Finally had the break above 1.1500. Will price continue upwards? If price pushes lower ill be using an aggressive pattern entry through the bat with targets at the newly formed high Ive also marked quite a large resistance zone, previous support. if price shows me a good reversal signal here i will also look for targets at the new high
I've been watching bitcoin for a some time and have been patiently waiting to start building a position. My reasons for starting to acquire have nothing to do with trading this but for a long term play 10-20 years However i want a clear reversal on the higher time frames before investing any money. $3000 support zone has been an area i have been waiting to see...
UOG looks like a little gem. Fundamentals are very good. Excellent management and lots of exciting prospects including the BIG BOY in JAMAICA! 3d should be out soon. Im invested here but below is a trading idea As far as technical s we've had a nice double bottom, RSi div with a break and close above. Pull back into a 61.8 % retracement and a new higher high,...
BITCOIN IS OVERALL IS BULLISH BUT IF THERE IS A RETRACEMENT I WOULD BE LOOKING AT 2 ENTRY POINTS TO GET LONG. IT HAS JUST COMPLETED AN AB=CD PATTERN, RSI WENT OVER SOLD AND THERE IS RSI DIVERGENCE SO WE MAY SEE SOME SORT OF RETERACEMENT FROM THESE NEW HIGHS MY FIRST POSSIBILITY WOULD BE AT 5000, WHICH IS A FIB 38.2 RETRACEMENT OF THE LAST MAJOR MOVE AND INTO A...
nice quick 17 pips profit hitting the bottom cypher patter, not quite reaching the gartley. You can see all 3 patterns forming in my last post 15 minutes ago
On the 1 minute chart which i dont normally trade. We have a cypher and gartley lining up nicely at the same potential reversal zone for a long trade (blue and red ) or a gartley lining up in the top for a short trade (green) We have the market bracketed so just need to watch price action when it approaches either of our potential reversal zones.
The reason i have stated a strong bearish gartley is the conflunce of the 0.786 retracement, 1.272 extension and the inverted 1.272 extension. This is formed a nice tight potential reversal zone which again has tight confluence with a completed AB=CD pattern I have removed the XABCD and fibs for a clearer chart. I would set stops above structure high on the...
I dont normally look out as far as weekly charts let alone monthly but its Interesting to see the euro/Dollar bouncing around the 0.618 retracement level. Will we see some upward movement from here?
As you see from my last post on usd/jpy the price tested every line we had marked in the PRZ (potential reversal zone) of our gartley pattern and then went down hitting our target 1 and target 2. This has led us nicely into a potential bat pattern. The C leg retracement of A to B is slightly deeper than i would of liked as generally i would consider 0.886 as a...
There is a possible harmonic Gartley pattern forming. The multi coloured lines i have identified are a possible (PRZ) potential reversal zone. The pink line is a 1.272 fib extension of the A to B leg. This lines up nicely with the completion of the AB=CD completion represented by the blue arrows. The green line is a 1.272 inverted fib extension of the C to B leg....
0.618 RET OF XA LEG, C, 0.786 RET OF AB LEG. PROJECTED AB=CD HARMONIC MOVE, PREVIOUS STRUCTURE BELOW (X) ON CHART LINES UP NICELY WITH A 1.272 EXT OF BC AND 0.786 RET OF XA POSSIBLE TARGETS 1 & 2 WITH A POSSIBLE RISK/REWARD (ILLUSTRATIVE PURPOSES AS MAY CHANGE)