Excellent example to understand the difference impulse and correction...
at the current level,Eurusd was 8 months ago and has been declining slowly since then, the impulse took 2 weeks to win back this decline...
the down trend has been broken up so now we have to watch out for some price action to get a pull back at the broken weekly trend before we can look for...
Bitcoin has been following the trading rules and the team has been able to secure 5000 pips at the moment, will be waiting to see price action at our key level @ $9500 which will also serve as our first target, and if level is broken then we might be expecting forward bulls to take over the market ......
The price is above the local Channel now.
It can rise to $9581.0 after the pullback to the higher border....looks like we have got a nice chart pattern on the smaller time frame, and looking at the chart we have got a broken ending diagonal with a retrenchment currently at the 50% fib ratio,i will definitely be interested in buying bitcoin this week ...this idea...
Btcusd , daily tf, after breaking the daily falling wage, price finally made a nice pull back and is currently retesting the 50% fib ratio where i will be waiting for some confirmation to take a long on Btcusd to take my first target at $9500 and we also have a possibility of it still dropping down to the 61.8% fib .......
This is Gbpaud .... daily chart , price reversed from the top of an ascending channel and it made a double top pattern,
price made a bearish engulfing candle and it has the potential to move lower ..
price already broke out of a minor ascending trend line with a retest on it i will be taking a short on this now while also waiting for the break of the daily...
