GMT/USDThi.
Keep an eye on this currency, because although it has made a profit of over 200%, it is still on the rise.
Still
GALA/USD Possible Buy Setup.This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
GOOGL, still another 30% to be had!GOOGL is a mature stock and tends to be very respectful of fibs, previously it was able to run up to the 5.618 fib of the 2009 crash (pretty much to the dollar) prior to the COVID crash. Assuming a similar outcome GOOGL still has room to run up to $3937 before a correction back to its current levels around the 3.618 fib.
BTC still in downtrendI believe that, while much has changed since the last big bull run and subsequent bearish period, BTC is still in a downtrend and I would not recommend going all in for a long ride up until the price reaches 2250 - with this in mind I am setting my take profits lower on long positions and only trading with margin in short positions - I am predicting that BTC will fall down to the 6500 level, consolidate, break down to the 4000 level, consolidate, and break down to the 2250 level (others have predicted a fall down to the 1000-level), consolidate, and then uptrend - I have been trading for many years but am still learning technical analysis (I know, it has taken me way too long :/) so I do apologize that my chart is not very complex; however, I wanted to warn new traders not to hope for a upwards breakout that will result in a trend-change on the 4-hour and daily charts - currently, BTC looks like a buy when looking at the shorter-time-frame charts such as the hourly, 30 minute, and 15 minute, and in fact, it very well may be a buy for a shorter-term long position; however, traders should be weary of a potential decline in BTC - additionally, BTC is traded globally and different regions have different news outlets and different regions act on news differently, I have found that, during the U.S. trading session, BTC is often pumped, while during the normal trading hours of other sessions around the globe, bears retake control - I hope someone benefits from this post, it is my first post - feel free to give me feedback
DOW Jones Industrials A Beautiful Old Lady Still
The Dow began its history with 12 constituents and grew over time to become the Dow 30 that we know today.
There's those numbers again.
The old lady is now 122 years old and still as beautiful as the day she was born. But beauty is in the eye of the beholder. Maybe she doesn't do it for you...
Dow Futures Update DJIA1!
This index had to stay above the 25702 line during yesterday's ongoing whipsaw through the open and beyond and if it managed to do this it meant a test of the next resistance line at 25782 would be the most likely outcome.
After rallying to within 10 points of the upside target at the open It then managed to hold up through a turbulent session with a subsequent low at 25713, before rallying away to the target and beyond.
As this is finished it's sitting just 4 points above yesterday's upside target line at 25782.
Support here may hold up but It can come back to 25759 when the market opens at lowest but must hold here to stay positive today.
To hold up in the 25782-25759 range through the open will again be very positive for this index up to the 26010-26055 range with lesser resistance at 25887 being the likeliest spot to expect profit taking /consolidation taking during the ascent.
If not long already can look to buy the dip with stops below 25750.
Dow Futures Closer
BTCUSD: Scope for further Near Term Upside within Bear FlagBitcoin
Continuation pattern forming after the failed break earlier.
Just a bear flag so far. 6710 first support and if it's going to
bounce it should be from the lower parallel of the nascent
pattern - but there's no real interest A worry for any brave
bulls at this point.
In very near term we may get a bit of buying into US open -
may regret it later but am not looking to follow it higher even
so at this point.
Looking to short again from higher up towards 6840-6860 if
the current rally lacks any volume as it rises orif 6700 gives
way first with a stop around 30 or so higher, which is risky, as
below, if we see it happen.
As yesterday, on the downside there are a series of closely
positioned support levels beginning at 6660, then 6518-6481
and last gasp support at 6428 - which must hold up today for
Bitcoin bulls to stand any chance from here.
This might make trading the break lower trickier than usual so
will need to take care if trading this part of the range.
But any failure to hold 6420 from this point today will likely
flip Bitcoin down to 5887 next. So 6425 is most likely the
point that swings and day traders are likely to start to short
more aggressively when broken with stops either quite tight
above, and no higher than 6620.
BTCUSD: Bitcoin - Clear and Still Present Danger BTCUSD Bitcoin
Must apologise for rubbish call yesterday and no follow up.
