BTGUSD Next Buy PointsBTGUSD Next Buy Points
Well it got to 304, not as quickly as anticipated, taking a
whole 20 hours or so to reach the upper parallel/target for a
34 point win in a tricky market, 2 points hy of the target, but
the hit on the parallel was so good I'm claiming this one as a
victory, imperfectly perfect, is all.
So the next buy point here is around current values down to
287 with stops at 284, next below here will be 272 again if we
see it. And the place to a to these will be on a break above
the parallel...this will free BTG up to fly much higher if we
see it and must be followed (usual drill on a breakout). If it
can manage we have a realy good weekend in store here.
Next
DASHUSD Next Buy Points for break outDASHUSD DashDollar
We got stopped out of the long from 305 at 599 which was
cruel considering it bottomed at 596. Just bad stop
management - should have lowered it to cover the lower
parallel but didn't pay enough attention in truth, so busy with
those other 3 favorite girlfriends to pay this enough time.
Bad. And got punished for that lapse.
Back on the trail: the continuation pattern is clearer now.
There are two posible entry points here:
1. On a break of the upper parallel, confirmed by a push
above the blue line above it at 638, looking to buy on the
first minor pull-back with stops kept under the parallel.
2. But Dash is now in a vulnerable spot, trying to break above
the old dynamic support line from the lows which is now
acting as resistance...If this continues and Dash falls away
from the old dynamic stopping it now there is a good chance
it will fall back to 606-595 range again. If so look to buy here
with stops below 590/adjusted to below the lower parallel,
unlike the mistake made above, with a little luck.
But if Dash can break above this old dynamic and then the
resistance immediately above it, it would be a real show of
strength. Follow it as per 1st option.
ETHUSD Grinding Lower - next buy pointsETHUSD Update
Grinding lower again after day traders ahve bought the last
spike lower for the rally back to the upper parallel and then
sold off the line like good day traders are prone to do - and so
we see the price action we do here today.
Swing traders are left with the same options: Buy that break
above the upper parallel, it should be a good one when it
comes (you know the drill by now).
Other than that we have buy orders left at 446-444 range with
stops below 442 if struck. A waiting game. Do not be tired by
waiting.
BCHUSD Next Buy PointsBCHUSD Next Buy Points
Looks to be consolidating once more above old structure to
left on chart, moving inside a rectangular flag formation.
Closer up, it's moving down a pair of parallels and dancing
along between the two blue lines of fixed support, with pin
bars of interest at 1600 showing...it would be helpful (to
buyers at least) if it these supports gave way and it broke
lower to 1539-1516 range again, where it's a buy with stops
under the big green lower parallel. It is very unlikley that BCH
will drop below that line in the days ahead.
It is also a more speculative buy right here, simply because
the stop is so close it's worth the risk, which is 50/50...buy at
1600, stop at 1589.
And finally it's a buy/increase when the upper parallel of
the small flag is broken to the upside, needing a pulse of
buying power there and green candles emerging, looking to
buy on first pull-back with stops under the parallel - maybe
1640, depending on when the break occurs.
ETHUSD Next Buy PointsETHUSD EthereumDollar
3 BUY POINTS:
Looks like it's backing and filling back to 472 where it can be
bought with stops below 470 for small loss if wrong.
It can alsio be bought - if the above fails - at 463 if touched
with stops below the longr term trend line, which should hold
any further weakness, if we see it develop that way.
It's actually forming a large flag, shown on chart, which could
yet have a very bullish outcome. But we trade with the chart
and not our hearts....try to be as robotic in trading actions as
possible. Not easy sometimes, and sometimes it is.
So stick an order in at 472 with stops below 470 and if it gets
taken look to buy again from 463/long term trend line.
Otherwise the final option is to buy/increase on a break of
the upper parallel that denotes the flag. That, providing it
doesn't fail on any retest, would be very bullish - follow it
with stops below 480
ETHUSD: Next Potential Trade Set-UpsETHUSD Potential Trade Set-Ups
Pretty dull still here. It's not giving up without a fight but not
a range we need to be involved in right now. Maybe if it
breaks the upper dynamic holding back all rallies so far, but it
looks like running into overhead supply at 477 so if you follow
this break, should we see it, look to close out here and only
enter long again on a break above 484 looking to get long on
the next pull-back, ideally to 477 and no lower, using any
winnings from the earlier long trade out of the upper dynamic
as stops for the next long trade.
