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GODD XAUUSD How Gold Traders stay ahead with aid of DXY chartGold: XAUUSD 1.25% How DXY -0.25% is the gold 1.24% trader's best friend right now So far gold 1.24% has behaved in the bear-mangling mode expected of it since the dollar broke down below key support on DXY -0.25% at 94.26 (right hand chart) but it wasn't too smart to let it go again at 1290. That rally on Friday was vicious for bears - the shape of price action as gold 1.24% turned resistance at 1281 into support shows the market adjusting before gold 1.24% powers 16 points north, a volte-face - which you would have been expecting if you've been experienced enough, wise enough to run the two charts in tandem. If you don't you're dealing with a blindfold over one eye... The pin bars on the one hour chart here show strong rejection at 1296.78 down to current levels at 1293 and a streak of uncontested green...very rare for a space like that to remain uncontested and it should flip back to 1288, and potentially to 1284 before it rallies again. On the other side of the street, we can see that DXY -0.25% is flipping in a range beween 93.99 (the high for the week was exactly 93.99 as forecast, giving a precise point at which to sell gold 1.24% - with stops only triggered in event that DXY -0.25% breaks above 94 and holds, in which case DXY -0.25% is going up and Gold 1.24% is going back down. Just the best duo/tandem trade there is in almost any market anywhere. Use it or lose it. Probably the best companion a gold 1.24% trader can ever have. DXY: Dollar index 0.11% Through all the noise of currency pairs and most commodity markets there is a still, small, much neglected voice that can tell usually show you the bigger picture/helicopter view of all that close combat fighting going on below. Not always, but usually. DXY -0.25% , so far since the breakdown at 94.26, has been very helpful. It's flipping between 94 key resistance and 93.50 key near term support and this is what's causing such grief and whipsaw in the price of gold 1.24% . Right now it's giving mixed near term signals... believe it will break lower still eventually, but the chart is not confirming that here....it's just double bottomed at 93.50...was Ok to bounce here for sure but that was quite a big bounce - pins at top and botttom of move...just near term a little confusing, at least to this writer anyway. But gold 1.24% is toppy -0.73% near term and DXY -0.25% is showing a double bottom near term. If it can rally from here then it should push back up to the 93.99 where it should meet profit takers. (Do same with gold 1.24% shorts at that point). And only if DXY -0.25% can then manage to break above 94 and hold is the tide turning back in favour of Dollar, at which point we look to short gold 1.24% again. And on the other side, if at any point DXY -0.25% breaks 93.50 it enters a zone of uncertainty/whipsaw between 93.50 and 93.35 where positions can sudddenly reverse - like quicksand on a map this zone cannot be trusted - a zone to avoid if possible. However, if at any point DXY -0.25% is driven below 93.5 for more than 2 hours it will become llikely that support is eroding and it should start to fall away quite hard to 92.80-92.62 - and thereby triggering aggressive gold 1.24% longs.
