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Short-long

Lets play the waiting game.Price has tested the upper boundary of the descending channel but has respected it for the most part. Price is showing some strength to the downside as well. We will have to see how the price treats support and whether it can hold or not. I personally think that price might consolidate at support for a little and then continue down to the TP I have listed. I'll make a decision about a trade once price has shown me where it wants to go. Here are my numbers for the trade. Entry - 0.73200 Bullish Stop Loss - 0.72721 Bullish Take Profit - 0.74000 Bearish Stop Loss - 0.73764 Bearish Take Profit - 0.72046 Risk - 1% R/R - 2 As always, Stay safe and stick with your plan.
by Emerald_City
1
Ethereum Notably BullishEthereum is notably way more bullish when compared to Bitcoin. This same yellow trendline from the bottom of March 12 2020 crash on Bitcoin is broken to the downside however on Ethereum it is not. This seems to play into the fact that throughout 2018 all the altcoins pumped to extreme levels while Bitcoin died. If Ethereum breaks to the upside of its ATH and Bitcoin doesnt mess things up, I could see Ethereum Reaching $7200. However, if Ethereum breaks the yellow line we could see a 95% drop to $250 levels for the bear market bottom.
BITSTAMP:ETHUSDLong
by ShadowBahamut02
2
QQQ Gap fill play or rally to 380The Q's have had a beautiful breakout of this falling wedge, which is slowly becoming one of my favorite patterns to play, which we played on HUT, DOGE, RBLX, and AMC recently. I will make a video about that pattern soon. We have seen most tech stocks take off the last few days, which we can attribute to the whole tech industry (QQQ) in a small bull run here. I unfortunately did not catch this breakout move at the time, however, I will be waiting for the pullback down to the 368-370 area where we can hopefully find some support. I will be playing the Q's when they get back to the breakout level of around 370 and will be playing either side, with the idea of filling that gap at 360 or retesting resistance at 380, I believe it will be the gap fill play however. Problems: With that breakout, QQQ did leave a gap at 360, where we should have to fill before we can go any higher. RESISTANCE LEVELS: 380 = mental and previous level of resistance 382 = ATH Support levels: 370 = previous level of resistance, can hopefully find support there in the near term before going down and filling that gap at 360$ below 370, I think has to go down to at least 360 in order to fill that gap
NASDAQ:QQQ
by GringoRiley
USDJPY💲Corrective reduction❗A breakout and confident fixation of the price outside the channel indicates an erroneous interpretation of the emerging wave situation. Probably, at the moment we have a large zigzag in which the wave is developing. The specified wave, as it should be, takes an impulse form. It is possible that the formation of the wave was completed earlier, which means that in the future we are expecting a correctional decline within the framework of the development of the wave. Potentially it looks very interesting, so it's worth trying to participate in this. Investment idea: sell 114.20, stop loss 114.40, take profit 113.00. Have a nice trade!
Short
by TradingAlchemist
3
BTC - Potential To Form Double Top Bitcoin looks like its going to attempt to retest the broken neckline of the head and shoulders pattern that it formed. The neckline is also located very near the trend resistance dating back to June. Today we saw a drop to the 0.236 fib level and a quick bounce back up. I would expect Bitcoin to continue to respect the fib levels, thus some key price points to look for are 53.8K - 51.3K - 49.2K - 47.2K - 44.3K. I dont know if Bitcoin will have enough steam to break above both the head and shoulders neckline as well as the long term trend resistance. If it does fail to break above those points but does at least reach them, then we would likely form a double top. If that is the case I would expect a drop to 51.3K at the minimum and 44.3K at the max. The Greed/Fear Index currently sits at extreme greed. It would make sense to squeeze out those who took late short positions before wrecking those who take long positions at resistance, but since this is Bitcoin we are talking about WHO KNOWS! For the moment I am going to sit on the sidelines and wait for BTC to show some signs of weakness near resistance before opening a short postion. Until then I will just sit back and enjoy the action! Thank you for viewing my post. If you like these kind of ideas - follow me for more!
by Nutty_Trader
BTC Dump coming?Hi guys, hope you are doing well. I'd like to discuss BINANCE:BTCUSDTPERP . I'll go straight to the point. Basically, people think this last pump that happened last week probably means a new ATH in some time... We trade what we see, and what I see is 2 legs to the upside on the 4h timeframe, distribution in the yellow box, a false breakout and now I'm expecting a dump. Will this dump be as huge as before? Who knows, I'll take profits in the previous high. Manage your risk and only trade with money you can lose! We don't want you homeless. #DYOR
Short
by chutireality
4