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S&P 500 Index Buy Set Up off Swing LowsS&P 500 Potential Buy Set-Ups Clear continuation pattern as it rinses out every stale bull who jumped in at the first big impulse wave upwards and on the wrong side of this now...should make a sweet double bottom or close to - the first long is a speccy buy with stop either under today'slow at 2615 or at lowest under that last low to left of chart at 2590 - and it's another buy/add on breaking of the upper parallel. So long as this holds at the lows today it will rally back to the highs and beyond - a 10% rise...this would just be the start and we can potentially get in close to the swing low of a major and very rarely occurring dip - last one was 2 years ago precisely.
SP:SPXLong
by sumastardon
1
Nasdaq 100: NAS100 Still Positive From Here - Next Buy PointsNasdaq 100 Index Update The minimum upside target at 6694 was met and the next, at '6787 at best before it falls away again' fell 12 points short with the high of the day at 6675. Since then Nasdaq has fallen away in a little continuation pattern that signals further upside in store. It's just exiting the pattern and can be bought again with stops below 6560. Or can wait for stronger confirmation once 6614 and the dynamic above it has been broken above and held on retest. Should then rally to 6673-6694 range and then once this this range is passed - after a period of consolidation here - should rally to 6787-6800 and then back to the highs. Nasdaq only turns negative again if the lower parallel supporting price gives way at any point form here.
FX:NAS100Long
by sumastardon
Bitcoin BTCUSD Next buy points from hereBitcoin. BTCUSD After spending an hour or so dancing between the two bigger parallels Bitcoin finally broke higher when China opened, and buyers drove it in a straight line 600 points higher in 15 minutes of frenetic buying, seen in the strong green candles on chart - and rising up through 4 blue lines of resistance before peaking and now falling back to where we were at the start of this break yesterday. Frustratingly the advice to raise stops on longs to break even was too timid (at 14250) and so apologies for losing out on a good trade, as so often, when China kicks in. (it was getting late, UK time and had to protect the position overnight - honestly would not have had to do this if not for time factors - think need to shift sleep patterns if a UK or European based trader to somehow last up to around 3am UK time - otherwise so many good moves are missed - but then some great moves start at 5 to 6am UK time too...it's not easy to decide) There is no trade still - but that little parallel it's working down now may present an opportunity to go long once it's broken to the upside, with stops under the parallel by 100 points (either follow quickly on exit of the upper parallel or wait for a retest from above once broken) - at around 14200 with a stop 50 to 100 below. Otherwise we can wait to see if there is another test of 113542-13456 zone to try another long from here.
BITSTAMP:BTCUSD
by sumastardon
GBPUSD: Two ways to trade this pair from hereGBPUSD Two Ways to Trade this pair right now Testing imprtant resistance from the upper parallel of the flag formation. Can be shorted with stops above the upper parallel for small loss if wrong and can also be shorted from lower down by using a break of he little speed line running under recent the lows as a trigger - looking to short on a retest of this line from the underside, once broken. This is a speccy sell, only here because the loss is small (10 pips) if wrong. And if so, and the upper parallel is broken through and held by the bulls on the retest it will be the signal to reverse, looking for quite a strong rally (not many look to be long here by shape of chart, mostly disbelievers in GBP, still left over from Brexit...the slow-witted, really slow- witted) which should take Sterling to 1.3599 minimum and 1.3633 maximum in near term. The alternative is to await the outcome of this battle, and side with the winner: one of the two dynamics will break - up or down - follow that break when it comes, on the retest, with stops above/below the dynamic once broken.
