GBPUSDPRICE HAS BEEN CONSOLIDATING FOR 3 AND HALF DAYS NOW, COULD BE DUE TO NFP AND SOO THE REAL MOVE (BREAKOUT) SOON MAY COME.... WHAT DO YOU TRADERS THINK? LET ME KNOW IN THE COMMENTS BELOW....
Consolidation-breakout
2 Possible Outcomes for NowAt the moment we are in a downtrend on short term time frames. We can see the price is currently consolidating within the wedge formation and it looks like there will be a breakout soon. You can view it more clearly on the 15min time frame, but if you take a look at the 1H as well, you can see that we also might be able to retest a descending trendline for the 3rd time before dropping again. Overall, bearish sentiment remains. Let's see how this plays out.
This is NOT a financial advice, trade at your own risk!
GBPCAD CLEANEST STRUCTURE - PRICE MAY CONTINUE TO PUSH UP TOWARDS YESTERDAY'S HIGH TO COLLECT THE FUNDS IT LEFT BEHIND. WHAT DO YOU TRADERS THINK?
Brace Yourselves | Consolidation Coming to an EndSo, this past week was rather flat for Bitcoin in comparison to the previous ones. We saw the market consolidate further up but essentially become flat due to the very important resistance level of 6900. We saw it retest the resistance MULTIPLE times on the lower time frames, and yet, failed to breakout of it every, single, time. Despite the positivity coming from the global markets this week, Bitcoin didn't seem to correlate much within their volatility as it did before. Sellers are still in charge and they are refusing to be fooled by the news trying to say "everything is alright, the collapse is over". No, it is not over, it is merely a pullback before another upcoming dump and Bitcoin investors are well aware of it. Should we see a possible chance of breaking above our consolidating wedge, then we will instantly see a huge wave of FOMO buying power coming into play, which will ultimately boost Bitcoins price higher...but do you really think this will be the case?
CME futures are going to be closing in the next 8 hours of the time of writing this and Bitcoin is circulating around their major resistance area as well for now. A lot of volatility usually comes in before closure time, where we will see huge moves being made by either sellers or buyers, giving us a better perspective of which direction the volatility will head onwards. My bias remains bearish (as stated within the previous posts), and I'll be looking to take further shorts if we manage to reach our resistance levels of 6800-6900 again. Should we see a clear breakout of the ascending trendline and the current level of support around 6400, then I'm afraid it's all going to be downhill from there FAST. Sunday will definitely open up with a huge gap on the CME futures, the question is, are you ready for it?
The mining industry is also looking interesting for Bitcoin at the moment. As soon as the mining difficulty dropped by 16%, we instantly saw the BTC hash rate pump up from 75m TH/s, all the way to 113m TH/s. I guess everybody turned on their farms again once they saw how much lower the difficulty dropped. Normally this is a positive sign for the Crypto markets, but we didn't see it react to that point as much, which further gives me these bearish insights.
Either way though, let's see how we close off this week. I will keep this post updated if anything changes.
If you found this post useful in any way, feel free to leave a 'Like', it will be highly appreciated!
This is NOT a financial advice, trade at your own risk!
SHORT TERM LONG, LONG TERM SHORTTECHNICAL/CHART ANALYSIS:
1. As seen by the orange triangles, USOIL is currently in a short term consolidation on the hourly chart.
2. On the daily chart it is just coming off of the RSI oversold level, and the MACD signal line is being crossed (both typically bullish indicators).
3. It seems to have found an intermediate support at around the 20/21 price level, which it has bounced from twice.
4. The MACD and RSI are both showing bullish divergence on the hourly chart as shown by the black lines.
5. Volume has been gradually decreasing over the last few days, showing signs that the aggressive selling is over for the near term.
6. First support/resistance level at around 28. If it breaks past this level, the next support/resistance will be around 33/34, which I don't think it will break through. Fibonacci retracement confirmed both of these support and resistance levels, as shown on the chart.
FUNDAMENTAL ANALYSIS:
Fundamentally, USOIL does not have a good case for two primary reasons:
1. Global shutdown due to the corona virus, leading to a significant decrease in demand for energy commodities such as USOIL from both businesses and consumers.
