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GBPAUD WEDGE FORMATION AND BREAK BELOW. Seen from the weekly TF, this pair has been an a very long-term downtrend! I am talking about years of overall decrease in the peaks of price. We see a formed wedge from rising lows and falling highs. Depending on the condition of the market and direction of the break, this can be a reversal or continuation pattern. Drawing reason from the direction of the break, this wedge pattern and break situation suggests a continuation of downtrend. After break below of wedge support, Price went back for a retest and has met a confluence of key horizontal resistance, 200MA and support now turned resistance area of wedge. This multiple confluence suggests a strong area for sellers to step in and push price lower. In my next post, I will scale in so we can follow what is happening in the here and now. Cheers!
Short
by Chinedumnweke
BTC Down to $5900 , Weekly BearishLooking at a long term chart I see that we have support down at $5900- 6000, as pointed out by CryptoCheck, aka Marty Boots. Thus, from his chart I looked at a longer time frame and saw the same within my chart. I have added my recent and speculative channel. Of course a break to the upside would invalidate this. Also, as pointed out by CryptocCheck and many others, we have CME Gaps to the downside. Linked is the chart that inspired this one. This is not trading advice.
BITSTAMP:BTCUSDShort
by ChartProphet
6
PLTR BOTTOM OUT? Buy & Hold LONGPalantir Stock Looks Attractive At $9, But There Are Two Key Concerns Palantir’s Increasing Exposure To Government While Palantir’s Revenues expanded by about 24% in 2019, growth is likely to pick-up to levels of over 40% in 2020 as Covid-19 related disruptions increased demand for the company’s services. Much of this growth will likely come from the Government space. Over H1 2020, Government Revenue expanded about 76% year-over-year, while its Commercial Revenue grew by just 26%. The higher government exposure – particularly in areas related to surveillance and national security – comes with transparency and perception issues – which could put off software investors. That said, Palantir still has a lot of scope to grow in the Commercial space, with its total addressable market standing at about $56 billion. Investors could re-think Palantir’s valuation if they see more proof points indicating progress in the commercial sector, via high profile deals or stronger Revenue growth. Palantir Can’t Scale As Seamlessly As SaaS Stocks Investors aren’t treating Palantir like a Software as a Service (SaaS) stock. SaaS companies incur upfront costs to develop and maintain their products, but they can scale-up seamlessly to a large number of users and have low customer acquisition costs. Palantir’s software, on the other hand, requires a lot of customization by Palantir engineers to adapt to the unique needs of customers. Its user base is also concentrated (125 users as of 2019, with 20 of them accounting for two-thirds of Revenue). This adds significantly to the company’s costs. For instance, Sales and Marketing Expenses stood at 61% of total Revenue in 2019, with General & Administrative costs standing at over 43% of Revenue. This significantly impacts the company’s bottom line, with Net Margins standing at -78% in 2019. In comparison, Datadog, a SaaS player that provides solutions to monitor cloud applications, had Net Margins of -5% during its most recent fiscal year. However, with Revenues likely to pick up this year, Palantir’s Net Margins should also rise. Over H1 2020, Net Margins stood at -34%. (this info was outsourced) DotcomJack | Going Long On PLTR
NYSE:PLTRLong
by DotcomJack
2
How to Identify Ethereum’s TrendEthereum is the second-most capitalized coin in the crypto market, and it is prevalent among traders. One of the most frequently asked questions is, “how do I know when it is trading up?” Let’s review! Ethereum Fundamentals The Ethereum platform is used by developers to build different kinds of decentralized applications, including new digital assets, uncensored web apps, decentralized autonomous organizations, decentralized finance, etc. Ethereum also serves as the platform for more than 260,000 different cryptocurrencies, including 47 of the top 100 cryptocurrencies by market capitalization. Identifying the Trend Identifying an asset's trend is often overlooked by novice traders who attempt to make as much profit as possible by scalping on the 5-minute chart. However, the trend is an essential component of trading. Moving Averages on the 1-day chart usually do an excellent job of identifying the trend. In the chart above, we have used the crossover of the 10 Exponential Moving Average (EMA) and the 50 EMA. When the fast 10 EMA crosses above the 50 EMA, a buy signal is given, and when it crosses below it, a sell signal is given. This strategy is far from perfect, as we can see by the two fake signals in the chart above. However, the other three signals identified a rise in ETH by 183%, 87%, and 165%. You don't need to trade on these signals; however, you can use them to gauge in which direction the market is heading. You can then set up your strategy to trade according to the underlying trend. Looking Ahead: Currently, the strategy has indicated a sell signal, which means that Ethereum may enter a bearish market. It is possible that this signal is fake and that the price will recover shortly. However, you can also take advantage of this by preparing to take long positions with your strategy on the Ethereum leveraged short-tokens such as BTCDOWN or ETHBEAR.
