BTC (Y19.P2.E19).If this is bottom, here are the requirementsThere is still a change but ever more less likely. Still one of many scenario's we can't just ignore.
Using the fractural of from late 2018 (3 to 4K) which started in November until March 2019 was the bottom range and one would expect some sort of resemblance for this to occur again.
So looking at the current scenario, there is still some change, with these requirements on the chart to fulfill this, hence why I'm keeping an eye on it.
My thoughts >
> The adam component was done nicely however the follow through cup\eve broke and a inverse pattern seems less likely with the current formation on the 4 HRLY. However things can change as I would imagine selling off is getting tired.
> If 6500 was the bottom-in and the low 7K were to be the bottom range, then one would look for lower highs or some inverse patterns of some sort (eg. Double \ tripple \ Cup formations).
> The RSI has confluence with the price chart to still support this case.
If the price ends up above the main resistance, I would expect many will jump in and create the next bull momentum.
Inverse
INVERSE HEAD AND SHOULDER (CONTINUATION)another case of an inverse head and shoulders price continuation, price to push back to 0.63493 to find support (AS PRICE DOES ALWAYS AND SHOULD) this is the anticipation. if reversal to happen at that point. T.P.1- 0.64399 safe place or set .P.A to watch if the Case is that price will continue upwards (and you have the patience to wait for T.P.2@- 0.65381 sweet place there......
P.As and P.Os should always be carefully considered and patience plays a big part in placing them and protecting that sweet and vulnerable account.
good trading and what not
Watch out for Ancient Mama BearHello Again fellow Traders!
Once again, it's time for some simple Analysis as there has been some recent Developments in the PA which might help Confirm Macro Bias
As you may or may not have seen from my Previously posted simple Analysis in which I go to show the breaking of the Macro Parabolic Advance followed by the Retest and the Failure it is now mirroring into lower Time frames as well and we are believe it or not now creating Inverted Parabolic support. As i'm still learning about how exactly Parabolic curves function in each and every Scenario I'm not able to clearly forecast the outcome of this
BUT
It is Clearly visible in this Exact chart that the Past PA which Painted this Type of I-Parabola Support Broke down once we reached the Top of the Curve.
This leads me to the suspicion to believe that the currently forming "ascending triangle" is not actually Bullish but much rather a Bulltrap. If I am correct, I expect the current Price to continue moving inside of the tightening range, then wick to the Top of the larger Curve on a Fakeout and get massively rejected breaking the smaller curve we currently hold as support.
I have taken Profit on my Last short & Entered a scalp long from the recent Drop @10175 XBTUSD
My TP is 10300 & SL 10169
Once we reach 10300 I will enter shorts once again with SL@ 10401 & TP@ 9880
Good Luck to you all :)
Still hoping we break Bullish deep Inside.
The inverse correlation GOLD vs OIL 08:10 05-Sep-19.LOG
The inverse correlation GOLD vs OIL 08:10 05-Sep-19
Gold can be used for speculation but is preferred as a safe haven. Crude,
on the other hand, can be used as a store of value but is preferred as a
speculative play.
This combination makes these two assets work great together as mutual hedges.
Gold helps offset the risk of higher uncertainty, while oil can take advantage of
market moves.
Broadly speaking, you could say that gold and petroleum are inversely correlated.
There are a couple of major caveats to add to that notion. The first is that more
nuance allows for more sophisticated trading. The second is that there is more to
oil prices than just the market.
born2invest.com
Understanding Intermarket Spreads: Platinum and Gold
www.cmegroup.com
Basics of Futures Spread Trading
March 5, 2011 by Craig Turner
www.danielstrading.com
The inverse correlation GOLD vs OIL 16:13 04-Sep-19.LOG
Gold can be used for speculation but is preferred as a safe haven. Crude,
on the other hand, can be used as a store of value but is preferred as a
speculative play.
This combination makes these two assets work great together as mutual hedges.
Gold helps offset the risk of higher uncertainty, while oil can take advantage of
market moves.
Broadly speaking, you could say that gold and petroleum are inversely correlated.