2. After the corona virus was clearly making a negative impact on global oil demand, the world's largest oil exporting nations (OPEC) met to discuss cutting production levels to help prop-up oil prices (decrease supply to increase prices). Russia was defiant to cutting their production any further as other nations, such as Saudi Arabia, pushed them to do. OPEC ended their talks with no agreement. And not only did they not agree on further production cuts, they disbanded the previous production cut agreements, leading to a significant increase in supply as all oil producing nations became free to pump as much oil as humanly possible, thus increasing the supply by millions of barrels a day. Some speculate that Russia left the bargaining table at OPEC intentionally, as they have the lowest break-even price per barrel compared to any other nation. They also have been building up their cash reserves over the last few years. Saudi Arabia and the US have much higher break-even prices, so the price war may be an attempt to bankrupt Saudi and US oil companies. The reason I mention this is to point out the fact that Russia has shown no signs of changing their minds, stating previously that they would be able to withstand oil prices this low for years. If this is correct, don't expect any significant trend reversals any time soon, oil can still go a lot lower if OPEC doesn't come to a deal.
***NOTE*** No, I don't expect the price line to follow my lines exactly. I don't have a crystal ball, but the point is SHORT TERM LONG, LONG TERM SHORT.
PLEASE MAKE SURE TO LIKE AND FOLLOW FOR MORE.
DXY H1 ASCENDING TRIANGLEDXY has been rallying since last week amidst the Covid Crisis. Will we see a break to the upside or more further consolidation?
Please do leave your thoughts. Thank you.
BTC Being Squeezed Into A Corner?Hey Folks,
It's been a while since I published an idea, but I have not been away from Crypto at all. In fact, I've just been very busy behind the scenes, intensely studying the charts and watching the Crypto space, and the world in general. So let's get into it...
Today, on my BTC/USDT daily chart, I noticed two trend lines which I drew (In red) - the one going all the way back to December of 2018, and the other to June 2019. What is now significant to me about these two lines, is that they not only culminate in a wedge formation sometime in early April 2020, but after the sharp fall of Bitcoin's price three days ago, the currency now seems to be looking to find some kind of footing and direction going forward. And what do you know, if what I'm observing plays out, the price action may be squeezed into a corner - perhaps very close to, or in the first half of April 2020.
As the more experienced traders among you know, a scenario like this usually results in Bitcoin going into consolidation mode for a period of time. This, combined with the two intersecting trend lines, could sometimes force the price into a very narrow band going forward, before eventually erupting in either an upward, or downward direction. The million dollar question is, in which direction will Bitcoin eventually go?
As always, these are my own ideas and not financial advice of any kind, I am merely sharing one of perhaps many possible outcomes. I would truly love to hear your opinions, your ideas - if you see something different than what I presented here, please leave a comment below. Let's help each other become better traders by sharing your ideas and opinions in the comments below
EURUSD 1H DEMANDThere are 2 demand zones in the H1 TF for the euro. Only 1 tipe of situation has to happen for this to become valid (see the arrows). If that doesn't happen..... forget it
Green energy portfolio: where it all startedAfter 9 yeas of consolidation $ICLN built a trading range with a series of higher lows and has recently broken out on monstrous volume. Institutional investment is written all over it. This ETF serves as my bias for starting a stock portfolio based on environmental sustainability. The shift to green energy is an undeniable trend that I'll eagerly follow, along with smart money flowing into it.
Two scenarios: parabolic (green line) and slow (blue line).
Price target based on P&F count: 28-30$. Most likely much higher.
trilogy frm 2600-2660; bracketing a marketIF the market breaks higher than 2394, THEN long
IF the market breaks lower than 2310, THEN short
WARNING : this is my trading journal, not indicator of buying or selling....
LONG - BQX - Trading OpportunityLooking like this consolidation retest is about to burst.
Entry: 0.00000510
TP 1: 0.00000548
TP 2: 0.00000592
TP 3: 0.00000646
SL: 0.00000484
CryptoCue is not providing investment advice and is not taking subscribers’ personal circumstances into consideration when discussing investments. Investment involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire position.
