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BTCUSD: Shallow Retrace Hints At Break Out To 7500.BTCUSD update: Price is hesitating just under the bearish trend line that has been established since early August. While at the same time, the bullish trend line is also still intact. Which way is it more likely to go? In my recent Bitcoin article on S.C., I explained the increasing risk of retrace as price pushed into the 7Ks. There is no reason to buy into a high, but there are occasional exceptions. The previous candle has closed as a pin bar. By doing this, price managed to maintain the bullish trend line. This is a sign of strength and a likely continuation pattern similar to an inside bar. When a market sells off it usually happens fast. The fact that price is holding up certainly supports the bullish argument. It may also be the result of the coming holiday in the U.S. which often unfolds with lighter volume across all major markets. In summary, if the current structure holds, this market is poised to break higher. The trade would certainly be an aggressive one, and those details will be shared with our members. We are not one to buy highs, but shallow pullbacks are an attempt to retrace. If the market can't retrace, it is saying that the bulls still maintain control. The 7500 area is a reasonable expectation if a continuation break out occurs. A close below the bullish trend line will negate this scenario. Begin with the idea and then let the market choose to validate it or not.
BITFINEX:BTCUSD
by MarcPMarkets
15
Long on POR on PullbackPOR has been trending in the upwards direction for quite a while now. It appears to have some excellent volume support on the way up. Where as downward moves result in a reduction in volume. POR has been respecting the 20 EMA for quite sometime and formed a bullish candle today a with the lows at the 20 EMA. POR also has a zacks rank of 2 (buy) which is a good enough rank for a swing trade. It has beaten earnings estimates over the last 4 quarters. It also has a cool 3.14% dividend yield which isn't too bad for some our longer term holders. POR has an ATR of 0.67 at this time which means it wont be making any drastic moves unless something big happens. I will stay in for a couple days to a couple weeks.
NYSE:PORLong
by GoranTrader
GBPNZD – Potential Continuation Triangle BreakoutThere has been growing bearish sentiment for GBP contributed by among other things the lack of progress on Brexit negotiation which might continue. However, it might have been overdone based on COT data as at 21st August and released on 24th August 2018 (please see chart below under update). Whist it is not at absolute extreme level it at a zone where a retracement bounce might develop. Its relative strength against some of the currencies might resurface again even if it struggles against USD. GBPNZD looks more clearer than other GBP pair and note the following observations for bullish trade: 1. Has been in bullish trend channel since Oct 2016. 2. Supported by rising 200 MA on daily chart. 3. Since posting Nov 2017 peak, it has been in sideways consolidation into what could be continuation triangle which appears completed. 4. 50 period RSI also supports potential bullish breakout of the triangle. 5. If 1.9050 area holds then it could offer a long trade with initial target of around 2.0 as whole number and secondary target of 2.1 area. Warning: This is my interpretation of price action using TA approach which I consider helps me the most, but could be completely wrong. Therefore, as always, do your own analysis for your trade requirement and ignore my views. For those who appreciate my analysis, select to follow me and the chart for notification of future updates. Indicate you like my analysis by thumbs up, comments and sharing it with others. If you have an alternative idea then, please be constructive and share for all to learn from. Thank you for taking the time to read my analysis. DanV
Long
by DanV
3
EURUSD -This Chart Perfectly represents what trading isSo if you've been following my posts on the EURUSD then you know that I've had a short-term bullish view within a longer-term bearish view. The bullish move from earlier this week worked out perfectly and now the market has reached a level in which it will have to make a key decision point. BULLISH SIDE - The market is forming another head and shoulder bottom pattern which is a classic reversal pattern providing a bullish outlook. The confirmation of this pattern would be a violation of the nextline and IF we were to get that, THEN I would project a continuation higher to 1.17-1.1750's level. BEARISH SIDE - If previous structure resistance holds at this level then we could see the end of our relief rally and a continuation lower to retest previous structure lows and a possible extension down to my longer-term bearish projection of 1.110-1.08's. This chart represents what trading is, multiple parties, having multiple opinions while looking at the same chart. Something I always tell the traders I work with is "to be predictive in your analysis, but reactive in your execution" and essentially what that means is wait for the market to give you confirmation that one thing is more likely to happen than the other. Good luck traders and if this post was helpful, please let me know by leaving a comment below. Akil
by Akil_Stokes
45
IOTA TRADE SETUP - SHOWING DIFFERENT ENTRY STRATEGIESHi guys, been a while. IOTA just had its first initial impulsive leg up after a downtrend and is forming a continuation pattern. In this pattern i have layed out three different areas where you could go long with respectively their risk to reward ratios. As you can see the best entry is the one closest to the baseline of the triangle, but it doesnt reach this level too often. Depending on how aggressive / conservative you are as a trader, you choose at which point you would like to enter. Breakout trades are usually high in risk, but when done properly can give a higher succes rate. Im looking to go long at the low risk level obviously, but when iota breaks out before it reaches that, i would take a smaller position size long at higher prices. good luck
BITFINEX:IOTUSDLong
by RegideTrader
inverted widening triangle, continuation of trend, read more-->as for right now indicators showing a very bullish signal on daily, rsi overbought rsi stoch bottom However this time its better not to folow these view indicators as sentiment is overruling in favor for the bears. regardless i think we are in a inverted widening triangle pattern, wich often leads to continuation of the trend, in this case downwards we found a bottom at D sitting at the price of 5860 & just hitting the longer term support of previous bottoms at this zone marked as green i am expecting bitcoin to move to 6.5k zone, 2 reason for that is daily rsi and stoch reset, it needs to get out of the oversold territory before going down more, 2 it would fit in the pattern we discussed above here. if this pattern finishes i do say we drop down more to the 5.3k zone were bitcoin can find some strong supports back from 2017, it also puts bitcoin back to a spot before the big parabolic move started, so im tempte to say that this is as low as we will get this year for bitcoin. if you like this idea please thumb up and follow me ;) much appreciated!
BITFINEX:BTCUSDShort
by NGenetics
30
KEEP IT SIMPLE!- ACCUMULATE IN KEY SUPPORT RANGE (7.0-7.3)A bottom for the year was established in July with the confirmed cup and handle followed by bull flag continuation formations that played out, with this in mind for maximum R/R, accumulation in area of price consolidation/excess demand in range of 7.0 and 7.3 - which corresponds with the right lip of the cup which represents significant support. Price bias should on the whole remain bullish until bearish pattern and confirmation is occurs.
BITFINEX:BTCUSDLong
by CalicoNeko