ASX Double Top. The end to the bull run!!!SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe - 1-2 Weeks
Actions on -
A – Activating Event
Market will meet resistance in zone @68.90 - ..... and fall to @ 58.00. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @ 58.00
ASX:ASX
Trade Management
Entered @ Sign up for mentoring
Stop Loss @ Sign up for mentoring
Target 1 @ 58.00
Target 2 @ ....
Risk/Reward @7.1
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Signalspackage
AUD CAD longAs you can see from our chart we have marked a STRONG support level that price has tested multiple times and FAILED to break, we have a lovely bounce with the current candlestick so this is a good time to enter.
SL and TPs are reserved for our clients, if you want to join our team then just send us a message.
EU strong confirmationAs you can see from the monthly chart we have a doji candlestick formed which is a strong reversal signal, we have to wait for this current monthly candlestick to form a little more before entering the trade.
Entry, SL and TP is reserved for our clients.
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BTC/USD - Holding At support Zone?Please hit the 'LIKE' button to receive my daily analysis updates :)
Price is holding nicely at the support zone for now. Is this a sign that price could bounce from here and go higher? Let's see. The candles on the bounce are not incredibly strong, but definitely something we have to take a heed of when considering our trade options here.
If we can get a candle close above 3300 on the next 4 hour candle, that would be extremely advantageous as it would show a morning star right at the support zone, and could give leeway for buyers to enter a safe trade with a tight stop loss just under the morning star. A good risk reward would also ensue by doing this, as you have all the way up to the side-wards resistance line to reward, and only slightly below current levels to lose, so it could be worth a punt.
Bear in mind, if the morning star signal does NOT evolve, it's not logical to enter a long if price breaks above side-wards resistance UNTIL price has retested the resistance as a new support already. Any earlier you risk getting slipped out of a trade.
ALSO BEAR IN MIND, the morning star signal trade is pretty risky. So it's not for everyone. Always use your own strategy whilst trading and use my analysis merely as a framework.
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
I will continue to update this analysis in real-time if this idea receives sufficient attention :-)
ETCBTC Technical Analysis 40% target projection.You can see the Chart of ETCBTC on Daily Timeframe.
Right it is in downtrend line which may break up like BCCBTC
Market Break the falling wedge pattern.
Now Moving in Sideway.
Right now We can see the 3 Resistance level and 1 Support Level.
1 Resistance level: 0.001554
2 Resistance level: 0.001636
3 Resistance level: 0.001850
1 Support Level: 0.001378
Note: This is only for Educational Purpose this is not an Investment advice.
Please support the setup with your likes, comments and by following on Trading View.
Thanks
Adil Khan
We are doing Analysis of ETHUSD on Daily Time-frame. We are doing Analysis of ETHUSD on Daily Timeframe .
With the Help of Price action, I have made
Support and Resistance Levels
You can see there is on Support Level which is at $185, $176, $166
And Resistance Level on $207 , $232, $248
The Market can test Support Level them can move to upper resistance levels respectively.
Note: This is only for Educational Purpose this is not an Investment advice.
Please support the setup with your likes, comments and by following on Trading View.
Thanks
Adil Khan
DXY possible test of trend line?After a good push higher formed from the breakout of the wedge DXY is due a breather, we could see a slight fall and a possible retest of key levels and trend lines. We will be keeping a close eye on it from the start of next week. All TPs and SL are reserved for our clients.
[NXTUSDT +4.5%] Spectro™ M Bullish Reversal WarningThis is a signal using Spectro™ M
This is a moderate reversal signal since we have every single indicator but one in Spectro pointing towards the reversal.
The blue background is the trend analyzer telling you that we are entering a reversal zone.
The Specter Clouds™ predicts not only the oversold area but also predicts the sell target, it tells you how far off an organic move we are, so if you measure from where we are now to the top of the green cloud that's our 3.5% target.
As you can see from past trades the clouds can be very precise prediction future price.
The big green triangles mean that Spectro check 20 other indicators and they all agree in a reversal.
We can see a reversal candlestick appearing at the bottom.
So pretty much we have several signals that come before the confirmation.
We didn't have any Spectro™ M confirmations yet, but still, this is an asset that you might want to watch closely since Spectro™ M just triggered a bullish reversal alert and the downtrend is almost reversing.
