BITCOIN IN SHORT-TERM TROUBLE? TWO RESISTANCES HITIf you’re long in Bitcoin, beware. Two big resistances are both being hit at the same time.
First there’s the 2019 high. Secondly, we hit the upper limit of the upward channel since march. My advice would be exiting your short- and medium-term investments and look for a new buy-in around $12,000. I’m still long-term bullish on Bitcoin.
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Short-term
Bitcoin - Keep your eye on 4 hour inside bar for direction Bitcoin is currently printing a 2nd inside bar for us to decide which way Bitcoin may break.
Watch for a break if we move past the high of $13,387.30 or the low of $13,149.43 from the previous inside bar.
Whether we break bullish or bearish, I would still expect us to stay within the broader tightening equilibrium pattern for now.
Current equilibrium resistance is $13,687.82
Current equilibrium support is $12,976.29 and then $12,891.57
Good luck trading.
GBPCAD Short Trade SetupHello Traders
It broke the top of the blue A wave and dropped immediately. It looks like we have a complete regular flat. Of course, it can go up more. We have still some room under the orange trendline and a pretty strong Fib confluence. So we will see if it will fall, or make a correction for one last upward impulse. I'm waiting for one more upward impulse and a reversal pattern to place a pending order.
Trade with care.
Bulent
SPX500 Long Trade SetupHello Traders
If the previous structure was a complete running flat (green B), we should see more upside and a new high. That's why I'm looking for long trade setups. What is made over the green trendline can be a complete correction, and a reversal pattern can be in the making. Now, I'm waiting for a correction to place a pending order. I plan to hedge my trade after the new high.
Trade with care.
Bulent
Why we shouldnt go too Long!!!Starting from the left hand side, it could be observed that there is an impulse movement with a 3rd wave extension which has the 5th wave truncated. A ((A)(B)(C)) correction was instantly noticed, this lead to formation of a Bearish Barrier: The upper line (resistance zone) was constant while the lower line (support zone) kept ascending giving life to a barrier (ABCDE).
we buy and target the 124.970 zone, we exit and enter for a sell order as soon as we hit the 124.380 while we target the 123.850 zone. we wait for confirmation before we go short. we target the
SELL
122.734,
122.196,
121.430,
120.455...
kindly like , follow, encourage us and comments if you find this useful.
Biggest Short Correction in Years (BE CAREFUL)We are very close to experiencing the biggest correction in years in the main US indexes.
We can observe a clear divergence between the index dollar and the S&P500, when it should be a mirror. Something says something smells bad.
We must bear in mind that the SP500 is at a significant top and that it is highly unlikely to break it due to the current social, economic and political situation. Also, all growth has been financed by the FED so there is a clear disconnect from reality and current affairs.
Analyzing this scenario, we are seeing a potential strong long-term pullback, probably in a few months.
- I would like you to comment on your ideas and opinions, that enriches us.
Simple Trade, Another Short from H-1 ?We could take action for short and don't forget to put your Stop Loss..
The price is bullish after touching the support level , it is a good sign for us to take action to buy for short since the support level is respected so many times, it could be the other one, but.. don't be overwhelmed just take it easy wait for the confirmation for bullish, take your action and put your stop loss..
XAUUSD Short Trade SetupHello Traders
We may have a complete regular flat. That's why I'll take a short trade if it gives me a valid trade setup. As you can see, a very important Fib confluence level was tagged. We can get the reversal impulse soon. That being said. There is no divergence inside the C wave, and there is another strong confluence level, which might be reached. So we can have 4th and 5th waves. We'll see that part.
Trade with care.
Bulent
USD FuturesUS Dollar futures
On Friday DX found a triple support around 93.5 (EMA100/EMA200 and a trend support).
On a 4H chart, the DXY broke both, EMA 100/200 with increasing volume showing a bullish participation followed by a low volume correction and a successful test with a high volume test candle.
On a weekly basis, last week finished with a bullish move with high volume.
Bullish short-term sentiment
Resistance 94.7-95.5
BNB Short-term 11 Day Price ExtrapolationHere we have a very simple, short term quasi-analysis of BNB looking 11 days forward. Nothing special, except that I consider that price spike an anomaly and wasn't taken into consideration in the building of the steps, duration and percentage increases. The movement upwards of the asset is conservative at a 30 % + angle and not parabolic, so hopefully nothing extreme is anticipated such as an unanticipated price drop.
I have heard some noise about resistance levels, so you may care to take that into consideration, but all I can see at this point is a gradual move upward. Now our friends at Binance are always launching something new and exciting at their exchange which may effect this asset, in fact I believe they launched something today ? I believe I did a similar chart for OMG last week, that is working out well.
As always, your comments, criticisms and corrections are welcome.
Ward Weaire
Toronto, Canada
EURGBP Long Trade SetupHello Traders
I took a long trade because the next wave should be the C wave, if the last top (the yellow B) wasn't the end of the correction. In this scenario, there is no more room to go down. So the last low should be the end of the blue B. I hope in the worst-case scenario, it will make a big enough correction under the yellow trendline and we will be able to hedge our trades, before the next drop.
Trade with care.
Bulent
GBP/USD: Short-term SHORT3 pin formation formed on GU 2 hour timeframe indicating bearish movement, also price is in an ascending channel. Price is at the resistance line of the channel, so price has to retrace before going up so more. I have a median marked off between resistance and support of the ascending channel Price will at least reach that area before moving up or down more
USDJPY - 4H Short TermWish I had posted this sooner, the wick on 6th Oct at 18:00 gave a perfect sign for a break and retest of the bearish trendline found on the Daily.
This has been broken and retested, this move may be dragged out as it is a Monday and Bank Holiday for USD/CAD so there will not be much volume.
The above resistance has been rejected once after the break of the trendline though I would hope that the recent retest early this morning can confirm that we should see a move up to prior retracement levels.
I will await NY open for any sort of intraday long opportunities.
Will watch DXY along with this pair as any bullishness for the $ should aid this bias or copy the PA
EURJPY Short Trade SetupHello Traders
One of the options we have here is a 5-wave impulse in the C. If this is the case, the last top should be the end of the 4. That's why I want to take a short trade to hedge it when the 5th wave is over. That being said, the last low can be the end of the bigger correction, and the wave that I labeled with 4 can be the reversal impulse. So, if it makes a correction instead of coming down, I'll take a long trade.
Trade with care.
Bulent