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USDJPYHello all - DuncanForex.com here with another trade idea As per my Gold short trade - I think USDJPY is ready to head a lot higher. (see related trade below) On the monthly chart it printed an amazing pin bar (back in Jan) It is now at the 61.8% retrace level (just under it by about -60 pips (on a weekly chart) I think this could head up to 115 level easily on a Fibonacci extension. I have entered 3 trades at 106.91 area DuncanForex.com coming soon (about 1 week) Thanks for looking Duncan
Long
by UnknownUnicorn483829
2
why bitcoin isn't dead and will go up soonI drew the original trend line back in mid 2017, as you can see, we had exponential growth, and of course the winter crash. After the major crash, it touched the original trend, with only a shadow, and then tested it 2 more times, both bottoming out at the bottom of that trend line. We can see this is an extremely strong trend line, dating all the way back from March of last year. I believe after the rest of the mt gox funds are dumped, and if any remaining governments decide to ban crypto, we will finally break out of this trend again. With bitcoin becoming more of a store of value, and safe haven from trading alts, it acts more like a long term investment, or the stock market average.
BITFINEX:BTCUSDLong
by tradingnomad
2
DXY Dollar Index As Confirming Indicator for USD PairsDXY Dollar Index The dollar never quite reached the upside target here, falling 11 points shy of the 95.15 line before it was met with the most determined selling pressure we've seen throughout the entire rally from the lows. And although it's rallied from the 94.01 support line it has broken below the lower parallel now and so the 6 week-long 6% untrend is now in potential danger. Any failure to hold 94 here will create more selling back to 93.36-93.12 range at which point it should bounce away to the upside once again. This break below 94 is also needed to trigger the next EURUSD long, please see EURUSD update for more details. DXY is still probably the best confirming indicator we have for trading USD pairs.
TVC:DXY
by sumastardon
BTCUSD: Bitcoin - Clear and Still Present Danger BTCUSD Bitcoin Must apologise for rubbish call yesterday and no follow up. Was expecting a period of light relief over the weekend. No such luck. The spike that came shortly after the match had finished was a big one and the ensuing rejection period flipped Bitcoin straight back down to the lows again and triggered a short from 7399 as it broke below here. If still short here can either close out again for 90 or so profit but ready to short again on a break below 7200 - it may only reach 7162 at first and try to rally back to 7200 but once this is broken below it should decline in stages back to 6615-6517 range. But in the nearer term Bitcoin is trying to rally again - it's still thin and treacherous and still cannot trust this counter-rally even though it can push higher again from here. There's a good spike off the lows today so it looks like another continuation pattern is forming now. But there is no upside here worth contemplating so far except for brave day traders who may wish to follow a break above 7350 on Bitfinex looking for 7467 and maybe 7540 at likely best before it comes off again. Otherwise we have to wait - again - for that probable break lower, when and if it eventually arrives. Patience. A virtue. This is the lesson of 2108. 2017's watchword was HODL. 2018's is PATIENCE. We have to learn it and adapt to change. Not what anyone really wants to hear. But it's true nonetheless
COINBASE:BTCUSD
by sumastardon
22
WTI: USOIL A Big Week of Opportunities AheadWTI USOIL Week Ahead WTI has fallen away in a straight line ever since the short triggered on Thursday and is now around 390 or so pips to the good. It should fall away a little lower still, towards the first support line at 67.22 and can spike down to 66.48 at likely lowest before it starts to bounce away to the upside again. Look to close out at least half of the short and drop the stop on the rest to just 11 pips above current close (but not until London opens). We should see a good rally from this range back as high as the 69.48 line. If wrong at this point and WTI finds no support arriving from London it will then plunge lower still until it can find buyers again at the 65.55 line where dynamic and fixed support lines meet. From a bull perspective this level must hold through the coming week at lowest. Any failure here will tip WTI into deeper bear territory still and force a capitulation move back to 61.92. Some good trades still to be had from this complex. Second only to Bitcoin for volatility and fine trades - but the spread is wider, which is odd considering the great old age of one complex against the infant's age of the other. The old and the new. Probably the two best playing-fields across the entire spectrum of investments - for active traders and momentum traders alike. But ETH is beginning to challenge this hierarchy as the weeks pass by. More on that one later
TVC:USOILShort
by sumastardon
2
DXY Dollar Index: More Consolidating of recent gains likely DXY Dollar Index: Consolidating recent gains The dollar is consolidating recent gains after reaching a high at 94.06, some 14 points shy of the medium target here. My bad and not a fault in the chart, as there is old resistance at the 94.03 level from the end of last year, as the chart clearly shows. Sorry for that. Anyway DXY (and USD pairs) look like they have some more unwinding to do in the near term and DXY should come back down the small parallels it's beginning to form to the 93.12 line which must then hold if the dollar is to remain firm for the rest of the month from here. Any subsequent failure to hold the 93.12 line will trigger another near term bout of dollar weakness back to 92.55-92.25 and at the same time trigger EURUSD longs (and across most of the other pairs too.) On the upside, for the Dollar to escape this period of consolidation and avoid a retest of 93.12 it has to break back above the upper falling parellel from the high and then hold at the 93.36 first line of support on the first retest from above. But that looks unlikely in the very near term, as above.
TVC:DXY
by sumastardon
Be Aware Of THIS ScenarioBe Aware Of THIS Scenario Should we actually break down, which is very possible, then do not panic! I see that in people who act emotionally, again and again. You are selling, Bitcoin is actually going down $400-300 and you are thinking that it will fall more. After a few hours you will see that the price is back above your selling price and that's how the clever people manage to reduce your money. Mostly, you hope that the price will go down a bit more to buy at least at your retail price. What is happening? The price goes up and up until you are forced to enter emotionally, just when you are in a correction again. At my last Bitcoin idea you have seen that I am very uncertain about the current situation. The question I asked myself was: Scenario 1: Are we going up now? Scenario 2: Are we going to make a bigger correction before going up? Personally, I prefer the second scenario because it would 'kill' the longs again before it goes up. But I think that the first scenario will happen, because it looks very much like a structure I know. So, no matter what happens now, I assume that we will go up afterwards and people will be scared. The market decides. Note: I'm sorry that I upload this idea for the third time now. Had problems to show both scenarios in one idea to make it clearer.
BITSTAMP:BTCUSD
by EWHALE
34
ALPHABET: GOOG Nature of the BeastALPHABET: GOOG Alphabet has two habits: it makes significant double tops quite often (3 times in this 2 year bull run so far) and when it creates a gap at earnings season it usually comes back to fill that same gap around 4-5 months later - and when does this it tends to do it twice, creating double bottoms as well as double tops. This is the one stock amonst the FAANGs that displays this kind of repeat behaviour so clearly, with one glaring exception, shown at the blue arrow. The biggest correction in the run is 15% in early 2016. Taking 15% off the highs = 1000. And 20% is 940, which coincides with fixed support at 942 and the lower supporting parallel. Perhaps in a panic it may spike this low but looking at past behaviour it should find support again at 987 by the close if it does fall this far first. Major suppoort exists at 904-900. It will take a close below here to derail this train.
NASDAQ:GOOG
by sumastardon
2