ETHUSD Perspective And Levels: Stability And Trigger.ETHUSD Update: Stability forming now that two higher lows are in place at the 267 and 276 levels. This allows for a clear definition of risk and a scenario that can lead to a new long position.
At the 267 level there is a bounce that retraces back to 276. This formation is a broad higher low which indicates strength returning to this market. The bearish momentum has failed to push new lows. Plus there is a smaller higher low at the 287 level which signals further stability because higher lows often lead to? Higher highs. Two formations like these within the 296 support level which I have been writing about for a few reports now, are the signs of stability I have been patiently waiting for.
If you observe the ETHBTC market which has been a great source for additional clues, it also has a clear higher low formation in place which adds to the stability argument even more.
What is most important about these structures besides where they appearing is that fact that the market has offered clear reference points to define risk from: The 267, 276 and 287 lows. With this information I can determine if a long swing trade is worth taking. The next question is where is the entry and the target?
A break above 310 is a new long signal because that indicates bullish momentum returning. A long position at 310 with a stop in the mid 280s and a target in the mid 340s offers just over 1:1 reward/risk (and that is being extremely conservative). If there is any positive catalyst along the way, that can push prices further, but for now I am going to use the 350 area as the initial target. The beauty of this kind of trigger is if price never breaks 310, then that means bullish momentum is still limited and there is no trade and no risk taken.
IF instead price decides to break below the key support levels relative to these higher low structures, like 287 or 276, then that would signal bearish momentum is still present and I would wait and see where the market stabilizes again before any further evaluation. Also a break below the 267 low will negate the possibilities of the present stability completely, and open the door to the 230 support zone. This is why it is very important not to take a position too early and wait for a trigger. (Unless you enjoy pain).
Another point I want to make is this: my previous reports have been bearish, and now this one is much more bullish. I do not base my observations on feelings, or my opinion, or what anyone says or writes. I base my outlook on what clues the MARKET provides and I am flexible enough to recognize new information while not getting stuck on ANY opinions. The market doesn't care what I think. So I don't, I "listen" instead.
In summary, this is the kind of price action that my plan forces me to WAIT for before taking a new position after a sell off. It is very challenging because it requires a ton of patience to wait for (it has been a number of days). The only way to achieve this kind of patience is with a well defined plan, and not getting sucked in by the hype, the price noise and your own impulses, fears, and bias. If the context of these market conditions were more bullish, (like they used to be) then the entry criteria would be less restrictive so this is why context is so important for the analytical elements that I employ.
Comments and questions welcome.
Strength
Which way ETHUSD will choice?ETH is going to choice its way between #1, #2, #3 and #4 in its up trend. 388$ is working as strong strength point. In my opinion it will choice #3. Because indicators already become balloon they must become normal levels before healthy go up. No need open position until see test of support lines or before broken 388$ strength.
Lisk Showing A Completed Correction; More Upside In ViewLisk made a three wave pullback into blue wave (4) correction and later found some support at the region of the former wave four at 0.00079674 level. We know former corrections can usually act as turning points and in our case as a support. That said current rally can now be start of a new impulsive leg higher, with price currently trading at the beginning of sub-wave 3. That said more gains can follow on the cryptocurrency.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
$V continuation pattern breakouthigher time is in strong uptrend and showing strength
intermediate time frame also in uptrend and rising moving averages with the shorter time moving average slightly flattening showing consolidation with price trading around it
price is seen here forming a resistance at the 96.16-96.17 area with the three price rejection candles
forming a ascending triangle possibly looking for more retests of the resistance and higher lows to show buyers conviction
this is mostly a monitoring situation not a play yet
on the lower time frame- it is showing a bullish rectangle pattern- longer it stays in the range more energy will be built for the possible breakout move
just have to watch what price does in the upcoming couple days
measured move is a .33 move if broken out of resistance which will bring price to 96.50 area and extension level .618 at the 97.1x area
AUDJPY - Easy Money LongThis trade has taken forever to develop. The Hekin Ashi Candles suggest a completed retracement pattern, while the price action has finished a breakthrough and retest of an important price level. These factors, combined with the appropriate RSI - primed for a breakout - are all positive signs. The confluence of 3 important factors, plus the overall strength of Gold and the AUD, give me reason to believe that this pair will be moving much higher very soon.
Trade Safe.
AW
AUDCAD - Easy Money ShortThis trade right here is a textbook short. The price level just bounced with decent rejection off of a long term, important price level, and with the weak attempt strength, its doubtful that this trade will be going higher than lower in the next week. I'm shorting to .98104, although I may get out sooner if I sense price turning around quicker than expected.
AUDNZD - PUT THIS ON YOUR WATCHLIST RIGHT NOWThis trade may be turning up faster than anticipated. My original prediction stated that it would probably fall and retest its trend line break, but it seems that this pair may just be headed upward without it. Watch this one! If I see a candle pattern I like I will go long and update this post.
EURAUD - EASY MONEYHey guys! So this is a quick counter trend trade off of the support up into the trendline. The candles are encouraging, and if the current candle finishes somewhat it looks like now, then I will be going long. I will update with Entry Levels!
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EURAUD - Easy BounceIf this candle finishes with a strong bullish body, then I will be climbing in to ride a short bounce up. It looks slightly oversold, and the possibility of a bounce is high IMO. I will be updating with entry if I end up going long.
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AUDNZD - WATCH THIS Potential BreakoutI expect this trade to break down, and then back up. The pair has just bounced off of a resistance, as well as passing through a months-long trend line with conviction. Depending on what happens, I will most likely be buying this once it moves closer to testing its new supports.
Bitcoin - Super Breakout - Next Target $880 USD - Measure RuleThe time has finally come! I have been waiting for a near vertically rally, and likely so have you!
