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Channeltradiung

USDZAR color coordinating analysis1. I like trading USDZAR because of the large movement potential. Same reason I like trading Bitcoin, not because the currency is realistic as a monetary replacement to the dollar. I am, however, in support of block-chain technology because of its utility in health & data storage. NOWHERE on the stock market will you see regular moves so big for maximizing profit potentials (on a swing or day trade basis). I've been trading 10 years, take my word... 2. I like to color coordinate my charts. The GREEN line lets me know where the most recent long-term support is located. I say long-term because this is a 4 hour chart. Movements between tops & bottoms of channels could take weeks or months. As a day trader, a price move taking weeks is "long-term" for me. Technically, its more like medium-term, as a genuine "long-term" analysis would be based off a weekly or monthly chart time frame. The GOLD line is a "short-term" area of resistance that may present a problem for price to re-test the most recent high (The RED line). The RED line is the most recent resistance area (again, based on this 4 hour chart). The purple line is the 1st place I'd be expecting to take some profits, as the chart's history has made it clear that this is a price level that more traders are willing to sell. 3. MY STRATEGY: In most of my posts, you'll see that I mainly trade from tops to bottoms of channels. Selling the "highs" & buying the "lows". I'm not here to teach you how to trade, I'll make videos after I'm done pursuing some personal goals of mine. However, the more you look at my chart drawings & other traders who use trend lines & trend channels, you'll begin to see the simple trading patterns that emerge on every trading chart in the world. I color coordinate my lines so that every few hours or few days, they can serve as land-markers to remind me of where price is, where its been, & where its potentially going. Trading is simple, yet being patient for price to test potential reversal zones is what's difficult. Every technical analysis strategy in the world begins with this foundation. A trader's ability to consistently wait patiently for patterns to form, price levels to be tested, & trade what's seen (not assumed) will be the key to long-term success. A lack of discipline will see a trader frustrated & wanting to quit before they can even see their own potential...thanks for checking out my trades!
Long
by BillionaireTomBoi
2
BTC Long term SHORT, short term LONG.Red lines indicate BTC is set to fall over the long term. Green lines are buy zones where price may find temporary support for some short term profits. With the recent week's price action, BTC isn't seeing enough buyers stepping in at these levels to make a new high yet. This could change if BTC manages to hold above the downward sloping channel (above the top Red diagonal line). If this happens, BTC can be played as a "bull flag" pattern. The simple logic here is to play "buy the lows, sell the highs", meaning green lines to red lines. If you're a technical trader, don't get caught up in the news & gossip. Ultimate decisions by other investors show up in the chart when they put their money where their mouth is. Enter when you see them doing so...
COINBASE:BTCUSDShort
by BillionaireTomBoi
btc pullbackbtc just held the upward sloping trend. i've already added to my position, awaiting a pullback to add more as long as the trend holds.these new shares i've entered will be sold if price cannot break through & hold the top red line. this will exhibit weakness & potential failure of this position, resulting in the upward sloping (green line) trend. a failure of this trend will produce a significant pullback in the BTC price. see my previous charts for how low BTC is likely to drop before going any higher (if the upward sloping (green line) trend fails..
COINBASE:BTCUSDLong
by BillionaireTomBoi
TREND LINES, TOP LINES, BOTTOM LINES, HORIZONTAL LINESYellow highlights shows examples where it broke the line and then reversed. Green checks identify breaking the line and continuing to the next line. Current price is at a level where it can either fall below the trend-line to the next anticipated support line or continue up to the top line. If it breaks the top-line and holds above it, all those horizontal lines which were drawn from price action, are future targets Horizontal lines capture the ebb and flow of regular price action over the course of several days on USD/JPY. The diagonal line keeps track of a top-line as price is falling. Note how price sometimes continues and sometimes reverses when it breaks through a line. Be ready for either! Anticipate the next move. 1. You can draw the line but price doesn't necessarily respect it. 2. When price breaks through a support/resistance line or any other kind of trend-line, there is no guarantee it will keep on going. Project the ascending top-line of a working trend. Track the high, low and middle of a working range. Identify important price levels that are being protected for periods of time. Create divergence giving a foreshadowing of reversals in price action. Identify pivotal points based on averages from the previous period, (day, week, month, etc). A line drawn at the level of a spike in price keeps track of outlier markers for future reference from random* flares in volatility. A line can help you see where the day's trading took place -- Near the highs, lows or right in the middle of the daily range. Just as often, when price breaks through a trend-line, it immediately reverses and goes right back from whence it came. That is to say, when price breaks a trend-line be quick to take the reversals if it immediately fails to hold the new position over the line.
by Tradingstrategyguides
BITCOIN IS... DEAD?Hey Everyone, Happy Hump day! I have read this morning another publication telling me "BITCOIN IS DEAD?" If you search the internet you will see BTC has been declared dead 100s of times, yet it's still trading... And you're still here reading my chart. The only people saying it's dead are the ones who don't know how to trade or what to look for. Right now I see a channel has formed and this makes how I trade so much easier. Channel support sits at $6,287 with that support being vital as it also sits on the long term support in pink. It is more likely that support will hold around the $6,400 mark as the Volume Profile has a larger amount of trades conducted in this range. Upper channel support also corresponds with my previous chart and my Elliot Wave Prediction for a 1st wave in the pattern. The chart shown is a Daily Chart, so if you are expecting the movements shown to be done in the next few days you will be disappointed. If you have a look at how fast the movements have been, it has indeed been as painful as watching grass grow. So what is needed here is patience as BTC slowly meanders into it's new pattern. If that long term support does break I think that could bring a longer and much more painful Bear Market than we have already experienced since Christmas Last year. REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION (minimise your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!! <3 Lisa DISCLAIMER: The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons... PS make sure you give me a like, that way you get updates as I post them.... :) <3
BITFINEX:BTCUSD
by LisaNEdwards
11