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$GBPUSD | Double Top-ish? The GBPUSD has had a wild ride in the past two weeks. Things are starting to normalize for the pound but here we have a simple 1:1 type of trade potential. We have GBPUSD breaking the upper Bollinger Band twice and not resistance at 1.14339 area. We also have over bought levels on the RSI in a micmic-ing double top like pattern. The only potential saving grace that could change this is the 200 EMA which is currently underneath. We have a couple of landing spots if all goes as planned at 1.133 and 1.125. The 1.13 line has not been respected since September and the latest support line is the latter. My trade is currently highlighted by short position graphic.
Short
by CryptoHotep
A little peek into how I catch sniper trades with zero drawdownSorry guys, I didn't post today, but caught a cracker gold sell. I would like to give a small insight to how I look for sniper trades, especially in London open. If you look at the 2 red arrows, you will see that during New York yesterday, price made a high of the day at the 200ema, which acts as a resistance/support, in this case it is a resistance for obvious reasons. The Asian session High came up to test this same zone, as seen on the second red arrow. Effectively making a double top in the higher time frame, that is the 1hr chart. Price then broke below the 200ema, as well as the 50ema(red) in the Asian/London changeover, when price broke below the 50 ema, that ema became resistance and not support, price came back up to retest that resistance as indicated with the yellow arrow. When the price could not break that ema, and instead ended with an engulfing going short, that was my perfect entry for the morning. 140pips have never been easier. Patience and confirmation are key. This is the simplest form of my strategy, there are obviously more components to how I trade, but this is the simplest and most fundamental way for catching great entries. Boost if you like what you see. Safe Trading P.S. GJ is Bae!!
OANDA:XAUUSDEducation
by faddy
$EURUSD | Quick 50-55 PIPSWith EURUSD breaking the lower Bollinger Band & at extreme oversold levels, there may be some relief upcoming for the EURO. Proceed with caution though as several U.S. financial events are happening this week, so I wouldn't advice this to be a long trade which is why my take profit is at the 50-55 PIP mark right below the 20 MA & 50 EMA as well as the most recent short term resistance point. Stop loss is below the lower Bollinger Band as well as the most recent support line. Potential short reversal to the upside here with that confirmation candle noted. The Euro reacts well to these quick set ups so here's hoping. 🤞🏽
Long
by CryptoHotep
$USDCHF | A Ceiling Finally!You can see my last note about USDCHF where I was stopped out unexpectedly only for my initial prediction to come to fruition. Annoying to say the least. We are back at similar times, with extreme overbought levels on the RSI BUT also a MASSIVE rejection at major resistance levels coupling the fact of broken upper band on the Bollinger Band. Let's ride the wave down on this. Looking at a take profit near the next short term support line and stop loss above your swing high. Here we go again!
Short
by CryptoHotep
$DOGE 🐕 | Everywhere Else Is Dumping......Except....DOGEUSD has always been a little bit of anomaly as it relates to the crypto market comparatively. It has always done SOMEWHAT of the opposite of BTCUSD and you can back test that. Does it happen ALL OF THE TIME, no. But it moves in its own trend. Whether thats due to the "Elon Effect" or other parameters, it rides its own wave. Here we have a decent set up to the upside for a quick pop. We have touches and breaks on the lower Bollinger Band and a close above short term support with a long wick up. We were also at extreme sell levels on the RSI. The 20 MA, 200 EMA and 50 EMA are cleared for the time being so following history we can make a quick 25-30%. Risk management I have my stop loss below the swing low. DOGEUSD reacts well to typical set ups like this.
COINBASE:DOGEUSDLong
by CryptoHotep
$ALGO | Potential Move Up To Previous ResistanceALGOUSD was at mid-September levels of being oversold and broke the lower Bollinger Band. I waited on confirmation for this potential reversal to the upside because of this. We had a green candle closing fully above the bottom band and above the most resistant near term support levels. Got in a buy highlighted by LONG POSITION graph with the mindset of taking profit slightly above the 200 EMA which hasn't been respected most recently but BELOW the nearest resistance which has. Will need a decent sized green candle to push through. Stop loss placed below BOTH the lower band and support levels.