Our patience has been rewarded with a strong breakout! Using the measure rule I give a new PT of $880 USD...
Momentum has been huge, since June it is the third strongest, the second being in August....
Good luck and soon we will be in the four digit range --- I don't know about you but I won't be looking back anytime soon!
Pink verticals are the same length, duh!
GBP/USD: SHORT TERM ANALYSISWe are currently in a bearish channel as you can see the trend had given off corrective wave patterns to perform downwards movement out of the waves previous structure, whereas the trend is now retracing possibly towards recurring previous structure levels. I suspect the trend to create another lower low in order to test below structure levels and to maintain the channels strength.
How to Infer Currency Strength Without ANY IndicatorsToday I received a question regarding what indicators or websites to use to infer and compare the strength between related currencies. I responded with a long winded explanation as to why it is not necessary to use indicators or websites to infer such information because it can be realized solely through price action. If we look at the daily range today on GBPUSD, EURUSD, and EURGBP which resulted from the huge miss on the NFP numbers, we can gauge the strength between the EUR and the GBP versus the dollar as well as the EUR vs the GBP.
In looking at the daily ranges of these pairs we will first notice that they all had a strong move to the upside. This of course being due to the weakness and downside movement on the dollar ultimately resulting form the miss on the NFP number. Therefore right off the bat we can infer that foreign leading currency pairs should be strong against the dollar today and we can expect to see pairs like the GBPUSD and EURUSD moving to the upside. That is exactly what we see here... price moved as expected.
Now... what if you want to compare the relative strength of the GBP vs the EUR as it relates to the dollar weakness. Well then we will need to bring the cross pair EURGBP into the picture. The EURGBP cross pair will tell you how strong the EUR is vs the GBP. We see that the daily range of the EURGBP cross pair is roughly 90 pips and as of right now this pair has held that range indicating the EUR strength that we see clearly on the EURUSD. The daily range of the EURUSD is roughly 215 pips and it too has held this range indicating its strength. Since most of the day's trading is done for being that it is a Friday we can expect to see these prices hold through to the close of the day.
So we have concluded now that the EUR is for sure strong right now against the dollar and we are thinking since EURGBP is so strong as well that this rally in the GBPUSD might be misleading and the GBP might not be all that strong right now. By looking at the GBPUSD we can see that it's daily range was roughly 160 pips but as of right now it has already give up roughly 1/3 of that range and price is showing signs of continued downside movement. Seeing this we can conclude that the EUR is certainly stronger than the GBP right now and going into next week if we continue to see upside movement on EURUSD and EURGBP we can expect to see downside movement on GBPUSD.
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GBP/USD Possible Bullish Inverse Head & Shoulders FormationLooks like the Bulls are out to play. A push above the neckline suggests an 840+ pip Bull run. I expect to see more strength in the Pound against the USD and NZD in particular but markets are very shaky right now.
Keep in mind while FX:GBPUSD and FX:GBPNZD look bullish, FX:GBPCAD and FX:GBPAUD look much more bearish from a long-term perspective.
Is AUD/CAD in a Long-term Bullish Channel?Is that a rhetorical question? ;)
Even if price retraces to the downside in the near term, I am a Bull over the long-term plus it looks like a bullish Inverse H&S formation which are extremely powerful and reliable even before breaking the neckline as you can clearly see the increasing momentum.
If you trade the Kiwi/CAD then for the long-term look for the exact opposite .
AUD/CAD is what I like to call an SVP {a Super Valuable Pair} because each pip is worth a lot not to mention the Overnight Swap Rates are positive for Long positions so make sure to Buy dips! I like to classify my favorite pairs as either an HVP {High Value Pair}, an EVP {Extremely Valuable Pair} or an SVP {Super Valuable Pair} based on a variety of factors and situations which can and do change due to the dynamic nature of the current market conditions.
Upside targets will be added in and updated when I get some more free time, maybe this weekend.
Low price stock candidate - Chosen by our whole brain processOn a daily chart: It is above 5 MA and 20 MA, it is above the William´s % R, above the CCI , the daily candlestick is positive, it has an increasing volume , it is a growth industry (semiconductors), it is above the cloud, above the 50 and 20 MA, it is above the 8 EMA , the RSI that I set to 2 is above the 80 level, the MACD crossed and the PVT is positive.
News:
us.rd.yahoo.com
The bollinger bands have narrowed and beginning to widen.
On a weekly: It is above the cloud.
These type of ideas are mentioned in our book Pennies to Thousands, a whole brain process of picking stocks with left brain indicators and right brain intuition. This book can be picked up for the same cost as a commission on a stock and can be purchased on Amazon or other bookstores. You can also watch our Youtube videos which have different videos on right and left brain activities to choose stock candidates. SUBSCRIBE TO OUR CHANNEL: Pennies to Thousands.
EUR/USD Targeting ResistanceTargeting resistance at 1.1387.
• EUR/USD keeps on pushing higher. Daily
resistance lies at 1.1387 (20/11/2015 high). Hourly
support may be found at 1.0711 (05/01/2016
low). Yet, expected to show further increase.
• In the longer term, the technical structure
favors a bearish bias as long as resistance
holds. Key resistance is located region at 1.1453
(range high) and 1.1640 (11/11/2005 low) is likely
to cap any price appreciation. The current
technical deterioration favors a gradual
decline towards the support at 1.0504 (21/03/2003 Low).
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AUDUSD DAILY COULD GO EITHER WAY KEEP AN EYE ON ITHowdy,
This could go either way so worth keeping an eye on this pair as today's candle has not finished yet
We have as you can see resistance but that could break through and retest as new support to go higher or create a new lower low.
As always any feedback welcome good or bad.....still learning before I go LIVE