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IOTA - Bullish TendencyGood afternoon traders! In my previous analysis (linked below) I identified a triangle pattern in IOTUSD H1. As you can see, price broke triangle pattern, and then, tested its new resistance line at 4.2. Now that the market correction has finished, price will keep moving forward throught its tendency line. Volume tendency supports current price tendency. Recommendation: BUY TakeProfit1: 4.99827 Take Profit2: 5.28218 (Riskier) If you find this analysis helpful, don't forget to follow, like and comment! :)
BITFINEX:IOTUSDLong
by Juanchobanano
11
BCHUSD: Vunerable below 1300 - sell here stop 10 points aboveBCHUSD Update Trading Strategies Today We were short from 1346 back to 1245-1228 range for a quick 100 point win but then reversed here according to the plan (top left) - we were looking for a wipe-out to 1286 and hena bounce back to the line above it on chart and then the big collapse. It went OK, but the low at this point was 1274 (so stops which were way too tight in a crazy fast market were hit for a 5 to 20 point loss and we missed a great trade back on the rebound as it duly whipsawed back up to 1349-1367 range with a great pin bar of rejection appearing as it attempted to break free of the parallel that still holds it back now - a clue that this is still unloved right now...so with TV down and no way of uploading we had a second chance there to short again...what a night for TV uploads to explode. This is so technically near-perfect (the new downtrend contained within the parallels is hardly perfect, but still feels right (but we know it's can be violated on upside and not be trustworthy, so not perfect here for sure)...will it stay that way for the finale? BTC still doesn't look finished on the downside yet. It's about to hit the upper parallel and can reach 1300 where it becomes a sell again, looking for the final flush out back to 1178 to 1123 range. Look to get long again in this range if struck later. Will likely be hectic and full of whipsaw potentially, nevertheless brave the storm and look to get long as low down as possibe in this range. Can set buy orders now, rather than in heat of battle, if it comes as expected to. Spread them across the range from 1178 down to 1123 with all stops below 1100. if not all struck be ready to add on break of upper parallel once the lows have been struck. Cannot trust a break above this upper paarllel that controls upside as we can see it's been broken through but never survived a retest, but still believe it will hold back this rally at 1299. Sell from here with stops 10 points plus above the parallel and look to buy back later, as above.
BShort
by sumastardon
ETHUSD Range and key break levels for today ETHUSD Update Risk Management Today Neutral whilst Trading between the lines, but great for day traders whilst it lasts. Left this as a sell off the underside of the lower parallel at 469 but it only reached 468 before it came off...two little pins off the underside was enough warning to exit and traders had plenty of time to see it form and take action. We looked to buy back at 455 and since then it's risen to hit the underside of the same parallel - and what was once support is now resistance to the upside in classic fashion...so that was a sell again (was banned from updating anything for 12 hours last night for making honest error of uploading a Litecoin chart to the sad little fellow who haunts the gold chat room on TV. So was banned because he reported my error and some jackbooted apparatchik moderator shut me down. Who would have the time to go report someone for making an error? Who are these people ffs?) So couldn't update this beautiful chart action...anyway it's been fantastic to trade in and out of if you've followed the lines on this chart which are unchanged from yesterday with addition of the new uptrend line which had formed here over the last 48 hours. Fairly obviously it's a buy off the new uptrend line supporting the entire move and a sell off the parallel above it...until the chart tells us it's changing. It either pops above the parallel and then comes back to test it from above once popped, it holds up ...very bullish outcome. get long again...you have missed about 3 points and a massive risk (if it fails from the parallel and you haven't closed out at the high). And alternatively if the uptrend line supporting this entire move gives way at any point it will come off to 446 again and potentially to 433 should 446 give way at any point. Something has to give here pretty soon now. Be ready for it. Follow what the chart tells you. Chart not heart. Always
BITFINEX:ETHUSD
by sumastardon
Bitcoin: BTCUSD Pivot point for today looks to be 6450Bitcoin: BTCUSD Update/levels for longs This trade is in balance, but OK above 6450 The trend is overall positive right now barring super near term test of lower parallel and successful, so far, retest of the key level at 6450 - which looks to be the pivot for day on downside) So If broken at any point and our stop 50 points lower is struck we should look to reverse short again on the next rally attempt towards 6440 once it's broken - it must then fail there to trigger the short with stop 50 points above. But until the stop is hit, the trade is good and we stay long to target at 6940 and then we look to close out and get short again with stop 50/60 points above. We then need price to fall below the lower parallel of this impulse wave with some red candles appearing, bigger the better...so if don't see this, just some lazy backing and filling but held up by the lower parallel it means Bitcoin is stronger than anticipated and needs a plan B, again...the width of the parallels is 250 points, great for day-traders and maybe even for swing traders who are willing to sit with it for a while as one of 3 things occur, most likely: 1. It does what it's meant to, reaches target, get short again, red candles, quite big, a failed bounce and then break of the lower parallel about 250 lower at 6700 by this point in time and all's well with the short back to 6510 target and then reverse again, going long with stop under 6420. Sweet. 