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M-formation

BCHUSD Flag Formation: Next long set-up on breakBCHUSD Update What a difference a week makes. Within hours of the last comment BCH had fallen away to a low at 1631, 7 points lower than the perfect entry point at 1638, before ripping 300% higher in 6 days flat. Facebook eat your heart out. Now it's in the process of making a flag formation which will stay good so long as the rising dynamic from the beginning of the move holds up price on all tests. A break above the upper parallel that's containing this downwave will be worth following for another retest of the highs... And on the flip side of this particular coin, if that dynamic from the 'lows' at 1766 gets broken at any point now it will then fall away further down the same parallel to 2420 where it should bounce once more.Although it looks more likely to break up rather than down from here, we don't really have to second guess this right now. The chart will tell us and we can follow.
BLong
by sumastardon
2
Bitcoin BTCUSD Watch out for potential Head and Shoulders hereBitcoin BTCUSD Update If you got long again at the ridiculous hour of 11.30 pm est you're hard working and deserve your 400 points reward. Weirdly the crypto chat room was quite quiet with a guy from London waiting for the BCH burst to top out so he could bail out and fade the consolidation. London's finally catching on. 2018 will be so fascinating and fast moving. It's good for competition, good for spreads and good for us therefore, in time. Now, finally people are taking BTC very seriously. So many Bitcoin jobs to be created now. How long for though? No one can answer that one for us but if anyone will know in advance it will be GS. And the chart. Until that day comes we ride this like nothing has ever been ridden before...in the entire history of speculation. Ever. We are alive for it. Wow Right now Bitcoin is trying to track huigher but is, weirdly, being contrained on the upside by an old parallel from way back in the mists of time (hell, it's 14 days old - that's 2 years in FB time!) - and yet it's clearly back in play once more, stopping the rallies. Another nice day in prospect for day traders but not much for others right now. It's trying to hold a newly forming little parallel off yesterday's lows and needs to keep holding up there or we have a danger of a head and shoulders forming here off the top, with a neckline at 15809 and a minimum downside target at 14210 if it gets broken. Time will tell but right now this is not a very strong pattern, except for day traders. Unless you look to short if head and shoulders gets completed later on, as above.
BITSTAMP:BTCUSD
by sumastardon
2
GBPUSD: Flag formation signals more GBP strength in offingGBPUSD Another Dog that hasn't Barked Today's price action shows big spikes either side of current price, denoting uncertainty on both sides of this fight. But GBP has stood strong as the Dollar surges...what is it likely to do when the Dollar stops? Sterling has spent all year defying the bears. By the look of the flag now forming that situation looks unlikely to change. Two strikes (another retest is fine if it happens soon) means that so long as the lower parallel continues to hold up today in the face of DXY strength GBP is a still a buy at these lower levels with stops below the parallel for small loss if wrong here. And if so, and the lower parallel of the flag does give way GBP will likely fall away to 1.3237-1.3223 and then bounce from there. As things stand though, GBP is showing underlying strength despite current weakness - and that will remain the case so long as the flag formation remains good. Ultimately GBP should hit 1.38 and above - about 500 pips upside and 30 or so down
Long
by sumastardon
BTC/USD Finally a potential breakout!!!After a final inspection after the market played out overnight it does appear to finally be in position for a a bull run. The 10/18 impulse wave ended on the 4th wave and started a diagonal triangle formation. The 4th wave overlapped into the 1st wave thus ending the initial 10/18 impulse wave and a beginning of the of the diagonal triangle formation. The support from the 1st wave to (D) 4th wave of the diagonal triangle formation has held. Still in the point of control area of the volume profile with RSI still oversold. We will soon hopefully have a breakout from the wedge to finally have a last bull run to complete the (E) 5th wave of the diagonal triangle formation.
KRAKEN:BTCUSDLong
by Black_Swan-
10
KSHB off bottomRecent news has led to an increase in volume off a higher low. Has potential to break 1.94, then 2. Enter below 1.94, risk under newly formed "base," approx 1.80. Target 2.15+. Volume isn't crazy high relatively, but with a breakout it could begin a parabolic move. I could be too early, but I'm willing to take the small risk. Weed stocks could get a boost very soon with new voting in November and rollouts from last year's voting results initiating in November and launching January 1, 2018. Start watching closely for volume increases.
KLong
by StonksCrypto
1
USD Index/DXY short idea (H1)Hello, All! USD Index TVC:DXY is currently forming the slightly incorrect bearish Wolfe wave. I would like to underline that this pattern is not a classic one as I'm ignoring extremely long lower shadow of the candle at point 4. After August NFP/employment/wages data missed forecasts, the USD crashed badly in just 1 min, but returned back to the pattern's structure almost instantly. In this particular case as an exception, I consider this move to be more the market's emotional reaction rather than the real formation of point 4. Other than that, this pattern looks solid and if the price makes a peak around point 5, this can become an interesting sell opportunity. GL and profitable week!
TVC:DXYShort
by OceanBlue