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EthererumThese are levels that I'll be keeping an eye on when dealing with ETHUSD, and I'll revise as price action progresses. I adapt to the change in money flow. *P.A. broke above S/R & D.T. formation (bullish sentiment) *P.A. showed rejection @ $4870 *Potential bullish continuation @ $2650 - $3433 I'm bullish, but I would be looking to see if price will retrace to the new range ($2650 - $3433) that formed from the higher perspective. Last week's weekly candle showed promising rejection in bullish fashion to the range, so I would scale inside certain time frames in order to see new price formations and wait.. Any fundamentals that may happen to drop will only expedite the inevitable. Just my thought's and nothing more, nothing less. We shall see..
BITSTAMP:ETHUSD
by ChrisJTradesFX
2
There is a Big move coming, Who is going to Win? (Neutral Bias)Disclaimer: Any of the content presented on my page showing my analysis of the market is just that, an analysis which means this is my personal opinion of where the price is going to go. Do not by any means take this simple analysis for a reason to enter a trade, I am not presenting these analyses as a form of signals, simply a way to get feedback and opinions from others on how my trades look. Take this trade at your own risk, but know forex is a risky market that you can make a lot of money but can lose that money or even more just as fast, enter these markets with your own risk and good luck with your trading :). Weekly Analysis: You can see in the previous weeks we have been in a downtrend but price has seemed to find a point where it is having a hard time breaking which would be the 1.03125 area. After price had bounced around this area multiple times in the past as both support and resistance, this is going to be a good zone to pay attention too. Like I was saying, after price bounced off of this area we saw it make an attempt to push to the upside trying to break through the 1.05100 area but has not been able to make a clear break in the past. This is showing us that price is stuck in a trend right now and is trying to break through that top side again or we can see a rejection of this area and see a move to the downside. Whatever way the price decides to go, I am going to wait for my classic break and retest pattern before doing anything. We will need more confirmation on lower time frames but this little explanation hopefully gives you the big picture view of the current market conditions. Daily Analysis: Now that we have a more zoomed in view now on the daily chart, we can see that the support area of 1.03125 has multiple candles with big wicks bouncing off of this area or not being able to break this area. We can also see that the 1.05100 resistance area that I mentioned earlier also has a good amount of big wicked candles which leads us to believe that these two zones are a good reference point for a possible trade. For me I currently have a short trade marked up on the chart just due to the recent rejection to that resistance area but, if there is a break to the upside we can see a good trade with low risk. We will still need a close below a recent low and more confirmation on a lower time frame, even after doing so we will want to keep our risk per trade limited and try to stay as disciplined as possible. Hourly Analysis: Price has clearly been in an uptrend with a lot of very big bullish candles, but the reason I think this could be a good short trade is that price had struggled once again to break that 1.03125 area and this shows me that there may not be enough momentum to break this zone and continue with the trend. No matter where price decides to go, there is going to be a good trade at hand, I would trade both ways with the same exact strategy. Wait for price to break out of a range, wait for the retest of a support or resistance area and a close below a recent high / low and keep risk managed. I am always going to tell you to risk 0.50% but, this is my personal preference and this is what works with my trading style but you can risk whatever amount you would like, just remember you may loose everything. Be careful out there and try to avoid this at all cost. Thanks again, KeySlot
Short
by KeySlot
DOGEThese are levels that I'll be keeping an eye on when dealing with DOGE/USD, and I'll revise as price action progresses. I adapt to the change in money flow. My analysis is always based off of HTFs and then I utilize the smaller ones in order to correlate with what I saw from high up. Major support is being tested again, and I believe that we might witness some manipulation in the market sooner than later due to what's forming from a higher perspective. I wouldn't be surprised if P.A. whipsaw a bit. I'm currently anticipating a reversal in price, bear's favor between $0.21 - $0.23, and for liquidity to change hands around the $0.18 level. Other than that I would wait for the $0.23 level to be breached, bull's favor. We shall see...
