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TRAP

BTC in spike and channel formation: Pullback ahead?The end of the downtrend? Well, maybe not yet, but we see a spike and channel formation. How to trade this formation? The sharp drop from 11.000 to 9.900 is the spike on the 30m chart. At the end of this movement you could see a downtrend channel, but that channel was quickly broken when BTC made two nearly equal legs up to 10.500. This is not a place to go long, just the opposite! Prices were rejected by the EMA and quickly dropped to a new low around 9.800. We see typical price action in a strong downtrend, because it creates a trap at 10.500 for longs and one for shorts at 9.800. Now we can draw a broader range, which is a slightly downwards pointing channel. This was confirmed when prices bounced above the EMA. Now a lot of people would call this a double bottom or a head and shoulder reversal formation, looking to the upside when prices broke above 10.360. And this is were the next bull trap happened! What the trap looked like? After the break of the prior up move from 9.800 to 10.350 we got a pullback to the EMA and two small pushes up above the resistance at 10.350. Just to our upper range/channel line! By following price action rules you would have switched to range trading mode : Keep watching those upper areas and still look for shorts. The upper channel line was confirmed several more times after that, and two more short entries could be found at these key entry points. At the second entry the momentum to the downside picked up and prices went straight to the lower side of the channel and beyond. But why beyond? Think about equal legs: The first leg was the spike, the target for another down move is the equal length second leg. It has reached that target at 9250 to the tick ;) Markets like to create symmetric moves and second legs, second entries...good stuff :) So, what about that pullback from here? The downtrend has played out well, therefore i would expect a pullback from here to at least 9.700 (resistance). The broader channel could still be in play, because often there are fake breakout. If BTC moves back in the channel we might see 10k again.
BITFINEX:BTCUSDLong
by FBlocktrader
After Bull trap: Short term downtrend continuesThe perfect bull trap occurred in BTC: After several hours of sideways movement in a tight range of 150 points, BTC broke the short term downtrend channel, and pushed higher. This was followed by a pullback and another move up which just made a new high 11.970. At this point many traders might go long, since we had several "confirmations" of a new imminent upmove. But when it turns down right away and breaks strong support at 11700 the bull trap had forced many longs out of their positions, if they had stops below that support. How to trade the trap then? If you see the trap beginning, that would be the bearish candle from 11.970 below 11.900, you could go short below 11.900. What is happening now? New Short entry ahead? Bitcoin has made nearly two legs down inside the short term downtrend channel. If prices move up to 11.550, right back to the upper trendline, we might get another push down to 11.100.
BITFINEX:BTCUSDShort
by FBlocktrader
AUDJPY DANGER AHEADAUDJPY To open LONG positions for AUDJPY, it is required: In this situation our system indicators to confirm trade entry confirmation for movement to the upside but if the market continues to range then signal will become invalid. Market execution for entry, I will confirm signal once the conditions have been met. Trading method: RSADVANTAGE Stage 5, accurate system manually forward tested over 3 years designed to stay out of ranging markets and only target strong trends suited for swing trading. This system is made of custom adaptive volume indicators and Oscillators that properly detect trends very early and provides exit signals at dynamic S/R zones once the trend has ended. // Average yearly pips gained is 40k per pair on D1 charts alone. I have provided a similar limited version of the system on Trading view to help traders visualize the strategy.
Long
by UnknownUnicorn1372988
XMR - Potential Massive Bear Trap! (LONG)XMR has been on a bull trend for almost a week now, but we've seemingly broken that bull trend. However, I personally believe that this will act as a pretty massive bear trap for panic-sellers as we're still well above the support of the new region we've broken into. NOTE: This is not financial or trading advice. Please take everything you see here with a grain of salt, and make informed decisions when deciding whether to commit yourself to a position or not.
BITFINEX:XMRUSDLong
by yeeyee2020
Trying to align with Haejin's thinkingSo, I was quite successful with my XRP newbie charting back then. From this another newbie chart, I try to see where's the exact wave v of the BTC correction. It seems that, tomorrow would be the time, based on the volume oscillation, and sine wave analysis of the RSI. Psychological: people expect bullish trend, but trapped into wave v correction as haejin predicted, BTC down to new low, but not as much as 8-10K, a bit around 11-12K again.. then people would go into panic sell, and whales take opportunity to propel new ATH. Again, take it with a grain of salt. This is very experimental.
