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BTGUSD Coming into the first support/buy zoneBTGUSD Worth waiting for: now coming into the first suport zone at 274-261. Put anorder in at 263 with stop about 10 points lower. Or at 270 but think it should spike down to 261 - that entire 13 point zone is full of whipsaw and pin bars, even to 10 points lower, so the stop needs to be at least 249.It should get a bounce to 319-330 area. And plan B in febrile markets: If 261 gives way this is coming all the way back to the twin dynamics shown on the chart at least and potentially to 157-150 major support. If this happens it becomes a short again with stops above 274. Then will have to see how it behaves at the parallels, may bounce and then fail. Excellent, it means a retest of the lows, easier to hit it at 157-150, if we happen to see it. Remember anything can can happen. It's way wilder than the wildest the West ever was. We just hit buttons instead of triggers. And way faster too! Say that one quickly.
BShort
by sumastardon
5
BCHUSD Buy points on weakness coming upBCHUSD This looked crocked yesterday. What happened? Don't need a weatherman to know which way the wind blows. A chart will do that for us. Should come back to 1180, maybe spike to 1124. This is what we've really been waiting for isn't it (you were not long, were you anyway) So sling an order in at 1180 and leave the stop below 1124 or put one in at 1126 with stop below 1124 by at least 10 points. Maybe it will come all the way to you, and no further. It needs a full flush. Maybe we'll get one.
B
by sumastardon
Brent Crude Oil: UKOIL Trade Set-ups for this weekBrent Crude OIL UKOIL Trade Set-Ups for this Week Position: Flat - Just didn't trust this short after it bounced at 61.70 first target and then started to build a near term low at 61.33 so closed out the short for just over 100 pips after spreads, as per updates to last comment. Disappointed at the time to close out a trade that had stopped behaving according to expectations. Not so disappointed now though. Brent is now testing the original break-down level at 62.88 after a high one pip higher on Friday. The zone between 62.88 and 63.10 is a treacherous range, full of uncertainty and potential whipsaw - a difficult spot to trade...it should fall away from here, but that behaviour at the highs doesn't look bearish except in very near term: a tiny flag is forming and Brent can be shorted here with a stop above the upper parallel, all the way back down to the lower parallel where the position should be reversed on the first touch, flipping back long again here, with stop 30 pips below the line. The ideal entry back long would be at 62.30 with stops 30 pips under. Continuation patterns like the last one - and potentially this one too - usually only have two touches on the lower parallel before moving higher, the second touch coming quite late in the pattern, and ideally, for bulls looking for clues, leaving a few pin bars off the lows (see last continuation pattern for comparison). So it's a buy on the next touch of that lower small parallel (stop 30 pips under) for a move back to 62.88-63.10 where look to close out if this trade works out. Then look to see if Brent can start to build a base at 62.88 as we move through Monday into Tuesday... We need to watch out this week coming for any such price action and follow with longs again if we see it develop, looking for another move up to 64.16-64.25 range initially and thereafter back to the upper parallel once 64.30 has been broken on the upside. Good idea to split this into two trades. On the downside, first support for Brent is that small lower parallel creating the near term flag - at around 62.26 if hit early on Monday morning in far East and as low as 62.04 if it comes later in the day - but there should be only one direct hit, as with the last pattern and ideally it will leave pin bars on the 1 hour chart. All bullish indicators that can be used to prepare new longs. Barring a brief shake out from currrent levels, as above, Brent will have to move below 62 to flip back into serious bear territory from here, triggering aggressive shorts down to 61.70 at least, and potentially to 61.33. But whilst that little flag holds, upside is more likely this week coming.
FX:UKOILLong
by sumastardon
Bitcoin: BTCUSD Update - Breakout could be soon nowBitcoin Update Bitcoin is still trying to grind higher, now testing critical near term resistance at 7717 where the fixed and dynamic resistance lines meet on the chart. Even if it's low volume, this breakout, should it occur at any point, should be followed for a move back to 7990-8000 where look to close out and short (only if day trader) with stop 50 points above 8000. Bitcoin is unwinding an overbought condition reached on Friday by trading sideways right at the top, in the space you'd expect a very strong stock to consolidate in. It's not been sold off really, not recoiling as it would do if showing underlying weakness at these levels. ..at some point it's going to beat 8000 by 20 points, could even be this weekend, and when it does it should be followed with stops about 100 points under 8000. But in near term it will likely fall away from here...don't sell it though unless you use a tight stop above the upper parallel. Wait, watch for the break to the upside. Be Lucky
BITSTAMP:BTCUSDLong
by sumastardon
Nasdaq Biotech: NBI A good low risk buy point coming up tomorrowNASDAQ BIOTECHNOLOGY INDEX: NBI A good low risk Buy Point Coming Up Range trading between the parallels continues as it has done since last year's election low. It' looks like it should fall back to 3267 where it becomes a buy again with stops just under 3250. It should make a strong rally from here back up to 3575 for about 300 points gain, with the first level of resistance at 3344 (close out first long here). A subsequent move above 3344 will be very positive for this index, taking up to 3435-3444 range before it falls away to 3380 at which point it should move higher to the 3575 target - at which point it becomes a short again If this long call from 3266 is wrong, it means that the lower parallel that has guided this up-wave from inception is also failing, an extremely bearish outcome should the stop at 3245 fail, signalling a move back to 3168-3148 range (and a complete reversal of positions into near-term shorts) where this index becomes a strong buy again.
NLong
by sumastardon
USDJPY long opportunity coming up.Plenty of support showing up on the daily after a Bullish Bat completion. Targets one and two on the chart for that pattern. If the Bat fails (0.886 retracement of XA), then there's also a Bullish Alternative Bat (1.13 retracement of XA) and Bullish Crab (1.618 retracement of XA) in the making. All of this is made possible by the close to 0.382 retracement of B into the XA leg, followed by the less than 0.886 retracement (0.793) of C into the AB leg.
Long
by JamesBrown
2
The Coming CrashThe stars are aligning for a pretty serious pullback in the US Equities Market. The chart uses my two favorite indicators; RSI and MACD. I've gone through and marked historical correlations on the chart for prior crashes for both indicators. RSI going above 70; signals overvalued RSI going below 30; signals underbought MACD Converging (Red) MACD Diverging (Green) You'll see both of these correlate quite nicely with the two previous crashes. **Projections** I project a between a 30-40 percent pull back spanning nearly two years. I've added a possible short position with a fairly tight tolerance for a good ratio. I'll keep the chart updated in case we're looking at a false-top; given present valuations and P/E ratios I don't think we are.
AMEX:SPYShort
by pete.j.jensen
5