Get started

200

200 DMA Failure Confirms Bear MarketNow that the indexes have broken out of the last major down channel (drawn in blue), the 200 day moving average (in purple) is the next major resistance. The S&P 500 has failed to hold above the 200 DMA three times since Oct 2018. Holding above the 200 DMA is the real test of being in a bull market or not--bull markets hold over the 200 DMA for extended periods while bear markets are rejected at the 200 DMA. Having another major market turn at the 200 DMA, (especially without having retested Dec lows or even built any significant resistance points on the way up) is going to look very BAD in my opinion. But the market is so over extended now I don't see how it can rally over the 200 day MA and hold. So the market moves up, whistling bullishly, oblivious to the bear market confirmation it has primed itself for. This rally has been impossible to short, but going long now would be similarly doomed. So short at the next break under the 200 day MA, and watch as the market collapses.
SP:SPXShort
by MystryBox
16
GBPUSD upside break underwayThe British pound has broken above the key 1.3095 resistance level against the US dollar after reports surfaced that the Irish DUP party now support British PM Theresa May’s amended Brexit deal. If the GBPUSD pair holds above the 1.3095 level, buyers could start to test towards the 1.3170 level. The overall short-term upside target for buyers is likely to be the August 2018 trading high, which is located close to the 1.3300 level. The GBPUSD pair is strongly bullish while trading above the 1.3095 level, key technical resistance is now found at the 1.3170 and 1.3300 levels. If the GBPUSD pair trades back under the 1.3095 level, a decline towards the 1.3030 and 1.2990 levels may occur.
by OctaFX_Official
EURUSD heavily bearish below 1.1300The euro currency is under heavy downside pressure against the US dollar on Friday after ECB President Mario Draghi struck a more dovish tone towards the eurozone economy at yesterday’s ECB policy meeting. A clear break below the 1.1300 level exposes the EURUSD pair to further technical selling towards at least the 1.1260 level. A bearish head and shoulders pattern is starting to emerge across the lower time frames. The EURUSD pair is strongly bearish while trading below the 1.1300 level, key technical support is found at the 1.1260 and 1.1214 levels. If the EURUSD pair moves above the 1.1360 level, buyers may test towards the 1.1380 and 1.1410 resistance levels.
by OctaFX_Official
ETHUSD remains vulnerable to lossesEthereum remains under downside pressure on Friday, amidst declining trading volumes and historically low trading ranges. Until a sustained break from the $110.00 to $125.00 price range occurs, narrowing trading conditions are likely to persist for the second largest cryptocurrency. The $92.00 level is likely to be sellers immediate target if the $110.00 level is broken. The ETHUSD pair is only bullish while trading above the $125.00 level, key resistance remains at the 140.00 and $158.00 levels.\u2028 If ETHUSD pair trades below the $110.00 level, key support is found at the $100.00 and 92.00 levels.
BITFINEX:ETHUSD
by OctaFX_Official
EURUSD awaiting key manufacturing dataThe euro is starting to move higher against the US dollar in early Thursday trade, ahead of the release of key eurozone PMI manufacturing data later this morning. Weaker than expected PMI data from the French and German economies will likely reverse the EURUSD pairs recent recovery, with the 1.1335 level the key support level to watch. The 1.1410 level is the immediate resistance bulls need to break to encourage further technical buying. The EURUSD pair is only bearish while trading below the 1.1360 level, key technical support is found at the 1.1335 and 1.1300 levels. If the EURUSD pair holds above the 1.1380 level, buyers may test towards the 1.1410 and 1.1450 resistance levels.
by OctaFX_Official
GBPUSD bulls attacking major resistanceThe British pound has surged to its highest trading level against the US dollar since November 2018, after bulls easily broke through the 1.3030 resistance barrier on Wednesday. The GBPUSD pair now trades above its 200-day moving average and faces a key challenge from the 1.3095 resistance level. If bulls can move price above the 1.3095 level, further upside towards the 1.3170 level seems possible. The GBPUSD pair is strongly bullish while trading above the 1.3030 level, key technical resistance is now found at the 1.3095 and 1.3170 levels. If the GBPUSD pair falls under the 1.3030 level, a decline towards the 1.2990 and 1.2940 levels may occur.
by OctaFX_Official
BTCUSD sellers fail to capitalizeBitcoin is once again testing towards the $3,660 resistance level, after sellers failed to capitalize on the early week drop below the key $3,485 support level. The broader cryptocurrency market enjoyed a decent rally on Wednesday, although the BTCUSD pair added only marginal gains on the day. A break of the $3,300 to $3,960 price range is needed before the next short-term trend can be established. The BTCUSD pair is only bearish while trading below the $3,485 level, key technical support remains at the $3,300 and $3,100 levels. If the BTCUSD pair breaks above the $3,660 level, key resistance is then found at the $3,960 and $4,220 levels.
