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Buythedip

Beware the head and shoulder pattern nonethelessIn my last idea, I was confident about this moment, and I said it's a good one to buy some coins, but I wasn't aware of what might be coming. As we can see on the chart, after the last upward trend, we might be on our way to forming a right shoulder, which could complete a head and shoulders pattern and announce an even deeper pullback afterwards. From the TradingView Wiki Head & Shoulders Top (Bearish) 1. The left shoulder forms at the end of an extensive advance in price. The move generally occurs during a period of high volume . After the move up (peak), price declines to an extent to form a valley. 2. From the valley formed at the end of the left shoulder's formation, price then rises once again to a level that is higher than the peak of the left shoulder. This move is accompanied by either normal or high volume . Then, just like the left shoulder, price then reacts and falls again on low volume. The valley should be right around the same level as the previous valley formed at the end of the formation of the left shoulder. 3. The right shoulder then begins formation. The right shoulder in general is formed on lower volume than both the left shoulder and the head. The key aspect of the right shoulder is that its peak must be lower than the peak of the head. 4. Once both shoulders and the head are formed, the pattern is essentially complete. For the formation to be valid, a horizontal line known as the neckline should be able to cross through all three sections with the two valleys between the head and both shoulders resting on the line. 5. Now that the Head & Shoulders pattern has been formed, all that's left is price confirmation. If price proceeds to fall below the neckline , this is considered to be confirmation of the bearish setup. Indeed the left shoulder occurred at moment of high volume, and this volume has been dropping ever since, with a small increase during the forming of the head, as we can see on the chart. Furthermore, if the MACD fails to pick upward momentum, if might lead to a lower high, with a further fall in price. So this may be a good moment to buy the dip and to make some profit, but also the last one, at least for a while. That's why we should be on the watch during the next days and week to see how things develop, and that'll tell us how to act accordingly. We'll be on the watch to see if prices cross the neckline and if bulls fail to pick up momentum and finally a right shoulder is formed. For more information we can read the Investopedia article too, which offers good explanations and an educational video about this pattern.
COINBASE:BTCUSD
by UnknownUnicorn5586743
2
Ethereum BOTTOMED? Ascending triangle? BUY THE DIPHey there, definitely leave a like and share this post to help it spread! Ethereum has seen a pretty steep pullback from its recent swing high to the 240s. We have very strong, bullish wicks on the daily timeframe forming now a second reversal candlestick. The 4h chart bottomed prematurely on a 9-Buy (TD-Sequential) and is sitting on green count currently. Also we have the possibilty for an ascending triangle on the smaller timeframes, which would coincide with the strong reversal candlesticks on the daily. It seems so far like Ethereum is leading Bitcoin in bullishness and is curently down more than 2 percent less than Bitcoin. Also bulls seem to be more eager in buying the lows on Ethereum than they are on Bitcoin. Although Ethereum is looking more bullish, a bull move without Bitcoin also gaining significantly in value is not what I would look for and would have me concerned. I would like to see Bitcoin see dip buying, along with ETH also gaining momentum to the upside. I drew some key levels on this chart, on which I had and still have my eyes if we do see further drops in the price. I would love Ethereum to move to 230ish, where not only strong structural support is sitting, but where also the 0.382 fibonacci is currently at. We have to wait and see though wether that will happen. Until then, follow me on YouTube if you don't want to miss out on further information: @ Enlightened Trading and subscribe to my instagram: @enlightened_trading_ for some funny memes and daily updates! Cheers, Konrad
COINBASE:ETHUSDLong
by EnlightenedTrading
S&P 500, ride the pg.SPX so strong since 2009, probably a number of reason why but the why doesn't really matter. Although the chart looks very extended it's too strong to short imo. This kind of chart tends to trigger a psychological bias in us that it 'must' be about to turn around. In reality it might not. Bad news doesn't seem to dent it so it's not immediately obvious what will turn the tables. Trying to guess at that and time a short is not a smart trade. Better to hold it if you have it, or buy dips along the trend line. If the trend line breaks, maybe time to reassess.
