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NEOUSD: Still Positive - Next Buy Point ApproachingNEOUSD Still Positive - Next Buy Point Approaching The minimum upside target created by the RHS is 173 but it's taking its time to get there. Looks to be in process of completing another continuation pattern before firing higher again soon. Once it passes 128 and holds there it should advance to 148/150 where the upper dynamic will most likely reject it again on the next touch. But WD Gann tells us that 4 touches should be the maximum and on the 5th attempt it should push through the dynamic and complete to the target at 169-173 range. Can therefore split trade into two parts, from 128 to 148-150 and then from 151 to to 169-173 - or can buy and hold depending on trading profile. Support lies at 121.5 and whilst above here Neo is positive. Stops for longs just under 120.
BITFINEX:NEOUSDLong
by sumastardon
1
DXY: Dollar Index Dollar Downtrend Finally Reaching its EndDXY Dollar Index Dollar Downtrend Coming to an End Despite the spike and noise surrounding CPI numbers yesterday DXY has been forced back down the same small parallels it was travelling down before the numbers hit the newsfeeds. As in last comment Dollar bulls still have the double bottom on their side here. The last one was one week apart, this one is 2 weeks apart. The Dollar is likely to hold here at these lower levels and then begin to rally. It's waiting on Wall St to open now but bears in London have failed to push it below the double bottom. A sign of waning downside momentum. Once it can break above the upper small parallel guiding the descent it should attract more buyers and move back up to test the 89.37 line where it will likely meet resistance again...it has to push on through here during the course of today for the bulls to gain more traction and flip DXY into more positive mode from this point. This battle may take some time to resolve - DXY has to fight its way through three lines of near term resistance at 89.37, 89.51 and then 89.62 to turn back to positive again. Look to buy dips here and on the pairs with stops under 88.40 on DXY for small loss if wrong from here. Increase longs on move above the smaller upper parallel. On downside, DXY will have to break below 88.40 today to change this view to near term negative but only back to 87.70 at lowest where DXY should find final support and begin to rally again. But so long as 88.40 holds up today the Dollar's downtrend is finally coming to an end.
TVC:DXYLong
by sumastardon
Litecoin: LTCUSD Turning Point Litecoin LTCUSD On the Brink of flipping back to Positive Finally a good double bottom overnight has created the loss of downward momentum needed to tempt back the bulls here - but it's now probing key resistance at 157 and likely to run into profit taking soon. It now has to move up above here and hold it on retest to break the overall downtrend and to allow it to run up to 195 and then 216 and on through the lines of fixed resistance above it back to the highs. This break is important and will flip Litecoin from negative back to positive on a dime.
BITSTAMP:LTCUSD
by sumastardon
DXY Dollar Index: Approaching reversal pointDXY Dollar Index Long Term We've been aggressively bearish of the Dollar since that first break below 98.5 back in early May last year. Down another 11% since then it's coming time finally to think about reversing back long again soon. DXY has already hit and bounced from the support line at 88.44. Below here lies a long term dynamic support line which has effectively stalled all Dollar declines since 2011. It lies at 87.70 and even if DXY suffers one last decline from here it should halt at 88.44 and at absolute worst at 87.70 during the course of this week - we should see the final low put in this weekcoming , and likely by the following week at latest if we don't hit the bottom this week. Look to close out most shorts across the dollar pairs into this final selling climax if we see it materialise over the next few days. Swing traders should now, finally, be looking to follow suit too. DXY Shorter Term Last week DXY made a new low at 88.44 before bouncing 1% to 89.51 resistance line with a high at 89.53...The 88.44 level is one of two likely levels to look for a reversal in trend, the other being the longer term dynamic support line, at 87.70 now. If the first level is to be the reversal point DXY will continue rallying from here and not break below the tiny rising dynamic directly under price right now...then comes the bigger test: it has to break above the upper parallel and break 89.53 and then hold on the retest - that would flip DXY back to near term positive and send it back to 92.62 and the falling dynamic resistance line shown on the chart above, where it's next major challenge will most likely lie. Follow that break if we see it materialise at any point this week Downside If in the alternative DXY loses the little dynamic holding it up and then falls below 88.88 it will fall back to 88.44 again and if it cannot base there and make a double bottom it will fall away to the second key level at 87.70 - at which point it should start to find some support. If so start closing out dollar shorts and look to build longs from here. Otherwise, the safer/less risky option for swing traders is to forget about bottom fishing wait to see at what point DXY finally exits the upper parallel of this impulse wave - which has, so far, controlled all upside potential for DXY throughout this current down-wave - and follow that break when it eventually comes, looking for 92.60 initially.
