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TRXBTC MBA Trading Academy T/A FridaysNew structure forming in a bullish direction breaking out of trendline with HHs and HLs. Waiting now for a retrace to support and form another HL and wait for a confirmation candle on support being held. Once held entry at .00000180 Entry at .00000180 in on course to bounce off center bollinger bands, extra indication as it heads back to support and confirm an entry. First TP 50% at previous supply and if hit will move SL into no risk trade Last TP higher again at previous supply. If entry goes south then I am confident it will respect new trendline and let it play out, SL below previous structure. Expect entry in the next 24 hrs Expect trade to play out over the next 5 days
Long
by brisamoto
NZDUSD Short, MBA TA fridayMarket structure good, HL and LL's, has pulled back to the 61.8 fibs from the last big push down. Has started to respect new downtrend. I think it will make a new LL but with the current global problems I will look to take profit on the 50 Fibs from last push up just incase. I have opened two positions, One a safer position with stop loss above last HL and second position with tight stop loss to gain maximum RR. Will look to hold second position and wait to see reaction once it gets to 50 fib and 61.8 fib. I expect to be holding position for 1-3 weekks.
Short
by mattrobo3
1
XRP BTC MBA Trading Academy T/A FridaysHave located a potential bear flag on the 4 hourly, although daily momentum is heading down with LLs and LHs. Waiting to see if the daily EQ can hold. If we break out of this bear flag to have a shot at the next supply zone. If daily EQ cannot hold and we break below then i am looking at following trend down to the next demand zone. Either way i will need a break and retest with bullish or bearish momentum depending on which way we break to confirm my entry for either scenario. Stop loss will be set above / below previous market structure once we get an entry. I will have a total of 2 Take Profits for both trades, one roughly in the middle with my final at supply or demand. Trade should take approx a day or 2 to confirm an entry. I am expecting 4-6 days for trade to play out so around a week in total from time of writing. Chart by Phil Roberts.
by theProfessor_7
IOTO/BTC long opportunity MBA TA fridayswatching price for two potential trades. 1. price is consolidating on strong daily support. Looking for price to break and retest resistance (2270) for a long entry. Stoploss below previous structure will access once placing the trade. Take 50% profit just below demand zone, watch price here to see if volume is picking up and trend looks strong, if so let the rest ride with stoploss moved into entry or profit. 2. Buy the bottom of the channel (2100) in antcipation of it breaking to the upside. take 25 % profit at top of consolidation area and watch if price is creating HH HL. If we break to the upside similar strategy to what was mentioned above. 50% at demand let the rest ride zone. Expecting trade to last about a week.
Long
by kaelenwere
QLC Chain QLC/BTC Daily Binance AnalysisQLC Chain QLC/BTC Daily Binance Analysis QLC Ranging between 120-235 satts respecting both levels. Looking for a swing from the bottom of the current channel, to the top when the short term down trend is broken. Because QLC is such a low satt coin, position size would be very small and only 0.5% Risk on this position, if a trade presents itself. Looking for an entry off a clean break and retest of trend with an obvious Higher-Low to be made. The market structure of this is currently still bearish, however I will be watching for a change as price is squeezed against the current downtrend. Only if the change in structure is clear will I take this trade. Things to consider; - QLC has been trending down for 56 days since the 6th of Feb 2020. - Wicks to the downside every time price comes close to the current support around 120 satt level. - RSI starting to structure up as price beings to squeeze. - MACD crossed to the upside with plenty of room to move. - Recent move closed above middle Bollinger Band. Risk management; This trade would be a very small position due to the risk of low satt coins. Also there are large wicks in both directions that could potentially stop you out of a position easily. To help offset this risk I would be moving stops to break even if we reach Take Profit level 1. Time frame; Due to the low volume of this coin and judging based of past moves, if a trade presented itself here on a breakout, I would expect it to take approximately 35 days. This is not a short term trade.
