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USDCAD Sell the breakdown HI there, We were watching price action last week for sell on the USDCAD but it was forming lower time frame correction and was keep pushing for upside. It is still in the short term correction which can break up and can form one more short term bullish wave. if so then how you can trade on this chart. How you can trade on this chart. 1. Watch for the breakdown and sell on breakdown of corrective up trend. Or 2. Wait for the short term bullish trend to form another short term bullish wave and then look for breakdown from 886 of your fib lines. In case price dont breakdown then keep pushing for upside and close above the previous high then it will change the bearish pattern. As long as price will stay under the previous high then the bearish pattern is valid for sell. Good Luck. Please support the setup with your likes, comments and by following on TradingView thanks
Short
by Wave-Trader
18
BCH ABC correction after wave 3, possible strong support areaBCH has completed 3 impulsive waves up and is now on it's 4th wave forming an ABC correction. The $510-520 range will provide excellent support to start the final 5th wave up for the following reasons: 1)$500 is 0.5 fibonacci retracement level from wave 3 2)wave C has gone past 1:1 fib extension of wave A meaning it will likely hit 1.618 extension at ~$517 3)if 5th wave of wave C will hit 1:1 fib extension the target would be ~$512 4)price action provides support between $510-520, marked with a green box 5) ichimoku cloud not visible on chart, but it marks support at ~530 level, usually we will get a wick slightly below If this area provides support, we can expect further upside movement from BCH. Always wait for a confirmation before taking a trade.
BLong
by p2hku
1
XRP/USDI'm not a crypto guy. I'm more of a probability-risk/reward type of fellow. But if cryptos will survive, XRPUSD is dirt cheap and has swung my favorite number. If you look at the beginning of this chart, price went sideways for half a year around this area. The whole question is, will it survive? if it does, then a low leverage long term position makes sense to me because pattern wise you stand to double your money. Keep in mind, there are probably still people holding this from much higher up waiting for it to come back. I don't necessarily think it will, but I could see either a more complex "B" wave or even a "C" wave at this point to keep people holding. Just saying, it's pretty cheap, something to consider, but I wouldn't bet the farm on it.
KRAKEN:XRPUSD
by thillygoosth
Aud/Nzd Weekly Wave analysisI see audnzd to be on its "B" wave. Considering everything, I think it would make a lot of sense for this pattern to make one more up, possibly to break trend line and then downside. I think that would complete this small corrective wave it is on on the daily/4hr. If it follows that structure, that should mean nice sell upcoming. Then considering the pattern, there would be a very nice buy for a "C" wave once it breaks the low and completes. It may not do exactly like I have drawn up.....Just saying.... If it did....
by thillygoosth
2
Review my first TA - Bitcoin A B C correction pattern on dailyWell, my first post. Not sure if it's any good. I see an A B C pattern on the daily BTC-USD chart. Could be the last A B C correction of the downtrend that started from the ATH Dec 2018 before BTC will start a new uptrend to a new ATH. I currently see two options: 1. Bullish - BTC will stay above 6350, and will move between 7000 and 6350. It will break above 7000 somewhere in October. 2. Bearish - BTC goes below 6350, in which case it can fall to around 5400 to form a complete A B C, and will need a significant amount of time (months) to get back up. In this case, it could be that 2018 will not see a new ATH, and i would be skeptic about calls of BTC reaching 20-30k this year. Not sure if this TA is any good or just plain rubbish. But i'm just trying to get the hang of it, so feel free to comment on any mistakes or false assumptions. Just learning here !
COINBASE:BTCUSD
by bvdriel
2