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Brent Crude Oil: UKOIL Brent is back in the Buy Zone HereBrent Crude Oil UKOIL Back in the Buy zone Well the stop on the short from 63.77 never got hit and Brent duly came off back to the first target at 63.10 for a small 65 pip win - but should have held it longer as it then went on to test the lower parallel of the flag, bang on 62.17 support at the same point in time, and has since rallied much more strongly than anticipated last week, taking Brent right back up to the old highs at 64.25 before falling away again. (My bad here for getting way too involved with Alt/USD's last week and ignoring this complex in the resulting maelstrom) Anyway, Brent looks OK...Look to buy around current values down to 63.00 with stops at 62.88 for small loss if wrong from here. First upside target is the highs at 64.25-64.61 range - (can close out here if you want) but be ready to get long again on a move above 64.65 for next stage of rally up to the upper big parallel - close out here if struck and look to short with stops 30 pips above the parallel on first touch.
FX:UKOILLong
by sumastardon
BTGUSD Back in the buy zone againBTGUSD Was banned for 24 hours for posting a text wall yesterday so was unable to update this - which was a pity because that little continuation pattern running down the parallel when we left it was so well defined, just backing and filling - it needed a new line over the highs as it ran down the parallel to redefine the perfect trigger for beakout... and when it came it was excellent quality, big green bear engulfing candle, again, all the things we want to see when trading a breakout. Not allowed to get to this to update, the trigger here was left at 308 for a move up to 320 minimum...in fact it shot though here and spiked into the top parallel over a 3 hour period at 339 ...from al ow at 280 to a high at 339 in 6 hours - 20% in 6 hours! Unbelievable what these can do in such a short space of time. Now it's a buy again on any dips back to 300 - it should rally to 320 minimum again and more likely to test the same larger parallel at around 330 now that it hit earlier today before coming off again
BLong
by sumastardon
BCHUSD Tracking new parallels and grinding higher againBCHUSD Buy dips again but keep an eye on Bitcoin This produced one of those perfect breaks today that all traders love...the trigger was a break above the smaller continuation pattern back down towards the lows at 1400 - the minimum target was 240-258 points higher at 1620-1638. The high of the day was 1638. How many managed that? Top trader today if you did! So now, having just lost 10 points going long at 1540 it looks time to try again here. This movement sideways has shifted BCH from under the bigger parallel that was halting advances last Thursday at the same highs as today, creating a minor double top - at the same time the pattern has shifted so that BCH is now tracking a loosely defined pair of parallels with a good strong pin bar violating the lower line and then a series of smaller pins around 1479...but on upside it's testing resistance at 1517 up to 1539...look to buy dips to 1482 and down to 1461 if touched (put orders in, you never know (all stops must be below 1455 for now). It should grind forward again, using the lower parallel as supoport/buying opportunities towards 1618-1638 and then, after another pause, on to 1707 and 17766. This is good whilst within the parallels. Bad if and when if loses the lower parallel. If at any point we see this close out all longs and consider shorting on next pull back towards the parallel from below, once lost - don't think so , but we need a plan B in case as Bitcoin is frisky and the fate of BCH is pretty much dependent on BTC from here.
