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When rebuy NLG? The answer is inside.Hey guys! I have made a lot of analyses on NLGBTC which showed the upside potential, however, none of them came out to be right. But then again, I have also given a clear stoploss! If you would had followed my idea, you would hadlost 10%, but you will now be able to buy 30% more NLG! But wait... Should you buy now, or should you wait? In general, the entire alt market is on hold and making space for Bitcoin to grow. So I will not buy yet. I will buy when: 1. A good moment to buy would be when NLG bounces off the first support trendline. (The upper yellow line). However, if this happens before we have crossed the blue line, then I would not buy. 2. If the yellow trendline breaks, a really good buy would be anywhere around 520. It has a major support on this level, and it gets additional strength from the long term support trendline. This is what I am waiting for now. In both scenario's I will have a stop loss under 420. I do not expect it to go below, but if it does, it will go down another 25%. Targets are basically all the lines that are above. I have sold all my NLG at an average of 976 sat. I am planning on buying according to these two factors. Buying at 500-600 nearly doubles the NLG I had before! I will keep you updated if anything changes (fundamentally). I will gladly answer questions, so feel free to comment on my idea. Also, I would love to see your idea for NLGBTC (or NLGUSD). If you like my work, a follow and thumbs up keeps me motivated!
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by Poopieman
Bitcoin re-evaluation, New outlook.I am rethinking my strategy and targets ( ) as volume has been disappointing. we can see that 6300$ is a very tough resistance to break. We had 2 wicks through it but never closed above it. why 6300 region is tough barrier to break: - Tenkan 1D - Kijun 12H - 0.5 fib retrace why 6300 might break: - have been poked 5 times in 1H, which makes it weaker - 12H RSI holding very bullishly - lower 6.2k have printed instant lower wicks - current price is sitting on 0.65 fib retrace. Plan: - keep watch on volume - move stop to profit - if dialy closes red, high wick, or shows more weakness.. take profit and wait for another entry. Analyze daily @AresTrade
BITFINEX:BTCUSD
by AresTrades
AUDCHF LongRiding the bullish sentiment on AUD in COT report along with its rally last week after some good news regarding its better than expected trade balance as well as China's CPI, and Australia getting exempted too from steel tariffs imposed by Trump (like Canada and Mexico). Must monitor CHF and EUR closely though because any signs of rally soon might make this pair ranging instead and there's risk of getting whipsawed instead. Setting up buy stop order @0.75 with TP near weekly resistance @0.775 and SL somewhere between base and R1 pivot lines @0.74 www.businessinsider.com.au www.investing.com thewest.com.au Daily: Weekly: Confidence: B (because of geopolitical risk concerning EUR that can affect CHF)
Long
by aiza_belle
AUDJPY LongWith AUD rallying since last week (see AUDCHF Long idea), and JPY not ending its QE anytime soon (at least until 2019), riding the possible upward bounce for this pair with buy stop order near 85, with TP @88 (near weekly resistance) and SL near previous day's support @83.6. portfolio-adviser.com www.businessinsider.com.au www.businessinsider.com.au Daily: Weekly: Confidence: C (because JPY is very sensitive to news esp geopolitical ones regarding USD, and any signs of JPY chosen as safe haven by investors again and seeing USD riskier will make this AUDJPY long idea not valid anymore)
Long
by aiza_belle
GBP/CHF Short !?We are just about to break the upward Trend here and price already breaks the rising trendline on friday. Just below current price we can find an interesting s/r zone which needs to break before i consider a short entry because price could easily find support here and start to push up again . Without this s/r zone i would enter this trade depending on the monday open and daily price action but thats not the case so i will just sit on my hands until price reaches this s/r zone . So my plan for this pair is to wait for a break n close below the zone to enter a short trade. No break no Trade .....
Short
by Trueman23
Possible BTC/USD breakout in the next daysThe BTC/USD pair is on a sideways market between the Short-term resistance and the Short-term double support . In the next hours or days the price may touch the nearest double support level at 13,100. The two scenarios are: A break out down this level: This may indicate further tumbles in the pair, possibly reaching the Long-term support. A bounce: The price may bounce and reach the nearest Short-term resistance level at 16,200 or even the next level at 19,700. Hoping for a price bounce! --- "If past history was all that is needed to play the game of money, the richest people would be librarians." -Warren Buffett
BITSTAMP:BTCUSDLong
by adelriosantiago
ETHUSD Update Good for Day Traders, others look for lower entry ETHUSD Update Neutral in near term but still bearish whilst trapped under 440 Very interesting price action here: having sold at 468/9 we were waiting to see if ETH could hold up above the lower parallel...it tried so hard for a few hours but eventually it succumbed...failed breaks: remember the pyschology gone over in past posts...day traders are out almost immediately an ETH dives to find structure to left, losing the line at 446 like a hot knife through butter, finding support around the next line of support at 433/target level for bears to close out shorts with a low at 432 (mid structure here, so far) on the chart. Although day traders have bailed out some have bought back lower and others, bemused by the price action remain long...the pattern is confusing in the very near term at that point...bulls say it's cool, spike down, correction done, it's OK so long as 446 holds it up ...those looking at the bigger picture are not so sure ...we did the right thing to trap in profits close to the highs of the run: and not to get trapped at the 480 levels even though it was looking fine for a few hours before failing. It was OK to close out shorts at 433 too. But this pattern is not healthy now. ETH has not finished its rinse out by look of it. More stale bulls need taking out, still, before this is ready to rock again...it's till under pressure whilst unable climb back above 440 and hold up there...432 must hold now if ETH is to have a chance of stabilising here. Any failure here will tip ETH back into bear territory, forcing price lower to 418 and likely spiking as low as 410 before rallying back to 432/3. Annd if at any point 410 gives way by more than 3points look to shoort again on next pull back to 410 fr another decline to 385. Good trades here so long as we follow what the chart is telling us. Initial resistance at 439-440. Needs to break above here and hold before the bears will let go, then it should run up to 446-8 again and come off one more time from there. Good moves for day-traders here but for swingers and those looking to buy this at a good price it looks like we'll get a better chance from lower down if we wait, and not be tired by waiting, etc.
