Not really much to explain, 5 touches screams elliott wave. You decide.
GBPUSD has been following a good diagonal uptrend that could be wearing out since price had recently been met with a strong resistance. Price had been tumbling down with profitable fluctuations based off of strong fundamentals that have been relevant recently such as Brexit, PMI numbers, and even more recently Donald Trump's covid-19 illness. I wouldn't be...
Confluences tells me that price should be heading down unless it decides to break the monthly channel, which was touched when gold reached the price of 2075. I think "fake-outs" or a retest could be possible to the upside, having price reach 2000 and could wick as high as 2075. Though, of two accounts of gold reaching its channel's resistance, it only touched...
You haven't probably seen charting like this before, but I trust technical analysis... even beyond the fluctuating scopes of fundamental analysis unless the strength of that information is affects the numbers behind the scenes.
If this ascending triangle formation holds up, I don"t see why there wouldn't be more progression to the upside. Ascending triangles, Head and shoulders, smaller timeframe pennants... this pair has definitely been interesting lately.
Bitcoin is consolidating in channels that are closing in more and more back to $12100.
You'll never find an ascending triangle pattern rejection/breach with a support retest as clear as this!
Bitcoin just broke the ascending triangle on the 1 hour chart, planning on riding it a little longer. I tend to follow the trail instead of going against it. The charts don't always appreciate contrarians.
Not short-term, this is a long-term position, so try not to enter BTCUSD at the moment of reading this. You always want to make sure you're catching a major pullback, so that you can ride the gains for as long as possible. These ascending triangles are presenting themselves on higher and lower timeframes, including my most used daily, 4h, and 1h. The ascending...
EURUSD has been excelling at maintaining more than a steady strength. U.S economics aren't looking great right now, and relying on fundamentals only would possibly hinder a short-term trader. Although, this would be good news to go long, and it is, it is necessary to lookout for a pullback before entering any new long positions. I would encourage shorting on...
These are great examples off ascending and descending triangles, and it shows textbook results of how data flows when these patterns finish.
Charts are ever-changing and their patterns are sometimes well-respected by historical peaks and valleys, support and resistances, and so on. Zones are often referenced for those types of occasions like supply and demand zones. For the day-traders and swing traders out there, charts often require smaller time-frame analysis to capture patterns that form within a...
Xrp has introduced itself within this range in the recent past, and it is now being retested. Whether the highlighted yellow zone will be broken, I am bullish on that idea. However, for this particular action, I am confident for any swing traders that price will meet profit point.