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Pullbackbuy

TRADE JOURNAL (#2): LONG GHNASDAQ:GH : Price pullback to previous breakout level around $112. Currently testing the lows prior to the breakout, which is a good support zone (support and resistance). The level that price is currently testing also happens to be the price of the 61.8% Fib. retracement @ $98.20. This would be a good support zone for price to consolidate before the next move higher (Fib. ret) S/L is placed below its prior lows, which is wide taking into account current market sentiment; T/P is at the 1.382 Fib ext level, coinciding with the 1.618 Fib ext of the current retracement ( 21Jan 21 - current). This is a swing trade after a deep retracement of the price. Will monitor price as markets could turn sour and test the 76.4% retracement levels, or even the low of $55.75
NASDAQ:GHLong
by suheysen93
Bitcoin is due for a pullback!Hello Everyone, Unpopular opinion but I believe Bitcoin is due for a pullback. Where? I would estimate around $43,000 to as low as $42,000. On the chart above, I have listed 3 scenarios for bitcoin. I believe scenario 2 will be the most likely as price action, RSI, current pattern, and MACD are all short term bearish. Let's go through the scenarios: Blue Scenario: This scenario is a healthy bullish pullback in which bitcoin has broken down from the Ascending wedge (bearish pattern) and will retest common upward trend support. This could easily keep this market going but I believe a larger pullback is more likely. Red Scenario: This is what I believe will be the most likely scenario. A healthy bullish pullback with a bearish fakeout. This will completely destroy the bearish outlook and liquidate short positions. It will allow for a healthier bull market to continue and it finally retests major support at $42,000. White Scenario: This is the scenario no bull wants to see. The bearish scenario. Yes, this is likely, however I do think it is the least likely of all the scenarios. However, as traders utilizing risk management, we need to take a look at this. This scenario breaks the bullish support of $42,000 and creates a head and shoulders (bearish pattern) for bitcoin. If this is validated, I believe it confirm that this 60% move up from, $32,000 to $48,000 was just an over extended relief rally. Why do I believe there will be a pullback? Here are the technicals: 1. Price Action is bearish: We can clearly see price going up as volume is going down which is very bearish. 2. RSI breakdown and retest 3. Ascending wedge (typically a bearish pattern) breakdown. 4. MACD flipping bearish on the 12 hour and showing buying weakness on the daily. 5. Bitcoin just saw 60% increase with no pullback or consolidation. I hope you enjoyed my analysis. I am bullish overall until $42,000 is broken but I truly believe bitcoin and alts will pullback for the reasons above. As always, be patient, use risk management, and good luck trading.
BITSTAMP:BTCUSDLong
by RomanXIV
5
ADA/USDT A pull back to 1.8 for ADA then a bounce to the upside.Let's be realistic here, the market for ADA is quite extended right now so expect a pullback then a bounce off to the upside. This is looking very bullish especially with the smart contract on the side so expect to break the all-time high. The RSI is above 80 so look out for the prices to either stay stable or correct itself to around the $1.9 level. I still believe that after this correction (I may be wrong), the prices will likely go parabolic as it has proven before. A good opportunity to buy right now would be patient for a pullback to 1.8-1.9 or a market crash (anything can happen in crypto as we've seen it before). You could indeed short right now but add a stop loss at about $2.2 because we've seen how bullish ADA has been in the past week. You may hate me to say short right now you have to sometimes be a bear and sometimes a bull to be a good trader. Good Luck EVERYONE and don't trade money you can't afford to lose!
