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Consolidation-breakout

The GBPUSD Fails to Break ResistanceWe last posted on the GBPUSD on April 17th when price was testing and attempting to break throught the pivot resistance high of January. What we wanted to see was price break and close above this pivot resistance confirming it as support. This would then have offered a long entry into the trend with around 600 pips of profit on the table towards the next key resistance of 1.5000. But the breakout did not materialise and, instead, we can see that price made a swift turn around. The bears came in strong and have pushed price back to the support cluster of the 50SMA and the round number 1.4000. This keeps price within this current area of consolidation and so we still require a breakout. All is not lost. The overall bias is still bullish with price trading above the daily 200SMA amongst other key support levels. In addition, periods of of consolidation make an excellent foundation for trends to develop. Remember, the longer the consolidation the bigger the breakout as the expression goes. It is now a waiting game to see of price does breakout to the upside where we can add new positions to the long position already in play or if price weakens back to the 200SMA where we will look to exit our trade. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
Long
by Sublime_Trading
Bovis Homes Breaks Out As ExpectedBovis Homes has broken out of a strong resistance level which was set back in 2007 at £12.20. In our previous post we mentioned that we could see a breakout soon. The reason was because we could see price making higher lows leading up to the move towards the resistance level. We now have that breakout we were expecting so what we need to do next is ensure that this is not a fake breakout. The way we do this is by waiting for another breakout on the daily chart which will tell us that the buyers are stronger than the sellers. Breakouts are an easy and effective way to determine which direction the market is likely to go. If there is a second breakout then we may see a strong trend develop following the consolidation. The longer the period of consolidation the bigger the trend we can expect. As price has been consolidating since August 2015 it would not be surprising if the trend lasts for a year or more but there is no way of predicting that. It would also be nice to see a trend with small pullbacks and frequent breakouts . This stock should be on your watchlist as the opportunity to trade this may be coming soon. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
BLong
by Sublime_Trading
EURGBP Fake BreakoutEURGBP broke down through the consolidation support level only to return back to consolidation again. This forex pair has been in consolidation for some time now and rarely trends, but when it does trend there is usually a lot of profit for the taking. At the moment, price is above the Weekly 200 simple moving average and below the Daily 200 simple moving average so this is giving conflicting messages. We want both timeframes to be telling us the same information to have confidence in knowing which way to trade it. When we are getting mixed message we want to stand aside. If price can break through the consolidation resistance level then we may see opportunities for long trades but price will first need to move above the Daily 200 simple moving average. Right now we must stand aside and wait to see which direction price breaks out of the consolidation area. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
Long
by Sublime_Trading
No Change on The USDSGDWe last posted on the USDSGD on March 27th when price was firmly range bound between pivot resistance from September of last year and the round number 1.3000 acting as support. There has been no change on this since then and price has continued to side wind between those levels of support and resistance. Price is our, and must also be your, primary indicator. We can clearly see that the USDSGD is in consolidation looking at price alone and when you should be standing aside. The EURUSD and the GBPUSD continue to remain range bound too and also require breakouts. Where many go wrong is using lagging indicators such as MACD or RSI to try and predict what price will do next. It is a false economy. Price is best placed to dictate what to do next rather than using a lagging indicator to predict. A good tool to CONFIRM that price is in consolidation is the daily 50SMA. When in a trend, we want to see the moving average following price and angling up or down depending on the trend direction. Looking at the daily chart, we can that the 50SMA is going sideways conforming price is in consolidation. As price is trading below the daily 200SMA and the daily 50SMA, our bias is still very much bearish. We are already short on this currency from the start of the year and now waiting for a break and close below 1.3000 support to suggest a continuation of the bear trend. This is when we will look to add compounds as price weakens further towards 1.2000. Remember, to be a trader, you do not need to be executing traders every single day. That is what your broker wants and will encourage you to do. Instead, trade when trends are in play and stand aside when not. The best timeframes to establish trends are the monthly, weekly and daily. Patience, a feature for both FX and stocks, very much needed for now. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
