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BNB ready for a healthy pullback?Current Style of Trading: 4hr/Daily/Weekly Swings. Sentiment: Longterm: Bullish Short-term: Bearish (I do believe BNB will not fall to a yearly lower low given it currently sits well above it at over 200%, needless to say this can change and so will my sentiment if markets show me otherwise. Observations: Last weekly higher low at $5.94 RSI levels Oversold (weekly). Declining bull volume for the past 3 weeks. Topped out at previous strong resistance 17.50 level. BNB has been running strong for the past 13 to 14 weeks establishing a strong weekly uptrend, but the odds seem to favor a healthy pullback in the upcoming weeks to establish a new weekly higher low compare to $5.94 Possible pull back target: EMA 12 & or 26: It would not surprise me to see BNB at the very least retest the weekly EMA's allowing the RSI levels to cool off opening the doors to a break above 17.50 Also is worth noting the 50SMA a the time or writing is literally right above the EMA 26 making it even a stronger support in my opinion. I favor a pull back or at least a period of sideways trading taking in consideration the insane move BNB has had in the past 2 months or so, per technical analysis we know that a healthy pullback is needed to see continuation, having said that BNB can easily skyrocket in the event of extremely bullish news so please take this into consideration. (I am simply stating the most likely scenario in my opinion) My thoughts: keep in mind I'm not expecting BNB to drop a whopping 40% to meet the EMAs where they're currently located, to get a better picture we will need to pay attention at the Daily, 4hr and 1hr charts to find clues where the possible bottom of the pull back might be at. I will be patiently waiting for this pull back and oversold levels to make an entry, depending on the volume behind the bounce I will sit on my trade for several days or weeks, walking my stop loss along the way. Disclosure: Please keep in mind that this are simply my ideas on the market, I am in no way shape or form qualified to give anyone any financial advise. All I'm looking for is to become a better trader with time and the only way too do this is to post what I am looking at and take criticism from those of you that been doing this for a very long time, having said that please feel free to call me out on BINANCE:BNBUSDT BINANCE:BNBUSDT any mistakes, or incorrect analysis the best way to learn is from each other as a community. Happy trading to all of you!!
by jemk88
EURUSD - What Does The EU Economic Summit Have In Store For Us ?With the EUR looking ready to melt, we have however seen a spike to the upside, with BREXIT volatility as well as we saw the USD tumble across the board due to the FOMC statement and the Fed leaving the rates unchanged which should remain the same for the rest of 2019. Subsequently this led to equities rising as the USD weakened. Today, we will see the EU Economic Summit where we will find out whether or not PM May & the UK will be granted their request on an extension on Article 50. Friday, we see data releases from the French & German Manufacturing and Services PMI. Back to technicals and we can see that we have a 2nd touch off the outer trend line and we currently sit just below the 78.6% Fibonacci level . We were able to break the monthly key of 1.13000 with a lot of bullish momentum and we are approaching the weekly key of 1.15250. However, with that being said we can see strong resistance and wick rejections within the 1.14500-1.15000 price region and I anticipate the Euro to fall from this position. We can see selling pressure and liquidity being built up in this area which could potentially give us an opportunity to go short and see the weekly key of 1.11000 being met and even 1.09750 price regions being met. We were in a descending channel creating lower highs and lower lows with a new higher high being formed as we speak. This may be a trap to entice buyers however I see far more downside potential as we can anticipate the dollar to recover after FOMC dovish comments. If we are able to breach the weekly key of 1.15250 with no signs of rejection or bearish candle stick patterns, this analysis will be invalid. We can also see a "W" pattern being formed which could potentially bring this pair tumbling down so keep this pair on your watchlist. I'll be back with more articles later today, so be sure to follow and if you have any questions, head over to my instagram. Instagram : keownarcher
Short
by KeownArcher
1
EURNZD - Time For a Tumble We've seen a decline in the Euro since early January rejecting the weekly key level and breaking the monthly key seen at the 1.66250 price region. The Euro has seen a lot of pressure with fundamentals, Mario Draghi speeches and certain rates being held till the end of 2019. EURNZD has seen a nice clean break and retest of the counter trend line and pinged off the 61.8 Fibonacci level. This should give us a nice push to the downside with my first take profit around the minor support seen in pink on the chart, which lies around the 1.64250 psychological price region. We can also expect a bit of consolidation as we sit in a zone where we've seen multiple wick rejections and the may be building up a large amount of liquidity before the market can see a tumble. As always, trade with correct risk management and lot sizes suitable to your account and have a great day! More articles on the way later today. Instagram: keownarcher
Short
by KeownArcher
CADCHF - Can The Bears Override The Bulls ? Okay, so not a pair I usually trade or analyse but it was requested and I humbly accepted. So we can see bulls are in control at the moment, I see an upside move of around 80 pips before we can see a good reversal zone met. I will be looking for the descending trend line to be respected between the 71%-88.6% Fibonacci zone. This will also be a good rejection from the weekly key and we can look for bearish candle stick patterns to indicate a reversal and then our next Lower High will be confirmed. This will then be anticipating a Lower low to continue the downtrend and we can see price drop of around 250 pips. Stop losses will be just above the weekly key. Instagram: keownarcher
Short
by KeownArcher
1
$SPY - Reaching 2017 Levels$SPY - we saw the weakness we talked about yesterday in the market. Continuation selling for Friday. Still no sign of strength or bounce action. We will be looking around the $235 market where the 200ma is on the weekly chart as a significant line of support for the market to catch itself and get back on its feet. Scary times. Trade small we have noticed even trading the inverse ETFs like the TVIX, SQQQ, UVXY, TZA our hold times are much shorter. Inverse ETF bounces are getting bought up which gives us great opportunities to get in on support on TVIX when the market looks weak. Exciting holiday trading for sure!
AMEX:SPYShort
by BullsOnWallStreet
Short Squeeze + Discounted price = Bear NightmareAs we make the "Three Drives Pattern", the bear shorts will come in even heavier - one final time We have an obvious ascending channel and we need to follow the trend. Weekends are typically higher probability for bull runs. Stocks are climbing Fundamental Analysis: Retails investors don't want to miss out on "the bottom", even though this is not the bottom. They are in the belief that the market was manipulated to drop, so Wall St can by at discounted prices before 2019 Technical Analysis: Retail Bulls are waiting for BTC to hit $3,600 again before buying (but it won't), and will realize they missed out (especially on a Saturday) and FOMO in big time at the end of the 3-Dives Please leave me your thoughts, I appreciate the feedback -racethehair
COINBASE:BTCUSDLong
by racethehare
1