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Bull Principle.I don't like to speculate too much, thus I am very cautious when mentioning anything further than a few days from now on into the future. This idea was born as an answer to the question pitched by fellow trader - nickrandy1 . Respect! Simply two charts. The #1 major reason why we are going sky up is mapped above - the FINISHED correction model xyzwxyzwxyz (or wyxzwyxzwyx, if it is more comfortable, doesn't matter). Divergences lie, channels lie, SMAs lie, voodoo-doll-forecasting lies as well. But this market looooves following the same proportions again and again. And the same correction models are observed over and over. The chart is screaming in our faces with accumulated groups of 1-2-1-2-1-2 waves(initial waves group, expecting multiple impulses on multiple timeframes). We are slowly but STEADILY moving up towards the Papa Ponzi's Pump(PPP) that may inflate btc hundreds percent! 9k? silly target, 100%! 10.5k? reasonable. 11.5k? good for the third target. 14k? smart to save some btc, it may pump further... 24k and even further.... (I am very skeptical on this. 11.5k sell - the way to do it) Yeah, btc may die in 5-20 years, but people live in the day. Until that moment this beautiful inflation bubble is easily pumped more and more and more. And no one is able to stop it! A perfect opportunity... If it goes as planned, this is just the end of the very first accumulation phase, out of the three expected. (1-2- , 3-4- and 5-) Consider the m30 chart: We can treat the waves (since 3 Jan) on 30m chart within the boundaries of the Wave Theory as some fully formed 1-2-1-2- legs or a 1-2-3- part of the unfinished 12345 impulse... and the 3- third wave is just getting started in any case! The 3rd wave (starts in a few days already?) should be the longest one ;) out of all three expected to form in the case of bullish scenario playing out. The previous 4k impulse: Now look at the current chart: Anyway it is reasonable to assume, that 8700 9k, 9.5k, 10.5k, 11.5k and even 14k - all are good targets for the next few weeks. New bottom is definitely less probable than some new highs right now. We are in the bullish territory, 100% confirmed. Notice the death confirmation level - 6767 . Anything below promises a 100% death for the Rally and starts a new bearish trend for the following weeks. So if we're trading above 6767 - there's still a chance for the Rally. This number is defined with respect for the very base principle of the Wave Theory - wave #2 never retraces 100% or more of the wave #1 height. The next few days may get very tense, volume-wise =). Be safe, stay bull. P.S. Fellow trader, fire that " like " button if agree ;)
COINBASE:BTCUSDLong
by orbborisson
GBPCAD Short position in the making Context: The GBPCAD dropped more than 10% from May 2019 till August 2019. The pair then recovered almost all its losses, just over 9% from September 2019 to 1st week in December 2019. Price: The price is now at an historic monthly resistance level and is also struggling to totally break free out of the uptrend resistance trend line which started from a high that was formed in July of 2019. Politics: Price behavior imply that the pair is oversold, and a lot of weakness has already set in. Meaning, the professionals are busy building short positions at the historic resistance support line and monthly resistance level. Brexit vote today might just be the tipping point to assist the professionals with their already prepared short positions to come alive. Action to consider: Short positions with the necessary money management rules in place is likely to yield good results.
Short
by FrameTheMarket
S&P 500, looks extended but it's about to break outThe market broke through the last high but lots of bullish volume leaders in the stock market have yet to move up from their pullbacks. Large companies like Apple and Tesla took market cap but the smaller stocks that yield higher gains haven't moved. If you look at the RSI on this trend you can see that it hasn't gone up nearly what you'd expect it to for the prolonged rise in the market. I think it's going to keep rising and it's going to close the gap on the 30 week moving average sideways instead of dropping on it. Go ahead and look at the SPGI, it has not broken through it's previous high yet and it's indicators are bullish. The global market will contribute on the rise of the S&P 500.
SP:SPXLong
by eneakume
1
Trading Journal on GBPJPY for intraday 29 Oct 2019Hi everyone,i try keep updating my journal analysis for better and better understanding in market behavior. This is my analysis on Intraday for pair GBPJPY. During Asia Session price try to test and take liquidity at highest yesterday price at 140.243 and go down for for almost 40 pips and failed to make new low which is indicate price want to retest latest high and yet failed to make new high and during London open market- seller enter market at high price and go down for 63.8 pips and reject at low monthly candle at 3 Dec 2018 at price level 139.495 and go up due to several low impact news. Trading Conclusion 1)Price failed to make new high from previous high(140.259). 2)Price go down to take find high liquidity and reject at low monthly candle 3 Dec 2018. 3)Price will try to test new high for today at 140.300 and 140.500-140.600 4)or,Price fail to break today high and try to make new low 139.350 and 139.050 5)H4 chart shown that price failed to make new low and looking for uptrend for coming week. Anyone feel free to comment and review my analysis for better understanding in market behavior. Thanks for Like and comment.
Long
by MxNadhir
BTC Flippening: Roadmap for 8K, 12K, and beyond.This sort of sums up all the targets being called out from on high, but in a way that combines fractal flipping, chart patterns, and waves. We were all expecting something big on September 11, but nothing happened. Or maybe BTC flipped again. The flip traces sort of a mirror image of previous prices. Looking at a chart patterns site, it was intuitive to visualize how well the broadening bottom pattern would fit the BTC flip hypothesis. It would form a symmetrical fractal ending on December 24, repainting previous big moves in crypto. The points are not random. They fall on the Friday of each week. Why Friday? Because that's payday, when the weekend starts. Friday is the day stock options expire worthless for 90% of retail traders. It's a day when institutions have taken that money and moved markets many times before. It seemed necessary to predict prices going low enough to take out stops, and then bouncing up for a bull trap before committing to larger down moves. Expect the unexpected in the short term. And then zoom out to see how it all fits. Institutions and CFDs seem to enjoy painting obvious daily patterns like these on charts for their trading educators to stand on. They entice undisciplined speculators to open margin accounts for 100x wreckage on small moves. The tops and bottoms coincide with support and resistance levels extrapolated from previous price action and are not set in stone. But it would be interesting to see how many are hit. And there is still plenty of room for doombear barts in the holiday aftermath with their jaunty 1-2K predictions.
COINBASE:BTCUSD
by Hellork
1
30 Min Chart Swing Trade XBTUSDHey Peeps I outlined the very recently formed support at around 8293-8226. We had two bounces off there. I don't see it dropping below this region and closing. The resistance is as outlined, 8429-8462. We need volume to break it. Volume is on its wayinvalidate the support/resistance. down as you can see. Play these zones with caution. Think about stop loss placement, if you place it to tight, you will be stopped out. Place it within parameters that would I would also like to leave with a bit of advice I stumbled across. It has greatly impacted my style of trading. If you are planning to close a position because a trade isn't going your way, immediately open a trade in the opposite direction. This way, you will be able to catch market movements and be profitable. Also, you won't be too hasty to pre-emptivley close a winning position. Note: this is the 30 min chart. You can dive further into a 15 min chart to seek more zones for scalping. Let me know what your swing/pivot points are.
BITSTAMP:BTCUSDShort
by PrinceSinbad