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Consolidation-breakout

Will It Return To Monthly High or Keep Sinking?I'm beginning to backtest US30 since its the hot currency pair to trade in my circle. So I'll be posting trades I am currently practicing with all TPs to get adjusted to it. As you notice, I can only trade this thing on the 4hr. moves to fast for me on lower timeframes. Consolidation happened at the monthly high. This is the 2nd time price has visited the area. but let's see this week will we make the drop back down the weekly SR level or will we create a new market high for this pair. Right now, a pullback is due from the breakout it had. From there, we will see where price will go next. BEAR TPS: after pullback 26908 26724 26430 26130 BULL TPS: 27061 27185 27138 27645
FX:US30
by NikaJourney
More SPY consolidationSPY is consolidating on the 1 hour chart. With recent events - air strikes on Saudi refinery, possible war with Iran, Fed uncertainty, etc - I am leaning towards "option 1." Volume has steadily declined since the start of the consolidation which tells me a break out is soon to occur. The RSI has been trending downwards since before the consolidation, which tells me the break-out has a bearish bias. Combine these with all the uncertainty right now, as well as an overpriced market (based on S&P PE ratio), and I believe the break will be to the down side. There is also the problem SPY is having trying to break back above the long-term up-trend. If it breaks below consolidation, I think it's virtually a free fall down to where the initial gap up started. From there, who knows? Maybe the gap will get filled ... I will have to re-evaluate at that time. And, this is all assuming a break to the downside happens. When it breaks (either up or down) I plan on entering an options position.
AMEX:SPYShort
by Bankuur
4
NO BREAK! But SPY, DIA, and QQQ broke...The Russell ETF could not break out of consolidation, but the other 3 majors did break. The Russell - being the major small cap index - is an indicator of risk. When the Russell is rising, investors are less fearful. When the Russell is falling, investors are cautious ... That's the basic concept anyways. I think this Russell chart is showing that maybe people aren't as optimistic as Thursday's rocket ship would have implied. While the 3 biggest indexes broke through strong resistance pretty convincingly, the Russell stayed put ... it tried, but did not succeed. IWM also bounced off its 50 day MA. In addition to that, Friday's close was less than impressive. I'm betting on at least a bearish start to next week, and possibly for the week as a whole. Jerome Powell, yet again, gave no clear-cut direction to the Fed's interest rate plans, leaving the market to wonder what's going on. All economic indications (and technicals) are pointing towards - at the very least - a strong market correction. I think Powell's speech, mixed with the very poor jobs report, put a bad taste in the markets mouth. I bought some TVIX yesterday, because I'm thinking Monday might be a little ugly. Looking at this IWM chart makes me feel even better about my TVIX purchase ... for Monday anyways.
AMEX:IWMShort
by Bankuur
BTCUSD - Key-Levels to watch before break-out! _______________________________________________________________________________________________________________________________________ Hello traders investors and community, today i will have a closer look on Bitcoins price action. We are looking on the 4-hour chart. _______________________________________________________________________________________________________________________________________ As you can see in my chart, BTCUSD is consolidating in a triangle. The consolidation is holding quite long now, normally after such period a break-out will oc- cur, either up or down. In this case the bullish break-out scenario is highly possible. _______________________________________________________________________________________________________________________________________ BTCUSD is trading at around 10600 now after a decent up-move we see a small consolidation. In my chart you can see the support between 9930 - 10100, this is a very important zone for BTCUSD because we bounced there several times in the last days and weeks. It is also an psychological price level, as full numbers like 9000, 10000, 11000 and so on form important price levels for support or resistance. _______________________________________________________________________________________________________________________________________ I am expecting a correction to the range at 9930 - 10100 before an break-out and uphtrust will occur. You can see the upthrust range at 11000 USD, this is the level very many stop-loss will be hit when triggered and a shift up in