The EURUSD Violated a Major Support Level

Last week the EURUSD was finally able to break the 1.1665 support level which is also the neckline of a Head and Shoulder Pattern. This week,  i'll be looking for a pullback to previous support which hopefully should act as  resistance for a sell opportunity to ride the market lower. The next level of support is the 1.1400 level.

I made 135 pips from this trade

Hello Traders, i thought i should share the screenshot of a trade i took on the NZDUSD pair 4hr chart. This was strictly based on price action and i made a total of 135 pips risking just 40 pips

This trade gave me a reward/risk ratio of 3.375:1. if you would like to learn more on how you can get involved in trading opportunities like this, stay tuned to this blog as i will be sharing more information about it very soon. Cheers!!!

Another Bitcoin Retracement on the way?

The Bitcoin has exceeded our expectation and has been steadily trading north, we recently exceeded the $6000 dollar price mark.

But as you know, markets don't just continue going straight up or straight down, at some point the market is bound to give back some gains.

Right now from the technical point of view, we may have reached a very critical level in the market.
1. we just completed AB=CD harmonic move
2. There a confluence of 1.414 extenstion and 1.618 fib inversion.
3. The RSI indication is showing bearish divergence.

We are begining to see a reaction at that level. if it holds there are two possible levels price could trade to and find support.

The first level of support is  $4950 level and the second is the $3250. if the market is able to get to the 3250 level, it would be in confluence with the 200 EMA.

For now all we can do is watch what the markets decides to do and look for any high probability opportunity to get involved.

Bitcoin Crash or Just a Retracement?

For those of you wondering why the Bitcoin lost some ground in the last few hours, the reason is simple. If you trade the currency markets using technical analysis you will realize that the Bitcoin is currently at a decision level i.e it is testing previous high point. In November 2013 the Bitcoin reached a high of about $1090 dollars per Bitcoin. It then fell and continued falling until it was valued at $172 dollars per Bitcoin.

 In November 2015 it then picked up momentum and since then the Bitcoin has been bullish moving up). Now we are back to that same level of 2013. Two things can happen. The Bitcoin price could drop a little lower to maybe the $779.50 support level before continuing to push higher or we could miraculously break though the previous high and keep moving up.

Only the market can decide where it wants to go but Just understand that markets don't just move straight up or down It usually ebbs and flows.

Update!
I shared this at the beginning of the year with some Bitcoin investors on our Telegram group. This was just my own view based of the technical analysis that i performed.
 Fast forward a few weeks later...

As You can see, the 779.50 was respected and the market has started moved up. Will this move be sustained and are we going to break the previous highs? the truth is "i don't know" only the market knows that. But its just good to know how accurate your predictions can be once you master the art of technical analysis.