Bitcoin: BTCUSD Update Key Levels inside the parallels now Bitcoin BTCUSD Badly Drawn Boy
Wow. Broken the upper parallel and now consolidating around
where we sold. It looks like a buy from 8530 but must hold
here or it's likely to fall away more, potentially back to 8410
at lowest so stops on longs from here need to be quite tight
underneath.
Bit slow to see the new fantastic parallels emerging...should
have used that and not the other dying parallels from the last
couple of days as exit.My slowness, looking at other stuff - But
have left the old parallels on which may look confusing but
it's interesting so see these old resistance lines now seem to
act as support, containing the consolidation inclose up...draw
these lines on your chart! They live...so no bying under that
big new powerful parallel now in control of the upside, and
careful with day trading...you can seewhat it's
doing...dancing between the parallels...so wild. Use
this...fine lines..fishing...for now. It should build a little
flag as it does it...two strikes on the lower line will show hot.
Otherwise not so much near term
And the Alts V Bitcoin will get some respite now so they are a
buy...You got this now. yes?
ETHUSD Next Buy Point: Flag Formation - againETHUSD Neutral but underlying still strong whilst working inside the flag
Won't quit. It's spent the last few hours consolidating gains by
hammering out another flag. Two strikes on the lower parallel
shows this is still 'hot'. A buy of the lower parallel but close
out at the upper parallel if day trading. A break above the
upper parallel can be followed for next momentum break but
be careful ...very whippy! (see last break of the last flag).
IF at any point ETH loses the lower parallel of the flag it will
start to unravel for a while. Don't buy rallies if this happens.
Need to stand back awhile at that point if it happens.
This shouldn't really revisit the lower parallel if it's to remain
'hot' from here
Bitcoin: BTCUSD Next Buy PointsBitcoin: BTCUSD
Poor Bitcoin call late last night: a nasty little fake-out at 8144
buy point saw Bitcoin flip under the stop at 8140 for a small
loss, but could also have triggered a short at that point with a
stop above 8144 - also flipped - so two small losses, and more
painful still, the idea was OK - it did what it was meant to do
and rally, but we got stopped out. So annoyong and one of the
problems trading Bitcoin when you can't be there to watch
over its every move 24/7. Sorry for that.
Anyway, back on the horse...
In the last 12 hours Bitcoin has regained its equilibrium,
dusted itself down and made another break for the border
line highs at 8340-8350. And this time it's escaped, breaking
free and now building up a head of steam ahead of what looks
like another burst higher. It's unwinding a little now but using
the old highs as support - whilst it holds at the old highs at
8350-8340 it's strong. It's a buy here with stops tight under 8330 as
if this fails it will come back to the next blue line at 8280.
Right now this is good for day traders trading between the
lines but needs to do some more unwinding... We can look to
buy off 8344 and 8280 and day traders can follow a break
aove 8410 on next minor pull-back using a stop under 8370 in
case of failure.
Bitcoin cash/Bitcoin Next Buy points Bitcoin Cash/ Bitcoin BCCBTC
Making a little flag/continuation pattern: if a 'stock' is hot it
will only make two touches on the bottom parallel before
blasting higher - which means from here at current values.
So what happens next will tell us just how 'hot' Bitcoin cash is
right now.
A buy with stop under 0.1770 tightest or below 0.1710
loosest. Can then add if/when the upper parallel is broken on
upside on retest.
GE: Next buy points for counter-rallyGE Next Buy Points
We never got a chance for a long down by the lows, but we
did get the next one: the break above the small parallels
channelling the tiny corrective move yesterday and Monday.
It was a really good, painless/stress-free break too. So now,
after GE filled a small gap (left on chart) it's coming back to
support at 18.07 (tweaked by a couple of pips) and should
hold up there and bounce again (low risk entry point with
stops below 18.00 . If so, The next challenge should be at
18.46 (take profits) - we know that each of the last three
pathetic rally attempts have all been 100 pips...which is
exactly where 18.46 lies...then we only go long again once
we can see 18.50 has been broken on upside, looking for
19.36 where look to close (just under here) and some may
then wish to short with stops above. More as this develops.