price-movement. _______________________________________________________________________________________________________________________________________ The correction will be a good spot to open a LONG position, i myself just looking for an entry there. The total first target for this trade will be 12500 - 12750 _______________________________________________________________________________________________________________________________________ Hopefully everybody is doing well with his trades! May all luck come to you friends! I appreciate everybody who takes some seconds to support, more insight will follow! This is only educational information and should not be used to take action in markets. _______________________________________________________________________________________________________________________________________
BITFINEX:BTCUSDLong
by VincePrince
36
Facebook, Holding between ranges. FB- Canary Jones Market Climate: Neutral. Hold. Going-Long. Industry: Internet Services Indicators: None Patterns Identified: Rising Channel Broadening Wedge Facebook stock price has for the better of eight years remained trading within a highly respected bullish rising channel. Similar to other major securities or blue chips currently on the S&P 500 or the Dow Jones, Facebook has recently broken beyond major resistance signifying a continued confidence in the integrity of both the security and of overall US economic health. During this breakout, volatility has significantly increased both abroad and domestically. This can be seen by the developing broadening wedge synonymous to the expansion of market volatility. Canary Jones analysts have identified the broadening wedge of Facebook as a potential consolidating structure. Although the price has re-trended back into the original rising channel, the price has also exited and entered on other occasions. Yet, the stock continues to respect the prevailing macro trend. Although Facebook user activity has remained a challenge for the company to retain high usage and greater amounts of screen time, Facebook has directly taken actions to prevent its consumers from spending exorbitant amounts of time on its platform. This has slightly made Facebook a less attractive advertising alternative to other existing platforms such as Google ads, YouTube, and even now Amazon.com. Facebook’s continuing dominance of online social media has also for the most part created a negative consumer consensus that directly impacts their willingness to continue use for prolonged periods of time. Additionally, a string of data breaches and questionable ethical activities has simultaneously disrupted consumer image of the company and its brands. Facebook’s stock price is currently trending between both the consolidating wedge, and the macro rising channel. This crossover has lead Facebook bulls to being indecisive of both direction and reasonable entry. Facebook bulls should consider entry on the supports of either the rising channel, or the broadening wedge so long as confirmation of candlesticks is also evident.
NASDAQ:META
by CanaryJones
SPY breakthrough?Is the consolidation trying to break finally? I dunno... On the 4 hour, it looks like it just tried to. The most recent 4 hour candle/volume is notated with blue arrows, and the same 4 hour period from 24 hours ago is notated with black arrows. I noticed a couple things: In comparison to the same period 24 hours ago, the volume was light this time. Not only that, but the candlestick 24 hours ago was MUCH bigger (without getting into ticks moved and percentages gained). So, is it trying to break? Or is this going to be another rejection? I'm leaning towards rejection based on volume and tick movement... But I have definitely been wrong before.
CME_MINI:ES1!Short
by Bankuur
/ES bearish outlook - 4 hour short termSame story as the SPY... Looks bearish to me for the short term. It looks like we might move lower from here and test the bottom of the consolidation, then bounce back up to retest the top (red arrow). Or, we might FINALLY breakthrough the bottom and retest the lows from a couple weeks ago (other red arrow). Either way, until something solid happens with the trade war, in a positive way, I have a bear bias for the S&P. If we can break through this consolidation to the down side, I will then look to add to my short position all the way to the low from August 5. Then, I will keep my eyes open and look for a break and close below that, because then the bottom will drop out. However, if we end up breaking consolidation to the upside, I will look to ride it all the way to the all-time highs. At that point, I would be cautious and looking for a double top. Again, if we break and close above the all-time high, I will probably go long until there's a reason not to, lol.