COINBASE:ALGOUSDLong
by CryptoHotep
$BTC | Small Pocket for a ShortBTCUSD has reached overbought levels in similar fashion with a confirmation closing below the upper bollinger band to signify the notion of a possible reversal with a possible break of the 200 EMA. There is a little pocket notated by the short position where a quick trade could be made but to be aware of key levels drawn by the blue lines. These levels were drawn off the daily and have touched and been respected at least 2-3 times. Not going against the overall trend here which is still on the downside.
COINBASE:BTCUSDShort
by CryptoHotep
3
$PLTR | Overbought & DivergenceWith PLTR we see several items that could be a signal for a potential reversal finally. We see a broken upper Bollinger Band multiple times as well as bearish divergence near this top. Also a gap back down below short term support (highlighted by the blue line). Even though I have the next spot for support marked, we could be looking at a "SOFT" landing around $7.94 area due to the respect of the 20MA. I previously took out PUT contracts on PLTR around the first break of the Bollinger Band so this is definite relief.
PShort
by CryptoHotep
$DOGE 🐕 | Multiple Rejections For DOGEUSD here we may have possible reversal sentiment. The Elon Musk effect may have run its course for now as multiple rejects on the resistance line with no successful push through. We also have overbought levels on the RSI and the upper Bollinger Band. For this short, the Stop Loss is placed above the upper band and patience is key. Waiting for the confirmation candle to close below that upper band fully is key. Trade is active and highlighted by the short position graphic. Profit set above the next support line as well as the 200 EMA for good measure is also noted.
COINBASE:DOGEUSDShort
by CryptoHotep
$AUDUSD | Nice Bounce Upcoming?Simple idea here: AUDUSD breaking below lower Bollinger Band with several following candles showing slowed down trend. If we close the current (circled) candle successfully fully above the bottom band, simple is expected. Next resistance lines are noted (drawn off the daily with at least two touched) with the Stop Loss & Take Profit also highlighted. Easily can clear this but have to take in account 20 MA and also that the RSI is not at extreme levels so not expecting a huge move.
Long
by CryptoHotep
$MATIC | Extreme over bought levels upcomingI recently took a long with MATICUSD and was a successful trade. It has also cleared previous resistance currently and looking toward the next short term (drawn from the Daily) resistance level, highlighted with the blue line. MATICUSD is also clear of the 200 EMA but if you look at past movements, the 200 EMA has not been respected by any means. We are also approaching extreme over bought levels at 70+ with the upper band of the Bollinger Band being broken. My eyes are on this and looking for a confirmation candle to SHORT from the most resistance line.
COINBASE:MATICUSDShort
by CryptoHotep
$F | Bounce En route? 🚗With Ford reaching support zone levels (as well as key value level) not seen since June and February as well as extreme oversold levels, this may be the call for a reversal here upcoming. I am keeping my eye on this and waiting for a confirmation candle to signify change of sentiment as the bottom band on the bollinger band has been broken. The market itself, is in shambles but certain stocks sometimes revert to their "own" ways vs. what the rest of the market is doing. We will see if $F will make a move here. 👀
NYSE:F
by CryptoHotep
$XRPUSD | The Ride May Be Over.....For NowXRPUSD had a nice run up most recently, but with its break of the upper Bollinger Band along with over bought status at extreme levels, reminiscing February 2022, we may be looking to revert course. Currently under the 200 EMA as well and rejected off of the major resistance zone, I think a safe landing would be next major level of support for the time being. I waited until the confirmation candles following the Doji at the top to take this trade and am learning to be even more patient with my daily charts.
