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USDJPY target reached Hi traders, for weeks I have repeated myself in saying that USDJPY was extending higher in 1 unique wave. The upside potential was as a result of that limited. Now we fulfilled the minimum requirements for the correction of that unique wave. A very good structure trader can trade with 70% success rate. We trade with more than 90%. I don't say that to bias anyone but hope you all see the value in truly understanding not only structure, but also market dynamic and inter market analysis. That will help you improve your timing and will make you more comfortable in accumulating more trades after minor corrections. This weekend I will upload another video where I will cover the Dollar pairs as well as the US indices. You might have noticed that I haven't been calling for sells in those indices yet. That is because of the real driver of the US indices. That driver will be tested very soon and either result in a correction (on higher tf's) or even a reversal that is going to take longer. My cliffhanger; 'forget about earnings, that has nothing to do with it'. Buy the rumor sell the news ;-).
Short
by TimStuyts
2
LONG BTC / THE FIRST TARGET REACHED AND GO FOR MOREOn the descending line are the prices that were barrier and stop for the BTC to follow its bull run, which perfectly match the Fib levels. And the possible ones that remain or the king is already able to continue his longed up way up? We will see. 1st TARGET REACHED ------------USD 3824.88 (FIBO LEV 0.382) STRONGEST RESISTANCE LEVELS USD 4.000/4.122,81/4.544,11/4.903,29/5.364,16/ATH/6K/6.182.09/6.352,94 Thanks to the followers, likes and messages. Whatever happens that has to happen, but that must be fair and transparent!
BITSTAMP:BTCUSDLong
by AndresThomasShirakawa
4
Stop the panic Bitcoin longs!It's days like today I find that I am having to remind people what to overall long term trend looks like. Bitcoin is still bullish as it remains in my BLACK BULL CHANNEL. This BULL CHANNEL is nothing to sneeze at. It has remained intact since early May. You'll remember that it broke below this preceding the last fork. Only when we dipped below the bottom of my channel AND CONFIRMED by opening a new candle below this trendline on the daily did I become bearish. And, until I see these activities/indicators on my chart again, I will remain a bull. Although I was stopped out of my previous trade, I will continue to re-position myself back into the market until the bottom of my BLACK CHANNEL is broken ...if that happens. We will know soon. The CHANNEL BOTTOM is holding thus far and I remain a bull. More updates to come as the China news unfolds and is digested by this market. Until then stay rational my trading partners. The trend is still your friend.
BITSTAMP:BTCUSDLong
by stewdamus
THE FIFTH WAVE HAS ENDED? I DO NOT THINK SO. BTC DESTINY.First I do not believe in my humble opinion that the Elliots waves works on cryptos.They are very complex to locate and synchronize. The margin of error is zero. On the chart we see that after reaching the historical ATH, the price broke the main trend line (TL1) and tried to retest the ATH and found its Stop on the HH1. I formed a new trend line (TL2) joining the critical and relevant points and the price was of HH1 to make a pullback in LL1. It tried again and broke its trend at the same level as HH1. I named them HH2 to identify the pattern. Again made a drop and ended up doing a new pullback in LL2 perfectly on TL2. At this moment he is heading towards the HH3 and there can happen two things (no, it is not the Nike pipe) You can make the recoil without reaching the HH3 or arriving definitively. Here comes the moment of the greatest and last setback of the previous 3 months. Two scenarios: 0.382 FIB USD 3.7 / 3.8K and continue with the bull run to far surpass the 5.2 K 0.618 FIB USD 3.1 / 3.2K + bull run. Sorry but in my previous charts I was erratic, maybe for lack of practice, but I take care of my mistakes and I apologize. Thank you as always to everyone!
