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Technical-analysis

BITCOIN - How did I know when to buy?A lot of people have been asking me how I chose this entry point, which led to a big profit, so here's how to do it: 1) Clear your mind of all the news, all the discussions, all the opinions about Bitcoin. It clouds your mind and confuses your judgement. 2) Look at the chart calmly and decide what pattern is forming. Where are the current resistance and support levels, the levels where the price tends to turn around and head back in the opposite direction? In the early stages of a pattern's development it can be hard to identify these levels with any degree of certainty. See how in this chart I posted 3 weeks ago, I was still toying with four different possibilities: 3) As the pattern develops it becomes easier to choose one probable interpretation. In this case, it was developing into a "broadening triangle", the shape of a megaphone, a relatively unusual pattern which is not particularly reliable. It is neither bullish nor bearish, but it does at least allow us to define where the support and resistance are strongest (the blue dotted lines in my main image at the top of this post). 4) Once the dotted lines were established, a decisive move above the top line would be a breakout worth buying. Breakouts often fail (and you can see the first attempt failed in this case before the "real" breakout succeeded). Trend followers like me make our money by making big profits on the breakouts that succeed and exiting the failed breakouts quickly with a small profit or a small loss. The few big profits outweigh the many small failures. This technique is proven conclusively to work across all markets in numerous academic studies and backtests. I stick mostly to 'classical charting' - the simple tried-and-tested patterns first talked about in early technical analysis books, a hundred years ago. I use these because, again, numerous academic studies have proved these patterns can give you an edge in the markets. The same is sadly not true for some more recently-developed TA techniques. I hope I've covered everything there. I'm always happy to answer any questions. And of course I go into a lot more detail in my new book, The Crypto Trader, available for pre-order on Amazon (and released on May 20).
COINBASE:BTCUSDLong
by GlenGoodman
4
BTC is HOT - where its looking to goHey everyone, Shutout to all the mom's on this mother's day! Let's get to it. EXCITING STUFF going on here. Although I didn't enter thinking that price was going to skyrocket the past day, we did have a successful long from last week that still brought in a hefty chunk of cash. Taking a look at the chart today, BTC is HOT. after an exponential run in just 48 hours, the coin needs to relax and lay low for a day or two before any big moves happen. The RSI is teasing the danger zone, and needs to consolidate to around 60 ish again and move out of that overbought position. The highest number of shorts (since January) were just liquidated on the asset, possibly due to exchanges wanting to cover their butt as all sorts of scandals are draining money (Binance?). There are a few different prices that BTC could consolidate at and I'll tell you in order the strongest to weakest. STRONG Bull- 7000. It's a psychological level, it has a fib level sitting right next to it. The EMA is keeping the price floating right above it. BTCUSDSHORTS is hitting a consolidating area right now, which is about at $7000. EHHHH - $6600s. This range has a tremendous amount of bull volume supporting it, and it's also right next to a fib level. If I was going to swing trade long at 7000, I would throw a stop loss around this level Weak Bear - $6200-6250 .If you don't think there's a chance to start a bull run, I'd look to short around this level. There has been consolidation here before, consistent bull/bear volume. Price trended here for a substantial amount of time prior to this run, and, as always, there's a nice cushion from the fib level here. Depending on your trading style and attitude towards the market, the strategy will be different. Personally, I am very bullish due to the overall change in sentiment, and I believe crypto will take off. However, if you think the technology is not worth the current price, trade to your style. Make sure to always STICK TO YOUR PLAN when you trade, and make predetermined adjustments as the market evolves. Don't trade emotionally and make sure you're not just throwing in money because of FOMO. What do you think? Is this a short-lived trend that exchanges are just using to get some extra cash? -Block
BITFINEX:BTCUSD
by block21e8
USDCAD, Long Buy, 1:7 RRUSDCAD LONG BUY The loonie has been consolidating in a wedge formation for a weeks now and has finally made a bullish push to the upside. Our points of consolidation were between 1.3300 and 1.3400. After breaking above that strong psychological resistance at 1.3400 we made way for a strong move. Upside rally pushed by the interest rate news, helped USDCAD touch 1.35200 before the sell off. Now that we have made a move back to retest the wedge structure, the potential for this pair to go higher is valid. The falling prices of oil should help boost the pair to the upside. We are also resting on previous resistance, now acting as support. With the month of May underway, the potential for this pair to rise to previous highs is exciting! Setting a tight stop loss, in the case that we break below the wedge structure, should we do so, I will look to short this pair on the retest of the wedge structure. Buy USDCAD Type: Swing Trade BUY: 1.3375 TP1: 1.3410 TP2: 1.3460 TP3: 1.3500 TP4: 1.3550 Stop Loss: 1.33500 RR: 1:7 (25 pip risk, 175 pip reward) Please keep note that Forex is a very volatile market and literally anything can happen at any moment, the trade signals provided here are suggestions only* - If you would like to join our subscription service to receive daily/weekly Forex signals please sign up at: - www.profitinpips.com We have professional and standard chatrooms available! Thank You
Long
by CaliG11
Forget Bitcoin and watch this textbook TA!Away from the action on BTC and the S&P500, I'm making big profits on hidden gems, like this UK stock. A classic TA inverse head and shoulders setup! Straight out of the dusty textbooks. Strong volume on the left shoulder and weak volume on the right shoulder, just as it should be. I bought just above the breakout line. The breakout is clean, retests to a perfect level and then takes off like a rocket! Beautiful. (and highly profitable).
