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Litecoin LTC/USD Contrarian View - Going Long Now!I see almost everyone going short on Litecoin. I've decided to become the contrarian voice crying in the wilderness yet again. I've just picked up a boat load of Litecoin at $50 even. I expect Litecoin to continue to trend up this month (more analysis on that at a later date). My guess right now is that Litecoin will hit $60-75 by the end of the month. But for now this is just a projection based upon the angle of my upward trending channel I've drawn. Now let me make the case for my contrarian view based upon simple analysis: 1) Bitcoin (see my BTCUSD charts) cannot conquer the $2600 level. It has tried many times and failed. This indicates weakness in the Bitcoin market along with several other factors. 2) Bitcoin's weakness is Litecoin's strength, as crypto purist will probably NOT switch over to establishment backed coins such as Ethereum or Ripple. So, due to the BIP 148 fork due Aug 1 for Bitcoin, I see a continued outflow of capital fromf Bitcoin into Litecoin until this target date. 3) Litecoin has solid support at $50. Not only is this support from the 6-19 high but is also .236 Fib retracement. Of course, I very well could have jumped the gun a bit here with my purchase and Litecoin could still drop down to the next major support that I see at around $45. But either way, I see continuation to the upside before that Aug. 1 date. And since I am a swing trader holding trades for weeks and months, I see this as a very profitable investment. You could play it a bit differently than I did and purchase 50% of your Litecoin stake here and dollar cost average down to the $45 mark if you want to bet we'll go there (and we could). But, the risk is, you could get left empty handed should we suddenly jolt upwards from here. Your call. Happy trading friends.
COINBASE:LTCUSDLong
by stewdamus
7
Look how perfect!Check this out! After breaking through our $2420 support, I became a bit nervous. We only had one more stop before the floor fell completely out and that was at the $2330 area. Fortunately, there was plenty of support to hold us today. We had the bottom of our channel, the 50 day MA, and the bottom of the Bollinger Band all holding us up at the same area. We held today, bounced, and it now looks like we will even close this candle far above $2420. As the market hits the far east tonight, we should get even more support. With this long awaited consolidation, the crypto market has had it's chance to catch a breath. We can now continue our move onwards and upwards. As always, happy trading friends.
BITSTAMP:BTCUSDLong
by stewdamus
3
What will happen in the Netherlands and deflation or inflation?CHARTDESCRIPTION If the (ETF) AEX will break this level i only prefer to go long if the RSI, MACDI,(Slow) Stochastic and Bollinger Bands will give me a positive signal. I'm on this moment concernd about the level we have reached, because there are many signs that the current stockmarkets are overvalued (for example the new ticker SNAPCHAT wich is to much overpriced) Also the ECB has now a new problem. They turned 'deflation' into 'pushinflation'. Wich concerned me, because wages hasn't rise at all. There is only more demand for labor (read: seasonal work).
EURONEXT:IAEX
by tmp_cox
GBP/USD Range OutlookWhile GBP/USD swiftly bounced from it’s brief foray below $1.20, price has once again been capped by the range that you can clearly see in the daily chart The upper level of the range is definitely acting as resistance and the way it held again back in the first week of February puts Cable in play for shorts. Just keep in mind that it’s a 700 pip range and we’re already 250 pips off the highs. If that’s too close to the middle and not playing the edges for you, then fair enough. But as always, I would then look to zoom into an intraday chart and find an area of short term support turned resistance to manage risk around
by WaveElliot
Maby some correlation between Gold, Diamonds, S&P500 and NASDAQ?If we look at the figure we are seeing some high correlation between the Forex Gold and Diamond versus the Futures S&P500 and Nasdaq. Prediction: this month Gold, Diamonds, S&P500 are going down Prediction: this year Gold, Diamonds, S&P500 and NASDAQ are going up How is it possible that there is some correlation between them? (my opinion) You mostly find gold and diamnonds in the same country, mostly concentrate in Africa, South-America. The S&P500 is correlated to Diamond and Gold companys because the S&P500 is a comparing of company's that are the most important in the US. If stocks of dollars and euro's are fall we can predict that the stocks of forex in Gold are rising, and because we know also that Gold is correlated to Diamonds we can assume that Diamons are going to be more value in the market. Now we have one thing to understand: why the NASDAQ is correlated between these markets? The answer at this could be something like: ''the NASDAQ is correlated because, we know that The S&P500 is a combination and comparing between the most important company's in the US. The US has some of the most powerfull and valuefull Electronic Company's. So When the S&P500 is rising (or falling) there is always some correlation in the market between them. information: Bloomberg terminal, Wiki, is correlation one of the most important things in trading?
FX:XAUUSD
by tmp_cox
USDCHF - Divergence and broken supportPrice has been bouncing off the 0.9880 area for the last couple of weeks now. Finally, it has broken through. Also present is some divergence which can be seen using the MACD indicator and also the "rounding" of price. I have entered at the 0.9888 and am looking for a nice move downwards. My stop loss is just above the previous S/R area. If price pushes above that area it is likely to keep going higher. Reasons for short: - Divergence - Support and resistance - Trend Line break - Previous strong bearish move
Short
by jeanluc.lazet
XAU/USD - Trend line break down?Looking at the 4hr XAU/USD chart, I saw a nice bearish outside bar (BEOB) right at the longer term descending trend line. We had a small false breakout and a strong close below. To me, this indicates a move lower with the overall trend. I entered on a retrace to around the 50% Fibonacci retrace which is something I don't usually incorporate. I'm hoping we break through the lower band rising trend line and continue lower. Confluence: - Descending TL - Fibonacci level - BEOB - Minor support/resistance @ 1215 level
FX:XAUUSDShort
by jeanluc.lazet
*******WHOEVER SAID THAT YOU CAN'T PREDICT THE MARKETS???******Ladies and gentlemen, it's about time i come clean here and share with you my secrets of success in trading the stock market. It is no secret that many expert traders make outrageous claims about the market not being perfect and that it can't be predicted, and that it will always be 50/50 percent chance of success and failure. Well rest assured that their claims are nothing but dust. old news. Good news is that you can in fact predict the market with precision and three steps ahead of all the other market participants before it even happens! That is right! It is very true what you just read! In fact it is very scientific, theoretical, and mathematical! Its a very simple system that has been used by very few successful novice traders that have been keeping it a secret, and only they have known about it for some time, but now i am going to spill the beans and share their secret and mine for the very first time! This system that i am going to share with you now has come a very long way, and quite frankly, this system has come such a long way that its creators are quite shockingly not what many traders hoped to expect. The creators of this golden opportunity system came from very humble beginnings, so humble that their social way of life playing online video games sparked the idea for the creation of what they now call D.I.P. Using all of their knowledge of online video gaming, their knowledge of astro physics, and their knowledge of meta physics they were able to put together D.I.P. and later put it to the test by trading Bitcoin. Whilst trading Bitcoin using D.I.P., they were able to predict the future pivot points three steps ahead of the market and create a LARGE CASH FLOW. Later, these humble heroes applied their method to stocks, futures, and currencies and got the very same results without failure! Today, i share with you an example of their D.I.P. method . . .
by TheBlanco951
3