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S&P BULLISH BIAS & CONTINUATIONThe TVC:SPX rose 3.2% last week finally closing above the last previous high at around 2940. This indicates to me that there are still a lot of buyers in the market, the likelihood is that price will continue to make gains in the following weeks. If there is a decline in price, a good buying area (depending on price action) to jump onto the trend will be around the 2800 region. My preference however is over the coming weeks too see if price is able to clear and retest the 3000 handle, if this becomes a reality this is where I will look to add some more positions.
TVC:SPXLong
by Too_Ray1
SPX: Bearish Butterfly Pattern Completing 3KDetails in chart. Huge FOMO rush to pile back in left a monster gap to fill 90 pips below. Another big gap at 2538.2 never filled. It will fill... Time cycles projected above, top-to-top time is ~ biweekly, 3-4 up days, 2-3 down days, 3-4 up days, ~ nine sessions. Trading >2SD above 20DMA, green line. This has been the magnet drawing price reversion to mean. Price will tag 20DMA! NB: 20DMA rests exactly at the gap from 2864...! Time cycle and price action suggests completion of the 'W' in Bearish Butterfly on or about 21 May, topping right at 3k. Rollover to a higher low IMO, target 2538 in early June. Time on target won't last long IMO, probably rest at higher low, double bottom for a few minutes and start another bullish move. Hope > Greed > Fear atm...! This is just an idea, not trading advice; trade at your own risk, GLTA!
TVC:SPXShort
by DaddySawbucks
26
Bitcoin bullish or Bearish?Hello, Ive been swing trading with high leverage as always and will post my trades below, but now is very important since we are coming up to a big move. Usually trading on the weekends trading volume is low and people take profit, yet we didn't see that and saw more push upwards pretty much creating a double top at 9014, yet whats next? Well going off what i see in the chart is weakness in the bulls not knowing if they should long atm as this morning we saw rise, yet with volume same as one hourly bull candle it took less to slam it down to the ground losing alot of last nights gains, yet still in profit. Right now if you going to go long you need wait to see a break of 8959 (around 9hrs or before), if it doesn't break that we break under the higher lows trend line as shown. It could have a retracement back to 8564 or even as low as 8196. Remeber with the halving the bottom has to double which the bottom is bewtween low 6k bear mim or in the 7k range. Right now price is well above bear mim for post halving. Watch for the pull backs and recommended to buy in the 7k range.
COINBASE:BTCUSDShort
by nathanielx9
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
Will the golden Fib Maintain support?The 2 main gaps below (8.5k and 7.7k) have now been filled and in doing so on the weekend, we've now created a rather large gap above current price action that will eventually be getting filled as well. The question is whether or not there will be any further downside before that. We can see we are still well under a very a very precarious head and shouylders pattern here but one good sign is the golden fib retracement level(aka the 61.80) is currently been holding support on the daily closes. This is one of Bitcoins absolute favorite fib levels to reverse trend at so it is definitely probably that we could bounce back up from here...if not and we also fail to maintain the 7777 horizontal as support the next likely support is the horizontal around 7428 or so...if we were to go down that far before reversing back upward we would start painting the 2nd shoulder of a very symmetrical textbook looking inverse head and shoulder pattern on the weekly chart that would have a breakout target of 14k. However, if we were to reverse the trend here at the golden fib and go up from here it would also still be a valid inverse head and shoulders the second shoulder just wouldn't be quite as symmetrical. Ultimately as long as we don't dip below 6.3k before finally seeing a trend reversal back upward we will secure our follow up daily higher low after having our first daily chart higher high in awhile which would still be a bullish sign and keep the macro price action in the bulls control. Even if we dipped all the way to our previous low we would still have a double bottom in play that would have the same breakout target as the inverse head and shoulders would...as long as we don't go below 6.3k the bulls still have control but I think we will either see the golden fib maintain support or the 7428 horizontal with the absolute worse case scenario being we dip back to 6.3 and bounce to validate a double bottom. As always this is not financial advice but I personally will be laddering in small buys each rung down, dollar cost averaging/ buying the dip.
