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XRPUSD appears to be at apex of descending triangle patternbased on the resistance confirmation price action has been getting on xrp recently I'm confident the real top trendline of the descending triangle pattern xrp is currently in is likely the one we are finding resistance at now...if that is the case we will likely break above it and out of the pattern sometime this week or next and the breakout target is $1.30. I have left the other potential top trendlines on the chart with their respective breakout targets as well just in case it is not the official top trendline of the triangle. If we are to break out of the triangle here and move to 1.30 that will undoubtedly trigger the long awaited 1 day golden cross as well which will likely lead to even more upside. If it follows ltcs lead exactly we could then see xrp raise 118 percent from that golden cross before a correction. of course moving from .33 to 1.30 will already be a gain of over 400% though which would be absolutely massive if it were to occur.
BITFINEX:XRPUSDLong
by DrDovetail
7
forexTrdr Gold- DESCENDING TREND, 3X LOWER HI + OVERBOUGHTGood morning traders, Looking at gold versus US dolllar here after the weekend news of Trump looking to escalate trade tensions with China, completely against what the business media had been suggesting last week of a deal being finalised this week. Fake news it appears! Needless to say markets were risk off and gold has spiked back up to resistance levels around 1282-1285 where it has steadied. On our trading view chart we have highlighted a descending trendline forming on the upper wicks from three spikes forming a series of lower highs. Unusually for us we have provided a secondary chart down at the bottom of our trading view chart to show hourly moves which show the market has met resistance around 1283 area today and is currently pulling back slightly from that region. This is in line with a trend forming on RSI and an overbought status on stochastics. This week looks like it could be a challenging week driven by Trump China headlines so we will be looking to keep our lot sizes low playing risk close to home. If the trade plays out as we expect we would be looking at levels around 1272 to take profits giving us a 2.4 risk/reward. As always we try to keep our analysis clean and easy for anyone to be able to follow but should you want to learn more then please do get in touch for more trades. Comments and feedback are always appreciated from anyone in the trading community Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
FX:XAUUSDShort
by forexTrdr
forexTrdr EURNOK- NOK THAT PAIR BACK DOWN FROM EXTREME LEVELSMorning traders, This morning we have had the Swedish central bank come out and delay interest rate rises with market now pricing no rise until early 2020 (from mid 2019). This has had a secondary effect on the Norwegian Krona leading to a 700 pips drop versus the Euro. We are looking to capitalise on this move into extreme overbought territory and looking for a pull back into the previous trading range of 9.55 to 9.60. The spike bounced off of resistance levels dating back to early 2019 and forming a descending trendline from previous high levels in April and early February as shown in our Trading View charts. Simple clean trade on event driven news. As always this is not a trade recommendation and simply technical observation. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Short
by forexTrdr
ABN short term green, returning to red in a weekIt's clear that ABN is in a somewhat broader downtrend in a descending wedge that will break eventually, but until then it will bounce within these lines. Two resistance levels are upcoming. A resistance line within the 20.95-21.05 range and the downtred upper line. RSI is also rising really quickly but with lower tops. Could well be green until monday 8-apr-19, but looks bearish after. Will be keeping and eye on it. If I see a clear rejection at either of these two levels, I'll trade on it.
EURONEXT:ABNShort
by VOC-Handelaar
XRP looks mega bullish! Potential targets= .39 .79 & even 1.53?XRP has officially closed 2 weekly candles above the top trendline of the weekly green descending triangle pattern that it has been inside for most of the bear market. the projected breakout target for this triangle if triggered could take us as high as $1.53! Considering the falling wedge breakout target on the Total market cap of crypto's weekly chart is showing a breakout target that could triple tp quadruple the entire crypto marketcap, XRP rising from 30 cents to $1.50 is definitely not out of the question. There is also a smaller descending triangle pattern indicated with a purple top trendline...it shares the same bottom trendline as the the larger green descending triangle...a breakout from it suggests a target of around 70 cents....and finally the smallest potential breakout target is 39 cents which is the exact breakout target of a inverted head and shoulders pattern (not shown here) on the 1 day chart of which price action is currently well above the neckline of. As long as we maintain the 1 day charts 50ma as solidified support I think its likely we will hit all 3 price targets with periods of consolidation at each target along the way. Looking at the weekly stochrsi we can see it still has plenty of room to travel up further as well.
