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USD/JPY Buy cont'dUJ shot off the .618 level, which was ultimately the level I was looking to, then it gave a beautiful buy setup on 1 hr, then retraced to scare people... I would need to do a video to properly explain this, but I will try best I can. within its measurements and pattern it does have the possibility of making that lower shoulder I talked about. I have not been at my desk trading or I would have posted, but I am pointing out there were 2 possible entry points to get in this buy. The .618 by limit, or the flag. Entering now is not the correct place or time of day, however it is possible it does continue up from here
Long
by thillygoosth
ARDOR dropping. When do we buy some more?As most of the market is still going strong. ARDR looks like its doing a retracement after hitting an ATH well over 2$. With only 1 billion coins that are all in circulation, a solid team (team that built the NXT platform) and coming out of the test system into the live own block chain on the 1st of January, this project will have results to show in 2018. As for entry levels: - I am looking for a break of the 0.00012 on the downside, if this is broken I expect the price to go below 0.00010. - If the market goes in this direction I will start buying between 0.00009 and 0.00006 (green lines in the chart). I am long on ARDOR since a few months but with the markets cooperation I am looking to increase my position as 2018 is looking amazing for ARDR. Happy trading.
Long
by RaulPuiu
Ripple/Bitcoin: Bullish flag confirming CONTINUATION SOON?Hello everyone, here is my TA on Ripple. Looking at the current trend it's making, we are seeing a nice pullback/correction for its recent run up. Congrats longs! At this point, it is ideal to figure out where the price is going for the sake of our assets, dips, entries, or even exits... My TA tells me that the current pattern we are in now is a bullish flag , which would indicate a continuation of the recent bullish trend! The pole is the left green trend line of the recent uptrend and the down trend is the channeled two smaller green lines. The next green line is the expected continuation pattern (Hey, green is good!). You will see that I use three indicators that I really enjoy using: RSI, CCI, and MACD. We are noticing quite an interesting pattern of an uptrend followed by a correction, then another uptrend! My analysis is trying to pinpoint if this will pullback further, or break out. Judging by the RSI, you can see the light blue arrows that are pointing up indicate an uptrend and if we look at the recent up trend that began ~January 2nd, we see the RSI hit a bottom and then shot up. The even earlier uptrend on December 31st was a low RSI followed by a sideways trend for a few days. Price went from approximately 13k sash to 21k sash. Using this history, we also see that the CCI has hit a low and then came back up, as well as the MACD crossing and diverging to confirm the uptrend. Now, we are reaching that same point, as the MACD is hitting a low both similar to the sideways trend on December 31st, 2017, and January 2nd, 2018 (Happy New Year!) On top of that, the CCI is also reaching super low to the same area as both of those lows on their respective dates. Now, it's a matter of: will this drop and go sideways for a few days or will it come down and make a new uptrend soon? My first option is that if the flag finishes forming, it will hit bottom close the support/pressure line I drew which was ~16k sash. To confirm, I drew fibbonaci retracements from the peak of the uptrend to the low of the uptrend, and surprisingly (and confirming-wise), that area would actually be a .236 retracement point. The area that the price is very close to now is a .382 retracement point, so if that does break through, we may see it go to .236 retracement or ~16k sash. If not, we should expect a breakout now or very soon as all indicators point to a high level of exhaustion on the downtrend, where my aim would be ~35k sash. My second option is that if the price breaks through to that retracement of .236, it will move sideways for some time, similar to the trend on December 31st...then we should expect a confirmation of a breakout/continuation to ~35k sash in the coming hours/days. This may look like a cup and handle pattern, which would confirm bullish continuation, but the volume on the left half of the cup appears to be less than the volume on the right, and the handle appears more than 50% of the height of the cup. Therefore, I don't believe this to be the correct pattern. My conclusion: If I were invested into Ripple NOW, I would hold and accumulate on the possible downtrend, waiting for a confirmation for the continuation (CCI passes 0, MACD crosses and diverges, RSI follows arrow up). If I were to enter Ripple (and I might), I would keep a close look to see if I could enter on the downtrend or simply enter early into the uptrend because it will go much higher. The reason why I would watch first, is because I need to witness a confirmation of a trend reversal from this bearish trend before entering...this will help avoid any unnecessary losses due to FOMO,FUD, and psychological barriers. Overall, I am bullish! Best of luck and thank you so much for reading this!
