BTC Bulls Are Back or liquidity grab ?BTC/45M
Before the pump yesterday, WE formed a pennant (two purple lines bottom left) then we legged up insanely to ~24900 but did not touch the origin point of resistance ~25212.
now we are forming the same pattern (two red line top right).so this could go up to ~28600 with this momentum that its showing. Green drawing shows the wave of the pennant which both have the same wave.
pennants usually are sign of continuation and if they fail it could be a jebait or a complete retracement.
My personnal bias is down side due to market and world economy situation.
Also made a video today which unfortunately is in DXY category in link to related ideas
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Pennant
GBPUSD SHORT!!!Now that we got the pullback to daily supply we wanted from CPI yesterday, we can safely ride the bears to demand zones.
There is GBP news today and I am short on the pound.
If you want to confirm the setup wait for a break and retest of H4 demand although the momentum might be too strong and the pullbacks might only happen on lower timeframes.
Trade with proper risk management and enjoy the ride.
Good luck!
Short term EURUSD tradeUSD has been strong as the FED pumps rates up. The markets are on hopium thinking rates will go flat or down soon. That may have resulting in a bounce in currencies against the USD, but I that was only a knee jerk reaction. I think that once the markets realize the FED is committed to long term 5+% rates then the demand for USD will be high from foreign investors. We will see a flight to the USD.
SANDUSDWatching the daily chart on SANDUSD I can see that it broke out of a bullish pennant and the 1.618 level of fib.
Currently the price is retracing from the big green break out candle. It's possible that price comes back below the 1.618 fib or lower to retest the previous resistance.
2.618 of fib or $1.035 is the next major resistance level to look at. If that breaks it can reach the flagpole target of $1.24.
If it crashes. We can see price go back to $0.63-$0.53 levels.
Waiting to see if this bullish pennant plays out.
Yemi_Fx1 | Short for EURCADThe nature of the market is it's making impulsive, correction structures.
The current phase on 1HTF is a correction phase, under probability I'm expecting price to move out impulsively.
I will be considering a Risk entry type within the pattern at an area of value.
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DPW // pennant formationWhile there is pennant formation on the chart, pay attention to the wedge resistance on the monthly time frame.