BITFINEX:XRPUSDLong
by DrDovetail
AUDUSD - Potential short coming into play. So after the flash crash seen on the 3rd of January, seeing the Japanese Yen soaring, we saw price recover back above the 0.69750 psychological price region. A higher high was created followed by a higher low as anticipated. A higher high is created around the 0.73000 region, seeing a 2nd touch of the descending trend line, followed by a lower low and lower high as expected. This created the classic head and shoulder pattern and we saw price price tumble from the 0.72000 region to the 0.70055 region, creating a new lower low. With that being said, a lower high should be anticipated to follow the downtrend. We breached the 0.70250 monthly key, however we were unable to close below it with enough bearish momentum. Price looks short term bullish for now looking at the daily and 4HR time frame. Today looks indecisive as where price wants to move, however we re sitting on the 38.2% Fibonacci level. This may give us a better buy entry for INTRADAY traders seeing 0.70250 met once again before moving towards the 61.8% which is my favoured entry to go SHORT. The 61.8% accompanied with the 3rd touch of the descending trend line as well as creating a double top formation seen with the 28th of February candlestick. This zone shown hi lighted is also seen as clear resistance/support in the past. Downside targets will be around the 0.69000 price region. However, if this trend line is not respected, my bias will change to long with a break and retest of the trend line. This short analysis will then be invalidated. Long term I do see AU rising, however for now, my bias remains short. Thanks for reading and if you have any questions, head over to my instagram : keownarcher
Short
by KeownArcher
XRP falling wedge longer than originally thought…no breakout yetWhat started as a 4hour falling wedge that appeared to breakout but hit nowhere near its projected target is now seeming more and more valid as a considerably longer 1 day falling wedge instead of which we have not broken out of yet. If this is indeed the case then it's possible that we may not see xrp break up from this wedge until we revisit 28 cents r possibly even as low as 23 cents which would be a zone that could provide a massive double bottom along side the falling wedge breakout. we will have to wait and see but at this current time it does appear the adjusted trendlines here for the longer wedge are now more valid than the previous wedge. Of course we also currently have a potential Inverted head and shoulder on the 4hour chart that could play out as well as a descending triangle on the 4hour that comes just after a nice bullish green candle making that pattern bullish....both of these patterns could potential send us upward and nullify the chances of a longer falling wedge but the 1 day stochrsi suggest we will be headed slightly further south still and this new longer wedge does seem to line up with btcs falling wedge timeframe a lot better too.
BITFINEX:XRPUSD
by DrDovetail
3
Ripple/ USD Daily AnalysisWe have a double combination with a zigzag as the y-wave. It also seems to be creating a descending wedge which is going to be Bullish after the e-wave of wedge is completed. Base on Elliott wave 2th wave can't retrace more than beginning of the 1st wave ( 0.25170) so I assume that we have a wedge with a uncompleted e-wave. we have another possible trend line ( green line) that could be the end of the e-wave ( for wedge) or (c)-wave ( for zigzag).
BITFINEX:XRPUSD
by UnknownUnicorn3397093
GERMANY 30 UPDATE 27-12-18DAX has finished the descending triangle pattern! target is reached so a very nice pattern on mid/long term scale. Right now we are in a difficult situation just like nasdaq. Dax is moving around some very important support areas and it broke several important trend supports. It is very clear that DAX finished the 5 bullish Elliottwaves and that we are now in a bearish correction wave. But there is this big potential of it turning into a new Elliott wave that could push Dax, just like nasdaq, in a real bear market or a big crash. Important to monitor the heavy support areas. If these break it can easily become a third wave where we could see even more volatility and heavier drops.
OANDA:DE30EUR
by Aurelius222
bitmex bearflag still valid but may act as descending triangleOn bitmex the original bear flag with the descending triangle pennant is still valid but the descending triangle of it is getting larger and larger and will soon be too long to be a bear flag and will likely act as just a descending triangle instead. If we break down from it it is more likely that we only drop the length of the triangle than it is that we would drop the length of the pole. Let's keep in mind falling wedge and and inverted head and shoulders are still in play on the bullish perspective so its anyones guess what out of all of them will trigger and confirm most valid.
BITMEX:BTCUSD.P
by DrDovetail
2
Wakey wakey Bears, Bulls are waving a pennantAs the resistance at the top of the descending wedge was broken, a quick redraw reveals a pennant. Bears have been sat adding to their shorts as they become increasingly confident the price will drop sub 6k inside the descending wedge they all have drawn up on their charts. Blind to the fact that a pennant has been painted, if they don't start to explore other possibilities, there is a good chance they will be liquidated into hibernation.
BITMEX:BTCUSD.PLong
by paulflint
BTC appears as if it will be breaking upward from desc triangleThe breakout target for this triangle break is only high enogh to get it right on level with the first green 4hr candle of the triangle. So if we don't continue up from there once the target is reached we may consolidate some more and the descending triangle pennant may then morph into a standard bull flag. Of course we could also continue upward from there but I have a feeling 7k is going to provide some psychological resistance once we reach that range and more consolidation is likely from there.
BITFINEX:BTCUSDLong
by DrDovetail
1