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Bitcoin BTCUSD Watch out for potential Head and Shoulders hereBitcoin BTCUSD Update If you got long again at the ridiculous hour of 11.30 pm est you're hard working and deserve your 400 points reward. Weirdly the crypto chat room was quite quiet with a guy from London waiting for the BCH burst to top out so he could bail out and fade the consolidation. London's finally catching on. 2018 will be so fascinating and fast moving. It's good for competition, good for spreads and good for us therefore, in time. Now, finally people are taking BTC very seriously. So many Bitcoin jobs to be created now. How long for though? No one can answer that one for us but if anyone will know in advance it will be GS. And the chart. Until that day comes we ride this like nothing has ever been ridden before...in the entire history of speculation. Ever. We are alive for it. Wow Right now Bitcoin is trying to track huigher but is, weirdly, being contrained on the upside by an old parallel from way back in the mists of time (hell, it's 14 days old - that's 2 years in FB time!) - and yet it's clearly back in play once more, stopping the rallies. Another nice day in prospect for day traders but not much for others right now. It's trying to hold a newly forming little parallel off yesterday's lows and needs to keep holding up there or we have a danger of a head and shoulders forming here off the top, with a neckline at 15809 and a minimum downside target at 14210 if it gets broken. Time will tell but right now this is not a very strong pattern, except for day traders. Unless you look to short if head and shoulders gets completed later on, as above.
BITSTAMP:BTCUSD
by sumastardon
2
Gold XAUUSD and Dollar Index DXY UpdateGOLD and DXY Gold and Dollar Index Update DXY did come off from where it was meant to last week but has put up more than just a fight so far in the 92.74-92.50 range. The fight back was to be expected, but it's doing better than envisaged so far here - and these conclicting signals urge caution now ...no interest in getting involved in a battle of whipsaw here but will look to back the winner again here when one emerges...DXY has gapped up today, double bottomed and left a pin bar lying around in the space between the two blue lines of fixed support shown on chart...bullish signals. But it's still trapped within the parallels which are trying to force price lower. Something has to give here soon. ...A break above the upper parallel would be the next bullish signal from DXY - look to get long DXY on the next retest of the parallel from above, once broken to upside, and get long USDEUR and short Gold on this development too. On downside DXY has to stay under the upper parallel for the bears to keep control from here - then they have to force DXY down to fill the gap today at 92.89 and then push it below 92.55 again for DXY to turn negative again from here. As it stands the bears are beginning to lose this battle, not enough fire-power to force DXY lower from here by the look of the chart. Early hours of this battle, still, but increasingly the bulls are beginning to wrest back control here. Confimation will come when the upper parallel is broken and survives the next retest. At that point we look to short gold (if signals there are not already given) and get long USDEUR.
TVC:DXY
by sumastardon
BCHUSD Continuation pattern and key break/buy pointsBCHUSD Update Near Term and Break Points Near Term BCH ran out of upside momentum, double topping at 1461 though this level was actually briefly exceeded, snapping at any bear stops just above it before fading, and showing first quite big red bull engulfing candle off the high of the day...mild rejection, not hot but not cold either, except in very near term - what looks like a continuation pattern is now being hammered out and will likely have further to run yet...3 strikes on the lower parallel shows it's not 'hot' and has to unwind some more, likely recoiling from 1413 - when tested (and almost certainly from the two lines of dynamic resistance waiting just above price to clip any nascent rally in the bud at 1425 now) ...looks like it's a sell one more time from 1413-1426 range and a reverse long at 1351 ideally, or off the lower smallest parallel that this little continuation pattern is running in now. Break Points An eventual break above the upper smallest parallel that holds back price today should be followed (usual drill on breakouts) for a rally to 1620-1638 minimum and 1766 maximum in near term On downside: A break below 1347 would tip BCH from neutral to negative in the near term triggering a short back to 1286 and if this was to fail to 1245.
