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Nakedtrading

BITCOIN RIGHT SHOULDERLots of fun things and happening around the crypto world the past few months From Mr.SpankMan Fraud to banks dissolving out of existence and lets not forget liquidity crisis abound. From a fundamental standpoint things arent so great in the United States for crypto. STILL congress has dragged their feet and has yet to provide any significant framework for how they want crypto banks/business to run that are based out of the USA. This is in contrast to Europe and Asia where crypto regulations and regulatory bodies have laid out a much more concrete, if not still obscure, framework for how they want crypto businesses to operate. From a corelation standpoint, Bitcoin is becomming less and less corelated to the overall US stock market, which is a good thing in general and should continue. Silvergate is not helping the situation but the lack of liquidity only means that volatility will increase. In times like these i like to go back to technicals, and from a technical standpoint THIS IS SOME ELEMENTARY SCHOOL BASIC PATTERN FOREX TRADING 101 RIGHT SHOULDER, STOP LOSS BELOW "HEAD" BUY BITCOIN DUHHHHHHHHHHHHHHHHHHHH
BITSTAMP:BTCUSDLong
by NakedTrading4U
JPYX INC BULL SWINGJapanese Yen is nearing a crucial point of FIBO level 61 This level can be see as a pivot point for price action many times over and over again The yen fundamentally is in a 20+ Year run of Qualatative easing and negative interests rates The new BoJ Ueda seems very reluctant to use any type of terminology that leads one to believe that a swift change is on the horizon However the tides are still shifting for the YEN and the consensus of a great majority of economists in the region is that its not a matter of IF QE will stop, its just a matter of WHEN Assuming our critical fibo level holds as support for the WEEKLY uptrend, then we should see the DAILY/H4 trend turn from BEAR to BULL at these levels Our targets are painted by the Fibo Extension of the potential support levels
PEPPERSTONE:JPYXLong
by NakedTrading4U
USDJPY BEAR SWINGHere we see USDJPY in its final push upwards. As we can see by the chart 138.00 is a very significant level for TWO reasons 1. It is a major FIBO level that is retesting the overall DOWNTREND that we are on from a WEEKLY perspective, this has been a necessary retracement to the massive downward trend that we had begun late last year. 2. It is the 1.6 FIBO EXTENSION of our current Daily/H4 uptrend and at this level usually overbought/sold conditions exist Using this framework we can create a nice entry for our resulting swing downwards. This trade highly depends on the NFP data next week to come in not as HOT as last month
Short
by NakedTrading4U
1
CABLE BULL BREAKOUTAfter several weeks of Price action consolidating on CABLE inside of a DESCENDING WEDGE and forming several HARMONIC PATTERNS it appears as though we finally have a winner between the bulls and the bears. Based on the price action a bottom has been formed and a breakout of the WEDGE PATTERN has occurred. Assuming this is a STEP ONE BREAKOUT and a total reversal of the bear momentum, we should see a RETEST next week, potentially during CPI, and a KISS of the broken trend. Entries have been painted in two parts along with a stop loss BELOW the painted support areas @1.192, if CABLE is to break back into the pattern and challenge the bottom formation again, we will get out before it does so. If all goes well a new BULL TREND could form and CABLE will attempt to make a NEW HIGH
Long
by NakedTrading4U
1
USDJPY CARRY TRADE UPDATEFrom a technical standpoint we can see both momentum and trend intensity (angle) increasing. The retests in USDJPY are becomming less frequent and not as deep. Chances of continuing to the fib extension area of 138 is extremely high. Fundamentally the new BoJ gov nominee is known to be very DOVISH, Japanese yen should continue coming down to earth. Which makes the long term outlook of this pair rather difficult to analyze, however from a medium term a trip to the next fib zone should be expected
Long
by NakedTrading4U
1
CABLE BULLISH 3 DRIVEAfter some careful consideration of the price action I realized that CABLE was making a very RARE, DOUBLE HARMONIC pattern called the 3 drives. In this case it appears as though CABLE is creating a BULLISH THREE DRIVES DOWN harmonic pattern. Which would frame our sells at this point and give us a nice potential EXIT to any CABLE sells at point #3. From point #3 it is a very high likelihood that CABLE will experience some form of bullish impulse wave. The current trading plan is to ride the THIRD DRIVE TO THE BOTTOM, which is wave 3 of the second harmonic pattern that is contained WITHIN a 3 Drive pattern. After completion of wave 3, the size of the resulting impulse wave should give clues to the next step in CABLE
by NakedTrading4U
GBPJPY 4 Hr Analysis: Mid-Week UpdateHey guys :) So, after seeing some bullish movement this week, we are now waiting for price to retrace a bit deeper to that fib below and then show us what it wants to do from there. As per my analysis, I would like to see price retrace anywhere between 159.500 and 158.500 within the fib drawn above. It may not even retrace much further at all and just continue bullish from there. But I would like to see it pull back further into the fib if I am going to consider taking a trade. There are obviously many pathway options that price may take but these are just the main 2 that I would personally like to see at the moment. If price does not give me either of these I will Of course readjust and plan accordingly. :) Option 1: If price pushes higher into the fib and removes liquidity from the previous highs, then it is likely that price is just