BLong
by sumastardon
1
BITCOIN: BTCUSD Baxck in Buy zone with stopsBITCOIN: BTCUSD BITCOIN: BTCUSD First, if you got long on the eventual break above 10000 the target was 10436 so we should be flat again. If you bought the double bottom we were hoping for - at 9472 - well done. The real price action on 30 minute chart shows that 9400 and just under is where the real action is centred but it was imperfect and so difficult to nail down and so if you got close to it, well done you. But would advise taking profits if still long now...it's probing resistance just under the 10000 line again and is vulnerable to set-backs whilst still under this level. We are looking for entry levels again, ideally from another test of 9479-9418 range if we see it with stops under 9360. At all costs 9200 must hold up today on all challenges. Should it fail at any point Bitcoin will turn very negative again, falling back to 8343 and potentially to 7798 at worst. This cannot happen whilst 9300-9200 holds up - but we need to be prepared in case it does, is all. It shouldn't but it could. It's Bitcoin, we need to remember this, every day. So if we don't get another retest of the lows then the blue support line at 9715 will hold price up and it will then try to break above the dynamics hanging above it...the big number at 10000 is waiting there just above price too, now. So surmounting all this overhead resistance power will not be straightforward, most likely. It can move down to make another triple low at 9470-9418 where we buy with stops under 9360 or it can move sideways for a while until it can escape the power of those overhead dynamics...a day trade for now selling off 9848 line and buying off 9718 line...any break of 9700 should send it back to the lows/buying zone. And any break above 10008 - once free of the overhead dynamic resistance lines can be followed. Bitcoin is still not out of the woods yet. It has to hold up at 9300-9200 all day on all challenges to make that claim stick from here. We may yet see a good short develop if 9200 gives way Open minds. it's Bitcoin. Yesterday's Trades reviewed At some point Bitcoin was going make a Fibo and the classic number in FX markets is 0.618%. Bitcoin's .618% from the low of this run at 7880 to the high at 11395 is 9218. The low was 9250. Close. We want it become a major currency. Yesterday it behaved just like one. In addition the trendline supporting Bitcoin for the longer term, and shown earlier was in fact at 9241 at the time of the low, just 9 points below the actual low. This was my mistake and not the chart's - should have taken more care over the precise line. My bad made worse by Tradingview doing some upgrade which stopped updates for a while, right in the thick of the action, too. So spent all day yesterday trying to catch the proverbial falling knife: two buy points smashed through and 140 points blown, maximum in the maelstrom. There was a small 85 point win along the way but those brave enough to run a wide stop under the 9300 buy point were rewarded with a fast 700 point plus gain which was sold at 10000 level and just under. Then we were looking to enter long again on a break above 10000 for a move up to 10436 where profits were to be taken. This process lasted until 1.30 am (GMT) when finally Bitcoin, after a long 2 hour period messing with heads, found equilibrium at 10000 and then confidence began return and the upside target was struck for another 430 points profit if you managed to stay the course with it. Like landing a leaping marlin: Hard work, but ultimately rewarding. So sorrry was abed when it happened. Missed a great trade there because, being human, have to sleep sometimes. Unlike Bitcoin which never stops and costs so much in lost opportunities as a result. But it's the only downside Bitcoin has (so long as 9200 holds up from here, at least).
BITSTAMP:BTCUSDLong
by sumastardon
5
BTGUSD Back in the Buy ZoneBTGUSD Update This has been a good reliable short once the dynamic support gave way, as per comment from Monday. Now it's back in the buy zone so shorts get closed out and reversed long with stops under 318. Short term target is the falling dynamic around 350 where some day traders will reverse once more for another short with stops above the dynamic. Pin bars of rejection off this line shows it's still strong. Price will then need to break above this line and hold on any retest to trigger the next long from here. On the downside major support lies close by at 319. Any failure to hold here over the coming days would be extremely bearish for BTG signalling another good shorting opportunity back to 260 at least, and potentially all the way back to 156.
BLong
by sumastardon
BCHUSD Now in the buy ZoneBCHUSD Back in the buy zone now A little burst of Dollar strength on back of DXY touching near term support at 92.62 has seen all the alts v USD weaken. BCH is now coming back into the buy zone, either from 1539 if touched or alternatively on a break above the dynamic from the highs.There have been two minor spikes through this line but both have failed. We want to see some buying power emerge and green candles as it breaks that dynamic and to hold up on any retest. It;s getting very close now...be ready for it. Stops need to stay under the dynamic by 20 points or so when the break occurs.
B
by sumastardon
1
DXY: Dollar Index About to turn back downDollar Index DXY Update The dollar is still in a medium term downtrend and currently making a small continuation pattern inside an inverted flag before falling away again. It should halt here at 93.78 and at very best as it reaches 93.99 and spikes into the upper parallel controlling this little consolidation period for the dollar. Gold becomes a buy at this point, looking to increase long positions aggressively on a break below the lower small parallel of the inverted flag. DXY should fall to 92.75 -92.62 range where will look to close out XAU longs, only going long gold again once 92.62 breaks on DXY. Look to use the dollar counter-rally as an opportunity to build gold longs, turning aggressively bullish once that lower parallel gives way.
TVC:DXYShort
by sumastardon
Gold: XAUUSD Back in the buy zone for next swing higherGOLD : XAUUSD Update Continues to grind higher on a weakening dollar. It's a nice trade if you get the push and pull here...loads of bears who haven't looked at the dollar (muppets), they are the guys going to keep buying us dinner. The dollar is just completing a another failed counter-rally and this has pulled gold back into the buy zone again around the blue line on the chart for the next push higher to 1290. Then let it go again but only to 1284 and then buy again for bear-mangling surge to 1305 where it becomes a big short again with stop 3 points higher.
