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Scottcarney

$BCH Looking To OUTPERFORM It's Peers- Bulls? WYA?+Just a update on BCH, We did have a nice move up and attempted to brute force that KEY area, but the Bears weren't having it and we took a shot down... Although, BCH is about to VALIDATE that last low and really start to dig its feet in and start pushing possibly. Both Indicators are showing at Hidden Bullish Divergence at the pattern completion zone @ the 886, This is textbook and from strictly technical analysis, this following the same parameters in recent history before a next leg up... Pushing past that Supply Line will let this thing RIP
BLong
by BShellhammer
$DOT/Broadening Wedge In the Money Zone (PENDING)$DOT has formed a nice broadening wedge at the 886 range from the last swing high to swing row and is now trying to establish/validate a new local higher low above $6.76 at the $7 range. The MACD and RSI has printed hidden bullish divergence on both oscillator's indicating that momentum is started to build back up to possibly break through the top of the wedge and have a nice run... We were due for a pullback after the last few weeks being manly green candles.. Overall, this is healthy price action and I don't think anyone should be panicking, as this is just traditional price action after a good few weeks for crypto...We also got some good news from the ETH merge. Cheers **DISCLAIMER, THIS IS NOT AN ACTIVE TRADE ATM, I AM JUST FOLLOWING THE STANDARDS OF TRADITIONAL TECHNICAL ANALYSIS. ANYTHING CAN HAPPEN**
BINANCE:DOTUSDLong
by BShellhammer
1
APE - Harmonic ButterflyMy favorite Harmonic pattern, Butterfly ... The Butterfly Pattern®, The general extension structure of the Butterfly Pattern® was discovered by Bryce Gilmore. However, the exact alignment of ratios was defined in Scott Carney’s 1998 book, “The Harmonic Trader.” This has become the industry standard for the structure. Scott’s ideal Butterfly Pattern® requires specific Fibonacci ratios to validate the structure. These measurements include a mandatory 0.786 retracement of the XA leg at the B point, which defines a more precise Potential Reversal Zone (PRZ) and more significant trading opportunities. Also, the Butterfly pattern® must include an AB=CD pattern™ to be a valid signal. Frequently, the AB=CD Pattern™ will possess an extended CD leg that is 1.27 or 1.618 of the AB leg. Although this is an important requirement for a valid trade signal, the most critical number in the pattern is the 1.27 XA leg. The XA calculation is usually complemented by an extreme (2.00, 2.24, 2.618) B-C projection. These numbers create a specific Potential Reversal Zone (PRZ) that can yield powerful reversals, especially when the pattern is in all time (new highs/new lows) price levels.
Long
by Double_R_86
2
Bullish Shark BTC Incoming 15minIt seems coming up on the bitcoin 15min is a nice bullish shark pattern setting up. The bullish shark pattern is based off the .886 minimum fib with at least a 1.618 extension of the BC leg. The resulting formation is called a potential reversal zone. Green box. It is best to wait and see if the price first gets to the green box, where the bullish shark completes, then see if price exits the zone nicely before going into the trade. If so possible price targets are the normal 38.2% and 61.8% of the AD leg. Woo.
GEMINI:BTCUSDLong
by JackDale
LTCUSD (Litecoin/ USD) here we have LiteCoin the 4th most popular coin on coinbase (COIN). this is showing a regression in price. cryptos are acting like stocks at the moment and just going up with no rest. I am not a big crypto person, as I have similar views as the SEC does and think they are an asset instead of a currency and some of the coins offer an interest rate for holding them which i think is a "stake of proof" setup. either way here we have a bearish butterfly pattern that just completed and the AMP RSI is in a very minor divergence. so i would expect to see some drop in price and if you wanted to enter after the pattern is complete then buy at the 618 of this pattern as this will be the bargain price. i know lots of inexperienced traders just hop into an asset without regard to price but if the asset is up 20% would you rather be up 18-19% with it or 10%? i hope this finds some traders well.