BITFINEX:BTCUSD
by OctaFX_Official
4
BCN waiting for good opportunity Part 3 of 3I think waiting is over, pair didn't reach for a long time another support which was 15. It is very common on markets that if there is strong bullish movement pairs not necessary are touching support line when they push forward. Since my last BCN idea BTC price slashed another 50%. It was close to 6500 back then. I think that BCN bottomed at this stage. Position should be open without any SL and whole money put on trade should be considered as a risk capital. There is slight chance that the BCN will go lower significantly for short period of time and then bounce back and move rapidly towards north which may wiped out all SL's and It happens very often. I will aim for 190 for this trade. This coin also is very unique it may have some problems couple of months ago but this was actually good news which dumped price lower which gave us good opportunity to enter market with good price. ...and just remember this is just my opinion so please don't be so harsh in comments:)
BLong
by Krystiannwk
Finding support on the 200 week moving averagethe BLX chart has the cryptomarket charted since 2011 and during that charts entire existence we have always held support above the 200 week moving average (in blue) We have now touched it again and are seeing a relief bounce....judging by the weekly stochrsi we will likely see a nice bounce here. However I think t his rally may be temporary I think we may ultimately maintain support on the 200 weekly moving average but we may revisit and throw a wick well below it for our capitulation candle (around february) although we may still close that capitulation candle above the 200ma as well. A good time to be long temporarily but remember we likely haven't seen our capitulation candle just yet.
BNC:BLXLong
by DrDovetail
$BTC LOG SCALE ON COINBASE FAT BEARIf you look at the daily Coinbase chart and switch it to a log scale chart. Then you will see that the uptrend is stronger than you thought but you will also see that we have been in a Bear market since price closed below the 200 EMA back in January of this year. I have been told that many long term institutional investors use Log Scale charts -vs- standard Linear Scale charts when they are making TA decisions. Either way I feel that it is in my best interest to try and swim in the direction of the current. With that being said institutional money has been short since last December when the $BTC Futures contracts launched. Who do you think ran the price way up to $20K just so they could short it at the tipsy top? Every week since they have been short, balance heavy in the futures market so until we see them swing their positions to the long side then I feel that we are looking at more downward pressure. Not only do we have problems with several adult man children fighting over their toys ($BCH Drama) but their is no one with a vested interest to defend $BTC at this level. What I mean by this is, when the CME and the CBOT decided to launch $BTC futures contracts then on that day they started buying physical $BTC and how many years did it take them to stand up their products? How many years ago was that? The institutions are into $BTC much lower than many would think so don't be surprised to see $BTC slide to $1,500 or lower. Just my 2 nickles. DCA + HODL = Success. Viva La Crypto!!!
COINBASE:BTCUSDShort
by dipdizzywizzle
OMGBTC good signal to buy chart No1Technicals only I think market didn't move after it bounced second time from the 50000 area. Wick of the candle touched support created by bodies of candles year ago. Double bottom is spread which gives bigger chance that the rebound will be stronger. It is still good time to enter market as the risk is very low. Also 50000 is working as psychological support/resistance area. I set TP around 90000 or if the pair touch 200 Ema then trade should be automatically closed unless you are expecting massive movement. SL around 45000.
Long
by Krystiannwk
CADCHF long position Pair is constantly rejected when close to 200 EMA and GAP's from daily chart. It is very probable that any pair after the rapid movement on daily, weekly, 4h scale will move further in the same direction. The upper GAP(darker shade of blue) is holding recent attempts and created solid support/resistance area. This are will be breached in near term and it should create nice support for further gains. The other highly probable scenario is that the pair indeed will go beyond recent highs but it will pull-back shortly after and move towards south. For safe trade I would recommend R/R close to 2:1 which is based on current price and is marked with very green rectangle.
Long
by Krystiannwk
NZDJPY short Pair is in downtrend for at least year. It created visible channel which trapped the pair in August and since then it is bouncing from two levels 75.50 and 72.50. If I would look for psychological levels I would rather go for 75 and 70. What is telling me that the pair has good chance to follow described scenario: - trade is following recent trade - GAP from daily chart is respected by market(blue circle) and successfully stopped bullish movement last Friday - 200 Ema also successfully stopped bullish move with fancy doji candle. - it is very common for market that when pair is trading in channel upper and lower parts are creating very strong support/resistance area. - I choose TP area wisely and it is set in 50% of channel. It is reasonable and it still gives us 3:1 R/R. Cons: - there is actually one and it is big bullish candle which are often suggesting further up movement I think it is worth risk and if it happens that the Yen will be loosing on value in next week then I will set up trading plan accordingly.
Short
by Krystiannwk