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WTI A STRONG CASE FOR BULL PHASE TO 55 Well for sometime I been waiting for a final washout in wti into my two targets 1st was 49.58 we saw that and rallied to 54.5 in a 3 wave rally then we formed a triangle for a 4 wave or a alt is that todays low at 47.26 is a wave B low both wave counts now point to a sharp rally as the alt downside was in a window of 47 60 to 45.98 therefore I am long today at 47.55 fill and missed a fill at 47.26 look for the rally to take a 5 wave up to 55 to confirm we must break above 48.65 todays dsi is 5
FX:USOILLong
by wavetimer
NZDUSD: Long Opened TodayHey guys, here we go again. Im thinking of publishing every trade i take here for a time from now, what do you think about it ? Leave a comment. Today in US Market Session we entered a buy on NZDUSD. Above you can see our analysis on this pair on the 4h timeframe. Price formed a support zone (marked in the grey box) - even on the daily. The lowest low is a fake out with a divergence indicating a trend change. Trend already had 2 correction waves (marked in yellow boxes) and we are looking to buy the next wave up to the last high. Honestly, as i mentioned before, the daily looks good for a buy also, so maybe the take profit will be much more pips. Will keep you updated as always. Stay safe.
Long
by darian_fx
SPX: S&P 500 Index Trade Points Today S&P 500 Index SPX500USD Was looking for a selling climax around yesterday's open, leading to a counter rally which would last into Friday's US open before falling away again. Well we got the counter rally just after the open in US, leaving a spike off the low at 2708 and 9 points from the next support line at 2699. Not much good, really. Then the S&P had to regain 2763 to have a decent chance of ralling further overnight. It managed to do this and went on to reach a high at 2781 before falling away to retest the 2763 line yet again before bouncing. Nasdaq has had a good overnight too, rallying to resistance and Goog is called up around 1100 again on the open. So far so good. The next big question is how markets will react on the open, obviously. Will they top out here with Goog at 1100 and fall away again - or can they break the highs of yesteday and spark a bigger counter-rally as the day wears on and more near term confidence starts to return as price builds? Downside Trades Today Ideally it will be the former - if so the first clue should be a break back below 2763-2760 range. That should be worth shorting back to 2744-3 range It should try to bounce again here, trying to form a right shoulder to lean on. A break below 2740 would suggest that attempt has failed and it should then start to fall away to 2699 and 2674 support lines. Upside Trades 2763-2760 must hold up around the open if this counter rally is hold up a while longer, tempting more longs as well as some bear closing back up towards the 2784-2794 range where it should become vulnerable again. Hoping that Google will again help to clarify price action from here. It has to hold up above 1100 today for markets in general to remain positive, imo. A break above 2794 on SPX should ideally be accompanied by GOOG pushing higher above 1100 too. That should then trigger a decent relief rally back to 2834 on S&P at least and potentially as high as 2865 before collapsing again. Again we need to be prepared for this if it materialises and to follow long to 2834 (and suspend disbelief for a while :) Markets are still super volatile still and still trying to make up their minds whether to stabilse for a while or break lower still. This volatility is similar to Bitcoin of old. This is where the skill sets you learned trading the crypto markets should be useful. Once again there's likely to be plenty of whipsaw around the open. Once more it will be a close-run game of cat and mouse - with a break above 2794 needed for the counter rally to turn into a relief rally higher as above. The overall picture is still negative looking into next week. That will remain the case unless and until a double bottom materialises when the next decline sets in. Often a poor October leads to a counter rally around mid month leading to another sell off in November. A volatile couple of months are in store with a series of great trading opportunities still to come. Like Bitcoin of yore. Be lucky. Follow the chart and not blind hunches or dogma and you will be ;) * For major market updates in real time today please see links at top-left of main page
OANDA:SPX500USD
by sumastardon
Bitshares on sale today!There's a lesson to be learned every day! For me the lesson is: always "cost average" into a position. I was too lazy to ladder in, so I bought at the .618 retracement, and unfortunately we dipped deeper. Putting it more correctly: unfortunately for me, because for those who didn't buy Bitshares is on sale today! We've briefly dipped below the long-term support trendline, most likely to go to the .886 retracement. Given the low low low RSI's we're seeing on multiple timeframes today. I think you need to be blind not to scale into BTSBTC at the moment so if you ask me: start accumulating, and set your stop loss right at the 100% retracement, then move up the stop loss as soon as price goes up for a free trade.
