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ETH/USD bounce and breakWatching ETH at the moment for a bounce on the previous support level, going for an aggressive entry and expecting a bounce to break the down trend in a squeeze. Expecting a descent bounce considering selling pressure residing and momentum on the CCI slowing down. This trade offers a descent Risk to reward of almost 8:1 although if I get my entry Ill be paying close attention incase we do not sustain any buying momentum after the break. For me this is a low risk trade of .5R
FTX:ETHPERPLong
by DeNomics
2
BNB/USD short tradeWatching this bearish channel at the moment and looking for a new short entry, I missed the last one so going to wait for it to head back up to the top of that channel which also intersects with an EQ zone which could be some good resistance. 3:1 RR and small risk for me with my stop loss above the previous swing high, clearing the previous wicks. I will manage my trade if it gets back down to the bottom of the channel, it may continue to deliver but if I see any bullish candle sticks I may close down the position and take the win.
FTX:BNBPERPShort
by DeNomics
MATIC/btc the wait tradeThis is a big call but requires some patients to see how this is going to play out, for now matic is still in a slow bleed and heading towards a level on the higher time frames that created some demand. Expecting selling pressure to slow down soon with a divergence building on the CCI, not expecting a reversal and more so a consolidation forming a new bear flag. If we get this bearish pattern Ill be taking an aggressive entry at the top of the range to offer a high RR of around 7-8:1 at 1R Targeting around .00001678 sats from where we had market structure back in may, since the run matic had being quite parabolic im expecting this to continue to retrace a good 70-80% from the new high from a base of around the 500 sat mark. My target is basically the 786 which ill be more than happy to front run at 7:1
MShort
by DeNomics
XMRUSD analysis (request for jreback)This was more of a request from another member @jreback Just to be clear I'm not trading this market right now. First thing I see is the ascending wedge that formed back at the start of July, this is one of the only types of Break out patterns I trade to the Upside as it generally offers great Risk to Reward and fast price action with very little market structure to clear to the left. How ever the failure on the squeeze saw selling pressure take over and win this battle so more downside coming. Current market structure is a slow bleed as we find new lows, the support level marked is formed from structure back on the uptrend a few months ago. One thing i noticed is the large volume spike over the last few days didnt really have the price action you woul expect and noticing 5 short candles with large wicks to the upside tells me a lot of that volume spiking is sellers pushing price down as there is obviously a large supply at that level. Im assuming this may continue to bleed lower over the next week or so and would look for a new reaction on the candles when coming to that support level around 171. Watch those 2 small circle areas from the lower support of this range, an early break could see a much faster drop imo.
XShort
by DeNomics
BNB BREAK OUT!!Just keeping things simple on this trade for now as this is one of my favorite patterns to trade on the short term break outs. After a descent drop we often see a short term recovery, what i look to see here is if the bulls continue to make higher lows. Im not to fussed about the bears holding resistance still on a horizontal in fact I want that to happen to define a clear level for invalidation. As we get squeezed into this tightening range of supply and demand I simply wait for the imbalance to flip and tell us which way we may be heading, these often offer high risk to reward and are generally fast movers. Only targeting previous structure around 380 mark and Happy to front run when we get close to manage my risk or just chase it up with stop losses and see what else it can give. My stop loss placement is under the last previous higher low as a new validated level of support, how ever if we continue to walk sideways on this EQ level and break out of the up trend then I may close down my position flat. Descent 4:1 plus so happy to take the risk on this one
FTX:BNBPERPLong
by DeNomics
4
Bitcoin could be in trouble hereRegardless of all the hopium charts floating around and all the different theories and fractals that pit BTC to eleventy billion in a few years, I cant help but address the elephant in the room..... whos buying? We have seen some serious drop in volume recently and its only getting worse as we continue to range closer towards breaking point, that support zone around 30k imo is all thats holding it up right now. Good chance that the retail money that was driving the market is now trapped and with so much uncertainty (regardless of what they chart) there really isnt much buying going on. This is what happens on speculative assets, when the buyers are all in there is no organic demand to continue to drive price, retail have no money left because its all tied up in heavy positions. Happy to be proven wrong but unless we get a clean break from this channel with a big volume spike I feel its only a matter of time that we start eating our way through the demand at 30k and clipping stop losses causing panic sellers and break out traders to jump into shorts causing further momentum on the downwards move. Calling it early and I'm locked and loaded ready for the drop, but if we nuke this channel to the upside ill consider closing out my short from 41k.