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BTTBTC: Market in Accumulation phase BTTBTC: Market in Accumulation phase.
Note: This is only for Educational purposes; this is not investment advice.
Thanks
Adil Khan.
LONG - NULS - Trading OpportunityConsolidation right before a breakout of this diagonal resistance.
Entry: 0.00003622
Target 2: 0.00003918
Target 2: 0.00004195
Target 3: 0.000044563
SL: 0.00003422
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CryptoCue is not registered, licensed or authorized to provide investment advice and is simply providing an opinion, which is given without any liability or reliance whatsoever. The information contained here is not an offer or solicitation or recommendation or advice to buy, hold, or sell any security. CryptoCue makes no representation as to the completeness, accuracy or timeliness of the material provided and all information and opinions provided by CryptoCue are subject to change without notice and provided on a non-reliance basis and without acceptance of any liability or responsibility whatsoever or howsoever arising. You hereby irrevocably and unconditionally waive, release and discharge: (a) any and all accrued rights and/or benefits you may have against CryptoCue in respect of any opinion expressed or information conveyed by CryptoCue at any time; (b) any and all Claims you may have against CryptoCue arising out of any opinion expressed or information conveyed by CryptoCue at any time; (c) CryptoCue from all and any claims (whether actual or contingent and whether as an employee, office holder or in any other capacity whatsoever) including, without limitation, Claims you may have against CryptoCue arising out of any opinion expressed or information conveyed by CryptoCue at any time. ("Claims" shall include any action, proceeding, claim, demand, judgment or judgment sum of whatsoever nature or howsoever arising.) You hereby agree to indemnify and hold harmless CryptoCue in respect of any and all Losses paid, discharged, sustained or incurred by CryptoCue in the event of bringing any Claim against CryptoCue. (“Losses” shall include any and all liabilities, costs, expenses, damages, fines, impositions or losses (including but not limited to any direct, indirect or consequential losses, loss of profit, loss of earnings, loss of reputation and all interest, penalties and legal costs (calculated on a full indemnity basis) and all other reasonable professional costs and expenses and any associated value-added tax) of whatsoever nature and/or judgment sums (including interest thereon).
Awaiting Consolidation Breakout in SESea Limited (SE) is one I already own from near $38.
While I already own this one, it is nice to see it still pop up on my strong stock scans. It is performing well, and another pop above $47.52 could set up a short opportunity for a run into the $50. It blows through that, I will utilize a trailing stop loss with the next target near $53.
Already long. May add IF the price breaks above the current consolidation.
Price Is Approaching The Key Level.Price is almost at key level after being in consolidation.
Looking for a fakeout down for me to buy a sell candlestick..
Good buy for 40-60 pips
Consolidation | GBPAUDRecap from last week...
- If you look at Daily , candlesticks have exhaustion area signaling the Market is not ready to reverse down quite yet
- Its likely to Consolidate before breaking to continue to upside or break downward
- One thing about GBPAUD and GBPNZD , when in consolidation, it likes to fake a break-out so be watchful
- Its not advised to trade in consolidation unless you know what your overall analysis is, thus you can take short profits
- Will be updating once the market opens
Disclaimer: ***This is not a signal, just an Analysis to share my view on the market.If this if helpful to you, please comment***
{SWC}--IFCAMSC--Breakout from short term consolidation!Thank you for your continued support :)
Strategy: Consolidation Breakout .
Bias: Bullish. Prominent volume kicked in today and breakout from the triangle consolidation zone at the price of RM0.445. IFCAMSC share price successfully crossing up 5 & 10 EMAs with the surge of price with significant volume. The next resistance could be faced is RM0.480/0.485 zone, which potentially will be hitting the short term downtrend line too.
Once the downtrend line is broken through huge momentum, the next zone should be physiological resistance RM0.500.
R: 0.480, 0.500
S: 0.445, 0.425
If you find this idea helpful, don't hesitate to drop us a like and comment! Happy trading!
