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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
Litecoin: LTCUSD Use a stop here to protect longsLitecoin. LTCUSD Bitcoin's failure has washed over into all the Alts but Litecoin has not suffered as badly as others, so far...if that's to remain the case then support at 245 must continue to hold here during the course of today (stops for longs need to be only 3 points or so under here) for any failure to hold will tip Litecoin into the hands of the bears who will force price back to 208 at least, if not back to 173 before releasing their hold. Use a stop (in head) here or an alert. Better safe than sorry
BITSTAMP:LTCUSD
by sumastardon
4
BTGUSD More tradeable downside hereBTGUSD Still running within the same sets of rising parallels, BTG took 10 days to more than double from its lows. A laggard. It's still unwinding, making a similar continuation pattern to the one that has just preceeded it...it may try to rally one more time to 348/9 but once 321 gives way it should fall to 299-289 range, worth shorting. Whilst trapped within the falling parallels from the highs BTG will remain in a weak technical position. To turn back to bullish from here BTG will have to break above 352 and hold (not spike higher and fall away) only then will it look safe to follow for move up to 391. But the chart is saying more downside is likely first.
BShort
by sumastardon
Bitcoin BTCUSD Watch out for potential Head and Shoulders hereBitcoin BTCUSD Update If you got long again at the ridiculous hour of 11.30 pm est you're hard working and deserve your 400 points reward. Weirdly the crypto chat room was quite quiet with a guy from London waiting for the BCH burst to top out so he could bail out and fade the consolidation. London's finally catching on. 2018 will be so fascinating and fast moving. It's good for competition, good for spreads and good for us therefore, in time. Now, finally people are taking BTC very seriously. So many Bitcoin jobs to be created now. How long for though? No one can answer that one for us but if anyone will know in advance it will be GS. And the chart. Until that day comes we ride this like nothing has ever been ridden before...in the entire history of speculation. Ever. We are alive for it. Wow Right now Bitcoin is trying to track huigher but is, weirdly, being contrained on the upside by an old parallel from way back in the mists of time (hell, it's 14 days old - that's 2 years in FB time!) - and yet it's clearly back in play once more, stopping the rallies. Another nice day in prospect for day traders but not much for others right now. It's trying to hold a newly forming little parallel off yesterday's lows and needs to keep holding up there or we have a danger of a head and shoulders forming here off the top, with a neckline at 15809 and a minimum downside target at 14210 if it gets broken. Time will tell but right now this is not a very strong pattern, except for day traders. Unless you look to short if head and shoulders gets completed later on, as above.
BITSTAMP:BTCUSD
by sumastardon
2
IOTA: IOTUSD Downtrend BrokenIOTA IOTUSD The rally yesterday fizzled out from the upper parallel of a newly forming continuation pattern. Using a trailing stop under the day's little dynamic that had underpinned the rally from inception at least meant escaping the worst of the ensuing decline by triggering an exit at around 4500 but it was a poor call nonetheless. If you reversed short on the break below 4361 there is at least a 180 or so point profit still to be had, but so far it has not reached the expected downside target. It's trying to flip back up here but is still being held back by the upper parallel that controls the wave. Still vulnerable whilst unable to break and hold above this parallel. Suggest using a sliding stop above this parallel for shorts. If broken to upside look to close down and reverse for small 100 or so profit -
BITFINEX:IOTUSD
by sumastardon
2
IOTA: IOTUSD Continue to Use Dynamic Stops hereIOTA Update Dynamic Stops Another rally attempt cut in the bud. We went long here on break above 3311. Because we're using dynamic stops under the little trend line that supported the rally we exited the long at 3720 for a 12% win on a bad day again. Once again the majority of the gain was trapped in and left you free to buy again at the original price, bang on 33117 again...lucky, perfect you. Now sling a support line under this run and use it as a dynamic stop for this new long. Now you're cooking.
BITFINEX:IOTUSDLong
by sumastardon
2
IOTA: IOTUSD Trying to base here - buy points todayIOTA IOTUSD Update Trying to base here - Buy points Within minutes of publication the little dynamic support line that had held upyesterday's rally was broken, flipping IOTA from positive back to negative on a dime. Stops for longs were running up under the parallel as price moved north. Well it was good whilst it lasted but once that little dynamic was lost we can see the damage done. That stop was at around 4598 when the parallel was finally lost, so by using this method of exit on longs the vast majority of the rally was locked in and no real damage has been done. We live to fight again from lower levels now... Iota is now trying to base out at 3037 by look of chart but is likely to have a problem at the tangled mass of resistance just above here, where fixed and dynamics meet...no way do we get long again here until that has been beaten through...it has to get back above the upper parallel, now around 3400 and survive any retst of that parallel from above once broken to trigger next long from here. Maybe we will get a better entry long from lower down still...need to watch this and look for potential double bottom/loss of downside momentum at 3037 for fist clue we have a low forming now...if it fails here we stand back looking to see if 2.865 offers support - if not it means 2.172 is the next level to look for a buying opprtunity. So we are left with 4 potential entry points here: at 3400 ish on a break of the upper parallel with stops kept under the parallel by 50 points or more. Or at a potential yet-to-be-decided double bottom at 3037 And should this fail to hold from 2.865 or at lowest from 2.172 if we see it. That's a little complicated but covers the levels. The easiest will be the break above the upper parallel. It should attract quite a lot of buyers as well as shorts closing down/buying back too. watch it and follow when the signal is given on the chart. Use stops though. Yesterday should have taught you that by now. Lesson learned.
