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Bearflags

The Actual Golden Cross Hasn't Happened Yet - EMA50/EMA200Good day Traders Bitcoin price action has been showing exhaustion for the past few days now so not too surprised that we finally corrected. Perfect timing for the tether FUD to act as a catalyst again, although this time things are a bit different it seems. If you recall in October 2018, when Bitfinex lost yet another banking relationship, everyone piled out of USDT into other stable coins, and apparently into bitcoin, spiking BTCUSD to $6750 in a matter of minutes. This time round there hasn't been that rush into BTC, in fact quite the opposite, maybe people are starting to become immune to tether FUD after the upteenth time! The New York Attorney General seems to be on Bitfinex's case about a $850 million shortfall which was covered using tether holdings, although this is all narrative yet again imo unless Bitfinex is actually in financial difficulty which I find quite hard to believe based on recent trading volumes at the exchange. Most traders have been watching for the daily SMA50/200 golden cross when this actually gave us a false signal in 2015 on the 1st attempt with price crossing back below both moving averages after the first attempt before finally crossing months later. I believe we have the same situation today. If you go back to 2015, a more reliable golden cross was actually the daily EMA50/200 . Whereas SMA50/200 had a failed cross on the 1st attempt, EMA50/200 hadn't actually crossed on that attempt, instead we had EMA50 kissing EMA200 before dropping back and the only cross we had was the actual buy signal. Today, we currently have EMA50 kissing EMA200 but we probably won't have the golden cross just yet for a few months to come imo. Looking back we seem to be printing a large bear flag with a flag pole reflecting a 63% drop from the pole height to our 2018 lows. I suspect we have 3 options here depending on which support holds, although I still believe the 3rd option is most viable: 1) Bitcoin drops back to and finds our uptrend support around $3800 before going on to print a higher high. 2) Bitcoin drops below our uptrend support back to the trendline resistance turned support from our ATH, somewhere around $3300 before breaking back above our prior uptrend support and the $4-4.2k horizontal resistance. 3) Bitcoin breaks down from bear flag support. The target is based on the same pole height from the recent $5600 resistance which gives us a target of around $2k. From $5k, I think we head back to our $4-4.2k horizontal support for a failed retest. After $4k doesn't hold, $3800 will probably not hold either and we'll head back to support of our main trend line from our ATH which we broke above in March, to somewhere around $3300. We should bounce from $3300 back to our $4-4.2k horizontal resistance and flag support turned resistance, in the process printing a right shoulder of a larger H&S pattern which will have us targeting $1850 - $2100 after breaking neckline support. Both targets coincide with strong horizontal support around $1850 and a 1.214 fib extension of the flag pole height, although we could potentially have a 1.382 fib extension wick down to $1k with enough sufficient panic since we only had a 38.2 fib retracement recently. We also have strong sell signals on the daily NVT, the weekly NVT, with no buy signal yet, and we're just about to have a bearish DMI crossover with strong ADX trend! Good luck and happy trading! Here is the 2015 scenario. Notice the EMA 50/200 cross, the 1.272 fib extension, the NVT buy signal after bottoming, and the 60% drop from bull trap highs :
BITSTAMP:BTCUSDShort
by Corn_Reaper
9
LONG TERM TRADE POSSIBILITY. 1400 PIPS. looking at USD/CAD weekly & daily you can see we've had a previous bull flag pattern which ended in a large push to the downside towards the end of June 2017. We have been seeing another bull flag pattern forming ever since which has now reached around our previous high of may 2017. comparing both structures we look as though we are coming close to another melt especially with momentum looking to be slowing down. I will also be adding a more short term analysis on this pair which I believe also indicates a push to the downside.
Short
by KYEJ4CKSON
SHOPRITE GROUP LIMITED (SHP) SHORTPrice has been moving in a descending channel, in a series of impulses and correction, and we can expect prices to continue to move to the downside. There is potential for short term long entries due to an inverse head and shoulders pattern, which is a reversal pattern, but first price has to break the neckline and this will give us confirmation to enter especially if there is a retest. My bias is bearish as price seems to be forming the corrective part of a bear flag pattern, and conservative traders can enter on the break of the flag support to the downside, whilst risk-seekers can enter positions on the resistance level of the flag position. It would be even more safer to wait for a rejection of the descending trendline which makes up the channel support before placing any short positions.
JSE:SHPShort
by munyaelliott
MEDICLINIC (MEI) DAILY TIMEFRAME LONGThe price for this share is currently moving in a series of impulses and corrections, typical of a healthy market. This pattern has created a series of lower highs and lower lows (downtrend. In order to execute a short position, traders have two options, depending on whther they are quite risk-averse (conservative) or risk-seeking: (1) Enter on the resistance of the correction channel (bear flag) (2) Enter on the break to the downside of the bear flag (correction channel), that is when the support of the channel is breached to the downside. Do not try to buy this market, as the fundamentals must be very bearish as shown in the price action. Remember, never try catching a falling knife!
MShort
by munyaelliott
GBP/AUD 1H Bear Cypher @ 1.84000After hitting resistance of bear flag that pair is potentially forming on weekly It has now formed Bullish Three point correction wave, representing a Bearish Alternate ABCD pattern on 4H time frame. and Bearish Gartley on 4H as well Looks very bearish so far. Now,best thing about all this is that pair is currently forming a Bear Cypher pattern on Hourly opening up a very nice oportunity to short this pattern with extended targets well beyond my set target 3 on the chart. What do you think lads?? Looks Good?? Or Not??
Short
by TheDailyTrader_FX