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BTCUSD low-volume ranging = traders should be cautiousGood morning, traders. Bitcoin was printing a great daily candle yesterday until near the end of the day when price fell. This left a large upper wick and small body near the lower third of the candle. Indecisive, but looking a lot like August's low playing out. We will see if we get a lot of follow-through similar to that period with candles having large upper and/or lower wicks and small bodies. That could mean another period of extensive sideways movement. Watching price movement on Tensorcharts.com shows sell walls continually appearing around $6300 with buy walls catching the bounce as price ricochets off them and heads downward. It appears that someone may be filling their orders in this area. As I mentioned months ago when the news of GS-backed Circle buying Poloniex came out, the rest of the big boys would be doing everything they can to compete. The most recent possible attempt at doing so is Citigroup's attempt at creating an ADR to allow trading of Bitcoin rather than the avenue most are taking which is based on NDF. This could allow the company to catapult ahead of the others and is very bullish for Bitcoin. (bitcoinexchangeguide.com) Throughout the pops and drops this weekend, Bitcoin has created a decent-sized descending broadening wedge (DBW), similar to those seen in June and August which makes me think we may not spend too long moving sideways as we are already a good ways through it. Currently, that would give price a target of $6850 upon breach of the descending upper resistance line. Traders should be cautious, however, as the possible bearish pennant building could potentially have price first targeting the bottom of the DBW at around $6050 upon breach of the ascending lower support line of the pennant. However, we can extend the upper line as shown and create an ugly bull pennant as well, which would provide a target of around $6660, near the equilibrium of the blue box. We can also see that blue box is at the equilibrium of the larger yellow box. I expect resistance in the yellow box, most notably at the blue box, and a breach through the top of the yellow box should set up price for a possible pop upward. I'm not confident about the pennant being anything significant due to the white space and small-bodied, long-wicked candles that permeate the possible pattern so I am much more interested in how the DBW plays out. The 4H chart shows OBV rising since September 6th, even though price has been dropping. Volume precedes price, so we should expect a decent rise in price sooner rather than later. RSI and MACD are both rising as well at this time. The 1D chart shows price printing an ascending channel. Many point to this as a bear flag, however price retraced almost 61.8% of the way to the top of the flagpole which generally nullifies it as such. Additionally, price would need to touch the top of the ascending channel once more to print four alternating top and bottom touches thereby confirming the channel/flag. This means we would need to see price reaching $7500 before it drops through the bottom. If price fails to hold its current low around $6100, then I am watching for the June low of $5775, then $5450, and $5250 to provide support. Continual drop through these levels sets up possible support at $4600-$4900. Weekly has printed a higher low and needs to breach $8500 to give us a higher high. Doing so would be bullish on a larger TF. Shorts unwound a bit during the weekend but started building again yesterday. I don't believe this will continue as I think the entity that stacked shorts at the end of the week is attempting to lessen their footprint now that retail shorts have jumped on board. As mentioned previously, it could be an attempt to generate liquidity via a short squeeze which would push price through the resistance in the mid-$7000s. Longs have also started increasing. Retail sentiment continues to become bearishly deeper. CME BTC futures has a gap up to $6400 that needs to be filled and is currently printing a possible 1D bullish hammer reversal candle. DJI is printing a 6H DBW and has a gap unfilled around $450 above its current price. VIX is dropping today as is the DXY. The latter needs to see a breach of the swing low at $94.43 to suggest further downward movement. Historically, a dropping DXY coincides with a rising BTC. Unfortunately, I came down ill at the end of last week and have lost my voice as a result so I will not be able to live stream today. I am hoping to be back tomorrow.
BITSTAMP:BTCUSD
by Chris_Inks
9
BTCUSD 4H BULLISH BREAKOUT OR BEARISH FAILUREBTCUSD 4H is in a range Price at top of range Range top @ 7156.6 Long Trade Watch for a Bullish breakout Entry long on 15m chart with a break-hook-go pattern Previous high @ 8287 will be Take Profit area Short Trade Range top breakout failed Price fell back into range Range bottom @ 6009.6 Range bottom will be Take Profit area Our pulse system is bullish so all we do now is wait for bullish breakout or bearish failure confirmation This is our Strike Trader Elite Trading Strategy available on Tradingview now. Any questions for us please PM us.
BITFINEX:BTCUSD
by Tradingstrategyguides
BITCOIN TETHER BINANCE 1H BOTTOM ROTATION TRADEStep #1: Wait until Tether Cryptocurrency price moves in a horizontal consolidation After a strong bearish trend wait until the market starts to develop a horizontal consolidation where the price moves back and forth without any clear direction. We need to see a perfect horizontal consolidation as part of the bottom rotation setup. The consolidation is the first price structure that needs to be satisfied for being able to catch a falling knife. During these times of consolidation when the cryptocurrency price moves back and forth the institutional money accumulates their positions. However, before the trend reversal to happen, the smart money will deploy one more trick to fool the retail traders. See below: Step #2: Wait for a fast breakout (clear-out of stop losses) of the support level Right before the reversal to happen, you’ll often time notice a false breakout below the consolidation support level. There is no conspiracy that stop hunting do happen in all markets and this trade setup clearly emphasizes this aspect. Two things happen when we break away from this consolidation, and both things are adding confluence to the bullish case scenario: The stop losses of those who got long off of support will get triggered. New traders will short the market because of the downside breakout. Step #3: The breakout need to be faded at the same speed as the Tether Cryptocurrency Price dropped. The key characteristic of this reversal setup is that we need to see a quick rally after the initial support false breakout. The false breakout followed by the quick recovery should develop a “V” shape type bottom. Step #4: Buy at the first close above the broken support level. You can have a second entry once we break above the top of consolidation. You can buy once the cryptocurrency Tether price closes back above the broken support level. You can initiate a first small position and buy cryptocurrency Tether once we close back above the previous support level. It’s always nice to buy cryptocurrencies at the bottom and see it shoot up. It kind of depends on your trading style and risk tolerance how you manage your trades, but we always recommend on the first initial position to only allocate a low amount of your trading capital. You have to keep in mind that the reversal is completed only after we have a break in market structure and subsequently a breakout of the top of the range. Once we see a break to the upside of that sideways action, the reversal has been confirmed and you can consider this to be a swing trade. Generally, with this situation you can close the initial trade so we can have a risk-free trade. Step #5: Place Protective Stop Loss below the “V” bottom and the Second SL below the Consolidation Bottom The ideal place to hide your protective stop loss is few pips below the “V” shape bottom. For the second entry use a protective stop loss below the consolidation support level. Also, since the first trade is closed once the consolidation top is broken we basically ensure an almost risk-free trade on the second position. We’re going to use the profits made on the first trade to ride the trend reversal. Step #6: Take Profit equals two times the consolidation price range. We use a simple dynamic take profit strategy. We simply measure the consolidation price range, multiply it by two and project that number to the upside to determine out take profit. The easiest way to visualize your take profit level is to simply draw a box around your consolidation and copy paste that box two times to the upside. Note** the above was an example of a BUY trade using the Tether trading strategy. Use the same rules for a SELL trade – but in reverse If you want to read the complete strategy PM me.
