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Lowerhighs

BCHUSD Perspective And Levels: Weakness Ahead. No Supports.BCHUSD Update: Lower highs and lower lows signal further weakness. This market has no bullish structure in place at the moment and no support levels to speak of. In a situation like this I would look at purely psychological levels like 250 or 200 for any potential signs of reversal. I have not been reading up on the forums about what is going on fundamentally with BCH (the result of the hardfork), but the price action is clear: participants are getting out. At the moment it has no correlation to the price structure and stability of the original BTC market which is holding it's levels. On it's first day of trading, price action was chaotic with a 300+ point range. It initially found some support at 300, but it has been compromised and will now serve as an additional resistance to watch for. As far as resistances go this market has put in two levels worth noting. 428 which is the .382 of the bear swing and the 530 to 600 resistance zone (related to .618 of bear swing). In order for this market to prove that consistent buying is present, 428 must be taken out. Otherwise, according to price structure, the bears are in control. There is also a minor resistance at the 330 level which can be used as an early buy signal for at least a broader retrace back up toward the 430 area. If this level is compromised, it would signal that some strength may be returning and it would be wise to look for a subsequent higher low. DO NOT BOTTOM FISH. Many less experienced traders are going to see this weakness as an opportunity to buy into the "next bitcoin" really cheap. The problem is at the moment, it is poised to become cheaper. If anything, wait for a solid reversal structure, preferably on a larger time frame like 4 hour before buying this (if you are one of those long term investors). No reversal structure for me means lower prices are ahead. Remember, you don't have to buy the bottom to be profitable, you need to recognize low risk, high probability setups and they will appear just like they do in every market. Can BCH go to 0? If it is fundamentally flawed and no one adopts it, sure it can. All of these markets can. That's why it is better to be patient and wait for the proper reversal signs, which means you won't get the BEST price, but you dramatically increase your chance of getting in when conditions favor your outcome. In summary, BCH is clearly weak and is showing no signs of reversing up at the moment. There are no structural supports or reversal patterns. If you are looking to invest, it would be safer in my opinion to wait for the market to stabilize. A break of 428 will signal that strength is returning, and that scenario would prompt me to look for the subsequent retrace off of that up leg as a buying opportunity. So we have some waiting to do. Let's see what happens. Comments and questions welcome.
BShort
by MarcPMarkets
15
NZDUSD Short TradeThere is a lot going on in this chart that lead me to reason that the price is going to move down. We will start off by saying the 4h chart had been bearish for a little while before making a double top on July 11th. We then see the price make a lower low followed by a lower high. We can also see RSI divergence here and back at the double top. We can also note that a small head and shoulders pattern was made at the 2nd RSI Divergence, which was my confirmation to get into a short position. My stop loss is set 10 pips above the double top, and my take profit is set back at the lower low
Short
by tsendtrades
1
USDCAD ANALYSIS WEEK OF JULY 17, 2016Weekly chart is indicating a nice uptrend. There is no clear indication that trend has switched over to bears. That being the case lets look at the daily chart. This week has given us a clear indication of an upward trend continuation. Lower highs were beautifully created on the daily timeframe. Let us go deeper. Looking a the 4H chart we can see a bullish engulfing bar signaling the bulls are in control. If you wish to get into this trade a good entry would be between 1.29000 - 1.29500 area. Reasonable TP area would be around 1.31000 but if you wish to take it up a notch 1.32500 would be a nice area as well. Happy trading everyone!
Long
by Jnwsk
NZDUSD ANALYSIS WEEK OF JULY 17, 2016Looking on the Weekly chart price broke through the weekly resistance trend line. The week closed off with bears showing their mighty force. There are lower highs being made on the weekly so it is still on an uptrend but the last bear candle indicates it is in dire need to create another lower high. So lets see how we can use a double edge sword here. Looking at the daily it made a nice double top. There is a nice trend line resistance. That seems like a wonderful area to go long. Lets go a little bit deeper. On the 4H chart there is a potential Head and Shoulders forming. A good area to possibly short this would be 0.72000. Full confirmation would be break of the H&S neck which in turn will move price down to the 0.69000 area which can be the new weekly lower high created for its continuation trend up.
Short
by Jnwsk
1
EURUSD Analysis Week of July 17, 2016 On the weekly timeframe we see a nice range. Resistance at 1.14500 very nicely. The last candle finished with a wick down signaling strength in bears. Then looking at the daily chart you see nice LH and LL on a downtrend for more confirmation. Then looking at the 4H chart lets see where we should look to enter on this trend 1.11000 seems like a reasonable retracement area to look for shorts. Trading safe the TP area should be around 1.08500. Happy trading everyone!
Short
by Jnwsk
2
Price Action shows Bearish signs on NZDUSD!After a powerful bullish trend the FX:NZDUSD shows a nice indecision candle on top of a resistance area. From the price action point of view this usually means that the bullish power might be transitioning to the bearish side. What do i do? I executed a pending order below the low of the indecision candle to go short. As always i keep my Risk/Reward a 1:2 minimum. Trading Details: Time Frame: 6hr Entry: Below the low of the indecision candle Stop loss: A few pips above the high of the Indecision Candle Risk/Reward: 1:2 Account Risk: 2%
Short
by daldertg
[AUDUSD] PIN BAR CANDLESTICK + AREA OF RESISTANCEFX:AUDUSD In this trade we can see a nice preceding bullish trend heading towards an area of resistance, next we see a nice pin bar candlestick which tells us that the bullish power might be transitioning to the bears. Confirmation is needed for me, so i executed a breakout entry below the low of the pin bar candlestick or also called Indecision Candle. Trading Details: Time Frame: 12hr Entry: Below the low of the indecision candle (Pin Bar) Stop loss: A few pips above the high of the Indecision Candle Risk/Reward: 2:1 Account Risk: 2%
Short
by daldertg
S&P 500 Top and Short TargetSo we see a longer trend of lower lows, and lower highs on most major indices worldwide, and this is clearly also starting to catch up with USA too. The latest bull move is looking extended and we are seeing signs of exhaustion and a rather messy-looking head and shoulders top is emerging. The key feature here is we have a rising support, the neckline, that gives us an opportunity to short and manage our risk in the trade. I don't expect this to be a simply break, the right shoulder may drag on, there may be fake breaks of the neckline, but ultimately if you smooth out the noise with a longer timeframe, and ideally wait for the neckline to act as resistance, you should have the opportunity for a great entry for a trade that can net you at least 40 points on S&P, 500 points on Dow and so on. The 2000 level is an obvious downside target not just because it's a round number but it is the technical target of a head and shoulder, and it's also the most obvious level of horizontal support and resistance on this entire chart. Even if the downmove is going to be sustained, I'd be really surprised if we don't bounce significantly at 2000, and I'd be more interested in long scalps at that level than holding onto any shorts. Assuming I'm wrong and the neckline holds for now, even if we do break above the curve down, I'm still not interested in long positions in this market until we get a significant pullback after this very stretched looking bull move.
FX:SPX500Short
by BobVanders