Since july 2017 the priceline of Groestlcoin (GRS) / Bitcoin cryptocurrency is forming harmonic patterns with continuity. 1st price action formed bearish Shark then it formed bearish BAT and now it is forming another bearish Shark pattern. RSI is oversold. Histogram of MACD turned weak bearish from strong bearish . Now the candle sticks are closer to the strong support of 0.00001751 sats which is not broken since May 2017 therefore I have defined my buying range maximum upto 0.00001751 sats . I have defined some secure targets and also aggressive targets upto the completion of Shark's leg using Fibonacci sequence.
Priceaction of Bitcoin / US Dollar has formed bullish Butterfly pattern and entered in potential reversal zone to hit the sell targets insha Allah.
This PRZ area should be used as stop loss point in case of complete candle stick closes below this zone.
Volume profile is showing less interest of traders here, but we have a very strong bearish Marubozu candle stick hitting the 100 simple moving average support moreover Stochastic did not give bull cross and MACD is strong bearish so for secure trade we should wait for MACD to turn weak bearish or for stochastic to give bull cross then buy.
In case of breaking down this PRZ and 100 SMA support the price action may form a bullish butterfly on 4 day chart and we may see $7000 levels before taking next bullish divergence.
I have used Fibonacci sequence to set the targets.
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After successful formation of bullish Shark pattern the price line of US Dollar / Japanese Forex pair Yen has formed another bullish shark pattern.
Even though the price action has hit the sell zone upto 0.382 fibonacci but all indicators are still turning bullish therefore I am expecting more profit.
MACD is turning bullish
Stochastic is oversold and has given bull cross
Volume profile is showing less interest of traders at this area.
I have used Fibonacci sequence to set the targets.
Link of chart:
https://www.tradingview.com/chart/USDJPY/zhqnCIUe-USDJPY-formed-bullish-shark-A-good-long-opportunity/
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...
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My social links to follow:
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The priceline of SONM / Bitcoin cryptocurrency took two powerful bullish divergences in 1st wave it produced more than 289% and in second it has given more than 104% now the price action has formed a bullish gartley pattern and entered in potential reversal zone to take another bullish divergence soon insha Allah.
This PRZ area should be stop loss point in case of complete candle closes below this area.
We have 100 simple moving average support within PRZ area and 50 SMA below this zone and tehre is also an expected golden cross between 100 SMA and 50 SMA which can produce and other strong bullish rally.
I have defined targets using Fiboancci sequence.
...
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The priceline was moving within a symmetrical triangle and after hitting the support it made double bottom at the support of triangle.
In the meanwhile the price action had also completed the formation of gartley harmonic pattern and entered in potential reversal zone moreover the volume profile is also showing a very low interest of people to trade below that area.
The double bottom formation and potential reversal zone of gartley and low interest of people as per volume profile produced a powerful bull thrust so the price action broke out the resistance of the triangle.
Now the price action is moving up the trader's interest is too high between 0.382 to 0.618 fibonacci (upto $78.50), and above @78.50 can be a strong sell area coz.
The pivot resistance is above the strong sell area.
And we have a pivot point beneath the price action which can pull down the price action after hitting the area between 0.382 to 0.618 fibonacci of A to D leg of gartley .
But the final decision can be made when the price action will be entered in 0.382 to 0.618 fibonacci after that we need to see the movement of price action and all indicators if they will give bearish signals then we can sell.
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Regards,
Atif Akbar (moon333)
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