Was expecting a period of light relief over the weekend. No
such luck. The spike that came shortly after the match had
finished was a big one and the ensuing rejection period
flipped Bitcoin straight back down to the lows again and
triggered a short from 7399 as it broke below here.
If still short here can either close out again for 90 or so profit
but ready to short again on a break below 7200 - it may only
reach 7162 at first and try to rally back to 7200 but once this
is broken below it should decline in stages back to 6615-6517
range.
But in the nearer term Bitcoin is trying to rally again - it's still
thin and treacherous and still cannot trust this counter-rally
even though it can push higher again from here.
There's a good spike off the lows today so it looks like another
continuation pattern is forming now. But there is no upside
here worth contemplating so far except for brave day traders
who may wish to follow a break above 7350 on Bitfinex
looking for 7467 and maybe 7540 at likely best before it
comes off again.
Otherwise we have to wait - again - for that probable break
lower, when and if it eventually arrives.
Patience. A virtue. This is the lesson of 2108.
2017's watchword was HODL. 2018's is PATIENCE.
We have to learn it and adapt to change.
Not what anyone really wants to hear. But it's true nonetheless
BTCUSD: Bitcoin Still Struggling HereBitcoin Update
Finally, after two fake-ins as Bitcoin spiked above the upper dynamic of the triangle formation of yesterday and came back
to the lower rising dynamic of the triangle on the first occasion and then to the apex of the triangle on the second
occasion before finally reaching it's very modest updside target at 8450-8460 (high at 8483) before falling away again.
It was damned hard work yesterday. The staid steady hands of institutional players are slowly squeezing the life and soul out
of the party. But it still moves faster than pretty much anything else outside of the crypto markets for all that.
Overnight Bitcoin has formed yet another bear flag with two
strikes on the upside signifying 'cold', still with a big rejection spike off the upper parallel of the flag.
It's trying hard to stabilise and to attract enough buyers to spark a counter-rally but cannot get far unless the upper
parallel of the little channel formed since the overnight high was reached can be broken above. Only then can a buy be
considered looking for a counter-rally to 8430 and potentially a spike to the 8481 line again at best before it falls away
again. That's best case scenario right now.
The overall pattern is still bearish and eventually this is still likely to fall away in stages to 7817-7760 range and lower still.
But institutions are playing this like a big marlin on a line, letting it out some and playing it until it tires and then reeling
it back in again. When they let it run to the upside be careful with longs - it can't run far before they reel it back in again.
So really we need to be looking for shorting opportunities and any longs need treating as scalps at best for now.
On the downside we need to see a break below 8200 today to trigger the next short back to 8114-8100 range initially. Any
break below 8100 will tip it back into bear hands again and it should fall to 7946 to begin with and then to 7818-7760.
Below here the next significant support lies at 7584 and then
a bigger drop to 6955.
EURUSD Still Trapped in a Relentless Down-Trend - target 1.17218th May EURUSD Update
EUR made the counter-rally move back to the upper parallel
precisely at 1.1978 before falling away again. Having failed to
hold up at the 1.1910 level it is falling further as DXY
continues its long-predicted rally. EUR should fall to 1.1815
and then bounce to the upper parallel again before falling
away further still to 1.1721 as the month progresses.
Any bounce back to the upper parallel can be still be viewed
as another selling opportunity until the down-side target is
achieved. Whilst EUR remains trapped within this clearly
defined down-trend this pair remains a one way bet.
The trend has to get broken at some point though - only then
do we switch back to long again on this pair.
Just not yet awhile.
ETHUSD Still Beating Bitcoin - Even on a Down DayETHUSD Still Outperforming Bitcoin
ETH rallied just under 100% from the resurrection day lows at
360 to high at 713. In that time Bitcoin rallied 50% or so.
Today Bitcoin is down 3.7% at moment and Eth is down 2.9%.
That's impressive price action by ETH for sure. So far at least.
It should be double that decline but it's less than like-for-like.
Whatever the current ratio, it still moves with Bitcoin - which
has hold up at 8800 for ETH to stay overall positive too.