Long
by Eurocrem
10
The markets are there to make you feel stupid or brilliantMany a trader will have made their best analysis based on information at the time and then taken an entry position, only to find that the market does something unexpected. Price may move violently in the wrong direction i.e. not the favoured direction and comes close to a stop loss or actually stopping out the position for a loss. Now with hindsight a trader feels or thinks, " How stupid - I should have seen it coming. I shouldn't have done that. " This happens enough times to new traders. Seasoned traders live with it and have less such self-talk. I think it's important to acknowledge those feelings. These are partly thinking processes and emotional processes. New traders often feel demoralised after 10 or so failures in a row. " Am I doing something wrong? " - they may think. This is a reasonable question. It could be that something is wrong. However, nothing may be found wrong with one's methodology or application of one's personal rules - after a careful reassessment. It's good to check. The BTCUSD chart shows what is some sort of 'head and shoulders' pattern. It's not the best picture of it in the world but something is there. Wherever one takes a position in BTCUSD, it could be wrong. Why? The markets respect no one person. A proportion of traders will have taken a position in this and made some real profits. They will punch the air and with joy go, " YESSSS!! " From my long experience I've learned that 'feelings' of being right or wrong, actually bends the mind a trader. I'm speaking for myself quite clearly. Others may have similar experience. A feeling of being good after a string of wins, often creates a subconscious sense of confidence. Imperceptibly this can creep into future trades and then one realises some major losses. My own strategy is to try at best to reduce trading frequency and exert even greater diligence in entering trades after a series of wins. I aim to expect the unexpected. It's always a tad difficult when I get stopped out for a loss. But I repeat to myself that the stoploss is there to protect against the 'unexpected' - so it's not actually unexpected. It is a limit. It is the expected limit of price moving not in a favoured direction. There is no single path to 'a promised land' in trading. Traders can adopt different methods, different rules, and be consistently profitable. The largest obstacle which is difficult to train out a trader, is their own personal psychology . By this I mean things like attention to detail, biases, emotions, discipline etc. So in many ways feeling stupid or brilliant can affect our future decision-making in imperceptible ways. Traders can lose discipline after losses or big gains. Mark Douglas spoke about these sorts of things. The BTCUSD chart is not intended to attract thoughts on whether to go long or go short. I'm not really interested in whether the H&S is there at all or correctly drawn. I'm taking it beyond that. What happens next to traders who come out of this period - some bruised, some overjoyed? Trading is not about winning one trade or a small handful. It's about the long road ahead. I'm delighted if others can share their experiences.
BITSTAMP:BTCUSDEducation
by Captain_Walker
Bitcoin BTCUSD Entry points for shorts: Clean chartBitcoin: BTCUSD Trading The Breakdown The massive head and shoulders top formation that has been building since the weekend highs has been completed today. Though quite loosely defined and with two potential neck-lines lying 300 points apart at 15814 and 15509 the pattern is undeniably bearish for the next 24 to 48 hours by look of the chart. But in very near term Bitcoin is staging a counter-rally which has taken it back to the upper neckline at 15814 where it's meeting resistance - it will now have to push on through here and hold up to trigger a further unwinding of shorts back up to 16447 and into the upper parallel before it crashes back down again. But whilst unable to beat 15814 and hold Bitcoin is vulnerable - a sell from 15800 with stops 60 higher for small loss if wrong and it can beat this level and hold - in which case it should rally a further 800 points to the upper parallel and then come off from there - so presenting a second chance to short from highest extreme likely with a stop about 80 points above the patrallel. So two chances to short from here. It should fall away from 15814 (and from 16447/upper parallel at highest) - to test 14040 at least and more likely 13086. The minimum downside target implied by the head and shoulders is 11391. The blue lines of support and then resistance have been working OK so far since the descent began - as usual a fall below any line by more than 25 points or so should lead to further weakness to the next. The new parallels guiding this descent are wide and strong - wider than any of the up-trends on the other side of this mountain. It's big. Obviously. The chart shows it clearly. Right now Bitcoin is making a little continuation pattern - under the neckline - it will fight at 15000 and just above - a lot of orders still determined to buy at this round number - but they are matched by equally determined sellers at 15814. Eventually the bears are likely to win...use any last rally up to 15814 as a selling opportunity with stops just 60 points higher for small loss if wrong, looking for a fall to 14035 initially, then lower still, as above. If not already short any break below 15000 by more than 10 points can be followed for a fall to 14040. And when this gives way another short opens up, this time to 13086. Or look to use this little rally attempt to sell from 15500 with stops 60 points higher *Stops - cannot be used in traditional manner with Bitcoin. You have to keep a stop number in your head and set an alert so if it comes within 50 points or so you get a notification and then have to watch to see price action: is it a spike down to your level and quickly bought back up or is it sticking... be cold, emotionless, machine-like. Easier said than done sometimes.
BITSTAMP:BTCUSDShort
by sumastardon