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Bitcoin: BTCUSD Update and stops for longsLatest Update 21.30 GMT We can by on a break of the dynamic holding back price off the highs - stop below the line...hope for a good clean break with enough powwer to break above the highs...if you go long just be careful at the highs....great if we see green candles beat it there...if it stutters and halts close down for small win and go again if and when the line is beaten Hope you were not put off by the messing all over the line after it was broken...look at the pin bar of desire/greed off the line? You could SEE this was beinning to look good here after 20 minutes of thrashing around ABOVE the line...a really good thorough test and it survived, no problem. You KNOW that price is irrelevant now, but it's still there in the back of your mind making you hesitiate. Forget everything you thought you knew about price. This is Bitcoin. It does not apply. Everywhere else in the investment universe price matters. Just not here. Only patterns matter here. Follow your chart or follow your heart. You must decide. It stays good whilst within the parallels. so stops just under lower line rising dynamically as the parallels rise above it.
BITSTAMP:BTCUSDLong
by sumastardon
1
BCHUSD Back in neutral with bearish undertone under 1539BCHUSD Back in Neutral but with bearish undertone whilst 1539 cannot be beaten This has been a minefield to trade over the last few hours. Longs bought at 1461 got blown away with stops at 1450 and shorts from the same point have also been whipsawed out for another 10 point or so loss. A complete mess. The big green bear engulfing candle shows a lot of interest but the pin bars at the top and bottom still signify uncertainty. The way it's now backing and filling down the same big green candle is mildly bullish, though. To stay that way it now has to hold up at 1516-1504 and then start to push up into the dynamics/parallels above it. Only once it can break above the parallels will BCH break free of this continuation pattern. But it cannot be shorted whilst 1516-1504 cntinues to hold up declines. For a short to have a chance of winning now 1500 must give way which would likely lead to a fast test of 1461 again at least (safest part of this trade) and quite likely to the lower parallel before it bounces again. As with BTG right now this is near term neutral above 1516-1504 and yet still negative whilst unable to break above 1539 and hold up there. It's more a sell off the centre parallel than a buy but needs to break below 1516-1504 for a quick short - or it holds up here and makes an attempt to break the parallels above it. It remains in a weak technical position whilst trapped below 1539 so stops on any shorts need to be placed above here.
B
by sumastardon
2
EURUSD Continuation pattern under the necklineEURUSD Friday Update Although now flat on all pairs escept USDJPY, still believe EUR is going to weaken, just not convinced there's enough impetus right now to force it back lower into new lows with any real power behind it. It's either going to fail here, as it's back testing the neckline of the head and shoulders looming above it - high in London at 1.1671, so if you're still short from 1.1648-1.1665 with stop 15 points higher at 1.1680 it hasn't been hit yet and it probably will come off from here so it's Ok to short with same stops as above, at 1.1680 but only for 40 pips or so back to 1.1613 - then look to close out as it will likely rally again from around here (Unless you catch this short from the neckline at 1.1665 risk reward ratios are not worth chasing for these few pips - 2 to 1 shots are hardly worth the risk, imo, but you may be OK with that) ...we then need to see it trade 15 pips lower, to 1.1598 to trigger a new short, looking to get in on the next minor pull-back for a move down to 1.1482 initially. The other point where we can expect a reversal for EUR, if not from here, will be off the upper parallel and will require the following price action to become reality: Eur will have to break above the neckline at 1.1665, then bust the stop 15 pips higher. Time, then to switch into longs for a move up to the parallel where will look to go short once more. So far price action on this pair all week has been a continuation pattern under the neck-line, suggesting further weakness for EUR soon - but annoyingly the pattern can play out a while longer and this period of range trading within the range set out for the week so far could well persist for a day or two more - OK for day traders but no help for swingers... for them we need to see a break out of this week's range, as outlined above. Too long writing this...in the time it's taken EUR has already fallen 16 pips...too much waffle! But am out this afternoon Uk time so have tried to cover every eventuality I can see - too much information though. Will try to paraphrase in future
Short
by sumastardon
UA (Under Armour INC) Long poHi everyone! This is my first idea of trading on USA stock market. The idea is for a Long position on UA (Under Amour Inc). WHY?: 1) We have a big gap to close 2) This looks like a copy of chart from end of may 2016, We`re in second wave down to around 29.20, where I want to get in, with Stop Loss around 28.90, but It will depend on day low. 3) We`re oversold on RSI, and Its start go UP, near to support on RSI 37.26 4) MACD (4;9;3) signal line and price line cross my resistance line. Now resistance will become support, and lines will test it in few days. 5) MACD (12;26;9) signal line and price line going to cross my resistance line. As soon as It will happen, We`re about to open our LONG position. Will write some more info on that idea later.
NYSE:UALong
by aleksandr.lascenko