BITFINEX:ETHUSD
by sumastardon
2
Bitcoin falls from record highs, buying opportunities soon.The Bitcoin (BTCUSD) has had a major retracement after setting new record highs. The RSI signal is now giving early warning to buying opportunities, however there are still reasons to wait. Firstly, the price has found resistance at the 23% Fibonacci area and secondly the RSI has not fallen all the way to the lower, oversold levels. Once RSI touches the area signalled by the blue circle “Preferential buying signal”, then the odds become much greater. There are other reasons supporting purchases at these levels, the retracement has pulled down to the 50% retracement area, which co-incides with recent support levels we previously identified (). This then becomes one potential buying area. If the price drops to this area, indicated by the grey box and the RSI touches new lows at the same time, buying then at those levels becomes a highly recommended action. A shorter time analysis also has similar confirmations: Another reason to hold out from purchasing is that in the real bitcoin trading world where actual transactions are occurring, I have experienced very slow transaction times of ten to twenty hours. There is very high congestion on the bitcoin network. Others have reported delays of over a day. This has to do with the computational calculation speed. The time it takes for all the computers and bitcoin computational mining power to process the transactions. There are rumours that with China worried about capital flight into unregulated, uncontrolled areas, therefore are actually controlling the computational power of the bitcoin miners. At the moment the one Achilles heel of the bitcoin blockchain is that anyone controlling more than 51% of the blockchain can manipulate it. There are rumours that this is happening now, in a gentle manner, in attempts to clamp down on capital flight from the Chinese currencies (USDCNH) into the unregulated financial markets, such as Bitcoin, by turning down the dial on computational access. A previous analysis comparing the two currencies highlights unusual movements: However, the major trend is still in a strong upwards momentum. Prices may continue to rise from this point, so smaller trades with larger stop losses can still be made. Once price reaches the potential buying area (square box) then better entries can be made. The preference and recommendation is to wait for the RSI to reach much lower oversold levels then look again for buying opportunities to enter the market, so to wait for now. When the actual Bitcoin processing time also falls to more reasonable levels, this too will indicate selling pressure has lessened.
BITSTAMP:BTCUSDLong
by Quadricolor
BTC pushing up against resistance. Waiting for confirmations.In the 4 Hourly graph we can see price action meeting resistance around the $5800 mark. This is shown by the blue box market ‘ resistance area ’. There has been strong buying action at $5400 market as ‘ Potential support No.1 ’. If enough buyers accumulate then it should push the price past $5800. In this regard if the price pushes strongly past $5800 then the up trend should continue. The general direction of the trend is marked by the three moving averages. The stochastic is falling but the price remains high, indicating continued buying pressure. If the price falls past the first support then the second area ‘ Potential support No.2 ’. Should come into play, with the moving averages coinciding with the recent highs as support. At the moment it almost reads like a 50 / 50 chance of a breakthrough versus and fall through. Overall though the trend is bullish with some short or medium term selling pressure. Therefore I’m waiting for a better time to enter, where my risk to reward ratio is much better. If the price suddenly spikes above $5950 before retracement then I may enter.
BITSTAMP:BTCUSD
by Quadricolor
XAUUSD WaitDespite the current strong bullish sentiment on gold reflecting a cautionary stand about North Korea and other geo-political risks involving the dollar, there's still possiblity that this pair might consolidate in the near future especially if Trump finally pushes through with US tax reforms and the Fed with another rate hike by the end of the year, not to mention there's also bitcoin which is a relatively new competition in the market and outshining gold recently, and most investors going risk on the equity markets instead. This pair can go either way, so setting up a buy stop order between R1-R2 pivot lines (hourly) with TP near the 1400 weekly resistance, and sell stop order between S2-S3 pivot lines (hourly) with TP at the base pivot line on the weekly chart, both setups with tight SLs. www.kitco.com www.kitco.com www.marketwatch.com www.reuters.com www.cryptocoinsnews.com Weekly: Daily: Confidence: A
OANDA:XAUUSD
by aiza_belle