TraderEngineering

TraderEngineering

Ethereum has a string of reversal indications that give us a picture of bearish price action. Are these data points enough to enter a short? How do we trade this? 🤔 Three pushes up, an ascending wedge, and strong resistance alone is not enough justification to enter a reversal trade unless you fade your position (small entries until the reversal happens). It's...

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TON has been meandering sideways for weeks after its bear drop in November. Are we ready to take a trade? How do we trade this? 🤔 We have a gap to the previous Support Area, price rejection at the Daily 200EMA, a useless RSI reading, and Bitcoin hinting at a move to the downside. This isn't a perfect setup, but we have enough to consider a small position 1:1...

TraderEngineering

ONE (Harmony) had a fantastic move to the upside and per my last analysis, we capitalized on it. We have now come into contact with the downward-sloping resistance on the Weekly timeframe. Is it time to short? How do we trade this?  🤔 Short answer, almost. The downward-sloping resistance is a major data point in this analysis, coupled with the two failed...

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LINK completed a measured move and attempted to break past the Resistance Zone twice without success. Does that mean we have justification to short? How do we trade this? 🤔 A low probability, low risk, high reward trade (a reversal) was reasonable after the Daily candle closed on December 15th. That was a strong bear bar closing on its low after the double top,...

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CAKE had a fantastic bounce off of the $2.14 support area and ripped to $2.92! We're close to the next resistance area of $3.135, what does that mean for our trade opportunities? How do we trade this? 🤔 We're too close to major resistance to long on this timeframe (or any timeframe for that matter), we need to wait for either a break of that resistance level,...

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Cardano has been on a ride along with the entire crypto market for months and with a bull flag playing out, looks like we're going to get a little more upward price action. Should we long here? How do we trade this? 🤔 We need to wait for a pullback to at least the 30EMA, maybe the 200EMA, whenever we see some bullish price action in response. A strong bull...

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XRP had yet another rejection off the top of the Triangle Resistance, pushing the price down below the Daily 30EMA. The crypto market as a whole is pulling back from its recent bull run. Are we going down? How do we trade this? 🤔 I believe the crypto market is going to reverse to the downside in the coming weeks. Refer to my recent Bitcoin lifetime analysis...

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Dogecoin is starting to show signs of converting to a trading range after a strong bull run. We have a potential double top reversal pattern playing out after three good pushes to the upside. Does that mean we're heading down? How do we trade this? 🤔 Three pushes up, potential double top reversal pattern, RSI at 62.00 and below the Moving Average, these are the...

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One (Harmony) is threatening the resistance line with another higher high. This could mean a breakout above the $0.18 price area which opens the door to the $0.22 resistance area. Should we enter a long now? How do we trade this? 🤔 It's reasonable to enter a long now with a 1:1 Risk/Reward Ratio, selling half of your position at $0.175 just before the previous...

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USDJPY has been falling in a bear trend since it's double top at last years high of 152.000. We saw a great bull response candle on December 7th and the close of a slightly lower low on December 13th. We may have had the first leg up in a bull reversal, but do we have the data to support it? How do we trade this? 🤔 Short answer, no. We need confirmation that...

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EURUSD was rejected twice at the Resistance Zone and ended last week with a bear bar closing on its low! Should we short here? How do we trade this? 🤔 Short answer (pun intended!), yes! My analysis from last week showed the price action around 1.078 which is right on the EMA support ribbons. Too far away from resistance to short, too far away from the Support...

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Fantom has been marching toward the next key resistance zones ($0.53 and $0.65) as Bitcoin inches toward it's major resistance area of $46,000. The crypto market is burning hot, most tokens are multiple legs into this bull run, what should we expect next? How do we trade this? 🤔 FTM is clearly aiming to touch $0.53, that almost seems inevitable. What we need to...

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Trust Wallet Token is currently attempting to break its bear channel resistance after a nice Head and Shoulders reversal pattern! My last analysis only got us a 1:1 Risk Reward on a short before the right shoulder began to show itself. Now we should be looking for long entries. How do we trade this? We have a descending bear channel arcing to the upside after a...

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Ethereum is far into its bull run from $1,100 to $2,300; with three pushes up and a Weekly RSI near the 70.00 level, and we're near a resistance level. Three initial conditions for a trend change. How do we trade this? 🤔 These conditions are great indicators that we're near the end of the current bull trend, but we don't yet have any confirmation that we're...

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MATIC (Polygon) is at a pivotal moment on the chart; follow-through with the Ascending Triangle and breakout to the upside? Or get rejected a third time and fall back toward the $0.60 level? How do we trade this? 🤔 To justify a long, we need to break the Resistance Zone and test it for support. We're too close to Resistance to long now, the probability of...

TraderEngineering

Cardano had a failed breakout above the Resistance Zone at $0.62, followed by several failed attempts to break it again. Does this mean we enter a long? How do we trade this? 🤔 Entering a short right now is reasonable if you accept the low probability nature of reversal trading. The number of failures to break the resistance zone are great signals to enter a...

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Avalanche (AVAX) is burning red hot on the charts and flirting with the idea of a reversal. Do we have the justification to short here? Or will the trend continue upward? How do we trade this? 🤔 AVAX has three pushes up in this trend, three sell bars near the $44.00 level, and an RSI level of 82.00 and below the Moving Average. These are all signs that a trend...

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USDJPY has officially broken out of the bull channel it's been in since February 2023 and fell hard into the Weekly 200EMA! The final Daily bear candle closed with a large wick over 1/3 the total size and the following Daily candle closed with a long tail as well. Does that mean we're going up? How do we trade this? 🤔 A bear breakout on a bull channel after the...