At the moment despite losing the lower parallel and tripping
over its edge Eth is holding up off the first support line at 625
- it's ralled from just above the line towards the underside of
the parallel and been rejected. But it looks unlikley to break
lower still unless Bitcoin in turn breaks below 8800. And if so,
Eth would be likely to fall to 576 and the lower parallel of a
potential flag in the early stages of formation where it
becomes a buy again if tested with stops below by 5 points or
so.
Returning to the upside any break above the upper parallel of
the nascent flag formation at 693 now would be very bullish
and signal further nearer term strength to 869- 89.
Eth is still outperforming though, as today's price action confirms.
DXY: Dollar Index Update - Still Bullish to 94DXY Dollar Index Update
After consolidating back to the lower parallel at 91.49 the
Dollar has pushed higher towards the near term upside target
at 92-55-92.64 range where it should consolidate again back
to the lower parallel one last time before moving higher to
the next upside target at 94.03.
The overall trend remains positive whilst DXY stays within
the larger parallels governing this impulse wave from
inception. Look to continue to sell EURUSD (as per comment)
and other pairs into DXY consolidation until the 94 target is
achieved.
Bitcoin: BTCUSD Grinding Higher within the ParallelsBitcoin BTCUSD Thursday Morning
Stopped out of the long for 9 point loss overnight at 8172.
Bitcoin is now trading at 8171 after a high at 8282 on Bitstamp.
It's left quite a big rejection spike off the upper rising parallel
of the continuation pattern it's been hammering out since
yesterday's lows - it's just breaking the first litttle dynamic
here as this is written and should find support off the lower
parallel and try to rally again from here.
It is doing, leaving a spike under price now as well as above.
Which signals indecision and range trading inside the rising
parallels for now.
The spikes are making it difficult to trade at this point - but
it's grinding slowly higher and is still positive above 8160 and
more likely to push higher still to grind down the bears - but
it's a battle with sellers likely to appear again between the
8213 line and the line above it and buyers at 8170-60, causing
whippy trading conditions.
But the near term bias is still up towards the upper parallel
and eventually to the 8418 line.
Downside from Here
It has to break below the small rising central parallel to
trigger another decline 90 point decline to 8074-8058 and the
lower rising parallel where it should bounce again. We then
need to see a break below the 8058 line to short again back to
7820-7800. A break below 7750 would in turn trigger another
short to 7562.
Bitcoin: BTCUSD Grinding Higher - But Raise Stops
Bitcoin: BTCUST
Last Update 01:20gmt/20:20est
Bitcoin is continuing to grind higher, still contrained by the
parallel above it.It's double topping in the near term - has to
find buyers enough to push above the high at 11490 on
Coinbase feed but will likely still get rejected by the parallel
above it even it can push higher now - but grinding upwards
towards 11765 completion target perhaps sometime around
14:30 est tomorrow. A small speed line is forming under the
lows of this break so far and bulls will be looking for it to hold
firm to avoid the risk of Bitcoin topping out in near term and
moving into a dull energy sapping sideways to downwards
movement due to lack of follow through come far east opening.
So It's Ok for swings to stay long for now in hope of 11765
later but consider raising stops to under the little dynamic by
50 points or so to trap in 300 plus points profit for the day
even it does wrong from here.
It's been hard work all day. It would be a shame not to let it
run, but also a shame to risk it slipping away. These choices
are ultimately down to profile, as usual. Any move and hold
above 11765 (could only be due to far East volume buying)
would be extremely bullish - but unlikely in the near term.
Nevertheless if wrong and we see it happen at any point over
the next 24 hours we follow long once more.
NEOUSD: Still Positive - Next Buy Point ApproachingNEOUSD Still Positive - Next Buy Point Approaching
The minimum upside target created by the RHS is 173 but it's
taking its time to get there. Looks to be in process of
completing another continuation pattern before firing higher
again soon. Once it passes 128 and holds there it should
advance to 148/150 where the upper dynamic will most likely
reject it again on the next touch. But WD Gann tells us that 4
touches should be the maximum and on the 5th attempt it
should push through the dynamic and complete to the target
at 169-173 range. Can therefore split trade into two parts,
from 128 to 148-150 and then from 151 to to 169-173 - or
can buy and hold depending on trading profile.