FX:SPX500
by BobVanders
1
BTC Rallying above the Daily 200 MAThis is BTC Technical Analysis. Current price is in the $7400 region, which is up around $400 since the day started and is currently rallying. The BTC price action has been in the low $7000 range, since around about the 23rd November (wicking down to around $6400 &, up to the $7800 levels at times). The current macro trend remains as a downwards since the "blow-off top" in June 2019 (from June's high of around $14,000, down to September's low of around $7400 & high of around $10,000; & December's new local low of around $6400). Due to the current range trending, Traders can wait for a breakout of the current ranging price action upwards, to reach for a turn of the trend, from trending-down to up; or a continuation of the past trend which is downwards. Signal to identify a turn of the trend from Downwards, range-trending to, Upwards trending. When the 20 Daily Simple Moving Average gets above the 200 Daily Simple Moving Average, and the Daily candle closes above the 20 MA which is above the 200 MA - This signifies that potentially stock could start to aim for higher highs and reveal going long opportunities for Traders! Signal to identify a continuation of the Downwards, range-trending to, continue trending Downwards. When the 20 MA gets rejected by the 200 MA (the 20 MA comes up to cross over on top of the 200 MA, but it instead remains below the 200 MA) - This signifies that trend is continuing the current micro trend within a range, or that the trend is continuing the current macro trend which is downwards towards the next SAR levels, and skilled Traders may be able find more shorting opportunities in a downwards trend. Even the most skilled Traders always stay out of trading when price is not trending, but is stuck within a range of SAR (except for some Scalping Traders!). Have a look at COINBASE:BTCUSD . Add the following Indicators to your chart: 20 Daily Simple Moving Average 200 Daily Simple Moving Average On the current Daily & 4 hour charts, are you able to see where; Any time the 20 MA (yellow line) is above the 200 MA (orange line) , price action has a bullish sentiment? And, where the 20 MA falls below the 200 MA, price has a more bearish sentiment? Of course, experienced Traders will like to delve further into analysis before executing their trades, however the information presented here may be useful for swing or position traders seeking to buy the 'Bitcoin Bottom' & helping traders to decide whether to buy long or short BTC. As a Trader I seek to go long in uptrends, go short in down trends & I tend not to Day Trade within price ranges except for when the Market signals a potential 'fair-play', for some scalping action on the shorter time-frame! A Daily close any-day now, above $7700 & $8000's region would signify to me an interesting point of a potential turn of the trend to the upside, & where I look to analyse further for confirmations and entry's for long plays! I'd be expecting rally's with that breakout, I'd play entry's close the 20 MA and take profits as price rally's away from the 20 MA before it snaps back & retraces, back towards the 20 Ma. In this case I will go further with TA nearer the time. Where there is no confirmation of a new potential Macro Trend break upwards, no confirmation Daily closes above key areas of resistance, i'd analyse to confirm that indeed the downtrend has continued or that we continue into the current trading range, waiting for a breakout confirmation again!