COINBASE:DOGEUSD
by ChrisJTradesFX
Bitcoin UPdateThese are levels that I'll be keeping an eye on when dealing with BTC/USD, and I'll revise as price action progresses. I adapt to the change in money flow. I believe it's time to tighten your belt, because it looks like we're in for a drop in price which also mean that we can potentially see bearish moves in other cryptos as well. Price action is approaching a key range, but there's a glimmer of hope at the bottom that I'm anticipating to see the shift in price take place. If the $29,301 level is breached then I would look to the next level below, and that's under $20,000. However, I look at it as wholesale prices so this would be a great deal (IMO) for those looking to gain more Bitcoin at a cheaper rate before them prices rise again.
COINBASE:BTCUSD
by ChrisJTradesFX
USDJPY - Daily C wave (short) is upun us!Hello dear traders. For upcoming week, i believe that we are gonna see some shorts on USDJPY According to ElliotWave theory. If you look at the Daily chart, you will understand that we are in at the end of the B of an ABC correction. Potentially we are at the start of a short move, C wave, which gonna last for 1 or 2 weeks. with no more talking I am gonna explain a trade setup that enable us to go short with minimum capital exposure. 1- Pattern: 1.1: Daily pattern (you can check my previous analysis on USDJPY in the idea section of my profile) ABCDE correction that started since 21 April and lasted until 17 jun, has been ended and confirmed with a powerful bearish candle in Daily timeframe chart. 1.2: 30 min pattern we can see in 30 Minute Time Frame, that downward waves are shaping according to motive waves structures. This can be a great reversal sign for us to jump on a short trade that may last for 1 or 2 weeks. After 12345 (motive) we should face a correction phase that not gonna last for too long. A and B of this correction has been shaped already, so all we have to do is that to wait until the C is over. Note: the correction may be a zigzag, since B of the 30 min TF has only retraced for 0.618 of the A wave. 2- Price: I have set a price PRZ for 30 min TF, that includes: downward motive wave Ret: 0.786 Projection of A on point B: 1.00 B extension: 1.414 I have highlighted the area with a red rectangle on the chart. 3- Time analysis: In Daily time frame, we are at a powerful time PRZ that includes: Time Retracement: last weekly movtive wave : 2.00 time retracement: 0-a of abcde (B of ABC): 7.00 time retracement: a-b of abcde (B of ABC): 2.00 time retracement: b-c of abcde (B of ABC): 2.618 we are right in the zone right now, so this is a huge point for our POTENTIAL reversal to happen! 4- Invalidation: If the price goes beyond 110.824, the setup on 30 min time frame will be invalidated and we should not open any short trades afterward based on this analysis. 5- Confirmation: We must see reversal signs (candle stick patterns, etc.) on our reversal zone for C, and then price must goes lower than B of ABC, then we can confirm our setup and open our short trades. 6- Stop loss: will be 5-10 pips above start of the 1-2-3-4-5 motive (110.824). 7- Take profits: Will be updated if our setup begins. but profit will be good since we may go short for 7 to 14 days. I will answer your question my dears, if have any please go on and ask in comment section. Also thanks for the time you have put to read my setup. best of luck,
Short
by HunkIsHere
Tools of the Trade: All about trendline'sI get a lot of questions on how do I seem to make such accurate trendline's, channels and support's and resistance. People seem to be impressed how often the lines on my chart are right where price seems to always react. Well this is as it should be, as your lines are markers where price action might do something interesting. But what is my trendline or support/resistance is probably different from yours. I will try to show my thought process on how I draw these lines. These tips work for me and they might work for you. But sometimes you have to fuss around some to find what works for you. This is because we all see different things. I will start with a trendline and I will use the GC (gold futures) chart. These methods work on all charts and all timeframes. We first want to find and connect at least 2 points in any given trend. Now in this case I connected the tips of the wick, but really for me anywhere between the open and the tip of the wick or the close and the tip of the wick is a valid area for a trendline. Now you may say, "great! but any 2 points make a trendline so what's the big deal?". You are right, 2 points do not make a trendline but this will be a start. So I can fuss around and pull my trendline down and to the left manually and try to find other areas that fit my trendline. But this will cause bias and we want to eliminate bias as much as we can. So what do we do to minimize bias? 1. Open up the settings for your trendline (click on the trendline and then click on the gear icon in the selection box). 