by GrimZert
Positional Long Trade on Heritage Foods Price and Chart Analysis - 1) Stock gave a BREAKOUT above MULTIPLE RESISTANCE ZONES 2 weeks ago. 2) Now trading and retesting near breakout level. 3) Daily Candle today was a Gravestone Doji after a downtrend, indicating possible bullish reversal hereon. 4) Zooming out, looks like a possible INVERTED HEAD & SHOULDER BREAKOUT and PULLBACK, with VOLUME CHARACTERISTICS ticking all the boxes. Volume Analysis- 1) Breakout was supported by VERY HEAVY VOLUME. 2) Pullback towards Breakout level has been accompanied by VERY LOW or BELOW AVERAGE VOLUME ( Please see Daily Chart for the Same)
NSE:HERITGFOODLong
by aniketkulkarni500
$ZRX/BTC 4h (Binance Spot) Descending channel breakout & retest#0x Protocol broke bullish and seems to be preparing for next move up after that pull-back. Current Price= 0.00003119 Buy Entry= 0.00003074 - 0.00002990 Take Profit= 0.00003466 | 0.00003725 | 0.00004064 Stop Loss= 0.00002742 Risk/Reward= 1:1.5 | 1:2.39 | 1:3.56 Expected Profit= +14.31% | +22.86% | +34.04% Possible Loss= -9.49% Fib. Retracement= 0.618 | 0.786 | 1 Margin Leverage= 1x Estimated Gain-time= 2 weeks
Long
by TradingOn
Please Be Calm FET/BTC #FET $FET #FetchAIHere we see our FET daily chart and you can see the pullback we had ! Almost 25% down from our recent high over 1500 sats . As you can see we've hit a number 8 in red on our TD Sequential 9 indicator , and I expect it will hit the number 9 later today . That is usually a sign of a trend reversal and so I would expect this to go up soon . Pullbacks are normal and healthy for any chart to continue on to the upside . So we are actually under 1100 sats right now but I don't expect it to go too much lower before the turnaround . You see that pink arrow on the chart ? That is pointing at our light blue 50 MA line ( 50 week moving average . ) And that's a very strong support area . I'm not expecting to break below it . Targets for FET stand - a return to 1500 area and above that going to 3200/3420 area . Fib targets will be in linked chart below . Please be calm ! Pullbacks are normal .
by shimmeringpath
AAVE in price discovery - LONG OPPORTUNITY (UPDATE)Update on AAVE. Congrats if you took profit at the T1 on my last AAVE chart. AAVE had a healthy pullback, but I think their is still gas in the tank. If you look I readjusted the fibs and it retraced from the 1 fib level to the .786 which is a good spot to buy. The RSI is also bottomed out. This is a buy imo. You can wait to see if it goes to the .618 at $357ish but I think that’s unlikely. Also if you look at the declining volume on that move from the top down you can see there’s declining volume on a downtrend which you can interpret as less sellers are selling at declining prices. I set a stop at the bottom of the last wick. T1 - $545 (R/R : 2.29 ) T2 - $675 (R/R : 5.13 ) T3 - $748 (R/R : 6.62 )
Long
by c4iv
ETHEREUM - MOON OR COFFEE just playing with the thought of what happened to bitcoin when CME Futures started trading. I know that the fundamentals for Ethereum are good and that Ethereum still offers a lot of growth potential. But I also remember what happened to Bitcoin when CME shorts appeared. I think that a pullback in this context and in this price region is very likely, but I would not be shocked by a further price increase. In the event of a larger pullback, I could very well imagine a cup and handle and a longer accumulation phase. I've played something with support and resistance as well as measured movements and I see very dizzying price targets for the near future for Ethereum should the macro trend not stop. From my point of view, it currently makes little sense to actively trade ETH with leverage. I am therefore starting to concentrate on spot purchases in order to increase my position significantly. Time will tell what happens. Trade save and happy trading!
COINBASE:ETHUSDLong
by AndyThats-it
1
XMRUSDT nice breakout!🦐XMRUSDT nice breakout from daily resistance after tested a few times. We are waiting for a pullback the retest the previous resistance as support, According to Plancton's strategy (check our Academy), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
XLong
by InkyGrip
2
30% Drop is possibleLooking at the weekly chart, I have noticed that with each parabolic run to ATHs, bitcoin pulls back at least 30%. Mid Jun 2017, we saw a run then a pull back of 40%, another 40% late August 2017, again mid November 2017 (35%) and by the end of 2017, another 40% before the bear market initiated. Analysts have been anticipating this break down for a while after a couple weeks of indecision and sideways trading. In my previous idea, I was way too early to jump on the candle close below the 4hr EMA ribbon, but now that there has been confirmation, we have already seen a 6% drop today. Price target will be at low 17k.
GEMINI:BTCUSDShort
by kingcheng