Long
by thomasvandenabeele
Bitcoin Today: only 7000 mattersPrice The bullish tendency remains, yesterday BTCUSD overcame 6600 level and now trading on the 6700 level. 6800 level is the resistance, which sent the price down on July 8th, a breakthrough above this level will add more to the bullish view. Nonetheless, much more important resistance, for now, is 7000 level. As long as the price holds below 7000 level - either lateral movement or fall will be prevailing forecasts. Important levels for today: 6600 must hold on to support bullish scenario, piercing of 6800 will send the price to test the most important 7000. Still, the chances to see a breakthrough of 7000 and sustained movement upwards are low until the 16 August, the date when SEC should answer on the Bitcoin ETF regulation inquiry. Today forecast Trading in the 6600 – 6800 zone. Latest news Blackrock Examining Crypto Market Blackrock, considered to be the world’s largest asset manager with over $6 trillion in assets under management, is probing the crypto market. Reports have popped up yesterday that the NYSE-listed company has created a ‘working group’ to explore how it can take advantage of the hot new alternative investment instruments. Larry Fink, chairman and CEO, subsequently denied in an interview that the company is setting up any crypto trading capabilities or that Blackrock received demand for it from its clients. However, he did confirm that the company is studying the performance of cryptocurrencies to be prepared for the eventuality in the future. “When it becomes more legitimatized, when it has a true open nature of it that you can identify who the players are on both sides, that’s when we’ll probably look at it,” Fink said. Coinbase Approved to List Securities Popular US-based cryptocurrency exchange Coinbase Inc. has been given approval by the U.S. Securities and Exchange Commission to acquire three companies, allowing it to list securities tokens and provide a broader range of financial services. There has recently been a race among crypto companies to acquire licenses to offer securities in the US, with firms such as Coinbase, Circle and Uphold buying up regulated assets. Now the former says that the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have approved its takeover of Keystone Capital, Venovate Marketplace and Digital Wealth, the three entities that Coinbase sought for their licenses. The next step for the company is integrating its own technology into the new subsidiaries, and training up its staff to comply with American securities brokering regulations.
BITFINEX:BTCUSD
by DestinationMoonCrypto
BTCUSD Sunday Chart Update and Key Trade-Points TodayBitcoin Sunday Chart Update and Key Trade Points So far this looks like a good Reverse/Inverse Head and Shoulders in classic formation with a perfect retest of the neck-line yesterday at 7600 (even more so because no one seems to have really mentioned it - the low today here is 7600 precisely). It carries with it a minimum implied upside target at 8163 on Bitfinex. But in the near term Bitcoin has made an 07:30gmt break higher from the 7644 line as it did yesterday too -before spending 24 hours moving sideways again. The new normal. Sheesh. Every break higher is getting faded now for hours and hours after the intial impulse. £0 minutes of action followed by 24 hours of continuation. Just like fishing on a slow day :( But this break today is still potentially significant. We now have a technical battle emerging between the power of the RHS on upside and the power of the upper dynamic of a loosely defined rising wedge-like formation on the downside, both in opposition to each-other, one a positive force and the other negative. So we can spend quite some time today in yet another continuation pattern with support at 7700 and extending to the lower parallel of the newly forming pattern from the intra-day high. Both these opposing patterns are powerful. Which pattern will prove stronger ? Well, so long as the dynamic which forms the lows of the right shoulder holds up on retests today the likelihood is that eventually the break will be higher and not lower. If so other than buying the dip to 7700 and below to 7768 and maybe to the 7644 line the only other option is to buy the break above the upper small falling dynamic from the intra-day high when and if it comes later on - need a volume spurt to follow it to know it's good - but the pattern is still overall positive at this point and the uppermost risng dynamic which capped the high today so far, is beginning to lose its power and on the 5th strike it should break too. That will open the way for a RHS to take control and begin to drive price towards the upside target at 8163. Returning to the downside Bitcoin has to break below the risng dynamic underpinning the lows of the right shoulder of the RHS to start flipping longs out back to 7644 and if this then fails to the neck-line itself again at 7600. This level must hold up throughout the day from here. Any failure by more than 15 points will flip Bitcoin back into bear hands, signalling ultimate failure of the RHS and trigger a short from this point with stops 50 points or so higher if struck later.
