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Elliot Wave Analysis on BTC-USDTHello Traders I have done my best to present accurate and real time illustrations as the story unfolds. Welcome to Buy Dips and Eat Chips. Elliot Wave analysis usually works in 3–3-5 meaning ABC-ABC-1-2-3-4-5 movements. This method is used to accurately predict trend continuation and reversals. The chart above shows the replicated move for Elliot wave structure. From my perspective the cycle has now reset and we are in wave B of the sequence. About to retest the support for the third and final time before breaking up to downward sloping resistance of our triangle. (White lines) A mentor once said “when you don’t have to worry about what happens after placing a trade, that is when you know you are doing it right” *Apply Stop Loss *Wait for a retest to enter a trade position *Take Profit is better than No Profits *Don’t revenge trade / FOMO in middle of trends *LONG THE SUPPORT - SHORT THE RESISTANCE *Have your trade parameters defined/written down for both BULL and BEAR situations before entering position *Sometimes the best trade is NO TRADE - volatility sweeps happen often in zones *Log your trades and WHY they succeeded or failed. Do this over and over and over. If you like some of the content please follow and like / comment your ideas !!! Happy Hunting.
Long
by Fabreezio
1
Bearish BTC-USDT PredictionWe have a clear recognizable pattern of bearish flags, if BTC shoots up higher I will have stop loss @$39,500 using reverse grid bot with leverage. Overall if we see the continuation of bear market below EMAs and RSI divergences, I foresee this playing out as bull trap after bull trap. Ultimate target for take profit is $28.5K while catching the Fibonacci swings along the way up and down. We shouldn’t see too much push for above $45 K unless the MACD and volume increases massively tomorrow. Otherwise we fall short of our target to close the weekly and the daily FORSURE. Safe Trading, feel free to comment below your next 3 price predictions! *I am long term bullish but seeing BTC from a monthly and weekly perspective makes things way clearer. Understanding the 4 year market cycle is HUGE as we are in distribution/accumulation phase 1 after the huge bull run.
Short
by Fabreezio
2
BITCOIN - Support Broken Downwards - Timing is Key I’ve been analyzing the trends of BTC and have been using leveraged reverse grid bots to make money while she goes down. Target price is $34k-$36k if we pass by the $38k minor support. As my peers have mentioned the volume and support around $34-$36k is healthy and will support further uptrend. If we can break $47,000 that will signify bullish pattern. Currently using Pionex, it’s amazing platform and lets me leverage my investment up to 5x but BE CAREFUL, you lose faster than you win in most scenarios. Happy Trading everyone!
Short
by Fabreezio
Currency Markets Cautious on Trade DoubtsSafe-haven currencies rose up in the currency markets as trade doubts dominated the market. The uncertainty came after reports suggested China was becoming hesitant to strike a deal with the US. The Japanese yen, which is a safe-haven asset, gained 0.1% to 106.79 per dollar. The Chinese yuan, suffering from trade war tensions, lost more than 0.3% to 7.1356 per dollar. Onshore yuan trading is zilch on Monday as China celebrates its national day. The Australian dollar and Korean won also slipped as doubts lingered in the market over trade negotiations. The British pound sterling didn’t move much at $1.2325. Investors are trading the royal currency as Brexit uncertainties still loom large. British Prime Minister Boris Johnson is now aiming for huge changes over the issue of the Irish border. The EU and Ireland said last week that Johnson’s proposals would not probably result in a deal. Trade War Pummels the Currency Markets Reports over the weekend suggested that the Chinese side weren’t as eager as before to hammer a deal with the US. According to sources, Vice Premier Liu He told dignitaries that his offer wouldn’t include commitments on reforming Chinese policy or subsidies. The Trump government has been pursuing those conditions as main demands in the trade talks. Trader tensions have also grown after reports showed that US officials were considering some curbs on investment in China. Among these curbs were the blocking of all US financial investments in Chinese firms. However, US trade policy director Peter Navarro denied the claims and branded them as “fake news.” This Monday and Tuesday, deputy-level talks will take place. Meanwhile, higher-level meetings will take place on Thursday and Friday. In those high-profile meetings, Liu He will meet US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.
TVC:DXY
by Financebroker
Yes there's GBP strength, I'm looking to short soonWith all the GBP strength over the last several days it probably seems crazy to think/talk about shorting GBP I'm going to do it and you can't stop me. I've already made some good cash buying EURGBP this morning, GBPUSD is next on the chopping block. I want to see this move 100'ish pips higher then i'll be looking for some short term trend line breaks to sell. I love trading back to the 200 ema on the 15 minute chart and that's what I plan to do here. I'll have a new trend line drawn at some point in the next 24-48 hours but if we see 1.3530-50 area I'll be selling. See chart for details....
Short
by JaredJJohnson