Better than Bitcoin today too! Old V new. Today the old won.
There are some good trades here, between the lines - and so
much less stressful than Bitcoin. For a quiet, steady calm
trade GE wins hands down, no contest. Depends on your
profile.
Gold: XAUUSD Gold/Dollar play Update: Careful Here !GOLD: XAUUSD Gold/Dollar Play (continued) Neutral Here ahead of DXY break down
Gold longs on back of DXY weakness need to be careful here.
Still believe that the inverted flag formation on DXY chart
(right) is a continuation pattern prior to DXY dropping down
and out of the lower parallel down to 92.62. That will propel
gold as high as 1297 at least and more likely back to 1305 as
this move develops. But we cannot turn aggresssively bullish
of Gold until that lower parallel is busted on the downside.
Each test of the lower parallel on DXY tells us to close down
Gold longs again...and wait for that break down on DXY.
Dollar Index: DXY Update and Key levels for next breakDollar Index: DXY
So far DXY is displaying precisely the kind of technical price
action you'd expect of something in the process of breaking
down lower...the tiny continuation pattern with a bearish
upwards slope, every move contained within the parallels that
control this inverted flag formation. The dollar will try to rally
from the lower parallel of the flag so we need to step off the
gas around now if shorting USD across the pairs. Contrarians
may look to go long USD again here but be careful if you
do...at some point soon DXY is going to fail, breaking below
the lower parallel - the point to go aggressively short USD
again and to go long Gold once more, looking for 92.62 on DXY
and 1305 on Gold.
Bitcoin: BTCUSD Still Positive at Higher LevelsBitcoin: Update next buy Points Clean Chart
Summary: Overall dull right now but with a positive undertone,
still, at these levels. We look to buy from lower, closer to 7531
if touched or, if very lucky, on any sharp fast test of the lower
parallel which would also be viewed as an excellent buying
opportunity, should we be lucky enough to see it later in
China/London on Monday. Unlikely, but it's Bitcoin.
If unsuccesful from lower levels the next buy point will come
on a break above that upper parallel with stops under 7700.
Technicals Evolving - Still Positive at higher levels
Forever changing shape as it evolves, Bitcoin just can't attract enough buying power on a quiet weeknd to break above a
newly forming dynamic falling from the highs, which now forms a perfect parallel with its lower counterpart, still
picking out the lows perfectly. Finally, this large set of parallels feels perfect, unforced, more likely to be trustworthy.
Having raised the stop on the long from 7660 to 7700 in effort to get out with just 30 loss if 7717 pivot gave way
overnight...was stopped out - and with an overnight low at 7672 had I not bothered to move the stop up, would still be
long. So annoying sometimes, but still believe it was the right idea, but wrong damn level. Should have left it alone. Such
are pitfalls of stops. But believe that with BItcoin, more than any other instrument or speculation, stops are essential. But
sometimes one pays a price for being overcautious. Deserved it.
So now, in super-light volumes Bitcoin is struggling to attract buyers and yesterday's pivot line at 7717, having been rapidly
regained by the bulls early in London this morning, is now under pressure once more ...we can see that price has danced
around this line all weekend (the only accurate part of forecast for a frustrating weekend really, so far) and in
such a tight range that it's not even of use to day-traders now.
Strange how it's gone to sleep right on the dividing line at 7717 for last 30 minutes now. The freezer lid indeed. So if
it breaks below here it's likely to drift lower still, to 7630 and potentially back to 7531 again...so am not buying here, as
yesterday, because there is still that risk of further lazy declines from here. So far it's still in a large corrective
pattern, unwinding last week's surge from lows at 5645 to new high at 8000 by moving lazily sideways in the range that
occupies the same space that was rejected so strongly the last time Bitcoin made it to these heights. That's positive, so far.