TVC:DXYEducation
by sumastardon
Bitcoin: BTCUSD Something for the Weekend Breakout ScenarioBitcoin: BTCUSD Update into the Weekend:Scenarios The battle continues and finally the bears have made an impression on the upper parallel, pushing price down to 7800, where pin bars from earlier show some demand (not shown on chart, but significant to the very near term now). There is no winner yet, though. It can move sideways from here, meeting demand off the parallel and more still at 7717 freezer lid level and down to 7660 at an absolute pinch, building a new rectangular range between 7717 and 7990-8000. It can move sideways further, out of the pull of the parallels, large and small, but still be Ok so long as 7717-7660 holds - but it would be a sign of strength if it could avoid all that, use the large parallel as support and then power higher, and back through the neck line again - if and when it gathers enough buying power to manage that, this next time could well prove successful in breaking the last bears that still stand strong at 7990-8000. So far, from their viewpoint, looking down the mountain from 8000 with stops just above, there's nothing to scare them...yet. OK, that big bear raid first thing in London didn't work out so well for them this time, but their stops still haven't pinged yet. When that happens and 8000 is broken by 20 points it becomes another breakout/momentum play. It will maybe need China to open to create enough volume...they like breakouts - but we need to see one now to add to long positions from here...should it come (but think it will at some point this weekend even if they try to sell it off in China first thing Saturday) it could well be explosive in nature. Doesn't have to be but could well be. And once 8000 is actually broken the upside is, by nature of the beast, incalculable. Anyone who says they have a value for Bitcoin is not to be trusted any more than asking your dog how much it's worth. No one has ANY clue. It could be 15000, it could be 30000, it could be 5000 and it could be 5 one day. No one knows. You KNOW that though. And it's enough to make money - big money - either way. You don't even have to believe in Bitcoin per se, just believe what the chart is telling you, and no one else. And so to the poential for downside this weekend coming: the big parallel remains the first line of support, and then 7717-7660 (stops for remaining longs from 7570 tight under 7660). So if 7717 fails and then 7060 also then fails we have a near term problem emerging and Bitcoin should fall away to 7531 again and the rectangular range suddenly expands from 8000 at top to 7531 at bottomwith 7717 as the dividing line between the three...fantastic for day traders, trading between these lines. This could take a large part of Saturday to play out if we see it..again great for day traders, a nice wide range to play within, potentially developing this weekend as a consequence of this type of price action, if 7717 gives way, as above. But, the bull case is strong whilst above 7717 and still just fine at 7531. But if this fails at any point this weekend, the bears are getting control again. It's a buy on any retest of 7531 with stop just under 7500 for rally to 7719. Then close if a day trader and only go long again from 7730 to 7980 with a stop under 7700, trading between the three blue lines. Long Story short: Turn aggressively bullish again on a break above 8000 by 20 points, that can be sustained (very careful here as it could explode upwards, and potentially downwards too, so stops need using and the risk of being hit quite high so they need to be some way away from 8000 if longs are triggered, at least 100) This is still tough work but the bulls won't quit... That parallel above, just holding it back now...if it breaks above it soon, then the break out could well follow soon after. Good for swing traders. Otherwise we'll be heading for a Saturday made for day-traders, as above. And turn aggressively bearish again only a break below 7531 looking to short rallies back u
BITSTAMP:BTCUSDLong
by sumastardon
EURUSD Buy this dip with tight stop for small lossEURUSD There was a beautiful big head and shoulders top forming here until the Dollar (DXY) fell out of its lower parallel, (see DXY comment from yesterday to help time entry/exit in EUR), meaning that the 2 month long corrective pattern it's been hammering out had come to an abrupt end. DXY has quite a lot further to fall and right now is just making a little counter- rally before turning lower again -(should have another 15 pips upside to 93.99 at a maximum) and falling at least another 1.5% from there, and potentially a full 3%. This means that, although it's in our instincts to look for the short on a break below 1.1780 (worth the short back to 1.1728, if we do see it and this call is wrong...) it's actually more likely that EUR rallies from here, firstly to 1.1871-1.1877 range where it should get sold off again - and then if 1.1880 can be beaten on the second attempt to breach it, it will signal that DXY is declining the 3% and not just 1.5% close certainty. This would force the EUR back to the highs centred around 1.20 where it will become a sell again with stop just above 1.21. So it's a buy with stop just under 1.1780, only reversing if this level is broken as above.
Long
by sumastardon
Gold: XAUUSD Back in the buy zone for next swing higherGOLD : XAUUSD Update Continues to grind higher on a weakening dollar. It's a nice trade if you get the push and pull here...loads of bears who haven't looked at the dollar (muppets), they are the guys going to keep buying us dinner. The dollar is just completing a another failed counter-rally and this has pulled gold back into the buy zone again around the blue line on the chart for the next push higher to 1290. Then let it go again but only to 1284 and then buy again for bear-mangling surge to 1305 where it becomes a big short again with stop 3 points higher.