BITFINEX:IOTUSD
by sumastardon
7
BTGUSD Back in Buy zone - so long as Bitcoin holds at 11200BTGUSD Back in buy zone at 306-300 Longs should have closed out at the 320 target and now BTG is back in the buy zone at 306-300 range -it can potentially spike down to the lower parallel at worst before the rally resumes. Look to accumulate on weakness with stops placed below the parallel or can try at 306 with very tight stop at 303 for small loss if wrong from here - or place orders in market at 300 down to 294 range and they might get struck. All stops must be either very close if going long here (it's speccy with 3 downside and 14 upside to 320/upper parallel spike at highest) or under the parallel if going fishing at lower prices. So long as Bitcoin holds up at 11200 BTG should be fine too. Close both if this level is broken, though.
BLong
by sumastardon
Brent Crude Oil: UKOIL Brent is back in the Buy Zone HereBrent Crude Oil UKOIL Back in the Buy zone Well the stop on the short from 63.77 never got hit and Brent duly came off back to the first target at 63.10 for a small 65 pip win - but should have held it longer as it then went on to test the lower parallel of the flag, bang on 62.17 support at the same point in time, and has since rallied much more strongly than anticipated last week, taking Brent right back up to the old highs at 64.25 before falling away again. (My bad here for getting way too involved with Alt/USD's last week and ignoring this complex in the resulting maelstrom) Anyway, Brent looks OK...Look to buy around current values down to 63.00 with stops at 62.88 for small loss if wrong from here. First upside target is the highs at 64.25-64.61 range - (can close out here if you want) but be ready to get long again on a move above 64.65 for next stage of rally up to the upper big parallel - close out here if struck and look to short with stops 30 pips above the parallel on first touch.
FX:UKOILLong
by sumastardon
DXY Dollar Index Trying to Base hereDXY Dollar Index Update Near Term Neutral but Dollar Trying to Base DXY did come off from where it was meant to last week but has put up more than just a fight so far in the 92.74-92.50 range. The fight back was to be expected, but it's doing better than envisaged so far here - and these conclicting signals urge caution now ...no interest in getting involved in a battle of whipsaw here but will look to back the winner again here when one emerges...DXY has gapped up today, double bottomed and left a pin bar lying around in the space between the two blue lines of fixed support shown on chart...bullish signals. But it's still trapped within the parallels which are trying to force price lower. Something has to give here soon. ...A break above the upper parallel would be the next bullish signal from DXY - look to get long DXY on the next retest of the parallel from above, once broken to upside, and get long USDEUR and short Gold on this development too. On downside DXY has to stay under the upper parallel for the bears to keep control from here - then they have to force DXY down to fill the gap today at 92.89 and then push it below 92.55 again for DXY to turn negative again from here. As it stands the bears are beginning to lose this battle, not enough fire-power to force DXY lower from here by the look of the chart. Early hours of this battle, still, but increasingly the bulls are beginning to wrest back control here. Confimation will come when the upper parallel is broken and survives the next retest. At that point we look to short gold (if signals there are not already given) and get long USDEUR.