But don't need to buy here, even if 7717 does prove to be significant again today. It could still get pushed lower - it just
doesn't feel as stong here today...so there are 3 possible buy points now: either from lower down if 7700 fails,
potentially close to 7531 or off the lower large parallel should there be a fast, sharp decline to test it at any point over the
next 24 hours or so. Unlikley right now, but it could potentially happen if we are very lucky. And if not, the 3rd
chance presesnts itself from higher up, needing a successful break above the larger parallel at any point later today or
tomorrow (more likely but it's Bitcoin, anything can happen.Repeat)
Stops will need to stay under 7700, looking for a move back up to 7980-8000 range, with lesser resistance at 7856 being a
likely spot for day trading bulls to take first profits. Looking to close out at 7980 if tested and then stand ready to go long
once more if 8020 is broken with stop under 7900. Any such break should attract momemtum players and swing traders as
well as day traders. It should be worth following, especially if we see or sense volume picking up too.
Downside looks limited at his point, particularly if 7717 continues to hold for the bulls. There is still a fair chance we
might see another test of 7531 afrter China opens later. If so look to buy here with stop 50 points lower.
Bitcoin: BTCUSD Overall Still Still Positive at higher levelsOverall dull right now but with a positive undertone, still,
at these levels. We look to buy from lower, closer to 7531 if
touched or, if very lucky, on any sharp fast test of the lower
parallel which would also be viewed as an excellent buying
opportunity, should we be lucky enough to see it later in
China/London on Monday. Unlikely, but it's Bitcoin.
If unsuccesful from lower levels the next buy point will come
on a break above that upper parallel with stops under 7700.
BITCOIN: BTCUSD Next buy point and triple play in quiet marketBitcoin: BTCUSD One quiet Saturday playing Bitcoin V Mon-Fri 9-5 job. Do the math.
Whilst above 7717 key near term support the bulls are still in charge here. The opening in China will likely drive price down
but it should hold up off the lower parallel and down to 7717. Touches here are buying opportunities with stops under 7000
line and if they produce pin bars will show that Bitcoin is still quite
strong at these levels - and so long as 7717 continues to hold all is good for Bitcoin. It's making a small continuation pattern
prior to moving higher by look of current price action. A break above the small dynamic holding price back right now on chart
is the next signal to go go long/increase longs.It should then continue to grind higher to
7980-8000 where it becomes a sell for day traders if 7970 is touched. The 250 points of profit (200 after spreads) can then
be risked on two trades, depending on risk profile and whether day-trading. If there looks to be still no real volume
as prices move up to 8000 consider reversing current long at 7990 with stop 40 points higher looking for 150 -200 points on
the downside. But be ready to reverse and flip long again if we see 8030 broken at any point (blowing the short stop for
40 loss) and particularly if higher volumes accompany this break out attempt above the key 8000 barrier - (a big green
candle tells you this, you don't need to see a volume indicator to know this, really) - look to get long with stop 110 points
under 8000. If it then fails you end up breaking even. But if it wins and breaks 1000 points higher ...(last weekend we made 1450
points, but the market was more fluid then. This weekend, so far has been very quiet. so am only hoping for 250 to 7780 and
(maybe 170 short from 7990) - but it still beats working Mon-Fri - even when it's quiet. Am moving stop to 7700 for 30 loss
if wrong from here. You don't need to believe in Bitcoin. You don't even need to own Bitcoin for more than a few days at a time.
You just need to trade Bitcoin when the chart tells you it's Ok to do so, using stops. We've taken over 3000 points out this
thing in exactly 2 weeks that's 38% of the total value of Bitcoin - in 2 weeks. Without owning it. All calls are there to check.
Bitcoin: BTCUSD Next Buy Point: Folllow the ChartBitcoin Update Next Buy Point Follow the Chart
A reverse head and shoulders is forming with neckline at the
upper parallel. Next buy point comes only when neckline is crossed
on upside with stop 50 points lower - upside measurement implied
target is 8390 on any sustained break. The whole thing fails if
7717 - 7660 range also fails, for fall back to 7530, which must
hold today at all costs for bull case to stay good in near term.
So far this battle for the new high ground continues, the bulls
trying to grind down the bears at high altitude, and so far
they're....winning. The way this pattern develops determines
the day from here. It will likely take a while to play out yet -
we don't even need to second guess it here, really. It's tough
up here - that selling out of London first thing...was that
heavy weiight Goldman clients closing out longs from lower
down at the exact spot Jafari tagged at 8000 as the next high?