TVC:DXYLong
by sumastardon
Bitcoin BTCUSD Next BUY PointBitcoin Bitstamp Feed Still making a pretty consolidation pattern so far - we can only really buy again now once the upper parallel has been broken on upside - but day traders are risking buying these lows and helping to prop it up here with stops just below for small loss if they are wrong...if they are it triggers a reverse short for them back to 10879 with stops above the break line by 50 points or so points. Otherwise we wait for the break higher, and successful retest, as above comments. So far today we have traded about 500 points of longs if you follow the 'other' feed, (top of page for details) - but am hoping to keep this page regularly updated from now on too. Stay lucky.
BITSTAMP:BTCUSDLong
by sumastardon
Ripple: XRPUSD Ripple Effect - next buy pointsRipple XRPUSD Ripple continues to avoid the worst of the fall-out across most other Alts - still riding high. It's consolidating recent gains having doubled from 124 to 248, after near doubling again before that from 64. It's making a U shaped top formation and now struggling to bust above the old support line which has become resistance to the upside - and now the range is beginning to narrow. It has some more unwinding to do yet but can be bought on dips, though would really only look to day trade it for now though as this U -shape pattern has some way to play out yet - the range between 212 and 197 and dips to 185 could prove profitable in nearterm. Others looking to buy this rising star can place orders at 197 and even 186 which should get struck if patient enough.
KRAKEN:XRPUSDLong
by sumastardon
Supports for SiaEven though riding the BTC waves, SIA respecting lines nicely like the top reversal perfect with resistance trend formed by previous two tops, making the supports formed more reliable, even in the face of BTC movements. Expect support at first purple and first red horizontal, next tried and tested supports would be the lower purple. Even if BTC drops to its 9-10k supports I doubt that SIA will test lower red. Green is a prediction - If SIA breaks purple, then visually, at this rate, green would form nice support to bounce from, from by the two previous intermediate lows. MA's and other indicators removed for clarity of LINES ONLY. Please leave a like, thought's and comments on how to improve analysis appreciated.
BITTREX:SCUSDShort
by FOREVERTRIP
Bitcoin: BTCUSD Just a another Manic Sunday/Next buy pointBitcoin: BTCUSD Wave and Price just keeps Growing Life and Times: Just Another Manic Sunday - Bear Witness to the Fastest Market in History - Bar none. Next Buy Point for last 500 Update/positions: Yesterday we got stopped out at 10900 for a 900 point win from 10008 and were looking to re-enter from 10638 in a perfect set-up - it was close but no cigar with the subsequent low being 20 points higher. See how it made that base under the highs? Hardly bearish was it? If it was bearish it just would not have behaved like that. Remember this behaviour! You're going to see a lot of it in this environment on other Alts at different points ...see how it behaves under old highs: does it recoil hard, big red candles of rejection or it lazy, almost disinterested? Long term holders don't give a hoot for whether price is 12 or 13 or 9 or 21. it's just a number. They ain't selling. No supply. Lots of demand, and - as humans are wont to do - we are somehow much happier paying 11.5 now than 9.5 just 48 hours ago. Humans! Are we not, like Bitcoin itself, a piece of work to behold ? Traders' Update Look at this wave now. It's tidal, tsunamic in size. It grows as fast as Alien and moves 100 times quicker. If day trading, or holding long again from 10650 ish lows of later yesterday prepare to take profits as the upper parallel is tested, spiking up into the top-most parallel at best before falling away again... looks likely to come back to 11385 at some point and potentially to 11070 - note the two little pins at the top - a tiny tiny fractal flag is forming by the look of things before the next surge to the upper parallel. it looks like it will consolidate close to the highs and at worst dip to 11500 and perhaps spike to 11385 at lowest before it rallies again to hit the upper parallels. Next buy/add point if we don't fall away further from here comes on the break of the tiny dynamic coming off the highs. But close out again at the parallel for 400 to 550 gains. If we see this challenge above 12000 and into 12150 range it is possible that we then see a large collapse start from there ...doesn't have to happen, but would be 'normal' behaviour in any other 'stock'. The problem is Bitcoin is hardly 'normal'. Supports shown on the chart are the most likely spots to expect support to step in later on today/tomorrow. * Sorry once again: was banned for 24 hours for posting a text wall to chat room. Bad bad bad
