Mbatradingacademy
Whos Ready for a Pullback???XBT has failed to break resistance 3 times now.
overall trend still bullish however we are long over due for a pullback.
I think we should see some new market structure here and perhaps a drop down to the demand zone. I will be watching closely for shorts
XBT/USD 4hr
LTC/BTC Is price ready to break to the upside? After a big sell off that we have seen with LTC/BTC pair since the start of February, price has been consolidating for the last week failing to make lower lows,
Even tho we haven's seen a clear change yet in market structure im waiting on the sidelines to see who's going to make the next move.
If we start making moves to the upside I will be looking to take a long position if it breaks and closes above resistance with a retest of support.
ETHM20 Bitmex RetracementConsolidation then drop to previous resitance.
Fibs from High to Low
Looking for entry on the previous supports for a short
BTC- Is today the day ?Are the bulls in control or the bears ?
Looking at my chart you can see it has already broken out of the downward trend we have been in since 2017, The bulls weren't strong enough on the 7th of May to keep the price up we immediately come down and tested the 200 day moving average before coming back up again, Having another crack at the 10k resistance before dropping down and then testing the overall downtrend which acted as support. We have had 4 touches this month at the 10k resistance and you know what happens when support and resistance areas are tested more than 3 times ? It gets weaker and eventually break through.
So we will have to wait and see what the next move is on the higher TFs.
Personally i am bullish. The 3emas have are starting to fan out 20 and 50 have crossed above the 200 (golden cross) and if you look at each time the fast moving averages have been above the slow moving average it has been on a run, And now we are again approaching the 61.8 price will need to break through it to make a Higher high otherwise its going to be a violent sell off like a red waterfall .
Thanks for reading guys
Hope you enjoyed my analysis.
XAUUSDXAUUSD - missed alert as was sleeping. I had alert set on dotted trendline to try and catch an entry at bottom of triangle but missed it. Will set two orders again and hope to catch the bottom one last time. Am overall bullish on gold and think we see it hit $1783 which is weekly resistance last touched in 09/2012.
Bouncing around the 61.8 before another move to the upside.After a 17% drop over the weekend we now are back in a nice consolidation zone.
this level is right on our 61.8 fib level,
it also lines up with previous structure before we seen a move to 10k.
Short term we may head down and test the trend. IMO it wont break that overall trend and we will see another move up.
I am seeing a lot of these candles in this zone which have wicks to the downside.
That indicates buying pressure. I will be looking for longs off the trend.
Trend bias still telling us we are bearing for the minute
XBT/BTC 4hr
ADAM20 09/05/20ADAM20 9/5/20 14.00 ADA break out trade falling wedge, price broke resistance @536 (on 4hr) looking for a move to the up side to 1st TP @558 just below resistance @560 level 9RRR 2.1:1
ADAM40ADAM20 9/5/20 14.00 ADA break out trade falling wedge, price broke resistance @536 (on 4hr) looking for a move to the upside to 1st TP @558 just below resistance @560 level 9RRR 2.1:1
ETHUSD Eth 3 day chart looks interesting here, could it possibly break up or do we think it could fall back first. Above 50,100 & 200 MA on 3D chart, made a very slight LH instead of LL last time. Let me know what you guys think, 1 2 or 3? Which is most likely in your opinion? Please comment and let me know your thoughts.
h&s inverted h&s trialing a support push to previous supportinverted head and shoulders potential 4.4% from entry
GBPUSDGBPUSD looks to be trading in a triangle, will look at reaction on bottom trend line and possible take a small long position.
BTC 8h chartBTC - update, 8h looks as if it could break either way here. Either long off the bottom of triangle or wait for the breakdown and buy at blue box. If it drops and hits the box that's a great buying opportunity I think. Currently ETH looks more of a clear set up so I am already looking for entries so I will not entering btc here.
NAT BullishNAT - Broken downtrend with very high volume, Divergence on macd from last LL's. Above middle bollinger band. Breakout volume biggest ever monthly volume by a mile.
STNG Bullish possiblySTNG - With oil prices so low and demand reduced due to corona virus there is excess oil needing to be stored so bullish on tankers for next 1-3 years. 2/3 last times it has broken middle bollinger band on the weekly chart it has done 100% moves, the other time 30%. Could be forming a nice curve bottom here. Volume increasing. Needs to get above 50MA and will turn bullish. Could be a good hold for the next 12 months, watch carefully.
spx500Spx500 8h -Bearish possibility - Enter off LH which is also right shoulder. Already hit the 61.8 fib level at last high and rejected. Currently 200MA is acting as resistance. LH on macd, divergence starting.
Bullish possibility - Stop loss below last low, market structure says bullish. Strong bounce off the lows.
ADAM20 05/05/20Noticed pull back between 61.8 and 50 Fibs level
looking for continuation of down trend
at time of entry small inverted hammer
enty on @ 558 (10x)
stop @ 557 above 61.8 Fib level
1st TP @ 533
2nd TP@ 511
expecting trade to play out in 3-4 days
Bitcoin break out or rejection?I still find Bitcoin to be stuck in a HTF down trend channel leading back from the high mid to late last year.
I understand some fundamentals at play with the halving coming up and the Hash ribbons indicator indicating the minors are accumulating again but on a technical stand point of view where we are now just seems like the idea position to trap a lot of retail money and short it down.
I'm looking at the down trend as holding for a rejection but if we do push higher on a break out I'm looking at that next supply zone as the potential resistance.
Ultimately i see us bouncing on this EQ for a few more days and then looking for a break to short down to the last demand that was created, although i find is a very weak order block and wouldn't be surprised if we push lower again.
I will start to do my Weekly analysis on bitcoin and post it here for our students in the MBA Trading Academy to see and monitor
Keen to hear everyone's thoughts but im only looking short to mid term on Bitcoin right now
Eos hitting triple bottom good for a long....little bit riskyEos hitting low on the daily, lots of support at this area I'm seeing a big long position, my stop loss is a bit tight.....
Lets see what happens???
AXS200 possible set up.Failed to make a HH here so far and also a bearish daily candle here, wait for a new HL to form before considering entry. Macd losing momentum as well.
XBT has made a full recovery from Covid -19!!!!XBT has created new market structure and we are back to the price level pre covid-19
There is strong resistance to break with an equally as strong supply block, the next supply level isn't as strong (due to only a small consolidation zone before it) meaning we could easily break though it.
XBT is a no trade zone for me at this stage. I will be looking for shorts if the retest fails to close above resistance.
The demand zone is very strong with a decent consolidation zone before it and lots of previous structure. if we make it back down there, in my opinion it wont be for long.
XBTUSD D