Liked it? Give it a shot at, it's really affordable - you wouldn't believe if I told you: hypester.org
BTC/USD - Live UpdateIt's been a very hectic weekend for me as I've been completing business abroad so I couldn't post/update any of my analysis. Because of this I want to post a new analysis and update my thoughts and ideas on Bitcoin. Since my last analysis there has been some dramatic changes to investors sentiment thus, I have posted a brand new analysis so that you can see my refreshed thoughts and you can see the markets as if you are seeing the markets through my eyes. Price has been reeling ever since price broke the heads and shoulders pattern. As you can see on this chart, the resistance zone has been moved up now, and the support underneath. This is because, if you pay attention to the horizontal resistance line, it coincides with a previous resistance zone that occurred back in March at 7740. This is now the new resistance, and breaking it would put us into multiple month highs which is a great change of sentiment for Bitcoin considering the recent lows we have seen. I have noticed a lot of people are still saying "Bitcoin is still going down" and have said this since it hit it's very lowest. These are making the biggest mistake, because they've missed the early uptrend signs already due to their emotional opinions. Emotions in trading don't make any money, neither do some genius ideas and inventions... Remember that.
Bitcoin is currently trading at the new resistance at 7770 and 7960, which coincides with a strong horizontal resistance zone from March 2018. This clearly shows uptrend progress is being made. Price is going to do one of two different things now, which will define the short term future of this trend. They are:
1- Bitcoin will correct from the resistance zone, and correct back to the side-wards support level to 7420, before a bounce to the upside, hitting the resistance zone again back at 7770. When price is here, it could break out, and retest the zone as a support and have more up move (The idea will be updated in realtime if this scenario occurs as it is a complex trading scenario.)
2- Bitcoin trades higher above the resistance zone without a correction, then retests the horizontal resistance zone as a support. If this happens we can find the buy.
3- Bitcoin has a downside correction to the side-wards support line at 7420, corrects up to the resistance zone, and then use it as resistance again before breaking below for side-wards support and breaks lower to the heads and shoulders neckline level at 6940.
Bear in mind I am biased to the first and second scenario. I don't really perceive scenario 3 as realistic as it stands, but it's listed here because its a POSSIBILITY, and POSSIBILITY is what trading is all about. If you think trading is about picking a side and putting all your money into it, then only invest money you can afford because you will 100% lose it all after 6 months.
Please leave a LIKE. I'd really appreciate it. :-)
Thank you for all your support.
ETH/USD - Market RundownCryptocurrency continues to fall in the majority as most of the leading markets are under the mercy of a technical downtrend which is dragging price down despite numerous attempts to support and break out. Since 11th July price in Ethereum has been attempting to find support at 430 levels, and this has been holding for the past few days but has looked increasingly weak at the support as time has gone on. Price looks especially weak now, with weak candlesticks as the 20 moving average was retested as resistance was hit, and price is now rolling over since. If price breaks the consolidation support then price is going o make a solid down move to the downside in the form of a 3 wave down move. The downside target coincides with a horizontal support zone between 369 and 343, and also a long term side-wards support line at 362. Due to there being more supports at this target, logic dictates that there will likely be quite a lot of buy orders at or just under the level I have mentioned, and this is simply because from a technical analysis perspective, price has a high probability of bouncing! More supports and "circumstances" that line up in a trade, the better. In this case, especially.
The support could have held with a 50/50 odds in my opinion, until price did a clear retest of the 20 moving average and failed, showing even in the short term, Ethereum lacks enthusiasm from bulls. Why would bulls rush? They can wait for a safer level lower and just buy there! Only people in a rush will get burned trading Cryptocurrency, and experienced people will let the opportunity come to them (Basically cashing in on less patient peoples capital) and ultimately winning. My point being, let's be patient, wait for the opportunity to come to us and until then, just watch calmly, and trade the circumstances.
When price has a candlestick close below 417, this will be definite confirmation price is moving to the horizontal support zone between 369 and 343. the only way that my downside idea will be negated is if price has a firm candlestick close above 450, but as it stands, the probabilities are that we're going down.
Where do you think price is heading now? Leave a comment below this analysis with a chart so we can all share!
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BTC/USD - The Latest Sometimes when people are watching a trend for a long time, it is easy to get into a trend and become confused about where price is heading. I regularly get comments in my posts and private messages on TradingView which ask me if "x" level is the level to be buying or watching or selling, or whatever it is. This shows me that a lot of traders on TradingView are still alienated and do not know where to be entering a position. For this reason, I've developed this grass roots, yet effective chart which will help everybody know where to be looking to trade Bitcoin.
Swiftly onto Bitcoin, price is trading at 6540 after breaking below the side-wards support and using it as a resistance. Since then price has been in a gentle fall to the downside, but there's not much enthusiasm behind the move, so I simply consider the move rangebound so far. Let's look at the simple details. Price as of now is trading below the side-wards resistance it just bounced off of, and it's using the 200 major moving average as resistance, AND the price Bitcoin tested the side-wards support as a new resistance also coincided with latest swing high resistance zone. This shows there is a compelling resistance ceiling here and price is not looking to break it so far.