BITSTAMP:BTCUSDShort
by DeNomics
14
XRP bear flagTrading smaller time frames on XRP at the moment and looking for a Bear flag forming on the smaller time frames, zoomed in on the 2h chart simply to get a better idea of price action with in the flag to determine a potential Elliot wave playing out inside the flag. I'm personally not huge on break outs and much prefer to use an aggressive entry style to get in at the top of the flag with a much tighter stop loss to offer a much higher Risk to reward and then rely on the break out traders for momentum if the bottom of the flag breaks. Not overly confident so only risking .5R on this for now and might not present the ideal entry until tomorrow so will keep an eye on it for now
FTX:XRPPERPShort
by DeNomics
$BTC New ATH; Path, Plan, ProfitIllustrated are my ideas on $BTC's path to a new ATH. Perhaps by Jan/Feb '22. Which means upside movements soon. Maybe it happens maybe it doesn't. I try to imagine all paths so I can strategize a way to profit from any scenario. The only way to do that is to plot out possible paths, plan a reaction, then execute for (fingers crossed) a profit. Green line - we reclaim 1D 200 EMA forming a rounded bottom. Range trade scalps to increase $BTC position for max profits when it rips. Red line - $BTC sees violent downside forming classic reversal patters such as inverse H/S or C&H patterns. Hodl short position until bottom becomes clear. Spot long bounces and breakouts. I'll adapt my plan as the path reveals itself but curious what you think? Do you have any predictions on paths forward or plans on how you will trade? Hodl, short then long the rip, hold fiat to catch bottom for max multipliers up? Curious to know. Comment with a link to your chart or describe your ideas to lend greater perspective for the community. Cheers!
by readyplayer9
AMPL/USDT Double Bottom Formation, 2x Profit Probability!I've been following this chart for almost months, but since I'm not actively on the crypto exchange, I can't take advantage of these opportunities. Actually, I should have shared this chart months ago, but I forgot. It seems too late to buy now, but we may still have a chance. If we look at the other double bottom formations, it was realized with a slightly longer interval. Even if we look at the bottom, we see structures with double needles. Maybe the last double bottom I showed could be single of the double bottom formation. Therefore, we can see a decrease to 0.75-80 levels again. If it stays above 200EMA (Purple line) maybe it can go directly to 1.70 levels. Both possibilities are positive, but for those who can't buy it like me, it would be good for it to drop once again. If it were me, I would put my limit order at numbers like 0.80 and wait. Also, none of what I've said here is investment advice. Additionally, it has taken a very resilient stance towards BTC. Yes, it fell more than 50 per cent but that helped our technique work. As low as 0.50, buyers recovered this price and retreated to the main zone. I think this fake breakout shows us that there are still a lot of buyers and they are resistant to BTC dominance. So I would trade with stop-loss. As a sell order, 1.60-1.70 levels look very perfect. Of course, there is no such thing as it will come out, but he has tested it 3 times. In fact, this time (if it comes out) it can go above the 1.70 level and break the big resistance. Your every investment is your responsibility. I hope all your trades will be profitable. I wish you a good day! I trust the AMPL...
FTX:AMPLUSDLong
by burhJ
1
Solana V bottom recovery?Only spot trading this one at the moment against BTC (actually miss spot trading some times) I havent been playing a lot of the alt market recently as I have had more luck just trading Bitcoin through all this mess but I do enjoy trading SOL, might be a bias because I trade on FTX alot but I enjoy its price action and volatility, and can normally get some descent set ups on it. Now although im semi bearish on the Crypto market has a whole right now I couldnt help but take this trade from that V bottom and R:R it offered over 7:1 and I got a descent entry off the pull back so happy to sit on this for a while at .5R. I have circled that area at .000946 as the troubled area we need to break through for this trade to continue, if we fail to break this either 1st or second go and there is a lot of bearish reaction there like a big bearish engulfing, lack of volume or wicks to the upside indicating a supply zone It invalidates my trade and ill exit early for small profit and write it off. Breaking this level im happy to sit tight and move my stops into take profit and let it run for a higher target and reassess when we get closer before jumping straight out.
Long
by DeNomics
2