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Showing posts from July, 2017

false breakout continuation on Bitcoin

As a result of the above analysis Bitcoin may see bullish continuation for the next few months to come  to come. As result of six months prior bull trend ,the coin established a high at 2897.82 which re-trace down to 2204.00 and created faky setup pattern closing back above it's 2204.00 last week.This will see the coin in all time highs in the next few months to come!!!!

EUR/USD turns bullish with ROUNDED BOTTOM

As seen in the above chart EUR/USD turns bullish after a long bearish trend from May 2014 high 1.3993 till March 2015 low (1.0462). This follows with a sharp rally (move up) and created it's lower high at August 2015 (1.1712)  the currency made some bearish move which created higher low at November 2015 (1.0514) this brought the currency to another rally (move up) creating a lower high at May 2016 (1.1615)  the currency fell for the rest of the year and form a strong support at January 2017 low as a result of the strong support zone the currency rallied heavily and broke above it's previous high (May 2016 1.1615). ROUNDED BOTTOM  was spoted as price broke above May 2016 high (1.1615). As seen in the above chart breakout was accomplined with high increase in volume confirming the ROUNDED BOTOTOM as bullish. After some sort of bearish re-tracement, the currency may rise up to 88.2% tergeting 1.2891 area. Happy trading!!!!!!!

Bitcoin test it's first bearish retrace level

Looking at the chart above. after the re-tracement that leed the coin to March low ( 903.99) the bitcoin rose by 68% in four months created it's high at June (2879.82). Along the line there was a strong resistance level  that was found at May (2734.90) this level was broken and made a new high at June (2879.82) in a week time, the coin broke back strongly below 2879.82 level which leed to a strong BULL TRAP. As a result of the BULL TRAP, the coin fell 34%. The next week price re-tested 2734.90 level which has now turn support to mark as sell entry the coin fell sharply to it's targeted price at 2204.00 (Major Zone)  (for those trading standerd lot size that should be $84,441 profit made) any strong bullish setup within the zone will indicate continuation bullish trend. a strong break below the zone will indicate continuation of the bearish RE-TRACEMENT.  Note: Don't foreget Technical Analysis is an act form and less science HAPPY TRADING!!!!

How Bull Trap leads USD/CAD close 2014 low

                                                            After a long two years bull trend, the USD/CAD formed a well bearish Rounded Top at January 2016 (1.4689) created it's high. This leed to a strong bearish move closing below Octoer 2015 low (1.2831) to confirm the pattern as a bearish reversal move. Looking at the chart above the price found support at May 2016 low (1.2460) this leed to a rally (retracement) and formed a large range bound within two trend lines. As the price rallied within the range bound, they was a strong resistance zone found at December 2016 (1.3598) which leed to a  strong (FALSE BREOUT/ BULL TRAP). After aboult 1 to 2 candle sticks the price broke back below 1.3598 (BUL TRAP) which confirmed a...

GBP/USD is close to it's targeted price as from (2008) market crash

                         The GBP/USD created a new high at  November 1st 2007 (2.1161) which letter result to the break of the previouse low at September 1st 2005 (1.6829) as a  result of 2008 market crash.  Looking at technically, the result of the discribed economic melt down news brought the pound to form a breash ROUNDED TOP which letter leed to a bearish breakout of September low at 2005 (1.6829). The pound fell for the rest of the year created a new low at January 1st 2009 (1.3502) which leed to a large range bound for over six (6) years and mark a large  RAISING WEDGE. Bearish breakout occure at January 2015 (1.5236) that took the pound more futher down within two years approaching toward targeted price at 1.1554 in few months or years to come.

About Chiejine Victor

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chiejine victor
Ojo, Lagos, Nigeria
Chiejine Victor founder of Financial Career Fx is a young full time forex trader (TREND ANALYST) He studies the market in daily basis. He set to define that Technical analysis is more important, an art form and less on science. The fundamental of victor’s approach to Technical analysis illustrate the existence of an inefficient market model (PRIMARY TREND)!!!!!!!!!!