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BTCUSD Key Levels for Longs TodayBitcoin Coinbase Update 12:52gmt 07:52est Although it's rallied above the 8768 line and held the the little retest the rally from there has been very lame so far. Looks to be waiting for more buyers going into US open. They need to be there or this long shot will get stopped ...raising stop to 8810 as if it gets hit it will come back to the 8768 line again most probably. If so will look to buy again around there if stopped out at 8809. It will need some volume to arrive soon along with buying interest for this long to stay good from here. Bitcoin Update Coinbase 10:53gmt 05:53est Since making a high at 9763 and missing the upside target by fully 100 points - sorry for that, missed it by a country mile - Bitcoin has lost nearly 1200 points and is now resting on the lower parallel. But there is little interest showing right now, even at these lower levels. A safer potential long lies not far above here and it looks prudent to wait for better confirmation than we have right now as this continued lack of interest is making a long from here just too risky. It has to break back above the dynamic from the recent high to attract any more buyers. It's a safer buy/add only once it can achieve this, needing to break and hold above the 8768 line as it does so with stops below 8750 when broken above. Small spikes above and below price on the 15 minute chart shows the indecision here at the 8700 level On the downside Bitcoin has to break below 8600 to trigger further weakness/short back to 7760 and 7584 .
COINBASE:BTCUSDLong
by sumastardon
4
Bitcoin: BTCUSD Key Levels and Breaks for Sunday Trades Bitcoin Bitfinex Feed Sunday Update The first short yesterday from 7049 was stopped out at 7061 for a 12 point loss. Bitcoin went on to make a high after that at 7071 - a poor stop by 12 points. This is my bad here, not the chart's - just a poorly judged spot for the stop. Sorry for that one. Anyway the second time it broke 7050 gave another chance to short and this time when it next counter-rallied the high was 7038 and the short stayed good if you took it on the second time around. The low today is 6615 on Bitfinex. Last gasp support today lies in an 80 point range from 6615 down to 6535. Bitcoin should try a rally attempt from here so look to close out shorts in this range. The next short from here triggers once 6600 is broken, aiming for another test of 6000 with stops 50 or more higher once broken. On upside some day traders will reverse long down at these levels for a test of the falling dynamic at around 6850 but it's quite a risky trade and until that same litttle dynamic is broken to the upside Bitcoin will remain vulnerable. The rally we are seeing now should stop there and day traders will likely close out longs there at around 6863. Bitcoin will have to break above this dynamic for the rally to be worth following higher to 7221 with stops under the dynamic when broken above. But any potential swing longs will have to wait for 7221 to be broken above to follow long with stops 50 or more lower. Until we see that happen Bitcoin remains under pressure but cannot be shorted again from here until 6600 breaks.
BITFINEX:BTCUSD
by sumastardon
12
BTCUSD Bitcoin Key Levels for Wednesday TradesBitcoin Wednesday Update Key Levels Today Altough we made over 500 points on the downside yesterday and 200 or so on the upside the last long from from 10755 went wrong and we were stopped out for around a 50 point loss. Sorry for that one. Bitcoin has since fallen away and back down the same parallels after making lows at 10400 on Bitfinex in Europe. A little morning buying interest has pushed Bitcoin back up to retest the upper parallel and it is trying hard to break above it now. But it's still too early to think about a long from here. Need to see it break higher still and reclaim 10625 on Bitfinex to trigger a long now, looking to buy the next dip once 10625 is beaten with stops 125 or so lower. Until then, no long trade looks feasible right now. And on the downside Bitcoin is still stuggling and vulnerable whilst trapped within the parallels of the impulse wave. A break below 10400 here by much more than 10 points will tip it back into bear hands and force it lower still, down through the blue support lines as low as 9285. A potential long trade set-up and also a big short if triggered too. The chart will decide the next move and trade for us from here. We can follow.
