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BTCUSDT Long Idea with Take ProfitsI have placed this long on Binance Futures - On the 4hr/Daily timeline, one can draw a downwards channel that Bitcoin has been ranging in for the last 4 weeks. Past week it's been in the upper half, and the 2nd to last 4hour candle had a big bounce off the bottom region to close on the median line. To me, that implied strong bullish momentum, albeit it still closed as a bearish candle. It was followed by a bullish candle, not as powerful as the first, but still with an average amount of volume for the past 20 4hr candles. This could easily turn down and continue further to 37700, hence I only risked 1% instead of my usual 2-3%, but seeing as the fall down from the upper region of the channel down to the middle stemmed from big news and extended by liquidations of futures and other derivatives, I believe that people will be buying up this discounted BTC in the coming couple days. Hence, the long TP 4. TPs 1 and 2 - indicated by the purple lines - stem from my bias towards the upside in the short run. Even if the overall trajectory is down, I feel the short-run (couple days) is upwards. The Adam and Eve pattern on the 15 min is a bullish sign, the neck of which we broke with strong bullish candles. TP 1 and 2 are at basic resistance zones, with TP2 being just below the technical target for the Adam and Eve pattern. TP2 is also just before the 50% retracement of the Fib taken from 19th September (before the massive drop) to the trough from 12 hours ago. Another sign we could reach TP2 in the short run without too many problems from the technical perspective. With TP2 being touched, that would take out a total of 75% of my position; only 25% will be left to ride out to my TP3 and 4, or hit a SL that I will move to break even when price hits TP1, or to TP1 when it hits TP2.
Long
by afatuliaj
21/09/20 - Gold (XAUUSD) Still holding my longs - by RT_Trading_Hi Traders, As you can see, gold has found its way back to my entry. I honestly did not expect such a deep correction of the inner wave 2. However, that does not mean that a 90% correction of wave 2 is not possible. As we have not made a new low, I am confident that we will hit new highs above the 1767 level in the coming week. Why am I sticking to my bullish count? 1. The Double-Zig-Zag WXY consists of three waves each. 2. Wave Y corresponds to an 1.618 extension. From this point on, sell orders were triggered. C can extend a maximum of 1,618. 3. Wave 5 of C corresponds to an extension of 2,618. All of these points only let me infer the bullish count. I think Monday should tell us whether I'm right or not. If my SL will be hit, my count is due anyway and we are definitely in wave 4 or already in wave 5 of C, which would invalidate my analysis. If this is the case , I will provide you with a new analysis that will reflect the optimal entry point for wave 1. I wish you all the best for the coming week. If you have any questions, feel free to write us a DM. We are happy to answer them. This is not financial advice. RL from RT_Trading
OANDA:XAUUSDLong
by RT_Trading_
EUR/USD:UPDATE SHORT POSITION|BEARISH SHARK PATTERN| FALL ⚡️Just an update of yesterday's idea Welcome back Traders, Investors, and Community! Check the Links on BIO and If you LIKE this analysis, Please support our Idea by hitting the LIKE 👍 button Traders, if you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Feel free to request any pair/instrument analysis or ask any questions in the comment section below. Have a Good Day Trading !
Short
by FOREXN1
1
What the good price to buy 1inch?I used Fibonacci Retracement to find a good buy if the triangle broke up. Hope we will have reaction on price. Good buy is the backrest of 0.5 zone with the daily support 4.4858$ Target is the last peaks 5.8227$ If you like adventure so you can buy now and set SL when candles closed below 3.618$ (This is the strong daily support) Anything that doesn't make sense, please give me a comment. Please motivate me to develop myself and help someone needed. Don't forget click like, it's a hug for me. Thanks you!
Long
by BMynameX
Everyone NEEDS to see this fib comparison for BITCOINI'm sure most of you know that we are definitely going up for the near term. If you are unaware of how somewhat Elliott wave alternation with Fibonacci, its basically alternating measurements to form full 1:1 balances in forces when added together. (Example being if #3 wave within a wave 1 impulse is extended and measures to .618 of the full structure, then the next impulse wave 3 will more than likely also be extended to express the original strength of wave 1.) You can also use it to measure lengths from one another and visualize the possibilities of price action. This right here or at the end of the blue zone, is where you should take some profit if you planned to! If you look at my previous posts, you'll see how the range with 2.618 right under OLD ATH can be reached. BUT as you can see, if you take the size of the size of the first red C and place it at the end of the blue 1.618 where my proposed C would finish in the very top post^ before trend reversal , the 1:1 ratio will place it not a single dollar below the old 2017 all time high
Short
by williamdas
A likely re-test of trendline support - profit taking in action One the 1 hr we can see it would likely make most sense for BTC to come back to retest the POC which would likely fall on the support trendline that creates the bottom of the flag. We have stalling volume and profit taking and the daily candle is finally showing red so far. . On the 15 minute we are trading under the lower timeframe EMAS and testing the 50. BTS has also only once used VWAP (The white line on the RSI) to use as a bounce support, otherwise it's always pushed below quite deep. This profit taking had been speculated for a while in the social media space that we go to 40 from the 30k retest where people take profits and now it's happening and everyone's unsure of what to do next. Well as usual we let the whales decide where they want to take us and follow the flow. Be on guard.
COINBASE:BTCUSDShort
by JerBear77
CTI two recent zones of entry plus one ATM with TP and SL On the chart you can see two executed zones of entry with TP and SL areas, on RSI indicator you can see that when possibility to enter the market opens, RSI tends to flatten itself. Every recent point of entry has it and at the moment you can see it happening again. Also if you look closely on a more visual information from Trend Ribbon, you can see similarities in entry zone appearance at the middle of a local downtrend. I've laid out for you expected TP and SL areas with realistic expectations of growth from 0.07$ up to 0.09$ with expected execution time period around two to three and a half days, judging by previous periods.
by jjlung