Potential Reversal on The Most Important Psychological LevelUSDCAD is now heading towards the most important psychological level, 1.20000. As we can see from RSI(14) and Stochastic(14, 3, 3), both indicators are now hovering in the oversold territory. Plus, there is an RSI divergence formed and indicated with dashed line. And as I see, this level may be a bit special then previous 1.30000 as there wasn't any divergence formed when price reached 1.30000. So if there is any sign of reversal near 1.200XX level, it will be a good long entry for us as it will give a nice 1:2 risk to reward, with take profit at 1.243.
Psychologicalroundnumber
ETH another drop to 0.05000 ?I'm observing this pair for some time. I was almost bullish for it. I marked very strong support/resistance area(0,066500) which I think will be broken soon. 0.05000 was tested on polo once so it is possible that this kind of move which happen again. I'm expecting strong move after this area will be broken.
Stratis strategy to enter market pending order target 40%Pair is heading south faster then expected. It seems like it found some support around lower GAP. It worked fine as a the support in previous attempts. I think that possibility to test lowest low from 7/11/2017 is very possible and this is the moment it would be good idea to enter the market.
When the Stratis will hit 10k which is strong support and it should give a pair little push to move higher. I think it will retest the 15k level and then possibly go back or I don't know.
I used some of my artistic abilities to draw what I expect it might happen.
Clams this is madness :)This is daily chart on which I marked few important candlestick patterns. We can see here clearly three white soldiers, engulfing candle and doji candle which was rejected after trying to breach psychological level 10k. I marked on the bottom of the chart GAP based on the weekly chart.
I would expect for this pair to reach 0.0022000 level first and then 0.0058000 which give us very very nice risk reward ratio.
That candle marked with yellowish rectangle is very good signal that the previous bottom created strong support. This doji candle suggesting bullish trend.
Clams finally good signal to buy I'm observing what is going on on this chart for last 3 weeks. I expected that the pair will go towards 6k or even 5k. I used 1h time interval to show the quite strong formation suggesting bullish movement for some time. Head and shoulders pattern hanging on the 10k psychological level is quite a good signal to me. I still have marked two Gaps on the chart and I will be looking for the TP (take profit area) very close to the lover part of the closest GAP.
Black coin watch for possible strong pullback 4H chart revealed nice flag pattern which top of it is at the psychological level 0.0001000000. I zoomed formation (see the bigger green rectangle).
Market is in favor of short sell for time being.
It is very rare for any pair to finish chart like this and I would expect that the pair will try to reach the lowest low formed within the last 6 months. I would suggest to create standing order around this level as the rebound might be very quick and will not give U chance to enter the market.
This will create triple bottom and it will be considered as a good opportunity to buy.
BCNBTC long position opportunity Bytecoin reached significant level which is latest higher high and very important Fibonacci level which is rarely used 14.6%. These two signals combined with almost perfect morning star candlestick pattern made it nice buy opportunity.
LTCBTC short 2nd Elliot wave is taking market by Storm 10%I thought that the second that the bullish for another bullish push but my suspicions were right and I it seems like that 2nd Elliot wave is on the play see BCN/BTC prediction. All the cryptocurrencies besides they use are in correlation with each other some of them more and some less but in general their behavior is very similar.
LTCBTC didn’t go thru 0.020000 which is very nice and respected psychological level. GAP based on weekly intervals is marked on the chart as well which combined with 0.02000 is creating very solid support/resistance area. I marked two head and shoulders formations plus there is almost perfect respect of important Fibonacci level 38.2. This chart is packed with many sorts of patterns and price action which suggest strong pull back and by the look at the polo exchange I wouldn’t expect prices to go up in short medium term.
I would suggest first level of TP area around 1.618% which is around 0.015000
My goal for this short position is 1.9$ which depends on the BTC value but I assume it will go below 0.010000 and I’m not expecting for BTC to go below less than 1000$.
If You look at the charts and see how some of the prices are ridiculous high compare to last year.
If You follow 10% challenge we are around -10%
I would go short here and I believe there is still time to enter the market and TP just above 0.0220000 and TP around 0.010000 or 0.05000.
I will keep You posted if I will close position before that or if something will change.
LTC correction for my previous idea Daily chart There are two important GAP’s marked on the chart green rectangle and red rectangle. These two are respected by market for quite some time. I think these two will play important role as the support if the pair will go up. Fibonacci retracement 61.8% level stopped losses. This pair might create some kind of cupandhandle formation in future.
Let’s see what kind of price action this pair will delivery in next few weeks
LTC correction for my previous idea Weekly Chart
If you are familiar with candle stick patterns there is interesting one here which deserve attention.
This is weekly chart (my opinion is that the bigger intervals of candle stick pattern or formation are more reliable then the smaller one)
I consider “rising three method” on weekly chart as a strong suggestion for continuation of bullish trend. It is not 100% as in books but please be aware that the technical analyst has more commons with art then mathematics and it is very rare that the patterns or formations are perfect.
Fibonacci retracement at 61,8% stopped shorts and it seems like it will push pair towards north for some time. There is very strong psychological resistance level combined with GAP on weekly chart around .02000.
I would consider that the pair will go down as low as .01000 as it is trading in channel between 0.1000 and .0200.
I also placed two GAP's from daily chart which will be described in next idea.
LTC short 10%Based on my calculations we have profit after 2 attempts around -4%.