BITSTAMP:BTCUSDShort
by korganos
4
Bitcoin is trapped between greed and disappointment.www.tradingview.com Hi guys, On the H4 chart we cn see two initiative candlesticks. The first one from the top marks the cancelation of SegWit 2x, the second one from the bottom - the price level meeting at the profile volume level, when many players came out defending their interest. Now we have to retest the upper profile volume to see if the news about SegWit's abolition was really that bad? If so, then after the retest in the area of 7200 we will go down. If not, we will update the highs. In any case - the nearest landmark is understandable. It's 7200 next week. P.S. This review was made yesterday, but couldn't be published due to some technical issues. It is still relevant today. It is yesterday's snapshot.
BITSTAMP:BTCUSD
by VadiqueMagenta
3
BTC Trap?I updated my last BTC analysis and recognized a possible shoulder - head - shoulder constellation (in german: Schulter - Kopf - Schulter). If, yes if, the price rises only to 5.900 or so and falls back to my triangle (see graphic). In that case it would be a negative sign and BTC could continue its decline as mentioned in my last post. Interesting also the time cycles. Every 7 days there is a distinctive change in the trend. And the next cycle begins just at the moment where I see the possible right shoulder. I drew the cycles in coordination with older events - not the current!
BITFINEX:BTCUSDShort
by Luettis
USDJPY - Bear trap long before more down?USDJPY came under some pressure on Friday. There may be more downside, but right now bears should beware. just below the swing low around 111.500 we have a spike base/demand zone. if we break below this level and demand is still there + shorts start taking some profits, we may get a nice pop higher. As always, will wait for price action after the break. A touch of the 200% extension and an hourly close back above the 111.500 area along with that area once again providing support will have me checking the 5min/1min charts for some long scalps before re-assessing. I like to look for situations that can potentially catch people out ( like Bear Traps/Bull traps ). When this happens, the flow can change quickly and nice, fast moves can happen. I like to assess hourly charts for key zones like this, and then trade the shorter time frames to exploit the flow.
Long
by sebastiaan7676
Beware of a possible "bulls trap" ahead!Suddenly we're now above the major resistance of 0.7385. At least to me this was quite unexpected, since I somehow fixed my mind on a possible move to the downside. But I should have been more careful and should have noticed these two things: 1. Momentum indicators were clearly pointing higher. 2. Gold price made a new high, which is important for Australian economy and for its currency as a consequence. Still I do believe this bullish move is about to end soon and bring reversal. Here's why: 1. The RBA sees its "ideal rate" at around 0.65. 2. There is a room to the downside: we have a trend line starting back at 2001 to support the price once it gets there. 3. From technical perspective, to call this move an uptrend, we still need to see a move down, which will not be able to go pass the previous lows at around 0.68 and then a move back through current highs. In other words, we need to be able to properly draw an uptrend line. And we are not able to do so quite yet. 4. I'm bullish on U.S. Dollar in the long term. Whatever Fed tells us on March 17 – it has to be positive for American currency. This leaves us with a possibility for a larger reversal of all major currencies versus U.S. Dollar, as well as Gold and Oil, in the next couple of weeks. So buy for the short-term, if you want to, but keep a possibility of a reversal in mind. -- Everything I write about - I buy and sell for myself and my Investors. Please hit LIKE button if you find this analysis useful, so as I know you do. Please FOLLOW ME here on TradingView to see what I see, when I see it. You can also JOIN ME on LinkedIn , Facebook and VKontakte . Vladimir Vereshchak | Making People Wealthier!
Short
by UnknownUnicorn135402
EURJPY potential bull trap over 2 weeks highSpotted a h1 hns chart pattern and with macd divergence. I am interested to see if the pattern will be completed or not , if neckline closes or not. If ti closes , then a flush of 2 weeks high will be done. What may be against this trade will be the 2 hammers on w1 , but should price do a strong bearish close, It will herald a new wave of bearish move upon smashing the weekly descending triangle neckline. my TPs as shown, the levels on d1 line chart pivot. For a better ( but riskier) entry , I may choose to see a test on h1 near the suspected right shoulder and get and entry there, SL for about 40 pips for 120 pips. If not, then closure below neckline for more confirmation. I will relate this trade setup with my bearish bias on Nikkei
Short
by nakedchartist
6