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Nifty on monthly charts- exhaustingWhile Nifty 50 on weekly charts still looks positive and we await signals on alternate time frames to see for signals, lets have a quick look what the monthly chart is suggesting Observations : 1. We have seen (you can see my other post on Nifty Next 50) that the Next 50 stocks are not making new highs like the Nifty 50 (sign that not very broad based move, not very positive) 2. Monthly chart is showing that the momentum is slowing while we are still above the trend line, which price has been testing over the last few months. The real body of the candle has been becoming smaller but the volatility has been increasing , more on the downside, which means bears are trying to push the price down, however, bulls somehow managing to close higher. 3. There is also a bearish divergence between price and RSI, Price moving upwards over the months starting from Jan 2018 upto now, however RSI has been sloping downwards . 4. If you observe the candles from Jan 2018 till date, you will also find that while price has been ,making new highs, the retracements downwards have only slightly made higher lows, very close to previous lows on intra-month action basis, again signifying some kind of exhaustion in prevailing trend . 5. In June 2019, Price made its attempt to close at peaks of 12,124 after opening just below the crucial 12,000 mark, but the bears rejected this price closed near 11,154 levels. From May to July the rejuvenated bulls tried to beat the 12,000 mark but were thrown down stronger to test 10,250 levels Look out for multi time frame analysis on this on my other posts. If you like what you see, please share a thumbs up Cheers
NSE:NIFTY
by LoveForCharts
Its not getting a lift anytime soon.. Where to start? The loss of $900,000,000 a year? The loss per share of $9.02? A growing impatience and anger with Lyft drivers? I believe people must have thought that Lyft would pop at IPO but its been declining since going public. Except the same with Uber, as they lose almost double that of Lyft every year. Ride-sharing companies are not a sound investment and they have plateaued in terms of innovation. Sadly, ride-share companies severely hurt taxi and black car services, putting many out of business because of how popular it became. So, this means ride-sharing is doing good? At a loss of $900,000,000 - $1,800,000,000 dollars.. no one is profiting. Not taxi, black car, or ride share companies and neither the drivers. Lyft will need to raise prices on rides soon or face problems with liquidity as well as mass driver walk-away. Once they raise prices, the advantage of ride-sharing will disappear. If you are holding at IPO price, it's better to take a loss because it doesn't seem like Lyft will be coming up anytime soon. There are almost no new products, markets, or innovations that Lyft can come up with to bring in a boost in share prices and optimism. This one is a major sell. The line includes days of up and down, but it will fizzle away. Target ? $25 or lower.. where it will play around flat until some major announcement will spike it up, than fizzle away again. How fast? No one knows.. December showed us how a bear market and fear come into play, things could go south in a matter of days when fear comes into play.
NASDAQ:LYFTShort
by WorldEconomics
GBP/USD – Weak recovery attempt posted another lower top The GBP/USD currency pair on the 4-hour time frame has been following a downtrend recently. The price dipped below the key support level of 1.30000 on 5 April. The price recovered quickly above the 1.30000 level with more than 50 pips jump but the recovery attempt was weak as the price failed to breach the last resistance level of 1.31979 (High of 3 April) The 4-hour chart of the GBP/USD confirms the negative sentiment in the price movement as the pair is making successively lower tops and lower bottoms. By applying Oscillators Analysis, all three indicators confirm the negative bias in the market. As the chart shows, price is well below the 200-period Moving Average. The MACD (Moving Average Convergence/Divergence) is recording values below the zero-line which shows negative sentiment in the GBP/USD. RSI (Relative Strength Index) showing values below 50 which supports the bearish sentiment in the market. Next support level lies at 1.29786, if the price breaks below this level, bears will take full control of the market. In alternative scenario, key resistance level lies at 1.31979. Bulls must break this level in order to regain bullish sentiment in the market.
Short
by FXTM
EURUSD - FOMC announcing their economic forecast- SELLFundamentals • Investors are focused on the Fed to see whether the central bank will affirm its commitment to “patient” monetary policy and for clues about the likely path of U.S. borrowing costs. • We have numerous announcements coming from the FED tomorrow morning at 5am (AEDT), we are expecting interest rates to be kept on hold, however the ‘Dot Plot’ could give indication on future rate hikes. • Any indication of a possible interest rate hike in the near future could strengthen the USD. • Looking at the EUR – The EB have cut their growth forecasts for 2019 and pushed back any potential interest rate hike to 2020. Therefore we have a fairly ‘Dovish’ ECB and a more ‘Hawkish’ FED. • Two central banks with different views on their local economy. The EURUSD is capped in a negative trend since Feb 2018. SELL position with stop losses above 1.1400 First take profit level of 1.1270.
Short
by ForexStoreau
NZDJPY - Capped in 4 YEAR NEGATIVE TREND - SELL• NZDJPY is capped in nearly a 5 year negative trend since December 2014. • As you can see below there has been a large sell off as the pair have reached the cap of the negative trend line. • Looking closer there is a TREBLE top on the daily and 4 hour candles. • FIB retracement tool is suggesting 75.25 as the first target level which is over 100 PIPS away (61% FIB level) You can look to use stop losses above the 71% FIB retracement level which is roughly 77.00.
