Current Market Position:
The long-term charts indicate that the potential for a continued downtrend in Bitcoin remains strong. This observation is based on the overall market structure and recent price movements.
Fibonacci Retracement and Resistance:
The price of Bitcoin is retracing to a significant Fibonacci zone, which is a common area for potential...
The USDCAD pair, as seen on the monthly chart, appears to be in an accumulation phase, indicating a period of consolidation before a potential trend development. This phase is critical for understanding the future direction of the pair.
Key Observations:
Accumulation Phase: The current accumulation phase on the monthly chart suggests that market participants...
Amazon is getting to buy territory, this is a mean reversion trade.
Good buy now with intention of selling at 120?
I expect the price to drop a bit more but bounce back the blue line as is extremely strong support, and the price should make it to the middle line of the band, that is where profit-taking should take place.
Looking for a long trade counter trend trade, as we can see the fork is pointing down, however, we just saw a rejection after breaking the median line and a bullish engulfing candle closed above the median line, is expected the price to move in that direction at least until the red line 0.6180 line above. that is my target profit. reason is we seen below what...
We reached a breaking point, if we can close above the blue line, and with a bullish confirmation we can expect a new bull market to be initiated, all indicators that I have looked into all of them have plenty of room to let the price run-up to break such strong resistance.
If in after the rally I would book profits,
The EUR/USD currency pair, as observed on the monthly chart, has shown significant trading behavior that suggests a potential bullish trend in the coming period. A key observation is the retracement of the pair to a Fibonacci level, which coincides with a previously known supply area. This technical confluence enhances the significance of the current price...
So what to expect this week:
1- we can see and identify a contraction point in the market and 2 expansion legs price now reached fair value.
2-If price closes above balance line and retest it with above average Volume we could expect a retest and continuation to the upside.
3- if we close tomorrow below value we can expect the prices to fall at least for a few...
I can see a leg 5 forming, rejection of the 61% fib long rejection on daily candle close above 61.8 strong buying pressure. good confluence. my entry is at 186.500 with a stop at SL-184.200
1st TP 191.500.
We are returning to the value area now, if the price doesn't close below the 0.618 Fibonacci we can expect another rally to the upside, a tricky moment for DIXXY.
The danger is to the upside as the chart stands currently.
Weekly Updates of the instrument could mean a reversal to the downside, what do we expect to see as confirmation of such an event?
Expectations:
I expect to see the price touch the upper parallel line and close the week on its lows, with a decent gap between the price closing and the upper parallel that is a sign of weakness on the chart.
Confirmation:
We can...
Important Week ahead of us, all indications and indicators are showing strong momentum, so is expected to see prices break above this resistance?
If that scenario is to play out I want to see and decisive bullish candle breaks the resistance and a retracement to the resistance turned into support and a bullish engulfing candle for good measure, and that will...
Weekly Update, Silver Futures .
The pattern that I expect to see in the upcoming weeks now is also important to know that if any weekly close is above the fork this might be a catalyst for the prices to make new highs.
I can't see it yet playing out but worth bearing in mind.
We can expect prices to rise a bit more to reach the upper parallel of the fork and potentially break in a bit, but if the weekly close is inside the fork I would expect the prices to fall, as soon as those events play out.
In the important week ahead, after the break of the medium line, I can expect the prices to retest it and move upwards with rejection to the...
Looking at the technicals what can we see?
We can see a deceleration in the selling pressure, how do I come to that conclusion?
Technical Principles
- MACD Divergence is still in play, as lower prices and MACD is going in the opposite direction.
- We can see the last 2 impressions in the Histogram are higher than the previous impression, this is another...
