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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
Bitcoin still have the momentum, to 4400, or 5000? Hello Cryptocurrency Enthusiast, Bitcoin still have the momentum, hopefully it will touch 4400, or even higher 4800? The chart is self-explanatory. As you can see, Bitcoin is moving on an ascending wedge and a very steep rising trend line with contracting volume on Bitfinex, which means the bullish run is out of gas. While, please remember the crypto-market remains under bears control. What will happen in the following days? We have two critical levels of resistance up ahead: 1, Target One: 4400 - 4600 . 60% probability, Bitcoin might touch this area and then reverse down. 2, Target Two: 4800 - 5000. 40% probability, Bitcoin have a slim chance to move into this strong resistance area and come down. I will be following those TOP clues and keep you guys posted. Please follow me! ; ) Tips: How can we identify the TOP? 1, We will see enlarging trading volume on the TOP candlesstick with typical TOP Patterns. 2, Oscillator indicators might be helpful to identify TOP, such as RSI/MFL etc. Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts! I will be going more in depth into this analysis if it receives sufficient attention. Happy Holidays Everyone! PainKiller.
BITMEX:BTCUSD.PLong
by PainKillers756
2
A quick short to 3.6k or so after diamond top appears.we have been forming a diamond top on the 2hr chart. The last break upward to 4.1k was assisted by a 2hr chart golden cross, but now that same timeframe is forming a diamond top with the trendlines following the candle bodies...there is a slightly more obtuse diamond top on the 4hr chart that can be connected by wicks....if the diamond top by candle bodies is the more valid pattern we will dip to at least 3.7k and if the diamond top charted by the wicks is more valid then we may dip to 3.6k or so....3.6k would make for an excellent top of the right shoulder for our currently speculative 1 day chart inverted head and shoulder pattern.....the projected top of the right shoulder seems like it will likely coincide with a golden cross on the 4hr chart but the inverted head and shoulder is currently still a speculative pattern only but still one worth keeping an eye on.
BITMEX:BTCUSD.PShort
by DrDovetail
1
S&P 500 TopI believe that it is possible to beat the market through a consistent and unemotional approach. This is primarily achieved through preparing instead of reacting. Click here to learn more about how I use the indicators below and Click here to get my complete trading strategy! Please be advised that I swing trade and will often hold onto a position for > 1 month. What you do with your $ is your business, what I do with my $ is my business. I am calling a top in the S&P 500 and the charts pretty much speak for themselves. What is most important to me is the death cross with the 50 & 200 day MA’s along with the 200 flattening out after a multi year trend. I am also viewing the current range as a Wyckoff Distribution pattern. From here I would expect a breakdown of the ice line or one last dead cat bounce to retest the middle of the trading range at $2,700 - $2,725. The 50 day MA also happens to be waiting in that area and if that does get retested then it would provide a high probability short sale entry. Same goes if we get a daily close below the ice line. When we zoom out to the weekly the picture does not get any prettier, in fact it provides very important confirmation. We broke down the 3 year bull trend line and promptly turned it into resistance. The 22 week MA has rolled down, with the price below it, for the first time since the last presidential election. This week also just closed a bearish engulfing candle. According to Thomas Bulkowski: “the bearish engulfing candlestick serves as a bearish reversal in 79% of the 20,000 examples that I studied.”(1) I have been fully out of my S&P longs for over a month and now I’m fully entered into shorts. That is due to the price closeing below the 4, 9, 50 & 200 MA’s on the daily combined with a death cross with the 50 & 200 along with a bearish crossover with the 3 & 9 MA’s. This is confirmed with the weekly closing below the 4, 8 & 22 MA’s with bearish crossovers across the board. If you would like to learn how to use moving averages more effectively then I would strongly recommend subscribing to Tyler Jenks Hyperwave youtube channel and starting with the following video. www.youtube.com (1) thepatternsite.com
FOREXCOM:SPX500Short
by Sawcruhteez
AMD Stock: Inverted V Top at Strong SupportAdvanced Micro Devices has a huge V Top formation that is now hovering above the support level of the sideways range from 2017. The Top is a Severe Inverted V Top created by irrational exuberance from a speculative buying frenzy that was not supported by the company’s fundamentals. AMD stock has peeled off about 50% of its value, which is the typical level at which technical patterns and fundamental values for 2019 coalesce. There may be another sell short run, but this stock now has higher risk for selling short against the potential net run down gains possible. The support from 2017 is strong support. However, many stocks will dig deep into this level of support before any Dark Pool automated orders begin triggering to create bottoms.
