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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
AUDUSD trading In A Three-wave Setback; More Gains Can FollowAUDUSD did not move much recently, so our view remains unchanged; we still see pair making a corrective set-back in wave B which is now trading into some interesting Fib. Support zone with sub-wave c, here at 0.7579 area. We think bounce may occur from here, but keep in mind that wave C leg may occur only if price crosses above 0.7620, which would be a confirmation of a completed c wave. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
by ew-forecast
3
DASHUSD Next Buy Points for break outDASHUSD DashDollar We got stopped out of the long from 305 at 599 which was cruel considering it bottomed at 596. Just bad stop management - should have lowered it to cover the lower parallel but didn't pay enough attention in truth, so busy with those other 3 favorite girlfriends to pay this enough time. Bad. And got punished for that lapse. Back on the trail: the continuation pattern is clearer now. There are two posible entry points here: 1. On a break of the upper parallel, confirmed by a push above the blue line above it at 638, looking to buy on the first minor pull-back with stops kept under the parallel. 2. But Dash is now in a vulnerable spot, trying to break above the old dynamic support line from the lows which is now acting as resistance...If this continues and Dash falls away from the old dynamic stopping it now there is a good chance it will fall back to 606-595 range again. If so look to buy here with stops below 590/adjusted to below the lower parallel, unlike the mistake made above, with a little luck. But if Dash can break above this old dynamic and then the resistance immediately above it, it would be a real show of strength. Follow it as per 1st option.
BITTREX:DASHUSD
by sumastardon
Example of a Support and Resistance lines.I want to show with this example how the price in a lateral movement oscillate in ranges between supports and resistances lines. The target is the following, if the price bounces on a resistance, make a short until it reaches the support level. If it bounces on a support, make a long until it reaches the resistance. If the price breaks a resistance, make a long until the next resistance level. If it breaks a support, make a short until the next support level. Sometimes a price level can behave as support and as resistance, this indicates that it is a strong level.
Education
by heco08