B
by sumastardon
2
CFI 7mTo Infinity and beyond. BK all day!!!!! Thank you. I got a 1 on 1 on with you @ Wednesday 3pm. Cant wait... Strangely enough, that happens to be exactly the same time that Indahash starts phase 2 of their ICO .. (Hmmmm...synchronicity?>>>> "The charts make the news"-BK I'm pretty new to charting but its awe-inspiring how strong their effect really is. These are companies with employees, and customers, yet they're subject to laws they are not even aware exist. On a weird note... Imagine if human beings have charts? What do you think would symbolizes moving averages in our lives so that when their paths cross, we start to grow? Peace and Love, 9 Lives
C
by AmreElsayed
Dash/Dollar: DASHUSD Entry levels/Strategy ReviewDash/Dollar DASHUSD Strategies Reviewed Time Always Tells The 2 possible entry strategies yesterday gave one great result and for the other the jury is still out. You'll be familiar with the story about the old bull and his boy out on the range: the young bull sees a herd a beautiful looking cows in the valley below and says: Dad, look at those babes...that one looks like Adriana Lima! Let's get down there and...you know the rest. That was Dash yesterday - don't chase, it might just come to you and eat right out of your hand. Sure enough some smart traders stuck a few lazy orders down at 302 (entry was actually placed just above the break level/previous spike low on Thursday at 302.8 but it looks to have come down to 300 low) - and then ripped 57 points or 20% in a near straight line in less than 6 hours...makes Bitcoin look quite tame at the moment. That was the good choice, the older, calmer way to go. The other choice was follow the break-out above new structure at around current prices now, 338-342. Then we have to keep an eye on price action to see how it behaves after the breakout, obviously. And here, it has to be said that follow through is lame, so far. We're in a weekend too. We can see those two spikes that have recently formed, showing quite strong rejection from just under 360, so am concerned here that if it breaks back down below 335 now, it will likely fall away on lack of buying interest to 318 at least and quite possibly it can spike down to 302 again before it rallies...this break-out has failed, so far. That's what the chart is saying, and Dash needs buyers now to push it higher still, otherwise it will start to fall away. So need to put a tight stop under this, if long and day-trading, at 328. If hit, then put a buy order in at 305 with stop just under 296 and see if it gets filled. Longer term The sloping head and shoulders pattern here is similar to the one on Facebook, in this case with a minimum upside target at 453, with the most likely points of resistance on the way marked on the chart. It's good medium term. But be careful of whipsaw between 302 real support and 340 reistance in the very near term. It's a good tradeable 10% range for day- traders once 330 gives way...that's where they're most likely to step in on short side, so use stops, looking to get long again from lower down if 330 gives way. Moral of this dumb story: sometimes it pays to be cool and calculating and sometimes it also pays to follow the herd and play momentum breaks. But a momentum break needs careful watching over on the day following the break: did volume spike on the break out? Has it had follow-through? Are there any scary pin bars forming showing quite strong rejection at higher levels...? You knew all this anyway. Don't trade on hope. Trade on what the chart tells you. If you can manage to master this Zen-like state, you are free. It's not you. It's the chart.
BITTREX:DASHUSDLong
by sumastardon
Bitcoin: BTCUSD Update and Buy Points Bitcoin: BTCUSD Wednesday Update and Buy Points Is there an X man who doesn't need to sleep? That's what we need to be to keep on top of Bitcoin. Still feisty, still full of fight, just when it looks like it might be settling down a little it snaps back again. Tried shorting from 8060, looking for 7800 before reversing back long again - just before spotting the acute parallels that Bitcoin was now trapped beteeen. Too late! Parallels mean continuation, even if as steep as these. The last update from midnight GMT mentioned this point and that breaking back above the upper parallel would mean that Bitcoin was turning bullish again, and then had to grab some sleep. If you were brave enough to then go long again on the break and retest of the upper parallel, well done, especially if you kept your nerve during the ensuing 3 hours of trade as Bitcoin came back to a spike low at 8050 before rallying. That was a tough 3 hours for day traders looking at price action in the aftermath. Notice how the parallels that contained the move down saw just 2 strikes on the lower parallel? It's been mentioned before but bears repeating: two strikes on a lower parallel is a sign of real impending strength to come...but it was too late in UK by then to stay with it. Sorry for that. Swing traders and long-pull holders with stops left low under 7700 as advised are unscathed. Hoping we can raise stops here soon, but need to leave them quite low for now and keep them out of harm's way. So now the next challenge is find the next entry point for day traders not already long again on the break above the upper parallel - it was so tricky at that point there's no point in beating ourselves up about missing it...fixed support lines proved to be useless for the second time too - the last low also - we just need to understand the last move for what it was and move on to the next trade... Right now Bitcoin has regained the high line at 8245 and is using it as support, creating a small flag. Need to watch and wait awhile and see what shape Bitcoin makes next. Overall it's still very positive and once this battle for consolidation at the highs has been won bitcoin is likley to surge much higher still. So am not looking to try shorting from here though it looks quite tempting. Prefer to look for an entry to get long again. We may get a chance from lower down later if 8220 gives way to sellers, otherwise on exit above the upper parallel of this tiny flag from today's highs with stop under 8210. More as the move develops.
BITSTAMP:BTCUSDLong
by sumastardon
4
CRB Index: TRJEFFCRB Useful Back-up for Gold and Oil tradersCRB Index Commodities Index: TRJEFFCRB The CRB index - Back-up Confirmation for Gold and Oil Trades. It's useful to know which way the greater wind blows before setting sail. This wind is with the bulls and has been off and on since June. It's making a nice trend of its own, grinding away each bear in its path until 195.62 is reached - up about 2.5% from here. Do not consider shorting gold, oil, silver or copper aggressively until 195.62 is reached on this index, except near term scalping raids which will carry wiith them all the risks associated with trading against a trend. Even the deftest of scalpers will need their A game to make much from shorting, and will likely have to move fast to bag any profits. Any bears with a medium term view are going to get crushed. Can therefore only turn aggressively bearish of Oil once the lower parallel channelling this impulse wave is broken on downside. Then you know the greater wind is turning and it's finally time to change tack and start selling rallies again. This index has a look of latent strength behind it - 195.62 will not hold it back for long. Once passed it will rally another 5 points or a firther 2.5% to 203.6. Then look for the wind to change and at least a 2.5% fall back to 195.6 again. Get this medium to longer term idea of push and pull and you can make some very good returns. Good trading to the 3 wise men who bother to read such arcane research. You will do well. Never so sure about the rest though...
