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BTCUSD - End of Correction? Bull Trap? Opportunity!Is this the end of the correction or is this a bull trap? We don't know yet. Nevertheless, it's worth a shot. Bitcoin is showing new strength by breaking 15000$ resistance level with highly increased volume. This is also the bullish confirmation of a symmetric triangle pattern. Depending on future movement this could be a short-term trade or the opportunity to build a long-term trade. Because of this I entered at 15000 with 10% of the maximum amount I'm willing to bet on Bitcoin in the long run. I only consider opening trades that show a risk:reward ratio higher than 2:1. Time to do some math: Target: 19000$ Entered at: 15000$ Stop: 13299$ Risk:Reward Ratio: 2.35:1 Good Luck. Disclaimer: I'm a relatively unexperienced trader, so don't consider this investment advice. I'm mostly here on tradingview to improve my trading skills. So don't hesitate to give some feedback.
BITFINEX:BTCUSDLong
by HFBN
GBPUSD Triangle PatternAfter multiple touches on the flip line and forming of triangle, there are 2 possible scenarios for this pair: it could break the flip line downward reaching the 0.382 fibonacci level and bouncing on the support line or breakout could occur upward (in this case we consider valid the 0.5 Fibonacci level). In both these cases we chose as target the higher horizontal line!! Great chance to profit entering a trade with RRR 5+ and tight SL! Always wait for confirmations!
Long
by c_cap11
Entry Levels I Am Watching For A ₿itcoin Entry or ExitThis is a short term play I am watching for good entry, I will either add to the long I have been riding the last 24 hours or close it and pull open a short once either of the levels listed below cross. ₿itcoin BITFINEX:BTCUSD is very Bullish but as a day trader I ride multiple positions daily based on its movements. Riding a Bullish position has been one of the easiest things to do lately. That being said I am watching to either add to my long or close it and open a SHORT TERM short at these Bitfinex BITFINEX:BTCUSD levels: For Long: SOLID break out above $13,983 , WITH $13,897 being where my alarm to watch momentum indicators is set. I have moved my current stop loss to $12,681 which puts me well in profit, I will adjust the stop as the support moves up. For Short: This is where it gets complicated, I DO NOT RECOMMEND OPENING ANY KIND OF SHORT POSITION IN THIS MARKET , but what I am looking for is a break BELOW the ORANGE curved line . (parabolic support) That is my running support on this local move that will determine my position, at that point I close my long well in profit and watch for the next support breaks (plural) shown in RED. (also watch the BB for any movement on the bottom) If the momentum and strength indicators show weakness on MULTIPLE time frames then I consider opening one. My stop on the trade would be just above the Parabolic support and I will allow it to hit with very minimal loss on the short. This is the most sound advice anyone can give you on a short. Keep an eye on this candles close pattern below on the Bitfinex 4 hour which closes in 20 minutes as of this writing, the formation will tell me everything on the direction of our future price movement. Anything in between these levels for the next few hours is a NO TRADE ZONE unless you are already holding a position. I am big on waiting for confirmation on positions so I highly recommend you do the same. At this point I am very Bullish on BITFINEX:BTCUSD for the year, but this is a short term watch as a day trader.
BITFINEX:BTCUSD
by Nick_Core
4
Possible FLAG Pattern on Monthly w/ additional Harmonic - LONGPossible FLAG Pattern on the Monthly with additional Harmonic It seems we have a confirmed breakout of structure on the Monthly as well as a FLAG pattern that seems to have been formed. Additionally, it seems there could be a pullback during the next couple of months, if a Bearish Cypher Harmonic Pattern is to be confirmed. Two directions are possible in this chart, marked with RED and WHITE arrows, however both are ultimately BULLISH. TDI Shows upwards move with the RSI line providing above midline, bouncing off the midband on a narrow band channel. Ketchup EMA is now about to cross the Water EMA which is also an entry signal. All in all, Gold is set to increase in value, in my opinion, similarly to the increase we are experiencing in the cryptocurrency area, as the US Dollar is being purposely devalued (in order to help the US Manufacturing Industry, amongst other factors)... See here for more details: www.worldstopexports.com As the value of the US Dollar reduces, the value of Metals increases. I have now entered a LONG on this position and will set this trade to long-term for maximum profit. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
FX:XAUUSDLong
by UnknownUnicorn661419
Big Pharma MERCK & CO in SERIOUS TROUBLE !FUNDAMENTALS: Merck & Co seem to be in serious trouble after a 'Big Pharma Bombshell' where Federal Judge Beth Labson Freeman of San Jose finds Merck lied in patent trial to both a business partner (Gilead Sciences Inc) and lied to the court itself, overturns $200 Million verdict ! (Re: hepatitis C Drug). Source: LA Times Article here: www.latimes.com Court Document here: assets.documentcloud.org Judge Stated "Merck's misconduct includes... misusing Pharmasset's confidential information..., and lying under oath at deposition and trial" - Federal Judge Beth Labson Freeman. One example of this was "The edvidence examined by Freeman strongly suggests that Merck flagrantly manipulated the patent process to gain unfair advantage." - Michael Hiltzik, LA Times. AND "Adding to the temerity of the big drugmaker, it originally sued Gilead for $2 billion before having to settle for $200 million. Now, pending appeal, it won’t get even that much for its patent claims, and its reputation for integrity will carry a value of less than zero." - Michael Hiltzik, LA Times. TECHNICALS: (Daily and Weekly Charts) A Gartley pattern has been confirmed and completed as well as breakout from major structure, providing the start of what seems to be an Elliott wave 2 structure in it's infant stages, after completion of a correction and a failed Wave 5 at the top of the chart, where major resistance is located. This initiated Elliott wave count suggests a long-term bearish trend for the pharma company down to significantly low price that would normally be expected. Ketchup, Mustard, Water and Mayo EMAs have all been breached by the price action as well as TDI showing hints of continued downward movement. Monthly chart also suggests we are at the start of a Bearish Intermediate Wave 1 which does not look good for the pharmaceutical company. However, that being said, this is a FANTASTIC opportunity to SHORT the absolute crap out of this stock, in my opinion I see quite significant Profit from Shorting this stock on a 3 ~ 6 month term, possibly even longer if the wave count is confirmed as described on my chart. I'm shorting this stock on the breakout of structure, where most likely this will occur on market open with a GAP. In my opinion this will be a huge profit maker as I'm expecting this bearish price action to continue for significantly long period of time. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
NYSE:MRKShort
by UnknownUnicorn661419