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Bitcoin is heading towards $50.000Friends, the chart speaks for itself. We saw different patterns play out in the past. Each of them followed by a parabolic run, due to the deflationary nature of Bitcoin and probably a lot of Tether-printing (combined with a weak dollar). After touching the parabolic curve in the recent days with a low at ~$27.000, we saw the price climbing back up and making new All Time Highs (as we speak). There is enough bullish momentum and not enough liquidity to stop anyone from pumping the price further. The RSI and other common indicators fail to give us a hint about possible overbought territories. So we have to trade with the trend. Please use a tight stop loss if you long this. Respectively, we have a bad Risk/Reward (at least in my point of view). Let me know what you think in the comments and feel free to appreciate this idea with a like! cheers, Ares
BITSTAMP:BTCUSDLong
by Anton_XBT
6
Weak signals on GBPUSDWe have recently seen a massive dip in GBPUSD price, followed by a big increase in price, making GBPUSD very volatile, what I would expect after this big increase in price is a slight pullback to the next important support level . I'd keep an eye out as this is quite the good short in my view, as we clearly have weakening volume and candles, and I would expect people to start closing their longs soon. A death cross will help confirm this. Feel free to leave feedback and if you have any questions don't hesitate to contact me through discord or telegram linked in my signature. Here's a longer term view of my resistances/support cheers, tonite
by tonite
2
USDCAD Possible Fib RejectionWe can see multiple elements which leads me to this conclusion, starting off with Fibbonaci, we can clearly see it has been rejected multiple times. We have already gone up by ~1.2% today and it might need some relief. I believe we will see it get rejected at 0.382 Fib Level. We can also see that it has failed the upwards trend-line. I believe it is either going to bounce off the lower Fib Level or the parallel channel, but I would wait for next wick to print for entry. If you have any questions feel free to ask me down in the comments or on telegram linked in my signature. cheers, tonite
by tonite
1
Strong Bulls, Strong Bears, Weak Bulls, Weak BearsStrong Bulls are always looking to buy. Strong Bears are always looking to sell. Weak Bulls and Weak Bears are usually indecisive and wait until its too late, entering at the worst possible time. In general, Strong Bulls sell to Weak Bears, and Strong Bears buy from Weak Bulls. When both Strong Bulls and Strong Bears sell (strong bulls to take profits, and strong bears to initiate shorts), there is only one direction for the market to go. This is when leads to strong moves in the markets. When prices are in a strong bull trend Strong Bulls buy at any price, including a high price. This strong trend can be in the form of a spike or a tight bull channel. The Strong Bulls are aware prices are in a strong trend, and therefore are willing to buy high. This buying prevents a pullback and instead prices continue to rally. Strong bears see this and are not willing to sell yet, and so the lack of selling pressure creates a vacuum and also prevents a pullback. The same is true for Strong Bears in a strong bear trend. When prices are in a weaker bull trend, such as a broad bull channel, bulls who buy high tend to get trapped and are either forced to exit and buy lower, or scale into their position at a lower price. This is also refereed to as "averaging in to a position." When strong bulls see that bulls who buy high are getting trapped, they will only look to buy at a discount, or a pullback and will sell to take profits when prices reach near the highs. This is what feeds the bull channel, which is a form of a slanted trading range. When prices are in a trading range, both Strong Bulls and Strong Bears will only look to buy low and sell high. Most will also scale into their position if prices go against them, and they tend to take smaller profits like 1X risk. What about Weak Bulls and Weak Bears? Weak bulls and Weak bears tend to flip flop in their positions. In other words, they see a bear leg and assume prices are going lower and sell low in the bear leg, just before a rally begins. This is most obvious when prices are in some form of trading range or weak channel where there is heavy two sided trading. Weak bulls also buy high in a bull channel, or high in a trading range. They buy from strong bears who are selling high prices. They are then forced to exit or scale in, and contribute to the selling if they exit. Then when prices are near the bottom of the channel, they become convinced the market is now selling off, and sell low. This repeats over and over as they hope for a breakout and fail to realize what is occurring. A major key in learning to become a profitable trader is the ability to understand what the institutions (strong bulls and strong bears) are doing at any given time. This is how you follow "smart money." If you do not understand what prices are telling you; you are more likely to act as a Weak Bull and Weak Bear, and contribute to the market. To learn more about how to understand institutions and price tendencies, see below. If you found this helpful please like! Feel free to comment or ask questions.
