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BTCUSD/BTCUSDT 1H and 3D charts (6/10/2019)Good morning, traders. The price swings as of late have been great for shorter-term traders, but are causing havoc on investors or those holding for longer periods because they don't know what they're doing. So they allow the noise (swings) to cause them stress and then emotionally sell out of one losing position and into another even though they supposedly bought for a longer term hold. As a result, most retail traders right now are trading scared, moving from one trade to the next and losing money in the process. They continue to jump into positions almost immediately after they exit another in order to "make up" their losses. If this sounds like you, please stop. Step back and take some time away from the market to get your emotions under control. You will lose a lot more money jumping around like that, chasing price, than you will by stepping back and relaxing. The reality is that all that's happened is that price has continued moving sideways in a TR. That's it. Accept your current losses rather than trying to revenge trade your way back into profit. My 4H chart from June 5th () remains the most relevant at this time. While the shortest term EW count has become invalidated, the larger count remains valid for now. More importantly, the TR chart on the right side shows price exiting through the descending channel's resistance. This now projects a channel target of $8960. The expectation, after the recent $400 rise, is to see consolidation above this local resistance before the next push up. As it's been, the red horizontal line marks the weekly/monthly pivot which price has been consolidating around as it prints the larger TR. I remain cautious at this time. Until price exits the TR, we don't know for sure which way it is going. All this chop within the TR is why novice traders end up losing their money. The trends are easy, it's when you attempt to trade smaller TF sideways movement that you lose your capital. The weekly didn't close well. We had a long-legged doji two weeks ago followed by a large bearish candle last week. Most traders consider this an indication that price is headed down, and many times it is. I have the 3D Binance BTCUSD chart attached for you to consider. The weekly 21 EMA is around $6100/$6150, so a trip lower would have me watching that level for the reversal if the two purple lines don't support price. The weekly/monthly R1 pivot remains at ~$12900, so a trip higher would have me watching that level as a target. The large descending wedge target is at ~$14500, which is the next target higher I am keeping an eye on. It still seems to me that the order block created the first week of November 2017 (highlighted in grey) is the dominant level. This is where price was supported throughout most of 2018 until the terminal shakeout in November and is the level that price is currently sitting above. If this is wave 4 printing right now, then the black TR in the Binance chart to the left states that we should see price testing the TR's resistance next at around $9000, if not a bit higher. If it does, then we usually expect price to return toward the TR's EQ at around ~$8200 or, if there is still too much supply, we will potentially see price targeting the bottom of the TR, or just below it (watch for a wick to the 3D 21 EMA to create a Spring). As mentioned last week, if this is wave 4 printing, then we should also be watching for a pennant to print in this area on the larger TF instead of price just heading up and out. Since wave 2 was 1.5 months in duration, wave 4 should be expected to play out over a month or so. We still have a couple of more weeks before price heads higher in that scenario. Short term, we should see price targeting the top of the ascending channel around $8400/$8450. However, be wary of the $8150/8250 level. If price is unable to move past that right now, then it will likely have to retrace toward $7950/$8000 before trying once more. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSDLong
by Chris_Inks
4
BTCUSD 4H chart (5/24/2019)Good morning traders. Price has been heading up as expected for another attempt at a higher high, however we still have heavy supply through $8400. As we can see, price is near the top of the HVNs. If price can get on top of these HVNs, then they should act as support. What is worth noting this time around is that the orderbooks are showing stronger nearby bids than asks for the first time. We have been watching multiple possible patterns play out for a while now and at this time I am leaning toward the descending wedge and/or ascending triangle. This latter pattern is noted with the dashed red lines. It isn't an easy 3 or 5 wave count, but in either case for those patterns I expect to see price target the TR's resistance before dropping back a bit and then pushing through. As I have continued to do this past week or two, I have noted the possible targets as price moves: pattern targets in red, daily pivots in blue, and weekly pivots in green, as well as supply zones in grey. Generally, I expect price to at least meet the TR target which, in this case, would have price reaching the EQ of the supply zone at around $10,000-$10,100. This price level seems to be the general consensus among cryptotwitter as well (or at least among those who believe price will rise a bit further), but it is most certainly not guaranteed. I remain cautious as we have not