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Ichomoku

23% fib bounceI'm still very new to analysis and not yet actively trading. Just getting practice making calls to see if I'm right. Feedback welcome! I'd love to hear some tips and tricks from more seasoned traders and what you think of my analysis. Yesterday I talked about a falling wedge forming (see related ideas), which turned out to not be as strong as I thought and I ended up being pretty wrong. I'm realizing I may be too zoomed in when looking for trends. I've started looking at the 60 minute instead of the 30 minute today, and zooming out for several weeks when considering my patterns, even my small intra-daily patterns. Today, it looks like we're set to drop back down to the 23% fib around $12600 which I would say is a good entry point not just for a quick trade on the rebound, but possibly for a larger upward week-long swing, which I've stated before that I believe is coming off of this fib due to a strong support line shown back on the 30th & 31st, as well as the 22nd of December. Like I said yesterday, I wouldn't be surprised if this brings us back up to the high $16000s Things to note: Interesting but unrelated: The yellow box shows a "3 black crows" candle pattern which is confirmed by the big selloff candle right after. Take a look at that volume! I was just reading about this pattern and was happy to see such a clear example in the last 24 hours. This huge volume selloff was immediately trumped by an even larger volume buy-in. I think a lot of traders were thinking this was the new bottom, but I think we've got one more selloff to go before we get back up - the cloud is still bearish as ever. There are a variety of ways I could be wrong. We'll see. Let me know what you think!
COINBASE:BTCUSDLong
by Treefort
BTC Reversal With the anaemic volume leading to the open of CME futures, the charts looked read to roll over once trading started. Following the open of CME futures we saw BTC go through a period of correction (1 to 1.382 time frame). I think between the 1.382 and 1.618 we will be seeing a period of consolidation after a move upwards. The Tenkan and Kijun span shows a big disequilibrium, and is often a sign that a pullback is overdue. A flat Kijun acts as a strong price magnet, the RSI and MACD is also currently ranging in zones we have not seen it in since the fall from 8k to 5.5k. We have also seen strong rejection of the 38.2% price levels of this wave up (A: 8820. B:17171. C:12730). A cross of the MACD in this range, which once again, has happened in the 5.5k correction, brought us this massive rally nearly touching 20k. Once a cross occurs, it is highly likely that there will be enough momentum to bring us a TK cross, ideally above the cloud. Will be assessing the situation based on the timeframes indicated in the chart. Idea will be invalid with a convincing break under the cloud and rejection of 38.2% support. Should we see the bullish price action we desire, the fibonacci targets are shown. If you want to apply Ichimoku price theory, these are the levels to watch out for: NT 16640.0 (confirmation level) N 21081.0 V 21612.0 (high probability targets) E 25522.0 (low probability targets)
BITFINEX:BTCUSDLong
by ehzera
Look For Further Weakness In USDJPYUSDJPY broke below major support by closing under 118.40, a level that supported the uptrend on a closing basis for over a year. Not Including the late-August whipsaw low of 116.18, this creates a sequence of lower highs and lower lows. USDJPY’s multi-year uptrend is ending. The current trend is increasingly likely to bounce, and we recommend selling strength. We see major resistance at 121.80 USDJPY weekly chart shows a bearish cloud cross. It's showing signs of weakness as the ichimoku cloud just crossed and the cloud is officially in a bearish position. This happened with RSI breaking support and showing a bearish momentum. USDJPY may trade down to the 100wk moving average and the bottom of the rising cloud at about 114-115.50. Given the triangle top, a measured move suggests 112 is even a possibility. A rise to the 50wk average and top of the cloud at about 120.75 would be a great place to go short, in our view.
Short
by unique4x
GBPUSD Shorting OpportunityLower highs on the day chart note that the GBP is struggling to maintain footing. Further, the strong resistance from above by the Ichimoku cloud casts doubt on any bullish rallies. The RSI and MACD indicators suggest that this is an optimal time to enter a position. The Fibonacci retracement gives us some profit targets and stop losses, as well as a level at 1.5373 that could serve as a trigger to execute the short order. On the fundamentals side, the attached forecasts a rally in the dollar. This was confirmed at about 3 am this morning when the dollar rallied against all majors around 3 am.
Short
by quantguy
100 Pip PlaysThis thing has been on a descend for awhile now. I think we found a bottom for the daily range. *Not Weekly*. Past performance when checking out the 4hr chart shows a very similar setup. The area has been highlighted to make your life easier. Just scroll back. It has got a lot of steam on the 4hr - Daily range. All looks well but then again, this is the market. Trade with caution. *Note: Chikou Span is caught in price. This is not a breakout. Things could become very choppy.*
Long
by Frazier
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