Tradingview is Going Absolutely BananasWow. What a day. We will still look back on the 20th of April 2020 in many years from now. And such a pragmatic day too btw to pick for such a memorable event. Really easy to remember.
Oil didn't just go to zero. It actually went negative.
So... Come and pick up those barrels. Please take them from me. I'll give you $30 each, but just please! Help me get rid of these!
Storage is not that cheap, and sh*t hit the fan today. But this is not something that was predicted.
Tradingview couldn't handle it. Obviously, their data engineers didn't see this coming either. Nobody did. If you would and you shorted this baby, you're on the Bahamas right now. The price is simply stuck at 1 cent here on this chart, but it did in fact go to below -$30/-$40 a barrel.
Finally, for my TA: I'm giving a long position here with infinite returns. Enjoy.
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PAIR
KNC Trade Set-up With Support and ResistanceHey all, here’s another entry on my tradingview series called 'Quick Updates'.
On KNC We are greeted with a nice scalp opportunity here. The price is falling back to the support area again after oscillating nicely between this horizontal support and resistance area.
--- What is The Quick Update Series All About? ---
I have started a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will contain a brief explanation with clear and clean charts in order to keep the velocity up and make sure you get to see the opportunities as fast as possible.
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The Bands, They Are A Squeezin' What a tight squeeze here on the bollinger bands. The prices haven't moved at all in almost two days.
This isn't just for BTC USDT, but for the entire market! For comparison I added some major market caps here as well. And you can see they have also been completely on halt.
However, we can see a small spike of volatility here on the most recent candle. I expect that the price will break out with a bullish flag of these bollinger bands.
Edit: I made it into a smaller description this time to focus on the speed of delivering this idea. You need to act on this very timely, as this volatility can spike really suddenly.
- Trading Guru
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BAT Is In a Downwards Channel, But Might Soon PumpBat is going down again here in this channel after seeing a significant upwards spike of 100%+.
Surprisingly, the coin didn't suffer much during the Corona crisis. However, you could argue it's already priced in as we're looking at the BTC pair here and not the USD pair.
I expect the price will continue to go downwards for a while until we reach a very important point: the confluence of the channel and the support zone.
I think this area could be a great buy opportunity as we've seen BAT does have the potential to spike when it's making lower lows. I will put it as a short for now with the expectation it will follow this channel, but I am bullish long term.
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ETHBTC Effective Short Trade Based on Inverted H&S and S&RHere on ETH/BTC we can see that the inverted head and shoulders pattern already played out after the sudden bullish gains starting yesterday evening. Combining the fact that the sudden boost reached a hard point of resistance (S/R flip) I suggest a short position here for a trade set-up.
It is not common that the price keeps going upwards after such a strong unsustainable boost in the price. I expect a small correction first, where the bulls take time to collect some money for their second attempt of burning through that resistance. We can monetize this scenario by using a short set-up.
Longterm I am still bullish on ETH, so make sure you set a tight stop-loss. Short term, let's use this fantastic scalp opportunity.
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BTC Needs to Choose Direction SoonAfter days of no volatility, the BTC price finally showed some movement last night. The initial move was bearish but got rejected immediately by the bulls. It is too soon to tell the direction BTC wants to move to.
We could possible see some signals in the current stock market, as the unrealistic gains over the last weeks seem to have cautiously come to an end. Is this the top of a synthetic high?
If it is, the world economy could drag BTC down again. I am definitely not bullish for the coming few weeks because of the fundamental principles of a f'ed up economy together with way too high prices. However, on the shorter term we might see possibilities for some bullish scalps.
Furthermore, with the RSI that has been reset to exactly 50, we see there is no clear momentum at the moment and the price could truly go either way.
In this symmetrical triangle we can go exactly two ways, so I believe it's best to wait for BTC to show direction before we decide on either a bullish or bearish strategy.
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BANDBTC With a 30% Opportunity On The 60m! [QUICK UPDATES]Hey all, here’s another entry on my tradingview series called 'Quick Updates'.
The price of the extremely volatile BAND coin is currently moving between the areas of resistance (0.0000600) and support (0.0000415). Since we've seen the price bouncing off this support zone multiple times before, and we also observe a confirmatory bounce on the current hit of the resistance zone, this seems like a good entry for a bullish scenario.
Since the price is so volatile at the moment, fantastic gains are to be made here. But also big losses, you know how it goes. Be careful out there peeps!
Some quick words about BAND:
Band Protocol is a data governance framework for Web3.0 applications operating as an open-source standard for the decentralized management of data. They aim to band communities together with open and reliable data source through decentralized curation protocol.
--- What is The Quick Update Series All About? ---
I have started a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will contain a brief explanation with clear and clean charts in order to keep the velocity up and make sure you get to see the opportunities as fast as possible.
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About the links below:
20% Discount on Binance: Did you know that Binance introduced a new system where you can get 20% discount on your fees? Find the step-by-step guide on how to add it to your account on the website of 100eyes
Forex & Crypto Scanner: Nobody can keep track of all the pairs on all timeframes. This scanner works on Telegram and sends an automated message including a chart every time something happens to a coin. E.g. it can automatically detect areas of support and resistance, RSI Divergences, Fib Retracements, and more.
