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GBPUSD two possible scenariosGBPUSD two possible scenarios on Daily: GBPUSD is currently trading around resistance so we will be looking for objective sell setups on lower timeframes. on H4: we have an ascending triangle forming and divergence on MACD, however, price is still overall bullish and we will be looking for an objective break below our lower blue trendline to sell. Unless price breaks above our upper blue trendline and resistance then we will be looking for objective buy setups on its retest.
by TheSignalyst
Bitcoin sitting above new supportNow I posted a massive move coming in the next 24hrs, did we hit it? Short answer I don't believe we seen the massive move in price, but we have seen something very bullish. At the time of wrting this bitcoin is trying to hold support above 7688 give or take. My support lines are not accurate, but they are close enough where the now the vpvr is showing as a major trading volume. I as you see I drew a pitchfork, just seeing if there is anything we can go off and well not much. We do see though when it passes or enters the blue area it is meet with rejection, yet at the same time according to this pitchfork we are creating higher highs and higher lows. The goal for today is to break out of this new support if it holds and start heading up to 8196, which would be the big move in price we are looking for. TA atm MACD is bearish, yet it is subject to change if we start pumping. Massive sale volume spikes, yet buyers are there to pick it up and hold the support that was resistance. RSI is heading to neutral and one can assume we are oversold. I'll remain bullish until we break the 50ema on the hourly which we tipped and is following the blue zone of "overbought." Breaking the 50ema would be bad, yet we markets open was meet with sale preasure that was bought up. Along with GBTC is up almost 2%, which puts BTC target pass 8196.
COINBASE:BTCUSDLong
by nathanielx9
2
Bitcoin: Let Your Winners Run.Weak markets do NOT linger around resistance areas, they sell off quickly. That is what I regularly remind our followers who are still long Bitcoin from 5750 and 7025. Is price in a vulnerable area? Sure, but until it produces a clear sell signal on the time frame relative to our LONG only swing trade strategy, there is nothing to do but let the winner run. In this video I further explain this rationale, and evaluate the reward/risk from current levels. NOW is NOT the time to be buying, but rather taking partial profits, and letting the market play out as it chooses. Even though there have been two continuation buy signals since the 7025 long idea, the probability of the location still favors a bearish reversal, BUT that does NOT guarantee that it will unfold that way. Higher lows often lead to higher highs and the recent price structure in this market is nothing but higher lows, and that cannot be overlooked in light of the conflicting location. So which carries more weight? I go with a higher lows, because like I mentioned before, weak markets do not linger around resistance levels. That is a sign of strength that many continue to ignore, and why I am anticipating a push into the low 8Ks rather than a bearish move at this point. The object here is to reduce RISK, while giving the market a chance to reach our second and third targets. Many do not realize, profits are out of our control and are more inline with being random, while risk is something we can fully control. That is why we place all of our profit targets at the time of the buy signal, and remove as much of our emotions from the process as possible. If Bitcoin turns bearish here, and it can come out of no where, we will NOT react. Our stop is in place, and it is up to the market to do the rest. One reason why many get caught in the noise is because they are mixing day trade expectations with larger magnitude levels and information. The nature of the time frame you trade MUST be accounted before BEFORE you enter the market, do not mix day trades with swing trades (topic of today's webinar).
BITSTAMP:BTCUSD
by MarcPMarkets
19
HL following a soon to be breakoutNow I'm still long in HL and bought shares at $2.99 as it creates higher lows and lower highs and I would like to Call as of now the move could have happen in 3 weeks if it doesn't break trend. Hl has been following Silver real close and Silver was breaking out, yet got slammed with Gold as the corona virus scared off the stock market with the Italy news. As of now I'm bullish due too the RSI crossover bullish, but neutral based on Corona News on next months price movement and will be watching what HL will do on Monday.
NYSE:HL
by nathanielx9
CGC Probable Higher Low| Structural Resistance to Break!Evening Traders, Today’s update will be on CGC, clear levels to watch to dictate the trend in coming weeks/months Points to consider, - Trend respecting .618 Fibonacci - Structural resistance to break - MA’s holding as support - RSI respecting support - Stochastics neutral - Volume below average CGC has respected its Fibonacci level, .618, signalling buy pressure coming in from structural resistance. A level yet to break will negate the bearish trend in CGC if a break and close above structural resistance comes to fruition. The Moving Averages is holding true as support, must remain when structural resistance is broken. The RSI is respecting its support signalling that the relative strength at current time is neutral; this is same with the stochastics. Volume is clearly below average, must increase if market structure is to be negated Overall, in my opinion, CGC has a clear resistance to break which will negate the bearish trend by putting in a higher high. Till then the macro bear trend is still intact What are your thoughts? Please leave a like and comment, And remember, “When you learn to let go of the need to be right, being wrong gradually lose its power to disturb you.” ― Yvan Byeajee
C
by AzizKhanZamani
7
BTCUSD 1D MACD CROSSOVER SHORT TRADE1 - Wait for the MACD lines to develop a higher high followed by a higher high swing point. 2 - Connect the MACD line swing points that you have identified in Step #1 with a trendline. 3 - Wait for the MACD line to break below the trendline. (Enter at the Market Price as soon as the MACD line breaks below). 4 - Use Protective Stop Loss Order. (Place the SL above the most recent seing high). 5 - Take Profit when the MACD crossover happens in the opposite direction of our entry.
COINBASE:BTCUSDShort
by Tradingstrategyguides
BTCUSD High Time Frame Breakout Imminent - IMPORTANT UPDATE Hello My Followers! Today’s update will focus on BTC’s higher timeframe, trading very close to its apex where key levels diverge - a trade opportunity is coming to fruition! Points to consider, - Strong bull trend on weekly - Key support/ Resistance converging - 21 week MA as key support - Volume currently below average - RSI broke key resistance - Stochastics in upper region Bitcoins weekly projection looks very bullish with another potential higher low established as price travels towards the down sloping resistance. Key support and resistance levels are converging, signalling a true apex in the chart leading to an imminent break. The 21 weekly moving average as of historic significance is very valid in determining whether we are in bull or bear market, right now is supporting price. The RSI has broken key resistance, a retest for confirmation is likely, and this is the first time since April that the RSI has breached it. The stochastics is trading in the upper regions, can stay trading here for an extended period of time, however lots of stored momentum to the downside. Volume is currently below average, an increase will confirm a true breakout from BTC’s apex, this will overall confirm the trend of BTC. What are your thoughts? Please leave a like and comment, And remember, “Those traders who have confidence in their own trades, who trust themselves to do what needs to be done without hesitation, are the ones who become successful. They no longer fear the erratic behavior of the market. They learn to focus on the information that helps them spot opportunities to make a profit, rather than focusing on the information that reinforces their fears.” Mark Douglas
BITFINEX:BTCUSD
by AzizKhanZamani
21