InvestingScope

InvestingScope

The previous TP = 9.23060 has been hit as the 4H Channel Up peaked just above 9.25000. EURHKD is now trading within a 1D Rectangle (RSI = 46.757, STOCH = 50.624, ADX = 26.644, Williams = -54.225, Highs/Lows = 0.0000). We will be performing scalp trading on the tight bands of this Rectangle with the first trade a long (TP = 9.2050).

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The 4H chart has stabilized (RSI = 54.964, CCI = 35.7101, Highs/Lows = 0.00) following a price jump from 7,800 to 8,300 completing an Inverted Head and Shoulders. 1H is trading sideways (RSI = 45.804, Williams = -52.906 on High Volatility ATR = 47.0094) on its 8,065.1 - 8,301.7 neckline. As you see on the previous Fibonacci retracements that formed the Lower Highs...

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The latest price action has marginally broken the Lower High limit on the 1D Channel Down (RSI = 44.637 but on neutral ADX, CCI, MACD, Highs/Lows). However, this (minor) break-out is so far on a Lower High scale and can be a falst break-out based on larger volumes. It is more probable to re-enter the 1D Channel Down as 4H suggests (STOCH = 24.684, STOCHRSI =...

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IOTA is on recurring Cup patterns on 1D (neutral RSI = 46.114, ADX = 21.167, Highs/Lows = 0) trading sideways for over a month. The 0.9132 support continues to contain this medium term consolidation and the 1.2548 Resistance to reject it. We remain bearish on the longer term as 1W is still on negative MACD = -0.184, Highs/Lows = -0.2865, B/BP = -0.5280. IOTUSD TP...

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Cardano was rejected under the selling pressure of the 1D 0.1832 Resistance with the chart now neutral (STOCH = 48.832, ADX = 18.447, Highs/Lows = 0) on a curve pattern that is about to breakout lower. 4H is already selling above the SMA50 = 0.17126 targeting the SMA200 = 0.14954. We still expect a test of the lower support levels for ADAUSD, TP1 = 0.099141...

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Stellar has followed the Fibonacci pattern modeled after Bitcoin recent retracements as it was rejected on the 0.618 (0.3534) level. As expected the previously overbought 4H/ 1D strength index weighed on therejection. The price is already on the 2nd straight bearish 1D candle and we are still shorting XLMUSD on every retracement. 4H is now neutral (RSI = 50.739)...

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Litecoin is extending the Rectangle pattern from 4H to 1D (RSI = 47.896, CCI = 1.8149, Highs/Lows = 0) completing a full month of sideways trading within 72.665 - 90.190. We continue to take advantage of this scalping pattern, but reserve most shorts for the lower TP1 = 70.855 and TP2 = 49.508 (November 02, 2017 bottom). Despite this neutral action on 1D, the 1W...

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EOSUSD is now on a critical break-out point on the current 1D Channel Down (RSI = 54.482). As you see there are recurring Channel patterns on 1W, which if replicated again, EOS should aggressively break out much higher. The price should consolidate for 1 week and if the Lower High area breaks (as seen on the chart) it should deliver a similar uptrend. Until that...

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Ripple has been rejected on the maximum possible extension of the 1W Channel Down (RSI = 42.773, MACD = -0.063, Highs/Lows = -0.0776, B/BP = -0.2004) and is now trading sideways on 1D (neutral RSI, ADX, CCI, Highs/Lows) preparing for the next aggressive bearish leg. Our TP set for XRPUSD is intact: 0.4100 and 0.35277.

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Ethereum remains neutral on 1D (RSI = 53.261, ADX = 16.597) and just hit the last Lower High level of the 1W bearish fan (RSI = 45.125, MACD = -35.670, Highs/Lows = -29.6167, B/BP = -122.5500). Strong accumulated selling pressure is expected, which should this time break 420 and deliver the TP = 357.60 (April 01,2018 low).

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The 8,485.7 High has crossed the 0.618 Fibonacci retracement point (8,383.30) from the most recent top - bottom on 1D (10,000 - 5,770). That is where the 10,000 High (May 4th) started moving lower towards 5,756.70 on a Channel Down. Based on the 1W Falling Wedge (RSI = 51.503, MACD = -406.000) we expect a similar development (8,691.40 should be the maximum) so a...

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QRLBTC has been aggressively sold near 0.00012 and according to the similar candle patterns seen on the chart, this technically results in a strong sell-off. 1W remains a Descending Triangle (RSI = 43.839, MACD, Highs/Lows, B/BP = 0) looking this time to cross the 0.0000594 December 08, 2017 support. We are shorting here with TP = 0.00004.

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ZRXUSD has just hit the 1.3390 Resistance level on 1D and the Channel Up (RSI = 57.637) has pulled back. This can either be an attempt to form a Higher Low (Highs/Lows = 0.0000) or a 1W bearish reversal (STOCH = 35.072, Williams = -57.526). If 1.3390 breaks, we will go long, TP = 1.5915. If 1.0134 breaks, we will go short, TP = 0.7870.

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ETPBTC has seemingly reversed already after hitting the 0.00029564 Resistance on 1W (RSI = 54.551). 0.00022501 and 0.00019525 are the support levels to watch (the latter is our current short's TP also). If the price action imitates the previous pattern (Jan - March) on 1W then we will have another Resistance test before dropping further. In any case shorting here...

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TRXBTC continues to trade within a 1D Channel Down on a near oversold RSI = 29.498, already having touched the 0.00000435 support and getting closer to the last 0.00000353 support. The neutral 1W RSI = 46.885, MACD = 0.000, B/BP = 0.000 suggest that this is close to an equilibrium point. Long TP = 0.00000618.

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1D has started breaking into neutral levels (RSI = 45.047), covering the MA100, and although the curve took a slight extension, 4H is on adequate bullish levels (ADX = 34.737, B/BP = 1.0760) to justify a strong bullish leg tomorrow. The candle similarities on 1D (see chart) makes for a perfect pattern recognition into a strong bullish candle after tomorrow's Crude...

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DX recovered the 0.50 Fibo spot on 1H adding further selling pressure on another failed top (1.1717). Essentially the price stayed ranged under high 1H (ATR: 0.0019) volatility (Triangle on RSI = 43.294, Highs/Lows = 0) stalling halfway the completion of the projected 4H H&S pattern (RSI = 48.825, Ultimate Oscillator = 49.400). This has created a new successive...

InvestingScope

In the absence of high importance economic news today, Gold traded on a highly volatile (ATR # 2.5186) 1H Triangle (RSI = 49.473, CCI = 23.2037, Highs/Lows = 0.0). This hasn't altered the 4H Channel Down (MACD = -2.800, B/BP = -0.3540) which after pricing its latest Lower High (RSI = 45.930), is ready for a new Lower Low near 1,208 (July 2017 low = 1,208.70) and...