2. Click the "extend trendline left" box. This is what you should see now for this example: Now you look at it and say, well that doesn't look valid because it goes through a bunch of candles in the yellow and orange ellipses. But now let's take a closer look at the orange ellipse area: look at all the blue arrows and that the trendline goes right through the wicks. This adds validity to our trendline. Now you may ask, what about all the bodies that the trendline goes through (see yellow arrows)? Does this matter? A different question though is does the trendline really go through the body pointed out by the yellow arrows? Let's take an even closer look! This looks pretty good to me. But what happened? I moved to a higher timeframe. I like to move at least 3x timeframes higher. Now you can see that the trendline goes through the wicks of the candle or at least pretty dang close. And because it is well known that looking at a higher time frame is always a good idea when entering a trade for confirmation this also applies to trendlines. A trendline that is still a valid trendline on a higher timeframe is an even stronger trendline. Now look at the yellow ellipse in a 3x higher time frame: Nope, that doesn't look good. Let's move to a 6x higher timeframe (12 hour) Nope, still doesn't cut it! But it does fit okay, not great on our initial 2 hour timeframe chart, we just can't confirm it on a higher time frame. So I say the trendline get's weaker around here: Another way to confirm an appropriate trendline is to use RSI (or any oscillator of your choice that shows overbought or oversold) The vertical red lines show that RSI is in the oversold area as price approaches or dips below the trendline. This is what you would expect right? especially since in these areas the price is coming from a downtrend. The blue vertical lines show that RSI is between 70 and 30 as we would expect as price seems to be consolidating around the trendline and actually tickles the overbought area at the price peak between the 2 blue vertical lines. This is also as you would expect. So these are my tips on trendline's and how I use them. I hope this is useful. Next tutorial I am going to go into how I do support, resistance and parallel channels. I hope this was helpful and I hope everybody makes money off these tips. Otherwise, play around with trendline's in your own way and you might find something that works better for you! Thank you! Miss Bunny
COMEX:GC1!Education
by UnknownUnicorn11430563
7
Support & Resistance analysis for Bitcoin | 4H timeframeQuick glance: On our previous analysis on BTCUSD, we discussed the rise following the dumping. Although, the macro indicators supposedly have negligible impact on crypto, El Salvador's decision to accept Bitcoin as a legal tender sparked off debates about other nations following the same some time in the future. Market in the last 24hrs BTCUSD witnessed a roller coaster ride. There was a sharp rise, then a retracement and followed by a rally. Today’s Trend analysis BTCUSD seems to have a strong momentum. Volume has also shot up. However, the increasing channel of the Bollinger Bands suggest increased volatility. Price volatility remained high at approximately 6%, with the day's range between $36254.00 — $38446.24. Price at the time of publishing: $37849.42 BTC's market cap: $707.14 Billion Out of 11 Oscillator indicators, 8 are neutral, and 2 points to 'SELL' signals, and 1 points to 'BUY' signal. Out of 15 Moving average indicators, 11 are giving a 'BUY' signal, and 3 are giving a 'SELL' signal. Indicator summary is giving a 'BUY' signal on BTCUSD for the shorter timeframe. Volumes have remained low in the past 24 hours. ---------------------------------------------------------------------------------------- The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume . ---------------------------------------------------------------------------------------- Any feedback and suggestions would help in further improving the analysis! If you find the analysis useful, please like and share our ideas with the community. Keep supporting :)
BITSTAMP:BTCUSD
by Mudrex
2
ETHUSD 4H timeframe | Bearish buildupMarket in last 24hrs ETHUSD broke the support of the Bollinger Bands midline. Historically, in the short timeframe of 4H, ETHUSD has respected the midline. Today’s Trend analysis ETHUSD could continue its bearish momentum, and move further downwards towards the lower band of the Bollinger Bands. Price volatility remained high at approximately 6%, with the day's range between $2559.18 — $2762.91. Price at the time of publishing: $2580.63 ETH's market cap: $310.94 Billion Indicator summary signals bearish momentum. Out of 15 Moving average indicators, 12 are giving a SELL signal. ETHUSD could be expected to oscillate between the lower band of Bollinger Bands and the resistance at midline. MACD line has given a downward crossover. RSI has furiously descended to 50. Further downward momentum below 40 gives a 'SELL' trigger. Volumes have remained low in the past 24 hours. ---------------------------------------------------------------------------------------- The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume . ---------------------------------------------------------------------------------------- Feel free to provide your feedback. It would allow me to improve my analysis further!
COINBASE:ETHUSD
by civilKitten60243
20