Weak Markets Don't Linger At Resistance. Bitcoin Is Not Weak.#Bitcoin continues to hold its higher prices which can be interpreted as BULLISH. All it needs is a catalyst to squeeze to the next major resistance in the 9K area. We continue to hold 1/3 of our original SWING TRADE position which triggered back in December, for its third target in the low 9Ks. The purpose of this evaluation is to share our insight and perspective as it relates to the actionable information derived from the ORDER FLOW of Bitcoin. Evaluating order flow offers practical clues about short term market intent which can be used to gauge general probabilities around specific market scenarios.
1. IF price decisively breaks 8325, and follows through beyond 8500, the low to mid 9Ks are likely to follow relatively quickly (short squeezes like this often unfold in a matter of hours thanks to short margin liquidations and new buyers).
2. As long as price can stay above the 7600 area, the minor consolidation breakout has a greater chance of occurring. A close below this higher low support can take price back to the 7K minor support zone. This is all about "IF" not WHEN.
3. There is a major resistance around the 9500 to 10,200 area. This zone is the HIGHEST risk, lowest probability location to take on new swing trade longs (but a great place to take profits). Usually AFTER the move takes place, people ask, "Is NOW a good time to buy?" which my response is, "Where were you at 7250?". There was a week and a half of noise and even cheaper prices following our long entry back in December. Think in probabilities, NOT LOGIC.
4. 7275 to 5464 still represents the HIGH probability location for bullish reversals. This means IF there is any revisit, (especially to the 6550 area), we will view this as another opportunity for swing trades and inventory accumulation. Price may not revisit this area again any time soon.
5. Although short term bullish momentum is now in play, we do not consider this market free of the corrective consolidation that is has been in since the June peak. Lack of follow through is still is still an equal possibility and our profit expectations will be adjusted in this way UNTIL Bitcoin proves otherwise. In other words, we will trade this like a Wave 2, until Wave 3 is in play (which requires a break of 10,300 AT LEAST).
6. The fact that price is lingering near the 8500 resistance area is a typical sign of strength (weak markets do not linger at resistance levels, they sell off). This minor consolidation break out can also prompt an alternate trade signal to go long upon the confirmation of a momentum continuation pattern like an inside bar.
Keep in mind these points represent part of the rationale that our decision making process is based upon. Timing markets over the short term requires knowing what information carries actionable value, and organizing it in a way that allows for a better sense of how ORDER FLOW is LIKELY to BEHAVE next. Order flow refers to price action based information that is either present or forward looking (trend lines, S&R lines, chart patterns, candlesticks, etc.). In isolation, this information carries little to no value and is why so many inexperienced traders dismiss it as "useless" and say things like "outside bars don't work".
Context and perspective come from knowing how these individual elements come together to define a range of REALISTIC outcomes. Overall, charts provide a record of human behavior and when part of a group, this behavior offers pockets of predictability, which can lead to opportunities for those who can identify the risk associated with these pockets.
3010 -3140 ranging level-hourly chart timeframeAs you can see, the price ranges frm 3010 support level(tested twice) and was rejected 3 times near 3140-3150 level, confirming current resistance right at that level...
If price breakout frm 3150, THEN it will further challenge 3190-3200 level...uptrend continues...
If price breaks lower than 3010 critical support level, THEN it shall go back to 2930 previous support level...(this is the previous resistance level which now acts as support)...
so let's see which direction does it go in this new year 2020...
pls kindly leave a comment if you find something interesting...
plan your trade and trade your plan, traders....gud luck and gud trading...
High Growth Stock Setting up NicelyThis is a high growth predicted company for 2020 and setting up nicely after completing a reversal. I'm long here and targeting 12 area as next resistance if it picks up pace here.
How to trade in range/consolidation periodA lot of people asked me what to do in the case when the price is stuck in consolidation.
You can use Fibonacci retracement and create a range (0, 0.25, 0.5, 0.75, 1) and put it from swing low up to swing high. By that, you will create key points where the price will react on during consolidation time.
You can use it on all Timeframes and it does not matter if it is Monthly, Weekly, Daily or minute chart.
As you can see here, price very nicely reacts to each of our levels which we have set up once the range has been established. Also, when the price is stuck in consolidation range you do not want to trade it. Avoid it. You will make many mistakes, rather you should focus on a clear bullish/bearish trend.
