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QTUM BTC Soon to make a decisionHi, This is the first chart I've ever (really) done after learning so much recently. I'M NO EXPERT. I submit this in the hopes of getting constructive commentary, discussion, fun and an opportunity to learn. I would love some of the prominent Crypto chArtists here to give pointers, and especially illuminate flaws, mistakes and presumptions. PROS QTUM has had a lot of hype lately and has been called a direct competitor with NEO. Both have been very bullish. Both have stalled a bit with BTC's meteoric rise... BTC currently 43300.02 as I write this and ATH. QTUM has less history to base technicals on. Shape closely parallels NEO in earlier rallies. I PREDICT people hoarding and hodling NEO due to NEO coins, which means less to trade. I'm still bullish NEO. CONS QTUM is younger and weaker than NEO I don't know if it will generate the kind of residuals as NEO QTUM completed an almost perfect head and shoulders formation at 7:30 am PDT August 14 ITS DECISION TIME FOR QTUM - QUESTIONS If BTC re-traces, (and it has to) will that encourage QTUM to rise again? What is the time limit for that to happen before QTUM breaks down? Thanks for your time and attention. johann
by mysticyak
1
USD/CAD 8hr Short setup and entry Price had a nice bearish push down to ~1.24391 levels before finding support Price bounced up off these levels up to ~1.25515 levels and found possible resistance as price hit this ceiling and push back down. 8/2-/8/3 on the Daily price is back at ~1.25515 resistance levels it may continue trending up but I'm thinking USD continues its bearish trend ("the trend is your friend" no?) 8/3 Daily Candle closed with a "spinning top" formation ( still trying learn and implement candlestick patterns into my strategy and trading) indicating possible indecision at this minor resistance level 8/3 12hr Candles closed within the resistance levels I established in my analysis short setup was looking good to me Trade entry order I placed an entry order with a tight stop just above the high wicks of the previous candles entry price : 1.25786 stop-loss: 1.26222 limit order: 1.2488 (50% of position) Risk/Reward ratio : 2.15 limit order 2: 1.24391 (after first limit order is hit)
Short
by psyd3fx
FNTP: USD/JPY Small retrace, then long for several days"From Noob To Pro Trader"-series: another test case and prediction from a complete noob :D. My mission is to become a better trader by making solid predictions. Then, learn form my mistakes and enjoy the times I was right. I predict that, when the AO gives confirmation of a bearish market on the 4H level, we go down for a few hours, then we'll retrace from there and long for the next few days (bigger timeframe). Any help & comments from pro's welcome! If you want to support me, join 1Broker with my referral id: 1broker.com
Short
by polyclick
Potential Gold Reversal Publishing a potential reversal in gold, offering an initial 6.8 R/RR i think NFP tomorrow will ultimately determine the direction of this. Would be happy to short if 1250 breaks as the risk / reward simply inverts and offers good potential. Looking very oversold on the RSI but it has been lower in the past. Also, we are on our 8th consecutive down day, which i believe has only happened a handful of times. Probability is, therefore, also on our side with this trade.
