Breakout of the consolidation in the context of pullbackBreakout from the consolidation within the current pullback. My stop loss is under the pullback's low; the closest profit target is the high of the pullback.
Consolidation-breakout
Breakout from the consolidationConsolidation was tightening up, so I decided to go long with a short Stop loss under the low of consolidation. Profit target is around Sep 21 highs.
(posted post factum)
*Actually the trade reached 1:2 R/R ration and turned around rebounding from more recent highs (Oct 31); if I watched the trade at the moment, I could set the stop at breakeven, I should've had more realistic targets and adjusted the size accordingly.
Where is BTC going to go next?After creating a new structure low, BTC has been in a consolidation phase with a bullish Gartley in the midst of it all. We are not in a bullish rotation yet as the previous outside return has not be violated.
BTC price could oscillate within the wedge (white arrows) or could break out of the wedge and form a potential channel (light blue dotted lines) If BTC breaks out of wedge and reaches top of the blue dotted lines, I will look for double top entry on the lower time frame to enter as the R:R is very good, even if target is just the bottom blue dotted line. Stop loss would be a close above the previous outside return ($4526). Automatic SL trigger would be 1ATR above the $4526.
Bigger picture view (1D), $3000 offers a attractive support for BTC. BTC currently trading between previous congestion zone, looking left.
Couple of scenario to look at.
US 30 ?Bear Flag forming Again? May be EW4 in downtrend- Danger!JW if this 3-day rally is another fakeout, has earmarks of a bear flag rally, very hard to call a bottom yet, consolidating, fluctuating.
Trading at area where price has provoked bear reaction, the EW model suggests we might expect retest of lows, and possibly a lower low.
Filling the gap down from 249 was expected, top of the gap = pivot & resistance; breakout above this level would signal a move up.
Bulling up through 250 would invalidate the model as 4th wave shouldn't break above low from 1st wave.
This isn't investment advice, just an idea, trade at your own risk; GLTA!
Trend Continuation - GPYJPY in a descending triangle!Good afternoon Traders,
This is a very simple trend continuation trade.
We see a previous impulse the shows very strong bearish momentum. Price is now consolidating in a descending triangle, which is a hint, that price might continue lower.
A stop sell order below the trendline support is a possible entry.
Also, I've drawn the fib. extension lines and the 0.618 level confluences well with the low on the daily chart if you scroll back.
Happy trading!
Kaetea Ng
Break 21eMA $303.75 Mth + 9eMA $304.50 DConsolidate/Buy Opp into eMA 4 Long-term Swing
Missile/Defense Budget Zero Party Bias
Recent Pull back creates buying opportunity with Break past $300, to the eMA Lines mentioned (for conviction), NOTE Heikin-Ashi Candle Potential Sentiment/Swing Trade Setup on Daily Chart
#tekmunnee Strategy would be to play Long Shares, if Options, At The Money or near Strike out 6+ Months
My Optimistic Case would be to test ATH, and Potentially $385 Target as a Swing Trade
Historically, Congress, has zero political bias on Military Spending
Hyper-sonic Missile Threat is Critical for USA and Pentagon Funding supporting expansion and expediting as Russia has deployed & India has technology + Capability to deploy.
BONUS: Barron's Cover Story Pump 11/3/2018
$RTN $NOC benefit from Missile Spending
AUD/USD Long Setup - Bullish divergence on H4 using stochastics
- Breakout of the consolidation zone and mini channel on the H1
- Supported by monthly key level if price decides to retest the consolidation zone once again
- 90 pips target with 45 pips stop loss
USDJPY(1D): Consolidation Before A ShortUSDJPY
Timeframe: 1D
Direction: Short
Confluences for Consolidation Period:
- At support of Medium Term Trendline (established since March 2018)
- Price action hovering at 61.8% Fibo line of Recent Highs and Lows
- Overlapping of Oversold Stochastics
Confluences to Watch for a Sell
- Bearish candle formations
- Stochastic Overbought momentum wanes (if it reaches those levels)
- Crossover of 8EMA and 50EMA
- Break of Medium Term Trendline (established since March 2018)
Suggested Trade:
Price Action is likely to consolidate back upwards towards 112.48 - 113.27. Those levels are opportunities to sell USDJPY.
Entry @ 112.48 - 113.27
SL: 114.66
TP: 109.69
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
BTC 10th OCT 2018 - Signs For Bullish MoveHuge move for bitcoin expected. Those are my main TA sign for a bullish move
1. Double Dip in RSI & $ price ($5750-$6000).
2. Consolidation, BTC went almost stable.
3. Curve trend movement, correction seems done.
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Very buy, because expecting it would go much lower, might be the new wishful thinking in this.