BITFINEX:BTCUSD
by sumastardon
14
BTCUSD Bitcoin Key Levels TodayBitcoin BTCUSD Key Levels Today Busted out of the long just under the target at 11738 on the Bitfinex feed with the high at 11700, some 38 points shy of the final completion target. Cruel Bitcoin. We were looking to short from the target - those who did so have been rewarded for their courage. If you were one of them then well done to you. It was close to perfection, but not exact. Sorry for that. So now we are short and looking for a test of 10740 line here before a decent bounce where we can look to close out any shorts - think it will bounce but fail here later, coming back to the lower parallel at 10448 on Bitfinex where it should begin to rally again. At all costs 10448 must continue to hold up throughout the day today. For any failure here would tip Bitcoin back into the hands of the bears again who won't release their hold until 9285 is tested. If we see this develop today we can short again - but right now we need to keep an eye on the lowest parallel at 10448. It must hold up today if we are to avoid a serious day of damage unfolding right across the entire market. * For updates in real-time please see top left of main page
BITFINEX:BTCUSDShort
by sumastardon
37
FTSE 100: UK100 Key levels and Trade Set-ups todayFTSE 100 UK 100GBP Key Levels and Trade set-ups today This chart shows FTSE's great 9 year rally from start point at the lows of 2009 to the end point on 11.01.18. This cycle forms part a longer 9 year year cycle that was described and shown in last FTSE comment. The lines of support and resistance are clear and should be helpful in coming trades... FTSE has bounced excatly where it should have (last comment) and rallied to exactly where it should have within 3 points or so. Day traders and bottom fishers have closed out where you'd expect looking at the lines and now left FTSE vulnerable to further selling pressure...looks quite likely to restest the 7085 line here and if this cannot hold it will fall away further still to 6904 and just under to 6870 - but it should try to put up a fight at 7085 if tested later - it's most likely the key level today, being positive above here and negative below. On upside it has to break above 7210 and hold to trigger a long up to 7294. Markets are due to remain voolatile - A break below/above any blue line should lead to a test of the next one. But run stops around 30 points higher/lower than the trigger levels and trail up/down. Still expect a bottom to be reached between 3rd and 10th March as per last comment but it can whipsaw in between and should present some decent trades (with stops) as a result.
OANDA:UK100GBP
by sumastardon
Bitcoin BTCUSd Key Levels TodayBitcoin Update Key Levels Today Bitcoin spent a really slow day slowly grinding higher until it hit the dynamics waiting above it to smash it back down again. It did manage to get as high as 10330 but couldn't hold on to the vital 10262 level on Bitstamp - but the bulls wouldn't quit and eventually they drove it up to test two converging dynamic resistance lines by midnight EST - at which point the bull game was over again and it's fallen in a straight line of red ever since. For the last 4 days Bitcoin has faced a barrage of selling when London wakes up. We were looking for a short back to 9371 and the low today so far is 9333, so it should be closed out again now. It's falling away to test the long term dynamic support at 9300 with more support at 9200 and is now a speccy buy with stops under 9300 and below 9200 at lowest, looking for smallish rally to 9600-9700 and then close out again. Returning to the downside, 9200 at lowest must continue to hold up on all tests today - should this level fail at any point we return to full-on bear mode, looking to short back back to 8993 initially, then 8058 once 8993 breaks. The next significant support below here lies at 7415. A break below any given level by more than 30 points should lead to a test of the next listed level. * There is another way to receive updates throughout the day but it's intended for full-on, active and experienced traders of Bitcoin only (please see top of Sumastardon page for further details)
BITSTAMP:BTCUSD
by sumastardon
1
BTC Key levelBTC key level idea ... Strong support/resistance level here, will have to watch whether or not bitcoin can sustain this level. If it does, the bull trend will continue until next resistance, if it doesn't, expect more downtrends. text bubbles from left to right: - once broken, the price comes back up to retest it. here, having failed the retest, it crashes down to sub $11,000 levels to find more support. - - once again support found here but quickly broken and after an unsuccessful retest price crashes to sub $12,000 levels - - resistance broken, now coming back to retest these levels, strong bounce would be super bullish, if these levels break expect another retest and then either a drop to sub $13,000 levels or if the retest succeeds then a strong rise to next $18,000 resistance.
BITFINEX:BTCUSD
by deniskov
Bitcoin BTCUSD Update and key levels todayBitcoin Update The break above the flag after far East opened had just enough power to take it back to the previous high of the day but not enough to break higher still - it really had to achieve this in the first hour after the break above the upper parallel of the continuation pattern - but only double topped before falling back once more to the break-out level before rallying one last time to a new high for the new day before getting sold off as London opened (hight at 08.30GMT). That pin bar created in the process means there is some serious near term selling power overhead. If you have raised/trailed your stops as each blue line is regained by the bulls (to just a few points under the line once broken above) then only about 200 points more profit have been locked in*. Those that got long when 14002 was broken above and held for the second time - with a technically near-perfect restest from above coming soon after (see chart) - have been rewarded with an 1800 point gain, so far, if not stopped out higher still. But it's a heart-breaker if you followed advice to raise stops to 13675 - the low was 28 points lower - turning a really good trade bad for those who followed it. Worse than being wrong, the most painful of all trades are those that are right but with wrong stops. The lesson for 2018 is to know that stops need widening now from 50 to 100 points in past to 100 minimum and 200 to 300 maximum -because price has more than doubled in the interim period. So if still long here we need to raise stops to just under the 14539 blue support line. Bitcoin should reach a minimum upside target at 16887 as a consequence of the reverse head and shoulders but to stay good in the very near term it must now continue to hold up at 14539 at lowest during the course of today - any failure to do so will trigger a short back to 14010 with a stop 100 lower if we see it. On Upside, The first minor resistance is here, at 14900 and Bitcoin has to push through here to stay positive now in near term. It's likely then to move sideways to up to retest 15077-15130 range and then to consolidate again before moving higher still, with each blue line being the likeliest points at which to expect near term resistance/consolidation to occur. So we stay long, looking to increase positions on a break above 15500 for further strength up to 16506 . Bitcoin only turns negative from here if 14530 gives way - only then do we enter into short positons again, looking for retest of 14010, where we would look to reverse back to long again with stops 120 below, at 13880 . *For newer traders any break above an upper flag parallel must have enough power to carry it above the last high (top of flag-pole to immediate left on chart) and should do it within the next hour or so of the break-out occurring - some flag break-outs only have the power to double top and some are full of intent, as we saw with the first flag breakout from the 13770 level yesterday. So, for future reference: watch the break-out in that first hour after it happens - if it stumbles and creates a little pin bar on 15 or 30 minute chart right around the last high it's a good clue that buying power is waning here - this is when Chart V Heart problems can arise - you want to stay long but the chart is saying it's topping out and losing upside momentum - you must follow the chart at that point, especially if the next candle starts red from the outset and cannot make it above the last candle. It's VITAL that you study breaks - they are our life-blood, the things we need to open new trades. Get a good understanding of breaks and failed breaks and you will be 80% of the way to making good returns on trades and not letting profits slip away because your heart ruled your head and the chart therefore got ignored. Overcoming natural human emotion and managing stops are our 2 biggest challenges as traders - not identifying patterns and trades.