FX:XAUUSDLong
by sumastardon
Bitcoin; BTCUSD Breaking to upside . worth following nowHaving totally blown most players clean out of the water with the biggest fake out in history, it's getting ready to go again - if you are. .. it's come back to exactly the same levels that the Chinese were buying at last night...7077... put a buy order in at 7090 with stop about 50 points lower and it may get filled later on if it comes back to make a double bottom first before it kicks higher again. If it does and 7077 holds up the first upside target is 7415, so about 300 points upside and 50 down, if struck and not stopped out. Otherwise, the safer strategy is to wait until key resistance for the near term at 7430 -7340 has been overcome and then look to go long on next pull back towards 7430 with a stop justunder 7390 for a 40 point loss before spreads if wrong, but 400 points potential upside. In nearer term Bitcoin is trying to rally from the start of today's structure at 7077 and then flipping down again at the 50% mark half way of the day's range. So it's now stuck in the weak half of the day's range, and, interestingly, is flipping within the same support/resistance lines drawn only notionally about 6 days ago now and yet still exerting some real power over short term swings if you've been watching this. Only once it can get above 7430-7440 should it calm down some and start to regain it's equilbrium and be worth following, as above - otherwise we need to see a double bottom forming off 7077 on the next retest to risk going long, as outlined above.The support lines have worked well so far, with a fall below any listed level leading to a test of the next listed level pretty much wiithout a miss so far, which is plain weird, but untilthey they stop working... as above, 7077 is the important support for the near term and into early tomorrow - if broken it falls to 6928-6920 which is absolutely critical support forthe more medium term (in Bitcoin time short/near term is 1 to 4 hours, medium term is 1 to 2 days - it's a parallel universe, forgive pun) and so if last-gasp support at 6920-6900 gives way at any point all long bets are off the table fast - it should lead to a collapse back to 6312 at least and quite possibly back to 6165 on a spike at which point althe structure shown on the chart will have been blown away and we can start to build again. But that only happens if 6900 fails, at which point it becomes a compelling short.it's been a hell of a day and it ain't done yet. There's 3 more hours to go- and Bitcoin's still up 190 points on the day so far. Thought we had this thing in the freezer and every time it gets back out wielding a chainsaw: Jaws on crack with Scarface's personality traits. That was Bitcoin today. And other days she can be so sweet natured. Back on the hunt.
BITSTAMP:BTCUSDLong
by sumastardon
2
USDJPY SHORTUSDJPY after the quick movements from bottom edge of range to top edge, backed to bottom edge and again moved upward to top, finally went upper but it stopped at last local high appointed in 6 october 2017. Price has backed from this level to the range. We are expecting that price could back to the bottom of range so we have opened short inside the range. Target is near the bottom of range. Stop is a few pips over last high. If price will go upward and will go higher than last peak, we will consider long with target near resistance zone at 114.30.
Short
by investsoft
ICO trading - SANUSD Part 1 - Buy alertRecently listed tokens can make good trading candidates. Everything you need to know is printing on the daily charts. A low was formed and two previous days were counted backwards to enable green line to be drawn to the right hand side. This is count back line analysis being used to identify a buy signal. A buy signal is a close of the daily candle above the green line. At the moment SAN is on my watchlist. Awaiting confirmation of an uptrend forming. Higher lows printing daily candles is encouraging. SAN has recently been listed on Bitfinex exchange. I found this interesting as they have so few pairs listed for trading. Bitfinex have this week announced devlepoment of a new exchange for trading ETH and ERC20 compliant tokens. So I now expect the next announcement to be that this exchange with partner with SANTIMENT. That could see the charts pop! Stay tuned for part 2.
SLong
by deanbyronbay
Bitcoin: Back to the highsBitcoin: Another test of the highs underway. This comment is already a little out of date - written and thought it was uploaded yesterday but some glitch and was out so never picked up on it until now. Doh. Anyway, the call has been good so far, so see no reason to pull it even if a little late now - it should hopefully complete the final part of the rally today. Suggest closing out longs at the top though and brave bears can short again from there but with a stop just 10 points above the highs.
BITSTAMP:BTCUSDLong
by sumastardon