seen a blow off top, although price is moving parabolically. This means that we could actually see price push even higher than $10,000. If we get that kind of move, then traders need to be extremely cautious as price will suddenly turn and drop hard when top blows off, trapping and/or liquidating late FOMO longs. Levels of confluence among possible targets are of stronger interest to me than the targets sitting by themselves. If price is rejected at the top of the TR and then falls below the recent $7467.10 swing low, we may see this play out as a double top. Just remember that the double top pattern doesn't confirm until price closes below the swing low between the two peaks. The 4H Stoch RSI is overbought at this time and appears to be rounding down, so we may see a bit of a pullback before price continues its advance. In that case, if price intends to continue higher, then I would expect the 21 EMA currently sitting at $7850 to ultimately provide support. The daily RSI is bullish at 66 and Stoch RSI remains oversold at this time, but is curling up, suggesting that we may see this final leg up that I have been expecting. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
COINBASE:BTCUSDLong
by Chris_Inks
4
USDJPY testing weekly pivotThe US dollar has fallen back towards its weekly pivot point against the Japanese yen currency after buyers failed to move price above the 112.00 level. The move lower is currently seen as a technical correction, as bulls have been able to maintain the USDJPY pair above the pivotal 111.68 level. The inverted head and shoulders pattern on the four-hour time frame remains valid while price trades above the 110.30 level. The USDJPY pair is intraday bullish while trading above the 111.68, key intraday resistance is found at the 112.00 and 113.20 levels. If the USDJPY pair trades below the 111.68 level, key intraday support is found at the 111.30 and 110.90 levels.
by OctaFX_Official
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by simpletrade777
2
ETH/USD Sell from Sell ZonePriority: Short Reasons for open position: - sell zone is 169.1-172.65 - trend line was broken and I'm wait pullback for open short - key level is 173.50 and very powerfull level which prive touch several times is 174.70 Stop above 172.65. More safe stop loss will be at 180 and above. You make a decision which risk you takes Take profit 1/2 (166.65) and higher, depends on your greed If you like idea, please push like and subscribe, it motivates me to post ideas more often.
BITMEX:ETHUSD.PShort
by UnknownUnicorn2760874
4
BTCUSD 4H/D1 charts (3/28/2019)Good morning, traders. I hope you are being vigilant and monitoring market conditions. The lull most often results in retail traders losing money as they get bored and lazy because price isn't moving much. Daily volume yesterday was the most we've seen on Bitstamp in over a month and resulted in a nice, large daily candle. Price has halted appreciation at an area of confluence of resistance. We can see the shorter term descending resistance and ATH descending resistance coming together, as well as the ascending channel EQ. Additionally, the vertical red line marks the Bitmex March futures contracts expiry. Daily RSI hit resistance yesterday while Stoch RSI crossed bullishly. Price still hasn't retraced, rather it appears to be consolidating near yesterday's high while printing a bull flag on the 4H TF at the top of the local TR suggesting demand is continuing to build. Price remains above the 4H and daily pivots, as well as their respective HVNs. The target based on the height of the 4H bull flag would be the same target we have continued to watch which is the top of the ascending red channel. The 4H RSI broke through resistance yesterday and is currently testing it as support. A bounce from there should signal price breaking through it's own flag resistance and targeting $4120-$4155, depending on when it does so. Ideally, I would at least like to see that break and a close above the February swing high of $4190. This would give us monthly higher highs from January through March. It would also strengthen the case for bullishness. If we can see price head up from here, then I am initially looking for a target of the red channel resistance followed by a retest of the ATH descending resistance line as support/bounce off the red channel support, and then follow through toward $4538 at a minimum. This latter target is based off the height of the larger descending channel on the daily chart. While there are only three alternating touches (really need four to confirm the channel), it does give us a preliminary target. What we ultimately need to see is a close above the December 24th swing high of $4236.84. This would confirm a bullish trend as we would have a higher high off the corrective, December low. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSDLong
by Chris_Inks
2
USDJPY testing 110.00 pivotThe US dollar is once again trading testing the 110.00 level against the Japanese yen as global equity markets come under downside pressure. The USDJPY pair has a strong bearish intraday bias while trading below the 110.30 resistance level. The 109.10 level now offers the strongest form of support below the pairs former weekly trading low. The USDJPY pair is bearish while trading below the 110.30 level, key support is found at the 109.10 and 108.80 levels. If the USDJPY pair trades above the 110.30 level, buyers may test towards the 110.90 and 111.20 resistance levels.
