XVGBTC short term versus longer termI am still a novice trader and welcome any and all constructive criticism.
I have been waiting for XVG to end its decline and see where it goes due to its somewhat controversial status (pump and dump or not). I was hoping to ride a short term trend for some smaller sized profits but missed my entry. I am now going to exercise patience and wait until the price returns to or near the 4 hour trendline to look to go long. If it breaks the 4 hour trendline I will wait and look back to the past to find the next level of support.
Good luck and happy trading!
Novice
A Quick flip on 4hrA little oversold. Bullish reversal candle touching support with 50 mins to go in the 4hr. Favorable R/R ratio till next resistance.
Crunch price point around 8900Tightening equilibrium in weekly so we'll see whether we have a bullish or a bearish summer. On the daily, however, we have a couple of resistances to 11000 with is the next fib point. Scenario 1) inverted head and shoulders and retracement to 7600 for a chance to reverse. Scenario 2) we continue higher highs and higher lows in the daily.... then we may get to 9500 soon....
As always. I'm a noob so feel free to correct.
XLM Bullish on daily?Higher high and higher lows. Favorable (maybe even a start of a inverted hammer?) candle forming. RSI reasonable. breaking through fib level. If today candle close above fib perhaps another higher high for a short/medium term gain.
As always, any criticism to this noob welcomed.
Picking the bottom! Dollar cost average?Purple line drawn on weekly chart. Dotted line less conviction.
Quick support lines and fib retracement levels. Support just under 500 and 460 and 400.... candles bearish. But RSI 30 and historically the bulls rallied on ETH when it went under 30. In addition some hints of descending wedge (didn't draw in as not the best trend lines) .
For a noob like me I can find nothing to trade yet but for the investment part of my portfolio I may increase my holdings around each of the support levels.
Please criticise as appropriate. (especially if I'm using the fib wrong) Thanks guys.
Expecting sharp drop - overall BullishNovice trying to learn a little more on retracement strategies. I'm liking this RSI (14, close) indicator.
Took a nice (small) gain at the $8,301 placement but in a hesitant mod about the next trend. Most traders here seem to be going short and I feel we will break through the $8k mark (due to a little panic), maybe shooting down to $7,900 before a pull back to $8,290.
Trading here feels like gambling so I'll only buy in deep and leave this to the pros.
First target reached. Next?8900 resistance broken and on uptrend. Next major resistance 9500 and top of the descending wedge at 9600. If I didn't get stopped out by my trailing stop at 8800 I would set my target at 9.4k (ish). I now wait for the above 9.6k breakout and re-analyse... as always please feel free to be critical as noob.
BTC make or break.Purple trend line and horizontals drawn using weekly. If breaks above upper trend line confirms descend wedge and breaks below lower trend then it's a double top ........ long or short opportunities in a few days.....
My noob TA - second week learning. Feel free to correct or rip it apart!
Break out through EMA20 and 55 after consolidation, aphaOST liveA mixture of break out TA and good FA news. Good risk to reward ratio. Stop loss below all time low! Shout out to @CryptoRand at twitter for recommending trade. I then went and try do my own analysis as a noob. His risk to reward is about 300% mine only 30%
Bearish continuation or ascending triangle?If we hit 11520 then the red line makes it a ascending triangle?
Fib Level (learning) can't find support if it breaks0.238 650USDHi - trying to draw fib level, no idea if it is anywhere near right. Please tell me if I'm wrong!!! thanks for the community.
Bear trend. Channels drawn. Support broken......First channel drawn! Love the learning. Is my charting good bad or ugly?
Lesson for me. Be disaplinedEarly attempt at risk/reward with target. Target met - need to be disciplined as overtime I check the chat I wanted to change the plan. Lesson learnt - trade with method rather than emotion!!!
Noob practice trend line, risk and reward calculationI drew the lines and did the risk vs reward calculation at the time of the arrow. Learning everyday and loving it. Any advice welcome!
DGDBTC first attempt-is it a bull flag?Thanks everyone for the community. Please be gentle and if you feel my novice attempts are published too frequently just let me know I'll publish less.
I make the support at 0.524 and potential entry point around 0.537?
Any advice, criticism and corrections welcome!
