IOTA IOTUSD No interest in buying this rally yetIOTA IOTUSD
Iota is testing important support at 3.229 with a low at 3.20.
this latter level must continue to hold (and will do so long as
Bitcoin holds up, which will not be for much longer now, it's
just completing its own counter-rally now). Any failure to hold
3.20 will force Iota lower still to 3.03 and then should this
level fail to 2.73 at least if not back to 2.47.
Even though it's on support and rallying now, have no interest
in buying here until Bitcoin makes a clear bottom. We can
pick it up cheaper still urther down the line.
IS
Litecoin: LTCUSD Update and stops for remaining longsLitecoin: LTC
Longs should have been out as the dynamic support failed at
around the 276 level - see how often there will then be a
challenge of the same support from the underside, which
works for an hour or so before it falls away...not always, but
maybe 50% of breaks are like this and the other half are
clean, hard and fast.
Last comment suggested looking to buy again at 245 with
stops below 238 - well it wasn't very helpful, with a spike low
at 235 so some will have been carried out with the rest of
them...if you set your stop under 234, well done. But LTC
must continue to hold up here at lowest - and that depends
on Bitcoin holding up too, which is unlikely looking at that
chart in isolation...so if still long here be careful. Any break
below 234 by more than 5 points is unlikely to be a fake-
out...it will then likely fall to 219-210 minimum and more
probably to 188-172 range where we can look to pick up some
more.
GE: An issue of Trust - is it safe yet?GE
Will 2018 be the year GE starts to get better? Who can say and
who can be believed anyway? The chart. It walks while CEO's talk.
GE has pretty much turned dead since the traumas of the Fall.
It's been moving in a very controilled trader-friendly way with
4 perfect hits on the 18.04 line and three on the 17.59 line
before it gave way, falling to new low at 17.36 but finding
buyers since and now trying to break above a fairly minor
trend line from the most recent peak at 17.52 now.
It's likely to get a few buy recommendations for potential
recovery from a few brokers in their New Year's tips sheets
but will need to find enough to push it back above 17.59 and
then hold above here on retests. That would be the first
bullish sign from GE for many a moon - and should be
encouragement enough for other buyers to join in and push
price back up to 18.04 - where it becomes ... a sell again
most likely. All this price action we see on the chart over a
two month period is the equivalent (or fractal) of two hours'
price action on Bitcoin.
WTI: USOIL Very Bullish - Buy dips up to 62WTI: USOIL See that Wave? Use it. It's free power.
The impulse wave on WTI is not quite so perfect as that on Brent (which is creating one of the most perfect trader-
friendly waves ever seen right now, check it out).
But the wave is beginning to take shape here nicely now too and looks full of intent and stored energy, ready to power it
higher over the next week or two ahead. As with the Brent impulse wave, use any further tests on the lower parallel as a
buying opportunity (with stops 30 pips below) and any test on the upper parallel as a near term selling opportunity with
stops 50 pips above if day trading this complex. The upper parallel here on WTI is sensational, really trustworthy, as good as
Brent's - and now the lower parallel is forming nicely too on WTI. We can use that for the next couple of weeks.
If WTI comes off from here and back to 55.00-54.60 it's a buy with stops 30 pips under the parallel. Although it's clear that
the entire area betwween 57.20 and those highs at 61.62 on left of chart is a real battleground, and that we are quite
likely to see a repeat of that whipsaw at the same levels and will need to take profits quickly (before someone else does
and price drops away again fast) ...but the trade has to be buying all dips as WTI grinds higher and higher , right up to
61.57 - 62.55 upside target - at which point, with bears squeezed tight, it will likely fall away again. (or if day trading
sell off the upper parallel and buy back from lower up to 62).
We are still long here on a long-pull swing trade from 43.74 and unlike the similar Brent trade this was never closed out
just before the last Opec non-event - this didn't look 'spent' but Brent did (so shorted it and left this long open, see older
comments if interested). It has a 61.47 limit order on it. One day...At any rate, last week's price action was super bullish
for WTI, turning old and powerful resistance at 55.06-54.60 into support and catching the market on the wrong foot by Friday.
This has more upside now. Use any weakness from here back towards the parallel as a gift of a buying opportunity until the
upside target is achieved, ideally as WTI hits the upper parallel at 62.40. Time, and trend-lines, as always, will tell.
So WTI is 'surprisingly' bullish. Solid bull move last week. This wave has more to run. It woukld have to close below 54.60 for
the bears to have even the remotest chance of getting a grip from here. Ain't gonna happen anytime soon. Last week told us that.
Source based analysis EJ H1requested by my fellow poster @f130nacci
price tells us order flow is immediately bullish, expectation remains NSH
Potential exhaustion zone completing overhead, according to price
From what price can tell us about source.
Look to join continuation short from zone overhead
Indicators will only ensure you are futher removed from price, and in turn from source. Get close to price, get closer to source.
EURCAD H4 Source based analysisrequested by my fellow poster @RonaldAviles
EC remains bearish in the short term, wait for price to tell us all it knows about source before presuming to know what order flow is working towards.
Price can tell us what is knows. Get close to price, get closer to source.
AUDUSD Source based analysis M15price tells us all it knows about source.
Look to short at completion of correction into continuation low
immediate expectation is new structure high however expectation has severely weakened. price has spoken.
watch how price approaches 8020 for signs of expectation failure, order flow will translate through price.
medium term expectation of a break of 7986 structure and down to retest of lows.
Price will tell us everything it can along every step of the way
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-Disclaimer , my first chart ,made from what I have learnt reading on tradingview.
But really , lets be honest.. Sell your house kids and car, buy Eth cause this is the future.
-If you have comments or constructive criticism please let me know.
Always interested in learning more.
-There is a few things in the world of currencies I am looking forward to.
Ethereum in the next two months is one of them.
Ethereum in the future, even more.
"This will be fun to look back on in the future!"
_____________________________
Ethereum News and upcoming events.
V-ENS launch
Ethereum Name Service offers a secure and decentralised way to address resources both on and off the blockchain using simple, human-readable names.
Live stats can be viewed here once it goes live.
V-EEA adds 86 new members
V-Huobi will list the CNY/ETH pair for trading
V-Huobi is one of China's top 3 crypto exchange.
V-OKcoin will list the CNY/ETH and USD/ETH pair for trading
V-Okcoin is one of China's top 3 crypto exchange.
V-BAT ICO.
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not confirmedRaiden
Lightning network on Ethereum .
Ca:23 june - Metropolis launch (---This gonna be big---)
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Proof of stake
PoS -1.66% is the replacement of PoW to verify transactions.
Stage 1 is 75% complete.
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Money will be spent on actually getting some chartingskills.
"Dont mind me, I`m not selling I´m just along for the ride"
DXY: Holding up so far and should rally one more timeDXY Dollar Index holding up so far but it still looks like a continuation pattern and that holds whilst unable to break above 97.75. But there's a little uptrend off the lows and it should work on this, the 4th strike, creating another little rally...still cannot do much other than play between the lines at moment, but next move is building, as per comment
NASDAQ Update: Not too bad so far: stops for shortsNasdaq 100: Has held up really well due to Dollar stabilising - please check DXY comments also as this is the lead indicator right now, if there is one. Need to manage these stops now as per comment and keep an eye on all shorts to see how they hold up...Still believe dollar has further to fall, despite this attempt to rally...but it could be enough to derail the Nasdaq short in meantime if not careful...do not want to see Nasdaq above 5610 if a bear, that's for sure.