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Neutralposition

Expect a FightI usually do not publish on shorter time frames as the volatility is too hard for me to play with my professional finance job and personal life etc. That said, I am expecting a fight between $9700 to $10k. Clearly the bulls want to make this an inverse H&S, and the bears want to crush this zone to the downside. I am leaning bearish short term only because we hit $9,800 and almost no bounce in sight. That said, the sell-off has been rather muted, not like the aggressive sell-offs of the past, and that usually leans in the bulls favor. Most traders would say wait for confirmation one way or the other. I am not doing that. Let me explain: $9,800 is not a bad entry point for a long if you are willing to take a hit on a stop. If we fall below $9,700, game over for the Bulls. Then I will plan to reverse the position to the downside and collect my stop loss + profit down to $9K, or, I believe $8K and below. Have waited 10 days for this set-up which has played out perfectly. Good luck trading.
COINBASE:BTCUSD
by Casey22
GE short strangle, July 12 9/10.5, 3+ month channel There is a clear channel that adheres to the peaks and troughs of the sideways trend on the price movement on the daily charts, starting from February 28th, 2019. Both the upper and lower boundaries of the channel have been tested multiple times during this period -- the more times the limits are tested, the stronger the both support and resistance become. The lower bound is at $9.00 and the upper bound is at $10.50. By simultaneously selling the OTM $9 call and OTM $10.50 put, there is a maximum profit of $32 per contract reached if the price of GE is between at expiry. The break-even points are at $8.68 and $10.82 respectively. We are choosing the July 12th contracts as GE is expected to report earnings July 19th. With 25 days until expiry, as a net seller we will collect the theta premium as GE stays within the historical channel that has held up over 3.5 months.
NYSE:GE
by LaurenTrading
GOLD - WEDGE SITTING ON TRENDLINEBIAS: NEUTRAL I was short bias on this, which is still possible. However, Gold has formed a textbook Descending Wedge which is a considered as a continuation pattern but the only obstacle on its way is a very strong monthly resistance. This wedge is also sitting on an ascending trendline and price breaks that trendline we are confirming a nice downtrend for Gold. In conclusion, Gold is currently in no man's land, it would either break the wedge or the trendline, we have to play it by ear. I am going for it to either break the two before I make a trading decision on this pair.
FX:XAUUSD
by zorrays
Want to be Bullish, But Need to be ConvincedNever buy resistance, never short support. I want to see this index get over 26190 for me to be a bull and the fundamentals are not all too convincing. Yes, China trade war is concluding in all likelihood, but then what happens if Trump decides to go after Japan or Europe on auto tariffs? We already know he doesn't want to quit these trade fights as seen with India. However, dovish Fed speak could be quite a boon for this index. More words on how the Federal Reserve could impact US markets and recent updates on US-China trade war here: anthonylaurence.wordpress.com
DJ:DJI
by WhiskeyTangoFoxtrot3
BTC basically a coin flip?After the bullish run we have had this week the action has slowed down. Volume remains up so that is a good sign. On the daily 4h and 15m BTC is right at ichi resistance. We are at the top of the VPVR with a massive gap up to $7000. We could move to 7k or drop down to 6100 and test support again. In the long term falling wedge we can see the trend is at around $6800 for this time period. With all factors considered in this sideways channel it can go either way with a slight bullish bias. Bullish scenario clean break to $7000, slight pull back to $6800 then another upwards move to $7200. This scenario can very well happen with a increase of volume. Bearish scenario a run up to $6800 with a swift sell off and a couple red days bringing us to prior support. This is the most bullish the indicators have looked since hitting $7200. All things considered if you're trading keep the stop losses tight and leverage low. Happy trading.
