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Litecoin/Bitcoin: Cup and Handle Or Double TopCurrently, Litecoin/Bitcoin looks like it could either be a cup and handle or a double top, in this idea, I will represent both possibilities. The Cup and Handle: In yellow, the cup and handle can be seen with the resistance at 17752 satoshis, it has a price objective of approximately 24908 satoshis derived by measuring the height of the cup. The to the handle resistance and the handle is noted by the yellow diagonal line. Although this looks very similar to a cup and handle pattern, this has strong reason not to be: first , the volume is highest at the bottom of the cup, where in a standard cup and handle, the volume is suppose to decrease as price decreases this is circled in light blue. Since volume is such an important factor to determining patterns, in most situations I would then assume the pattern is not valid, however, Litecoin has been one of the strongest cryptos so its possible for it to retest the neckline. The Double top: The bearish situations are represented by the purple lines, and it can follow the appropriate direction by retesting the resistance of the cup and handle by failing to cross it or it can drop from this point on. The volume better fits this, because there was a large rejection on the right side (the second attempt to drive through the high). However, it is also important to note that this is near historical resistance. Given that there is bullish news, it is possible that Litecoin will see the rally of the cup and handle, as for the moment, I am neutral on both outcomes. In addition, it is possible that this is a harmonic pattern, however, harmonic patterns are something that I need more time to develop.
by CuddlyCuddles
Bitcoin - Weekly update for Sunday June 16th 2019Hello my fellow Bitcoinistas! We still have a several hours left in this week but I'm going to go ahead and post my weekly update for Bitcoin. For those of you following my work you are already very familiar with this chart. You know when we hit bottom. You know when we broke out of the large cup and handle. And you know when the 20/40 weekly MA crossed. You also know that in last week's update I was calling for a green candle this week that would entirely engulf the red candle of last week. Well, I'm going to go ahead and say that's how this week is going to end. Unless they can crash the price in the next 7 hours or so this week is going to finish green and engulf last week's candle as predicted. What does this mean? I think it means you need to put on your space suit and your helmet, hook up your oxygen, and get ready for the launch sequence. Let's start the pre-flight check-list now: 1. Bitcoin broke above the multi-week trend-line - Check! 2. Bitcoin came back to the trend-line for a touch-back - Check! 3. The touch-back printed a red weekly candle - Check! 4. The red weekly candle was engulfed by a green weekly candle - Check! 5. The 20/40 weekly moving averages have crossed - Check! 6. The gap between the 20/40 weekly moving averages continues to widen - Check! 7. I saw another segment on TV this morning about Bitcoin - Check! 8. The Bears are shorting their butts off trying to stop this launch - Check! Ladies and Gentlemen our fuel is 110% and we are ready for take off. Please throttle up main engines and initiate the count down. I'll see you on the other side of the moon. BBS out! In 10, 9, 8, 7,........................................... For clarity - If you are day trading this does not mean we are running North and never looking back. We could retrace at any time. I'm just saying that "In General" we are fueled up and ready to see new highs in the weeks and months to come. Since I am already long all I am doing right now it sitting back and watching the show.
COINBASE:BTCUSDLong
by BitcoinBearSlayer
3
GOLD - XAUUSD - Long Trade - continuationHello all Following the Long Gold trade I took 2 weeks ago - I have been looking to get back in and ride what I believe will be a second leg higher. With the price action today , where it has bounced off support and has started to cycle higher on the 1 hour chart - I am taking 2 trades, one conservative and one with a tighter stop. The risk is 1% for each, however the lot size for the first trade is greater as there are less pips involved to get to the stop If it fails, and it retests this level of support at 1330, I will look to add to my position long and also let the conservative trade play out. There is scope for a lot more pips out of Gold yet I believe. Thanks for looking I have added below the video I made on how I took the previous Gold trade. DuncanForex.com is now live with a home page for you to subscribe to future news and also receive a discount on training. Cheers, Duncan
OANDA:XAUUSDLong
by UnknownUnicorn483829
BTC Update! Watching for daily bull flag or 12 EMA supportBulls continue to remain in control and have seen some solid dip buying. I personally exited a small portion of my BTC and ETH positions 2 days ago just to lock in profits and have more flexibility with my stops. Ideal scenario here in my opinion is for the daily to be a bull flag here with continuation today or tomorrow towards $9k. Resistance from initial move is up at $8949 and low of the pullback was overnight down at $8426. This is potentially a new stop loss area for those traders in positions or if looking to have more wiggle room could time against the 12 EMA which is just under $8200 now and slowly rising. I am continuing to keep an eye on a date announcement from Fidelity for when they will officially open up BTC trading to their institutions/pro traders (see post a couple weeks ago regarding my thoughts on this situation). But until that date is announced and coming up, enjoying riding the wave the bulls are in and will continue to lock up profits. Just My 2 Sats!
