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ETH Descending Channel - Looking to long if it follows the planLong time lurker, first post, be nice! Constructive critiques welcomed. Been active in crypto space since 2017! Made plenty of mistakes, however my New Years resolution is to do more trade journaling, so here I am. First published idea, yahoo! Macro picture defiantly looks ugly for first half of 2022. Got spanked being blinded by the laser eyes and have been sidelined while I try to find new entry points. I am not a good trader, so I am looking for long term buy and hold strategy and will take some cream off the top when market looks over bought. This idea is to help myself stick to the plan. I often have the right plan and insights. The problem is execution. Hopefully this gives me the incentive and encouragement to follow through. Idea background: ETH has risen in MCAP from $11 Billion in March 2020 to $27B in July 2020 then of to the races to about $250B in April 2021. We topped out around $570B in November 2021. My thesis is that retail drove the demand to about $100B and Institutional money brought us the rest of the way. Why is this important? Cause institutional money doesn't lose money. So max low I see is that $100-120B area which translates to a $900-$1200 USD ETH price. If in this area or below then ETH probably not going to be #2 coin at that point and is lost cause. Macro picture looks shaky and if the US Fed starts following through on its plan of reducing balance sheet of assets and actually starts hiking rates beyond what is advertised then we really are going down to that $1200 level. I believe current state of crypto markets is that the Fed will not follow through completely of accelerated balance sheet reductions and will stay at maximum 3 rate hikes this year. This illustration is what I think will happen. If the price stays in the channel I see the momentum starting to reverse in late February to March. If breaking above the channel the market is seeing new retail demand and we are back in bull season as the LT holders start off loading to ST holders. If break below the macro picture is looking dire for the rest of the year. Help me get better at this by leaving some comments on what might help illustrate the above thesis. I do have a finance background but am no TA expert. While I think TA is overrated in long time frames, it is hard to deny how much crypto moves at specific support and resistance levels of historical significance. Happy new year!! I hope 2022 brings you all health, wealth, and happiness. Edit 1: My buy area should be at 2750 to around 2000. I thing we touch 2400 at some point. I am back out at 1800 and below 1400 crypto is hibernating and it will be a long winter.
COINBASE:ETHUSD
by zippg
5
Pushing the CARTESICTSI is currently trading just above its long-term support. Although it may be tempting to show a breakout from the current structure, I believe it will continue in its accumulation phase for the short-term. This is due to the lack of stepped formation in its recent breakdown of price (instead a strong red candle formed as seen on the chart). The stepped formation with long wicks would be a good signal for a CTSI breakout (as seen in previous breakouts). A great entry point would be between the 0.59 - 0.61 range. A good entry would be between 0.61 - 0.65. Remember, the idea is cancelled if a daily candle closes below the support. Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :) Always DYOR and please feel free to leave a comment with your thoughts!
Long
by kush23456
2
QTUM at its core (up and down at the same time...?)QTUM has been trading inside this channel since the market drop in May 2021. It is now trading near one of its support zones. Over the next few weeks, QTUM will approach its long-term resistance (black line) which it has tested and failed to break over the past few months. This has resulted in the pair trading below the 100 and 200 day MA. It is overall bearish in the short-term until it can prove otherwise. QTUM's long-term support is currently holding and this idea is that the price could rise and break out of its resistance pushing toward the top of the channel. However, if this support does not hold (most likely due to a breakdown in the price of BTC) it could test the second support at ~5.46 which may be an even stronger entry point with a good return. Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only! :)
by kush23456
Cardano dropped down to long term support. Good entry pointCardano tests the longterm purple support line which currently sits around 1.3$. The support line around 1$ could be tested before we get a trend reversal back to higher prices. Sundaeswap released its beta and did show that swaps are working on the cardano blockchain. Once the bugs are fixed we expect the ecosystem to grow at a rapid pace. The RSI is barely above 30 and therefore very low --> Good entry point. We expect Cardano to hold the 1.3$ line (or at least the 1$ line) and begin a trend reversal back up. Feel free to comment or ask anything you like. Always do your own research and keep in mind that my charts and comments cannot be considered financial advice. Cheers Ctumbler
Long
by tumbler55
🚀🚀🚀LITECOIN 🚀🚀🚀🚀 My Litecoin technical analysis I go over a bullish bat formation stop levels, take profit levels Entry levels risk to reward profile also go over trend continuation trades. entry, stops, and target on them too What a three-point move is. What an Impulse leg is lots of information in short time. watch it couple 20 times This is the rules I use Video is ok imo I hope to do better in the future me learning share if you found value Thanks GL on your trades Remember A good trade setup can be a losing trade
COINBASE:LTCUSDLong
by JoeyMullins
3
