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S_rzone

Bitcoin S/R Levels to Look Out For in the (far) FutureIn this chart i used very basic S/R flip methods to define S/R zones that could play a role in future price action. Generally you want to look to long the green supports (or better retests of it) and short the red zones (or better retests of it). If price breaks a level it flips to the opposite. S to R and R to S. This is a very high time frame view, thus good for swing trading or longterm investments, not for scalping! Have fun with the chart and remove or add levels you like. Have a nice day and dont forget to zoom out ;)
BITFINEX:BTCUSD
by FlashBozZ
1
GBPAUD Long: Breakout to New Monthly PivotGBPAUD has broken a bearish trendline and could possibly reach its new monthly pivot for February, 2016. This is a simple mean reversion trade based on structural S/R and a trendline breakout. Support may be found at the 200SMA and 200EMA lines in addition to S/R from structural lows. The short-term bullish trendline may also add support should price reach those levels. Entry is placed at the retest of the bearish trendline with SL below structural lows and target at the new monthly pivot.
Long
by glennmercer
1
GBPNZD Wave Count: Bull Bat ABC Continuation to Gartley TargetOn the daily time frame, price has been rejected at the PRZ of two larger harmonic bullish patterns (Bat + Gartley). The rejection was swift with a 5 wave bullish impulse, followed by a triangle correction and another small impulse to complete a 3 wave pattern (labeled here as (A) of a possible zig-zag correction). Now we are nearing the completion of a bullish bat pattern near previous corrective wave support (B in this case). The bat PRZ may also be supported by the weekly pivot and the 200 period moving average. The (A)=(B) level is confluent with .618CD on the higher TF patterns, so we may see these higher TF patterns meet their targets with this ABC zig-zag correction. With entry at the bat PRZ, SL placement at 1.13XA and target taken at the confluent target level, this is a low risk high reward trade with a R/R of 8.14. Confluence in the PRZ: Bullish Bat (1D TF) Bullish Gartley (1D TF) Bullish Bat (1HR TF) Previous corrective wave support 200MA support EW Count suggests upcoming bullish impulse .618CD & (A)=(B) target confluence Weekly pivot support Structural S/R Zone
Long
by glennmercer
2
Long USDCAD: Bat + Butterfly + S/R + Trendline + PivotHappy New Year, traders! Here is a trade to consider after the holiday. USDCAD has completed 2 bullish harmonic patterns at week-long trendline support. The PRZ falls in a S/R zone and the new weekly pivot for 1/3/2016 coincides with the 50% retracement of the CD leg, making this a nice level at which to take profit. To add to bullish bias, RSI has printed bullish divergence. Entry is taken at the base of the PRZ near trendline support with SL at 1.13XA and target at .5CD and the weekly pivot. Confluence in the PRZ: Bullish Bat Bullish Butterfly 2BC Projection 1.272AB=CD Unhit weekly pivot coincides with .5CD S/R Zone Trendline support Bullish RSI Divergence
Long
by glennmercer
2
GBPNZD: Long at BAMM Line, Short at BATA series of two trades is setting up on GBPNZD. The first is a long position after the close above the BAMM line (body) toward the bat PRZ and S/R Zone. The second, should price reach the bat PRZ, is a bearish bat opportunity. This iwll be an excellent opportunity to short because the resistance structure is strong in this area. Entry is placed at .886XA with SL at 1.13XA and target at .382CD. Confluence in the bat PRZ: .886XA 1.5AB=CD 2BC Projection
by glennmercer
4