Get started

IF

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
Bitcoin: BTCUSD Extra care at 6300 level over the next few hoursBitcoin: BTCUSD Update Quiet: No Buyers/No sellers, yet So we got the rally from 6300 - the 6312 level has been constantly mentioned recently as a minimum downside target. And it so happens that 6301 is 20% exactly from the high, a text-book retracement. So am thinking that we need to pay it a little more respect next time we visit it, when this little counter rally ends and try to lay out possible scenarios to watch out for that might tell us when the down-wave is finished: it's struggling to move above 6560 as this is written...so not much more upside now, limited at tops by the middle parallel - before it comes off again. Then comes the next big test for Bitcoin: 6300 must hold, creating a loss of downward momentum and a double bottom, with another pin bar on the 1 hour chart, ideally. And then start studding 6300 with pinbar bottoms over the next 3 or 4 hours if things stay pretty dead, like now. Then it needs to make an intermediate double bottom at 6300 in a fews hours' time, when it gets knocked back from the parallel on the first test, most likely. And then, the second, confirming signal will be issued when Bitcoin manages to break back above the upper parallel and to hold up there on the first retest. That would be the confirming sign that selling pressure is finally over - don't think it is but the chart decides this, not me, more's the pity. Long story short: 6300 deserves a little more respect than it's been given in last post. We look for signs of a potential loss of downward momentum there ... but it's still touch and go...the only other way out of this jam is for Bitcoin to hold up off the medium term dynamic on the next decline and start tracking sideways towards the parallel to its right (on chart)...it's possble - still think that any encounters with the centre parallel will be met with rejection - so swing traders are advised to stay short with stops above 6630 - and if we do see a low made at 6300 and then see the upper parallel broken to upside it's time to get long on next pullback towards the same parallel. Don't think this looks over yet, though - and won't unless we price action similar to that just described. Otherwise, stay short for test of the lower parallel once 6300 gives way.
BITSTAMP:BTCUSDShort
by sumastardon
1
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