FX:XAUUSDLong
by Sken89
USD/JPY 1 Hour Learning to identify good entry pointsI watched price stall at a resistance level ~102.586, unfortunately missed a move I was contemplating on trading down to a previous strong support level ~ 101.00. However, now that price is in this, what I think a very strong support zone, I'm going to wait and watch where price goes. There are 3 possible set ups I would look for, and all 3 are a bounce off a "minor" or "major" resistance level My plan is to wait and see: If support level holds up against price If it holds and price starts to pull back up I'd like to see it find resistance. Play the bounce off resistance with first target back at support ~101.00 unless price actually moves all the way back up to ~102.586 then I would move my target higher up This is my first publish chart, so any feedback/tips would be greatly appreciated. I am also a very novice trader, no financial background, self-educating and eager to master my analysis. If I'm identifying indicators badly or missing something like the "big picture" please point it out to me. Thanks in advance
Short
by psyd3fx
hope for a better future for dapps with paritynoob warning - I'm a noob. consolidation, pump, retrace, consolidation, pump, retrace, consistent pattern of all time highs would be confirmed with a 3rd all time high in a row, and likely give enough confidence in etc to break trend and go even higher. at the moment going for 0.007* but depending on momentum might go further. I'll consider opening eth short in 20 hours. eth failed to break top even with finex uncertainty distracting people from etc. eth has been stuck in downtrend for a week. support trend is stable, can have very tight margins on longs and eth shorts. set alerts to watch etc price, possible someone might try to break it down before pump artificially. overview opinion: etc now pretty secure with eth devs working on important updates that work for both, and etc having a large dedicated team now thanks to original eth co-founder's efforts taking over. bert influence over etf market is essential confidence boost and possibly very good timing for his hedge. eth can't break habit of blaming decline on conspiracy theories and not decision making that led to so much doubt. 1. polls used to evaluate consensus were very small fraction of eth community and guilty of every single inaccuracy for opinion poll listed on wiki en.wikipedia.org . This greatly reduces confidence in eth leadership decision making. Profit seekers were more motivated than people protecting trust in ledger integrity, carbon poll favored large bag holders with significant stake in dao, miner poll was also very underrepresented and hard to trust due to ease of hash rent. the eth foundation bias towards bailout was too strong of wording bias to have confidence for fork decline. many eth holders can't follow eth news closely and were not expecting ledger integrity to be compromised until news broke. 2. miner consensus is poor indicator of consensus. one chain typically only wins because only one will have sale value to miners. once etc had value, for-profit miners simply follow profit with some time delay for switches. 2. immutability of ledger is at foundation what gives decentralized ledger value. when ledger is open to subjective bias of only a few percent very few other divides could be as strong as the d 3. eth needs to decide whether it's a service or money, as services have to compete with other similar services, and money doesn't as network effect is more important. eth wasted too much time on third party hack. competition such as krypton, shift, etc gaining lots of traction, and a very unified community sentiment against eth move suggest lack of support. highly doubtful a technical fork could've unified so many people against a single entity. it's not a good sign when editing a ledger, is forever associated with eth. after a humbling parity is reached, hopefully the devs can come together and work on progress instead of fighting. every alternative dapp team has expressed disapproval in eth move. as a small player, have to follow the market and not fight it, a week of consistent trend, practically entire lifetime of etc, is too strong of signal. I wish everyone good luck, please be responsible with your money, and stay safe.
Long
by spacetrader
5
My GBP/USD Range For Week 24 Of 2016From what I am expecting is that the GBP/USD will consolidate in this 1.40-1.435 zone (unless there are some new fundamentals, and with Brexit 2 weeks away I will not be surprised. This is the zone I am looking to trade the GBP/USD in, until it breaks out either way. Anyway, expect lots of volatility next two weeks. This week is also a big one, so anything is possible, trade with care. By the way, I am in no way, shape or form an experienced trader (or maybe not even a trader), so follow this at your own peril :)
by ibo2
Gold Miners Trying to Hold it up! $GDX$GDX Looks to me like it is going through a 2 and half week to 3 week consolation cycle before continuing its rally, that started with a breakout and subsequent bull market end of January, start of February. (Which was right about when I got into trading more seriously.) I am unsure of which way to go here. This Brexit thing has been an incredible learning curve for me on my travels. But also rather hard to place any trades. In-fact, I have only been able to place minor scalps (not my strategy, I tend not to do this. Again, learning curve.) on FX markets and a couple of futures lost me some profit. I like Gold stocks for obvious reasons, (economy, safe havens. etc.) So the miners index is an interesting one. I would wager the long side long term. Short term? It needs a bit of a reality check before we see further upside. I expect other markets to retrace from their losses soon but not for long. So Gold will (maybe!?) continue it's uptrend for the rest of 2016. I am strapping in for a bumpy one.
AMEX:GDX
by Onions