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Bearishmacddivergence

Link USD trading idea and Getting out of trading slump tipspHello everyone. We are back with another cryptocurrency, technical analysis, this one featuring Link. If you can tell by my lack of blog posts, I haven't been in the "Zone" recently. I have been looking at charts, completely unsure of what is happening. There are so many possible wave counts that start flowing through my head, and I lose track of everything around me. Fun fact, this whole day, I have been crippled by my inability to figure out what is happening in the S&P500 and with bitcoin. After forcing myself away from the computer for a couple hours, and coming back later in the day, I realized that when I am confused, I just have to count the waves as precisely as I can. I got so used to clear and clean wave counts, that now, when things don't seem so clear, I am confused. I am confident now, that if I stick looking at the exact waves, I'll have a better time understanding why certain moves are happening. So this is hope for all of you out there. If you ever feel lost, just go back to the basics and the rules of what you know. Anyway, enough with the pep talk, let's get into the analysis. Elliottwave analysis: What are we seeing? On the 2 hour time frame, we are able to get a good bird's eye view of the past couple of days. We can see that we have completed an impulsive wave to the upside, and we are about to start the wave c down to the 0.5 area. I think that we have finished the wave B, because we have bounced off of the 0.618 retracement of the wave A, which is a good target for the end of the wave B, and we have also completed all three waves for wave B, with the A and C matching almost exactly 1:1. The reason I am targeting the 0.5 retracement of the larger wave, is because it is the wave 4 low and will provide a strong support for us. The stop loss I have set is the 11.4247 range. Other confounding factors include a very bullishly diverging macd.( we can see that the wave 3 and 5 have had much higher highs on the price action, and much lower highs on the RSI. In addition to this, the macd is looking QUITE bearish, showing us two lower peaks, and a histogram that is getting higher highs on the downside. All in all, I hope you can find some information and some profits from this trade. Until next time, happy trading, and enjoy the rest of your week.
BITFINEX:LINKUSDShort
by Mika_k
Cardano Dump?Took a short here on Cardano. Nice and easy with dominance reversing (short term - probably too the top resistance of the wedge. Bearish mace cross and downticking histogram. I'm in. Let's see what happens. If you keep things simple, and manage your risk properly. This is actually fun stuff... ;-) #ADA/Z19 Exchanges: Bitmex Signal Type: Regular (Short) Leverage: 3 Entry Zone: 495-500 Take-Profit Targets: 490-480-470-460 Stop Targets: 515 Risk: 10.23% Rate: 497
AShort
by ChartCrushers
EURGBP: BEARISH FLAG PATTERN FORMED AT DAILY TREND LINE !!!Hello Traders, After doing top down analysis on FX:EURGBP , I have couple of key ideas that I would like to share with you guys. First of all we can see a clear rising channel (purple in color) formed on the 4 hour chart. Do notice the 2 false breakouts that we got in that channel. I only consider any level being broken only when we get a valid retest after the breakout. In our case, only after 2 false breakouts did we get a valid retest of the channel in the form of a bearish pin bar. Currently we have broken the flag pattern and now we only need to wait for the 4 hour candle to close before shorting this pair. The primary target for the flag pattern has been labelled on the chart above. The stops will go above the top portion of the flag pattern (the line which was tested by the bearish pin bar). Secondly, if the market is able to come all the way back to the bottom of the rising channel, than we could also potentially have another opportunity to add onto our previously short position from the flag pattern. So, if we get a breakout to the downside in the channel, than we can look to short again at the retest of the broken level (marked by red dashed arrows). After all targets being reached, if you still have any short positions open, than you could probably hold it till we get down to the 0.69862 level, which is a strong MONTHLY support level. If we switch over to the daily chart, we see a clear bearish pin bar formed right at the falling trend line, which was drawn by connecting August 2013 and March 2014 highs. This trend line has proven to be valid after the market was strongly reject from it in November & December months of 2014 as well as recently in October of 2015. See the charts posted after this description for more clarification. Lastly, we are also seeing strong bearish divergence on the MACD as well, which just adds on to our overall bearish view on this pair. Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :) Follow me on Twitter-0.04% as well: moneymaking2016 Illustration of Bearish Pin Bar formed at daily trend line: Illustration of daily trend line importance: Illustration of valid bearish bat pattern:
Short
by moneymaking
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