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Continuation

Bitcoin to $1k (The doomsday idea you're afraid to consider)This is a very unpopular view and I've already been told off by countless perma-bulls, but hear me out here. This is the doomsday scenario for BTC, displayed in a no-BS way. You likely haven't seen this view yet due to people not wanting to believe it can be possible, but take a look with an open mind and see for yourself. This chart highlights the possibility of continuation down from the 6k breakdown. At the time of writing, this would put us currently at the top of a large symmetrical triangle which is a continuation pattern, especially in this case where it's supported by the decreasing volume and rising RSI trend throughout. Following through with this pattern and ultimate breakdown will result in what I would start to call a bottom on BTC. Here's what I see for targets based on this: Short term target: $3550 (Bottom bound of the triangle. We are currently at the top bound and ready to make this drop to the bottom bound. I estimate this to happen during the week of writing this.) Full breakdown from triangle target: $1000 (Technical target, but could very well halt slightly above this such as near $1,200. This is the ultimate destination and a likely bottom.) Timeframe for breakdown from triangle: April-June (This is a rough estimate, I mainly expect some action to occur in early May as we reach the tip of the triangle. The main fall will likely happen fast, get ready.) These are my opinions based on personal observations, don't take my word as direct financial advice. Keep an open mind and just realize that this is a real possibility. I'll be updating this as we make progress. Good luck and be careful. -Ethy
COINBASE:BTCUSDShort
by EthyMoney
2
BTC: Possible Bearish Continuation PatternBasic Trading 101 - Bearish pennants are continuation patterns that mark a pause in the movement of a price halfway through a strong downtrend. - They occur just after a sharp drop in price and resemble a triangular flag as the price moves sideways, making gradually lower highs and higher lows. - The downtrend then continues with another fall in price. BTC seems to be forming a bearish pennant. If Bitcoin breaks upwards from this pennant, we could expect the price to retest the 200 Exponential Moving Average. If not, it could drop down the the blue area of the chart. Looking at the 1 hour time-frame, we can see a bearish divergence on the RSI, indicating the possibility of a price drop to the lower line of the pennant, which would further indicate the validity of a Bearish Pennant.
COINBASE:BTCUSD
by MRudy
2
GBPJPY - Long - Daily Chart - MACD Continuation TradeEntering on a bullish MACD cross while ABOVE zero-line , signaling bullish continuation. Note that I use MACD ONLY for continuation and do not attempt to find reversals using the MACD as I do not find it to be very accurate in FX Trade is on the daily timeframe and has a 1 ATR stoploss (148 pips), 1ATR target 1 where I take 50% of my position off and move stop to breakeven, then I use a trailing stop following the other 50% of my position setting my stop at the low of each subsequent daily candle that continues higher. These trades can take many days to play out and I often hold over the weekends, do not take this trade if you struggle to control your risk or are uncomfortable holding for weeks at a time. I expect this setup to go against me over the next few days as this was already a strong move up and may need to cool off for a day or 2, I expect to hit profit targets sometime next week but don't trade based on time. It is also important to note that I normally allocate up to 1.5% account risk on continuation trades however I do not risk over 1% when I trade GBP (due to the fundamentals around Brexit). A similar trade to this could also be expressed by shorting EURGBP although that pair has not made a signal on the indicators yet and is most dramatically news driven. The historical probability of MACD continuations on the top 20 fx pairs (with my 1ATR parameters) is around 68%, please perform your own backtesting of this strategy as you can achieve higher or lower probability results using different stop losses and profit targets. Best of luck traders.
Long
by CT-Jaguar
1