Short
by Sublime_Trading
IOTA short consolidation & newsBITFINEX:IOTUSD has been doing really great recently, there is quite much of activity around this project and I will mention some of the upcoming events below. BINANCE:IOTAUSD has been in downtrend for a long time, but nothing unexpected since BITFINEX:BTCUSD has been going down. I watched the run IOTA made from 1 $ till 5,5 $, so let's see how things will develop now and where it will get us. We could see on the chart that IOTA broke the 2 $ resistance line, but not long after, it came back to where it was. It is staying solidly around the line of 1,95$-2,02$, which is a good sign. This is just a small consolidation, then we will see next up. We could see the three following resistances, 1st at 2,20$, 2nd at 2,60$ and the third could possibly just be a fake breakout, so we should be careful about it. But first, let's see how things will develop with the first resistance line because it is the most important one. News: Official Bosch Press: Bosch turns Chinese cities into SmartCities with IOTA! twitter.com Events are as it follows: 1 March 2018 - Founder of IOTA speaking at an online conference - Crypto Virtual Summit. 14 March 2018 - SXSW Conference - Dominik Schiener will be speaking with Ayelet Noff about building a machine economy with IOTA. 16 March 2018 - Business Plan at BBCTokyo - Presentation of business plans at the Blockchain Business Camp Tokyo. 31 March 2018 - Partnership w/ AV testbed - "Q1/Q2 2018 is when we start announcing some of the partnerships for AV testbeds.". 31 March 2018 - Trinity Wallet Beta.
BITFINEX:IOTUSD
by S-Axiomatic
Bitcoin Cash (BCH) Consolidation Over. Now oversold?I'm looking at the BCHBTC charts and it's looking like the consolidation period is coming to a close. BCHBTC recently established found resistance at the 0.15 level showing that it was overbought according to the RSI and Stoch RSI shown on the chart. While BCHBTC is not showing that it is oversold on the RSI, it is showing that it's oversold on the Stoch RSI. The fact that it's approaching the right corner of our triangle paired with the BTCUSD bounce could lead to an upperward bullish breakout. What we're looking for is an upperward trend in price, an increase in trading volume and an upperward sloping RSI/Stoch RSI. I'm not seeing any movement yet, but I'll be looking for an indication over the next few days. I'm currently long on BCHBTC because of the BTCUSD bounce and the oversold indication. Higher-cap coins will likely do well as BTCUSD continues upwards (as long as it follows previous trends. I'd like to hear your thoughts on BCHBTC ! Where do you think it's headed after this consolidation period? Are we headed for a bull run or will the bears take it to the lower support? Please comment below, as the more input we see, the more informed we are! *** This is not a recommendation to buy or sell, this is for educational purposes only! ***
BLong
by dsgorthy
XLM TA of previous breakouts and consolidation prior to themThe last few XLM breakouts have occurred after an extended length of consolidation prior to the run, similar consolidation is occurring again along the length of the channel support so this continued development is something to watch. See the charts highlighting the consolidation zones just prior to the previous breakouts in comparison to the current consolidation happening where XLM is currently. Take note however of heavy sell wall containment of runs past .00004500 satoshis, a potential breakout would require increased volume to breakthrough sell wall containment.
Long
by HODLmyRocket
1
LSK -- A Buy while ConsolidatingHi readers, I wanted to take a look at LSK before the 20th -- when its set to blow up (The 1.0/Rebranding/RE-Release). This will create a lot of hoop-la. I'm rather certain we will see some liftoff before hand, and I imagine the day of we'll see some crazy volatility -- making having the asset in hand great if you're ready to trade quickly. Right now we can see the LSK market consolidating. Certainly some of this is the fault of action in BTC. Being as my analysis in The Trend has us Bullish on BTC, the correlation of the two coins has been positive, with LSK usually outpacing it on its moves. That sure sounds like the makings of an explosive move for LSK in the coming week. I recommend you find a good buy-in and execute on it. Naturally I have highlighted the 23% fib as a good buy. I don't know that you'll get a good chance below that. I recommend taking this chart and "Making it mine" to see if you agree. I'm confident you will, with very little research on this one.
Long
by blessmywork
3