Support lies at 121.5 and whilst above here Neo is positive.
Stops for longs just under 120.
Bitcoin BTCUSD Still Positive Today: Next Buy PointsBitcoin BTCUSD Saturday Update/Buy Points
After another 15 hour period of dreary consolidation lasting
through the European session and right through the US session
to the close Bitcoin finally bottomed right on the low point
forecast for the day before the rally we spent all day waiting
for finally kicked in. Patience was finally rewarded as Bitcoin
began to push higher again into the far East session, rallying
to an overnight high at 11419 before the customary 06/01est
sell off. Later today it should push higher still to test 11790.
In the meantime though, it can spend quite some time moving
sideways once more, using the 11192 line here on Bitfinex as
support as it does so - and can come back to the parallel
underneath it at lowest to stay good from here today for the
rally to 11790. This process may be mercifully short - but it
could also last several hours as it did yesterday. We need to
be prepared for both. Look to enter long if not already from
11192 -11050 range (with stops under 11000) or can add/enter
long again once 11430 has been broken above for rally to
11790 where we will look to close out and maybe reverse
short if touched later on - depending on price action when we
reach the upside target. More as this move develops.
Whilst Bitcoin remains within the parallels guiding this rally it
remains overall positive.
Bitcoin BTCUSD Still Positive - Continue to Buy DipsBitcoin Friday Update Next Buy Point Today
Bitcoin duly broke higher from 10600 and we followed that
break. Overnight Bitcoin has made a high at 11189, climbing
three rungs higher on this particular ladder to reach 3 points
below the the next line of resistance at 11192. Day traders
are closing out here and looking to get long again from lower
down towards the 10888 line and potentially as low as 10681
if 10888 cannot hold up this morning. But Bitcoin must hold up
at 10681 at lowest today for the bulls to remain in overall
control from here. A break (not spike) below this level will tip
Bitcoin into a near term negative pattern and day traders will
to short more aggressively if this were to happen.
But so far the overall pattern is still bullish. If still long from
10600 break higher yesterday can stay long but raise stop to
under 10870 and if struck look to buy again around 10681 with
stops 50 or so lower.
Look to add once 11192-11200 range has been broken above
looking for completion of this rally to the target at 11790.
Close out just below here and some day traders may consider
reversing from this point if touched later, depending on how
it behaves when it gets there. More as the move develops.
* For updates in real-time plase check top left of main page
Yesterday:
Bitcoin Coinbase Chart Next Buy Point
Bitcoin has spent the last 24 hours or so hammering out a
continuation pattern not too far from the recent highs. It
hasn't collapsed from here, though, which has to be a positive
signal, so far. It's now probing the upper parallel at 10600 and
trying to break higher. To stay positive from here it has to
make this break. If we see it we can follow with stops under
the upper parallel by 50 points or so when broken. Otherwise,
in absence of a break higher and Bitcoin spends more time in
this consolidation pattern we will look for an entry from lower
down later
DXY Dollar Index Still A Buy Dollar Dips MarketDXY Update 29th February 10:00 est
Still a buy dollar dips v EUR and XAU market back to the
central parallel of the current run - looking for 91.00 in near
term and then, once this level is broken and held, on up to
91.78 and into the longer term falling resistance line - around
March 6th on this chart. Look to take profits at this point and
consider reversing short if we get a good rejection from
the dynamic when touched next week.
26th February 07:00 est Ahead of the curve
Potential bull Flag forming - follow break higher if we see it -
buying dips (on pairs) back to the upper parallel on DXY chart
once broken to upside.
26th February 09:30 est Update
DXY On the cusp of the flag but going to come off and trade
down the upper two parallels awhile before breaking higher
still...buy dips/add on breakout
27th February Update
DXY leads the way and leads the day. Pairs follow
Just hit resistance after flying too high too fast - but it's a
buy dollar dips market, still
*If you prefer to stay ahead of the dollar's curves you may be
interested to know that in over 2 years of calling the dollar
on Tradingview 91% of all calls have been accurate. This claim
can be verified by typing in DXY to sumastardon page and
doing 20 minutes due dilligence.
