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Possible break out? There has been really nice bounce and price is now testing the sideways resistance, if we break out and we manage to stay two 1D candless above the sideway line, then we could see rally to the first resistance (yellow line). If we break more down, then we could see indices that Bitcoin is going to retest the 3.100 USD price. The market is highly manipulated, especially at this low volume. Stay sharp, its better to buy BTC with even more discount if possible, however I believe we could go temporary up to 4000-5000 USD if the break out will happen and the price bounce nicely.
BITFINEX:BTCUSD
by Rezonator23
EOS prospects & triangle: How to trade fake-outsjust now Situation: EOS is currently still correcting. WXY has just finished, and after it hit a big support it bounced up, and is now forming an indecisive correction pattern (Triangle or ABCDE). Triangle's are relatively easy to trade so i've set up some important price levels in the chart that will be decisive as to which direction the price will be going once crossed / touched. How to trade: Triangles these days are full of fake-outs. Some people say it's because many people are watching the same patterns, which makes them destined to fail. I don't know the true cause, but it doesn't really matter. We just have to find ways to capitalize on it. Once the 2nd top / bottom of the triangle is broken the chance of a real breakout is higher than when it just breaks the converging diagonal. Break of the 2nd top / bottom almost always results in break of the triangle high/low. So it doesn't make the strategy much better by only buying the breakout of the high / low, since the risk to reward will also decrease and therefore lower the profitability of the strategy. Buying the 2nd top / bottom breakout, will protect us more against fake-outs, than buying when it just breaks the diagonal, and then break to the other side. What if: 1. The 2nd top breaks, but it does reverse: Fake-outs are almost always followed by breakout to the other side. So we put our stop loss not on other side of the triangle, but on the last 4h low of the fake-out rally up / down. Since we don't know this yet, its difficult to tell now, but usually it's a stop which is 7-10% below entry. 2. The triangle breaks up, but doesn't reach target: We have to manage the trade on the 4hour timeframe. Conservative traders can take (partial) profit on price/oscillator divergence or other signs of reversals (news, bitcoin -0.87% -0.77% breakdown, etc).The amount of profit you take is based on your risk appetite. Every reversal signal you get should result in you taking partial profit. Once price eventually does reach your stop-loss, you can exit at least with some profits. 3. Triangle breaks up, and reaches first target: You should take partial profits here. You can close your entire position or just take partial profits, all up to you. 4. Triangle breaks down, and reaches big support: I wouldn't like a scenario of a breakdown, because the big support is decreasing the risk to reward on this trade. If it does break down you should take partial profit at the big support, and then either get stopped out on the rest of your short, or wait till it reaches the triangle target / demand zone . Make sure you took enough profits to be net positive once you get stopped out. Target: Break up: The min target is 26%, with a potential of much more (6:1+). The Risk to reward of this trade is at least 3:1, depending on the location of the stop loss (4H low of the rally up or down). Break down: The min target is like 10%, and the max target around 30%. This will result in about a 1:1 - 3:1 R/R. ALTERNATIVE PLAY: Wait for a fake-out to occur, and once it breaches: 1. The 4h higher low. or 2. the diagonal on the other side or, 3. The 2nd low/high of the other side. open a position aiming the opposite targets. Again, scenario 1,2,3 is based on your risk appetite, with scenario 1 being highest risk, and 3 lowest. I will try to update it once price progresses in time. Good luck traders!
BITFINEX:EOSUSD
by RegideTrader
Big bull pump after mega bearfake should send us to $6715Very exciting price action in the past hour looks like we are now back above the 4hr 50ma and appear to be breaking up out of the symmetrical triangle...this could be another megafake the other way of course so we must take that into consideration and still watch for candle close and follow up confirmation candle price action but at the rate it is flying upward probability is very high that we will see a bull break...be prepared for a bull trap though just to be safe.
