LTC Change in MSLTC long time going down, moving sideways and starting to change in market structure.
see 2 wicks to the left and then finally big bearish engulfing that pushed through, looking for;
A bullish engulfing to push through
2 closes above the EQ line
Limit Entry and SL set.
Tafriday
ETHM20 Bitmex RetracementConsolidation then drop to previous resitance.
Fibs from High to Low
Looking for entry on the previous supports for a short
ETHUSD Short MBA TA FridayLooking for shorts from FIBS
First run pulled back to the 236
and then pusshed to the over extension of 618.
Second run has had a pull back that pierced the 618, unliely to continure to push high,
Entry on the 236 for a swing back down to 618.
If trade drops before my entry then I will remove the order
LTCM20 - Downward wedge forming - few long optionsDownward Wedge has been forming on LTC, It is also approaching a low demand zone
Options 1 & 2 looking for break and retest.
Two possible entry points, either around 5790 mark on the retest from the break out,
otherwise wait for 5890 resistance to break for the 2nd entry.
Option 3
Limit order set at top of demand block for a longer term long to previous high.
Trade will be managed with several TP's (5890, 6047, 6180) as it progresses.
Trade option 1 expected to play out within a day or so option 2 within 2 days from entry,
trade 3 possibly upto a week.
#mba #schoolofsparta #mbatradingacademy #sos #tafriday
LINKBTC - Short term long 1hr TFRetraced to 61.8 and closed above,
Currently broken out of down trend
next resistance is at 0.00034128 which is just above where i'd enter. so placing a buy stop a bit above resistance
1 Take profit at 0.00036344,
Last TP is a trailing TP following at -1% to catch any lucky dip pumps.
RR for the trade is 2.0 expect the trade to play out by tonight, mid morning tomorrow at the latest
Watching to see if Elliots waves starts to play out as well, may lead to further potential trades
AMD Review- Broke first trend line. Now in descending wedge pattern. Candle closed below support at 61.8% FIBS level, current candle pulled back but hasn't closed yet.
- If 61.8% support does not hold, the descending wedge will continue to 78.6% FIBS support (first red circle). This area will see price action (break up or down) from descending wedge. Area also coincides with earlier trend line. Would be a good entry if we weren't having a pandemic. If it holds, wait for multiple bounces off of the trend line and signs of reversal before placing buy orders. A break and close above 61.8% resistance would be a good indicator.
- Break and close below 78.6% FIBS support and trend line would signal a 100% retrace. Wouldn't be a crazy thing to happen given the current state of the market. Possible entry position off of the 100% retrace support line. Same rules apply as entry positions off 78.6%. Wait for multiple bounces off trend line and support. Could be very dependant on how this virus plays out.
- If 100% retrace support and trend line don't hold then it will likely fall to "Pandemic support". This is a strong support with multiple bounces and coincides with a long-term trend line. Depending on the timing (how long Corona hangs around for) this would be a very attractive entry point for investors. Again, wait for reversal patterns (big candle wicks to the downside, double bottom, inverse head and shoulders, etc.) before entering trade. Unless you're feeling frisky.
LINKBTC - Long Trade (Assuming BTC behaves for a while)Link has respected the daily uptrend, broke through the downtrend with a bullish engulfing.
Large target given the volatility of btc lately.
Deemed a higher risk trade so only 0.5% of acc risk.
I Will have a trailing stop set up after each Take profit hit.
Last TP make also be set as a trailing TP depending how trade goes
DGDBTC - Long trade 4hr timeframeLong trade within the trend, based on my previous TA about the cup and handle, Going with the philosophy "its right until its not"
Hit the previous demand block and also stayed above daily support, long to upper trend line with TP's along the way.
Link USD Tripple top and short opportunityLinkUSD pair has formed a tripple top, with multiple points of support and resistance converging. Should there be a break in the swing low, significant downside might be expected.
BNBBTC - TA Fridays 06/03/2020Ascending triangle into this resistance zone. If we have some solid bullish candles closing above this zone, look to enter long (if the triangle breaks, start looking for potential shorts instead).
Stop loss should be below the zone in case we have a little pullback/wicks to the downside.
First take profit is at daily resistance (2460), then next target is previous high (2570).
I would exit this trade early if the purple trendline broke with bearish candles (crossing below the 30EMA would be even more confirmation to get out).
This may take a day or two to present solid entry opportunities, and the trade itself could take 3-4 days to hit my first target.