Bitcoin BTCUSD Still Long, Still StrongBitcoin BTCUSD Still Long, Still Strong
So, for the first time in a while no selling pressure into 01:00est/06:00gmt. Was looking for a test of the upper parallel on Bitstamp which was scheduled for overnight or into today at 10900 and which still looks on the cards so far for later - once agin the direction of the callis OK but the stop left something to be desired - wanted it under 10400 as it could come back to 10200 - and in the event it came down as low as 10146 in the first hour of far East opening around 02:00 gmt. So again, without using a 50 point wider stop than the stated level a good call turned useless. Ironically if following the Tv updates you'd be long and strong. Just hope you guys are anyway but another graphic example of a head shot that kills the guy standing next to the target. You have to calibrate your own rifle to compensate for this. The rifle is quite good. It's the sights need calibrating .
Anyway, a buy burst at 07:45 has won the patient another 300 to 400 points so far today - Bitcoin is now perched on the blue line at 10666 and unwinding the burst higher - has to hold up here to avoid going into a bigger and longer lasting continuation pattern, falling back to 10522 line and potentially back to the newly forming dynamic underpinning the rally so far from the secondary low at 9373.
It's another buy if we see this later.
Looks to be more updise still, to 10886 line and into the upper parallel on Bitstamp feed 10980 where it's likely to encounter problems again.
Last night was suggesting we short from the upper parallel when/if touched today...let's see how it behaves when it gets there first..
Some people are having problems finding the correct link to fastest updates - it's been updated - please check top-left of main page if an active trader and you prefer all updates asap.
Yesterday's Updates 12:18est Update
The Deep
A failed break but the sharks can't get their teeth into much
whilst the bait-ball is saying within the safety of the parallels
- and when it pokes above the upper parallel will return to
the deep and leave the ball in tact to rise higher - the sharks
will return though if they see the ball forced down below
10098 - and then the whales who are slower to reach the
commotion - and try to eat every last sardine in the ball
Life in the ocean is much the same as trading Bitcoin
sometimes.
19:05gmt/14:05est
Bitcoin is trying to break the upper parallel now and is a buy
once 10235 is broken above on the next dip with stops about
120 lower - need to see some green now to know the break is
good
Bitcoin BTCUSD Still Positive - Can Buy This DipBitcoin Bitfinex Chart Update 10:37gmt/05:37est
Still Positive - Buy the Current Dip
The big rising dynamic on Bitfinex was the best/most reliable
of the 3 feeds we cover overnight and the early morning 7am
gmt break out of the consolidation pattern was very precise
and right down at the lower levels...so this is still giving good
signals and will therefore be covering all 3 feeds again.
Looking to stay long up to 11438 on this feed and close out
there/just under if touched later. Day traders are likely to
close out at 11240 when touched and in the meantime it can
come back to 10860-10840 where it's likely to get bought
again. More support building at 10627 line and off the big
rising parallel below here. Whilst Bitcoin holds above this
dynamic on the Bitfinex chart the overall technical picture
remains positive. Bitcoin only flips back to negative if this line
is lost at any point from here. Stops for swing longs can
therefore be placed below the dynamic by 100 points or so.
Bitcoin: BTCUSD Still Positive: Next Buy Points TodayLatest Update 11:00est:
Bitcoin is still positive and a near term buy on retests of the
smaller dynamic underpinning the day's rally towards the blue
support line at 9960-9940 with stops below 9900.
Also raising the stop here to just under 9900 on current longs
on Bitfinex to trap in 100 + points if it gets struck (day
trading). The other choice for swing traders is to leave the
stop just under 9800 for break even from here. The overall
trend will remain positive whilst Bitcoin remains above the
larger rising dynamic it bounced from earlier and that we
used for this original long entry.
Last Tv Update, yesterday:
If it loses the main dynamic it will unravel a little but looks
unlikely to break below 9496-9450 levels if it does - there
should be a lot more upside from here though.
How you prefer to trade it up to you. But for the forseeable
future this is a buy dips market. That only changes if the
lower larger dynamic gives way at any point from here.