NASDAQ:AMD
by MarthaStokesCMT-TechniTrader
MCHP: Semiconductor Stock Topped, Now Look for Strong SupportMicrochip Technologies stock, in the Semiconductor Industry, has a top that completed in early September, seen best on the weekly chart. This is a common top right now. I see it in many topping stocks. The trading range breaks to the downside, usually on company news. The question now is WHERE will it find sufficient support to commence a bottom? The answer lies within the technical and fundamental support levels. The stock is in a bounce to rebound price action over the past couple of weeks. This is not at a strong support level. The support for MCHP stock for a final low is the highs of 2016. This also coincides nicely with the typical bottoming location based on the percentage of loss from the all-time high. About a 50% loss is where many stocks are currently finding support and where some Dark Pool Buy Zones are beginning. These Buy Zones are at the earliest of stages and are not fully developed yet. This provides 2 important analyses for trading decisions: 1. Where you need to cease selling short entirely. 2. Where you need to start watching for a bottoming Dark Pool Buy Zone formation. When you learn to do this type of analysis during a bear market, particularly a trading range bear, then you will be far ahead of the crowd. Keep in mind that many stocks WILL dig deeply into the highs of the 2016 support levels. The highs are just where you need to stop selling short. It is not necessarily the final, final destination of the stock price before a bottom commences.
NASDAQ:MCHP
by MarthaStokesCMT-TechniTrader
BCHSV Binance Target Reached + Elliot Wave and moreIt has been impossible to update my ideas trough snapshots, which was ideally for me, but Last night I did a trade that I think it is worth to share BINANCE:BCHSVUSDT I have been following the crash of BTC, Alt-coins and BCHSV during this couple of week, I applied Elliott Waves Theory to have a better understanding of the big picture of the market. Im not an expert but recently I have been dedicated to learn Elliot Theory and this was the out come. Trading plan: - Entry: 40.15-41.55 (Corrective Wave 2) Stop Loss: 36.50 (Under 1rst Impulsive Wave ((1)) Take Profit: 63.8 ( in My opinion It has over extended but I happy with the outcome of the trade, not feeling that I miss out an opportunity) AS everyone know BCHSV has been making double red digits during all the week, It was quite interesting, because even tho it was nasty to HOLD a bag of BCHSCV, However, it was very profitable to do trades under 5 min time frames, swings could vary between 2 to 7 %. It was very risky so you needed to have a good plan and understand when you should be getting out, mean know what are you doing. (I dont recommend it unless you are confident of your trading skills in that case go for it mate) Timing the bottom (Price 37.50): Timing the bottom it is always hard and not recommended, but since I have been trading this asset from Birth and I been having the time to familiarize with it. We have a Massive drop on BCHSV at 140 per coin to 51 per coin, It happened because it couldn't managed to break resistance Also we had a bearish divergence and not to Mention BTC was crashing, All this translate in a major down momentum by this time I didn't know that we were dealing with a 3rd Elliott Wave, which is the strongest and longest . During this time I was waiting in the sidelines, and I would jump in and out if i see an opportunity. I took this chance to learn Elliott Waves and knowing that we are in a wave 3 give me the perspective and advantage to precisely time the bottom using Elliot theory and Fibonacci retracement Tool. I Got as FINAL target for wave 5, 38 per coin, funny tho, I bought at 38.50 and I did panic sell at around 37.85! And then and ended up buying at the Entry previously mentioned. If I used chart pattern techniques i probably would miss out this entries, I couldn't see a well define double bottom which is one of my favorites chart patterns, Yes we broke a major trend line but that does not mean that we bottom yet, you would need some sort of confirmation, however with Elliot wave + Fibonacci + Chart pattern and Candle Sticks formation. I could get a nice entry even tho I panic at the beginning. Guys Trust your trading plans. Another quite interesting Pattern that I notice when I was counting Elliott wave for BTC was that every time we get a Double Bottom Pattern Elliott waves tend to change from corrective to impulsive waves (from 3 to 5) and it makes the whole sense now that i know but before it was quite a revelation. Another Signal that I personally like to use to time the Bottom and tops was the Bullish and Bearish divergence, It shown as a yellow line, you can see that even tho we broke a new lows RSI did not follow to new lows and it same happen at what I considered Wave 5.