LSE:PPSEducation
by GlenGoodman
7
It was actually a wave 5Updated count on YETI since by B wave count was wrong. Overshot the 1.272 for wave 3, indicating that the 1.618 will likely be reached. This puts us at $38.50 range to complete the 5 waves up, confluence by 2 pitchforks and 3 major fib extensions. Looking for a retracement to $34 before going long for this move. Preparing to short above $36 and continue positioning through the target. I stretched a fib retracement from the target price and the levels land nicely where we see recent price action. Wave A should slice thru to $30- 33, break the major pitchfork and continue down to $23-25. The 786 level cant be ignored down at $18. Note the RSI bearish divergence.
NYSE:YETI
by warrenbudget
ETHEREUM - A crucial moment for ETHEthereum is being pressured by two opposing forces. The breakout upwards from the blue triangle created a strong support line (the horizontal blue line), but it quickly encountered strong resistance at the level of the dotted blue line. This was the point at which Ethereum broke downwards last November. Now it has formed a Head & Shoulders pattern which would usually be resolved with a strong move downwards. But in this case, the strong blue support line is resisting this downward move. If ETH moves upwards, in a Head & Shoulders rejection move, it will again encounter resistance at the dotted line.
BITFINEX:ETHUSD
by GlenGoodman
9
Reading NEWS Daily would make you a BETTER Trader Overall!Well, there are three types of traders we can come across and all of them believe their method of trading yields them profits, be it using only indicators and price action (Technical analyst) or reacting to news whilst trading (fundamental analyst) or trading according to market sentiment (sentimental Analyst)! In most circumstances we can only see that some traders lets take for instance technical analysis traders, they only perform their trades based on analysis of the charts by using patterns and indicators!. While there may be few traders who combine Both fundamental and technical analysis to execute their trades, most of them do NOT prefer to do this method particularly as they believe "its take a lot of effort to combine these two techniques which would eventually result in executing less trades when compared to using single method!" Whereas the above statement holds true, it can also be fairly said that the combination of the three techniques (technical, fundamental and sentimental analysis) gives a trader more confidence and trust in his/her analysis!. Take for example myself, i used to execute around 2 trades daily when i was basing my analysis solely on technical perspective. These days i only execute around 5 trades a MONTH due to i combine all these 3 techniques which gives me more confidence and trust in executing my trades! I also noticed that since my trades are high probability setups, my win rate is way better when i was using on technical analysis alone. These days i hardly do DAY trading as i spend most of the time reading news and chart analysis to find high probability trades on higher time frames (DAILY, WEEKLY & RARELY 4HR). What i have come to realize in all these years is that SWING trading gives me more accurate results and high win percentage. I do NOT expect to double my account in a month's time, but i trade using risk management and just execute enough trades to make what i can without being stress and blowing up my account! So my advice to all you guys would be to try to combine both fundamental and technical analysis to execute your trades. Here is a big TIP for those that only use technical analysis to execute their trades: TRY TO SPEND 1-2 HOURS A DAY READING NEWS ON APPS SUCH AS INVESTING.COM (BOTH ANALYSIS AND NEWS SECTION), MYFXBOOK NEWS SECTION AND TRADER SENTIMENT SECTION, HAVE A LOOK AT SOMEONES ELSE IDEAS ON TRADINGVIEW.COM If you keep this a habit of reading news and analysis together whilst performing your own too, you will develop a GUT feeling technique that is unique and which will likely tell you where the market is headed prior to you even performing your technical analysis! Its a very special technique but it takes time and habit to develop. Here we see the main of GOLD (XAUUSD) pair i has a gut feeling would reverse and dip slightly because markets were in RISK ON mood. Now this pair is on its way to form HEAD AND SHOULDERS PAttern which is on the verge of breaking the neckline. Now the pattern is not yet complete because the technically the neckline has not broken, but i have a GUT feeling that it would break soon enough and target the ascending trendline beneath at 1260.000 level. its a very special technique and i hope some of you could combine them and use it to your greater advantage! Cheers
OANDA:XAUUSDEducation
by FX618Analysis
VISA... SAME AS PAYPAL. SHORT IT!Made a VISA chart to compare against my paypal TA. very similar wave structure, but paypal will have more volatility. See my short term PYPL chart for entry targets. Looking at major indexes (SPY/ DJI), the top is close. Whether youre a bull or a bear, the top of this 2019 rally is close... Algos will certainly be selling the ATH's if we even get that close. Check out the daily 200 MA's... right at the 0.618 for these stocks. Target here for a leg down.
NYSE:VShort
by warrenbudget
Sir, the channel has been takenThe channel is gone, just as we predicted. It's a sad day to lose such a strong channel, especially for you bulls out there who stayed optimistic. Earlier, bitcoin bounced out of the channel that it was steady trending in due to a quick 1 hour bump in bear volume. If this pressure keeps up, expect to fall all the way down to the .5 fib level, where heavy bear volume bounced bullish earlier last week For you bulls out there - it's a waiting game. Wait till you see confirmation after a new trend formation. For you bears out there - you might see some more gains once this .382 fib level is broken. For you newcomers, it's a 50/50 right now. be careful entering with leverage What do you think? Is this just a head-fake, or are the bears taking back some control? -Block
BITFINEX:BTCUSD
by block21e8
2 Paths 1 Opportunitty for ETH signalBulls are tired so I am inclined to think it will be the bearish option in any case I will either short or Go Long at those entry points resistance and support match Fib Levels and if macd and psi are positive for either of those options on multiple time frames whey will validate the direction . If you want to be even more sure candles should be closing or very near closing to the Bollinger bands either the upper band if Long or the lower band if Short will update before taking the trade.
KRAKEN:ETHUSD
by bourda