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VIPS low-risk buy, high reward potentialThis is a short term play that, if all goes well, could turn into a long-term play. NYSE:VIPS is currently at the bottom of a micro uptrend channel (orange lines), looking to test the two major trend bear trend lines on the 4hr and Daily. I'm using a low risk entry on the bottom of the channel with a stop under the low of today which would be a confirmation of an exit of the channel. I'm using a profit target based on stock remaining in the channel and resistance at the Daily trend line (solid light blue line). There will most likely be resistance at the 4hr trend line (light blue dotted line) but a break of that trend line should give enough momentum to test the major Daily trend line. Move up stops under new lows that remain along the bottom of the upward channel, let the trade continue if it's a winner but take the profits if the channel fails. This is a 15 minute chart. This is a step back on the larger time frame, the Daily, to show the major trend lines that could serve as major breakouts if broken, especially if they are retested once broken and hold to show confirmation. On the weekly chart, there is trend angle play dating back to 2012 (red line) that could come into play. If it does get broken, retested and held with confirmation, then VIPS is looking at a long term major reversal to the upside. This is a long shot but the potential is there if the 6 year red trend line comes back into play. But let's stick with the original game plan on the micro trend channel on the 15 min chart and if it keeps going, great. Remember, risk management is key! Tomorrow is another day! Good luck!
NYSE:VIPSLong
by NicAdams
BTC Update! Break down and not re-testing resistance!Jumping off yesterdays chart I was looking for either a break down below 3 close supports (6475, 6452, 6425) or a break up through 3 close resistances (6610, 6640, 6642). We saw the break down but it was a weak bearish move with the first break bouncing right off $6452 and giving a small bull bounce before eventually breaking down to $6399. I personally filled at $6410-6418 area and missed my fills in the $6300's with plan of just using $6320 as my stop loss for a low risk trade. Today was uneventful until about an hour ago where the bulls made their move. I then moved from SL thinking to profit taking strategy and set my first sell at high $6500's due to seeing the 3 resistances at 6610, 6640, and 6642. We topped at $6603 but bulls trying to make their move now to get into those $6600s. I will now be patient with the remainder of my position to see if the bulls can break it. If they do not, I watch for consolidation and a 4 hour higher low and then continuation up. If bulls break down, it allows me to exit safely with a SL and know I already took some profit to make the overall trade a profitable one. These are smaller profits in an overall bearish market but same strategy applies, low risk entries with never a fear of losing more than 1-1.5% on this trade from initial entry and now feeling comfortable knowing it's profitable. Just My 2 Sats!
COINBASE:BTCUSD
by My2Sats
1
XAU/USD PitchFork MADNESSOn this chart I drew the forks on the main swings, as i was looking at the chart all this fibonacci wooowooo became clearer and clearerer.... btw we looove the wooowooo. You are probably looking at some of these fib values and wondering where they come from or if I just made them up to suit me. NO! My mentor backtested all of these over 15 years and thousands of charts and i am eternally grateful for that. The circled points are the main Energy points that jumped out to me, but thats definitely not all of them. The Green Horizontal lines are overlaps of up to 6 different Support&Resistance in combination with Fibonacci values. Again these INS lines are not random, they are S&R that is being calculated based on previous day price action, so as of monday they will change again but we do see some nice reverse compliance over the past. This post (comment) is for educational purposes only. Past trading results DO NOT guarantee future performance.
FX:XAUUSD
by AlexandreFXKG
Crypto Trading Method That Made Me A Millionaire* Use Crypto/Fiat Pairs only for this method * Buying when a short term bubble busts in worthwhile cryptocurrency projects is how I became a millionaire. I'm gonna share a very basic method for doing this, with an example opportunity. Look for a chart with the basic exponential rise, the "hockey stick up", the top of the bubble, which then finally crashes back down with a big sell off. This pattern happens repeatedly across Bitcoin 5.91% and also Alt-Coins. When to buy? It's basically a spin off the %B indicator: %B = (Price - Lower Band)/(Upper Band - Lower Band) Instead of the "Lower Band" from the Bollinger Bands , we will use the the last lowest consolidation price, where prices were basically flat for an extended period (deemed as the 0%). Instead of the "Upper Band" from the Bollinger Bands , we find the high of the bubble, after it has crashed (deemed as the 100%). A great entry price for buying is anything <= the 30% level between these two prices. So for Particl the "Upper Band" to use is roughly $50 and the "Lower Band" is roughly $9, the difference is $41. And 30% of $41 is $12.30; add that to the 0% level of $9, for roughly $21.30. Therefore, you can be sure that anything lower than $21.30 is a great price. That's right now guys! I think Particl is a worthwhile cryptocurrency project, well-funded, with a solid dev team. Also looks like we are on the cusp of this project's most important software development release, their long awaited decentralized marketplace which is focused on privacy. Buying in before software development releases is also a great trading method. I try to get in at <= this 30% level price and hold through at least the next pump. Rinse and repeat. Cheers!
PLong
by seraphimos
4