COINBASE:BTCUSD
by My2Sats
BTCUSD - Bull FlagIf this lower time-frame Bull Flag breaks North as expected we should hit the next target between $9,800 - $10,000. Over another $1,000 from where we are now. The Flag pole was quick and strong which usually indicates there will be a continuation. We don't know when or where it will break along the top of the flag, but we do know by the length of the flagpole that the move should be at least $1,066 to the next target. Let's see if it plays out. Full Disclosure: Yes, I'm still very, very, very long. Good luck!
COINBASE:BTCUSDLong
by BitcoinBearSlayer
USD/GBP - One of Two MovesUSD/GBP = Overall the pair is in an uptrend according to monthly timeframe. Price is approaching a major key level. Price action suggests strong bullish movement. Overall I think bulls will tire at the key level and consolidate at this level. Price will then either do one of two things. 1st: Continue past the key level and further move up to the monthly uptrend line and once price hits Bears will take over immediately push price down heavily. 2nd: Once price hits the above key level consolidation will occur at this level for a bit and make a smooth transition down to the neckline of what could be a "double top". I think there is a high chance of price consolidating for a 2nd time; breaking the neckline, retesting and then move down with some momentum. Hopefully one of the two predictions will be correct in 2019. Happy trading and good luck profit hunters. Trading Journal #7 -Austin S.
by austinlmkc
Trading styles. Part 3/5. Trend continuation breaks.Buying breaks / continuation in bull markets this strategy is usually a little "slow", but often winners the problem is it can go back before going up so a tight stop loss is likely to get hit often even when being right, in bear markets moves can be violent. Those I can think of * The triangle / flag pattern / falling wedge These have always worked and still do. Pretty decent. Works really well on Bitcoin up to now. This is my first post on trading view, I was still an innocent young buck (just kidding this was barely over 1 year ago) Another one on Bitcoin, I bought before the break in the green area at the bottom because I just knew (market was extremely manipulated at that time & they showed me their hand), but a regular break buy at 9750 with a stop at 9150 (below swing low) and getting out at 11000 after resistance was rejected was still a reward to risk ratio of 2. Those continuation patterns carefully selected are wins at least 50% of the time. You do the math: An example on gold * The inside bar break Some examples You know what asset high timeframe trend following inside bar breaks have worked great with? * Supply & Demand area breaks I really do not know if this works. Literally 0 experience. I do not like it. The idea joining the low timeframe trend and going against the higher timeframe one. Not my thing. It may work, it certainly works under the right conditions and everything. Going to throw some examples but these are just that. (Shorted at the top btw - chart is reversed) Here is a similar one on copper, retraced in supply area, then broke above actually pretty strongly but did not go very far and reversed: (Shorted at the top btw) My favorite stock here: Bitcoin again: Stock market 2016: Such a strategy (buying supply area breaks) might work. I believe the odds are in your side if you don't or at worse just miss out, don't go buy once we are below demand area of course, but not short either; And vice versa. Novice buyers buying because their 6 month lag indicator tells them too? LOL. Ok these are the 3 types I know. I think this is it? The head and shoulder being a reversal kind of break it is not described here.
FX:SPX500
by MrRenev