BTCUSD - Forecast For May 29thHi guys, everyday I will post a forecast analysis on BTCUSD. It could be useful for daytraders in order to identify potential movements expected during the day according to technical analysis .
My analysis is mainly based on trendlines , supports, resistances and most common chartist patterns.
No need too much explanations, the chart speaks by itself. If you have any questions feel free to ask by leaving a comment.
Economic news of the day: Consumer confidence (USA)
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Happy trading!
15min
ZIL: 15 minute Chart- Scalp from earlier today.Check out my scalp trade from earlier. Locked a profit at 3% and unfortunately auto sold off a quick wick. It ended up climbing nicely to the predicted target. Had it played out exactly as planned, this could have been almost 9%! Still happy with the profit though.
Check out the nice divergence, noted FIBS, etc and see why I entered this scalp.
ROOKIE trader; Follow at your own risk!
-Solid horizontal orange line: I bought at that price
-Dotted horizontal orange line: mock buy, not in the trade yet
-Solid horizontal pink line: Stop loss/sell implemented
-Dotted horizontal pink lines: Targets
Scalp to the bottom of the channelThe bias is long but short term pullbacks can happen so this idea is risky cause obviously the main trend is bullish but regardless there still might be a quick stab to the downside.
This is just an idea, not advice!! Good luck to everyone who are trading the tough markets.
LTC/USD Bearish H&S formation on 15 Minute BITSTAMPSeveral indicators still yield bearish signals on shorter time frame 15 minute chart(s).
(1) Possible H&S formation - my analysis (though this could soon be ruled out if price continues downtrend) is another pop to the 170 level, before retracing back down to the right shoulder neckline to a complete a bearish H&S formation.
(2) Money flow remains in bearish territory, below -12.5 suggesting money remains on the selling half of market depth.
(3) GMMA (on OBV) consolidates suggesting price agreement in the direction price action leads, with recent short as well long term traders without a clear sentiment of market direction
LOOM: Quick scalp trade from earlier today- 15 minute chartHello hello! I've been playing around with my own version of scalping for the last couple days and pulled some decent profits. This is highly NOT recommended unless you have your risk management and emotion in check. As yo ucan see, I go crazy with the FIBS. I pull the main ones off the daily and 4 hour charts, and also do them for the 15 minute and even 5 minute chart movements. Yo ucan find patterns like consistent retracements to the .618 FIB or constent rebounds of up to the .382 FIB if you reverse it (examples only.)
I always look for RSI in the dumps and small divergence as a main indicator. Also, as noted on this chart, I also look for strong support for RSI in the mid range of the chart, so you don't have to rely on RSI dropping way below 30 all the time. In this case I bought when the bears tried to push below the FIB and it was rejected into a hammer-ish reversal candle. I sold at the resistance I had already mapped out from all the FIB pulls from earlier. This was a bigger order, about 5% gain in a short time with a 1% stop loss.
Let me know your thoughts. Luck or logic? ;)
ROOKIE trader; Follow at your own risk!
-Solid horizontal orange line: I bought at that price
-Dotted horizontal orange line: mock buy, not in the trade yet
-Solid horizontal pink line: Stop loss/sell implemented
-Dotted horizontal pink lines: Targets
Run up before more heavy crashes following cup and handlesorry for the lame post just thought id throw some insight before bed , this is my first post. ETHUSD just had a pretty perfect cup and handle pattern , a buy signal ,a good time to exit any shorts and capture max profit if you have not already , and wait for the next good move( good entry) now note that eth is HEAVILY bearish right now and you shouldnt really be risking going long, instead find and wait for confirmation of peaks before breaking down more and SHORT , only buy to cover dont ride both ways eth is going to scarily and rapidly continue its downfall. (in my opinion ..... besides xD the chart looks like a massive pump and dump) .... Hope my comments helped atleast someone. Goodnight Traders!
BTC trading ranges on a 15 min timescaleIn previous charts I've shown 4 hour timescale support/resistance and Fibonnaci retracement levels. These provide me the "big picture" trends and levels.
In uncertain times, I'm less likely to hold a position even overnight. I trade at significantly shorter timescales, scalps if you will.
So, with the 4 hour trends and fib retracements still in place, let's apply more granular indicators.
Focusing in on the lower 4 hour fib range of 0.236 to 0 ($9182 to $5873), which we are currently in, provides our focus. Within that range, I took a recent significant low and high and drew another set of Fibonnaci retracements. I choose not to draw sub-fibs based on the entire 4 hour fib range, but use a swing within the range. I did this due to the presence of the 4 hour support line adding influence to keep within the top end of the range and outer fib retracements are not the best for this technique, but anyway.
OK, so now we have some 15 min retracement levels. I use these as more of a guide and less absolute than my 4 hr retracements. Smaller time scales tend to have more noise and overshoots. You'll see retracements levels hit and also quite a few mid-level hits as well. But, still, knowing that, quite useful information.
You may also be surprised to see when zooming down to 5 min it's still somewhat relevant.
Note: When I publish these charts, I hide/remove some other indicators I have normally displayed so you can see more detail on the levels. I normally have at least Volume, MACD and RSI also display to help confirm any trends.
NZDUSD, cypher bullish 15 min timeframe. In the small World, there will be wins, and trades.
Still wait for the gartley, 1 week.
Are you fast?, let's wait for the dip. And the D point, market have been oversold, let's a few pips more, and we will hit it.
Targets 1: 0.73014
Targets 2: 0.73097
Stop loss: 0.72770.
No HODLing! Scalping intraday with price action (Trade examples)Just holding Bitcoin is a big bet on the future. Scalping intraday on the other hand can provide a regular income.
Making 2% or 3% per trade with low risk several times a day?
That is often possible scalping from the 15 min chart.
The marked trades all have tight stops with 1% - 2% risk, profit targets are always bigger than stops.
Let's look at the six trading examples in the chart, I have marked entry bars with numbered arrows:
Trade 1 - Short:
- new low expected after trendline break (also 1.leg)
- second leg down expected
- second attempt to go lower (second entry short)
Trade 2 - Long:
- second entry long from support (low of range)
- pullback to EMA expected
- target: breakeven stops of shorts (from trade 1)
Trade 3 - Short:
- short term uptrend broken + new high
- range trading expected (prices move above and below EMA)
- turned down at resistance level (11.200)
Trade 4 - Short:
- turned down at possible channel line, confirming it
- failed break higher out of tight range
- retest of lows at 10.850 + 10.700 expected
Trade 5 - Long:
- failed second entry short (second attempt to go lower after low failed)
- target at 10.200 has been reached (2. big leg down completed)
- new uptrend: target at resistance levels 10.670 + 10.900
Trade 6 - Short:
- steep uptrend broken + 2 legs to new high
- resistance at 10.900 reached
- retest of the lows at 10.200 expected because first break of big downtrend channel
- min. target: retest of upper downtrend line 10.600
What is happening right now?
Trade 6 would have been the perfect entry, because a steep downtrend emerged.
Now we had a new low after the break of that bigger channel (with a midline). T
he steeper short term downtrend has also been broken and then a new low occurred. You see the same pattern over and over again?
That means we could enter a sideways movement from here, but right now BTC is still moving below the EMA and inside the downtrend channel.
So there is still risk of getting another leg down with a target of 9.600.