SP:SPX
by tradersmentality
New All Time High - Risky BuyS&P New All Time Highs - Risky Buy The Emini and S&P 500 made a new all time high again today, leading many to believe this market is still strong. In some ways it is, but it is more important to realize it is also in a bull flag trading range. This makes it a risky place to buy up here. This is where strong bulls who bought lower will start looking to take profits, and strong bears will start looking to sell for a move down. Why is it risky to buy now? There is only a 40% chance of a measured move up based on the height of the trading range. And the risk needed to enter now is large (below the bottom of the trading range). There is at least a 50% chance of a test down soon, back into the range. The middle of the trading range is a magnet and will likely get tested before the bull trend continues. Furthermore, if the bears are soon able to create a strong reversal bar for the large wedge, it could increase the probability to 60% for two legs down. If there is a quick and large move up in the next few weeks, it would likely act as a climax and final flag reversal, increasing the likelihood of a sell off. Dont think just because there is no reversal yet that the market cant or wont sell off. Look at the past two sell offs from this area. They began from bull bars (Jan 18 two bar reversal), or small inconspicuous bars (Sep 18 doji to outside bear bar). But the follow through was strong and fast. Of course, this does not mean a shorter term trader cant buy and make money. Day traders can do many things investors do not or should not. But as far as a long term investment, this is simply not a safe one to buy at the current price level unless you are willing to sit through a deep pullback and scale in. And if you are - why not just wait and buy then? If you found this helpful please like! Feel free to comment or ask questions
CME_MINI:ES1!
by tradersmentality
Strong vs WeakHello traders. During the London session this morning we are seeing consistent strength in the Swiss Frank with all pairs increasing in value. Meanwhile the opposite is true for the Japanese Yen - all pairs are down making the Yen weak. The result of strong vs weak is a trend. Our pick today is the CHF/JPY pair for a long position. Here's why.. CHF Pairs: AUDCHF -0.14% CADCHF -0.22% NZDCHF -0.01% EURCHF -0.15% GBPCHF -0.06% USDCHF -0.10% CHFJPY +0.23% JPY Pairs: USDJPY +0.13% EURJPY +0.09% GBPJPY +0.21% AUDJPY +0.09% CHFJPY +0.24% NZDJPY +0.22% CADJPY +0.00% As always, use stops and manage your position for the duration of the trade. Good luck and feel free to share with me your views on the CHF/JPY pair.
Long
by FXLukas
LONG ABOVE YESTERDAYS HOD30/May/2019 10:15 AM INCREDIBLY WEAK NAME HERE. LONG AS LONG AS ABOVE YESTERDAYS LOW. SMALL POSITION SIZE, TARGETING A V BOTTOM. ODDS OF SUCCESS ARE SLIM TO NONE GIVEN THE HISTORICAL WEAKNESS OF THIS NAME. NOT ACTUALLY TAKING THIS TRADE. BUT LOGGING THE IDEA. REALLY IS POOR RISK MGMT TO GO LONG SUCH A WEAK NAME AND SECTOR. BUT MOMO IS THERE WHEN THIS DOES SWING THE OTHER WAY, THUS THE INSPIRATION FOR THE IDEA. IDEA WOULD BE TO MANAGE ON THE 1 TO 4HR TIMEFRAME. -- MASSIVE VOLUME YESTERDAY. AND RECENTLY. SOMEONE IS GETTING INVOLVED OR IS OFF LOADING. 1 OF THE 2. IM NOT A VOLUME ANALYSIS EXPERT THOUGH.
ELong
by gumbtg
[AUD/NZD] Strong NZD vs Weak AUD = Short! [BTFD-VIP]Greetings members and guests PLEASE hit the Thumbs Up button on the right to show some support and love ------------------------->>>>>> ^^^^^^^^ <<<<< Comments and questions are welcomed below, please feel free to ASK anything! HOW TO TRADE THIS CHART? First like/thumbs up the chart then read below..... The AUD/NZD is in our sights, waiting for a decent pullback and shorting this pair due to a very weak Aussie dollar and a strong New Zealand dollar AUD had pretty poor news releases this week already adding to its general weakness there are three major low support levels shown by the purple lines, we can use these to take profits from after dropping out of the descending channel we can see it in oversold areas which should bring the price up a bit in next 24-72 hrs in which we will be looking for an entry... looking for a pullback to around 1.0500-1.0550 for an entry using small lots Targets 1.035 & 1.0222 S/L at R1 resistance level 1.0625 if we do not get back up to those levels i suggest a buy stop at the S1 level or anywhere in between this will be a short-mid term trade continuing with the current downtrend disclaimer: this is for entertainment purposes only and not be considered trade advice
Short
by majorlee
4