If you turn your attention to my above chart, you'll see a thick black line. This isn't just a line, this is what you can call your "Trend meter" (If you like). This line tells you exactly when we are in bear territory, or bullish territory. It tells you a very simple story; if price has a candlestick body CLOSE above 6690, then we are in bullish territory. If price is trading below 6620, then we are in a bearish territory... It's that simple. If you look at price at present, it's clearly in the bearish territory so now you know you should not be entering a position to the upside because of 2 things. 1: There's no candlestick reversal candlestick signals, 2: Price has not closed above 6690 which is required on the Trend Meter to confirm any uptrend.
If anyones interested, they can see how I came up with this simple line by seeing what contributed to me choosing these levels, below.
= Above 6690 = Bullish — Above 6690 is clear of the side-wards resistance line. It is also above the 200 major moving average, and it is above the highs of the previous swing leg, which has been acting as a strong resistance as of recent times.
= Below 6620 = Bearish — Below 6620 is below the 200 major moving resistance line, it is below the side-wards support turned resistance line, and it is clear of the previous swing highs which were created on the lower low when price corrected up to the side-wards support turned resistance line.
Where do you think price is going? Leave a comment with a chart below and let's share our thoughts!
I'll continue to update this idea if it receives enough likes/attention.
Please leave a LIKE and FOLLOW. I'd highly appreciate it.
ETH/USD - Buy OpportunityPrice traded right up at the side-wards resistance line beginning 4th July at 476 and price has been trading at the resistance ever since, until the last 4 hour candle. Price attempted to break the side-wards resistance line multiple times but failed to do so despite some promising candlestick reversal signals indicating that it may be possible to do so. Ethereum is now showing a bullish piercing signal (Providing it closes at current levels) and this could be yet another indication of more upside to come. This candlestick reversal signal comes at a better time than the other candlestick reversal signals that failed because the current signal is not only at the horizontal support zone, but also found support at the 50 moving average as well, which indicates a promising outcome if to be continued.
Price will now either break out of the side-wards resistance at 465 levels, hit a high at 483 (Which is the coinciding resistance of the previous breakout), then retest structure at around 457 before later breaking to the upside to my upside target at the resistance zone between 514 and 528. Alternatively, price can hit side-wards resistance at 464, fall into structure, retest the horizontal support structure once more and then later break out, to the upper resistance zone target between 514 an 528.
Bear in mind with the first scenario that price could hit 483 and come back down into structure, and need to test the horizontal support zone again. This is because at 483, there is the previous swing highs of when Ethereum tried to break the side-wards resistance the last time, so this could be the level that the price level fails AT LEAST to the side-wards resistance turned support, or further down to the horizontal support.
I will continue to update this idea if it receives sufficient attention.
Where do you think price is going? Leave a comment below with a chart and let us know.
Please leave a LIKE and FOLLOW. :-)
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Soon enough SpectroBOT will become public for a really affordable price, follow me and stay tuned - it's just the best signal/indicator out there bang for the buck!
LTC/USD - Buy OpportunityWhat's up traders,
Here we have LTC/USD on the 4H chart.
LTC/USD appears to be ready for an up move. Litecoin has recently been in a gentle downside correction after the strong up move previously. Since then, I have been watching for levels for it to bounce.
It appears LTC/USD is now ready for a nice up move. Price recently retested a strong horizontal support zone at 244.00, and showed strong reversal candlesticks at the lows. This indicated there could be sufficient momentum to break the sidewards resistance at 271 and break to the upside.
If price successfully breaks and closes above the sidewards resistance line at 271, I am expecting an up move to the upside target of 364.
Below I have posted my other Cryptocurrency related ideas. I would appreciate it if you could view my other content an leave a like.
I will updating this analysis if it exceeds 40 likes.
BTC/USDT - Current Level Is KeyHello traders, I hope you're all having a wonderful Christmas.
Here we have BTC/USDT on the 12H chart.
BTC/USDT has been in a correction move since the long term uptrend. More recently price has bounced on a key horizontal support zone at 11980, and is now bouncing a second time at this level. Price could consolidate at this support.
As it stands, it appears that BTC/USDT is ready for an up move. Price is not only at a horizontal resistance, but is also at a point of Fibonacci key retracement support. And there is also a Fibonacci support confluence! This means that BTC/USDT is currently trading at a major support level. This in itself is no guarantee of a up move, but, it does tell us one thing. If BTC/USDT is able to break below such a strong support, what does this say about the trend integrity of Bitcoin? It could tell us BTC/USD is obviously quite weak.