FX:XAUUSDLong
by sumastardon
Bitcoin: BTCUST Hitting next downside target - next set-upBitcoin: BTCUSD Update Hitting the first downside target and should get a bounce, if so can go back to hit the central parallel and recoil, giving another great shorting opportunity if seen with stop 50 points above the parallel as it hits it. Returning to downside, need to cover potential for Chinese losing all faith and causing the ultimate flush out...it's Bitcoin. We need to remember that ANYTHING can happen and be psychologically prepared for pretty much any eventuality over the next few hours. Still think that the best chance for recovery should be from 5098-4973 range as things stand - though there is a slim chance that this double bottom here might be the low...if so the bounce won't stop at the parallel, but it will stop there at very best on the next rally attempt. It's possible that 4973 will not stop the rout...it will do first time it's hit, but if that fails it will fall away to 4700 which is last-gasp support for Bitcoin, meaning failure to hold up here at the worst will unleash another torrent of selling, including us with stops above 4700, taking Bitcoin back to 2974 - at which case we go long again. So be careful at the 5098-4973 range...we really are looking for evidence of a reversal there - which may be V shaped and fast. So stops need placing and only go long if 4973 or close is touched with stop noless than 50 to 100 points away - it may get swept away...don't feel sorry a that point. It was a brave long. React. Get short, suck it up and place a stop 50 points above 5000. if we see this price action, the first point of support lies at 4700 . Critical, as above. This last total wipe-out phase is not likely to happen. But it could. We need to be ready for pretty much anything. Stay Lucky
BITSTAMP:BTCUSDShort
by sumastardon
2
BITCOIN: BTCUSD ON the brink of the next abyssBITCOIN: BTCUSD On the Brink Right Now Testing the first support 6425 range. Day-traders will be closing out again here, looking to see if selling power wanes ...don't think so but it could create a little counter rally from 6425-6400 , with 6400 being the exact point where the medium term trend line stands right now - and if it does, it should get stopped by the parallels above it which look to be controlling this descent now (couldn't get a grip on those yesterday, because the all-time high was screwing up any symmetry in the chart)...it's breaking now right on to the long term trend line at 6400 now...it's really thinking about it here, looking down and trying to hold up...but no one's buying are they? It's just selling has stopped here, understandably - itFailure here will seal the next stage in Bitcoin's descent - It should fall away to 6312 at least, make a feeble bounce maybe and then fall away further to at least 6165, and then 5997...last gasp support here at 6000 so it should try to pull back from the precipice for a while, and make some kind of getaway here...if this then fails Bitcoin will start to fall in a near straight line back to 5121-4973 range. It's extremely weak whilst trapped within the parallels that are bossing this wave now. Any return to the upper parallel should be viewed as another selling opportunity for now until downside targets are achieved. More as this move develops.
BITSTAMP:BTCUSDShort
by sumastardon
3
Bitcoin: BTCUSD In touching distance now from ParabolaBITCOIN: BTCUSD The Parabola Price was 7181 nearly 5 hours ago and it's 7169 now, just managing to hold above the nearest support line at 7150 Bitcoin certainly has turned dead (remember the end of Carrie?) - but we know it's just pretending. Amazingly the low today put it within 24 points of the parabola, which is rising at a hell of a lick and is at 7080 right now, rising by 6 points every hour now, and becoming ever steeper, as all parabolas must to remain parabolas...not really getting too excited by it and have no strong clue whether it will mean anything on a test of 7080, which should happen if/when 7150 gives way...just that it will be interesting to watch a big parabola in play, just to see if it's nothing more than a pretty pattern, or as with dynamic supports and resistance lines, they really are for real, just invisible to the blind and unitiated.
