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USDJPY Long Trade SetupHello traders. This chart is very clear in daily timeframe. I'm expecting a new up impulse after corrective structure. In 1H, I think up move was reversal impulse and now, a correction is in the making. The down move can be the whole correction or wave A in bigger structure. It is not clear at this point, but putting an entry order looks like a good idea. My plan is taking breakout trade. If I can find any entry after the breakout, I will take it and remove the entry order. Trade with care...
Long
by WaveAnalysis
GBPNZD Short Trade SetupHello traders. Like all other GBP charts, this one is making a big corrective structure for weekly down impulse. The correction could be over at the previous top. It is not clear yet, but I want to take short trades if I can find any good trade setup, because of the potential of down move. In 1H, it looks like a flag is in the making. That's why I put an entry order. The current risk of this trade is 3% of my account rather 1%. When it tag my entry, I will move the stop loss above the flag. So, my real risk will be something like 0.5%. I'm doing this because if it goes down impulsive, I like to be in the trade with a nice lot size, but if it reverses and stops me out I don't want to lose 3% of my account. If up move creates bigger correction, I can take another short trade. Trade with care...
Short
by WaveAnalysis
XAUUSD Possible Short Trade SetupHello traders. We don't have any trade setup yet, but we can have one soon. I'm waiting for a correction to take a short trade. On the other hand, the structure between yellow lines can be a flag for more upside and the blue line is 0.786 retracement of down move, so it can be the target for upside. If it goes up one more time, I will wait for reversal impulse and correction to sell it. My medium-term target is the completion of this weekly regular flat: If you think this is a valid forecast and good trade setup, please hit the like button and share. I appreciate that if you leave a comment and let me know what do you think about this idea. Trade with care...
OANDA:XAUUSDShort
by WaveAnalysis
CHFJPY Long Trade Setup... Maybe This Time.Hello traders. This is my 4th long trade setup idea. The first idea stopped out with 1% loss, other 2 were canceled because it made lower lows. Now, we have new on. I have an entry order above last top with a stop loss below the last bottom. I'm trying to catch the daily up impulse. It will be a very big wave. The possible target is 123. Hopefully, it will make a bigger correction, before it goes up. So, a trade with the greater risk-to-reward ratio can be found. Please check the related ideas for more details. If you think this is a valid forecast and good trade setup, please hit the like button and share. I appreciate that if you leave a comment and let me know what do you think about this idea. Trade with care...
Long
by WaveAnalysis
BEPL Chart Analysis - for Short to Medium TermBEPL looking like in Consolidating and Forming the " Descending triangle " pattern on day charts. Price recently got rejected from 50% levels recently and moving side ways with lower levels. Although its making strong support at 155 - 160 levels, but looking at overall trend and nifty , price likely to break the support. This confirms the bearishness and confirmation of "Descending triangle" pattern breakout. The first demand point will be 135-140 where we can expect minor retracement. If price fails to hold above level, we can see 110-120 levels, which happens to be Major demand point and we can expect price reversals strongly. Investors are advised to Use "Buy in Parts - Buy in Dips" strategy until they see a clear hold of mentioned levels.
NSE:BEPL
by chanakyak
Current breakout does not mean correction is over; 13.5 possibleYes, this could be the break out of a triangle and be the sign of a recovery back to 13.5, but that does not mean we are 'out of the woods' just yet. There is still room (some would say 'hope') for a final correction. This is not because I or others are 'haters' or want to buy BTC cheap but because a deeper correction (or completion of the pattern) would be better for the long term future of the BTC price. Why? It would remove the people out of the market who are still trying to recoup some losses (late buyers) and some people who are long time holders but who have lost faith. It might also attract new, large investors, who use analysis and reasoning to determine their best entry moment. They do not have FOMO, they have models, calculators and computers. And rulers. Simple rulers. I expect that we might rise to 13.5 creating the perfect point where retail investors are getting hungry again and larger investors will sell off one more time, to buy back between 9 and 10. It might come a bit sooner at 12.8 or (unlikely) later, but it will come. Simply because there is no straight line growth. When there is, like between 8 and 19.8 (Nov 25th - Dec 17th), with very few meaningful corrections, the market becomes overheated and a severe correction is certain to happen. That is why I hope we will follow a more natural growth pattern this time. I also expect that we will see more hefty corrections all the way up 19, as many retail investors (small and large) are still holding bags bought at higher levels and will be glad to sell these and leave the crypto market altogether. Now, nothing is guaranteed of course and as some will point out, TA is not a science and nobody can predict the unpredictable. So, your trades are your own and this is not advice to buy or sell. Be careful trading on weekends.
