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Waitingforconfirm

Follow the Trend: $5400 sooner rather than laterPlease! And I repeat, please! Stop trying to anticipate the bottom by buying the "dips" that the media and your favorite Youtuber push down your throat. I take it that everyone that puts the effort in to even attempt to dive into TA has a strongunderstanding that the market works in trends. AND RIGHT NOW, AS HARD AS IT IS TO SAY, THAT TREND IS DOWNWARD!!! With this said I put together a depiction of what this weeks short will look like within my trading community. There is a strong resistance at roughly $6280, which is the swing low of ($7600 to $6280) the previous downward swing. If bitcoin were to break this resistance level the highest I could see it going is $6400- where .... ,its current channel and the channel of the downward trend of the market would intersect, forming the same pattern of resistance that happened in the previous channel above before it began to follow its downward trend. We predict that there will be a pull back at the resistance level of the latest swing low ($5780), which is where I will take profits before I reinvest them with another short before bitcoin reaches roughly $5400!! How did I get $5400: I took 90% of the previous downward swing ($6700-$5700) which brought me to approximately 5,439.28 when plugging in the exact coordinates. Side note: Please do not let mainstream media, whom is controlled by the elite, bait you in to believing that the bottom is near. They are not even close to flushing out all of the "bs" coins that made millions of dollars . So until the regulations come, make you some money strategically placing your shorts. Best of luck to guys!!
BITFINEX:BTCUSDShort
by domartis22
7
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
AUD/USD Short Setup forming on 12hrAnalysis Price is currently trending up after a nice bounce off of support at ~0.73431 levels Price currently finds itself in a previous support/resistance area ~0.74847 levels Recent data shows six previous times where price found support/resistance in this area Trade Triggers More indication that price is finding resistance at this level Indecision candle on the daily close also the 12hr close Stop-loss will be just above daily high wick Primary target will be before previous recent support levels ~0.74048 with a minimum risk/reward ratio: 2.06 Secondary target will before the support area ~0.7343431 levels
Short
by psyd3fx
EUR/USD potential move to the downside.There is a potential move to the downside on the 4 hourly time frame. This one looks pretty obvious to me with the Cypher pattern and trend break in the vicinity together with confluence on the pound. Many traders will put their stops in the same place so there is a possibility that the price may spike up a little past 1.07800 before falling back down therefore it is best to wait for confirmation on the lower time frames (1hr/15m) before selling. This approach will also improve R:R. There is around a 4:1 R:R on this and around 150+ pips to be had if we can catch it. Use good money management and best of luck!
Short
by Maxun
CHK Ascending Triangle PatternCHK had strong downward channel trend that turned around in Feb 2016. Ascending triangle pattern formation, on monthly, weekly and daily timeframes, for long-term swing in price to break upper resistance @ ~$8.00 (this is daily chart). Again, RSI has been so graceful in confirming possible short or long entries for the whole duration of the triangle's existence. RSI expected to drop with price (yellow ellipse on RSI chart); personally expect move to about $6.30 (yellow circle on chart proper), then turn around for upward swing to $8.00 resistance level. If CHK can break $8.00, it can be a huge feast from there (possibly hit old $13 support level); it's a waiting game now. Wait for RSI confirmation and enter long around $6.50-$6.30. However, outcome of earnings has potential to make or break chart pattern.
CLong
by AtoHoward
PALLADIUM indecisive at the momentSomeone asked an advice in chat about Palladium LONG (with TP@756.00) and thought to provide my personal point of view with a more organic answer... The instrument is uptrend on the long term, but it looks indecisive at the moment; from the chart we can see it is in a range between two Fibonacci levels (and one of them is a resistance as well). If we entered LONG at the bottom of the retracement the trade would be risky might be somewhat safe (with a SL just below the Fibonacci line serving as support. The price bounced a few times around the ~756.13 line as well: last but not least, the pin-bar reversal on Thursday (see the lower red line in the next chart, orange line in the others) Note that there is also an historical support on the Daily/Weekly (the higher blue line ~767.99 in the chart). If we bought it around 748 (I am just guessing an entry point) we would have a 1:1 risk-reward-ratio which is not ideal given the conditions. If we really wanted a 1:1 risk-reward-ratio, the entry point should have been put just above the Fibonacci level where the price bounced and the SL accordingly. I do not want to be dragged into the philosophical discussion if it is worth trading commodities for short-term, relatively little movements :) I would just stick to the technical and say that not advise to enter a trade in the middle of a Fibonacci level or between two support/resistance levels (even more if one confirms the other). Hope that helps
TVC:PALLADIUM
by AlbionTrader
Building a case for shorting the GBP/JPYThere are so many factors in my decision to enter a trade, but I always start with the wider time frames. You'll see a number of the confluence factors I've put together is found or more dominantly seen, on the wider times frames (i.e. weekly, monthly, quarterly) and just for the clarity I always start on the widest frame and work down to the narrower views. You can see that today this chart hasn't produced an entry quite yet. But I think that's where we as Trader's need to be looking because "Point and Shoot" trades have a big disadvantage to begin and that is they are normally based on emotions for that day, "I haven't traded for awhile, gotta put something on", and that'll drain an account faster than a ketchup dispenser at MacDonald's. So, that means we need to be ahead of the market. Why am I trading right back into the MA's here? Well looking at those wider time frames again you'll the MA's are actually an advantage. So, I'm sure there are many opinions on this, please feel free to fire away any thoughts!
Short
by bkarcha1
5
EURUSD needs to confirm its' direction before making a decision Ok so EURUSD already broke down that trendline, it almost re-tested it thrice, we can't say that's a double top because it passed through the trendline again and came back in, but I also see what could be a mini head and shoulders forming there. Since it already reached a .618 Fibs retracement... I would expect a BEARISH scenario, but I need it to confirm its' intentions before making a decision. Any opinions on this?
by patogarcia912
2
GJ Possible Shorts (Waiting For Confirmed Candle Close) Week 36I’ve Notices It’s Broked out support trendline which has been holding weight for a while now, u can see how prices has been respecting The fibs ratio (when drawn right) price on the 4hour failed to close below 38.2 however allot of people are buying yen atm, could be a nice possible swing down (hoping for somthing like the swing up i got) but if u no my style u know i will be waiting for confirmed candle close before geting in,, anyways that will be all for me till next 4hours. PREVIOUS 600PIPS GJ Long
Short
by Lay-Z
2