tommyf1001

tommyf1001 Updated 

Hello traders, Thanks for taking the time to read my analysis, please give a thumbs up if you like my idea! On the chart it looks like we have a rising wedge on the 4hr time frame. The price just wicked up to the 200MA (in orange) which also happens to be at the top of the wedge trend line. Looking at the bottom of the chart we can clearly see that volume has...

tommyf1001 Updated 

Hi guys, Thanks for taking the time to read this analysis. Taking a look at the Gold chart, we can see a few signs of potential downside to come over the next couple of weeks. On the right hand side we have the weekly view of this chart and you can see the price has reached resistance at 2 major trend lines. The first major trend line is the descending trend...

tommyf1001 Updated 

Hi all, Thanks for taking the time to read this analysis. My last update I discussed the possibility for a breakout based on what the indicators were telling us. However, the bulls were not strong enough to break the descending trend line (dotted line) as the price was getting tightly wedged between that resistance and the 89EMA support (in green). As soon as this...

tommyf1001

Hi folks, Since my last update we dropped a just a little bit more and settled right back into the S1 support range (see previous idea). That small drop has now given us some reversal signals on the 4-hour time frame, and they are also showing on the 6hr time frame as well. - The RSI is showing a big bullish divergence as price has made lower low while RSI...

tommyf1001 Updated 

Hey guys, thanks for taking the time to read this analysis. I know it has been awhile since my last Bitcoin update and that’s because the past couple months of tight consolidation has made this asset very difficult to trade and I do not like to gamble on guessing where the price will go. However, I am now starting to see some underlying signs emerging on higher...

tommyf1001 Updated 

Hey guys, wanted to share this with you. GBPJPY is approaching a few resistances that could lead to a drop soon. On the chart you can see there is a major trend line in red that the price is getting very close to. This trend line is drawn from around 195.200 (August 2015) down to about 156.600 (February 2018) and onwards. Price has been unable to break past...

tommyf1001

Hi folks, I’m sorry I’ve been away from tradingview for so long now, I’ve been very busy and unable to find time to post ideas lately. Anyways, I have a nice long-term setup that could potentially lead to some bullish upside. On the chart you can see there is a Butterfly Advanced Formation on the weekly view. There are bullish divergences on the RSI and CCI,...

tommyf1001 Updated 

Hi everyone! Just wanted to give you a quick update on what's going on with Bitcoin. I meant to post this yesterday but never got the chance to get on my computer. Anyways, what I've been noticing over the last week are some big bullish divergences showing up. Take a look at the RSI, CMF, CCI, and MACD. All of them are showing bullish divergences on the 4 hour...

tommyf1001 Updated 

Hey guys just wanted to give a quick update on Bitcoin. On my last idea I was looking for a short around the 6.8/6.9k region if the opportunity presented itself. We never got the reversal signal and instead the bulls were strong enough to break this heavy resistance zone. This bullish impulse has stalled as price found resistance the 0.5 fib level, the blue...

tommyf1001 Updated 

Hello everyone, thanks for taking the time to read this analysis and if at any point you find it useful please show some support and give it a thumbs up! The chart is pretty self-explanatory, however I’ll go through a couple things. While we do have some bullish signals emerging on higher time frames (divergences, RSI exhaustion, strong support level around...

tommyf1001 Updated 

After many days of falling with no retrace, Bitcoin is due for a relief rally that will most likely be another short-term rally. On the daily view we can see the price structure on this drop is mirroring the left side nearly perfectly. When the price briefly touched the 6,100 level, it matched the bottom price point on the left side before the big rally began. If...

tommyf1001 Updated 

Hey guys just wanted to give a quick update on Bitcoin’s current situation. Unfortunately the bat harmonic in my last update never gave us any reversal signals in the PRZ and failed to complete the pattern. Now Bitcoin is at a decision point with strong support just below current price around the 6,700 range and strong resistance above around the 7.4k-7.5k price...

tommyf1001 Updated 

Bitcoin looks to be in the process of setting up a bullish bat harmonic pattern. Please be aware this pattern has not completed yet and you should wait for reversal signals in the Potential Reversal Zone (PRZ) before entering this trade. Looking at the chart, we can see the PRZ is between 7,300 and 7,425 and this zone has been highlighted in red on the chart The...

tommyf1001 Updated 

After a huge run today, Bitcoin is going to need to cool off a big and I am expecting a slight retrace. Right now the price is at a level of the highest trading volume since October 2017, and the only other levels with higher trading volume are at the 4.2k and 2.6k levels. The price also just hit the 0.618 Fib retrace from 5.7k up to 10k. Looking at the weekly...

tommyf1001 Updated 

There is a bearish Gartley pattern that has just completed on EURJPY. The PRZ is at a confluence of the 78.6% retrace of XA, the AB=CD movement level, and 141.4% BC Inversion level. This is also an area of high resistance as noted by the volume profile tool (Point of control shown as red line going across screen). Additionally, the PRZ is between the 0.5 and...

tommyf1001 Updated 

Bitcoin is setting up a perfect bat harmonic pattern at an area of high resistance. After breaking the 6,800, BTC is now touching the bottom of an important trend line (in black) that is drawn along all reaction lows from 5.4k (Nov ’17) to 6k (Feb ’18) to the lows in early April. This trend line was broken in early June and this whole move up is a re-test of...

tommyf1001 Updated 

Hi friends, there looks to be a potential Butterfly advanced formation setting up on USDJPY. We just witnessed a very strong bullish move up towards the major trend line in blue. This major trend line is drawn on all reaction highs from June/November 2015, December 2016, November 2017, to present. This trend line was just broken today, but I believe this will...

tommyf1001 Updated 

For the past month Bitcoin has been finding resistance at the $6,800 region, and once again we are seeing a slowing of momentum at this price level. In my last idea I discussed how important it is for the bulls to break this resistance if they want this rally to succeed. Here is why price could struggle to move higher: - This price level is right at an area of ...