by Bmoody92
Optimizing Profits for BTC by Hedging!What's up everyone. Quick update for BTC. So, I'm still in my Short from above when I tracked the Rising Wedge + Bearish Butterfly, and because that position is in profits with plenty of play room, I've decided to keep the position open to absorb the capped out funding in a few hours + double-down on futures (or alternative account) to hedge into a long position to get ready for the trend reversal. DO NOT GET TRAPPED BY THE FUNDING!!!! Funding is capped for Shorts, however there are a lot of indicators pointing towards bullishness, including a local double-bottom, 1D StochRSI, 4H Stoch, 1H Stoch, 15M Stoch as well as a Falling Wedge that was already confirmed, Ichimoku Clouds + we already got very close to the 0.5 Fib Level on this retracement we had today. All of this + the high funding looks like a set trap to get some juice for a short squeeze. My strategy for this is to stay neutral and practice risk management for optimum profits with this funding opportunity. Stay frosty. -Wolfie
BITFINEX:BTCUSD
by TheWolfofPoloniex
5
BTC to 8K or 11.5K???Hello everyone, I have taken a close look at the BTC price structure and analyzed what the market is currently showing me on the BTC/USD Bitfinex 4H Candle sticks. ==================================================================== 1) RSI, Stoch RSI, Momentum indicators are all neutral smack in the middle. 2) Full wave structure of the run or as close to what I believe it was, is here, labeled as ABCDE on the Primary movements. 3) With that, we have support zones identified, green is good support, yellow is weak and blue is strong support. 4) Red is resistance zones with a massive overhead resistance at just over 11k... 5) Looks like a symmetric triangle... ==================================================================== Based on this information we are in 1 of 2 scenarios. ==================================================================== Scenario#1 -Large correction before the next movement, retrace of ABC along the big red letters. -Stop at the green support area a 3rd time before moving up is unlikely, more likely is the stop to the blue area at around 8k. Scenario#2 -We are following extended impulse waves with I,II,II and so on... -These are indicated by the teal Roman numerals. -A drop below the weak support, as long as it doesn't break the triangle does not violate the starting point of the impulse waves. ==================================================================== I usually don't analyze something unless I have a position in it, but for BTC, I made an exception as it indicates overall crypto market direction. Based on what I have analyzed, I have decided to stay out of the market as the direction of the price action is a dice roll with a higher chance to the down side. Why do I believe the down side is more likely? Because of the resistance zone and psychological barrier of $10,000.00. -I will enter a buy if BTC passes 10k and finds support along the old resistance level at point 4. Will set an appropriate stop loss of 3-5% with a potential gain of 10-14%. -BTC will make a choice before the end of the triangle... watch for it, up or down. Worst case scenario, it could take all the way till May 4th. -Who knows, maybe it will be a Cinco de Mayo price celebration! **With that said, I give you my final disclaimer. I am not giving financial advice in anyway. Any trades you decide to take are 100% your responsibility. That means you take on ALL the risk and at the same time ALL the reward or loss. Before you trade, I recommend doing your own research and never trading more than you can afford to burn to roast some yummy marshmallows. -May BTC, reach Mars before Elon Musk
BITFINEX:BTCUSD
by gendark2
ETH USD Possible MovesHello everyone, Looking at the 4H time frame, I give you a set up which might take place in a realistic time frame. Before I begin, I want to give you one huge disclaimer. ***The top of the market is not yet known before the retracement.*** With that out of the way, were going to assume the top price for ETH will be 623.21. Using that, I have drawn a FIB retracement utilizing the price action from the lowest price on the momentum indicator of 497.31. This gives us our retracement levels. With that, my idea is this: 1) There will be a retrace to the 0.382 (As there usually is in most bullish market moves.) 2) If there is a clear accumulation such as the previous move, feel free to buy a position with the 0.5 area acting as a stop loss. (Or better support area, if you find one that is.) 3) The price action according to the indicators should move accordingly, ETH up to either a double top after accumulation or a breakout to a price of $670ish. Other Scenario: (The ideal set up) 4) ETH and market drops for a correction to the $500 area, which appeared to be support for the previous accumulation. BUY this area. (RSI should be around 40 on the 4H chart with a nice candle set up before you purchase.) Keep your stop loss tight, just below $480. 5) In the second scenario, price action can make a higher move into the 700s, Ideally $750. 6) If the price action fails to a stop loss, It might continue to fall again, and who knows where it will stop. Last but not least, what I write here is NOT financial advice, with any market trade you assume 100% of the risk and at the same time 100% of the reward. Do your own research before buying anything! -May BTC reach Mars before Elon Musk
Long
by gendark2