COINBASE:LTCUSDShort
by ARegularGuy
1
GBPUSD The Cable here on the cable we have a bearish Gartley Pattern. We currently have price kissing the 786 at the moment. what were looking for si some consolidation some confirmation on the oscillators and another good move down. This will be my second entry on the cable as i am currently short off a daily pattern. for the past two weeks we have seen the cable retrace up after the strong move down. I will be looking for an entry on the 1h. Sorry for not going into it any deeper i am behind on some school work and I am also getting back into the 4H time frame trading gonna slowly get down to the 1H again. I am also in the process in making a few courses as well that covers harmonic trading along with a myriad of other topics. When the courses go live i will upgrade my TradingView package to Premium and advertise them on my TradingView.
Short
by ARegularGuy
6
EUR/ USD (Euro Dollar) Here on the most traded and watched pair in the world the Euro/ Dollar. I am currently looking to go long on a minor retrace on this pair from this bullish bat pattern. We need the pattern to complete by touching the yellow line. We will also need to have some other confirmation signals out there on the oscillators too. Sorry for not going into it any deeper I am behind on some school work and I am also getting back into the 4H time frame trading gonna slowly get down to the 1H again. I am also in the process in making a few courses as well that covers harmonic trading along with a myriad of other topics. When the courses go live I will upgrade my TradingView package to Premium and advertise them on my TradingView.
Long
by ARegularGuy
2
Euro/ USD (Bullish Bat) Dirty Here on the Euro Dollar we have bullish bat pattern on the Daily. Overall from a position trader stand point i would remain bearish on the Euro considering for the last few DECADES the Democratic Party here in the US has a history of having hawkish trade policy which drives the value of the dollar up and dries up liquidity in the markets for the dollar. Think of it like trying to buy a Bottle of Cocoa-Cola (KO) would you rather buy the coke for 1.00$ or 2.00$ same thing for international businesses they slow down their international trade with the US as it is too expensive, because they're having to buy 2.00$ cokes (KO) to do business with other businesses or with the US. However, trading off the Daily timeframe this pair has roughly 200 pips to go just to fulfill the pattern requirements and then if it is a solid move PA will consolidate a bit before regrouping and heading up. I call this a Dirty Bat because we have to play with the midpoint and give it some tolerance. the mid point is a .522 which is close to the Maximum tolerance range outlined in Scott Carney's book. The orange line is a 1.618 over extension of the ABCD pattern . i would not be surprised if we see volatile PA in this area. the Red line is the HOP level. and if PA completely violates the HOP then the pattern is invalidated. For my Dollar Index traders, alot of us like to use the DXY as a gauge of dollar strength, but in reality if you want to know where the DXY is heading you need to pay attention to the EUR/ USD . the Euro comprises over 50% of the dollar index , followed by the Pound (GBP) at 30-ish %. Between those two royal pairs alone you will get a real good indication of where the index is heading with a massive 80% composition of the DXY . Next is the yen (JPY) , aussie dollar (AUD), the Kiwi (NZD), the CHF and the SEK . Now the DXY has formed a nice double bottom in an area of support and it is consolidating a little and having a hard time making a move. Could we see the Commercals and the Large Speculators readying to swap sides, or are we seeing a profit taking and the closure of open interest. Either way you slice and dice it the EURO Dollar ( EUR/USD ) is one of the most important pairs to monitor in the trading world as 80% of the market liquidity is tied up in this pair alone. Wanna gauge how strong the EURO is or potentially will become check out the DAX . The ECB is located in Germany and rightfully so, the Germans support the Euro by 80% or more in contribution, so monitoring the DAX will let us know the current state of affairs for the strongest supporter of the Euro ; therefore, will tell us the heartbeat of the EURO . And currently the DAX is pulling a S&P500 move with just an unprecedented move sky high trading at all time highs, just like us here in the States.
Long
by ARegularGuy