BITFINEX:BTCUSDLong
by DrDovetail
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
EURUSD Trying For Break-Out Counter-Rally HereEURUSD Trying For Break-Out Counter-Rally now Using DXY as the confirming signal (please see DXY updates) we've been short EURUSD for some time now, looking for a test of 94.20 on DXY as the likely medium term top for Dollar strength across the pairs. That came yesterday (too busy shorting Bitcoin to notice, sorry for that). But EUR didn't quite make it to the next downside target at 1.1665 here, bouncing away 11 pips higher than really expected, though it did bounce precisely off the lower parallel of the little pattern EUR is now trapped within. Yesterday was mostly bear closing by look of the chart. Today it's more bull buying with a small impulse candle arriving as London opened after an aimless overnight session in far East. It can rally to 1.1756 and then will probably need impetus and follow through from New York to push any higher still. Only once it can get above here should it push back up to the 1.1823 level, presnting a potential long opportunity if we see it develop later. But until we see that evidence present itself EUR is becoming vulnerable to another sell off, though this time it should only come back to the 1.1721 line to begin with and will need US selling to drive it lower still towards the 1.1679-1.1665 range. With the Dollar expected to enter an extended period of consolidation under 94.2 on DXY it's no longer appropriate to be looking for big EUR weakness in the nearterm. However, looking a little further out in time, DXY is expected to rally a further 1% or so from 94.2 to 95.15 and EUR to fall back to 1.1558 eventually before any real change in overall trend is likely on this pair. This update was posted shortly after the DXY companion forecast this morning. It never loaded correctly. Very annoying. Anyway, what was expected above is happening pretty much as it should so far - EUR is about to break higher as DXY unravels under the dynamic from the highs a while longer.
by sumastardon
4
DJIA: Dow Jones: Breakout to Upside Likely Soon DJIA Dow Jones Industrial Average Futures The Dow has had a torrid time for 3 months now, falling 14% from the highs and bouncing three times directly off the longer term parallel underpinning the rally - and which had acted as major resistance right up to the point when the new President/Paradigm took office. Over those 3 months of wild gyration and whipsaw the Dow has formed a neat triangle and is now now re-testing the the falling dynamic which forms the last big resistance line to the upside. It's had 3 attempts so far to break this line and now we're looking at a 4th. It can do this up to 4 times but on the 5th at latest should break higher. Can either follow the break when it arrives and hope the rest of the world follows it too, in which case volumes will rise and it will begin to power upwards (stops under the line) or wait for a potential retest of the dynamic once broken to the upside - which not come, depending on volumes at that point. Once broken the first resistance line lies at 24793-24800 and it may come back from there towards the dynamic one last time before surging higher again - this will most likely be the last chance to get long at lower levels if we see it a little further out in time. Otherwise, if the Dow does come off from the dynamic for a 4th and likely last time, look to buy around 23869 levels if the chance presents itself. The Global Dow chart (next update) should help to provide confirmation of the break when it comes.
OSE:DJIA1!Long
by sumastardon
2
Watch Out When Breaking $10,000Watch Out When Breaking $10,000 Since everyone expects a bull market as soon as we break the $10,000, I imagine the drop will come much sooner than expected. So I could very well imagine that the market is going to fool everyone like everytime. Therefore, you should take care very well. Again and again I read in the comments of 'Top Authors' that people will do the opposite of what they do. What is happening? It happens exactly the opposite. I do not want to talk bad to anyone, but many are very easily manipulated by the market. As a smart whale, you would do everything to be able to benefit yourself or right? That's why they do the opposite of what the crowd does and it works every time At the end, I would like to say that this idea might be wrong. You decide in the end about what you do. This should only be a warning. It may be right or wrong. The market decides what happens. Note: The red arrow only indicates the direction it could go if it's a fake out. As a result, there is no specific target, as we still do not know how far down it will go when this scenario is happening.
BITFINEX:BTCUSD
by EWHALE
16
Bitcoin BTCUSD BReaking Out Again - Next Buy PointsBitcoin BTCUSD Next But Points for Sunday We got another attempted breakout around 17:00 est which was enough to trigger a long shot as Bitcoin moved above the central parallel (it was the upper line at this point in time) at around the 8380 level on Bitstamp. It then moved up to the test the first line of resistance at 8545 and a just above before it once again failed. Not great. But stops should have been moved up to at least break even and really should have been moved up to just below 8500 here to protect the position. Now we have a another break out just underway. Buy again with stops under the parallel or can wait for a retest of the parallel it has just left - need to see some volume pick up and then once it breaks above 8170 it should attract more buyers still.
BITSTAMP:BTCUSDLong
by sumastardon
2
Cardano analysis: 30% profit target.Very strong support zone, doubt it'll crash through. Strong resistance at 5900. However this was tested several times now, so I expect it to break this time. I'm setting the target at the resistance after the 5900 resistance. Remember to set your stoplosses when you enter: markets can sometimes be irrational. If I made you money, please consider buying me a beer to make my day: LTC: LfbKuDHZaDTRUV9pXJuWCUcG14XLrGtBcs ADA: DdzFFzCqrhsfoyxqADKYK7mMAMpoMUqjuNeN39aJZx6v2ZHnBxuC79p8QJWJ713mAmRHxF9hS87YKMkD4JLF1rdxLU7ugzRtViBETfWa Feel free to ask me questions or to ask me to perform my analysis on a coin of your choice. Happy trading!