BITFINEX:BTCUSDLong
by AndresThomasShirakawa
6
Litecoin. I'm not buying ...yet.If you've followed my post, you'll realize that I've recently stopped out of Litecoin. Currently, my Litecoin deposits are sitting all in CASH. Here's what I'm waiting for. Just like it's big brother Bitcoin, Litecoin has a long upward bull channel (BLACK LINE). Ninety percent of the time we will remain within this bull channel. Currently, that's exactly where we sit. We're at the top of the BULL channel looking to break above it again. However, we have NOT. We have not opened a new candle above the TOP BLACK ASCENDING TL. And until this is done, I personally am skeptical that our bulls are back in control of this thing. If you're a bull looking for a new entry, I'd wait. Confirmation is needed here. We must open above the intersection of trendlines and procede upwards for solid confirmation. If you're a bear looking to short, I'm not sure I'd short here either. The market is making a big decision right now. We'll soon see how it plays out. Good entry for bulls is confirmation (any new candle that opens and closes above our TOP BLACK TL) or wait till we know we've hit our bottom. Currently, these last few candles simply look like a bear flag to me and we could procede lower? If we do procede lower, look closely at all of our supports: 65.96, 64.67, 62.38, 57.75, and 54.97. I personally would love to see us get down to our last all time high of $57.75 as this would indicate a healthy correction and would be beautiful to my eyes technically. However, I am just not sure at this point we'll get there. Today the market will be making these decisions. You'll know by tomorrow. Watch closely. Be careful. And good luck my trading friends.
COINBASE:LTCUSD
by stewdamus
5
I bought Litecoin again. Here's what I see.After an absolutely explosive and insane move from $50 to nearly $100 in only (6) six days, Litecoin put in another (5) five days of consolidation. Initially, I had hoped it would drop to $57.75 or even our $50 support. But now I am not sure this will be the case. Litecoin continues to look bullish. And just like my Bitcoin chart, it appears that Litecoin has broken out and above the long trending bull channel and will look to form a new, steeper ascending channel. Here's what I currently see on my Litecoin chart: - We've broken out of and opened above our (5) five day downward ascending trend - RSI showing hidden bullish divergence again - China news has been fully digested - Good supports of $73.33 and $74.80 will be hard to break below. My forcast: I see us bouncing around between the top of my bull channel (GREEN TL) and the steeper ascending PINK TL before reaching my new target of $98.28 for more consolidation. Should we reach the PINK TL before $98.28 I will sell. My stop outs remain any daily close below the top GREEN TL. I will follow this closely and adjust accordingly. Happy trading!
COINBASE:LTCUSDLong
by stewdamus
4
Litecoin: Short idea. Targets $57.75- $55. Longs reposition hereThose that follow me know that overall I'm long on Litecoin. However, my charts are telling me to sell here. Reasons: - We are at the top of our bull channel - RSI indicates we are highly overbought - Top of Bollinger - LTCBTC chart shows overhead resistance of 50MA on the daily - Everything follows our lead dog Bitcoin, which has nearly reached a long term target of $4800 If you have the ability to short Litecoin using your exchange, this is a great opportunity to do so. If you are a longer term bull (as I am) you might consider selling here and then repositioning in at a better price. Our target for these trades remain our support levels of $57.75 or $55 or anywhere in between. Happy trading all.
COINBASE:LTCUSDShort
by stewdamus
18
OMGUSD OmiseGo Target $15.28. Double your money!!!I want to show you something. I'm not saying this will happen but... Take a look at this chart. It is beautiful. And according to what it is telling me, we have two (possibly three) more days MAX (but probably less) of consolidation for OmiseGo. Once complete, we would break out and above our shorter downward sloping ORANGE trendline. Of course, the possibility remains that we could break down too, BUT remember, the trend is your friend. And there is more reason to believe OMG will go higher including but not limited to: - Bitcoin continuing to lead upwards - Great support at 78.6% ($7.60) - Current trend for OMG - Middle Bollinger rising rapidly for support - etc. Our longer term (maybe not till October) target is $15.28 (161.8% Fib), DOUBLE CURRENT PRICE! At which point you will be yelling, "OMG"! WARNING: This is a high risk trade with risk of big losses. You MUST put in your stops properly. Stop out would be at $7.60. Trade carefully and, as always, happy trading my friends.
BITFINEX:OMGUSDLong
by stewdamus
5