BTCUSD Weather Forecast; a Bearish rainy Memorial Day Weekend On the 4 hr chart, BTC has printed a Bear Flag or (ascending bearish wedge ), and also about to run into the converging 50MA & 200MA. It is testing the bottom of our 2.5 month long, ascending recovery channel, the RSI is showing us Bearish Divergence since about April 30th. We could easily retest 8200 and step down to 7700 & 7300.
50ma
USDJPY - Bullish Flag - Trend-Continuation IdeaHi Traders!
The market is in a Midterm-Uptrend.
As you can see we here have some factors giving Support to the price.
But before mentioning them, let's see where the market is at the moment:
The lowest price the market reached over the last month was the Level 106.000.
Then it started to rally.
It made a straight Upmovement towards the Resistance at 107.800.
After that it retraced.
Using the Fibonacci Retracement we found out, that price reached the 50.0% Retracement Level.
Then, another upmovement occured.
This time it even made a higher high!
The Turning-Point was the important 108.000 Level.
Now it is still in a Correction Stage.
The shape of this Correction is the most intresting part:
A Parallel Channel = a Bullish Flag.
After connecting all the lows with each other, you can see an ascending Trendline.
It is now touching the Price.
In addtion the 50MA is giving Support too.
Because of these confirmation, we recommend to trade the bullish Breakout of the Parallel Channel.
Thanks and successful Trading :)!
HMMM..here is something for a few cents up to 50 EMA it might break but don't think it hold to form new support but these crazy time who knows volume looked descent today but ended in a tug of war Cross... worth a look in the am
here we go again im game Like that it held 50 At close if breaks upper resistance got a long way to 200 MA. into earning with ACB huge Move hoping for same I'm back in ././$
oil will fall, it's a matter of timeHello everyone, so on my chart, you can now see a repeat of the price movement, namely starting from 2012 (as indicated on the chart) and a possible intersection of the two-day moving average or, as usual, the appearance of the death cross
EURUSD LONGWere looking at a change in direction for this pair.
We have seen a break of the descending trendline after a lot of bearish movement. Forming a new higher high, likely to be a small pullback/retest before making further upside movement. A good entry would be in the golden pocket area/rejection of the 50MA.
GBPAUD SHORTMy previous analysis on this pair was for a short trade. Unfortunately I missed the trade, however was pleased to see my analysis was correct.
I still see further downside potential on GA. I am now hoping for a pullback to the trendline which lines up with the resistance area and in the 50MA region.
If we get this, I am looking for a longer term trade.
EURCAD potential BUYDaily - Expecting a pullback to the most recent area of support, which also lines up with the 50ema. We have seen several rejections of the descending trendline and the most recent resistance area.
4HR - If we drop down to the 4hr we can see that price broke the ascending trendline, if we get the pull back expected, and a retest of the descending trendline, I would be looking to go long on this.