have to be very careful . I expect some extension to the trend line above before dropping sharply.The marked area is our monthly 38.2 fib level that we expect the market to extend to because the market is moving in steps ...so we will be waiting for double top or a push and exhaustion before going short ..HAVE A...