I am expecting an up move eventually. It may well break below the current support and go to the lower support zone at 7550. But as mentioned above, if it breaks the current support zone it does say a lot about the true strength of Bitcoin as a whole.
I now think, a break below current support says not only a lot about price, but a lot about investors psychology and investors sentiment towards this Cryptocurrency. All bets are off for a long term uptrend if such a monumental level is broken, as it is basically an agreement that the uptrend will stay in place.
BTC/USD - Signs Of MomentumHello traders,
Here we have BTC/USD on the 4H chart.
BTC/USD has completed a correction move recently, and has since began rallying to the upside, which I predicted in my previous analysis and we have got the move (See my related ideas for details of this analysis)
After the upside pop, I have a slightly different perspective to my analysis. Since price broke to the upside, it has met a side-wards resistance at 14620. The candlesticks are showing strong upside momentum, and there is a good chance price has the strength to breakout. This isn't to say it is a guarantee of a new up trend, but is certainly reassuring after the big drop seen in Bitcoin recently.
I believe that price has found a true bottom, that BTC/USD will eventually break out to the upside, breaking the sideways resistance, and going back to it's upside again.
There is 2 ways this trade will play out, I have outlined these below:
-Price successfully breaks the side-wards resistance at 14620, and travels to the upside. This scenario would be much preferred if price successfully retests the side-wards resistance level as a new support. It would be even better if price successfully retests the resistance channel, and the horizontal support zone highs at 13150. If price confirms at both support levels, this will be a much more reliable up move if it retests both support levels, rather than just 1.
-Price stalls at the side-wards resistance level at 14620 and retests the horizontal support zone before eventually breaking the side-wards resistance at another time.
In my related ideas, I have posted my other recent Cryptocurrency ideas. I recommend taking a look so you can fully understand how I came to my new Cryptocurrency analysis.
I will be updating this analysis if it exceeds 40 likes.
BTC/USD - Bottom FoundHello traders,
Here we have BTC/USD on the 1H chart.
BTC/USD has had a correction move, after a long term upside rally, which I predicted in my previous analysis and we got the move (See my related ideas for details of this analysis)
After the correction, it appears BTC/USD is ready for a new up move. Since price has hit a strong structure support, there has been signals of downtrend slowing and reversal candlesticks showing bears are losing steam. The candlesticks are showing the beginnings of a change of command from bears to the bulls.
I believe that price has found a true bottom. If so, this can be a great launch pad to consider buying BTC. I am watching BTC/USD closely, and won't hesitate to make a buy if it sets up properly.
I am expecting an up move up to begin, to reach target of at least 18910. If price successfully breaks side-wards support at 18910, price could extend to it's extended target at 21330. I have achieved this target be calculating the long term bull impulse leg, and applying it at current price bottom, whilst assuming price has hit a true bottom.
Bare in mind, if price achieves the extension target, I believe this will be over a fair period of time. Price is still in jumble, and I expect the up move past the resistance structure to take some time.
In my related ideas, I have posted my other recent Cryptocurrency ideas. I recommend taking a look so you can fully understand how I came to my new Cryptocurrency analysis.
I will be updating this analysis if it exceeds 40 likes.
GBP/NZD - Sell OpportunityWhats up traders,
Here we have GBP/NZD on the 1H chart.
Price recently had a correct up move after an extended down trend, and has hit a historical support between 1.9200 and 1.9250. Since price hit this level, price been showing signals of weakness.
Prior to seeing price hit the horizontal resistance zone, price tested the sideways resistance channel. This was a sign of strong weakness. With this in mind, if price retested the horizontal resistance again, it would be a great short. This is exactly what has happened, and we tested the channel resistance, horizontal resistance, and also saw a double top set up.
I am expecting price to begin a down move away from the resistance zone, to a downside target at around 1.9050.
Due to the multiple resistance levels, the candlestick behavior at the resistance zone, and the resistance on the 200 moving average, this could be a strong down move.
I will update this analysis as it progresses.
BTC/USD - Further UpsideHello traders,
Here we have BTC/USD on the 1H chart.
BTC/USD had a correction move, after completing a bullish move up to the first target at 19380, which I predicted in my previous analysis and we got the move (See my related ideas for details of this analysis)
After the correction, it appears BTC/USD is ready for a new up move. After price hit a Fibonacci key retracement support level at 18910, price began to show reversal candlesticks. The candlesticks are showing a change of command from the bears to the bulls, and I believe the bulls have captured this move.
I am expecting an up move up to the upside target level of 21000. I achieved this target by calculating the previous bull impulse leg, and then replicating a measure move, thus having a target zone.
I will be updating this analysis if it exceeds 40 likes.