2. It falls below 6450 and then our stop below here and we're out with 50 point loss plus spreads and reversing completely. 3. It hits our desired target but It doesn't want to break the the lower parallel around 6700 when tested, it holds. In which case close out shorts and wait to see if the bounce is strong with nice green candles again or feeble and likely to fail ...if so short gain when failure is evident, on first retest of the failed lower parallel from underneath (with stop 50 points above), looking for 6510 target, as above from there. On upside, further out in time, and so we are prepared with straight-forward plans (for experienced traders, anyway) for any eventuality: Any break above 6960 which is then sustained on the next pull back would be very surprising (so could happen, it's BItcoin don't forget) and mean we have to long again with stops 50 points under 6940 level. So the pivot point on upsdie is 6960 by look of thins
BITSTAMP:BTCUSDLong
by sumastardon
Bitcoin: BTCUSD Levels of Interest TodayBitcoin: BTCUSD Not Out of Woods Yet By 7.30pm est the Chinese market opened and started to pile in, probably not believing their luck that Bitcoin was trading at the ideal entry point off 7077 again. The immediate burst of buying took Bitcoin up to test the resistance line at 7344 for a quick 260 points of profiit before sellers moved back in. Since then we've seen backing and filling as it comes back to test the parabola again, which is NOT holding it up now and is curently at 7150, with fixed support at 7140... and more at 7077 nearby. It should start to find support around here but then has to break out of the little channel it's running down to break free of selling pressure and hold up on retests when the breakout occurs...That breakout should be worth following if we see it. Downside, it can come back to 7077-7060 but must hold up here today if it is to avoid another fall back to 6943....if it does this, it becomes a buy again for day-traders at 6943 with stop just under 6900, looking for a rally back to 7070 initially. Stops on current longs remain below 7050, which if broken means that 6934 will likely be tested again. The 6934 level down to 6900 remains critical for Bitcoin. It must hold up here on all tests. Failure to do so will trigger a welter of selling in all likelihood, back to 6312 at least, more likely to 6165. A good short, if we see it.
BITSTAMP:BTCUSDLong
by sumastardon
BITCOIN: BTCUSD Still good above 2750BITCOIN: BTCUSD Long story short: Bitcoin good above 2750, bad below same level. Looks like the pivot for price action today. Longer story:BITCOIN: BTCUSD Even addicts have to sleep sometime. What terrible timing. Left Bitcoin with a last update to short as price came back up to test the parallel and failed - which it did precisely - but failed to write the obvious next step...watch to see how it reacts at the low when re-tested...if it holds up close down shorts...that may seem obvious to experienced traders but could have destroyed a newbie. Apologies for that oversight. That double bottom overnight was so perfect too - but it took great trading instincts not to just close out shorts as the original low held up on the re-test - but to switch positions around from short to long - if you managed to do this you win outstanding trader of the day award, no contest. The last line of the update stated that Bitcoin had to regain 2750/5 and hold before vulnerability to bear attacks would wane. Since then Bitcoin has managed to regain that level, rallied to test the next listed resistance at 2805, come back to test 2755 from above and held and is now rallying from this level again as this is written. Once more a massive bear attack has failed to derail this train. But Bitcoin is still not out of the woods yet. It must hold 2750 at all costs now - any failure here will tip it back into bear territory and likely force it back to 2692-2686 range and should this fail back down to the overnight lows again. As things stand it looks like more sideways movement is likely in near term. Overhead resistance at 2805 and more at 2832 need to be overcome to open up the way for another re-test of the highs at 2930 (will have to break 2945 now to clear the way for more buyers to enter and push price on to new highs from here) - but it looks to have really slowed down again and buying power looks to be waning...Bitcoin is near term positive above 2750 and negative below here. Expect more sideways trade above 2750 and not much pressure on price above here - but if 2750 is lost it invites more bears back into the market. This level is the old high - and means everything to where Bitcoin goes from here. Whilst it can hold it Bitcoin is fine. But if it loses it again it's another short for day traders and the rest should stand back as another wave of selling should kick-in. Need to be very disciplined and emotion-free to trade Bitcoin right now. Newbies please stay away until the dust settles more.
BITSTAMP:BTCUSDLong
by sumastardon
1
NZDUSD Short coveredTalking Point: Technical Strategy: Bearish Elliottwave View: Bear count confirmed Analysis From our last December's analysis on NZDUSD (New Zealand dollar vs US dollar), nothing much changed. We are on bear trend count and able to break and trade outside corrective channel. We are considering as wave 2 wave and counting sub wave 3 for larger bear move. On shorter term wave cycle, we are considering bearish wave3 of 3 will continue and can target 6900 and below. We are now expecting channel breakout or some smaller correction in current price @ 6897. Action We are running short position @ 0.7035 and we closed our position here @ 6897 before we entered into vacation. To get more information on trade, please login into "Trade Signal" area. -- By Hoagtrading.com (Twitter: @Hoagtrading)
by Hittesh