Long
by Woolhead
1
BTGUSD Full rinse out - ready to go again ahead of weekendBTGUSD Full Rinse Out Ready to go again Back in the buy zone ahead of weekend- it's been to the lows at 193 where it was an outstanding buy and may present another opportunity either from lower down again towards 193 or alternatively once 212 has been regained and holds for a few minutes. The 191 level must hold up today to avoid further significant weakness back to 151 (a good short/reversal level for longs if we see it)
BLong
by sumastardon
1
GOLD: XAUUSD Rally running out of momentumGOLD XAUUSD Bingo! Game Over The perfect high was meant to be at 1268.76 line on 21st December, a minor cycle high. The high was actually 1268.82 on the due date. Gold has a look of completion about it now and looks about ready to roll over again from here. Any rallies are likely to get knocked back from 1268.76 now but will pick up support at 1262.45-1262.30 as it moves towards the lower parallel - and once that breaks it becomes an aggressive sell again back to 1252.30-1250.72 range where it can be bought again for the bounce.
FX:XAUUSD
by sumastardon
Bitcoin: BTCUSD Breaking out againBitcoin: BTCUST : Update 1.6666 high reached Friday. The same day that the Times (London) printed their first Bitcoin story on their front page. Bitcoin reaches mums and dads. Even they know what a Bitcoin is now. The same weekend Bitcoin tops out and loses just under 4000 points. On Sunday morning as the world sleeps at 7.30 am London time Bitcoin triple bottoms at 13110. Just 27 hours later it's 3400 points higher, back probing the highs and looking increasingly ready to break higher again soon. Having broken above a rather loosely defined continuation pattern just under the highs, using he support lines now with uncanny precision as it consolidates again in high ground before pushing higher still. This could be at 20k by morning, just stay long and if not long already try to get long with stops under 16400 for small loss if wrong from here (70 points)...look for a rally to the upper parallel. If the stop is taken due to lack of thust in near term we will look to buy again on any retest of the dynamic support line across the highs today with stop 100 below. (more coming) *slung back in the slammer again - this time for 3 painful days, for uploading a pretty Bitcoin chart without actually changing the chart - because it didn't need changing - but that's another rule broken and the mediators show no mercy to the ignorant. So do you remember how messed up Steve McQueen looked when he finally got out of solitary in Papillon ? Not good. This medium has the potential to be so good but is slightly flawed for sharing up-to-second trading information if trading Bitcoin full-on. Best ideas very welcome. Bitcoin is about to create 1000's of new jobs. Every investment house with an eye to the future as opposed to the past will be starting to run Bitcoin desks once futures start trading...more and more will join until the trickle becomes a flood. Except for Morgans, who we have to accept could well have he last laugh one day. But until that arrives more and more houses will need desks and people to run them: traders. Where will these suddenly appear from? Who has any real experience of the crypto markets? You guys reading this, some of you anyway...some of you will be able to pull down some unbelievable jobs over the next few months if you want to, that is. Some funds and firms will pay massive win bonuses for discretionaries - it would be so excellent if some of you go on to do that at some point. The only really big 'reveal' that you need to keep in mind. the thing that separates you from traders in other, quieter markets, is that pattern is more important than price in cryptoland. You can argue the same applies everywhere to an extent and be right. But it happens almost all the time in this market. Many old-school traders won't be able to adapt. They will need fresh blood...you? Bitcoin is about to start creating 1000's of new jobs in the 'real' world, outside of mining itself, on top of the many that have been lucky enough to spot a trend and just ride its coat-tails to the point of it going mainstream at least...the point where we find ourselves right now.
BITSTAMP:BTCUSDLong
by sumastardon
DASHUSD Next Buy Points for break outDASHUSD DashDollar We got stopped out of the long from 305 at 599 which was cruel considering it bottomed at 596. Just bad stop management - should have lowered it to cover the lower parallel but didn't pay enough attention in truth, so busy with those other 3 favorite girlfriends to pay this enough time. Bad. And got punished for that lapse. Back on the trail: the continuation pattern is clearer now. There are two posible entry points here: 1. On a break of the upper parallel, confirmed by a push above the blue line above it at 638, looking to buy on the first minor pull-back with stops kept under the parallel. 2. But Dash is now in a vulnerable spot, trying to break above the old dynamic support line from the lows which is now acting as resistance...If this continues and Dash falls away from the old dynamic stopping it now there is a good chance it will fall back to 606-595 range again. If so look to buy here with stops below 590/adjusted to below the lower parallel, unlike the mistake made above, with a little luck. But if Dash can break above this old dynamic and then the resistance immediately above it, it would be a real show of strength. Follow it as per 1st option.
BITTREX:DASHUSD
by sumastardon