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DIVERGENCE in GOLD - Long Opportunity Fundamentals - GOLD and JPY are both assets used as safe heavens and therefore are strongly correlated. Lately, there has been a strong divergence when gold dipped. This could indicate that gold is underpriced. In addition, the shadow of a trade war and Trump's comments are worrying investors who are looking at tensions combined with a really high financial market. They could increase their demand for GOLD and push prices up. Finally, institutions shorted massively GOLD to profit from its recent big drop; when they cover their short, prices will shoot up. Technicals - MACD is about to bounce & price is about to cross the 180EMA, indicating a potential uptrend. Prices are currently consolidating around 1200-1205 (Remember the usual GOLD cycle: Drop - Consolidation - Recovery). My first target is 1225 on a swing trade.
TVC:GOLDLong
by Tutur
Fibonacci Long For The EUR/USDThe daily chart for the EUR/USD pretty much sums up today’s action. A big red candle is forming and downside support is coming into play. To capitalize upon the sell-off, a long position from just above the daily 62% current wave retracement is a viable entry. Here is the trade: 1)Entry: Buy 1.1611 2)Stop Loss: 1.1572 3)Profit Target: 1.1636 4)Risk vs Reward: Sub 1/1 Convergence of technical indicators is always a good thing. While the 62% retracement (1.1608) stands alone, the proximity to the round number of 1.1600 gives credence to its potential effectiveness. This trade will remain valid until Friday's close.
Long
by FXLeaders
Fibonacci Long For October WTI Crude Oil FuturesWith the API and EIA inventories reports rapidly approaching, it looks like energy bulls are happy on the sidelines. In the event that we see a further pullback in October WTI futures, then a long from daily Fibonacci support will come into play. The trade: 1)Entry: Buy $67.26 2)Stop Loss: $66.99 3) Profit Target: $67.53 4) Risk Vs Return: 1/1 It is anyone’s guess what the inventories reports will bring. However, if given the opportunity, a short-term position from the $67.25 handle is good trade location to the long.
NYMEX:CLV2018Long
by FXLeaders
Ultra solid support for BTC is the weekly MA200A quick chart illustrating that even in the bearmarket of 2014/15, the MA200 weekly support was holding. It therefore seems, that this support acts as ultra strong lonterm support, so imagining how this support will develop, could give hints about the future price development of BTC. If BTC is to repeat a bearmarket 2014/15 style, it is very likely that price will touch the MA200 support again. This will lead to a drop into the 3k price area. Plusminus of course, could be as low as 2500, or only 3500. But the ultra strong support area is somewhere in that range. After mid 2019, I see prices rising again at the latest, and picking up speed through 2020, which will lead to the next rally, with a top in the 100-200k area. A lot depends on future ETF decisions now, so we just have to wait and see. But even without any ETF approval, chances for the rally in 2020-2022 are very high due to the halving.
BNC:BLX
by SebastianofMoon
5
EURUSD Breaking Bad - Look to Short the next counter-rally EURUSD EUR broke important support at the 1.15088 line on Friday and then collapsed in a near straight line towards the next line of support at 1.13679, after making a low 19 pips above here so far. All these lines on DXY and Gold and here too are weeks old and none of these charts have had to be updated or amended....showing how slooooow most markets are compared to Bitcoin, which needs updating every day and somettimes more. There's a lot to be said for the quiet life. Bitcoin is Formula 1 full-on - or used to be : ( Everything else is so sloooow in comparison. Still believe that Bitcoin provides the best training ground for trading across multiple markets - but they require way more patience usually, that's all. The break on Friday looks like the prelude to bigger a break-down which should take EUR back down to 1.0855 and potentially as far back as 1.0490 through the Autumn/Fall period. In the very near term the nearest support potential lies at 1.1367 and extends down to 1.1316 which should create a counter rally back to the 1.148-1.1508 range at best before it falls away again - it may be quite dramatic when it does. Look to short the counter-rally with stops just above the 1.1532 level by a few pips. Can use the DXY chart as confirmation. TP 1 1.1118 TP2 1.0855 TP3 1.0490 For fastest updates in real-time please see Global Markets link at top left of main page.
Short
by sumastardon
3
ETC – repeated history of LTC? 400% in 6 weeks?Hi Guys! As Bitcoin price drops down there are many alts that actually grow. One of them is Ethereum Classic. We all now Coinbase is going to support ETC starting from 7th of August 2018. After around two weeks when enough liquidation will be obtain they start active trading. Will we repeat the success of LTC from last year when Coinbase started supporting trading of LTC? We think yes! Anyway we are after correction on ETC. We had a descent bounce off from 0.0019 level. We already crossed EMA100 on daily chart as well as TenkanSen from Ichimoku Cloud. So this trade should be safe so far according to mentioned indicators and current place on the chart. We also observe MACD bull’s cross and evaporating supply on Weis Volume indicator. The only thing we need is more volume. Once we will be bombarded by good news related to Coinbase and ETC, the rally should start. Look at the ETC and LTC comparison. The both were really low before the rally. Once EMA100 on daily chart was crossed, supported by the good information the substantial growth was observed. What do you think guys? Are you fully loaded? Are you counting for such scenario as with LTC in 2017? Once again thank you for being here. Thank you for all likes, comments. You are really great community. HUGE Hugs! WBM Team
Long
by WBM_Team
8
BTC is pumping !!! MOON !!!! LAMBO !!!! ....or is it?Well, as soon as BTC starts showing some strength again, I start seeing the funniest pictures on tradingview. People calling 100k this year. That is some real shilling right there. Yeah, let's make the newbies think that the ETF is a magical 100k+ machine, the ETF will just buy up ALL THE COINS, drive up the market volume magically x10-20, bring millions of new people into crypto withint the next few weeks, magically buy up the 1800 coins that are minded per day, and then buy even more coins, hehe. You see where I am going with this. Yes, if the ETF gets approved, it will be an awesome achievement for BTC, and very good in the long run, meaning from 2019 onwards. But the ETF needs some time to kick in. It WILL kick in, but not instantly, that is not how this works. For the next bullrun we need REAL volume, REAL people, REAL hype. The ETF cannot do this alone. By the way, I called such a corrective structure already months ago: Therefore I am not too surprised. I sit back and ejoy the show :) Short term I am bullish (1-2 weeks), mid-term bearish (5-8 months), longterm (1+ years) always bullish :)
BITFINEX:BTCUSDLong
by SebastianofMoon
Important resistance levels for this bearmarket rallyIn every bearmarket there are rallies, this one is no different. To find out how high this will go, we should not just look at the daily picture, because this can be misleading, but also the weekly picture. This one shows that the upper bound of 11k is very unlikely to be achieved. Why? The upper bollinger band AND the daily MA200 are in the high 9k's. I don't think btc has the strength to push through. This rally will have the effect of weekly MACD turning green for a while, but only slightly and weekly stoch RSI going to overbought, very fast. When weekly is overbought, we can resume our decline again. But I will stay long until at least the lower bound resistance line. If it goes through, one can go long again until the high 9 k's. So: Short term long, medium term short. But longterm BTC is always long hehe.
BITFINEX:BTCUSDLong
by SebastianofMoon
2
BTC – time to ride. Lot’s of negativity but we go upHello Traders! Still not sure where BTC aims? We like quotation from Barry Silbert, founder of Digital Currency Group which is one the most prolific investment fund. He said:” When the chair of the Fed says negative things about bitcoin, and Howard Marks says negative things about bitcoin, and Ken Griffin says negative things about bitcoin, and bitcoin doesn’t move, I think that’s a bullish sign” So this is so true. There so many “prominent” people who sow anxiety on and on that people don’t believe them any more. They are the face of the old, centralized system for those who have connections and are able to elbow their way. Crypto assets are different – owning them you can actually influence the way they go. This means power to everyone. How cool is that? This is normal for such people to defend their positions. They don’t want lose money and their influence. But this is actually happening. People are getting understand that. They don’t defend people. They defend themselves and their interests. That’s it. Looking back at the chart. Locally we are in the uptrend Gann Fan – strong uptrend – if you think of selling wait till we cross 1/1 line. Then reload. We have resistance at level between $7500 - $7800 to break. Once broken we will attack $8500 and $10000 MACD – positive convergence observed Volume Flow Indicator (VFI) – still room to grow – let’s see if we break last peak Chaikin Money Flow – we have a positive divergence So guys what are you hopes and expectations? What does you intuition/experience say to you? Do you have similar feelings as Barry Silber and us? Share them with us in the comment section. If you like our job don’t forget to like. In order not to miss any updates click follow! Thank you for your support. HUGE Hugs! WBM Team
BITFINEX:BTCUSDLong
by WBM_Team
Buy gold in .... 2032 ?!?!Well gold broke through an important support, which led me to look at the big picture on very long timeframes. It is interesting to see, that the first major gold rally, sparked by Nixon's lifting of the gold standard, has quite some fractal similarities with the second one, sparked by the gold ETF. Now, if we compare the two, we get to the conclusion, that if history repeats itself, we could see gold going sideways for a veeeeeery long time. Like very, very, very long. I identified the fractals with numbers for future peaks and circles for peaks that already happened. I hope to see a gold rally earlier, but the miserable performance of precious metals the last years doesn't make me too optimistic short-term or medium term. A rally will come of course at some point, but it could really take a while.
FX:XAUUSD
by SebastianofMoon
6
BTC monthly pictureIn the monthly chart, we're firmly in bearish territory after the bearish monthly MACD cross. There is a lot of momentum behind such a move and it needs time until we can get green again in the monthly timeframe. Looking at past history, and assuming that the timescales will be roughly the same this time, we can assume that we'll find the low in early february 2019 at around 2500 USD. It could be faster, or slower, we cannot assume that we'll definitely see the exact same speed unfolding this time. But as a rule of thumb, one can start buying bitcoin unter 4000, and really really start buying at 3000, hehe. At least I will do that, of course I don't wanna tell you how you should invest your money :)
BNC:BLXShort
by SebastianofMoon
4
A new relief rally?So BTC broke through the downtrend resistance and it seems that we'll be pumping for a while. Weekly and 3d is oversold, so this pump had to happen at some point. I am just surprised that there hasn't been a shakeout dump before that, only a slow grind down. Quite boring for BTC actually. And that despite that quite high longs. Well, that was an interesting surprise. I think we'll be headed back to 8k territory, and then at some point the bearmarket will resume again. This is a bearmarket relief rally and nothing more imho. We're not done yet with this bearmarekt, target still remains 3k imho. However, I am switching to short term long.
BITFINEX:BTCUSDLong
by SebastianofMoon