by sumastardon
1
Wyckoff's 'Composite Man' showing his handCrypto is still the wild west, even with the adoption that has happened so far; here we can see a huge wash trade unfolding in Ripple. To copy from stockcharts, here are Richard D. Wyckoff's remarks on market operators (the composite man) and wash trading: -The Composite Man carefully plans, executes, and concludes his campaigns. -The Composite Man attracts the public to buy a stock in which he has already accumulated a sizeable line of shares by making many transactions involving a large number of shares, in effect advertising his stock by creating the appearance of a “broad market.” -One must study individual stock charts with the purpose of judging the behavior of the stock and the motives of those large operators who dominate it. -With study and practice, one can acquire the ability to interpret the motives behind the action that a chart portrays. ----Wyckoff and his associates believed that if one could understand the market behavior of the Composite Man, one could identify many trading and investment opportunities early enough to profit from them. If you are looking to make large returns on the XRPUSD or XRPBTC pair right now, keep a tight stop-loss and consider the (lack of) forces behind this sudden momentum. It is interesting to see how the XRPUSD price has been kept in a very tight range for so many months and over the last few hours pushed to a breakout. With analysis of volume and price action I believe it may be possible to measure if something is being manipulated. Which could be valuable information if you would like to join such a force. If anyone is interested in working on a project regarding this please message me.
BITFINEX:XRPUSDEducation
by mcbw_
1
GBPUSD: Flag formation signals more GBP strength in offingGBPUSD Another Dog that hasn't Barked Today's price action shows big spikes either side of current price, denoting uncertainty on both sides of this fight. But GBP has stood strong as the Dollar surges...what is it likely to do when the Dollar stops? Sterling has spent all year defying the bears. By the look of the flag now forming that situation looks unlikely to change. Two strikes (another retest is fine if it happens soon) means that so long as the lower parallel continues to hold up today in the face of DXY strength GBP is a still a buy at these lower levels with stops below the parallel for small loss if wrong here. And if so, and the lower parallel of the flag does give way GBP will likely fall away to 1.3237-1.3223 and then bounce from there. As things stand though, GBP is showing underlying strength despite current weakness - and that will remain the case so long as the flag formation remains good. Ultimately GBP should hit 1.38 and above - about 500 pips upside and 30 or so down
Long
by sumastardon
Silver: XAGUSD Look to buy dips,, ready for Dollar break-downSilver: XAGUSD Look to Buy Dips It's just about bearish enough to go long here. But no one seems very interested. It's likely to need the dollar to break below it's lower parallel (see DXY comment for back-up to this trade) before interest picks up here. One thing it has in its favour is those pin bars forming off the dynamic support shown on the chart. It's clear we cannot turn negative on silver unless that line breaks. Don't think it will though, expecting DXY weakness to save silver and propel it higher from here. It's a buy on dips back to the dynamic support line and it's a second buy on a break above 17.05 on dips for a rally to 17.25 minimum and more likely to 17.42. It will then need to break above 17.46 and hold on the next retest to trigger next long from here to 18.2. Stops for longs need to be 15 pips under the dynamic support line to avoid whipsaw. Silver, like gold, is a buy dips market for now - turning aggressively bullish of both when DXY breaks its lower parallel.
OANDA:XAGUSDLong
by sumastardon
Dollar Index: DXY Update and Key levels for next breakDollar Index: DXY So far DXY is displaying precisely the kind of technical price action you'd expect of something in the process of breaking down lower...the tiny continuation pattern with a bearish upwards slope, every move contained within the parallels that control this inverted flag formation. The dollar will try to rally from the lower parallel of the flag so we need to step off the gas around now if shorting USD across the pairs. Contrarians may look to go long USD again here but be careful if you do...at some point soon DXY is going to fail, breaking below the lower parallel - the point to go aggressively short USD again and to go long Gold once more, looking for 92.62 on DXY and 1305 on Gold.
TVC:DXYShort
by sumastardon
Brent Crude Oil: UKOIL another 500 pips upsideBRENT CRUDE OIL UKOIL Stuff and Nonsene Brent is expected to move up to 68.06-69.47 range over the coming couple of weeks where it becomes a sell again with stop above 70.00. Buy dips to the lower parallel if seen at any point during this rally, looking to sell again when the upper parallel meets price in the 68-69.47 range in a couple of weeks' time. WTI and Brent are set to surprise to the upside. Initial support now established at 61.00. Whilst above here Brent remains positive in medium term.