BITSTAMP:BTCUSD
by DrDovetail
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
Bitcoin Needs More Shorts To Squeeze Please.#Bitcoin peaks at 10,400 before confirming a bearish outside candle formation. Is this the beginning of the next bear market? Maybe for 1 hour chart enthusiasts, but broader price structure CLEARLY hints toward further strength. In this video, I am sharing the ideas and elements that we evaluate in order to gain a sense of perspective that is RELATIVE to the intent of the market. This is part of the decision making process that governs the performance of our LONG only swing trade strategy. The text portion provides a summary of the key points of the video. 1. 9564 to 10,168 is a notable resistance zone where there is a greater probability of a bearish reversal (particularly above the 10,300 peak established in November). For our LONG only swing trade strategy, this provides an inflection point to reduce risk (partial profits) or exiting a trade completely. 3 out of 4 of our previous swing trades reached all 3 profit targets. We sent out an exit signal on our most recent alternate trade to lock in the profit which had not reached target 3 (we shared this idea at 9500). Why exit? The next relevant support is the 8900 area and there is no reason to let this profit erode any further at this point. 2. Just because there is a sell signal, does not mean we are bearish by any means. The broad reversal pattern (inverted head and shoulders) off of the 7275 support zone has established a bullish impulse structure (from 6400 area to 10,400). UNTIL this structure is compromised, we will be open to taking aggressive long signals while interpreting sell signals lightly. 8945 is the support that price needs to maintain in order to maintain bullish momentum. 3. We are waiting for the next higher low and price action reversal to go long. Those who short this are the ones who provide the buying pressure when they are margined out of their positions. This short covering effect is likely to lead price through the 10,400 high and into the next resistance zone in the mid 11Ks. Price action will need to establish a bullish reversal somewhere between the current price and 8900, otherwise we take no action. Can price retrace to the 7K area? Sure, but the probability is low until order flow can provide evidence that such selling pressure exists. Long term opinions mean very little when operating short term strategies. Order flow determines reality, read order flow, not opinions. Whenever a sell signal appears, the bears pile in, typically with unrealistic profit targets RELATIVE to their time frames and this environment. Difference in opinion is what makes a market because in order to win, someone has to lose. The mark of inexperience is focusing on being "right" in an environment that is highly random. You can be wrong and win, and you can be right and still lose. Sound familiar? Just look at all of the charts posted in the comment section, all trying to prove who's right. Long term performance is a product of two things: ADJUSTING to variable probabilities AND making more when you win, relative to when you lose. Our track records serve as realistic examples of a philosophy that is focused on risk management, not win rate.
BITSTAMP:BTCUSD
by MarcPMarkets
53
Oversold Bounce| .50 Fibonacci | Structural Support| Higher Low Hello Traders! Today’s chart update will be on XRPBTC, testing structural support with oversold conditions poising the probability of an oversold bounce. Points to consider, - Trend broke key resistance (S/R Flip) - .50 Fibonacci current support - Local resistance to break - RSI closing in on apex - Stochastics projected up - Volume decreasing XRP broke a key structural resistance that is now probable support; this will confirm the S/R flip which is a very key bullish indication. The .50 Fibonacci is in confluence with structural support, this level must hold true to confirm a higher low in the trend. Local resistance must break to continue the trend; this will allow XRP to attempt to take out current local highs. The RSI is interesting as it is closing in on its apex, a breakout is imminent and will dictate the next probable move in XRP, that being an oversold bounce but it must break its current resistance. The Stochastics on the other hand is currently projecting upwards momentum with no real signs of reversing. Volume is clearly declining which signals a move is imminent, especially when key technical levels come into confluence. Overall, in my opinion, XRP needs to maintain support above the .50 Fibonacci for a confirmed higher low. The RSI is clearly oversold, increasing the probability of an oversold bounce coming to fruition. What are your thoughts? Please leave a like and comment, And remember, “Fatigue and mental overload create a loss of concentration – The demands of watching the screen hour after hour make it difficult to be sharp, creating fatigue effects that are well-known to pilots, car drivers, and soldiers.” Brett Steenbarger
Long
by The_Alchemist_Trader_