Establishing a position in QYLD - how and why QYLD is a covered call ETF. They write calls on stock they own to bring in more consistent and predictable income. They do this to generate returns via options, this is helpful if you don't know how or aren't comfortable writing calls on your stock. It would behoove you to establish small positions after they pay their dividend should you choose to buy in. This happens monthly so you'll have more opportunities down the road to add onto your position. Their top holdings are VERY concentrated in the FAANG stocks. Does well in neutral markets. QYLD pays a hefty dividend of 11.94% or about $2.70/share annually Here is the wise way to buy this ETF. Wait until the dividend is paid (monthly in this case), and then spread out your buys across the next several days. There is no sure way to tell when the sellers will be done selling, so you want to be strategic - be careful of how long you wait because you may miss the dip all together. Note : QQQ returns are significantly higher over the long term. QYLD is NOT in my opinion a buy and hold forever investment. Use is as a hedge if you want, but however you use it I hope that this short idea helps clarify how to maximize your return with QYLD. NASDAQ:QYLD
NASDAQ:QYLD
by DontSlamTheDoor
3
4 Types of Trading Confirmations"Wait for this confirmation!" "Look for this confirmation!" When I first began my trading journey, these are phrases that I kept seeing get thrown around and had no clue what it meant! What am I supposed to be looking for? What do these confirmations exactly mean? It quickly began to get frustrating and confusing... Then eventually, things started to click one piece after another. Confirmations are a fundamental part of your trading and must be fully understood if you want to be successful in this game. So, what is a confirmation? Well, it depends on many different scenarios, but in this post I will talk about 4 of the most common forms of confirmations with examples! 1️⃣ Price Action When analysing many different instruments whether that is forex currencies, crypto projects or even stocks. You will often see when searching for trading opportunities that there are various confirmations that price will give clues about on the chart that we can trade from. Price action & candlestick patterns are one of the strongest form of confluences as far as confirmations in trading go. They can be accurate reflections of the current market sentiment and gives you clues of what price is trying to communicate with you. Making them very reliable when used in the right hands of course. Different types of price action confirmations such as doji's, pin bars, double top/bottoms & engulfing candlesticks have been proven by history time & time again to be a reliable method of identifying and predicting future market movements and is a major part of my technical analysis. But, is it a good habit to instantly place a trade as soon as we see one of these confirmations? Short answer, NO! I wish it could be that simple... Trading with only one price action confluence will soon bring inconsistencies into your results and will negatively impact your overall success rate. Instead, we need multiple confluences layered on top of one another to give us the best chance of predicting where price will head next. 2️⃣ Indicators Whether you're purely a price action trader or an indicator heavy trader. From simple moving averages to complex computer algorithms, indicators play a big role in the trading industry. Being 100% objective and removing all psychological aspects through providing real numbers, figures and data. They can be extremely beneficial to certain traders when it comes to carrying out their technical analysis. For many traders, the various signals from indicators are considered to be accurate and reliable information. However, all indicators share one negative thing in common and that is that they are all lagging . Meaning the data provided is not a live representation since it uses previous price action to pull its data and is unable to account for what is happening in the market in the right here, right now. Often resulting in traders missing out on the big power moves, getting into positions too late or executing trades with bad risk:reward setups. Not to mention the potential for many traders to rely on indicators too much and begin to lose their own edge in the market (imagine a double edged sword if you will). 3️⃣ Fundamentals Which are figures deriving from news events such as in an economic calendar, news & tweets etc. Actual fundamental news can become your best confirmation tool. However, the main obstacle right here is the promptness, validity and reliability of the data that you get. The information shouldn't be delayed and it must be objectively true. The search for such a source is by itself is a very time-consuming and labor-intensive business not even mentioning its potential costs. And that is not all. Knowing how to make sense of that data, its proper perception, and understanding requires a solid economical and financial background and experience. At the end of the day, becoming an expert in fundamental analysis, the trader can easily sort the trading zones and trade only the ones that are confirmed by a decent fundamental trigger. 4️⃣ Key Levels Us retail traders unfortunately don't control the market. There is an average of $5 trillion flowing in and out of the foreign exchange market every single day! And the majority of this trading volume comes from the big institutional players such as banks & hedge funds etc. Therefore, it's important to know where these big players are buying/selling & why... When analysing you pairs, you'll often see that price will naturally be magnetised to specific key levels. For example, key whole round figures that end in 0's & 50's such as 1.5000 or 1.5500. These are called psychological levels which the institutional market participants like to trade around purely for ease of mind. These levels on various pairs have stayed the same for decades and for many years in the future and is one important form of a key level. Trading these key levels will allow you to find great liquidity zones, rejection areas and break + retest setups.
Education
by NimmoCapital