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Measuredmove

USDCAD outlook USDCAD formed a nice inverted head & shoulder on the D1/4H/1H charts. Most of this year the pair's consolidated between zones. This recent move started near the top of the zone 1.31307 and the impulse ended near the top of the high zone 1.34669, breaking the consolidation. Looking for price to complete a pullback and will look for a long entry. A 50% retracement would be near 1.32999, the top and bottom of the recent zone are line up near the 61.8 (1.33412) and 38.2(1.32654), I'll be looking to entries at these areas which also line up with the neckline of the head & shoulders pattern. Measuring this impulse move is 338.2 pips, taking a trade from either of these levels, I would look for the full measure of the move, this also lines up with the January highs.
Long
by Cory4rex
ENPH outlookThe weekly and the daily both line up clean on enph and the are following the Fib levels up. Each of the moves have been measured moves. The first move from 1.39 to 7.63 was 634 points and the move retraced 38.2% to begin the current move. This move started at 3.76 a 634 point move be near a completion of the 2nd move near 10.01 the rejection area. I'd expect retracement to the 38.2 to around 6.11 and a complete of the third move to the high of 12.43. Daily markup: Weekly markup:
NASDAQ:ENPH
by cory4rex2
Descending Triangles within a Larger Descending Triangle - $2200I believe we're forming yet another descending triangle. If we look back at the larger descending triangle that we broke in 2018, we achieved the % measured move to our recent low of $3150. The bigger pattern is a falling wedge. If we play out the measured % move of the new descending triangle, our target will be $2200 which falls in line with previous support during the 2017 bull run. In addition, the previous 2015 low was 86.9% drop from the peak. If we use the same percentage, that will take us to a low of $2600. There is a lot of confluence that shows a bottom in the $2k range.
BITSTAMP:BTCUSDLong
by dcardona1
1
USDJPY Measured Move Down and Butterfly FormationsI want to approach the matter technically. I will share my fundamental approach on a detailed USDJPY forecast later. According to the Bulkowski’s definition which I completely agree, MMD algorithm finds three consecutive turns, starting with a minor high then a minor low ( start of the corrective phase) then a retrace of at least 70% ending in a minor high( the end of the corrective phase – According to my backtests “Fib 50% – Fib 61.8% ” is the perfect retracement level – It is assumed that the next minor low will end the pattern at the bottom of the second leg. According to the measured rule, as seen on the chart, the target of the pattern 109.100. The trading tip can be described as “If the price nears the target or support abounds near the target as price approaches, close the trade.” I will set my target as 109.200. I have two reasons for setting up 109.200 as the target. 1. Bullish Butterfly Pattern on the Daily Chart – Fibonacci 1.27 extension- 2. MM 4/8 Main Support/Resistance So I will look for a long opportunity somewhere between 109.2** – 109.1** and my first target will be 110.100. I will send entry notification to the members. An H4 Closing below 110.200 will be the confirmation of the MMD pattern targeting 109.200. Note: Midterm Fundamentals -Demand for Yen as a safe haven asset – confirms the shorter-term bearish continuation in USDJPY. Happy New Year
Short
by chartreader_pro
2
UPDATE - LTC Analysis Based On Measured Move and Fibonacci.LTCBTC has been holding quite strong despite how other coins have seriously dropped in prices. However, this coin has the potential to fall more based on some little technical studies. We found this analysis on two measurements. 1. The 38% and 50% Fibonacci retracement levels: You will notice a support and resistance were formed at 0.00759 and 0.00985 on the 10th and 24th of September 2018 respectively. The mid-price between these two prices is 0.00872, and as seen on the Fib. levels, LTCBTC tested the mid-price (50% Fib) as resistance on November 5th. The same case goes for the 38% retracement level as LTCBTC tested it as resistance as well. This was necessary for LTCBTC so it could gain momentum to break the support at 0.00759 which has occurred. 2. Another study is the Measured Implication which seems to have played well on this coin. Measured Implication or Move is the equal vertical distance between lines A and B, projected downwards to line C. LTCBTC seems to be giving us confirmation that this process may play out. When the measured move is calculated, the price is 0.00533 which is extremely close to our target/support at 0.005346 formed on the 4th of Dec, 2017. This is a weekly chart, so it may a couple of weeks to play out...if we are lucky. What are your ideas on this coin? Please share.