FX:UKOILLong
by sumastardon
BITCOIN: BTCUSD Short set-up hereBitcoin: BTCUSD For what it's worth right now, and looking at the bigger picture and pattern developing in first moment of calm since rising from bed, believe that Bitcoin is most likely to bottom at 5098 - a long way down from here - that view will only change if Bitcoin continues to hold up around current values and then turns up and breaks through parallel as described earlier...unless and until we see that Bitcoin is still very vulnerable - don't look to play this long unless 6515 is broken on upside - look for shirting opportunities and use stops to stay safe....can you see the stop? is it close by ? then trade for small loss if wrong.
BITSTAMP:BTCUSDShort
by sumastardon
3
S&P 500 Short set-up from hereS&P 500 Index SPX500 The last short got stopped out at even - right idea, wrong double top. Now it's fallen below the parallel that's been guiding this impulse wave since summer lows...it's trying to make a feeble counter-rally back to kiss the underside of the lower parallel before it falls away again to 2566-2564 range where it should make a rally attempt to form the right shoulder of a head and shoulders pattern now forming here. Sell from 2580 or as close to as possible with stop above 2583 for 3 point loss if wrong...once 2564 breaks after a first bounce from there of up to 11 points back to 2573-2577 range it should fall again at least back to 2564 and then when that fails to 2541. Two short trades here worth following
FX:SPX500Short
by sumastardon
Ethereum/Bitcoin: ETHBTC Stay away from this imploding dream Ethereum/Bitcoin ETHBTC Toxic Who is buying this? Why? It's still in a massive down-trend that shows no sign of waning soon. It's a short every time it touches the falling trend line from the high and will only ever become a buy if and when that downtrend is broken. As it stands now, it looks like it should fall further back to 0.0361 and then try to bounce (back to 0.0344) before coming off again. The 0.0344-0.0334 zone represents critical support for this dying dream. If it fails at any point Ethereum becomes an aggressive short back to 0.0232 to start with, then after a minor bounce, back to 0.0127. If short, good for you. Stay that way back to 0.0344 then close out again as above, ready to short aggressively again as 0.0334 is broken on downside for 0.0127 target. Ethereum will remain weak whilst trapped under the downtrend. Maybe one day itwill emerge the other side of the down-trend... But until it does this thing is still toxic
Short
by sumastardon
1
BITCOIN: BTCUSD Way more potential upside in storeBitcoin Update The Shape this is Throwing So far, the parabolic shape Bitcoin is making remains very encouraging for the future. If it can now hold up today between the old high area at 7450 and the new parallel , now at 7425 between now and Tokyo and China opening we could see some spectacular gains...it just has to hold up now... Stops for day-traders remain under the parallel by 20 points or so for now and under 7330 for longer term holders for now. The last massive surge from 6000 to 7350 came from the East. They like break-outs - if we hold up today as above Bitcoin could begin to fly higher, substantially higher. $15,000 looks like the next big number: 2, 3, 5, 7.5, 15 - let's see. But we still need to get through today: depends how involved you want to get from here...it's still in corrective mode just trading between the high and a recent low at 7474...but WOW the shape here, if the highs get taken out later on here and early in China. Suggest increasing holdings if and when (hopefully) the high is broken again aat 7577 - whether that happens soon or later. Use a stop under 7450 and it won't get hit. Good Hunting, once more, with way more potential upside once we see a break above the highs than yesterday. Be Lucky.
BITSTAMP:BTCUSDLong
by sumastardon
DXY: Get ready for a strong Dollar rally Tuesday from 94DXY: Looks like DXY should come back down to 94.28 at least and to 94 at most on Tuesday (well it could spike a few pips lower to test the lower parallel at lowest) before it and all Dollar pairs bottom out and start what should become a very powerful bounce...so get ready to start to building Dollar long positions across all Dollar pairs Tuesday as close to 94 on DXY as possible. Stops just below the lower parallel. Good trading
TVC:DXYLong
by sumastardon
UKOIL:Brent Crude Long set up from lower down at 51.09 if struckUKOIL Brent Spot: Like WTI it will hopefully get sold sold off on open in Far East about 10pm Eastern US time - if it does it should present a good buying opportunity at 51.09 for rally to 52.53, then 53.50 - worth setting a buy order up and seeing if it gets struck - and if it doesn't do the ideal and rallies from here and not lower down, it's still worth following on a move through 50.95 for rest of rally as above
FX:UKOILLong
by sumastardon