BITFINEX:BTCUSD
by henkybaby
BTS/BTC Binance Elliot Waves, Cup and Handles. Clear time to buyWith time, and observation comes understanding. A day of Elliot Waves and cup and handles led me to believe I could time this right. And wow did I surprise myself. I have never drawn on a chart, I have never done anything other than observe and trade, I see other peoples charts (Credit to Thomas, AlanMasters and Haejin) and if I don't understand something I learn it. This is my application of some of the things I have learned in the past 10 days. Enjoy and please feel free critique the work. (I am still getting used to the tools on TV)
Long
by jackdavidpiney
2
BTC and BCH Fork-Related Market Psychology HypothesisSorry I'm new to this platform, don't hate on my un-sightly graphics Assumptions: 1. The majority of transactions for BTC and BCH are completed by speculators, because: High fixed costs in entering a profitable mining cycle means miners enter the market based on their long term projections from the fundamental aspects of the coin, not short-medium term TA. An exponential uptrend in trading volume is likely spurred by dumb money entering the market after seeing basic price uptrends. This comes after a greater deal of publicity to cryptocurrency on mainstream media. 2. The majority of Miners are NOT Speculators: Major buy and sell volumes have coincided with the classical MA Intersection Point Strategy, easily understood by new traders. Given the previous assumptions, it can be contended that a significant portion of transactions on the BTC market have been done by speculators seeking short-term profits. Now before you tell me that I am speaking the obvious, this is why the former fact is important. There are 3 major factors at play in influencing the downtrend of BTC: 1. (real recession) BCH Mining and Fork: Incoming BCH fork gives investors a real reason to withdraw their position from BTC and invest into BCH. 2 . (Inflated recession) New Investors: High trading volumes through-out bitcoins rise to 7.5kUSD means people held bullish positions in BTC and will likely want to panic sell (arrow (3)), leading to a higher down-sloping gradient - otherwise known as an inflated recession. 3. (Inflated uptrend in BCH) New Investors: Along with the real value gained in BCH, people will likely just want to surf the uptrend in BCH and make a quick 10%. This will lead to many people withdrawing their positions in BTC just out of euphoria (inflated boom). Projected Outcome Given most of the market is speculative, and the tendency to buy at the dip (as in the China ico ban), a significant volume of buy trades will occur at a certain price of BTC. As with the current recession, the bullish trend will be inflated by short-term speculators jumping on the uptrend. This happens every 2 weeks. Support Price: Likely close to 5k given current trend lines that every newbie trading BTC will have drawn.
