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Correctionwave

OMG/USDT - potential 90% setupHello, traders! After the correction of growth, the price of OMG returned to the active trading range of $4.09-$5.48 At the moment, the buyers showed initiative and the price started an upward movement. The buyers were stopped by the local resistance level of $6.94 It is possible to connect to the buyers on the correction in the range of $5.48-$5.78 It is advisable to place a stop loss below the price level of $4.48 Target correction of downward movement will be the levels : $6,94 $7,90 $8,78 $9,56 $10,52 If the first target is hit, the stop loss should be moved to $5.06 Good luck and watch out for the market P.S. This is an educational analysis that shall not be considered a financial advice
OLong
by UnknownUnicorn10064030
BTC/USD - Update - 24.05 - Uncertainty rulesHello, traders! Starting from $59600 after Elon Musk's tweet, the cryptocurrency market followed the "eco-friendly" trend. Unfortunately, the trend turned out to be descending. Further, news from China contributed to the trend. First, the introduction of restrictions on operations with cryptocurrencies. Then news about the ban on "not eco-friendly mining". The sales were stopped by the buyers' control zone between the levels of $31000 - $37800. At the moment, buyers are making an attempt to pass the local resistance at $37800 and bring the price back above the main uptrend line. In the visible trading volume, we can see the $37800 - $47200 zone, where the trading volume is the smallest. This is the area where we should expect to see trading in the coming weeks. The sellers' control zone is located between the levels of $41600 and $47200. In case the price reaches this zone, we might see a second reaction from the sellers. In case the price goes above $39800, there may be a price squeeze between the sellers' and buyers' control zones, and the two trend lines: downward and upward. After that, the exit to the stronger trend will follow. The situation in the market is extremely unstable. Take care of your deposits and do not forget about risk management Good luck and watch out for the market P.S. This is an educational analysis that shall not be considered as financial advice
BITSTAMP:BTCUSD
by UnknownUnicorn10064030
CADJPY | Perspective for the new week | Follow-UpWith over 800pips run since my last publication (see link below for reference purposes); It appears we are at a juncture in the market where a trading opportunity is building up as structures insinuates a reversal. The CADJPY pair appears to be losing its bullish strength since hitting her peak @ Y 90.600 which was followed by Lower lows that culminated in a successful Breakdown of Key level I @ Y90.350 during last week trading session. However, this bearish potential seems limited at the time being as we still need to keep our fingers crossed for further confirmations that will trigger selling opportunity ( a possible correction phase in anticipation of a rally continuation). Tendency: Downtrend ( Bearish) Structure: Breakdown | Supply & Demand | Trendline Observation: i. The Bullish Trendline indicated on the chart has been a significant factor in deciding the prevailing direction of price action since last month. ii. Pivot point Ito IV emphasizes a visual representation of price action respecting a support line. iii. It is observed that the thrust from Pivot IV appear to have lost momentum which has been consistent with the pattern in the past as the price rejects Y90.500 during last week trading session. iv. The rejection of Y90.500 give rise to the appearance of the Double Top pattern - an extremely bearish technical reversal pattern that forms after the price reaches a peak two consecutive times with a moderate decline between the two highs. v. This been said, I shall be looking forward to a Breakdown/Retest of Trendline which shall also coincide with Breakdown of Neckline (Key level II) @ Y90.000 (a psychological level) for confirmation in the coming week(s). vi. CAUTION: A Breakout/Retest of Y90.350 shall render this set-up invalid with the possibility of rally positive. Please note that we are looking for an opportunity for Bearish momentum below Trendline... Trade consciously! :) Trading plan: SELL confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:5 Potential Duration: 2 to 6 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
Is DOGE still healthy?The previous analysis of retracements says YES. Previous retracements was -79% and -70% , and in extremely high gains, extreme pullabacks are to be expected and are normal. The major trendline is intact and will still be intact even with a 70% correction. Higher highs and higher lows will be intact also. Since volume is not increasing on the downside, that is a good sign. I believe the next major volume peak will be near the price of $1. Price can consolidate in the range 0.33-0.6 for a couple of months before making a new all-time high.
BINANCE:DOGEUSDLong
by ZoharCho
1
First Idea - unexperienced but trying to learnHope you guys don't mind me sharing an "unexperienced" trader idea. I'm trying to learn and I saw this pattern emerge across multiple crypto if this plays out. We don't have much support to begin with but apparently a correction was needed - exaggerated by huge liquidation counts, $DOGE leader of crazy and FUD around social media. I still believe that this is a decent time to invest and adjust his own trading strategy - capitalise on wins - maybe hold bags which you are still proud of and ride the next wave up. Preferably with an Elliot Wave. What do you think which entry makes the most sense. Catching the knife seems to me risky right now. Cheers guys.
by tomsiwik
TESLA: Elliott Correction Phase TSLA could possibly be going through a correction phase of an Elliott Cycle. After completing impulse wave 5 with candles overextending above the ascending parallel channel, TSLA price retraced 38.2% to complete correction wave A at Fibonacci level of 0.382 ($557.48). Correction wave B may be completed by retracing 61.8% back up from wave A and finally falling to around a healthy 61.8% correction from the all-time high to a Fibonnaci level of 0.618 ($345.74) for buyers to re-accumulate. This technical analysis is for educational purposes only.
NASDAQ:TSLA
by Bosonium
ETH/USDT - new targets after the correction cycleHello, Traders! Having entered an uptrend, ETH has gone into a correction. At the moment, trades are held in between $1,440 and $1,868, between the buyers' zone of interest at $1,302 to $1,440 and the sellers' zone of interest at $1,868 to $2020. The situation on the world markets looks shaky, which provokes more and more traders to work from sales. This situation was repeatedly played out by market makers during the bull rally. Thus, they pushed the price up and provoked the players to close the short positions at a loss, which in turn gave a new impetus for the price growth. Based on this we can try to connect to the buy positions in the range of 1488-1578$. The Stop Loss can be placed under the lower border of the buyers' area of interest - the level of 1302$. The targets would be price levels of $ 1670 $ 1868 $ 2018 Good luck and watch out for the market! P.S. This analysis is created for educational purposes only - measure your risks, while trading crypto currencies
COINBASE:ETHUSDLong
by UnknownUnicorn10064030
2
BTC/USD - recovery from correctionHello, Traders! The global financial markets have been in correction since 21 February. This is common in any market, including bull markets. Buyers were able to stop the sell-off in the buying liquidity buffer between $44200 and $47200. The initiative has gone back to the buyers. The news environment is also heating up, with reports of large BTC withdrawals from cryptocurrency exchanges constantly being tossed around. At the moment, the price is out of the local trading range of $47200 - $49700. Downside correction targets on Fibonacci levels : $52552 $55110. In case the uptrend continues, we might see a retest of the ATH - $58354 A risk-free entry can be looked for on the upper boundary of the range $47200 - $49700 - the level of $49700 Stop Loss can be placed below the lower boundary of the range - level $47200 Good luck and watch out for the market. This is not a piece of financial advice, but only an educational analysis. Measure your risks before entering any position
BITSTAMP:BTCUSDLong
by UnknownUnicorn10064030
2