BITSTAMP:BTCUSD
by sumastardon
1
BITCOIN: BTCUSD Playing the ParabolaBITCOIN:BTCUSD Gone Parabolic Bitcoin throws some beautiful moves on the chart and will go down in the history books and Charting Books of the future as a text-book example of what a scrap of (electonic) paper can do if the story behind it is written well enough. Right now this is the best of the best, making Facebook and Google and Tesla look lame. How long can this keep going on before it boils over? One thing for sure, parabolas are very rare in real time (they are everywhere on the monthly charts...put the Dow DOWI on monthly chart and see all history and a parabola emerges - not so perfect as Bitcoin, but basically parabolic in shape on linear chart) . But Bitcoin is something else - so rare and beautiful to see one unfold. There is no sense in fighting a parabola. Every bear lies slaughtered for miles around as evidence. This bull will rip you a new one before you even have a chance to take your pants down. Nevertheless we can see from the chart on right that the current surge from 6165 up to 7500 high precisely has been very lightly contested/fought over - there has been some push and pull, shown on the left hand chart, throughout this recent ascent, with some nice positive pin bars each time the rising support line that's underpinning the ascent is touched - but returning to right hand chart it's clear that usually moves such as these have to be backed and filled first before the rally resumes in earnest, and in doing so it should give those still wishing to get long of this monster one last fleeting chance to do so... At the moment it's found support just above the supports shown on left hand chart and trying to fly higher - it needs to take out 7500 now to stay positive... if we see it falter and fail just above or just below 7500 then we have the first sign that a turn might be approaching fast...next sign would be a breaking below 7061 and a fall below the rising support line shown on left hand chart. Only at that point will the near term picture start to turn negative for Bitcoin. It should then fall back to the old highs around 6165 - to the rising support line shown on right hand chart at around this level - that would be the perfect entry point for those wishing to ride this tiger...time will tell.
BITSTAMP:BTCUSDLong
by sumastardon
4
EURUSD Continuation pattern under the necklineEURUSD Friday Update Although now flat on all pairs escept USDJPY, still believe EUR is going to weaken, just not convinced there's enough impetus right now to force it back lower into new lows with any real power behind it. It's either going to fail here, as it's back testing the neckline of the head and shoulders looming above it - high in London at 1.1671, so if you're still short from 1.1648-1.1665 with stop 15 points higher at 1.1680 it hasn't been hit yet and it probably will come off from here so it's Ok to short with same stops as above, at 1.1680 but only for 40 pips or so back to 1.1613 - then look to close out as it will likely rally again from around here (Unless you catch this short from the neckline at 1.1665 risk reward ratios are not worth chasing for these few pips - 2 to 1 shots are hardly worth the risk, imo, but you may be OK with that) ...we then need to see it trade 15 pips lower, to 1.1598 to trigger a new short, looking to get in on the next minor pull-back for a move down to 1.1482 initially. The other point where we can expect a reversal for EUR, if not from here, will be off the upper parallel and will require the following price action to become reality: Eur will have to break above the neckline at 1.1665, then bust the stop 15 pips higher. Time, then to switch into longs for a move up to the parallel where will look to go short once more. So far price action on this pair all week has been a continuation pattern under the neck-line, suggesting further weakness for EUR soon - but annoyingly the pattern can play out a while longer and this period of range trading within the range set out for the week so far could well persist for a day or two more - OK for day traders but no help for swingers... for them we need to see a break out of this week's range, as outlined above. Too long writing this...in the time it's taken EUR has already fallen 16 pips...too much waffle! But am out this afternoon Uk time so have tried to cover every eventuality I can see - too much information though. Will try to paraphrase in future
Short
by sumastardon
Ripple (XRP) - Above The Stomach Bullish Scalp -Analysis & Educ.This is a simple XRPUSD & XRPBTC scalp based on the "above the stomach" two-candlestick pattern visible on the 4-hour time-frame... Above The Stomach: # of periods (candles) = 2 price trend (going into the pattern) = downward first candle = black second candle = white candle opening and closing at or above the midpoint of the prior black candle's body Theoretical performance: Bullish reversal Tested performance: Bullish reversal 66% of the time Frequency rank: 32 Overall performance rank: 31 Best percentage meeting price target: 61% (bull market, up breakout) Best average move in 10 days: -4.86% (bear market, down breakout) Best 10-day performance rank: 33 (bear market, down breakout) All ranks are out of 103 candlestick patterns with the top performer ranking 1. "Best" means the highest rated of the four combinations of bull/bear market, up/down breakouts. Other Confirmations based this chart & indicators: KnowSureThing - (RoC Based) showing potential for a double cross (That is both a cross of the signal and zero lines) -The zero-line cross is extra significant as it is the second cross (locally)... as in price has recently cross the zero-line only to fall back below, ready for a second cross.. Net Volume is positive = more buying than selling (a weak bullish confirmation) Price Target: Use the blue colored dash trend-lines to approximate your target
Long
by Kantardziski
USDJPY SHORTUSDJPY after the quick movements from bottom edge of range to top edge, backed to bottom edge and again moved upward to top, finally went upper but it stopped at last local high appointed in 6 october 2017. Price has backed from this level to the range. We are expecting that price could back to the bottom of range so we have opened short inside the range. Target is near the bottom of range. Stop is a few pips over last high. If price will go upward and will go higher than last peak, we will consider long with target near resistance zone at 114.30.
