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BTCUSD: Be careful.Bitcoin shows a very choppy, non-trending market situation right now. It could go both ways: Bullish Scenario: Current market could be a wave 4 Elliott Wave correction and it will PUMP soon. Bearish Scenario: A Tenkansen / Kijunsen crossover is observed which is a strong bearish signal according to the Ichimoku technical analysis and the price will drop lower. Suggestion: lower your position size and just wait for a breakout / confirmation in the direction. No need to take risks and lose money, be patient.
by Cryptonerds
2
How to trade Cup & Handle Pattern | C&H Tuturial with ExampleCup and Handle Chart Pattern Tutorial with Example below ! Stay Tuned ! In the next educational post i will write about psychology of trading Chart Patterns and strategy of How to successfully trade few chart patterns in detail. Cup & Handle : Cup & Handle Pattern can be seen both as a bullish continuation or bullish reversal pattern. A bullish continuation C&H pattern forms when there is a preceding uptrend followed by consolidation period in the shape of a Cup and a Handle look pattern and then the uptrend continues after breakout. On the other hand, a trend reversal Cup & Handle pattern forms after a preceding downtrend, then after completition of the pattern the trend reverses after a successful breakout. Inverted Cup & Handle Pattern : Inverted Cup & Handle Pattern is the opposite of C&H pattern, Inverted C&H pattern is a bearish continuation or a bearish reversal pattern. A bearish continuation C&H pattern forms when there is already a preceding downtrend and after a Inverted Cup & Handle pattern is formed followed by a breakout the bear trend continues. On the other hand, a bearish reversal Inverted Cup & Handle Pattern forms after a preceding uptrend, then after completion of the pattern the trend turns to a bearish trend from a bullish trend after a successful breakout of the pattern. (In the Above they are Trend continuation Cup & Handle and Inverted Cup & Handle Patterns and below are the Trend Reversal C&H and Inverted C&H Patterns) The Cup & Handle Pattern can be form in any timeframe from few minutes to hours, daily or weekly and even monthly candle charts. The price targets are measured from the verticeal distance from the bottom to the high of the Cup looked shape then this distance projected from the breakout point. Like all the chart pattern you need to confirm the breakout with Volume Indicator. Sometimes in a cup & handle pattern, only the cup shape forms and do not form the handle shape or we can say it rounded bottom or rounded top for Inverted C&H pattern. Stay Tuned; 👍 Like this tutorial & share your comment below and also check other tutorials with example linked below; Thank You-
Education
by tapasdhanadana
11
ETH/USD LONG - Up to 176$ (and maybe more)Hey everyone! A fresh trading year start of 2020 deserves a spot on call and I think ETHUSD has given us what we were looking for. First off, a great Risk-Reward-Ratio (RRR) with a great compliance with the Point of Control (POC) of the Volume Profile. Didn't even apply Fibs to this one as it looks primed, ready to attack - like a snake - for a further move up. Had to publish this ASAP and I'm writing this description later as the breakout could occur at any moment. With that being said, given that I felt a sudden rush in writing this to you, the call could be premeditated which leads to this pattern failing and another pattern appearing that then performs to target. In either case, you've been warned :) Take care, Vlad the Crypto Trader
BITFINEX:ETHUSDLong
by Be_Independent_Tribe