TVC:DXY
by sumastardon
ETHUSD Beware if still long hereETHUSD ETH is breaking down and extremely vulnerable whilst below the resistance line falling from the highs. It's a sell off that line, with stops above it. It looks like this will fall away in stages, with each fixed line of support offering a chance for day traders to close shorts and then sell again as it rises to test the line above it. There are some nice, big very profitable ranges opening up below now. It will try to put up a fight around 378, and has already spiked to just above the line today ...but it's quite likely to fail is what the chart is sadly saying. If you are long here for some reason, please sell. You'll be able to buy his way cheaper soon. That outlook only changes once the dynamic from the high is beaten on the upside from here. Only then will this flip from negative to positive 2 hours ago: ETH is in a mess. Sell any longs picked up for small profit/break even - can short it too if day trading. We can get this cheaper later on. This could be a very good opportunity coming up to get long at really good prices over the next 24-48 hours. Be flat or short of all baby Alts for now. This is a good opportunity coming up...powder dry, or short for now
BITTREX:ETHUSDShort
by sumastardon
Litecoin:LTCUSD Be careful if still long now:correction not overLITECOIN: LTCUSD Negative now due to Bicoin weakness Things have taken a turn back into into negative territory for Bitcoin and Litecoin has suffered as a result. What was fine yesterday is now very vulnerable because of Bitcoin. Bitcoin itself is very negative and should fall another 1000 points from here. But it's making a feeble counter rally right now and Litecoin is moving on Bitcoin's back. Be very careful now if long here. It's broken the medium term support - now acting as resistance, a very negative sign and is likely to come off again soon now. Under the line it's facing real bear terrritory and will likely be forced back down to 50 once 75 gives way. Time to be flat right now or short with a stop above 81 for small loss if wrong in near term
BITSTAMP:LTCUSDShort
by sumastardon
1
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
WTI: USOIL Very Bullish - Buy dips up to 62WTI: USOIL See that Wave? Use it. It's free power. The impulse wave on WTI is not quite so perfect as that on Brent (which is creating one of the most perfect trader- friendly waves ever seen right now, check it out). But the wave is beginning to take shape here nicely now too and looks full of intent and stored energy, ready to power it higher over the next week or two ahead. As with the Brent impulse wave, use any further tests on the lower parallel as a buying opportunity (with stops 30 pips below) and any test on the upper parallel as a near term selling opportunity with stops 50 pips above if day trading this complex. The upper parallel here on WTI is sensational, really trustworthy, as good as Brent's - and now the lower parallel is forming nicely too on WTI. We can use that for the next couple of weeks. If WTI comes off from here and back to 55.00-54.60 it's a buy with stops 30 pips under the parallel. Although it's clear that the entire area betwween 57.20 and those highs at 61.62 on left of chart is a real battleground, and that we are quite likely to see a repeat of that whipsaw at the same levels and will need to take profits quickly (before someone else does and price drops away again fast) ...but the trade has to be buying all dips as WTI grinds higher and higher , right up to 61.57 - 62.55 upside target - at which point, with bears squeezed tight, it will likely fall away again. (or if day trading sell off the upper parallel and buy back from lower up to 62). We are still long here on a long-pull swing trade from 43.74 and unlike the similar Brent trade this was never closed out just before the last Opec non-event - this didn't look 'spent' but Brent did (so shorted it and left this long open, see older comments if interested). It has a 61.47 limit order on it. One day...At any rate, last week's price action was super bullish for WTI, turning old and powerful resistance at 55.06-54.60 into support and catching the market on the wrong foot by Friday. This has more upside now. Use any weakness from here back towards the parallel as a gift of a buying opportunity until the upside target is achieved, ideally as WTI hits the upper parallel at 62.40. Time, and trend-lines, as always, will tell. So WTI is 'surprisingly' bullish. Solid bull move last week. This wave has more to run. It woukld have to close below 54.60 for the bears to have even the remotest chance of getting a grip from here. Ain't gonna happen anytime soon. Last week told us that.
TVC:USOILLong
by sumastardon
Bitcoin: BTCUSD Update/Key LevelsBitcoin Update Key Levels from Here Stopped out of longs at 7700. Bought aagain at 7680 with 50 point stop early in London. Lucky you if still in bed! We should be long again from 7570 now as per last comment, and stops can placed under low today (7530) by 30 points, so 7500. And for day-traders and those wishing to run tighter stops, 7717 is still the line in the sand, the freeezer lid. Whilst 7717 holds up all is good for Bitcoin bulls. So stops can be placed just under here, at 7700 - because if it should fail it's likely to retest 7530, bounce and then move sideways for a while. And, just in case, it's worth noting that 7530 is last gasp support now for the bull case, so it that has to hold up at lowest on any retests from here - but that can't happen whilst 7717 holds. That's Good. The freezer lid. There are 2 changes to the chart for the first time in 2 weeeks since the previous high, so the support line that was at 7570 has been lowered by 40 points or so and the lower large parallel (and therefore the upper ones too) has been adjusted too. The parallel is still not as perfect as it should be but refuse to try to force some pareidolic fit, so it just can't be completely trusted - but it's the best clue we have that the force of this upwave is still good. It's interesting that the 8000 level has been struck - that was Goldman's predicted next high - hats off to Jafari there - day traders will likely llok to book profits here once more bagging a quick 400 points from 7570 entry. So we should get some sideways movement... but whilst 7717 holds this can start to be viewed as a long term hold.
BITSTAMP:BTCUSDLong
by sumastardon