Good morning Steemit! Welcome to the Tuesday update - charts & thoughts
Good morning Steemit, good morning traders!
Quick recap from yesterday - Equities rallied (I never buy a Monday rally), oil broke through key support (so many more of "key supports" below), RBA said further rise in AUD strength could hinder growth. North-Korea has not yet decided to launch missiles around Guam areas.
Today we have inflation data coming up from the UK and later in the day, US retail sales, which takes center stage.
Most of today's charts are focused on the GBP, so lets roll onwards with the charts.
GBPUSD H4 waiting for the CPI data
EURGBP H4 waiting for the data as well. Ascending wedges are bearish patterns, but we might not be in the apex yet.
GBPNZD this is something i-ve been watching for a while. Possibly will be watching for a while more :D
USDCAD H4. Struggling at the 23% fib. Break it and we have some room to the upside.
USDJPY m30 chart. "The batman" provideth
WTI H4 broke down but hitting levels already. Im out of most of my shorts, but some i will try to ride lower.
BTCUSD daily. Bullish! But beware the daily candle, if it closes like this, it forms a shooting star and we could be in another phase of consolidation.
ETHUSD H4. Turning down?
STEEMBTC daily. First key level is here. Actually i would say i find no real key levels here as this hasnt had a real chance to form any yet. If other cryptos turn together, this could be in a world of hurt. Until then, this is a support around here.
That's it from me for today, looking forward to your comments! Thanks for reading and trade safe everyone!
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I think we are seeing the beginning of a rotation back into ethereum right now.. ETH/BTC is at support as Bitcoin looks extended with bad price action in short timeframes
Great point in regards to watching ETHBTC, but ultimately this could just mean that ETH falls slower than BTC (should they fall at all). But thanks for pointing this out.
Hello @furious-one! Nice post)
By tradition I support you! And I share my opinion on some of the tools)
A very good idea of working off a triangle in GBPUSD. I have this idea:
I keep buying Canada since last week (I made a post about buying) =)))
Cool to understand that there are still people who also think) Thank you very much!
Thanks @maksym7, your comments are most welcome!
So we are going to get strong inflation data in the UK?
That's what I'm anticipating from your charts.
unchanged CPI + core, but weaker than expected. The charts cant really predict news, but quite often news push prices to tech levels. Try to trade the levels. For example, a perfect bounce on this wedges bottom TL, i was looking for it to break down on better news, but for now, we're still in the wedge
Yes, I checked after reading. There was a slight sell off.
also, quite often my tech levels fail, so for those occasions we take stoploss and move on.
up voted. follow me plz
i upvoted your post plz upvote me back!!
this is insightful ....
आप सभी को स्वतंत्रता दिवस की ढेर सारी शुभकामनाये,
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STOPgood job
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