Long
by Tradingstrategyguides
Signal Stream - AUDCHF Long SignalJust now getting some time to sit down and make a few posts. There have been a number of excellent signals generated lately. ** Note - lines were drawn by me. The vertical lines are where the signal generated, and the horizontal lines are initial close range targets. This pair has been ranging strongly in the past few weeks. A long signal appeared towards the bottom of the range, one of the strongest setups for Signal Stream trades. Initial close range target for this trade fell roughly in the middle of the trading range at 0.73513 In situations like this I tend to stay content with my initial target and close out the trade once the level is reached. Given that we're in a range, price could just as easily move back against us. What I really mean to say by that is that I don't expect to have huge trades running in my direction forever by these types of trades. But they really do work quite well with initial targets. There are many ways to trade Signal Stream. Signal Stream signals have a high chance of hitting their targets even if the market moves in the opposite direction, long after the signal appears. It's like the market is attracted back to these levels if they don't hit it immediately. Celebratory sale for signal stream happening now! Get lifetime access to this subscription indicator for a one time payment of $67 USD . This offer is good for the first 100 clients, after that it will be going to monthly subscription at a higher price. PM me for details or learn how to purchase Signal Stream here!
by StreamTrader
QTUM/DOLLAR 2H DARVA BOX STRATEGYStep #1: Identify at least two Darvas boxes that are on top of each other The first trading rule is to let the market develop at least two Darvas Boxes. Basically, the two Darvas boxes are showing that the market is starting to move in steps to the downside. So at this point, the market also should be making lower highs followed by lower lows, which is the basic definition of an downtrend. In the real world, you’ll notice that the Darvas boxes don’t perfectly stack on top of each other. You’ll rarely find a series of Darvas boxes where the following box has the bottom perfectly aligned with the top/bottom of the previous box. You will notice that the price range of the second Darvas box can move into the space of the first Darvas box which still qualify for a valid Darvas box. Note* Big candle wicks are ignored when drawing the Darvas box. Use the closing price instead. Step #2: Draw a support line in the middle of the first Darvas box We’ve noted that there is no such thing as perfection when dealing with the price action. And since the Darvas boxes tend to overlap, another characteristic is that in most of the cases the top/bottom of the current box won’t exceed the middle of the previous Darvas box. In this case, we can anticipate that the third Darvas box will develop its top around the middle or bottom of the second Darvas box. Step #3: How to sell QTUM: Sell when we test the middle or bottom of the 2nd Darvas Box We want to buy low and sell high because that’s the rule number one to make consistent profits. We sell QTUM as soon as the middle or bottom of the 2nd Darvas box is tested this will ensure that we sell on a retracement in an already proven downtrend. Step #4: Place your protective Stop Loss above resistance level in the second Darvas Box Our improved cryptocurrency sell strategy comes with the advantage of providing us with a very tight stop loss. We can hide our protective stop loss within or above the second Darvas box. A break above the second Darvas box will invalidate the whole price structure and it’s wise to get out of the trade as soon as possible. Two things can measure the success of a trading strategy. First, how tight the stop loss is and secondly the stop loss placement needs to be logical not just a random price coming out from over-optimization. Step #5: Take profit needs to be 2 or 3 times more than your stop loss Opening a trade is just the beginning; you also need an exit strategy to maximize your profits. It’s often said that it’s more important where you take profits than your entry strategy The professional traders place more weight and attention on the exit strategy because that’s how they make money. Probably, this is one of the oldest trading secrets that smart money doesn’t want you to know. Note** the above was an example of a SELL trade using the Free QTUM cryptocurrency strategy. Use the same rules for a BUY trade – but in reverse.
Q
by Tradingstrategyguides
SILVER 1D (XAGUSD DAILY TRADING RANGE TRADE SUGGESTIONI suggest your enter your order ahead of the range bottom around 15.63ish (depending upon your risk tolerance), with your stop loss below the 10-July-17 low (15.1750), targeting 1/2 of the range and the top of the range (16.4766 & 17.3399 respectively.) You can take some profit off at the 1/2 point or just follow your stops and hold for the top. I suggest you be sure to size your trade so your max loss is no more than 2% of your account (or less.) Follow your rules explicitly. NEVER BET THE FARM!
FX:XAGUSDLong
by Tradingstrategyguides