BITFINEX:BTCUSDLong
by sumastardon
BTCUSD: Bitcoin Reverse Head and Shoulders Trying to Complete 10:00 gmt 05:00est Saturday Bitcoin Bitmex Chart Update After holding up overnight Bitcoin began to break higher above 7450 at 06:00 am in Europe triggering the next long to the 7624-7735 range with a high so far at 7681 on Bitmex. In doing so Bitcoin is defying the bears as it tries to complete the RHS pattern we've been watching develop over the last few days of trading. To do this Bitcoin has to find buyers enough to break above the 7735 level on Bitmex and the other feeds we cover to trigger the next long or add from here to 7948 initially and then to the minimum upside target created by the RHS at 8157. Returning to the downside, although this RHS pattern looks 'real' it hasn't completed yet and can't do without fresh buying power to push it through the 7735 level. It can stooge around for some time here making up its mind. Despite renewed optimism for the weekend ahead it can still fail and end in disappointment if we don't see that break above 7735 materialise later today. It's Ok for price to come back to the 7641 and then retest the 7600 main neck-line again but it should hold up from here if it's to stay positive from here. Any subsequent failure to hold 7600 during the course of today would be the first clue that the RHS is failing due to lack of interest - it should then start to fall away further to 7500-7448 range again at first and attempt to rally again from there. More as the day develops...
BITMEX:XBT
by sumastardon
12
BTCUSD Bitcoin: Next Trade Points TodayBTCUSD: Bitcoin: Next Trade Points Bitcoin was expected to fall back to 7301 before bouncing away again. In the event it fell to an intra-day low at 7273 before the bounce came. Not great. Since then it's made a high at 7599 and extended to touch the upper end of the same (less acute) parallels that have been running inside the noise of the last 4 days or so. The near term picture is still more positive than negative at this point and Bitcoin should push higher still towards the next upside target at 7760-7817 as the day wears on. But in the near term it's a little over-extended and needs to consolidate again. Initial support lies at 7480- any failure here will likely create a fast retest of the 7401 line at lowest today. It must hold here off the lower rising parallel for the counter-rally to stay good from this point. If wrong at this point any eventual failure here at 7400 will turn the tables yet again and trigger another near term short back to 7166.
