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BTC Retracement to the Tenkan LineCOINBASE:BTCUSD should be pulling back to the Tenkan line as it's been off the Tenkan for a few days now. I had originally thought that pull-back would have already occurred but it appears we are going to head to the bottom of the Kumo Cloud (around $12k) before we get this push back. I do not see us breaking through the Kumo Cloud without retracing back to the Tenkan Line. After we get back to the Tenkan I believe we will make a run up into the Kumo Cloud and test the $14.5k zone.
COINBASE:BTCUSDShort
by MadCybertist
Bull TrapBitcoin has always been a bull trap, investors got In early before praying on a rebellious section of the population to propose itself as the death of banks the end of inflation. little did these dumb money investors know they were in the deep end with sharks everywhere they are still dying praying for recovery which is entirely possible, but trading is dependent on a smart mature mind. do you panic when you see your stock falling? are you over leveraged? are you being greedy? its a beautiful game, long term I hope bitcoin and other cryptos show the world there potential so I'm all for it. ill be analysing and looking for a yearly position id like to see 5k again first happy trading give me a thumbs up
BITSTAMP:BTCUSD
by Felthamtrader
Crude Oil Continues Moving LowerCrude moved lower on Monday but ended the day in the middle of the daily range, unable to break through Friday's low of 46.74. Price also tested the weekly Pivot Point above at 48.13 but was not able to break above that mark. As long as crude trades below that Pivot Point, it indicateds that price wants to keep moving lower. The Heikin-Ashi chart showed a slowing of the downward movement with an inside candle today. However, the trend is still solidly red. If you like this post, please click the Like button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
NYMEX:CL1!Short
by GoldBands
Crude Tests Higher After Inv RPT but Falls Below Key LevelsCrude tested higher this morning after the weekly inventory report showed a bigger than projected sell-off of inventory. However, WTI Crude failed to maintain it's bullish run and ended the day below the 2 important key levels. Those levels are the 21 day moving average @ 48.41 and the monthly pivot @ 48.13. And while the Elliot Wave Oscillator has not yet crossed below the 0 line, the haDelta indicator has printed a new magenta dot which indicates a new downward wave is starting. This gives the confluence of 3 technical indications to support the move down to the 45 to 45.50 price area. Nice downtrend now on the Heikin-Ashi chart. If you like this post, please click the Like button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
NYMEX:CL1!Short
by GoldBands
Crude Oil Moves Down $1 but Fails to Close Below RangeCrude oil closed down $1 today. During the day, my first price target @ 48.36 was hit (I mentioned that in last night's post). Crude did hit a low of 47.73 but was unable to stay below the 48 price level, and in a something of show of strength, rebounded almost a dollar off the day's lows. The closing price of 47.73 was just 2 cents shy of the 21 day moving average. So while the late day rally did show signs of strength, the technical indicators are still showing a more bearish outlook. First, there's the haDelta which has just printed a new magenta dot. That indicates a high probability of another downward wave. Second, the EWO indicator has been moving down since May 25 and is close to a zero line cross. Third, the Heikin-Ashi candles are red and starting to show signs of a continued downward trend. The key levels right now are 21 day moving average and the Primary Pivot Point (orange lines). I've added the standard Pivot Point indicator to the chart and set the type to Fibonacci. The P level is currently at 48.13. A break below this level will increase the odds of a continued move down to the lower Bollinger Bands. Crude Oil inventories come out tomorrow at 11 am EST. This is on Thursday this week due to the Monday holiday in the US. There is also other news tomorrow morning including Jobless Claims at 8:30 am EST and ISM Manufacturing PMI at 10 am EST. Expect some news generated volatility and protect your trades accordingly. If you like this post, please click the Like button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
NYMEX:CL1!Short
by GoldBands
Gold is Range BoundHi all, I've just gotten back from my extended vacation. The precious metal is range bound and looks like it wants to move down before completing a move up to tag the upper Bollinger Band. The weakness is appearing in the haDelta indicator at the bottom of the chart. A magenta dot just printed which means that the smoothed delta SMA is crossing over the non-smoothed delta. And since this is the second magenta dot in the latest upswing, it does suggest the price will either consolidate or move down. The Heikin Ashi chart below is also showing a slowing of the uptrend. Let's see if we get some clarity over the next few days. In case you're wondering about the new yellow Bollinger Band, I was watching a video that John Bollinger had posted on YouTube and it that video he mentioned that one should try using Bollinger Bands of different periods. So I've added a new Bollinger Band (the yellow one) and set the period to 50. This creates some interesting technical levels with the 21 and 50 BBs crossing and interacting with each other. If you like this post, please click the Like button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
COMEX:GC1!Short
by GoldBands
Crude Oil is Range Bound But Looking to Hit Support AgainHi all, I've just gotten back from my extended vacation. Boy has there been a wild ride for crude, starting last Thursday. However, since then, crude has been stuck in the lower part of the range, which by the way, retraced to 38% of Thursday's range. Crude has already the 21 day moving average and it looks like it wants to test it again. If have a take profit order sitting at that 21 day moving average but will then let the rest of my position ride and see if price wants to break through and hit the lower Bollinger Band. I was listening to a video that John Bollinger had posted on YouTube and it that video he mentioned that one should try using Bollinger Bands of different periods. So I've added a new Bollinger Band (the yellow one) and set the period to 50. This creates some interesting technical levels with the 21 and 50 BBs crossing and interacting with each other. For instance, notice how now the 21 and 50 BBs are stacked at the lower end of the range. That makes the 45.50 price are a very interesting target! The Heikin Ashi chart is confirming that price is range bound and as you can see in the chart below, we've had a green doji followed by a red doji. Hopefully we will get more clarification from the Heikin Ashi in the days to come. If you like this post, please click the Like button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
NYMEX:CL1!Short
by GoldBands
Crude Closes Down .57 After Inventory AnnouncementCrude Oil had another down day on Wednesday, declining sharply after the inventory report was released. You can see the sharp selloff on the 30 minute chart below. Attempts to buy up crude at discounted prices were meet with renewed selling. All the indicators on the chart are red and pointing down. As I am going on vacation Friday, I'm hoping for a tag of the 47 level tonight or tomorrow. The Heikin Ashi chart is clearly in a down trend. If you like this post, please click the Lick button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
NYMEX:CL1!Short
by GoldBands
Natural Gas Stalls, Bollinger Bands ContractIn a clear sign that Natural Gas is range bound, the Bollinger Bands have flattened out and are contracting. Yesterday's closing price was trapped between the 7 and 21 day moving averages and today it is trading slightly above them. Monday's tag of the cyan Bollinger Band (1.5 standard deviation) signaled a potential renewal of selling but the lack of follow through supports the idea that price will be range bound for the time being. If you like this post, please click the Lick button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
NYMEX:NG1!
by GoldBands