BITSTAMP:BTCUSDLong
by sumastardon
2
ETHUSD Range and key break levels for today ETHUSD Update Risk Management Today Neutral whilst Trading between the lines, but great for day traders whilst it lasts. Left this as a sell off the underside of the lower parallel at 469 but it only reached 468 before it came off...two little pins off the underside was enough warning to exit and traders had plenty of time to see it form and take action. We looked to buy back at 455 and since then it's risen to hit the underside of the same parallel - and what was once support is now resistance to the upside in classic fashion...so that was a sell again (was banned from updating anything for 12 hours last night for making honest error of uploading a Litecoin chart to the sad little fellow who haunts the gold chat room on TV. So was banned because he reported my error and some jackbooted apparatchik moderator shut me down. Who would have the time to go report someone for making an error? Who are these people ffs?) So couldn't update this beautiful chart action...anyway it's been fantastic to trade in and out of if you've followed the lines on this chart which are unchanged from yesterday with addition of the new uptrend line which had formed here over the last 48 hours. Fairly obviously it's a buy off the new uptrend line supporting the entire move and a sell off the parallel above it...until the chart tells us it's changing. It either pops above the parallel and then comes back to test it from above once popped, it holds up ...very bullish outcome. get long again...you have missed about 3 points and a massive risk (if it fails from the parallel and you haven't closed out at the high). And alternatively if the uptrend line supporting this entire move gives way at any point it will come off to 446 again and potentially to 433 should 446 give way at any point. Something has to give here pretty soon now. Be ready for it. Follow what the chart tells you. Chart not heart. Always
BITFINEX:ETHUSD
by sumastardon
Bitcoin: BTCUSD Update/Key LevelsBitcoin Update Key Levels from Here Stopped out of longs at 7700. Bought aagain at 7680 with 50 point stop early in London. Lucky you if still in bed! We should be long again from 7570 now as per last comment, and stops can placed under low today (7530) by 30 points, so 7500. And for day-traders and those wishing to run tighter stops, 7717 is still the line in the sand, the freeezer lid. Whilst 7717 holds up all is good for Bitcoin bulls. So stops can be placed just under here, at 7700 - because if it should fail it's likely to retest 7530, bounce and then move sideways for a while. And, just in case, it's worth noting that 7530 is last gasp support now for the bull case, so it that has to hold up at lowest on any retests from here - but that can't happen whilst 7717 holds. That's Good. The freezer lid. There are 2 changes to the chart for the first time in 2 weeeks since the previous high, so the support line that was at 7570 has been lowered by 40 points or so and the lower large parallel (and therefore the upper ones too) has been adjusted too. The parallel is still not as perfect as it should be but refuse to try to force some pareidolic fit, so it just can't be completely trusted - but it's the best clue we have that the force of this upwave is still good. It's interesting that the 8000 level has been struck - that was Goldman's predicted next high - hats off to Jafari there - day traders will likely llok to book profits here once more bagging a quick 400 points from 7570 entry. So we should get some sideways movement... but whilst 7717 holds this can start to be viewed as a long term hold.
BITSTAMP:BTCUSDLong
by sumastardon
EURAUD- Awaiting solid confirmation then.... LONGWere in a bullish trend here :) -This daily trendline has held for our last EA Long so I think it will hold again -ABCD Structure -FIB on here from most recent A to B wave watching the 0.618 as usual -There is some AUD news coming out later this evening to bare in mind if we get it. -So I'm looking for a good amount of rejection...some long wicks and reversal to enter -Bare in mind a break of this TL we could be going south Follow me on instagram and twitter: jackmyattfx for more ideas
Long
by jackmyattFX
4