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Update

CHFJPY Update and Short OpportunityCHFJPY reached our target at the resistance zone. Traders who viewed my previous idea on CHFJPY may have taken long positions and profited from it (see my idea below). Now that CHFJPY has reached the resistance zone, we can closely monitor price around the zone to look for our next opportunity. Price is currently moving along a supportive trendline, which could push price back into the resistance zone. The would mean a possible double top pattern forming, giving bears greater probabilities of a successful short. Beyond this, CHFJPY is forming a double top pattern on the daily timeframe as well, giving a good probability of an upcoming bearish move. Ideally, bears should wait for price to reach the resistance zone again and/or an impulsive break of the supportive trendline. A short position can then be opened with a stop loss above the resistance zone. Be sure to follow me for more ideas and analyses. Leave a comment with your thoughts below, all input is appreciated. Best of luck traders!
Short
by sharaafatm
Update on CHFJPY This is an update on my last analysis on CHFJPY. It took a bit of a while, but CHFJPY eventually made its way upwards. Those who took the trade can keep trailing their stop until we reach our target as the resistance zone. Those who have not entered earlier can look for entries along the supportive trendline with a target at the resistance zone. However, this is higher risk and presents lower risk to reward rations. Be cautious when entering and use proper risk management. Check out my previous CHFJPY analysis to understand why we went long on this trade. Be sure to follow me for more ideas analyses. Best of luck traders!
Long
by sharaafatm
EURUSD UpdateIn my last idea published, I spoke about looking to go long on EURUSD at the supportive trendline and yellow zone plotted on the chart. See my other post for a detailed breakdown of this setup. Price is now in this zone, presenting a possible inverse head and shoulders pattern and a bounce off of the supportive trendline. Ideally, traders should monitor price action in this zone, and make use of pending orders to get into a long position. A suitable area for a low-risk stop loss is a few pips below the yellow zone and supportive trendline. Be sure to follow me for more ideas and analyses. Leave a comment with your thoughts below. Best of luck traders!
Long
by sharaafatm
22/06/2020RSI in over extended territory, BBS well over extended. MFI showing alot of cash flowing in, though I have noticed that this indicator does and has shown high vo;ume with pumps in price. The MACD seems quite confused though is bullish and Stochs are showing overbought... I would be careful of this pump, I do believe this could very well be a fake out. It has bypassed multiple resistance and long term trend lines of resistance in a very short period of time (although I am using the 4 hour) but still, I would not FOMO in if not already in a trade, wait until things settle down a bit then decide what to do. Thanks!
BYBIT:BTCUSD.P
by Crypto_Jakk
15/06/2020At the time I charted this but never published, it was a possible bearish set up. Now I am publishing it, it seems more the likely option to play out. The purple trend lines drawn are weekly and daily S/R. The dotted white lines, more recently added to the chart and also S/R. The MA lines shown are: 21MA in red, 50MA in yellow, 100MA in purple and 200MA in white. This would be a longer term trade set-up with possible profit targets along the way in the event of a major drop as Bitcoin looks to more and more correlated with the stock market at the minute, which I fully expect to have a bad week ahead. I hope the chart explains itself but I have added the extra details needed to understand the expectations. Using this set-up, the targets pointed out on the MA's and S/R, could also be used for a bullish set-up trade, if taken as intended. NOT TRADING ADVICE AND DO YOUR OWN RESEARCH. Thanks!
BYBIT:BTCUSD.P
by Crypto_Jakk
13/06/2020Same chart as the last update but looking more and more likely to be a breakdown and a test of the lower levels of support, possibly the 200MA. If the institutions have their way, and let's face it, they are gaining more and more control over BTC and the market movements, I could see this go in the same direction as the traditional markets. As the institutions come in deeper and deeper from the stock market, they also bring their problems with them... Something NO Bitcoiner needs! I just hope we break this savage cycle and keep Bitcoin and cryptocurrency as the future of financial freedom, not just make these markets another object for the Big Money and Governmental institutions to manipulate as they please. A rant about the current eco crisis but off topic.. I am waiting for the close of tomorrow, or as it being the weekend, possibly CME open on Sunday/Monday, just to see if we have a gap to fill. I think next week will be the be all and tell all of the direction of where Bitcoin price is headed, although my bias is now again bearish . Thanks!
COINBASE:BTCUSD
by Crypto_Jakk
1
07/06/2020This is what I have charted today for the Daily. The red dotted lines show some resistance levels both above and below, obviously the R lines below have become support though I do still think they could be relevant in the coming days/weeks if Bitcoin fails to break or stay above them therefore they would then flip back to resistance. I had more longer term S/R lines drawn though at this point in time I don't think they are so relevant as to the price movement we are seeing now. The white lines go back to the ATH's and come from the lows to form a giant pennant. Within these lines, I have drawn some trend lines for my own personal use, but i you take note of the blue lines, we could possibly be forming a bull flag. I have this drawn very rustic though it does respect some major important trend lines and if drawn more precise, a more valid pattern would emerge. IMO, the market is very unpredictable, as Bitcoin always is, though I believe even more so given current news and events regarding the institutional buying of the asset. I think the opening of the stock market could very well have an impact on the price and where it goes from here, saying that, I do believe we are short term bullish and ready for either a breakout or at least another retest of the 10K mark. I hope this chart is easy to understand as I know my explainations are not lol, I try and draw what I see and hope that most can see the same. Thanks for your time.
