GBP falling right at the bottom trendline of channel and is at 38% fib retrace level...if there is a bounce, I'm expecting it to stay in the current trend/bullish channel Thanks!
Expecting correction to 61.8% retrace and will wait for confirmation of support before longing. Good luck!
Top 1 - 6425 Top 2 - 6950
EURUSD seems to be headed towards the .618 retrace mark (1.1490). Look for strong support to build there, a potential test and confirmation of support and movement up. Short term - EUR bear Medium term - EUR bull
USDCAD has completed an inverse head and shoulders. Look for new support line to be tested and confirmed at 1.2775. The outlook is bullish for the dollar in the medium and long term.
Look for volume at key resistance and support points for direction. If we break below .5 level, then we may head down to low 33 before pushing back up and creating new support at the .618 level.
I've seen some people calling for a blood bath for BTC/USD and what I can say is the trend is your friend. If history rhymes, then yes, there will be a small dip but it will push to a new ATH before a longer deeper dip to the lower channel. The chart shows this clearly.
If this cup handle pattern complete, expect another rise up for BTC/USD.
It looks like a great bull flag formation - top end $6800 before correction - that's aggressive.
looks like low grade shorts - for how long?
We've yet to break the resistance line but probabilities go up that LTC breaks it every time it bounces down off of it and comes back for another try. With that said, it can very well drop down much further - my next key support line is between 33 and 34, if it breaks that, things could get really ugly. I'm steering clear of this for any longs until a rally is...
The longer it takes to break the ceiling the deeper the fall. There is not enough volume or pop news to reverse the course yet. I'm watching this pair closely.
1) OLD trader long - buy above the white line after a test to confirm the breakout and if you fail to see momentum, cut your loses quickly because you can ALWAYS come back after momentum is confirmed 2) Riskier long (low probability) - buy above the green trend - line (above 50.01) and set limit sells at 58 and then revert to strategy 1 3) BOLD trader long - buy...
So close - yet so far away. If LTC doesn't break the ceiling soon, the drop only gets deeper.