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TOP-6

OIL hitting resistance with double topOil has made a huge rally past months, without any corrections. I did not touch it for a while, but think we have a good chance this time to short it. More factors in favor now for the first time in a while. The double top is something i saw yesterday, so unfortunately the entry is less great now, since it's already at the neckline of the double top. But that doesn't matter that much. For me this will be a swing trade and we have a good tight stop for this one, which is the high of the double top around 64.8/65. At the moment it looks like a flag at support, which is usually a very good sign. So i will try to short half at top of that flag on the right and the other half when support breaks of the neckline. First target will be around 60ish, don't know yet if more is possible. Previous analysis:
TVC:USOIL
by botje11
13
UK100 Double Top On the UK100 1hr chart we can see a double top. I must say that this trade is for educational purposes since I don't spot this pattern that much. The RSI, Volume and Price is lower at the second top which means the interest is cooling down. The stop is placed at the last high or if you trade safe a little above. To get better at spotting this patterns I'm publishing it here so you and I can both look back at this trade the next time spotting this pattern. Thanks for reading and especially on this one I would appreciate some feedback! Wesley
FX:UK100Short
by W4DL
Are you paying attention ?It can be a challenge comparing the timeframes of two bubbles in TA, when one runs over the course of 10 years vs 2 years. Yet i believe a striking correlation playing out here between two completely different markets in it's own timeframe. As always, both bubbles is naturally fuelled by the same greed and stupidity that is coded into our human DNA . We don’t mean to get ourself in trouble by creating bubbles, but we just can't help it. It’s what makes us human. It’s the same reason we can be so certain that the next phase must begin. What im saying is nothing new under the sun. You can go back in history and study these cycles playing out over and over. It always comes down to two human components. Immense greed and extreme fear, resolving in its own way. Like Ying and Yang, a balance is always kept. It might temporary bend further to the up or downside but the ledger is always kept in check and unbalanced profits will be resolved with unbalanced losses. There’s nothing inherently evil about a bull market coming to an end, however history tells us pain and fear is two cousins that few remember at this point in the market cycle. Drawing correlation to the Bitcoin bubble in 2017, every retail investor was a genius and money was to be made whatever u did, as long as u bought - Did u get that last part? As long as u bought. Because bubble tops paints its own beautiful story, which we can use to our advantage if we pay attention. The signs are always there, and im simply hinting the strong probability of human faults once again painted on the charts. For the retail investor which has been genius for years in Nasdaq, DJI or whatever he bought, the next phase won’t be as quite as easy.Conditioned by 10 years of buying the dip, the retail investor will slowly but surely bleed out in the bear market. As they continuously buy the dip, but never secure profits on the bounces, slowly but surely, most will lose their profits from the bull years as the balance is restored to the ledger. That’s what makes it the bear market. Let’s see just how many skeletons we have in the closet for this bear cycle. I bet there’s some intersting stuff from 2008 that was swept under the carpet which will come out and play. It'll probably get very ugly. Bull markets often extend way beyond expectations. The following cycle tend to do the same. Best of luck Short all bounces.
DJ:DJIShort
by KTAS
1
BTC finally surpasses 1day50ma…but finds a potential double top Finally breaking above the 1 day 50ma with authority was a great bullish sign up until the price action reached the double top point. As soon as price action retreated right at the double top point exactly it gave a great opportunity for the bears to shove the price action back downward. It may be a good risk reward zone her to exit my position and set a stop buy up just above the double top zone. If I were to wait for a little while for a bounce I would definitely wanna exit if I see the price action fail to close above the 1 day 50 ma for 2 consecutive day candles. Just as I wouldn't wanna get too excited about being above the 1 day 50ma until we have closed at least 2 1 day candles above it as well. This idea will remain neutral but I will be keeping a very close eye out for any sort of confluence that validates the potential double top that we have shown here on this chart on the frosted pink horizontal trend line. If we can form a higher high here above the frosted pink trendline I will definitely be siding more with the bulls. Thanks for reading! *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
Next week scenario DEU30! Still bearish!?Hi Guys! As we see on this chart, my previous scenario didn't quite play out... But I still think we are topping out or already topped out in these areas around 1310. I see this scenario for next week. I am in a short position with a tight stop loss now and waiting for the lower gap to close. That area would be my target nr.1 Following targets also seen in this chart. I also see a potential head & shoulders formation, which will bring us lower next week. RSI on 4 h still has room to the upside but all other lower time frames are almost in the oversold areas. If you draw a trend line on RSI this could be also a top out here. MacD though still showing some upside potential. Let's see... Happy and safe trading! *This is not financial advice, this is only an idea. Do your own research and act on your responsibility.
TVC:DEU40
by SWINGPROFESSOR
Impressive btc bullbreak finally reaches top trendline of wedge.The bullish fundamental news of Abra's crypto/stockpairings coupled with the powerful support of the weekly 200ma and the fact that we found support on the bottom trendline of the wedge before that have all factored into todays huge surge and return to the top trendline of the wedge(in green). Had I been paying attention today I would have definitely had a limit sell set up right below the top trendline of the wedge. However prior obligations allowed me to miss the action and now its best for me to wait and see if a bull flag is formed here...there's also a chance we could retest the trendline and if so I may limit sell at that point and place a stop buy about 3 and a half pips above the trendline as the risk to reward ratio will be good however I may just wait to see whether or not the bull flag confirms a bart or not instead at this point. maybe a small percentage on both....this far above the 4hour sell line I'm only willing to put up a small percentage and find it wiser to buy the dips whenever you close more than 5 4hour candles above the 4hr buy sell line and 3 or more above the 1 day buy sell line(50 simple moving average).
BITSTAMP:BTCUSD
by DrDovetail
FTSE MIB: Mid term short The trend of the Italian index on both monthly and weekly rates is strongly bearish: starting in May 2018, this series of sales does not seem to be finished yet from a technical and fundamental point of view. At the moment the price, in line with all the main world markets, seems to be recovering after having rebounded on the level of 18000 points and should retest the resistance placed in the area 19300 points with a possible but unlikely extension up to 19500. From this area there should be a series of short orders that will return the FTSE MIB to 18500/18000 points in a few sessions, except for changes in the political and economic scenario or the monetary policy of the European Central Bank. In any case, we will wait for the 19300 points before placing a short order. Join us for further analysis on: Web : www.bfcminvest.com Instagram : www.instagram.com Telegram : t.me Facebook Page : www.facebook.com
FShort
by BFCMInvest