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Higherhigh

BTC Update! Bulls give us our higher low and higher high!Love when charts go the way you anticipate or at least mostly. Last chart I mentioned I had scaled into about 80% of my position on the drop down and re-entered final 20% just over 10k on the first bounce up. Ideally I was seeking a lower high to set in around 10,500-10,900 as that would be a solid bounce and give plenty of breathing room for the bulls to then form a higher low. Bulls finished just shy for the lower high, coming in at $10,445. Overall pretty decent tho so can't complain other than I missed my first sell to take some profit off the tabel by $30. Oh well. From there we needed to see the bulls get their higher low compared to $9470 (our low of the pullback). They did this with a higher low at $9,740 last night. And from there we wanted to see the higher high come in compared to wherever the bulls set their lower high (as of yesterdays post we didn't have a lower high set yet as thats what I was hoping to see at 10.5-10.9k). So now that we did get the official level at $10,445. That was the lower high to beat so bulls could shift the trend back into higher lows and higher highs. The bulls did get us there today with a higher high thus far coming in at $10,539. So this isn't much of a higher high but technically is one. I'd like to see bulls give another leg up before coming back down for another higher low. This will give bulls back some control on 4 hour chart and also makes for much easier trading as traders just follow their stop losses up based on each new higher low being established. Personally I remain in full position as I just missed my first sell yesterday (and would have then rebought on the consolidation seeking the first higher low) but since I missed it, I then raise my first sell level in anticipation of the eventual higher high (which I'm patiently waiting for another leg up to give this higher high a bit more momentum). If bulls do trend back down that is fine and we just watch for our next higher low with $9740 being a key level to hold and $9470 being more critical level to hold. We must be cautious as 4 hour RSI has significantly cooled off now (remember the oversold 4 hour RSI is what had us begin scaling into positions initially). Also worth watching is our 4 hour EMAs I use (12 EMA currently serving as resistance and 26 EMA currently trying to give support). Overall trade is going nearly as well as one could hope for. A push for further momentum up tonight or tomorrow to really give this higher high some meaning would really help solidify the trade, allow for some profit taking to then have my personal stop loss area at about break even for the trade. Those are my favorite types of trades as they do allow for much more comfort knowing you won't lose money and it then turns into trying to maximize some profits. Sorry for long write up. I am now out of town for the weekend so will check back in Monday or Tuesday! Just My 2 Sats!
COINBASE:BTCUSD
by My2Sats
1
forexTrdr GBPAUD - MULTIPLE TAPS ON ASCENDING TRENDLINE HIGHERMorning traders We have a clean simple trade setup on long British Pound versus Australian dollar with an ascending trendline holding after multiple taps since the start of July following a Bullish Engulfing line on the daily at end of month. Additionally we have an ascending support on RSI and a crossover on Stochastics pointing to the support line once again holding and the pattern continuing towards high 1.80 area as the higher high and higher low pattern continues. We are offering more 4 months free signals if you sign up via the details on our profile Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Meta trader and most broker platforms. Good luck trading from the Team at forexTrdr
Long
by forexTrdr
BTC Update! Bulls stay in control! Not a ton to update here. We saw further continuation last night as we were hoping for to keep bulls happy. Ideally want to see bulls maintain 12 EMA support on daily and really even on 4 hour chart if possible. Bulls got above and stayed above 12 EMA yesterday on 4 hour chart with a test of support down at it today. Resistance from overnight is now up at $12,829 and $12,105 support on 4 hour chart. Daily chart has plenty of breathing room currently with low to hold still down at $10,761. Measured move on the sloppy inverse head and shoulders I had been watching a few days ago would give bulls a move up towards about $14,100. This would be ideal but definitely need to see more of a volume spike to start making that push. Just My 2 Sats!
COINBASE:BTCUSD
by My2Sats
BTC Update! Bulls get their breakout! Can they follow through?Last chart I was watching the potential of an inverse head and shoulders on 4 hour chart and expecting a break by today if the bulls were going to make it happen. Pattern didn't play out perfectly as it drug out a bit sideways but the bulls finally got some volume and their next leg up. So checking back in on daily chart here, we have our higher low at $10,761 established and now a higher high compared to our high to beat which was $12,064. So bulls have regained short term control here and seeking further follow through. I remain comfortably in my latest positions and would consider scaling out a small portion if bulls give another leg up tonight or tomorrow but overall am happy with these buys and considering a longer term swing position for them. But lets be patient, see what this week brings and if bulls can get further follow through and start to push back up towards our high of 2019 and get us over $14k! Congrats to the bulls as this pullback from the high certainly required some patience to re-establish trade positions but overall we got what we have been seeking the past several charts. Just My 2 Sats!