Stay positive, buy the future, dont see it as an investment only.
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#doggonacci
USD/JPY Short Setup - Bearish divergence on the H4 using stochastics
- Price seems to be rejecting the major daily resistance level of 114.33 and started to consolidate on the H1 before breaking out this zone to the downside
- Could see price heading towards 113.00 as it fulfils the fibonacci 38.2 level on the D1 as a well due retracement after consecutive bullish moves
Bitcoin Cash - sideways movement or bull pennnant Hi BCH is forming a decent sideways movement seen on the 4-hour chart.
There is support on the 100 and 200 EMA and it could be the correction of entire Elliot wave count.
LONGS could be setted up here with Stop Loss under the bull pennant.
RSI is in the neutral zone that means we can go higher or lower (by RSI definition ;)
Enjoy
TRYZAR Symmetrical Triangle. Get Ready for a breakout!Symmetrical triangle usually forms during a trend as a continuation pattern. so there is a higher chance of breaking out to the DOWNSIDE
XRP is in a decision of indecisionFor XRPUSD look for consolidation between .50 and .60 and wait for a break either way... maybe above the top red trend line or the red 61.8% level to the downside.
Buy stops likely placed above the red trend line or sell stops placed with a 61.8% Fibonacci break to the downside.
Major consolidation breakout setupIn the last consolidation breakout I posted I gave a 5 hour window for a breakout. Perfectly in the middle of that, 3 hours after posting, we got the huge drop from 7450 to 6950 on August 4th.
Now we have an even bigger setup for a breakout, with a smaller setup inside it. Our major trend lines converge 12 hours from now (01:00 UTC, 28/08), and our minor trend lines converge 5 hours from now (18:00 UTC, 27/08).
We've set alerts to execute longs if price crosses above the green line and shorts if price crosses below the red line, with these lines set just outside of our consolidation range. If we get a fakeout and price reverses we will be exiting at 6718, the tip of our minor green triangle. Otherwise we will be looking to ride a breakout in either direction for a 2-3 hour period and then re-assess, expecting heavy support/resistance around 6530 and 6890.
STM Buy sign from 2 months of consolidation - retracement.NYSE:STM
* CCI showing buy signal for STM.
* RSI basing for uptick.
* Fib retracement indicates bounce coming as STM has shown zig zag resistance push for awhile.
* Zig Zag consolidation breaking out
Tech stocks ready to recover, unless you make AMD GPU's. Sales are up over last year.
3-yr EPS growth 98% and ready to break 25 with right conditions, but easy up from 19.57.
Zach's comparison to NVDA www.zacks.com
Viewers make own conclusions.
BUY ECHO on pullbackECHO has a zacks rank of 1 (strong buy). It pulled back to the 61.8 Fibonacci retracement level on the wick of a bullish candle. It is also consolidating around this price level. it has also closed above the 20sma.There is definitely some historical resistance overhead, however, I believe it can break above this level due to the fact that earnings have been doing well over the past couple quarters. It has experience a strong reversal and has a lot of potential. although this may be true, there is always a possibility of things not going our way so I will continue to move my stop loss up.
Tentative Possible Completion of SPX WXY Corrective RetracementPre-called 2802 and saw it touch today. There is strong support on upper channel trendline; doubtful we will see retest of lower channel line, barring catastrophic geopolitics.
Expect more turbulence and consolidation at this level just above support in the 2810 - 2840 area for a week or so; eventually should breakout thru strong R at 2640.
This is not advice and Im not an advisor, it's purely an educational post. Good luck traders!
ETHUSD - Is it too Late to Join the Downtrend?ETHUSD
Ethereum seems to have only two phases: consolidation and acceleration.
It is important to notice that in all the consolidation periods, the green moving average has been a good resistance and a good level to open short positions. I except Ethereum to go below $300 in the next days and the best price for a short position is around $330.
ADAUSD - Cardano Consolidation Phase after a Bearish BreakoutADAUSD
Good opportunity to short Cardano right below $0.13.
1. The setup of the moving averages is turning bearish;
2. The price broke the up-channel;
3. The price is in a consolidation phase after a strong down-movement.
Next Target: $0.11
A clear consolidation are pairs been consolidating for a while now, its forming a bull flag. i can also see lower high but not higher highs . i see a clear strong resistance ( might be some bank or hegde fund or someone with big money to push the pair down) but soon they will run out of money and the chart will just go where there is least resistacne ( my guess is up).
i might be worng so its better to w will have a good RR.
XAUUSD Long/ShortIf price can break 1358 id be looking for longs.
if price can break below range 1310 id be looking for shorts