CME_MINI:ES1!Short
by Bankuur
Will the USDSEK Breakout?Last post: See link below. Review: Price was in a bullish trend . Update: Price soon moved into a circa 3-month consolidation . Conclusion: Looking for the current bullish momentum to take price out of consolidation and towards the major round number of 10.0000. We are currently long on this and will look to compound/add further long trades once 10.0000 is confirmed as support. Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments! Sublime Trading
Long
by Sublime_Trading
REVEALING BITCOIN HALVING-CYCLES - 120.000 USD AFTER NEXT ONE?! _______________________________________________________________________________________________________________________________________ Hello traders investors and community. There is an interesting observation which i made and want to share with you today. It is revealing the magic bitcoin halving-cycle in which we seen huge growing of price after the past halvings. _______________________________________________________________________________________________________________________________________ The last weeks we are facing a consolidation period, exactly what we have seen in the past before halving break-outs happened. Before the first halving and break-out BTCUSD consolidated between 2 and 15 USD, after the halving we have seen an enormous growth of 90.52 X before the first major top formed. The same happened after the second halving, in this case BTCUSD made28.74 X after a longer consolidation period in which price consolidated between 160 - 700 USD. _______________________________________________________________________________________________________________________________________ In my chart you can see the red boxes which show the consolidation periods before BTCUSD broke out and entered the growth phase (green-boxes), exactly after the halving! _______________________________________________________________________________________________________________________________________ I am expecting the consolidation period in which we are trading now to hold on until the halving or beyond, after this we will face the next big bitcoin-halving growth period of BTCUSD. _______________________________________________________________________________________________________________________________________ Consider this: We made 90.52 times price-growth after the first and 28.74 after the second halving. Now this gives an average of 59.63 X. Just when we underbeat this mark and make 10 times more after the next halving that would be 100.000 - 120.000 USD. Looking on the information i am expecting a similar growth-period for BTCUSD like the one seen after the first halving. _______________________________________________________________________________________________________________________________________ Okay hopefully everybody enjoyed! May all luck and happiness come to you! For more market insight feel free to support! The information provided is for educational purposes only and should not be used to take action in markets. _______________________________________________________________________________________________________________________________________
BITSTAMP:BTCUSDLong
by VincePrince
26
Consolidation triangle for reversal marketSo after we made some very good shorts thanks to so many resistances its time to decide if the bears have won. Confirmation for reversal market: 1. If we go below 9950 (Symmetrical triangle) and continue the break to below 9850 2. If volume buying power OBV goes below the last low OBV means the buyers lost their volume 3. We already confirmed all the rejections on 4h cloud, sma200, ma200 - too strong, everytime rejected harder... 4. If we go below 9050 it means we broke the descending triangle as well, means we are going to crush towards the first support at 8200... 5. If we won't hold it for enough time then we will see correction towards the 5-7k.... ___________________________________________________________________________________________________________________________________________ * If you like what I do, please push "follow" and "like". * Also if you want live time signals and learn with the community then you are welcome to join here: t.me * If you want to appreciate my work with spare BTCs then you are welcome to send them to: bc1q8kzn0x8j4dmws00ntuhyma8p4c9jwyj0gzxua9 Cheers, love <3 Hedgehog King! ___________________________________________________________________________________________________________________________________________
BITMEX:BTCUSD.PShort
by Hedgehog_king
2
Will 2940 Break for the ES mimi?Hourly Momentum is suggesting that a break is ready to happen today. I will be looking for these indicators to turn south to prove me wrong; they are currently lined up well. Personally, the long was 2924, and at the time of the posting it is too late to enter. Here is some analysis on my twitter feed , and I am now updating it daily!!! twitter.com Find out more why I am biased long but cautious in the consolidation that has ensued; and see the 5d pivot is my line in the sand.