by OctaFX_Official
BTCUSD D3/W1 charts (3/7/2019)Just taking a wider TF look at the pair. We can see a much clearer picture of a the possible ascending triangle that is printing. Weekly supply zone in green denotes the resistance at the top of the triangle. The W1 chart suggests that a clean close above that resistance should have price targeting the orange zone just below the weekly HVN. The D3 chart shows that area as the first level of support as price fell from $6000. Supply remains in that area, which should provide initial resistance on any movement up. Today will close the current D3 candle and we can see that it is printing a nice bullish engulfing after the doji. It is also above the pivot as well as the 21 EMA. All of these are bullish. As we can see on the weekly chart, the target based on the triangle takes price right into that supply. We can also see the ATH's descending wedge resistance sitting just a few hundred dollars above the current price. A close above this resistance should set up a $14,500 target, at least, based on the height of the wedge. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSDEducation
by Chris_Inks
EURUSD watching key pivotThe euro has a neutral intraday bias against the US dollar as buyers and sellers struggle to take control of price-action in the short-term. The 1.1337 level is the key intraday pivot point, with the EURUSD pair now confined to tight range bound trading conditions. Technical indicators on the four-hour time frame are moving lower, especially if sellers can hold price below the pairs pivot point. The EURUSD pair is bearish while trading below the 1.1337 level, key support is found at the 1.1300 and 1.1280 levels. If the EURUSD pair trades above the 1.1337 level, key resistance is found at the 1.1370 and 1.1410 levels.
by OctaFX_Official
REGULAR RHOMBUS AT THE PIVOT LINE OF A RECTANGLE RANGEThe regular rhombus is a powerful reversal pattern taught by my mentor Rodney Ahenkan (Papa Smurf). I tend to look for it at reversal areas, especially at the pivot lines and support/resistance areas of the RECTANGLE STRATEGY (again as taught by Papa Smurf) On NZDCAD, I see it has lined up nicely. There are quite a number of indications for a reversal at where price is currently: 1. Price is at the pivot line of my RECTANGLE (the blue line on the chart). The pivot line is a potential area of reversal. If price fails to break below it, then it would likely return to the top of the RECTANGLE. 2. The formation of the REGULAR RHOMBUS (a reversal pattern) at the PIVOT LINE of the RECTANGLE (a potential reversal area). 3. The PIVOT LINE is being tested for the third time. The previous two times, price was pushed back up. 4. There is a clear MACD DIVERGENCE. All these are powerful technical indications for a possible price reversal. On the FUNDAMENTAL side, there are 3 red-folder news releases for NZD at 1:00 am this morning, to be followed by an RBNZ Press Conference an hour later. I would therefore wait to see what price does AFTER the news releases. If it agrees with my analysis, then we're good to go.
Long
by Pesokia
BTCUSD H4/D1 charts (1/30/2019)Good morning, traders. As I mentioned yesterday, price appears to be following the H4 chart pattern. Yesterday's daily candle printed a nice bullish reversal and today, so far, it is printing a bullish engulfing candle. Just above price's morning high is the yellow level I pointed out which could provide support for price if we can close above it. The D3 candle, which closes today, hasn't closed below that level yet and the weekly candle is currently printing an almost perfect bullish hammer. Interestingly, we have not seen a weekly hammer print at all since the ATH. The initial target for this move up remains the blue box on/above that yellow level. We can also see the daily RSI pressuring its triangle resistance. That being said, the H1 TF is almost overbought but the H4 TF is just getting warmed up as RSI sits at 50. We could see a pullback toward $3410/20 before pushing higher. Yesterday I stated: "There is a trading technique that has traders going long when RSI prints a double bottom in conjunction with a price double bottom. This would be the case with the current H4 price structure as the first low printed on January 27th and the second printed slightly lower earlier this morning. We can clearly see the corresponding double bottom in the H4 RSI and, as I mentioned above, RSI is moving out of oversold which is usually the signal to go long. I'm not telling traders that this is what you should do; just describing one trading technique. Even utilizing it, you must employ good risk management. The daily candle, while still having just over 1/3 of the day left to go, is printing a possible nice reversal hammer." Going long would have netted you profits into today. The shortening of the repeating H4 pattern, creating the orange wedge, suggests that price will had toward the descending yellow resistance. As always, traders should be looking for confirmations before entering trades so a close above the orange resistance should be the minimum. A close above the H4 pivot would also be considered bullish for pivot traders, as would a close above the daily pivot which currently sits at around $3690/$3700. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks