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Rangelow

#analysis 59 - Weekends endSo the weekend has finally come to an end, and we can see there's not much altcoin flied far. Now Bitcoin has come to a consolidation phase. Not pretty sure how it go, so flat now. But I did check the chart of FTT. It seems that pretty good if we reach the lower part inside the range. Look forward to going to the range high if we made a bounce down below. However, the SL should be at around the range low, not below the OB for safety. Why? The range low has already tested for 3 times, which is not pretty good for general cases. Also, now not pretty sure how Bitcoin go in the new week. We'll set it when Monday ends. So let's take a rest for another day.
F
by p3nchan
UAA, bullish retest falling wedge. Under Armor, a stock I have been watching closely. Multi-year falling wedge breakout and retest. Volume is screaming capitulation coming into 07 high of $9.28. RSI on the macro TF'S are oversold so I am very interested. Trading at a lower P/E ratio than peers in the sports brand sector. 10 SMA tracking sideways indicates a sideways moving market and we are certainly at the lows of the range ($7.15-$27.5) so slowly nibbling into weakness is the way I'm playing. Initial targets of the 10 SMA lining up with the eq of the range at $17.30. I'm not really a big harmonic kinda guy but we have a bullish shark in play, SL-$5.97 TP1-$16.41 TP2- 26.19
NYSE:UAALong
by Chopstick_Charlie
2
NZDCHF PA Range| .382 Fibonacci| Stoch Buy Cross| 21 EMAEvening Traders, Today’s analysis – NZDCHF- deviating back to range low where support is probable, Points to consider, - Price Action Impulsive - Range Low Support (.382 Fibonacci Confluence) - 21 EMA Resistance - RSI Bullish Control Zone - Stochastic Buy Cross NZDCHF’s immediate price action is trading towards Local S/R that has technical confluence with the .382 Fibonacci. A bounce here is highly probable, allowing for a bullish bias. The 21 EMA is current dynamic resistance, breaching this in the immediate short term will show convicting in price action. The RSI is trading in its bullish control zone, maintaining these levels are indicative of strength. Current stochastics has a valid bullish cross coming to fruition, confirmation will signal an immediate momentum shift. Overall, in my opinion, NZDCHF is a valid long with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps! Thank you for following my work And remember, “You never know what kind of setup market will present to you, your objective should be to find opportunity where risk reward ratio is best.” ― Jaymin Shah
Long
by AzizKhanZamani
NZDCHF Daily Range|.382 Fibonacci|21 EMA| Swing Low|Price ActionEvening Traders, Today’s Analysis – NZDCHF- finding range high as resistance, a reversion to range-mid is probable, Points to consider, - Price Action Impulsive - Mid-Range Support (.382 Fibonacci Confluence) - 21 EMA Dynamic Support - Range High Resistance - Below Average Volume NZDCHF’s immediate price action is impulsive above Range Low; a retrace is healthy for further upside. The current Range- Mid is in technical confluence with the 21 EMA and .382 Fibonacci, price action is likely to have a reaction here. Range High is immediate resistance, price breaking this level with conviction will negate the short trade. The volume profile is below average, an influx is highly probable when testing key trade locations. Overall, in my opinion, NZDCHF is a valid short with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps! Thank you for following my work And remember, “There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.” ― Yvan Byeajee
Short
by AzizKhanZamani
4
THETAUSDT| Dynamic S/R| 200DMA| Range Low| Declining Volume Evening Traders, Today’s analysis – THETAUSDT – breaking Dynamic S/R, failure to close back above is bearish. Points to consider, - Price Action Pivot - Range Low Support Confluence - Dynamic S/R Resistance - Oscillators Neutral - Declining Volume THETAUSDT’s immediate price action is below 21 MA and Dynamic Support; this allows us to have a bearish bias in the immediate terms. Range low is projected support that is in confluence with long liquidity and 200 DMA, price action has a probability of bouncing here on first attempt. Reclaiming Dynamic S/R will show strength in price action thus negating any bearish biases. Both oscillators are trading in their respected bearish control zones, remaining in the area will show weakness in the market. The current volume profile is declining; an influx will be imminent when testing key trade location such as untapped long liquidity. Overall, in my opinion, THETAUSDT is a valid short with defined risk; price action is to be used upon discretion/ management. Hope this analysis helps! Thank you for following my work And remember, “When you learn to let go of the need to be right, being wrong gradually lose its power to disturb you.” ― Yvan Byeajee
Short
by AzizKhanZamani
2
GBPUSD Local Range| Bearish Retest| Range Low| Volume InfluxEvening Traders, Today’s Analysis – GBPUSD- deviating back into local range with range low being the target, Points to consider, - Price Action Impulse - Rang Mid Support - Range Low Target - Oscillators Extended - Volume Influx GBPUSD’s immediate price action has confirmed a bearish retest; this allows us to have a bearish bias. The local range mid is current support, this level is in confluence with the 200 MA that has been lost. Range low is likely to be tested, this area is the immediate target, breaking below will have revised targets. Both oscillators are overextended; a reversion to their mean is probable which will coincide with an oversold bounce . The volume profile has a valid climax, climatic volume is suggestive of a temporary top/ bottom being in place as price find its equilibrium. Overall, in my opinion – GBPUSD – is a valid short with defined risk, price action is to be used upon discretion/ management of trade. Hope this analysis helps! Thank you for following my work And remember, It does not matter how slowly you go as long as you do not stop.”Confucius
Short
by AzizKhanZamani
GBPUSD Long |Range Low| .382 Fibonacci| 200 MA| Price Action Evening Traders, Today’s analysis – GBPUSD- breaking back into range, currently testing range mid, a pull back into range low is probable. Points to consider, - Price Action Impulse - Range Low Support (Technical Confluence) - Range High Target - Oscillators Neutral - Low Volume GBPUSD’s immediate price action is impulsive, follow through will allow us to have a bullish bias on the market. Range Low is in confluence with the .382 Fibonacci and 200 MA, price action is likely to be respect this region upon first test. The Range High is immediate target, price action breaking this level will very bullish in the immediate short term. Both Oscillators are currently neutral, trading in the bullish territory zone, remaining at this zone shows strength. Volume profile is currently below average, an influx is highly probable with the test of range low as this is the next trade location. Overall, in my opinion, GBPUSD is a valid long with defined risk, price action is to be used upon discretion/ management of trade. Hope this analysis helps, Thank you for following my work! And remember, “Amateurs think about how much money they can make. Professionals think about how much money they could lose.” – Jack Schwager
Long
by AzizKhanZamani
4
TSLA Swing High| Range Low| .618 Fibonacci| Bearish RetestEvening Traders, Today’s analysis – TSLA- swing high back into range, price action is currently bearish under range high. Points to consider - Bearish impulse break - Range low support - Range high resistance (bearish retest) - Stochastics sell cross - .618 Fibonacci TSLA’s bearish impulse back into range allows us to have a bearish bias on the market. The Range low support has been respected, leading into a sizeable bounce. Price action respecting range high will establish a bearish retest. The stochastics has a valid sell cross coming to fruition, this is indicative of momentum shifting. Immediate target is the .618 Fibonacci, holding this area will be crucial for the bulls. Overall, in my opinion, TSLA is a valid short with defined risk; price action is to be used upon discretion/ management of trade. Hope this analysis helps Thank you for following my work! And remember, “Hope is bogus emotion that only costs you money.” – Jim Cramer
NASDAQ:TSLAShort
by AzizKhanZamani
EURUSD: Bearishness Into Range Low? Waiting For Reversal.EUR/USD update: I am writing about this market in particular because I called a long swing trade yesterday evening that got stopped out. Those of you who are on S.C. most likely saw the signal in your email. Unlike others, we embrace losses and learn from them. In this report I am going to highlight one idea that would have been better for this situation. The trade was: Long 1.2133 Stop 1.2085 Target 1.2190. What was the problem? This trade was taken on a daily pin bar signal. Often these type of signals need breathing room. In other words, price tends to retrace partially or fully after the signal which occurred at the break of the pin bar high (1.2133). The best way to capitalize on this is to split the position in half. Buy half on the break, and place a limit order at some proportional amount lower to take advantage of a situation like the one occurring now. If price never pulls back, you are in the market with a smaller position, but at least you are in. If the market retraces and fills the other half of your order, now you have a lower average price which will allow you to use a wider stop. Either way, this would be better than all in, all out because your risk is basically the same while giving the market more room to breath. If I had placed the stop below the pin bar low, this trade would still be active. If the market reverses back up which has higher probability at these levels, I would still be in. From a technical standpoint, this market is still fluctuating around a very important level. The 1.2080 level is the range reversal zone boundary. If it holds here and mounts a reversal, 1.2195 is the first resistance (.382 of recent bearish swing). This is the conservative target since a move off of the range low has the potential to reach the 1.2279 to 1.2383 resistance zone (.618 of recent bearish swing). If another trade signal goes off, I will send out more specific instructions on how to enter the trade based on what I wrote above, but it will only be available on S.C.
