Actionreaction
Bitcoin UP or DOWN ?So BTCUSD dropped as expected as my previous analysis (you can check it if you want to). It already dropped to 4,000 and bounced back to around 4680, then dropped again to 4220 (until this moment). Again, as my goal is not to tell you whether you should Long or Short, I hope you all can analyze your chart carefully, having your own prediction, and you will know what you should do with your trading strategy.
Here is my work, based on Action/Reaction, which something I am still researching and learning.
SandP 500 E-Mini Futures 240 CME Updated 9/8/2017 Price has broken down, and gone back into the down ward sloping pink fork. Look to see if price can break 2450 and continue, and provide a retest of support as resistance. If not, we could see 2450 act as support again, and have new buyers try to come in and push price higher.
SandP 500 E-Mini Futures D CME Updated 9/8/2017Price is coming off of the resistance line near 2480. Look to see if price will continue further down to the lower parallel channel, and see if price could possibly break it, as it seems that the current bar is pointing prices lower. If we break down look at the 2400 level as possible support, as well as the lower parallel channel line.
SandP 500 E-Mini Futures 240 CME Updated 9/7/2017 Price has started to rice higher looking to try to break 2461 and 2480 resistance. Look to see if price can work its way higher, or if we will hold as resistance here and continue dropping. We are in a consolidation point here. Look to see if price wil break 2450 or 2480.
SandP 500 E-Mini Futures D CME Updated 9/6/2017Price is now fallen again off of resistance around 2480, and has landed at 2450. Look to see if price can hold here and try to break again. If not, we should eventually either retest the blue median line again on the back, or break down lower under 2450 to go to 2400 again.
SandP 500 E-Mini Futures 60 CME Updated 9/5/2017Price is following nicely the upward blue median line. We have multiple tests also on this recent sliding parallel. Look to see if price breaks 2463 or tryis to test again the 2480 area. The multiple tests on this sliding parallel could point to a retest of 2480.
SandP 500 E-Mini Futures D CME Updated 9/1/2017Price has risen after hitting the sliding action reaction set parallel and is now at prior resistance near 2480. Look to see what price does here. It has come up and done a retest or a switch back of the broken lower blue median line. Price often does this with median line breaks, so see if price stay below the lower blue median line.
SandP 500 E-Mini Futures 60 CME Updated 8/31/2017Price has risen off of the test and retest of the bottom median line, and is now at prior resistance near 2465. we are following the path of the newly added blue median line nicely with tests, but no break as of yet on the middle median line. Look to see if the 2465 and the warning line 2 will hold as resistance, or if we break the middle median line and continue higher.
SandP 500 E-Mini Futures D CME Updated 8/31/2017Price has risen after hitting the sliding parallel on the action reaction set and has broken through the 2450 resistance area. look to see if price will drop back below from here, or continue to rise up to the 2480 area to try to test resistance up there. We are still in a sideways up move from the looks of it until we break hard the 2420 and 2400 levels to the downside. When we do that we could see moves lower especially if we break the 2400 area. To the upside following the channel, if we break 2480 look to the top of the sideways upward action reaction set to act as resistance.
SandP 500 E-Mini Futures 240 CME Updated 8/30/2017We are looking at 2450 as resistance here. If price breaks to the upside, look for 2461 and the upper median line parallel as possible resistance points. On this time frame it looks like price could pull back a little maybe to near the 2440 area to show as possible support again.
SandP 500 E-Mini Futures 60 CME Updated 8/30/2017Price bounced off the lower median line nicely,filled the gap, and stalled at prior resistance near 2454. It looks like there is some new strength in the market on this time frame. We should see a drop to at least 2439-2444, then show some support somewhere in there.
SandP 500 E-Mini Futures 60 CME Updated 8/29/2017Price has broke down from the 2454 and also the 2449 level around the psych level of 2450. We have also touched the lower median line again which has shown great frequency in the past. Look for price to pull back a bit here before possibly filling the gap near 2439.75.