COINBASE:BTCUSDLong
by sumastardon
2
BTCUSD Bitcoin: Trade Points Today 11:34 Gmt 06:34 Est Bitcoin Coinbase Update OK. So a little a break higher to bust out bear stops around 7166 - stop hunters and bots! But at least a little continuation pattern looks to be forming now giving us break points either side of the smallest parallels . Only gets interesting again once we see a break either up or down - which we can follow with stops under 7166 if the break is higher, and more likely, above the lower smaller parallel of the continuation pattern on an eventual break lower. 12:59 Gmt 07:59EstBitcoin Coinbase Update That was a great break up to the next level at 7431 with spikes above the line to 7479 here. The rejection spikes are big though. It needs to unwind under the 7431 line . But on the bull side now we have the biggest green candle for ages - nothing to compare in the run down. This is more than a bear a bear squeeze. It's buying intent as well. So will be looking to buy again from lower down later * For up-dates in real-time for more active traders please see link at top-left of main page
COINBASE:BTCUSD
by sumastardon
5
BTCUSD: Bitcoin - Next Trade Points Today Bitcoin Bitfinex Update 14: 24gmt 09:24est Having hit the near term target Bitcoin is unwinding off the underside of the upper parallel of what is still a large continuation pattern - it should spend some more time moving sideways to downwards as it consolidates the recent break higher and day traders take their profits and some reverse short too. It can come back to 9290 and to 9250 at likely lowest before it rallies again. The next resistance above 9348-9361 lies at 9436 followed by 9500-9560. 13:55gmt 08:55est Bitcoin Bitfinex Break Examined The first break above the dynamic was an initial failure and it came back 50 points to the support line again around 9180 to make a 3rd wave down - we look for 3/4/5 wave sequences usually but with Bitcoin usually 4's. The 4th minor wave took Bitcoin back above the dynamic and was followed by a retest of the same line from above (not quite touching the same line again, doh) before it finally moved in a near straight line higher, with one last chance to get long at the 9250 just a few minutes ago. Stay long for now. Day traders will close out at 9350 though most likely... 13:42gmt 08:42est The dynamic has been broken and triggered the next longs. The rally so far is not particularly great but it is bear engulfing - it can come back some again from 9300 and just under without some volume kicking in here - but it's Ok and despite some sideways movement and back to the 9250 line it should rally later to 9348 and potentially higher still On the downside Bitcoin has to break below 9160-9150 to trigger further near term weakness and a potential short back to the 9064 line where it should bounce once more. Bitcoin Bitfinex Update 10:29gmt 05:29est Although it's had a reasonably positive overnight start the rally has still not reached the next upside target at 9348 on this feed yet. Since reaching an overnight high at 9292 Bitcoin has fallen back some and looks to be cosolidating off the 9183 line. It cannot be bought again until the dynamic off the overnight high is broken to the upside in which case can follow long with stops under the dynamic when broken. *For updates in real-time please see link, top-left of main page
BITFINEX:BTCUSD
by sumastardon
11
BTCUSD Key Levels for Longs TodayBitcoin Coinbase Update 12:52gmt 07:52est Although it's rallied above the 8768 line and held the the little retest the rally from there has been very lame so far. Looks to be waiting for more buyers going into US open. They need to be there or this long shot will get stopped ...raising stop to 8810 as if it gets hit it will come back to the 8768 line again most probably. If so will look to buy again around there if stopped out at 8809. It will need some volume to arrive soon along with buying interest for this long to stay good from here. Bitcoin Update Coinbase 10:53gmt 05:53est Since making a high at 9763 and missing the upside target by fully 100 points - sorry for that, missed it by a country mile - Bitcoin has lost nearly 1200 points and is now resting on the lower parallel. But there is little interest showing right now, even at these lower levels. A safer potential long lies not far above here and it looks prudent to wait for better confirmation than we have right now as this continued lack of interest is making a long from here just too risky. It has to break back above the dynamic from the recent high to attract any more buyers. It's a safer buy/add only once it can achieve this, needing to break and hold above the 8768 line as it does so with stops below 8750 when broken above. Small spikes above and below price on the 15 minute chart shows the indecision here at the 8700 level On the downside Bitcoin has to break below 8600 to trigger further weakness/short back to 7760 and 7584 .