by MarcPMarkets
4
GBPUSD: Range Low Offers Potentail Long On Horizon?GBPUSD update: Price has broken below the nearest reversal zone boundary at 1.3988 and closed weak. It has also shifted the bullish trend line which means it is best to avoid this market until it stabilizes in the near term. Trend lines serve as a visual guide for potential reversal levels in the future. When a trend line is broken and needs to be adjusted, it can be confusing. Is it a trend change? In this case, no, it is indicating that the broader bullish momentum is slowing (as slope becomes more horizontal). In order for this trend line to offer any value, price needs to establish a reversal off of it now, and then any retest in the future is what we want to watch closely for a higher probability setup. The key level that is in play now is the 1.3551 reversal zone boundary. This level represents the extreme range low and if a reversal pattern can materialize in this area, that would offer a high probability swing trade long scenario. It all depends on the price action. As you can see, when price reached the 1.3988 area which offered potential, a reversal pattern could not materialize for a swing trade. This is why buying at a predetermined level is not enough to justify taking risk. The predetermined level must be accompanied with evidence that buyers are actively absorbing sell orders. This activity is expressed in particular candle patterns which is what we look for at S.C. in order to issue a signal. Many traders attempt to interpret fundamentals when it comes to the forex market. There is nothing wrong with that if you are into that sort of thing, but through TA I am able to arrive at the same conclusion, often faster, without having to pretend to have a PHD in macro economics. Price discounts all known information in the world at the present time which means the fundamentals are often reflected in the price action and why chart analysis offers substantial value, especially on the short term. As this market attempts to push its range low of 1.3712, we will be watching for reversal patterns that have the potential to offer a trade scenario that can see price retest the 1.4100 area which is the middle of the range. Check for updates and longer time frame Elliott Wave counts on S.C.
by MarcPMarkets
9
BTCUSD: Weak Hands Being Shaken Out. Consider Longs.BTCUSD update: Price retests 11600 range low area in a dramatic bearish move, which in my opinion is an attractive area to look for position trade longs because this is where the weak hands are shaken out. The 11600 area is a key level because it has been bought up from that point since mid December which makes it a significant range low. It is also just above the 10988 to 8656 support zone which is the .618 area relative to the recent broader bullish structure measured from the 5400 low. What makes this area attractive for position trade longs? A position trade is more like an investment. It looks to capitalize on the broader trend which in these markets is still bullish. When a short term reaction such as a panic spike occurs, and it takes price into extreme levels, this is often where the inexperienced investors get pushed out of their positions for a number of reasons. There are two ways to go about getting into a position in a situation like this. First, you can just place a limit order at a lower price such as 11500 and see if the bearish momentum continues to new extreme lows. The more extreme the push, the more of a chance it reverses back up. The second thing to do which is more conservative is wait for some price stability to return which can come in the form of a higher low. Waiting for stability means you will not get the best price, but momentum will be more favorable. As far as my plan, I still have a position from 13150 that I plan to hold. I am also looking at this panic as an opportunity to add, but since momentum is extreme at the moment, I want to see if price can get inside the 10968 to 8656 zone and add more around there. If I was not long from 13150, I would look to initiate a position around current levels because in the long term, this is a buying opportunity. In summary, now you know why I always write about locking in some profits at highs. Also be careful not to get caught up in all the hype and extreme predictions. When buying into a sell off, it has to be done with carefully thought out position sizing and NO margin. Anything is possible in these markets, and although I do not believe it will retrace back to 5K, you want to keep risk under control just in case, and fractional sizing is the best tool to achieve that kind of control. Conditions like this offer great prices for the longer term investor which is a function of the larger magnitude support levels that price is testing at the moment. Remember, when markets look their worst, that is often the best time to buy, but it has to be done in a way that always accounts for the risk. Comments and questions welcome.
BITFINEX:BTCUSD
by MarcPMarkets
69