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XBTUSD Breakout on bitMEXIn order to benefit from the bitMEX Inverse Swap Perpetual markets, We must take full advantage of the Breakouts. I achieve this by setting 'Stop Market Orders' I set One just north of the ceiling of the 'squeeze' & One just south of the 'Floor of squeeze' In the scenario we just witnessed I set my Stop market order to LONG bitcoin @ $7439 & set the other Stop Market Order to Short bitcoin @ $7360 ish. This works in our favor Bcuz regardless the price goes North, It takes our order, If the price drops Well again it takes our order for an easy 100+ point profit... Cheers, I hope this Helps clarify my strategy on bitMEX I use a 1 & 4 hour candel to draw the 'squeeze ceilings & floors OR some call it a 'Flag OR Pinnet' Regardless. Then to set my Stop Market Orders I use the 5 min candel view to get precisely the right entry prices
BITFINEX:BTCUSD
by bitcoinatx
USDJPY Short Opporunity in near term (1 hour chart)USDJPY Near term short opporunity Wave ii for USDJPY seems to have started in daily/4 hour charts with divergence visible in wave iii & v of wave i. Right now we are in wave A of wave ii. Within wave A the wave i of wave A seems to be finishing and there is a possibility of retracement in wave ii of A. The idea is to sell at level below wave iv of wave i of A in wave iii of A Short Entry point: 107.15 SL: 107.85 TP1: 106.75 TP2: 106.4 TP3: 106.2
Short
by masood_bakhtyar
BTC:USD 1 hour chart DAILY UPDATE (day 29)This is not a recommendation to buy or sell. This is for entertainment purposes only Yesterday I expected us to break up $9,200 resistance. I drew an arrow up to $9,481 after seeing support hold at $8,800 and a bounce from the 50 day SMA. The daily chart had a reversal doji combined with resistance from the 200 day SMA. If I paid more attention to that then I would have been more cautious with my bullish predictions. We are currently testing support at $8,500. We should bounce from here up to $8,800 where horizontal resistance will be combined with the 50 day SMA. I am still waiting on the sidelines for further confirmation. Following is free!
BITSTAMP:BTCUSD
by Sawcruhteez
BTC:USD 1 hour chart DAILY UPDATE (day 28)Yesterday I mentioned $9,200 as an important area of resistance due to the 0.236 FIB retracement. The bulls made a strong push with market buys but were unable to break through that level. Now we have a shooting star that should cause us to turn back and retest $8,800. If that holds then I would be optimistic about breaking through $9,200 on the next rally. If that doesn’t hold then I will be looking out below. I am still staying away and recommend others do as well. I will be closely watching the areas below for further confirmation before re entering. (1) 0.236 Fib resistance at $9,200. (2) Linear bear trend anywhere from $9,500 - $10,000 (3) Death cross on 50/200 day SMA (1 day chart) - Expect this to be approaching in the next 2-3 days. Happy trading and like/comment/follow!
BITSTAMP:BTCUSD
by Sawcruhteez
BTC:USD 1 hour chart DAILY UPDATE (day 27)Yesterday I expected a small pullback to $8,400 and then had no idea what to think from there. Today I am impressed with the continued rally and I like what I see out of the volume. There is also a potential golden cross fast approaching on the 50/200 day SMA’s. However i would be very careful going long in this area. I expect there to be a lot of resistance waiting from $9,000 - $9,200. $9,000 and $9,100 are established resistance and $9,200 will see resistance from the 0.236 FIB retracement. Then there will be even more bears waiting in the vicinity of $9,500 - $10,000. If we can make it through all of that then I will be comfortable turning bullish and saying the bottom is in. Happy trading and smash that follow!
BITSTAMP:BTCUSD
by Sawcruhteez
BTC:USD 1 hour chart DAILY UPDATE (day 26)Yesterday I was expecting Bitcoin to breakdown to $6,725 and was caught completely off guard when it pumped. I viewed $7,550 as the crucial area of support and once that broke I fully expected it to turn into resistance. I was waiting to short it and we all know how that turned out. I will be staying on the sidelines until I can figure out what in the hell is going on, right now I have very little idea. What I am going to be watching for in the days to come: (1) Established resistance at $9,100. If that breaks up it would be a very good sign for the bulls. (2) 0.236 Fib resistance at $9,300. (3) Linear bear trend anywhere from $9,500 - $10,000 (4) Death cross on 50/200 day SMA (1 day chart) In order for me to take on a bullish position I need to see 1-3 get broken with conviction. If the price continues to pull up and into the moving averages then I will be ready to short a death cross. For today it looks like resistance at $8,800 and the shooting star will push us back to $8,400 and from there it is anyone’s guess. Happy trading and follow for daily price updates!
BITSTAMP:BTCUSD
by Sawcruhteez
2
BTC:USD 1 hour chart DAILY UPDATE (day 25)On 3-15 I drew an arrow from $8,100 down to $6,725 and I expect us to hit that target in the next 1-3 days. As it turned out the price ranged from $7,700 - $8,500 for a couple days before finally breaking support. Now I am watching for $7,600 - $7,700 to turn into resistance. That would provide a favorable short sale entry with a stop loss just above $7,800. I believe $6,725 - $6,775 will be a crucial area of support. It is the longer term bull trend (green line) and it will be the fourth point of contact. Most traders will not even consider it a trend until there are three points of contact, so the fourth could provide a solid bounce.
BITSTAMP:BTCUSDShort
by Sawcruhteez