BITSTAMP:BTCUSDLong
by sumastardon
21
ETHUSD Next Buy Point: Flag Formation - againETHUSD Neutral but underlying still strong whilst working inside the flag Won't quit. It's spent the last few hours consolidating gains by hammering out another flag. Two strikes on the lower parallel shows this is still 'hot'. A buy of the lower parallel but close out at the upper parallel if day trading. A break above the upper parallel can be followed for next momentum break but be careful ...very whippy! (see last break of the last flag). IF at any point ETH loses the lower parallel of the flag it will start to unravel for a while. Don't buy rallies if this happens. Need to stand back awhile at that point if it happens. This shouldn't really revisit the lower parallel if it's to remain 'hot' from here
BITTREX:ETHUSD
by sumastardon
1
Brent Crude Oil: UKOIL Buy point with 19 pip risk and 500 rewardBRENT Crude Oil UKOIL Update A nasty failed break above the upper paralle lhas forced Brent back to the lower parallel, the entry point was hoping for, so am going long at 62.18 with stop under 61.90. And if this call goes wrong and Brent breaks below the lower little parallel of this flag forming now will reverse completely for fall to 61.12. If it's going to rally as expected, it should do it from here (see earlier comments for details)
FX:UKOILLong
by sumastardon
2
Brent Crude Oil Buy PointBRENT Crude Oil UKOIL Close-Up As per earlier medium term comment on Brent, believe that Brent has about another $5 upside from here. but in the very near term there is a fair chace it will get sold off first thing and offer a good chance to get long at the lows, or close to. Was hoping for a fast test of the lower parallel of this flag formation but won't get it. Oil is strong. Buy as it breaks above the upper parallel or on retest with stop 50 pips lower.
FX:UKOILLong
by sumastardon
2
BITCOIN: BTCUSD Next buy point and triple play in quiet marketBitcoin: BTCUSD One quiet Saturday playing Bitcoin V Mon-Fri 9-5 job. Do the math. Whilst above 7717 key near term support the bulls are still in charge here. The opening in China will likely drive price down but it should hold up off the lower parallel and down to 7717. Touches here are buying opportunities with stops under 7000 line and if they produce pin bars will show that Bitcoin is still quite strong at these levels - and so long as 7717 continues to hold all is good for Bitcoin. It's making a small continuation pattern prior to moving higher by look of current price action. A break above the small dynamic holding price back right now on chart is the next signal to go go long/increase longs.It should then continue to grind higher to 7980-8000 where it becomes a sell for day traders if 7970 is touched. The 250 points of profit (200 after spreads) can then be risked on two trades, depending on risk profile and whether day-trading. If there looks to be still no real volume as prices move up to 8000 consider reversing current long at 7990 with stop 40 points higher looking for 150 -200 points on the downside. But be ready to reverse and flip long again if we see 8030 broken at any point (blowing the short stop for 40 loss) and particularly if higher volumes accompany this break out attempt above the key 8000 barrier - (a big green candle tells you this, you don't need to see a volume indicator to know this, really) - look to get long with stop 110 points under 8000. If it then fails you end up breaking even. But if it wins and breaks 1000 points higher ...(last weekend we made 1450 points, but the market was more fluid then. This weekend, so far has been very quiet. so am only hoping for 250 to 7780 and (maybe 170 short from 7990) - but it still beats working Mon-Fri - even when it's quiet. Am moving stop to 7700 for 30 loss if wrong from here. You don't need to believe in Bitcoin. You don't even need to own Bitcoin for more than a few days at a time. You just need to trade Bitcoin when the chart tells you it's Ok to do so, using stops. We've taken over 3000 points out this thing in exactly 2 weeks that's 38% of the total value of Bitcoin - in 2 weeks. Without owning it. All calls are there to check.