BITSTAMP:BTCUSDLong
by MANofAWE
ICN buy timeThe speculative bubble on the ICNXBT pair has pretty much fully retraced. Now, the orange line and the green trendline together form a strong support area at the 450-500 level, that should hold and it has done so in the past four days. The price is now being squeezed out of the triangle formed by this support and the downtrendline, wich is a bullish signal, although in this case quite a weak one. If bitcoin keeps rising, it will lift up the entire market and provided FOMO doesn’t kick in for bitcoin, ICN should start rising versus btc again. Right now there is a lot of FUD around the utility of the ICN token, and crypto investors looking for quick profits are getting annoyed that there is not a lot of communication coming from the team. Recently however, Jani ensured investors via comments on Reddit that ICONOMI as a business is doing amazingly, compared to other crypto startups and also compared to regular startups. One example statistic: on average, 200k usd flows into BLX per day. In the future this will only go up, when the DAA management platform is released, and after that when marketing ramps up. To me, the ICONOMI team have never seemed like untrustworthy people, rather like people that want to create a fair and successful business, be the best in the game. Jani ensured us that patient investors will be rewarded, and I believe him. Therefore, this coin looks fundamentally very good, and it seems highly undervalued. The top 50 ICN wallets think similarly; they have all accumulated more coins recently, as a redditor pointed out. As for targets; around the 0.5 fib extension of the previous rally is a significant price level, as this also corresponds to a previous fib extension, the pullback level of this downtrend, and approximately the ath of ICN's dollar value. I see this as a medium term target, but the way there will no doubt be a rollercoaster.
ILong
by Repelsteeltje
3
Short term, Medium Term and Longer Term Outlook on Ripple This will be a short term outlook (up to 31st July), medium term outlook (up to 5th August) and longer term outlook (up to 20th August) over the next month for Ripple. Short Term First I would like to bring your attention to the bearish pendant formation which is aqua-coloured. The price is near completion of the pendant but still needs a price increase to 19cents to complete the pattern. I believe this will happen as within the pendant, an inverted head and shoulders pattern is forming and to complete the right shoulder, price needs to increase. This re-affirms the bearish pendant pattern. On the MACD histogram, it has formed a higher low as indicated by the yellow trendline signalling that selling momentum is fading. However, there is some conflict as it shows the fast ma crossing downwards the slow ma. I believe that this signal is not strong as this is a trend confirmation signal. By looking at the ADX, we can see that we are near the lows (Lowest point given by red horizontal line, highest point given by green horizontal line) and that we are not in a trending market but ranging market, thereby nulling the ma cross as a factor in our deduction. Further pointing to an increase to 19cents up to 31st July would be the decreasing selling volume over the last 3 days. From these factors, I believe a price to be expected is 20.765cents in the short term. You may ask why it is not 19 cents as that is where the triangle ends, but an inverted head and shoulders pattern signifies a breakout and therefore the take profit target is at the previous high. Again, the question is asked, if it is a breakout, why the price would not surge past 20.7cents. This leads to the medium term outlook and my reasoning why the breakout is false and is a "fade breakout". Medium Term In the Medium term outlook we begin on the 31st-1st of August. This is where segwit2 or split decision will occur for Bitcoin. On July 21st there seemed to be a general consensus no split was to occur and segwit2 will occur, but fear and uncertainty has risen again as more people oppose the idea of segwit2 pointing to a split (If you would like to read more, here is a link: thenextweb.com). From this uncertainty and likely chance of a split, I believe bitcoin's value will fall, if not from the result then from the uncertainty. Altcoins have some correlation to bitcoin and therefore I believe Ripple will follow suit. The next question is, how far the price will fall. A price target 1 for the fall would be at 16.412cents. This price target has been forecasted from the bearish pendant (aqua colour), where the magnitude of the move after the pendant should be the same as the move going into the pendant. A second more ambitious price target for the fall would be at about 12.5cents (yellow line), this is the base of the pendant that will be discussed for long-term outlook. Long-Term Within the month or more specifically 5th August to end of August, I will attempt to forecast the price. On a longer scale look, a bullish pendant has formed (shown in yellow). After the completion of the short-term and mid-term price action, the bullish pendant will be complete. At this point, price will break-out from the pendant and move the same magnitude as the move leading into the pendant. (Please note that after the medium-term move, the price could range for a while, be it 1 day or 15days, be patient for the breakout). I believe the price after the breakout will increase to an ambitious target of 52.208cents. Always manage your positions, an initial take profit can be taken at 30cents for those that are more risk-averse. This is my first time posting an idea on Trading View, if i'm missing anything or you believe something different will happen please let me know as i always look forward to feedback.
BITSTAMP:XRPUSDLong
by TheTraderJ
2