Short
by georgime
Bitcoin Daily Update (day 277)I believe that it is possible to beat the market through a consistent and unemotional approach. This is primarily achieved through preparing instead of reacting. Click here to learn more about how I use the indicators below and Click here to get my complete trading strategy! Please be advised that I swing trade and will often hold onto a position for > 1 month. What you do with your $ is your business, what I do with my $ is my business. For a variety of reasons I no longer believe that $2,718 will be the bottom of the 2018 Bitcoin’ bear market. I am now very confident that we will return to $1,000 before finding a bottom. That is due to Tyler Jenks’ hyperwave theory and the Point of Control on the Visible Range Volume Profile with > 2 year look back | Calling for $35 ETH before the end of 2018, however I do not believe that will be the bottom. Strongly expect ETH to return to single digits before the end of 2019. Previous analysis: “Still expecting consolidation towards the 33 MA, however the next 24 hours are crucial. If we breakdown $3,420 support then that changes everything.” Position: Short ETH:BTC 0.03109 | Short EOS:BTC from 0.0008057 | Short XRPBTC from 0.00009434 | Short ADA:BTC from 954 sats | Short LTC:BTC from 0.00778 Patterns: Hyperwave Horizontal support and resistance: S = $2,750 - $3,000 | R = $3,400 should become resistance BTCUSDSHORTS: Threatening a brand new ATH’ Funding Rates: Longs receive 0.1318% Short term trend (4 day MA): Fully body of the candle below Medium term trend (9 day MA): Rolled over hard Long term trend ( 33 day MA): Bearish af’ Overall trend: Bearish as it gets Volume: Declined as the flag consolidated and has started to increase on the breakdown Candlestick analysis: Today closed an extended range bearish candle that wicked of a throwback to the flag Ichimoku Cloud: Basically useless when the market starts moving, and this isn’t even that volatile imo’. This is why I mainly like to use it as a not trade zone. TD’ Sequential: R6 / A13 Visible Range: Point of control = $950 Price action: 24h: -11.33% Bollinger Bands: Bottom band = $3,137 Trendline: Expecting bear flag to form top of new bear trend Daily Trend (Using 1h 33 MA to identify daily trend): Bearish and starting to line up with the expected trend resistance Parabolic SAR: $4,370 RSI: Confirmed h&s Stochastic: Oversold. Will it get stuck at the bottom? Last Day Rule: Did a great job. Starting to wish that I went with my normal stop entry right below. Summary: I cannot remember the last time I saw this many strong signals from both bulls and bears. I am actually very interested to see what happens over the next 1d - 1w. Bullish Case BTCUSDSHORTS’ are threatening ATH’ levels. Makes me think of ETHUSDSHORTS’ blowing through the prior ATH’ in September and continuing to make new ATH’s. Going long when BTC’ shorts are at an all time high has been very profitable this year. However that cannot last forever and this could be when it changes. Nevertheless the funding rates are getting unsustainably high for the shorts and it really feels like a return to the mean (~0.01%) is necessary. Furthermore the price action is -11.33% over the last 24 hours. The reason I always am sure to check is because I have gotten rekt enough time taking sweet setups, like the bear flag you see below, when the price had already moved > 10% in 24 hours. That is why I have a strict no trade zone if, for example, I want to long when the price is > / = +10% in the last 24 hours. That type of movement is unsustainable as well. However in order to see capitulation we need that type of unsustainable / unimaginable price movement over ~ 1 week. That is when people really start to freak out / panic. Bearish Case Bear flag to $1,650 Consensio is fully bearish (4 / 9 / 33 MA’s). My most important indicators are Consensio and patterns. When things look neutral and the trend is firmly going in one direction then it is usually very, very profitable to bet on the continuation of the trend. Nevertheless, I am in a no short zone on Bitcoin’ / Eth’ due to the price action over the last 24 hours. Furthermore, I see too much support from < / = $3,000 and I do not like the risk:reward of entering a short.
BITSTAMP:BTCUSD
by Sawcruhteez
5
A Minor Reversal Setup On USOIL USOIL opened with a massive gap that broke through some resistance lines outlined in the earlier posts. Currently the market participants are seemingly waiting for a pullback to enter limit buys and potentially targeting couple of hundred ticks. This chart shows possible price movements during the next couple of weeks. Limit buy orders around 5225, the top of the previous pullback range, with wider stops seem reasonable for now. It is recommended to reduce the position size to 1/2 and add as the position moves into green territory.
TVC:USOILLong
by Zoen_Trieste
Follow Up On EURUSD DailyEURUSD demonstrated a sharp movement higher after touching the 50% retracement of its first setup bull leg. It is reasonable to be taking profit around the 61.80% area if one's short or having limit buy orders if one's looking for a pullback trend continuation play. At this point, we've had a measured move lower, some call it a bear trap, and a sharp reversal higher into the previous trading range. In terms of probability, reaching the top of the trading range around 1.1875 seems has better odds.
Long
by Zoen_Trieste