BITSTAMP:BTCUSDLong
by sumastardon
Bitcoin BTCUSD Update next buy point Bitcoin: BTCUSD The new long is going quite well, so far...the measurement implication of the pennant formation is 8079. However 7890 is the absolute high and profits should be realised now. Look to go long again on break above 7900 for move to 8079. Stops 50 to 200 below Careful here right on the highs can take profits here if day trading or raise stop to 7870 in case we stall...up to you as per risk profile just now Trade active: and if you do take profits be ready to go long on a break above 7900 with stop 50 to 100 below at max. Measurement implication of the pennant is 8079 once 7900 is broken
BITSTAMP:BTCUSDLong
by sumastardon
Bitcoin: BTCUSD Pivot point for today looks to be 6450Bitcoin: BTCUSD Update/levels for longs This trade is in balance, but OK above 6450 The trend is overall positive right now barring super near term test of lower parallel and successful, so far, retest of the key level at 6450 - which looks to be the pivot for day on downside) So If broken at any point and our stop 50 points lower is struck we should look to reverse short again on the next rally attempt towards 6440 once it's broken - it must then fail there to trigger the short with stop 50 points above. But until the stop is hit, the trade is good and we stay long to target at 6940 and then we look to close out and get short again with stop 50/60 points above. We then need price to fall below the lower parallel of this impulse wave with some red candles appearing, bigger the better...so if don't see this, just some lazy backing and filling but held up by the lower parallel it means Bitcoin is stronger than anticipated and needs a plan B, again...the width of the parallels is 250 points, great for day-traders and maybe even for swing traders who are willing to sit with it for a while as one of 3 things occur, most likely: 1. It does what it's meant to, reaches target, get short again, red candles, quite big, a failed bounce and then break of the lower parallel about 250 lower at 6700 by this point in time and all's well with the short back to 6510 target and then reverse again, going long with stop under 6420. Sweet. 2. It falls below 6450 and then our stop below here and we're out with 50 point loss plus spreads and reversing completely. 3. It hits our desired target but It doesn't want to break the the lower parallel around 6700 when tested, it holds. In which case close out shorts and wait to see if the bounce is strong with nice green candles again or feeble and likely to fail ...if so short gain when failure is evident, on first retest of the failed lower parallel from underneath (with stop 50 points above), looking for 6510 target, as above from there. On upside, further out in time, and so we are prepared with straight-forward plans (for experienced traders, anyway) for any eventuality: Any break above 6960 which is then sustained on the next pull back would be very surprising (so could happen, it's BItcoin don't forget) and mean we have to long again with stops 50 points under 6940 level. So the pivot point on upsdie is 6960 by look of thins
BITSTAMP:BTCUSDLong
by sumastardon
Nasdaq Biotech: NBI A good low risk buy point coming up tomorrowNASDAQ BIOTECHNOLOGY INDEX: NBI A good low risk Buy Point Coming Up Range trading between the parallels continues as it has done since last year's election low. It' looks like it should fall back to 3267 where it becomes a buy again with stops just under 3250. It should make a strong rally from here back up to 3575 for about 300 points gain, with the first level of resistance at 3344 (close out first long here). A subsequent move above 3344 will be very positive for this index, taking up to 3435-3444 range before it falls away to 3380 at which point it should move higher to the 3575 target - at which point it becomes a short again If this long call from 3266 is wrong, it means that the lower parallel that has guided this up-wave from inception is also failing, an extremely bearish outcome should the stop at 3245 fail, signalling a move back to 3168-3148 range (and a complete reversal of positions into near-term shorts) where this index becomes a strong buy again.
NASDAQ:NBILong
by sumastardon