Short
by ForexStoreau
Negative news (Coincheck): How to trade the pullback in BTCWhen markets go down sharply, like the fast drop in BTC after the Coincheck hack, they tend to pullback and eradicate any losses in the following 24 hours. But even if you know and expect this, you have to follow price action rules and wait for long entries. How could that be achieved in this case? 1) Why was the market starting its pullback at 10.300-400 levels and not go down and test the 10k supports, as a lot of people expected (myself included)? BTC is moving in a broad range, which is a slightly upward pointing channel. The lower line did run at the 10400 level, providing support. Another factor may be that when everyone is expecting something, like testing 10k or fall below that, it is not going to happen ;) 2) How to enter with a long position to profit from the pullback? The first long entry I marked is a failed second entry short, which squeezed a lot of shorts out. This is probably why it spiked sharply up (first leg), thereby retracing nearly all the loses from the fall. This spike was way to steep, so you would expect a correction to the downside. It is difficult to decide where to enter long in such a correction, so my second marked entry long is at the small breakout level (10750) from the first spike up. This is where a lot of traders would place their break even stops if they got long above that breakout. BTC did make a bullish candle at this point which could lead to the expectation of a second leg up. Right now BTC has established a spike and channel formation, which is just a upward pointing channel after a spike up.
BITFINEX:BTCUSD
by FBlocktrader
Bitcoin: BTCUSD Retest of lows underwayBitcoin Update Spent most of yesterday buying dips from around 14050 and higher, looking to increase on a break of the neckline of what has turned out to be an imaginary reverse head and shoulders - and again on the break above another imaginary flag formation which was then sitting at 15500 with a stop at least 100 points below the line. So we blew 150 or so points off the top but at least managed to trap in bigger profits accumulated during the rest of a turgid, slow day of trading. Not very good, but it could've been worse. The pattern Bitcoin has made overnight has done nothing to improve the picture. The last comments had warned that Bitcoin only turns bearish again on a break below 14465. Overnight it broke this level, fell through the next blue line of support to the next line at 13571, bounced back to test the 14465 level from the underside, turning it into resistance as it did so and is now falling away again...every move it's made overnight has been bearish. If you were around to short on the fall below 14465, lucky you Now it's coming back to test the right hand 'shoulder' at 13560-13450 - Bitcoin must hold here - as this is the last real chance of support holding up and preventing another retest of the lows. Therefore, should it fail to hold at any point today look to short on a break below 13450, looking for 12600 to begin with and then after a potential bounce from here, look to short again from 13088 looking for a retest of the lows. to retest the lows which must hold at all costs today. Failure to do so will tip Bitcoin further into terrible technical trouble and likely force price all the way back to 10486 to begin with and then to 8324. It's beaking down now as this is written up... Suggest closing out ALL longs on any Alt asap - we can buy back cheaper later.
BITSTAMP:BTCUSDShort
by sumastardon
11
BCHUSD Still negative despite bounceBCHUSD Still Negative despite bounce BCH duly had the full-flush out we were looking for, hoping to get long around 1180 and at 1126 with a stop 'at least 10 points lower than 1124'. The pin bar extends just below the last buy point by 23 points. If you got that low without being stopped out then you win trader of the day award...close to perfect, but marred by the stop - (too cautious, over-concerned with newbies joining and trying hard to stop any big losses from occurring) Anyway this still looks in bad shape. If long still take profits or put a stop under 1280. It is still vulnerable to bear attacks whilst unable to break and hold above 1376. Looks like a short again once 1280 gives way, back to 1180 to 1100 range . Pressure here will only lift if BCH can regain and hold on to 1376.
BShort
by sumastardon
6
Bitcoin:BTCUST impulse wave clear on 15 minute chartBitcoin Pressure says on whilst trapped within the impulse wave. Should hit 6928 soon and make a bounce...if short great - stay that way until Bitcoin can escape the parallel on the upside, whenever that comes (track it on 15 minute) and close out and go long for quick bounce to old support... That's Ok for day-traders, maybe, but swing traders are still advised to sit tight for now until dust settles. Depending on how slick you want to trade this wave, and spreads, the impulse wave will have 4 hits on the downside before it loses power usually - and each touch on the lower parallel is a closing point (short term for the big houses running this thing now) and a selling point when it touches the upper parallel. 4 times each side, 8 trades. But you need tight spreads, hence it's a game for Goldmans.
BITSTAMP:BTCUSDShort
by sumastardon
$amt negative divergences and descending trianglehigher time frame is showing negative divergence in rsi intermediate time frame is showing distribution and no conviction in buying pressure and forming a descending triangle further supporting higher time frame alignment lower time frame is showing a downtrend breaking below support and retesting on pullback will look to enter on 130.2x area for a move down to 129.3x area as first target and break lower to the 125.18 which coincides with the higher timeframe
NYSE:AMTShort
by inco1