Editors' picks
Long
by cryptohopper
10
VOC -long term breakoutOne to put on a watchlist for now is Vocus as it appears to be breaking out of a massive wedge pattern, for me there are two important levels to watch to confirm the strength and validity of a new potential long term trend - the 3.80 level, a breakout and retest of this level would be a long entry for me, taking half profit at 4.90 and let the rest run. If you want to be extra safe/certain it would be ideal to wait for a breakout and retest of 4.90 as this would be a crucial breakout area. Just my opinion
VLong
by Ravi2409
TATA MOTORS IS INSIDE THE GOLDEN ZONEHi Traders, This stock has broken the weekly trendline. The price is now trading inside the golden zone. There can be a retracement back to the weekly trendline. We can safely trade this retracement only if price forms a reversal chart pattern at this golden zone. If the price close above 172.70 can change the outlook of this counter to bullish. Because there is possibility that price can move in range within the goldenzone and 172.70 or the weekly trendline. For queries feel free to comment and like. Happy Trading.....
NSE:TATAMOTORS
by Hari_krishnan_S_Kumar
LTCUSD just broke out if its long term downtrendLTCUSD Just broke out of its long term downtrend on the weekly TF, great long term long opportunity IMO. We’ve broken and retested previous resistance Massive bullish volume HH & HL’s And with BTC and ETH pushing up to all time highs, LTC is sure to follow. Multiple take profit levels from a potential 53% to 500% if we get back to where we were in 2018! I’m now looking for a pullback to hopefully around $51 to get my entry but my do staggered entries between $51-$56 and will hold this until at least the first target of $79 for a potential 30% minimum gain.
BINANCE:LTCUSDLong
by TradeTravelChill
BTC/USD The Forgotten Triangular Pattern I am sure everyone knows BTC is about to make a huge move. From May till June even on the current moment BTC/USD is moving very slow and getting less and less volatile. BTC halving is already over is and is going to moon right? 24k here we come!! Here is a warning!! BTC is still within a strong triangle pattern, and still, in a strong downward pattern market, you can see in the chart I made the triangle pattern started to form at the end of 2017 and yet to be broken. I ain't optimistic about BTC/USD could break the triangle in short-team (now and in the near months). Zoom in and looking at the 1D Chart: BTC has attempted to break 10k area and hasn't succeeded yet, the 10k area remains as the strong resistance before BTC Moon. And I am really pessimistic about BTC's ability to break it now. Here my reason; From the RSI the bear in on a steady pace controlling the market, as the RSI keeps on decreasing the bear get stronger, which only makes BTC weaker to break the 10k resistance. Also, capital seems to get out from BTC, less $$$ in more $$$ out, in other word market are not interested in buying BTC anymore, and selling it. Just take a look at the BTC Dominance Chart. Hence I suggest keeping an eye out for the Altcoins market, Altcoins season seems to be nearing, and start to build short setup for BTC. The last question from me, Are we now on a consolidation phase for an upward trend or we had reached the exhaustion point of the upward trend? Share your answer with me on the comment section below, and like the post for more upcoming analysis for BTC or Altcoins.
COINBASE:BTCUSDShort
by RX_Wolf
2