COINBASE:BTCUSDLong
by sumastardon
4
Bitcoin Futures Chart Update: BTC1! Next Trade PointsBitcoin Futures BTC1! CME Near Date The futures chart is showing some of the clearest trend lines at moment so is worth a look. Price action yesterday has not helped the bull cause. The chart shows Bitcoin is still in a very precarious state. Yesterday's fencing battle with thrusts upwards and spikes down was by turns dreary and stultifying and mixed with moments of excitement that untlimately led nowhere slowly. Although there is minor support at 8570 here it is not likely to hold up for long. No evidence of human activity now, just bots battling in no-man's land. After yesterday's small-scale roller- coaster ride of flips and false breaks not even day traders are showing much interest now. But the Bots have won a hollow victory in near term. They've effectively scared the market to a near stand-still. Once bitten, twice shy. Another test of 8286 line looks likely here soon. Although it should try to bounce from here the overall pattern is suggesting that this level will break eventually and trigger a short to 7619 initially. In turn a break below here is likely to lead to a retest of the lows at 5950. On the upside any rally from here is likely to get rejected by the dynamic now forming from the last rally high. Cannot think about a long from here unless 9300 is retaken and held by the bulls. That would turn Bitcoin back to positive again and can be followed if we see it happen. It looks unlikely now but we still need to be prepared for both eventualities just in case. But until we get a clear signal as above the best course of action right now is to keep powder dry and try not to get sucked into false breaks in the meantime.
CME:BTC1!
by sumastardon
BTCUSD Bitcoin Key Levels TodayBitcoin BTCUSD Key Levels Today Busted out of the long just under the target at 11738 on the Bitfinex feed with the high at 11700, some 38 points shy of the final completion target. Cruel Bitcoin. We were looking to short from the target - those who did so have been rewarded for their courage. If you were one of them then well done to you. It was close to perfection, but not exact. Sorry for that. So now we are short and looking for a test of 10740 line here before a decent bounce where we can look to close out any shorts - think it will bounce but fail here later, coming back to the lower parallel at 10448 on Bitfinex where it should begin to rally again. At all costs 10448 must continue to hold up throughout the day today. For any failure here would tip Bitcoin back into the hands of the bears again who won't release their hold until 9285 is tested. If we see this develop today we can short again - but right now we need to keep an eye on the lowest parallel at 10448. It must hold up today if we are to avoid a serious day of damage unfolding right across the entire market. * For updates in real-time please see top left of main page
BITFINEX:BTCUSDShort
by sumastardon
37
NEOUSD: Still Positive - Next Buy Point ApproachingNEOUSD Still Positive - Next Buy Point Approaching The minimum upside target created by the RHS is 173 but it's taking its time to get there. Looks to be in process of completing another continuation pattern before firing higher again soon. Once it passes 128 and holds there it should advance to 148/150 where the upper dynamic will most likely reject it again on the next touch. But WD Gann tells us that 4 touches should be the maximum and on the 5th attempt it should push through the dynamic and complete to the target at 169-173 range. Can therefore split trade into two parts, from 128 to 148-150 and then from 151 to to 169-173 - or can buy and hold depending on trading profile. Support lies at 121.5 and whilst above here Neo is positive. Stops for longs just under 120.
BITFINEX:NEOUSDLong
by sumastardon
1
Bitcoin BTCUSD Still Positive Today: Next Buy PointsBitcoin BTCUSD Saturday Update/Buy Points After another 15 hour period of dreary consolidation lasting through the European session and right through the US session to the close Bitcoin finally bottomed right on the low point forecast for the day before the rally we spent all day waiting for finally kicked in. Patience was finally rewarded as Bitcoin began to push higher again into the far East session, rallying to an overnight high at 11419 before the customary 06/01est sell off. Later today it should push higher still to test 11790. In the meantime though, it can spend quite some time moving sideways once more, using the 11192 line here on Bitfinex as support as it does so - and can come back to the parallel underneath it at lowest to stay good from here today for the rally to 11790. This process may be mercifully short - but it could also last several hours as it did yesterday. We need to be prepared for both. Look to enter long if not already from 11192 -11050 range (with stops under 11000) or can add/enter long again once 11430 has been broken above for rally to 11790 where we will look to close out and maybe reverse short if touched later on - depending on price action when we reach the upside target. More as this move develops. Whilst Bitcoin remains within the parallels guiding this rally it remains overall positive.
BITFINEX:BTCUSDLong
by sumastardon
11