Movement
Crude Oil looks bearish for next weekOil moved upwards all week long so it must breathe a little bit. As it was because of speculation, we calculate it will go down to at least to 54.
We set some supports as reference, price may reach down to 50 but strength of this movement should be measured. We are placing long positions on short term and short positions on long term (our LOSSOL move technique)
Let's get some swag next week!
THE $LITECOIN BIG PICTURE STORY || POSSIBLE H&S FORMATION !!Watch closely as the right shoulder is about to make a critical movement on the weekly chart that could signal price reversal. RSI indicates $LTCBTC has been oversold for a significant amount of time. FIb levels on the weekly provide STRONG support levels.
Short BTC, short term -Opened short at 3950, stop-loss 3990
BTC is up for a correction to the bottom trendline.
RSI looks like it peaked and we're only making lower highs from here.
This doesn't concern BTC on the long term, I will take profit around the resistances at ~3300 and open long around the trendline there.
After that wait for breakout confirmation when we get to the end of this movement.
Good luck! :)
BTC ideaNow is the decision time for BTC again. The downward chanel was broken on the 20th of July and BTC nearly retested ath. Now the price is at 0.786 fib area. If we can apply Elliot waves and may this movements be the 1st and the 2nd impulse waves, then the third wave is approaching and by the 1st of august the new ath should be set. If we go downward then entry point should be somewhere around 2200-2300. For positive prediction: 1st target area is around 3k and the next one somewhere around 3300-3500. THE KEY for upward movements should be a breaking out of 2700. Happy trading.
How to use RangeMovement (RgMov) to trade the trendFor the subscribers to Key Hidden Levels:
Background info on the chart: Green arrows with lines to the right are "earnings releases" which I call "key hidden levels". The "volume profile" begins from the Presidential Election.
The red line near the bottom is the RgMov indicator (Range-Movement).
TREND: Determine the trend. The trend is when RgMov is hitting 44-bar highs or lows. RgMov is comparable to a running line showing how easy the market moves in either direction. RgMov is a running line of the market's movements which push up through resistance or down through support. From a sentiment perspective, rising prices increases bullish sentiment for a market, obviously. People get bullish when resistance gets taken out each day.
I found it makes sense to let RgMov tell you the trend (44 bar high = uptrend or 44 bar low =downtrend ) and then on a lower time scale such as 11 bars, find entries against the trend to enter the market. Note the green box at the bottom of the CCI(11) oscillator at the bottom of the chart. The idea is to buy on the 11-day (1/4 of the time) time frame when CCI gets oversold at -100 and exit when +100. I also recommend buying a cross above a previous day high when the market is oversold. You can also exit any way you want: such as using trailing stops under a previous day low or under a 10 day moving average of the lows. There are many ways to exit and you can split your exit across a variety of methods.
The profits from doing this rack up over time. We just need to stay disciplined. We chase other methods when there are times when this isn't making money. But if you learn it, apply it, and commit to it, over time you will see the light.
Aussie/Canadian Movement IncomingI'm going to be looking for movement here in this region. 3 things could happen.
1.) Pair rebounds quickly without coming close to the resistance/trend-line, in which case I will skip this trade.
2.) Pair falls further into the resistance zone and bounces off of the trend-line. If confirmed, I will enter long.
3.) Pair falls into zone and breaks below trend-line. If confirmed, I will enter short - or look to see if a double top is forming, in which case I will hold off on the trade until that is confirmed.
Weekly Journey X - Range movement, breakouts, support+resistanceAs you can see, there are 4 important points that might be the crucial checkpoints tomorrow.
Predicting that Nr. 1 is a 99% probability (the only way we can pass that range is if it gap opens
up or down by +-40 cents). Nr. 2 has 45% probability from Nr.1, Nr 3 has 55% probability from Nr. 1.
Nr. 3 has 75% probability from Nr. 2, with 25% probability of a continuous move downwards.
Nr. 4 has a 55% probability from Nr. 3, with 45% probability of a continuous move upwards. At Nr. 4,
there is a 60% chance of staying in range, and moving upwards, and a 40% chance that we will see
a continuation of moving downwards.
- Percentages are derived from my personal research that include news, "smoke", data,
recent movement, fibb lines, medians, support and resistance strength, fake/true breakouts and more.
They are also strictly my personal opinion. -
Probabilities and statistics are always part of my work, which I will publicly incorporate into
charts from now on after testing them for a month privately.
Nr. 2 is a very good point for a Long entry, Nr. 3 would be a decent Short entry, whereas Nr. 4
might be a solid Long entry if the MLH holds (staying in range) with a tight S/L.
GBP/USD,240 - BREAKOUT.GBP/USD has just broken out of the 1.33715 an area of key resistance following some news about the US economy. This breakout could push price action to around 1.34800 and beyond. I am anticipating a pullback from the highs of today back down to around 1.33715 which should then act as support, i will then enter long on this up to 1.34800.
EURGBP hits the price of Feb and Aug of 2013 | Weekly ChartHi guys,
This week the EURGBP hit the highest price after around three years. This area would be a strong consolidation period because, most traders believe that the history repeats it self and it is time to repeat and reverse the trend.; so traders will wait to see what is going to happen.