TVC:TRJEFFCRBLong
by sumastardon
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.
BITSTAMP:BTCUSDLong
by sumastardon
Bitcoin: BTCUSD So close to slamming freezer on this nowBitcoin Update Update from 20 minutes ago, embargoed stopped out of last trade for 50 point los, and up to 100 if looser. It's finding support and building pin bars off the blue old resistance line from the old highs. Should stooge around a little longer, moving between 7830 and 7719 before likely moving up again. If 7719 gives way between now and early on as far Eastern markets open it should find support off the recent highs at 7510 and off the lower big parallel too. looks more likely, as the pattern stands now, to move sideways off 7719 line, turning old resistance into major support, should it continue to hold as envisaged. So it's a buy now and over the next hour or so. And if this level holds, you can probably call it the freezer lid. If it holds, Bitcoin is finally tagged, bagged and now so close to having the freezer lid slammed shut. If we see this price action evolve over coming couple of hours only then can we maybe claim the trophy. If so, let it ride, lock the freezer and hide the key and let's see where it takes us. We only need to worry if 7719 gives way. Well done. So close now to throwing away that key. Stops need to be uder 7700 as if it fails it should test 7570 where it becomes a buy agin with stop under the parallel.
BITSTAMP:BTCUSDLong
by sumastardon
1
Bitcoin: BTCUST Need to raise stopsBitcoin: BTCUSD Hate raising stops before China opens, especially after yesterday, but it could be that it gets sold off to begin with. If so look to buy from lower, having locked in profits We are long from 3 buy points today: !st was the break and hold above key resistance at 6950 (after closing out a 230 point gain as this level was hit and then losing 50 points on the ensuing short from the same level) 2nd on first touch of the lower parallel at 7090 (stop 50 points lower) 3rd on the break above the continuation pattern highlighted earlier today at 7170. Need to put a stop under some fairly hard-won gains and also put a limit level on for exit, if we see it, before the stops get hit. The stop on all positions can placed just under 7200. Bitcoin has been good to day traders again, pinging off support and resistance lines, though the lows were 13 points higher at 7090 than we could have done with as the perfect entry point if 6950 break had been missed earlier. That spike off the 7346 resistance line is the first for a while and so it could be that when far Eastern markets open it could get sold off...if so, look to buy back at 7134 and below down to 7090 with stops under 7060. On the upside, providing we don't get stopped out first, we should look to exit at 7540, or just under.
BITSTAMP:BTCUSDLong
by sumastardon
Bicoin: BTCUSD Reverse head and shoulders now clearerBitcoin Update The reverse head and shoulders pattern is clearer now.. Right on the breaking point now and therefore vulerable to a failure here...but it looks good so far... Because the H and S pattern is clearer it also gives a clearer measurement target on the upside once 7425 is beaten: 77333 is the minimum measurement implication of this break, if and when it occurs so it should be worth following. It would be helpful if it came back to 7350 (if 7350 gives way at any point it could spike down to 7290 -7280 at absolute worst so we have be wary with stops, not to get taken out of a good position on a spike - the worst feeling in world, being right, but still losing money...that is the worst kind of pain, the worst kind of loss. Better to be outright wrong!) Still a battle going on at the neckline now ...if it now breaks higher from here, obviously that shows real strength again...follow it. Otherwise we wait and see if we can get in from lower down at 7350, maybe even 7300 on a spike (put in order in and see if it gets hit...this is what causes those pin bars!!!) - but we'l have to leave the stop below 7250 to begin with if struck to avoid getting hit. Otherwise we trade breakout on upside when it comes. Good luck and be careful with stops!
BITSTAMP:BTCUSDLong
by sumastardon
1
Alphabet:GOOG Long term and short term targetsALPHABET: GOOG THE Alpha Bet Google goes on and on, creating a wide pair of parallels as it pushes relentlessly onwards. Only the Regulators can stop them. If Bitcoin's your favourite girlfriend, Google is your mum, (or should be, with Facebook as dad). Looks like Alphabet should push higher towards 1075 where the upper parallel waits to repel it., or at least halt its advance for a while - and what's good for Google is good for world markets usually. (Nasdaq, next comment, is poised to rocket 280 points provided it opens up and moves higher from the open, as looks likely at moment, barring disasters between now and Monday open). Over the longer term, in a year's time, Alphabet should be trading between 1450 and 1500, slowly grinding ever higher, and likely still within the long term controlling parallels shown on the chart. Stops for long term holders can be raised to just below 950
NASDAQ:GOOGLong
by sumastardon