CME_MINI:ES1!Long
by HammondB3
1
This Birdie still has room to Fly....USD/CADIf you back Things out a bit to Daily Chart there is a Nice looking supply zone sitting a nudge ahead of were price has been lately. We currently are sitting in lower timeframe consolidation. Look out for one last push to this supply area before any sort of major change in Direction. Look for shorting opportunities in this zone w/ s/l buffer above top of zone and Profit Trgts can be scaled out to your liking. For my aggressive risk taking peeps look to buy at bottom of consolidation and take profit just before Daily supply Area. Happy Trading Everyone! -Xclusivedad Trading-
by xclusivedad
Time to Hlod on!tl;dr big movement coming. (Isn’t that every other day though?) I started this analysis thinking we would be going up further here, but now I am leaning the other way due to point #5 Bitcoin is on the cusp of deciding its next move, setting the course for the near future. The direction is anyone’s guess right now, so let’s look at a few pieces of information we have and try to get a clearer picture: 1. The volume’s drying up as everyone in crypto holds their breath in anticipation, unsure of the direction we’ll be carried. We know a large movement is coming to carry us either over 13837.96 or below 9778.49 2. Long/Short positions don’t have many answers to offer either. Longs are establishing support at a healthy low level that implies ample upside potential, while Shorts just received their worst beating in history on June 30th and are currently sitting at historic lows. This information is inconclusive regarding direction, but it does show how poised the market is to embrace either choice. 3. Bitcoin is currently circling the 50% retracement from it’s last bubble popping. We are almost exactly at the half way point between the 2018 low and the 2017 high. Bitcoin briefly broke above the next retracement level at 13275 but the momentum was far too intense to be sustainable. 4. Google Trends shows a steady decrease in attention since the recent peak in hype on June 30th. This indicates a following decline from the Bitcoin price. Countering this point though is the fact that the ‘peak’ on June 30th was less than 1/4th of the attention Bitcoin received during the 2017 run-up, as well as the classic chicken and egg debate. 5. This looks and feels very similar to the peak we experienced in the early summer of 2017, both on technical factors and google trends. There was a similar 3-month period peaking with an attempt at 3000 in mid-June. What followed was a fast 30% retracement, similar to the recent one, and a consolidation towards the end of the month before a steady drop down to the 1800s While most of these points only provide a clearer picture of the indecisiveness of the market, number 5 is my strongest indicator that we have further consolidation before continuing our bull run. My main reason for this besides the similarities themselves to 2017 is what I believe to be the reason for the similarities. Human psychology, when hijacking the trading of an asset, has a very distinct signature. It is a bubble signature, and it looks and feels and smells the same every time. It’s not a commentary on the underlying asset. It’s a manifestation of human emotion overriding the market. That emotion, especially in group dynamics, has a readily perceivable pattern that looks the same every time, and financial markets are the easiest place to discern and visualize it. This looks like the early phase of another Bitcoin run-up, and with that, another bubble. I believe we will see the 9000 level again in a few weeks. If this moment is not where that trajectory begins, then I think we have one more leg up before we retrace to that level regardless. Disclaimer: I am a staunch Bitcoin bull in the long-term, as I believe it to be the most trustworthy form of money in human history. I have experienced the euphoria and despair of the last three bubbles, and have come out of each with a greater trust for BTC each time. I enjoy betting small amounts on the short-term movements. All posts are for informational purposes only and should not be mistaken for investment advice.
BITSTAMP:BTCUSD
by avidbrandy
3
ETHBTC has broken a major resistance. Swing traders alert.Hello, ETHBTC has broken out of the yearly resistance and retested itc confirming the former resistance level as a new support zone. There is a possibility for ETHBTC to oscillate between the two major resistance zones before breaking out, giving traders an opportunity for swing trading. The first target would consist of the middle line between both lines. The larger scale targets, for swing trading, would consist of the height of the yearly triangle and its 50 percent and 25 percent lines. If the setup will be confirmed remains to be seen and does not entirely rely on ETHBTC but also on BTCUSD itself. A bullish trading setup would be in place at a break above the major resistance zone which would be a confirmation for a trend reversal on the yearly chart, which certainly would attract more buyers, provided the BTCUSD will act accordingly. In both cases I recommend a top-down and different time-frames method to enter the trade with care. If you would like to read more about this specific instrument please let me know in the comments below or leave me a thumbs up, bringing a big smile on my face. If you would like to know more about top-down and different time-frames method, please check out George Beaulieu on Youtube. I wish you all the best and a good start into July 2019. with patience Heish
by MeruEU