There is a possibility for the beginning of an uptrend in BATBTC

There is a possibility for the beginning of an uptrend in BATBTC

Technical analysis:
. BasicAttentionToken/Bitcoin is in a downtrend and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 42.
. While the RSI and the price downtrend in the Daily chart are not broken, bearish wave in price would continue.

Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.00002480 to 0.00002080). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Beginning of entry zone (0.00002480)
Ending of entry zone (0.00002080)

Entry signal:
Signal to enter the market occurs when the price comes to “Buy zone” then forms one of the reversal patterns, whether “Bullish Engulfing”, “Hammer” or “Valley” in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about “Entry signal” and the special version of our “Price Action” strategy FOLLOW our lessons:

Take Profits:
TP1= @ 0.00002900
TP2= @ 0.00003100
TP3= @ 0.00003410
TP4= @ 0.00003830
TP5= @ 0.00004240
TP6= @ 0.00004820
TP7= @ 0.00005570
TP8= @ 0.0000678
TP9= Free

Week 39 – My scenarios

Week 39 – My scenarios

After sharing with you guys last week, what I would be looking at on the EURUSD             , sharing the scenarios I will be looking at this week on GBPUSD             .

After a very interesting looking weekly candle on this pair, I have an overall bearish biais that already started benefiting me last friday with a 2 targets winner (+215 pips & total 5,83 Risk to Reward ratio).

There are a few levels of support and resistance level I will keep an eye where I will look for entries, with an extra closer look to the most recent resistance level which got broken last week and price approuched it after last friday’s selloff on the GBP.

At the level I will be looking either for a rebound and will look to buy for a continuation to the upside; or for selling opportunities if price happens to break back below that level.

Will post an update and a review at the end of the week with how trading went on this pair.

Wishing guys a great week in the markets. Plan YOUR trade and trade YOUR plan!