It was a big bad red candle, first for a long while...it's tough
up here.. .so we ait and simply react to the next signal. If it's
a break above the neckline we buy, as above. If it's a break
below 7660 we get stopped out for 130 points profit before
spreads. Not great, but...it's tough up here. If 7660 breaks it
means a test of 7530 - and if that should break it means the
damn thing has flipped right out of the freeezer again and
we're going to have to strart the chase all over again. Please no.
But it's Bitcoin. Anything can happen. (And If it does, we switch
back to shorting rallies back up the blue lines. Please no.
Like in Alien (new theme) we're watching a new life-form develop
on our screens in front of us. Intersting stuff, no? Please comment ffs!
Let the chart decide for us. And let the force be with you,
guide you, Luke. Trust the force!
Bitcoin BTCUSD Update next buy point Bitcoin: BTCUSD
The new long is going quite well, so far...the measurement
implication of the pennant formation is 8079.
However 7890 is the absolute high and profits should be
realised now. Look to go long again on break above 7900 for
move to 8079. Stops 50 to 200 below
Careful here right on the highs can take profits here if day
trading or raise stop to 7870 in case we stall...up to you as
per risk profile
just now
Trade active: and if you do take profits be ready to go long on
a break above 7900 with stop 50 to 100 below at max.
Measurement implication of the pennant is 8079 once 7900 is
broken
Bitcoin BTCUSD Next Buy Point Bitcoin Update Next Buy Point
Buy on move above the little trend line off the highs.
Stopbelow the line by 50 points.
Flag froming off the high with minimum 250 point upside measurement once the little dynamic is broken on upside
Bitcoin: BTCUSD Now that's a green candle - it needs sustaining Bitcoin: BTCUSD Lots of opportunities to get long again off the blue support at 7426 and a few points higher before Bitcoin blasted higher,
doing just what we needed it to without messing with heads at 7570. Now that's a green candle...worried we might see another blow off
top as the great whale surfaces and blows, like last time, leaving a great spout from here to 7890. so it's
Ok to take profits at the old highs and just under at 7850-7890 if they get tested today. We are running some serious profits
again so far and they need protecting, either running the stop close to the last minor low or at lowest 7550. And then, if we
see 7900 broken we can go long again with stops just under 7850.
Bitcoin: BTCUST Next Buy PointBitcoin Update BTCUSD
So Bitcoin could be double topping - if it is it only gets
confirmed by a fall below 7347 support line, with first clue a
break below the dynamic support (not relying too much on
the parallel yet until we can see how it responds when
touched, if ever.
The other way out from here is to break above the little
parallel above it and make a blast for 7570...and that looks
more likely. If stopped out earlier or missed the updates, this
is next chance on buy side, other than looking to buy retests
of the blue line at 7426
Please see comment on left for more about breaking 7570.
Bitcoin: BTCUSD Next Buy PointsBITCOIN: BTCUSD Next Buy Points
First off, that pin bar from the high today is threatening, now
followed by red bull-engulfing candles, so am relieved we closed
out just on the high of the day, so far at least...we were lucky.
So now we're looking to buy again from lower down...
First support is 7350-7340, and then 7300-7270.
But now, as this is written a pin bar is forming from 7370,
showing buying interst at this level.
So we can look to accumulate again here, at 7400 and just
under, down to 7310 if it comes to meet the dynamic..
There is potential for Bitcoin to touch the dynamic support line
running from the recent lows on chart, but it's loosely
defined/imperfect so we can't attach as much import or
potential power to this line as we can with a perfect trend line.
Right now Bitcoin is running within a pair of small parallels again,
another continuation channel prior to rising further.
Ideally, it will come off again from here at 7474 and come back
down to 7350 and leave a pin bar at 7315 right off the dynamic
- that zone is the perfect entry area with stops 50 below the
parallel for now.
Alternatively, if we don't get a chance to buy lower, as above,
the next buy point is as Bitcoin breaks above the the little
parallel containing it now...but doesn't look quite ready yet.
Longs need to be careful at 7570 -7580...it could smash
straight through, as it did at 6950 critical level - and it could
also fail - am wary therefore. We want to see 7570 busted on
the first attempt, without a struggle and then see it become
support on any subsequent pull-backs. If we get this we stay
long. But if it starts to stick under 7570 we need to close out
and only go long again when 7570 is beaten with stops under
7500 for now.