COINBASE:BTCUSD
by Crypto_Jakk
07/06/2020Looks like sort of a head and shoulders pattern (purple), apologies, I can't seem to use the H/S tool correctly lol... but we seen a slow drop of a metaphorical cliff this morning when BTC dropped to the lower $9Ks which would have given us a good CME gap to the upside, though within an hour, BTC seems to have recovered from that drop and is back trading around the 9.7K mark, closing in on the $9800 CME close we had on Friday, closing the gap which we may see on the close tonight. Bear in mind, from personal experience, the last 30 minutes are extremely volatile when it comes to price movement so we could expect NO gap and Bitcoin even to rise higher again as the market is still looking very bullish. I have been watching this on the 1 hour TF as I think it shows it better but tonights weekly close/open will tell. That's all I have for now and I wish everyone well in their trading. PEACE!
BYBIT:BTCUSD.P
by Crypto_Jakk
02/06/2020UPDATE: #2 Like I said in my last chart, I fully expected a retracement from that huge pump to 10.4K, which was not organic movement. It looked like text book 'pump and dump', either by whales or exchanges. Pure manipulation in order to shake out orders and now this dump will have taken out alot more who FOMO'd in on the 10K break. $90 Million liquidated on BitMEX with the pump and I would only imagine the same if not more with this dump. We are still moving so it may not be over, although I think in my personal opinion, BTC could fluctuate around the 9.4/9.5K level before establishing a reasonable trading range within the $9500s mark. (Currently @ 16.30 UTC+1, we are almost lower 9300s) The MACD has flipped massively bearish and the RSI is sitting around the 17 level, signaling we are oversold so a small correction back to the upside would be totally possible. I would not rule out the possibility of heading back up upwards $9700-ish, but IMO a range averaging in and around the 9.5 mark is reasonable for the dump to be corrective. I hope no one got REKT, nor lost money on this dump as it was kind of obvious to me that the pump happened too fast to be natural, classic pump and dump IMO, which is why I had a short placed when it settled down. This market IS VERY VOLATILE, and will continue to be I believe, unless traders sit this out and wait. If you are unsure, as it seems this movement has caught everyone by surprise and technical analysis could not have predicted this at all, then DO NOT TRADE just yet. I would warn anyone who is trading this market now to be very careful and do NOT forget to manage your risk. Thanks guys, I enjoyed the engagement on my last chart. Very enlightening and interesting.
BYBIT:BTCUSD.P
by Crypto_Jakk
3
20/05/2020In my previous chart I had shown a flag formation coming from a bullish market. I mentioned I would draw it as a pennant and today an unexpected dump broke it down a few hundred dollars and volatility was going crazy for about an hour or so before settling around the 9500s. This chart may be a little premature but it shows another possible flag formation. We are currently still above the Ichi cloud but the RSI is in netural territory. The 50MA is crossing the 200MA and BTC seems to have been riding the 20MA i believe since May 10th. The MACD histogram is converging bearish with the MACD signal and price line high above the histogram. The market is very unpredictable IMO but there is room for another drop but on the other side there is still room for a climb back up to test the 10K resistance again. The more times we test a S/R line the less likely we are to break it, if we test 2 or 3 times we should expect a break. Any more than 3 times I question why we are struggling to break this line. This is where market sentiment comes in and you need to gauge the strength of the bulls and bears, it was looking like the bears were getting exausted and the 10K level would be broken but after that drop today, it will be a slow climb back to where we were previously IMO. Apologies for the explaination but I hope you can see where I am coming from. Thanks!
BYBIT:BTCUSD.P
by Crypto_Jakk
GBPCHF top-down analysison DAILY: GBPCHF is sitting around a strong support zone in red so we will be looking for objective buy setups on lower timeframes. Unless price breaks aggressively below our red zone, then a bearish movement till the all-time-low would be expected. on H1: price formed an objective trendline in blue, and we have an inverse head and shoulders forming. we are waiting for the right shoulder to form and then buy after a candle close above our neckline. or we are waiting for an objective break above our blue trendline to buy. we also have divergence on MACD adding more confluence to our buy setup. meanwhile, this pair is overall bearish.
Long
by TheSignalyst
19/05/202012hr. Also works zoomed in on all lower TF's and HTF's. Shows a lead up in a bullish market structure into what could possibly be a flag, pennant formation. If this is the case, it would be ready to break in the same direction as the lead up and be bullish. This is not for certain although I thought it relevant to post as I had firstly spotted it on the 1hr chart when I zoomed out, then confirmed on other time frames and looks like a bull flag. Feel free to correct me if I am wrong. We seem to have tested the top more than 3 times, with each pull back smaller than the previous (1hr zoom). The more we test the top, the less likely we are to break it, although the pull back getting weaker indicates the bearish streangth is weakening and we could be in for another test and possible break to the upside.
BYBIT:BTCUSD.P
by Crypto_Jakk
1