QLong
by JordanSimmons
LINKBTC - Short term long 1hr TFRetraced to 61.8 and closed above, Currently broken out of down trend next resistance is at 0.00034128 which is just above where i'd enter. so placing a buy stop a bit above resistance 1 Take profit at 0.00036344, Last TP is a trailing TP following at -1% to catch any lucky dip pumps. RR for the trade is 2.0 expect the trade to play out by tonight, mid morning tomorrow at the latest Watching to see if Elliots waves starts to play out as well, may lead to further potential trades
Long
by TraderPistolPete
ETCBTC 240 BinanceEthereum Classic / BTC 240 Binance ETC testing the bottom of the current range, while respecting the short term down trend. As price gets squeezed here I will be watching for a potential long opportunity if we break trend and create a higher low on the retest. (If price breaks to the down side there will be no trade) Will be watching for 2 things on the break, volume and bullish candlestick structure. For example a bullhammer to break trend, followed by a small pull back and a bullish engulfing. (which would be my entry signal) If the break is weak, with low volume and wicks to the upside, there will be no entry. If the retest is still towards the bottom of this range it will give a good RRR to enter, around 3.5:1. Time frame: I think this trade could take 9-10 days to complete. I will manage my risk on the trade by moving my stop to break even as price reaches take profit 1.
Long
by JordanSimmons
Weekly Bitcoin UpdateIts been an interesting week in the financial sector across the globe, a lot of fear and doubt in the global economy right now with the corona virus, banks, unemployment and trade wars. A lot of people putting focus on that being the cause of some of the movements in the crypto market and although it may have a slight effect i don't see it as being the root cause, when in reality its no different the every other time bitcoin has done something similar. Anyway onto the technicals.... The main focus is on the HTF trend analysis which still has a bearish bias over all with a series of swing high failures, and lower lows pushing further into the gutter channel. The retracement from the last daily point points pits the 618 level around $7880 USD which also coincides with a major supply block between 7500 and 7900 so this is the major target Im looking at right now for the next big more. I an see a fairly easy picking EW count using trend based fibs and its pretty close to sticking to the rules right now currently on the E retracement leg looking for one last rally up to the 1.61 extension completing the 5th wave. We will be paying close attention to this point to load up on a larger short position with the intention of the current HTF trend continuing and making another Lower Low deep into the 3k barrier but the ideal point to re-asses the situation is around the $5400 mark right now. If we can hold support in this level and see bullish activity or a momentum switch on the HTF i will consider the long approach. Playing the short term long right now and looking to close as we get closer to the supply block and stagger out of the position, don't want to miss the out.
BITMEX:BTCUSD.P
by MBA_Trading_Academy
1
AMD Review- Broke first trend line. Now in descending wedge pattern. Candle closed below support at 61.8% FIBS level, current candle pulled back but hasn't closed yet. - If 61.8% support does not hold, the descending wedge will continue to 78.6% FIBS support (first red circle). This area will see price action (break up or down) from descending wedge. Area also coincides with earlier trend line. Would be a good entry if we weren't having a pandemic. If it holds, wait for multiple bounces off of the trend line and signs of reversal before placing buy orders. A break and close above 61.8% resistance would be a good indicator. - Break and close below 78.6% FIBS support and trend line would signal a 100% retrace. Wouldn't be a crazy thing to happen given the current state of the market. Possible entry position off of the 100% retrace support line. Same rules apply as entry positions off 78.6%. Wait for multiple bounces off trend line and support. Could be very dependant on how this virus plays out. - If 100% retrace support and trend line don't hold then it will likely fall to "Pandemic support". This is a strong support with multiple bounces and coincides with a long-term trend line. Depending on the timing (how long Corona hangs around for) this would be a very attractive entry point for investors. Again, wait for reversal patterns (big candle wicks to the downside, double bottom, inverse head and shoulders, etc.) before entering trade. Unless you're feeling frisky.
NASDAQ:AMD
by Goatie_22