enticing and accumulating buyers before it drops and continues bearish. I would like to price push higher to about 162.500 or 163.500 before reversing as that will also satisfy and fill the imbalance to our left - But Of course it doesn't have to. Buyers will see it break the previous highs and think that price has broken Market Structure and is continuing bullish causing them to place buys left, right and center. Little do they know; price is only retracing further into the Higher Timeframe Bearish Fib, removing liquidity, and in fact, NOT breaking Market Structure. Basically, just performing the good old 'strike and reverse'. Option 2: Price will just retrace around the same area (162.500 or 163.500) instead of reversing and continue bullish for the time being. Again, these are not verbatim. As price changes and moves as it wants, I will react accordingly and make the corrections needed for my analysis and projections. :) Remember, it is not about being right or wrong. I know I always say this - but there is absolutely nothing wrong with being inaccurate in your analysis. The problem lies with those who can't ACCEPT being wrong and they try to hold on to their analysis regardless knowing that price is going against them. People think it's embarrassing to be 'wrong'. What's embarrassing is watching your stop loss being hit all in the name of your family, friends and Neighbours thinking you are right. Ego will get you absolutely nowhere in these markets and you WILL be humbled and fast! I can guarantee that there is nobody out there who is 100% right 100% of the time - And if there is, it's from YEARS of wins, losses, trials and error. Adaptation is the key to survival if you want success in this job.
by Pmilanoxx_
GBPJPY 4HR Weekly Projection - Which way will we Breakout?!Hey guys, GJ is still consolidating and is just accumulating liquidity right now. It is creating some sort of 'Flag', but as you can see, its also consistently hitting each fib as its creating the Higher Lows in that 'flag'. All it is doing now is just enticing everyone to take either buys or sells before it breaks out. The 2 options plotted are just my 2 main projections for the time being, and if it doesn't react that way I will OfCourse, readjust and reanalyze my views because remember - we are not fortune tellers, we just react TO price action and not predict it :) Option 1 - Price may come up and remove all bearish liquidity from all the Support and Resistance Traders that have sold from there (nothing wrong with that) and also fill that imbalance in price. Don't forget that the Overall Higher Timeframe Fib is there so it will hit that too. There is so many confluences for price to fulfill if it breaks out bullish, but also don't forget, it doesn't NEED to do that straight away it can breakout bearish and then come back for the fib, imbalance and liquidity later on. Option 2 - If price breaks out bearish it will remove all the buyers who bought at the fibs and the prior lows. I personally think that the most efficient and cost-effective route for price to take is to go bullish and THEN drop. But again, I can't make that decision because as we know - the market can and will do what it wants, all we can do is project our analysis and try to put ourselves in the best position possible for the outcome. And most importantly, don't worry if you are wrong or you are not comfortable enough to take a trade. If you are not 110% confident in your analysis and trade - DO NOT take it. Don't worry about FOMO, don't worry about 'What if price goes without me ' or 'What if it hits my TP without me?' Who cares!? Once you can shake these thoughts and feelings, you will truly see a drastic improvement in your trading consistency. The MOST important thing is your confidence and protecting your capital. :)
by Pmilanoxx_
Bitcoin BTC analysisUpdate from my last bitcoin analysis. Short term bullish (net 3-6 months), long term, we'll see once we retest the red lines indicating resistance & then fall back & hold the white diagonal line, signaling a trend continuation to the upside. If this happens, that's when I'll look to add to my crypto positions. News does't matter to me. I'm a trader. All trades show up in the chart. Talk with no trades taking place = distraction. Only cryptos I'm taking seriously: Bitcoin - just to trade & make money Ripple/xrp - if governments/businesses allow it as payment or the ledger gets used by large investors Solana - only because its used heavily in gaming XTZ - I was in it for the rate of return but they've dropped that from 6 to 3%, so I'm not adding as much Cardona/AAVE - small positions just to see if the tech gets taken seriously (not betting big on these)
COINBASE:BTCUSDLong
by BillionaireTomBoi
Beware of the Market at these levels (SPY SPX) I haven't posted in a while because since I entered a position in my SPX index fund, there hasn't been much to say. Until now. I'm posting this chart to show my updated levels & chart analysis. I'm NOT adding to this position until we retest the (diagonal) white line, indicating the current trend that we are in. At which point, we will either hold the trend for a breakout & retest of the high, or fail to the previous support level (horizontal white line at $3511.80). My green & yellow lines drawn indicate the projected path that price will most likely take, as we retest this heavy selling area that we are now hitting. I'm short term (next 3-5 months) bearish/short. Long term (next 1-3 years) bullish/long, after another significant drop in price. Since this is my Indexed retirement play, I don't plan to take any profits, only add to the position on price drops. May daytrade short positions into the resistance for the next few months.
SP:SPXShort
by BillionaireTomBoi