I pretty positive about this one. Pair is raging battle with 0.015000 level but it should be broken soon and this should open the way towards 0.01000000.
We are aiming here for around 30%.
If you follow just please let me know or just keep an eye on the comments just in case something will change.
LTCBTC short opportunity Import level to observe are 0.020000 which is combined with solid GAP on weekly chart. This GAP rejected strong bullish movement and move pair back to 0.0100000. There was another attempt to reach .020000 but it ended up with head and shoulders formation and visible rejection at 23.6%(head of the pattern) and 38.2%(both shoulders). I will not be surprised if the pair will reach 0.010000 level in medium term.
Clams re-enter Bold predictions In the beginning 27th of May till 31st CLAMS made quite nice triple bottom formation combined with respected GAP in Daily chart and very nice three soldier’s pattern. All GAPS marked on the chart are based on the weekly chart which makes them really solid support. There is another GAP which stopped bullish movement and then we can see some extended consolidation with one attempt to break it. Unfortunately pair was unable to stay above the GAP but what is interesting the psychological number 0.00200000 stopped further losses. I can see here market uncertainty. I think that the pair is preparing for another attempt to go thru this GAP again. 13th of June pair respected .002000 level.
I marked big caffeine bullish candle on chart which in my opinion has good chance to appear some time in near future
CLAM/BTC opportunity to go higher three soldiers formation 10% I'm watching this pair for some time. It seems like that the bottom GAP was perfectly respected by market and created something like triple bottom(black ticks). There is still upper GAP which was holding pair for some time. Upper GAP was pierced in the last few days with very nice three soldiers formation. Psychological level 0.0020000 was tested couple of time for the last two weeks which suggest further bullish movement.
If the upper GAP will hold the pair above it there is a big chance that the pair will move towards 0.0040000 level.
10% challenge:
lest then 12 hours ago our first goal has been reached. If you follows me on that trade we got around 17%. <----- link in the description
This is another one and our goal is 0.00400000 which is 54%.
I will keep you posted if I will close position or something will change.
GBPUSD great price action for short trade GAP on daily chart stopped bullish movement and accent it with very nice bearish candle. We can clearly see head and shoulders formation(black ticks). This pair is in bearish trend since brexit votes. Price action like this suggest continuation of bearish trend. Respected GAP head and shoulders big bearish candles and pair is trading below 200 ema. It seems like that 1.3000 was significant psychological level which stopped all the bullish movement.
Dash failed attempt to go below 0.050 and flag pattern on 4H 10%I marked something similar to triple bottom which snuggest that the psychological number 0.05000 created solid support which hold any attempt since 1st of April. There is nice strong movement and flag pattern(marked with dotted lines) on 4H chart. I would expect from this price action that the pair will move higher and I would look for TP around 0.077000 level. It is possible that the pair will go lower but as always I think 200 EMA will push the pair higher.
I would like to try the 10% challenge.(I will always try to go small bit higher because fees etc. will take some of the profit).
Basically I will take part of my portfolio and will put it all on the trade when it will reach 10% profit I will close position and then will look for another opportunity and when I will find one I will invest all the money plus profit from previous trade and I'm gonna do it like this for 50 times. I'm expecting that some of the trades will fail so I will put very tight SL to prevent big losses. I will only trade safe and I'm not looking for the risky trades. If you are following me and you are happy with the results for the last few months you can follow me with this one and trust me I will put my money on it as well.
I will mark every trade for this challenge with 10% at the end of the description same as this one
ETCBTC interesting formation and important level to observe I was on long holidays so that’s why there is a gap in my activity on the tradingview.
ETC like most of the crypto made strong push towards north. ETC is in consolidation for almost month. There are few important levels to watch. 0.0005300 which is close to the psychological level 0.000500 and it is highest high from the 1st of May. I marked with dotted lines range in which pair should stay for some time. I’m waiting potently for the pair to reach 200 Ema and form some kind of candle which will suggest rebound to reach 0.0001000 level which for me is very possible.
I wouldn't enter market right now as it is quite possible that the pair will form some kind of different pattern and it can go way lower after 0.0005000 will be pierced.
I will keep you updated.
If you will look at the Daily chart big caffeine candle from 24th of May is the sign which is suggesting further bullish move.
Short idea on EURO!Hi guys,
this evening i've spotted this nice shorting opportunity on EURCAD. Price is testing a key daily level of structure and as soon as it touched that it got pushed down by sellers. There's also a psychological number and RSI divergence on 4H chart. Stops above highs, targets as displayed above.
Let's see how it plays out!
If you want to share your view or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Shorting EURO against CAD!Hi guys,
this evening i've spotted this nice shorting opportunity on EURCAD. Price is testing a key daily level of structure and as soon as it touched that it got pushed down by sellers. There's also a psychological number and RSI divergence on 4H chart. Stops above highs, targets as displayed above.
Let's see how it plays out!
If you want to share your view or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Nice Structure on CHFJPY!Hi guys,
after a dead calm Monday, we're now ready for the intense week ahead. Here's what i'm going to look attentively over the next week, very nice setup on the daily chart. RSI Divergence, with an Engulfing and a psychological number at a previous Structure level. This could be a reversal: bus as you may know from my previous analysis, i usually get my entries down on lower timeframes, therefore keep you eyes peeled on the hourly and 4h chart. I'll update you in case of entries.
If you want to share your view, or just ask questions, feel free to comment below.
Otherwise, see you in the next chart!