Short
by investsoft
The big short? EURUSDHi guys, a little update to the trade idea I published earlier last week. Today we had a major bearish day for the EUR/USD, does that mean we can short now? A unexprienced tradre might think so, after all we got strong bearish momentum in the market today. However as a good trader we wan't to establish a portfolio for our trade idea. So lets look at other factors: The DXY Looking at the 4h chart, we can see that price has recently found a bottom after a strong sell off. As you guys might know, the DXY is inversely correlated to the EURUSD. If the DXY moves up, the EURUSD goes down, and the other way around aswell. Aswell as finding a bottom, the DXY formed a inverse head & shoulders pattern, a bullish price action formation. Combine this with bullish MACD divergence we got a indicator that price might correct itself in the future. Right at the time as im writing this, price seems to break out of intraday resistance, which would indicate a shift in momentum. But lets look further to widen our picture. The USDOLLAR Index Looking at the 4h chart aswell, we can see that price just broke trough resistance, and is now testing the last line of defence, a descending trendline. Though the break out of the range indicates bullish momentum, we need to see how the USDOLLAR index will react to this resistance, to determine wether we have a fake out, or a real momentum shift. Combining these charts with the information we already have on the EURUSD, the monthly hightest at resistance and the overextended bullish run, we could see the EURUSD head lower. However to really commit to a trade I'd need to see confirmation of a shortterm trendchange. This would be the break of the neckline on the EURUSD 4h chart, and a retest, aswell as a brekaout on the USDOLLAR and a retest. Nevertheless the confluence on this potential trade is massive, and it is a trade one wouldn't want to miss if it goes. My plan for the future hours/days is to await the break and retest, and then position myself short. I will keep you updated!
Short
by Schlabberlatz
Eth Enterprise .Ready to boldly go where no man has gone beforeNerdyness on a new level. ETH enterprise is ready for takeoff . Destination far far up and away. The only thing we know is that Vitalik have saved you a seat. Remember to hold on to your Eth...We are going very far and its going much faster then we thought .Cause this thing runs on Ethereum . -Disclaimer , my first chart ,made from what I have learnt reading on tradingview. But really , lets be honest.. Sell your house kids and car, buy Eth cause this is the future. -If you have comments or constructive criticism please let me know. Always interested in learning more. -There is a few things in the world of currencies I am looking forward to. Ethereum in the next two months is one of them. Ethereum in the future, even more. "This will be fun to look back on in the future!" _____________________________ Ethereum News and upcoming events. V-ENS launch Ethereum Name Service offers a secure and decentralised way to address resources both on and off the blockchain using simple, human-readable names. Live stats can be viewed here once it goes live. V-EEA adds 86 new members V-Huobi will list the CNY/ETH pair for trading V-Huobi is one of China's top 3 crypto exchange. V-OKcoin will list the CNY/ETH and USD/ETH pair for trading V-Okcoin is one of China's top 3 crypto exchange. V-BAT ICO. From the creator of JavaScript and the co-founder of Mozilla and Firefox, BAT is targeting to raise USD24 million for their blockchain based digital advertising solution. not confirmedRaiden Lightning network on Ethereum . Ca:23 june - Metropolis launch (---This gonna be big---) Metropolis is a milestone hard fork that upgrades Ethereum . Visit here for the EIPs involved. Proof of stake PoS -1.66% is the replacement of PoW to verify transactions. Stage 1 is 75% complete. If you like my idea or mean that I am in lack of chartingskills , you can always donate some Eth : 0x7354cb10be5e994dbc801388f9de4460c083bc24 Money will be spent on actually getting some chartingskills. "Dont mind me, I`m not selling I´m just along for the ride"
KRAKEN:ETHUSD
by BiT73x
10