COINBASE:BTCUSD
by My2Sats
BTC Update! Bulls show back up!Yesterdays chart I discussed multiple things of interest to me. Mainly we were watching the slow grind of bulls setting lower highs and lower lows on 4 hour to slowly drag price lower. As I was typing up yesterdays chart was when the bulls were showing some life and trying to shift that 4 hour trend back into the bulls favor. I discussed the low of $9651 we set which was a 30% pullback and loving if that would hold for the low and was seeking bulls to change the 4 hour chart to higher lows and higher highs to have me personally back interested in trades. Also was watching for 12 EMA on daily to see if it could now act as resistance. We saw the close of yesterdays daily candle get rejected at the 12 EMA but only for a brief period. Within 2 hours of this we saw a short 3% pullback and then the bulls were off again. Overall we now have seen a 30% pullback from $13868 high down to $9651 and then a 20% bounce back up to $11576. I have personally re-entered a partial position off two separate areas. Pullback on the rejection from 12 EMA on daily which unfortunately only filled one of my buys due to the small pullback. And my second entry this morning when we pullback to just under $11k. I have more cash aside to buy for a further pullback here if needed. Ideal scenario from here since the bulls have set a higher high on 4 hour chart is a higher low to come in compared to $9651 and then higher high again for 4 hour. This would shift our trend back to fully favoring the bulls and can start the climb back towards $14k. US Holiday tomorrow so stock markets will be closed and shortened day today. Will see what that means for crypto market but I do expect us to trade within this range of $9651 and $13868 for multiple days now. I do believe the bounce off $9651 was significant enough to say that is our bottom of this pullback but need a higher low and then higher high from 4 hour chart to confirm. Our bounce up to $11576 this morning would be perfectly fine to have that be our short term high of bounce and a healthy pullback just eyeballing the chart is anywhere from $10,500-11k in my opinion. Thus far we have dipped just under $11k but would be fine with a slightly lower pullback to fill last of my orders for this trade. Would also allow bulls to establish a nice healthy support level just below and above $10k. Sorry for long write up, fairly lengthy day trying to set up trade positions last night and early this morning. Just My 2 Sats!
COINBASE:BTCUSD
by My2Sats
1
DXY - Further Upside Following FOMC ? Looking at the fundamentals this week, we have the CPI data as well as the Core CPI data being released on Wednesday with positive forecasts as well as the FOMC Meeting Minutes later that evening. We then have news affecting a variety of currency pairs as we prepare for the OPEC Meetings, otherwise known as the Organisation of Petroleum Exporting Countries. This group is responsible for 40% of the worlds oil supply which is a substantial % holding, so we can expect major volatility, CAD of course is the most effected pair correlating with Crude Oil. As well as this overall news occurring in the world, we have the PPI data release on Thursday with another positive forecasting. Jumping to technicals and we are still in this ascending channel that I have shown in a prior article, however, looking at a more refined channel ( this isn't hi-lighted on the chart ), but if you draw out another ascending trend line from the higher wick of the 9th of October in line with the higher wick of the 2nd of January, 15th of February and extended into the future, we can see smaller refined ranging price channel. Looking at this channel, as well as the monthly key level, we can see we are running out of steam and I believe we can see a pullback before going long on this DXY. The 61.8-78.6% Fibonacci level is hi-lighted in purple on the chart as well as the 71% Fibonacci level is laying on the weekly key level. We had a lower low prior and if price forms a lower high at this current price, we should be set to go short, HOWEVER, we have many significant higher low swing points and thus, I don't see structure as broken just yet. We also have a new potential Head & Shoulder pattern which will confirm price retracing and falling to the downside to test the weekly key level of 96.25 before going long. With this in mind, Gold should push up, allowing our targets of 1304 being met and a potential reversal/short I anticipate. My bias for the year has been bearish for Gold and I still predict a large downside move to 1260 price region. So this can set us up for a high R/R setup. Drawing a counter trend line from the head to shoulder, we have a 3 anchored wicks showing some favourable downside potential. I have a current neutral standpoint on this Dollar Index, but I expect price to fall before a continuation to the upside. As always, take risk/money management into consideration and follow these news events as volatility is expected and we can definitely capitalise on the volume around these news events.
TVC:DXY
by KeownArcher
Bitcoin Freight Trains Through Major Resistance Levels.Bitcoin update: After months of grind, the range resistance has finally been taken out in a spectacular short squeeze. Andrew described the signs that were leading up to this 1000 point move in 30 minutes in one of his recent articles about the coin float quietly being removed from this market. Coupled with a shrinking float, there are the participants who insist on shorting this market with a ton of leverage which builds up potential buying pressure, very similar to shaking a soda can before opening it. Now that Bitcoin has caught everyone's attention, it is time to put this move into perspective in order to better capitalize on the coming of a more supportive environment. My recent articles for weeks have been talking about two scenarios: 1) retrace to the 3500 area OR 2) Break out and look for momentum continuation. We don't pretend like the marketers do, instead we follow best practices and WAIT for the market to choose, and boy did it choose. The 4K resistance area was cleared, and so was the 4500 area bearish trend resistance, and even the 5K psychological resistance all in about 30 minutes. Now that's decisive confirmation. Based on our strategy, this market is no longer range bound and is NOW bullish. As for swing trades, we look for momentum continuation patterns to get long. This means we now WAIT for price to retrace to the 4300 or 4150 areas which are the old resistance / new support levels in play. As far as profit targets, this move highlights the 5K psychological resistance which price retreated from, AND the 5245 to 5812 resistance zone (.618 area relative to the 6K high). Just like the 4150 area used to be, these new levels are where we will aim to lock in profits and measure reward/risk from after a new swing trade signal appears. This surprise move also reinforces a very important lesson that many new traders completely miss. There is very little you can do to catch a 1000 point move in 30 minutes, EVEN if you are watching it unfold. It also looks easy after the fact, but anyone that has more than a couple of years of experience can tell you otherwise. This is why it is so important to employ MULTIPLE strategies. We don't just swing trade, because WE KNOW the limitations, we also carry inventory and have carefully cost averaged into a position with a cost basis of around 4300. All while being criticized and ridiculed when Bitcoin was pushing lows. Our performance record speaks for itself, and it has less to do with reading charts and MORE to do with patience. In summary, after a long and tedious grind, Bitcoin has broken out of it range bound situation and is poised to usher in the next bull market. We don't get excited or emotional OR buy more at the highs. We continue to do what we have been doing the whole time: focusing on higher probability setups rather than HOPING FOR HOME RUNS. While the gamblers were getting faked out or squeezed, we waited patiently for the market to provide clarity. Here it is, and we have a healthy capital base to work from.
BITSTAMP:BTCUSD
by MarcPMarkets
25