COINBASE:BTCUSD
by Gabe_MCB
GTRONIC, Consolidating After a Breakout; A Trend Begets a Trend?Bias: Short term consolidation (pennant), with moving averages (MA) in bullish formation. Stop-loss: 2.00 // This region is the breakout point of the previous resistance, as well as whole number psychology effect. 1st target: 2.27 // Previous high as minor resistance. 2nd target: 2.46 // Projected target from fibonacci extension as well as major resistance region. Gentle reminder: Plan the trade and trade the plan. Trade at your own risk. Stay tune! Guys, if you like the idea, please "like" it, this will be the best thanks. If you have any questions or trading ideas, please post them in comments! Thank you for your support, we appreciate it. We also offer coaching lessons, PM for details. Public Telegram Group: t.me Our Facebook Page: www.facebook.com
MYX:GTRONICLong
by ShareWorldConsulting
DSONIC, Another Potential Reload??Unlike KRONO which posted quarterly results almost a month ago, DSONIC's results could be coming soon, based on historical Q2 release dates between 24th to 30th Nov. Similarly, DSONIC 's price had also experienced technical correction, and the drop slowed as price approaches support zone. However, beware of #quarter_results_bomb which might cause volatilty in either direction. Bias: Short term bearish, yet moving averages (MA) in bullish formation. Potential entry around 2nd MA, as well as whole number psychological support. Stop-loss: 0.965 // Previous resistance zone could be new support. If this hypothetical support is broken, high chance of stronger bearish correction as 3rd MA is much further away. #QRBombWarning 1st target: 1.18 // Previous high as resistance. May have further bullish potential if resistance if broken. #breakout Gentle reminder: Plan the trade and trade the plan. Trade at your own risk. Stay tune! Guys, if you like the idea, please "like" it, this will be the best thanks. If you have any questions or trading ideas, please post them in comments! Thank you for your support, we appreciate it. We also offer coaching lessons, PM for details. Public Telegram Group : t.me Our Facebook Page: www.facebook.com
MYX:DSONICLong
by ShareWorldConsulting
SERNKOU, Can It Deliver Another ATH?Bias: Bullish. Trading interest in SERNKOU has been increasing since early Aug as seen by the volume , and SERNKOU reached ATH of 0.980 exactly a month ago, on 4th Nov 2019. The correction following that had been so far healthy; there was a small rally after the price touched the medium period MA line. Now, the candlestick interaction with the key fibonacci level could be an oppurtunity. Stop-loss: 0.795 // The recent low point 0.800. 1st target: 0.980, 1.00 // Previous high as minor resistance, whole number resistance 2nd target: 0.520 // Historical resistance as major resistance. Gentle reminder: Plan the trade and trade the plan. Trade at your own risk. Stay tune! Guys, if you like the idea, please "like" it, this will be the best thanks. If you have any questions or trading ideas, please post them in comments! Thank you for your support, we appreciate it.
MYX:SERNKOULong
by ShareWorldConsulting
Bitcoin bullish scenario. Target - $12245Hi traders! Couple of days ago I posted bearish scenario. Time for bullish outlook for coming weeks ahead. After huge momentum to the upside we actually closed above the trendline which held well over 3 months. Now a re-test of weekly supply is very likely. Watch for that weekly close, do not rush into trades. Better to enter later once we get confirmation. :) Pay attention to the volume and where we bounced of. We have 89 Weekly EMA . It is the most significant moving average in bitcoin. If you take all history that's there and analyze the data, you'll agree with me on this. After analyzing the data, taking into consideration time - I'm more bullish than bearish as of right now. Some points to support my bullish bias: *In macro terms we are in wave V and 5th wave is the most verticle in crypto space. *0.618 fib was met with precision and we bounced hard from that level. We might not get lower than $7200. So our long entries should be located anywhere between $8600 & $8400 . ( Again, manage the risk according to your trading philosophy, less risky - wait for that weekly close and see what's next .) TP - $12240 SL - $7940 This is not a financial advise!
BITSTAMP:BTCUSDLong
by Patrikas10
Bitcoin Buy-The-Dip Bounce Trade OpportunityThere may be a Buy-The-Dip bounce trade opportunity from the Demand Zone. Condition: Strong price move upward in the Demand Zone and stay above it. If the resistance above (8200-8400) can be break through, this Demand Zone can be a medium term bottom. Indicator: 9 Seasons Rainbow Multi TimeFrames Pattern Signals: 3 Blue Ribbons (Strong Support) in 42m -85m If Blue becomes Purple, the support is broken. I appreciate your like or comment. Welcome to share your idea here. PM the author for trial of "9 Seasons Rainbow Multi TimeFrames Pattern". DISCLAIMER This is only a personal opinion and does NOT serve as investing NOR trading advice. Please make your own decisions, carefully assess risks and be responsible for your own investing and trading Activities.
BITSTAMP:BTCUSDLong
by go8686
6