rookiyong

rookiyong Updated 

Sellers failed to capitalise on the 2 days drop last week. Potential Wave 4 completion as price bounce off demand forming a Three Tap setup and Rectangle Breakout.

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Successful test of the deviation failure level with a close below the close of the previous 3 days. Price is likely to move toward 1.7480 and beyond. Invalidation above the high of the breakout bar.

rookiyong

Right Angled Broadening pattern usually results in a dynamic move. Unconfirmed as of now but good potential since price keeps getting rejected. Enter early at your own discretion.

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Price deviation followed by a lower high and lower low. We have a potential short if price trades below trigger level.

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If this failure level hold, then the move down could be significant and could mark the swing high for at least a week or two.

rookiyong

Clean rejection followed by flat movement. I think a local high is formed. Price should see a dynamic move down but with limited downside.

rookiyong

If the January Effect (coined by Peter Brandt) holds well, it means that the January high could be the yearly high. Price is currently very near the January high and has signs of rejection. Watch this level closely as we could be in for a major move down.

rookiyong

GBPJPY Price failed to break down from the H&S pattern. The invalidation confirms a reversal is likely in play. Three Tap formed. Going higher from here.

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It's a long setup but not sure if bottom is in. If price don't get rejected at 1.3282, then is could be heading for 1.3457. Anyway, be cautious and do not get too excited trying to catch bottoms.

rookiyong

One of the rare times where EURUSD probably made high of the week on a Monday. Shorting here. On a high volatile market day, patterns happen on lower timeframe instead of HTF.

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Possible reversal point. No confirmation yet. Look for sell opportunities if price fails.

rookiyong

Short term market structure broken on Silver. Correction likely completed. Target at $28.6 / $26. Invalid above $31.75.

rookiyong Updated 

DXY The correction in dollar looks complete (a double-three). What follows a correction is an impulse. Unless price does another X-ABC down, otherwise 106.5 and beyond is the next target. USD denominated assets should be down soon.

rookiyong Updated 

AUDNZD has likely completed an ABC. Looking for price to make a full retrace to at least Wave B (1.0850), with extended targets at 1.0826 and 1.0782.

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Potential H&S formation at a reversal area. This is for a Wave (C) down to at least 0.9478 and beyond. Note that the structure is not confirmed until it breaks the trigger point. Shorting at current level offers a good RR but higher risk of failure.

rookiyong Updated 

Unless BTC has enough steam to surpass the RSI of 2021, if not this bull run from 15k is still suspect. Possible multi-year complex correction ahead. This is just based on wave analysis TA. I do not consider other BTC data like halving, network effects, cycles, etc in this analysis because I believe that price goes where it wants to go and those are just data to...

rookiyong

Power of Three setup. Price just broke out of the tight range. If it manages to climb from here back into the green area, the pattern is more or less confirmed and target will be the top, ~ 1.9500.

rookiyong

Price completed a broadening top and broke to the downside. The bottom for this wave is likely in. This pattern has a high bust rate (failure), meaning once price breaks back into the pattern, there is a high chance of it reaching the top again. For now, target is just the mid-level of the pattern.