There are a couple of major caveats to add to that notion. The first is that more
nuance allows for more sophisticated trading. The second is that there is more to
oil prices than just the market.
born2invest.com
Understanding Intermarket Spreads: Platinum and Gold
www.cmegroup.com
Basics of Futures Spread Trading
March 5, 2011 by Craig Turner
www.danielstrading.com
The inverse correlation GOLD vs OIL 12:38 03-Sep-19.LOG
The inverse correlation GOLD vs OIL 12:38 03-Sep-19
Gold can be used for speculation but is preferred as a safe haven. Crude,
on the other hand, can be used as a store of value but is preferred as a
speculative play.
This combination makes these two assets work great together as mutual hedges.
Gold helps offset the risk of higher uncertainty, while oil can take advantage of
market moves.
Broadly speaking, you could say that gold and petroleum are inversely correlated.
There are a couple of major caveats to add to that notion. The first is that more
nuance allows for more sophisticated trading. The second is that there is more to
oil prices than just the market.
born2invest.com
Understanding Intermarket Spreads: Platinum and Gold
www.cmegroup.com
Basics of Futures Spread Trading
March 5, 2011 by Craig Turner
www.danielstrading.com
08:48 03-Sep-19
Beautiful Cardano (ADA) Chart Resistance and SupportAbsolute Beauty !!!
Look how Well FIB Retracement sits.
A long way to go for ADA to Break that ATH. So, lets take this step by step.
Currently, Ada is fighting with the neckline of the possible Inverse head and shoulder bottom.
IHS target is around 1900-1950 zone. Which also happens to be 0.5% retracement zone.
Shelley is Coming.
Update: Cardano Almost there (New Resistance & Support)We almost reached our IH&S Target of 1900 Sats Today.
Target was reached way earlier then i expected. Which means there is more room for growth before ADA summit on 17th-18th april.
If we Break 1900 sats in few days and close above it then we may go towards 2400.
If BTC helps Ada may also reach 3k Sats very soon.
Positive Signal: 50 EMA Crossing 200 EMA on daily chart.
Negative Signal: Weekly and daily RSI|STOCH RSI Overbought. (It may stay Overbought for long period especially when bulls are in Control.)
Retracement Level: Cardano have had very good last few weeks. It may retrace a bit which will be healthy correction. I am expecting a retrace towards 1700. If this level breaks, 1530 sats should hold.
If you were around in last ADA Bull Cycle then you may have noticed that ADA just pumps and stays there for few days and pumps again. Last Bull cycle was from 300 sats to 9k sats and all this happened within 40 days of time.
Good luck trading Ada.
ETH Decision time - Reverse crash cycle or continuation?Eth chart inverse has some similarities with the Peak of early 2018 and subsequent crash.
However as @kazonomics points out, looking the same is not enough: human emotions are what drives the charts.
Are ETH holders as salty now as they were euphoric in January 2017?
SPXU long trend for short term bounce play Here is a comparison chart of the S&P large cap inverse shares.
Looking very similar to Dow with even longer standing uptrend that is currently testing a bounce.
Check out RSI levels compared to last time at this level and what price action followed.
Again I will be hedging this short term *week or less while picking up shares in the index at a fair price.
Will update! thanks for the support greatly and good luck trading
30m Bars for up close action sirs and maams . best.
Here is the SDOW chart for reference >
Dow Bears 1D done hibernating?Here is a Daily for SDOW (inverse dow shares)
Basic chart with long term support and Trend based fib extension meeting on or near current price levels with falling sell volume.
I also see the Nasdaq being at or near a falling wedge pattern trend line.. will update.
Good luck and safe trading .
Possible Inverse Head and Shoulders?I've never traded Roku, but saw the chart earlier and noticed a possible inverse head and shoulders formation with resistance around the $44.50 mark psychological and depending on where you draw the lines. I'm going to be watching this one closely over the next few days for confirmation... as all you traders know none of this is financial advice.
Let me know what you think, this is my first post so as always trade with your own plan and use as many different indicators or data points as possible.
This is an extremely interesting week with earnings week coming up for most of the big name stocks, along with a possible double top forming if the market does keep with the bearish trend, so as always be on the look out, set your stops where you feel comfortable, protect your capital, and the charts are always helpful but we are trading probabilities and not certainties.