Exponentialmovingaverages
LTCUSD Litecoin CryptocurrencyApproaching Price Targets 144.00 and 146.00. So far, price action is moving as planned. We got the pull back into dynamic support and resistance which is the exponential moving average period 10 and exponential moving average period 20. We got a pull back to price level 124.50. We got a price action signal which was a bullish engulfing bar after the breakout... after closing above 124.50.
Now a channel formed and the channel diagonal level was retested with pin bar/rejection candle.
Wait For A Pullback For an Entry (Target Price 146.00)Wait For A Pullback and Pin Bar For an Entry.
Wait for price to pull back to the exponential moving averages. Look for price to pull back to horizontal support resistance line and dynamic support resistance (exponential moving averages). Next, watch for a bullish price action signal like a pin bar at horizontal and dynamic support resistance levels.
LTCUSD Trade Opportunity (Cryptocurrency)Next entry is at 109.77 for a Buy. Wait for the candle to close above 109.77. Next watch for a buy signal at 109.77. Watch for a bullish pin bar. Or a bullish engulfing bar. Enter at a "higher low."
Bitcoin Enters a Consolidation PeriodAfter an astonishing breakout of the $20,000 resistance, Bitcoin appears to have entered a consolidation phase between $22,000 and $24,000.
Consolidation Importance
A bull market without any correction or consolidation is like a building without a foundation: it is shaky, and can collapse at any time. Therefore, consolidation helps bring stability to the market. When an asset is consolidating around a price level, that price level becomes important. Thus, the $22,000 and $24,000 price levels will likely act as support or resistance long into the future.
The Hourly Chart
Although we usually use the 1 day or 4h chart to showcase the current trend, the 1h chart is also among the most important timeframes. Many swing traders identify the trend on the 1 day and 4h chart, and use the 1h chart to time their entries and exits. On the other hand, intraday traders use the 1h chart to identify the trend direction, and then time their entries and exits on the 5 minutes and the 1 minute chart. Therefore, the hourly chart stands as the bridge between swing traders and day traders, making it one of the most used timeframes. Generally, the more popular a timeframe is, the more reliable it becomes.
The 150 EMA, which works well on the 4h chart, also works well on the 1h chart, albeit slightly different. On the 4h chart, this indicator can be used to point out the long term trend, and by long term we mean the trend of the next 1-6 months! On the 1h chart the 150 EMA can effectively determine the medium-term trend that usually lasts between 1-6 weeks. If the price starts hitting it sporadically in a short period, it may indicate that the uptrend has come to an end, and we are in a ranging market.
Sugar Trade (Entry at 0.14392) (Take Profit at 0.15120)Enter SUGARUSD at 0.14392. Take Profit at 0.15120.
Gold is in uptrend , all negetive movments make it ready to flyin the daily time frame gold has reached its short-time downtrend channel.
if you check weekly , Gold is just here to make a kiss to EMA50.
i think gold is in a Healthy uptrend but we must wait for weekly price action signal .
i don't buy just now, i would buy after weekly confirmation.
How to use MTF T-Line (8 EMA)T-Line stands for Trigger Line and is 8 EMA, concept invented and taught by American trader Steven Bigalow.
He uses daily 8 EMA and stays in trades as long as price is above or below 8 daily ema. If price closes below or above 8 daily ema in the opposite direction he exits.
I went further with this concept, implementing Multitimeframe 8 ema trading system which is very effective. For that one needs indicator able to plot higher resolution EMAS on lower resolution charts (Moving Average Collection by Wataru Inoue can do that - www.mql5.com - better than TradingvIew MTF ma function). But you need a powerful PC (8 GB RAM at least) as many PC freeze when applying MTF indicators especially on many charts.
For exits, reversal or entries you may add Pivots (Camarilla, Fibonacci Pivots seem to be most effective resistance support levels, especially longterm ones yearly, monthly, weekly). But you are free tp use Ichimoku, daily, monthly, weekly highs, lows or whatever level tools convinient.
At least this system will help you to stay on the right side of the market. This sytem works well with gold, oil, sp500, eurusd, btcusd and many other pairs.
Good luck my friends!
EURUSD is resting to do a big jumpEURUSD has broken its resistance of 1.2000 after a consolidation of 130days.
it also has broken major resistance of 1.21000 strongly.
to continue , this pair needed a rest, last week eurusd was in a bullish flag and one time tried to break that.
the zone of 1.21 is a key level i think. in this zone we have major SR zone , and as you see in 4H the EMA50 is waiting for price just close to 1.21
I personally will open a long position in this zone just in case i see a 4H signal .target can be 1.25000 but of curse we will face barriers near zone of 1.22.
just note, if price close lower than 1.2100 it can come to start from 1.2000....so wait for signals....
position will be long anyway but just keep an eye on zone of 1.21.
nice bullish flag and a silence before the storm after breaking of a 4 months range , now EURUSD is making a nice bullish flag.
closing beyond this green flag can be start of a big movement . the 1st target would be 1.24900
Gold is in 1st plan yetjust according our last forecast, gold respected to EMA50 in weekly time frame, for 3rd time and started again.
the long-therm uptrend is valid since price is up 1790 area.
but in the short-time we can have a small retracement .
Personally,I will long just in case i see a price action signal on SR zone of 1790-1815.
my 1st target would be 1round 1890.....but ....gold can fly beyond the 2000usd soon or a bit sooner.
flying after a rest after a consolidating for around 4 months , price broke the long-term downtrend line.
in this moment retesting has been completed. just as price is a bit stretched from its average , i will wait for a small pullback to open a buy position with very nice RRR.
