Profit_Through_Patience

Profit_Through_Patience

Updated 

We have seen yet another failed rally on Bitcoin and many people are thinking that this is the prelude to a doom scenario where it will go to 5000 or even lower. Despite that failed rally, I do not believe in the predicted drop, I do not participate in the panic selling. As a matter of fact, I do think we are actually setting up for a nice rally. Do you think I...

Profit_Through_Patience

Updated 

BTC had a nice run up in the last 5 weeks, but that might be brought to a halt around these levels. We can clearly see that we are at a weekly support/resistance level that is most likely to decide the near future. Although we have tested the 10k level, today we have seen a pullback to around 9.5k and if we stay around that level for the weekly close, the...

Profit_Through_Patience

Updated 

I just wanted to pinpoint the expected resistance levels that we'll probably encounter if BTC continues its uptrend. These levels are defined by daily/weekly support and resistance levels and align quite closely with some fibonacci extension levels. Is it possible to skip a level ? Sure .... Is it possible to go back down ? Of course it is ... it is a financial...

Profit_Through_Patience

Updated 

After a 70% pullback and a low of around 5800 we have heard a lot of doom scenarios for Bitcoin and cryptocurrencies in general. However, I am here to bring you some positive news. Looking at the RSI levels using the standard 14-period I've indicated most of the occurences where we broke above the 60 level and as you can see on the chart, whenever the 60 level...

Profit_Through_Patience

Updated 

Looking at the long term trend we can see that it is still intact. The BTC move today tested the line and we should see a rally to the upper trend line again now.

Profit_Through_Patience

Updated 

Alright, hear me out on this theory : On 20th November announcements were spread about the Bitcoin Futures launch on CBOE and CME Shortly after that, price starts moving up strongly and market cap goes parabolic (big players who plan to go short on BTC when futures are launched ?) After the launch on CME, we see a huge drop in BTC price (same guys taking...

Profit_Through_Patience

Updated 

Bitcoin has had a nice run down from it's previous high just below 5000$. Honestly it was due for some relief, nothing can keep going straight up. Going back to my roots, I discovered a bullish Gartley pattern that is now complete right at the level where we previously saw a huge rally start off. At this same price level we see a Fibonacci cluster which could...

Profit_Through_Patience

Regularly we see price break out after a consolidation, only to suddenly reverse and break out to the other side. Then, we continue swiftly in the direction of the initial breakout creating a "whipsaw" effect. Why is that ? In simple words, it is the smart money that attracts retail traders by pushing in one direction (mainly breakout traders) and put their stop...

Profit_Through_Patience

Updated 

Hi guys, it's been a very long time since I last published a chart. Sincere apologies for those who have been waiting for it. The reason I am publishing this one is because all stars are getting aligned for a short of EURUSD around 1.0800 AB=CD potential completion 1.0800 even handle Potential Bat Pattern completion 1.618 inversion of last move down 1.272...

Profit_Through_Patience

Updated 

Trading is all about finding probabilities that give you an edge. A historical support/resistance level is such an edge. If you take a look on the daily chart you will see that the current level has been serving both as support and resistance for numerous times in the past. Don't you think it's likely that we'll see a reversal here (even if temporary) that...

Profit_Through_Patience

This is basically an addition on my previous publication on this pair confirming the setup and adding additional reasons, building the case why we might see a reversal here. Previous published idea : Agree with this idea ? Thanks for giving me the thumbs up by clicking the like button. Have another view, have questions, comments ? Feel free to share it...

Profit_Through_Patience

Currently I am trading this pair to the downside, entering at the touch of the trend line with 2 targets : a re-test of 1.63 for target 1 and the bat pattern completion for target 2. SL is currently in profit so I can just let this trade ride down. When the bat pattern completes at the 0.886 retracement of XA, we see also confluence with the AB and CB 1.618...

Profit_Through_Patience

Updated 

USDCAD is really becoming my favorite pair ! When you look at my previous idea for this pair in which I predicted the drop to the 1.34 area, you can see that 75% of the drop has already been reached and in my opinion there is not much that can keep it from dropping further to the predicted level. Around 1.34 we have a previous resistance level which should now...

Profit_Through_Patience

Updated 

Patterns galore it seems this weekend. Although this pattern is not at completion yet, we did already break above the B-point. We might see a retracement into that B-point level before rallying towards the completion of the pattern. Around the completion level, we have previous structure/support (red dotted line) which could now act as resistance and we also have...

Profit_Through_Patience

Updated 

An almost perfect pattern is very, very close to completion and it's a beauty, textbook cypher pattern. Why ? AB leg retraces to 0.382 of XA-leg BC falls perfectly in between 1.272 and 1.414 CD completion at 0.786 has perfect Fibonacci confluence (see chart) On top of that we have a previous support level that has already proven resistance in the past just...

Profit_Through_Patience

This pair has been consolidating for pretty much the whole month of February, with a light tendency to break to the upside. Consolidation is a perfect area to look for harmonic (or should I say fibonacci) patterns and this is not an exception. We are offered a bullish bat pattern that would complete in an area that has been proven to be support and resistance a...

Profit_Through_Patience

Personally I do not trade this because the pip distance for the stop loss is beyond my acceptable level but I think nevertheless that this is an excellent opportunity for those longer term traders among us. I myself might look to get on board of this short using another strategy, based on a potential double top or other structure/pattern on a lower time frame....

Profit_Through_Patience

Updated 

A bullish bat pattern is about to complete in this consolidating price action. Completion aligns with previous structure and the 88.6% retracement of the anchor leg. A potential AB=CD pattern also would complete in the same area Traditional targets : 38.2% for a > 3:1 RR 61.8% for a > 5:1 RR Also take a look at my USDCAD short idea (see link below) Thanks for...