Consider a long if this set up plays out. If we bounce off the top of our fibonacci, proceed with caution. If you miss your first entry, then take the second one.
We have two possible set ups here (when do we not though?), and our trade will be based on whether either signal is validated.
Using the "Fibaus Noodler V6", which you can get invite access to by reaching out to user Fibonacciaustrian here (www.tradingview.com), as well as some structure calculation and Elliot wave analysis, price action points to general bearish sentiment. We wait for a pullback before entering our short, because that is a typical confirmation of a bearish structure....
Hi all, I am a perpetually bearish individual until I see a reason to be considered bullish. With that in mind, I notice that XRP has ripped through a structure this week. My thought with this is that we will close below it within the next two days, meaning BTC will likely go above and promptly below as well. BTC and alts seem to be laggard complementary...
Hi guys, I would like to start sharing some educational charts concerning price action strategies, something I feel that is often overlooked by a lot of traders on here. While a lot of indicators can be cool and give you confidence in your trades, oftentimes they are quite ambiguous in nature, leading to some questionable trades at times. Not only that, but it's...
We've seen a nice little bounce off of our structure, so we may open a long where we will likely test the .618 of the previous high.
If we break below the neckline, expect a dive down.
Rejection of the structure on the hourly is a textbook trend change rejection- for now, consider us still trending down.
As I mentioned in my last chart, the failure to break the structure showed weakness as a whole. When you see such failures, it's quite indicative of a down trend. If we close below the red structure in the next 40 minutes, then we will retest 6100 again.
BTC has rejected it's resistance structure, and the daily closed just below it. I expect some downside coming soon, but of course, protect yourself in the event that we actually continue up. Remember, it's all about perspective.
Details are enclosed within the chart. Take this trade with caution, as we aren't in the most particularly appealing spot at the moment.
Possible long set up in the making. This trade set up is invalidated if we dump close below the blue structure bar.
Last week was a real doozy. In one fell swoop, we have nearly done a full retrace of our previous bull run (8/13/18-8/27/18). We closed below our supporting structure (the red region), which is bad news in my opinion. We have held that structure since 6/18/18, so the fact that it has broken down alludes to a continual down trend. The most likely top we'll see in...
Follow the instructions within for your trade set up.
Here guys, we broke some line somewhere, so stop loss just a bit below, and take profit at the top. You can take profit along the way if you please, too. I might be off a few days, so I do apologize.
Doing a little investigating, I've happened to note that both the 2014 bull run and our 2017 bull run gained equal percentages. They're also both moving in a very similar way, leading me to believe that we will find our bottom in February of 2019. From there, this is a chance we could break into the 90k region, but that won't be until the beginning of 2022. If you...