B
by vfxvictor
8
Dow Likely Entering Bear Market: Broadening Top; Bear Flag Ominous portents. Broadening top in September led to the microcrash in October and US Equities have been struggling since. November usually one of the best months for stocks, has only been a down month in 3 years of past 20; those were in Bear Markets... Some very fine textbook chart formations appearing over past few months. The Zig-Zag Correction has led to what appears to be the end of the Great Bull. Fed will hike again next month and if they hike twice more we will get a recession starting in 2019. Earnings have already passed their halcyon days, look at Apple and NVidia, IBM and many other issues already entering bear markets. The power to drive this market to new heights has leaked out of the balloon, I'm afraid. Spent a weekend reading Murphy's Technical Analysis of Financial Markets, Chapter 6: Continuation Patterns is a lovely read, quoted for your reading pleasure: "The Broadening Formation is an unusual variation of the triangle and is relatively rare.... looks like an expanding triangle... also called a 'Megaphone Top.' In other triangular patterns, the volume tends to diminish as the swings grow narrower; in the broadening formation, volume tends to expand along with wider price swings. This situation represents a market that is out of control and unusually emotional. Because this pattern also represents an unusual amount of public participation, it most often occurs at major market tops. The expanding pattern, therefore, is usually a bearish formation. It generally appears near the end of a major bull market." -Murphy, 1999 Revised Ed., pages 140-141. "The flag and pennant represent brief pauses in a dynamic market move. One requirement... is they be preceded by a sharp, almost straight-line move. They represent pauses in which that market 'catches its breath' before running off in the same direction. Flags and pennants are among the most reliable continuation patterns and only rarely produce a trend reversal. ...Flags and pennants are said to 'fly at half-mast' from a 'flagpole,' as they appear at the midpoint of a major move. Pennants and flags on downtrends are completed very quickly, often in only 1-2 weeks, after which the breaking of the lower trendline in the pennant signals the resumption of the downtrend. The break down will take place on heavy volume, and the magnitude of the move is estimated by measuring the vertical distance of the preceding move from the breakout point of the pennant . Flags are small parallelograms that slope against the prevailing trend. Pennants resemble small horizontal symmetrical triangles." -Murphy, 1999 Revised Ed., pages 141-145. Well, this flag started flying on 14 Nov, I reckon it might snap off after the holiday week, maybe sooner, who knows? Expect it to fly a bit higher, to form a right shoulder which might be expected to occur around 25600 on Dow. We saw 25500 very briefly Friday on Trumptweet, another such tweet could top off the flag. Good luck! As always this is an educational post for your amusement and does not constitute investment advice; trade at your own risk!
DJ:DJI
by DaddySawbucks
11
NVDA: Earnings Stock of the DayThis big technology stock reports its earnings today AFTER the market closes. Sometimes the after-market reports are not great reports. On the weekly chart, NVDA shows one of the new tops taught in TechniTrader’s Definitive Guide to Market Corrections course. This is a Sheer Cliff top which is a sudden collapse of price after a trading-range sideways pattern of several months. The decline has been very steep and fast. It is resting at weak support. You can see from Accum/Dist that this stock has been in heavy rotation mode by the Dark Pools since 2017. The stock moved up on buybacks and speculation by smaller lots against the heavy rotation by the Dark Pools.
NASDAQ:NVDA
by MarthaStokesCMT-TechniTrader