1st Update today 05:05 est
Some swing traders will still be running the long and using the
bigger dynamic as a final exit (as per Tv updates). If so stay
with it. If not and looking for the next long from here, we
have a chance of a trade from here at 9740-9700 if using a
stop below the dynamic which is at 9700 now for smallish loss
if wrong here - otherwise we need to see the upper parallel
broken on the next rally to follow long again, with stops
below the dynamic, under 9700. So long as Bitcoin holds up
off the largest upper rising dynamic that it is closest to now
(at 9700 now) the trend will remain positive and swing traders
can stay long. And if this line gets broken at any point today
the 9496-9450 range must hold up to all challenges from here
to stay bullish overall.
Update 09:31est today
Can raise the stop on this long to just under 9800 for small
win/break even from here. Some traders are happy with 200
points per day so that over 5 days they make 1000 or so. All
depends on profile - some are big game hunters and swing
traders and some are shorter term scalpers. There is no right
way, just the way that suits your temperament and time
available best - it takes every type to make a market...
Bitcoin: BTCUSD Trend Positive - Next Buy Points this WeekendBitcoin BTCUSD Weekend Next Buy Points
An excellent 1300 or 16% rally on Coinbase with an early break-out at 6.30 gmt at 7950 level yesterday (compared to
Bitfinex) has taken Bitcoin to the 9061 line overnight before topping out 24 hours later (at 6.30gmt this morning) as profit
takers moved in. The lower parallel was broken soon after at 8885 and all longs stopped out at around that point - for 935
points profit from trigger-in to trigger-out. Just so long as Bitcoin keeps moving we can scalp her both ways too...Some
will be getting the hang of this better than others and some are psychologically OK with shorting and some are not. If we
can view Bitcoin dispassionately (as a surgeon views a body on an operating table, for example, and not as something we
love - or hate) - we can make points both sides of the argument. So you all know by now how Bitcoin behaves and
most don't even need any help with it any more (excellent) - as it breaks out of the parallels it loses buying interest (the
world and his dog have seen the same patterns develop too). Sometimes the break is clean and fast, as this morning, and
sometimes the break down is followed by what appears to be, at first at least, a failed break, as Bitcoin then tries to rally
again back up the underside of the parallel it has just lost...it can even double top or reach just below the previous
high...and then falls away again as it should. The exact opposite of a failed break upwards when price breaks the
parallel to the updside and then fails to push much higher to begin with, forcing price back down the parallel it's just broken
above, often as low as the last low at lowest, before it starts to rally as it should when it leaves a continuation pattern. The
exact opposite. Just studying breaks (up and down) and their nature will earn you many fortunes over a life-time. The
exact same principles apply whether trading Bitcoin (super fast) or the Dollar (super slow), or any stock on the market.
So now Bitcoin has busted the lower parallel and triggered a short with stops above the lower rising parallel if so minded.
Can stay short until the dynamic holding down price is broken to upside. Those looking for the next long from here need to
see this same dynamic broken to upside too - it must hold up on any retest or it will fall away again back towards the lows it
has just finished making before it rallies again (as explained in reverse for a break lower). So try to use a stop and
always watch the break (up or down) carefully...is there an increase in volume apparent, if not it could fail so be ready to
cut and wait for next signal if you see this - do not start waiting and hoping the chart is wrong and your heart is right.
Follow the chart and not your heart and you will learn to trade like a hardened Wall St professional. But without having
to leave your house.
Nasdaq 100: NAS100 Still Positive From Here - Next Buy PointsNasdaq 100 Index Update
The minimum upside target at 6694 was met and the next, at
'6787 at best before it falls away again' fell 12 points short
with the high of the day at 6675.
Since then Nasdaq has fallen away in a little continuation
pattern that signals further upside in store. It's just exiting
the pattern and can be bought again with stops below 6560.
Or can wait for stronger confirmation once 6614 and the
dynamic above it has been broken above and held on retest.
Should then rally to 6673-6694 range and then once this this
range is passed - after a period of consolidation here - should
rally to 6787-6800 and then back to the highs.
Nasdaq only turns negative again if the lower parallel
supporting price gives way at any point form here.