BITSTAMP:XRPUSDShort
by CryptoHotep
1
$XRPUSD | Downtrend To Previous Major SupportTook another short to catch this window with XRPUSD. I think a good opportunity here to capture this downtrend to the next major support zone as the previous closed UNDER the 20MA successfully. Also with RSI in the middle, you can look to September 18th timeframe but the difference there is XRPUSD had the 20MA, 50EMA and 200EMA to bounce off of. This time, this is not the case and has already broken one. A safe take profit is at the next short term support highlighted by the lower blue line.
BITSTAMP:XRPUSDShort
by CryptoHotep
$XRP | How Far Can We Go?!?$XRPUSD has gone parabolic amidst positivities in the SEC trial and has rocketed to levels not seen since April 2022. It has cleared the 20MA and 50EMA on the daily with ease. The 200EMA is still in question but is looking good BUT $XRPUSD is coming in another major resistance zone that has been tested multiple times so I am awaiting on the 4hr chart to see how the trend reacts before shorting. But a great sight to see indeed. If $XRPUSD closes above this $0.51-$0.53 resistance zone and successfully above the 200EMA expect a run up to the $0.90 area. Giddy up!
BITSTAMP:XRPUSD
by CryptoHotep
ETH Will Signal When The Downtrend Will Resume—Just Follow PricePrimary Chart: Ethereum's Bear Rally to Continue a Bit Further Before Downtrend Resumes Chart shows Bollinger Bands, Fibonacci Levels and Supply Zone Summary: ETH's short-term countertrend rally continues and points higher in the short-term before the downtrend resumes. Near-term targets are resistance and lie at $1798-$1823 range and 1912.49 over the next week. Only if price can hold and reclaim $1912 will price also have any chance of reaching $2000. Ethereum's bear rally may continue a bit further this week before the downtrend resumes. The mouth of the Bollinger Bands are widening on the daily chart, indicating increased volatility that typically coincides with a larger directional price move. At this point, price is walking the upper band of the Bollinger Bands, which signals that the trend in the short-term is up. Furthermore, on the Primary Chart above, consider how price has held above the .50 retracement of the June to August rally at 1455, a short-term confirmation that this countertrend rally may last a few more days. The countertrend rally's continuation is confirmed by the 8-day EMA, a simple but reliable gauge of near-term momentum and short-term trend. Note that although the 8-day and 21-day EMAs point higher in the short-term, bear markets frequently make sudden, volatile price moves in either direction. So traders and chart watchers should be ready for price to fail at any time and resume the larger-degree trend, which is down . Supplementary Chart A: 8-day and 21-day EMA Point Higher in the Short-Term Despite the Bear-Market Context Confirming that the short-term trend is upward, consider the anchored VWAPs from key highs and lows shown on Supplementary Chart B. Price has broken above each anchored VWAP placed on this chart including the one from the April 2022 swing high (purple), the June 2022 swing low (green), and the August swing high (yellow). In addition, two simple uptrend lines—two have been drawn to ensure that the entire range of trendline placement is included—also confirm the ongoing validity of the bear rally. Yes, this may frustrate bears for a bit longer—and to be clear, this author remains a bear in the intermediate term for ETH. Supplementary Chart B: Anchored VWAPs and Trendlines Point to the Bear Rally's Continued Validity It's helpful to remember that there is no need to guess when ETH will reverse it's current counter-trend / corrective retracement. Price and indicators will signal when this happens. It's so easy to get caught in guessing when price is rallying or declining. When price begins showing signs of failed breakouts, when the 8-day EMA turns down again, when the VWAPs are broken to the downside, the technical evidence will then show when ETH is ready to resume its downtrend. Lastly, consider the key levels in addition to the supply zone around 2000-2100 shown on the Primary Chart. Major resistance lies at 1912.49, 2230.95 and 2549.41. Note: These Fibo levels shown below are more intermediate-term levels. It would take a major price move to reach $2549.41, though anything can happen including jaw-dropping rallies in bear markets—but this is not my prediction. Supplementary Chart C: Intermediate-Term Fibonacci Resistance Levels Lastly, consider the levels that are most important to watch this week before considering whether $1912-$2230 can be reached. Price must first must hold $1726 and $1751. Next price must reclaim the .618 retracement of its recent decline at $1798 / $1800. If that holds, then $1912 / $1915 come into play. Supplementary Chart D: Short-Term Fibonacci Resistance Levels www.tradingview.com Please note that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation, and countertrend trading, e.g., trading a rally in a bear market, is tricky and challenging even for the most experienced traders. Countertrend trades are lower probability trades as well. Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction. BINANCE:ETHUSDT CME:ETH1! BITSTAMP:ETHUSD COINBASE:ETHUSD KRAKEN:ETHUSDT
