monssonalma

monssonalma

It made so far 4 touches at the resistance zone and now will go down, also because the FOMC was released bad for the USD. Also, it raised too much in a short period of time without a correction.

monssonalma

I wish you all a happy new year !!

monssonalma

Official 5 waves are done now! If you are looking for a short opportunity from here, the first 2 possible targets would be the 0.382 fib retracement which coincides with the 4th wave, and the 2nd target would be at the 0.5 fib retracement where the 1st wave topped to take your profit. At the top of this uptrend we can clearly see now that 2 shooting star candles...

monssonalma

Take into consideration this rising wedge if you want to trade this pair. Rising wedges usually breaks to the downside, but if it makes a breakout to the upside consider the wicks of the candles as bull traps and always wait for confirmation before entering a position. I think that we could possibly see a retracement from here between the 0.382 and 0.5 fib...

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This Parallel Channel is being formed for about 152 Days so far and if we manage to break to the upside it would be great because this channel is actually a bull flag. If we fail to break the upper resistance trend line it will retest the support trend line again and maybe it will break it, starting a selloff causing the price reach possibly $3,000 again. If...

monssonalma

The price is hitting the 5th time the resistance trendline. Look for a breakout if happens, if not enter a short position. Consider the wicks as bull traps, and always when you draw a trend line take it from the candle bodies to be safe.

monssonalma

I've took a short position at the 1.3311 and i believe that it could retrace from here in the next couple of hours. Check for confluent reasons on the other time frames as well to search for other reasons to enter this trade. Also, check the volume indicator for conviction.

monssonalma

My thoughts are that we could get a really nice bounce from the 0.618 fib retracement, and if this is not the case, we could trend lower to the $7,950 where we find the 0.786 fib region and from the past we know that this is a zone with a lot of activity and may act as a support. Also take into consideration that the 8,000$ mark is a psychological number also. Be...

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I truly believe that this ABCDE pattern will break to the upside eventually because we hit the 0.618 fib support. Waiting for confirmation after the breakout happens to enter a position to go LONG.

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I believe that the 200 EMA can act as a strong support because we see a lot of rejection from the downside and the bulls might win this battle for now - On MACD indicator we can expect a crossover to the upside in about 8 hours - The RSI is making higher lows and that IMO is a strength sign. This is a possible scenario, wait for confirmation before entering a position.

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What do we see here is the first impulsive wave up with over 40% gain since 25 October 2019 till 26 October 2019 and after that we start correcting with an ABC correction wave which can land at the 0.618 fib support level where we see confluent support levels from the past prices and the 1:1 extension of waves A-B and the 0.618 fib level. Strong support is shown...

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Elliott wave technical analysis where we see the 5th wave finished truncated making a double top and ending up retracing near the 0.618 fib level. EURUSD possible bounce around the 0.618 fib retracement level, confluent support level. The 0.618 fib retracement level could mark the A corrective wave from the ABC corrective structure.