(so noob that I haven't figured how to reply when someone comments on my chart)
SONM Cup & HanldeI've noticed a big cup and handle in the SNMBTC chart.
Possibly moon?
I'm not a professional so feedback is much appreciated!
Siacoin to the moon?Hi there,
Note that i'm not a professional, i'm here to learn and therefore feedback is much appreciated.
I've noticed two contracting triangles in the SCUSD chart. This in combination with the fact that the SCBTC chart is showing a massive cup&handle pattern makes me believe Siacoin is going to skyrocket soon.
Now i have to say i just started reading up on Elliot waves so correct me if i'm doing anything wrong.
Also i would like to know how i could place the last 5 impulse waves on the correct height when a symmetrical triangle like this occurs. Is there anybody who can give me feedback on these questions?
Thanks in advance.
Zig Zag?Hi there,
Note that i'm not a professional, im still learning Elliot waves so feedback is appreciated.
I think this is a single Zig zag correction. I've counted the waves and i can find an ABC pattern with 5-3-5 subwaves.
I was wondering if wave 5 of C could be higher than wave 4 of C in this type of correction? Are there any experienced Elliot wave analysts here who can give me the answer?
Because if 5 cannot be higher than 4 i believe price will drop down to complete the final wave of C .
I made an analysis a few day's ago which is showing us a bullish descending wedge this in combination with this zig zag correction pattern makes me think prices could go up very soon.
I'd like to know what more experienced analysts think of my interpretation.
Thanks in advance. :)
Correction might be overCorrect me if i'm wrong, i'm still learning elliot waves and would like to learn more. So feedback is appreciated.
I believe the abcde correction on btc -1.07% is almost over. If this happens we will probably see it bounce back.
The head and shoulder formations shown by the pink lines all point towards the same bottom line. Around 10179,-
This is also where the bullish descending wedge ends. Once it hits the 10000 mark it should climb back up and continue with an impulse wave. If it breaks below the 10000 line than i believe it will drop to its next support around 8000.
Please correct me if i'm making big mistakes here, i'm not a pro.
USDJPY If it touch the green line is time to buy
Buy Stop 111.950
Stop loss 111.000
TP1: 113.000
TP2: 115.300
Short AUD/USD based off my Price Action Study
I've been looking for a short opportunity on the 12hr and 8hr charts since price action has been so bearish on aud/usd and there were a couple of triggers lining up that motivated me to enter a position. Main one being the daily chart above
bearish trend
price has pushed back up to support/resistance area
12hr chart showing indecision candle
Entered a little later than I would have liked, however I think I have pretty tight S/L and the postion has a 1:2 risk/reward ratio
Price Action study with S&R AUD/USDThis is a study of AUD/USD price action from a novice forex trader's perspective just shy of 2 years live fx trading
The aim of this study is for me to get better at the following:
identifying "key" support and resistance levels
identify good trade setups based off of my analysis of these support and resistance levels
better understand the currency pair's price action in order to make better analysis and trade decisions
learn from any mistakes I make in my analysis, trade setups, and biases on price action
AUD/USD Daily
Price has made a strong bearish moves down to a support area at ~0.71688 level
Last time this price played a support role was back in June 2016
With the strong move down, and a historical support level, I like the idea of a short after price pulls back up from the support level. I think that price will try and test 0.71688 again
Trade setup would only be valid if the daily candle closes in resistance area showing an "indecision candle"
If price continues moving up I would wait for price to find resistance at a another level
AUD/USD Long Setup off of support
Price started off 2016 with a strong bullish trend capping off with a high at 0.78340 , and lost momentum
Potential Long setup, if price reverses and bounces off of support at ~ 0.723257 levels with tight stop loss and good risk reward ratio 1:2.5 or better. Price may also slice through this level and drop down to ~ 0.71830 levels
I would be looking for today's daily candle to indicate some sort of indecision after the close i.e doji / hammer / spinning top candle before placing an entry order.
Also some indication on the smaller time frame charts 12hr, 8hr, 4hr of the downward momentum slowing down.
Indecision candle formed on the 8hr chart, but I want to wait for daily candle close, to see price hold at this support level and then place my entry with a tight stop-loss just below the low of daily candle close
* any feedback is welcome