by SquishTrade
5
ETH: The Downtrend Has Resumed, Lows Will Be RetestedPrimary Chart: Bollinger Bands and Fibonacci Channel with Key Support Zones HighLighted Summary: The path of least resistance continues to be downward. Key support levels were broken just above at 1319 and 1455, which are now resistance. Bollinger Bands are widening, signaling a trend move in the coming week. After a whipsaw move to the upper band, price is now persistently walking the lower band. An oversold bounce could occur intraday at any time, but within a few weeks (perhaps days depending on the volatility in markets overall), price may reach a conservative target of $1100-$1126. The more aggressive target is a range from June 2022 lows at $880 up to $1027 . On August 27, 2022, a technical-analysis post on ETH (linked in the above chart on the August 27 price bar) noted that ETH's response to support levels would offer clues as to when the downtrend would resume. The relevant specific support levels shown on that date were $1455 and $1319, which are key Fibonacci retracement levels. Both these levels have now been broken to the downside. The August 27, 2022 post also discussed the following, which were applicable at the time: "Technicals do not provide an answer about whether the intermediate-term or long-term trends have reversed from this year's bear market. They do, however, help see that the near-term path of least resistance is somewhat lower. And they give us price levels and zones to watch to help determine what ETH's next move may be. And such levels may also help traders analyze whether the multi-week uptrend from June 2022 lows will continue further or whether it will be deemed a powerful bear rally within a remarkable downtrend." Now that these two specific technical levels have been violated to the downside, the conclusion that the near-term path of least resistance is lower has now been strengthened and confirmed. The August 27, 2022, post also noted that momentum in the short-term, as measured by RSI and two EMAs, was bearish. This continues to hold true. See the updated RSI chart below (daily). Although ETH had a bit of a rally in the first half of September surrounding its merge, RSI remains bearish. The last major RSI peak occurred on September 10, 2022. Compare this peak with the July 18 and August 13, 2022, peaks in RSI, and one can see that the final rally in September had waning momentum compared to earlier rallies over the summer. Further, momentum remains weak for ETH, and a new low was just made as the prior RSI low from late August 2022 was broken to the downside. But RSI should be watched—if the selling intensifies—for OS levels nearing the extremes from prior tradeable / interim lows this year. Supplementary Chart: RSI for ETH on the Daily Chart Finally, key moving averages such as the 8-day and 21-day EMAs remain bearishly sloped and stacked. This removes the need for talk of reversals and price predictions. As long as the 8-EMA is sloped downward, the path of least resistance continues to be downward. ________________________________________ Please note that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for this week. Also note that countertrend trading, e.g., trading a rally in a bear market, is tricky and challenging even for the most experienced traders. Countertrend trades are lower probability trades as well. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
KRAKEN:ETHUSDShort
by SquishTrade
7
$ETH | Feds 75 bps = Erratic BehaviorI've added the Bollinger Bands into trading strategy as an added confluence and to help identify proper pull backs and knowing when the market turns. Was watching $ETHUSD closely today and as with everything else after Powell's sentiments, it went haywire. If the $ETHUSD were to clear the 20MA I would have longed but with it closing and retreating back to levels prior I am shorting this as it looks more like a pull back as previously noted from prior levels. Also I am using primarily the Daily and 4HR charts to trade as I am mostly swinging. We are still in a downtrend and I see a little more pain to come.
COINBASE:ETHUSDShort
by CryptoHotep
4