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GBPCHF Hitting a Crucial ResistanceGBPCHF Hitting this extremely important resistance here going back one year all the way until July 2019.
This will be a pivotal for GBPCHF. It needs to show now if the bulls have enough strength to continue the recent uptrend that started after hitting extreme lows. We will find out by monitoring this level. If they can break through, we can expect a very bullish continuation. If they can't chances are that the bears will take over again and we will see a second downturn on GBPCHF.
I placed the suggestion for entering the trade a little bit above the current resistance to create confirmation of a breakout. The take profit is placed directly below an area of many trades as seen by the volume profile.
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A First Look on SOL - Descending TriangleBinance has listed the SOL token! Solana is a high-throughput blockchain that is currently supporting 50–65k transactions per second and 400ms block times, without complex solutions like sharding or layer-two. As the world's first web-scale blockchain, Solana will unlock a whole new class of performant applications and facilitate larger scale blockchain adoption. Utilizing a revolutionary innovation called Proof of History, Solana is drastically able to outperform any other existing layer 1 and provide fees at $0.00001 per transaction.
From a technical point of view we can see that the price immediately had a massive spike of 550% since its listing on Binance. Afterwards, we see the price has found some support and with several decreasing pumps after reaching this support area we can draw a nice descending triangle. This is usually a bearish sign, that the support is getting weaker.
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A First Look at the Newest Addition to Binance: SOLSOLBTC Just got listed on Binance.
Sola is the next generation decentralized social platform that incentivizes and benefits all involved parties — users, third-party developers and the core team. The name Sola is an acronym for “social layer.” Sola is an open ecosystem, which means that most of its source code will be made open source and available for audit, improvement and usage by anyone.
It is a cryptocurrency token and operates on the Ethereum platform. Sola Token has a current supply of 127,864,775 with 28,948,936.515 in circulation.
We immediately got greeted by a 420% increase in its first hour. Extreme volatility is common for new listings. After the spike up we are seeing a small descending triangle forming. A first bearish sign for this pumped coin.
Let's see what SOL has in store for us in the coming weeks!
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ATOMUSDT With an RSI Bullish DivergenceHey all, here’s another entry on my tradingview series called 'Quick Updates'.
We find an RSI Bullish Divergence here on ATOM. This happens when the price makes a lower low, while the RSI makes a higher low. This indicates an unsustainable decrease in price, where the momentum is slowly resetting. This is a bullish signal and that's why I close this idea with the LONG suggestion.
--- What is The Quick Update Series All About? ---
I have started a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will contain a brief explanation with clear and clean charts in order to keep the velocity up and make sure you get to see the opportunities as fast as possible.
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EURGBP Started Its Downtrend After Breaking Out of This TriangleMake sure you enter this trade before the market closes. You only have 1 hour left!
The price has bounced three times off the horizontal support of the descending triangle. Each bounce was slightly less strong, which denotes the characteristic of the triangle.
The bounces were respectively ~4%, ~3%, and ~1.5%. Now that the triangle broke, we can see that bears are winning from the bulls.
I expect EURGBP to start a downtrend where bears will keep pushing the price down. The most logical first test will be around this support area.
To profit from this trend, we can place a short trade, with a stop loss slightly above the support of the descending triangle (S/R flip).
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CAD CHF Is Playing Out Exactly How We ExpectedThis is part 2 in an ongoing analysis on CAD CHF. This support and resistance set up has played out very nicely so far. I decided to keep the line on my chart from the previous analysis so you understand the progression and the narrative.
CADCHF Has finally shown us a temporary low in this massive bearish trend. This is not an easy moment to trade, there can be unexpected volatility, and there is not much historical price action to base your TA on. I am going to keep it simple for now and just share this scenario based on a support and resistance.
A first small rejection of the resistance has already happened, we are now seeing a continuation of a temporary uptrend. Eventually I do expect the price to attempt the resistance again and break through the resistance. Then, after a S/R flip the price can bounce off a newly found support and make a short uptrend.
Overall I believe the price will need to cool down a bit from its massive downtrend and will recover temporarily. This is where you can try to monetize this pair.
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GBPJPY Needs To Make a Decision Soon [Rising Wedge]There are multiple very interesting things going on here from a technical analysis perspective.
First of all, we find GBPJPY in a rising wedge. The support lines are getting closer together, and the price is perfectly staying within the lines. Soon, GBPJPY will break out of those lines which can cause a big disruption to the price. Many people are watching these patterns right now. Overall, this is a bearish pattern and the price is about the break out of the bottom support line. This is a very negative sign for the price.
Secondly, GBPJPY is near a horizontal area of resistance. The price has respected this area already before, and shown that it was very difficult to break through this area. It even acted as a support zone earlier on due to an S/R flip. This zone of resistance is another bearish signal that shows that it will be difficult for the price to get higher.
Lastly, we find confluence. Because these two signals show us the same direction, the signal is becoming stronger. That's the reason why I suggest a short trade here with a stop loss tightly above the zone of resistance. In case we invalidate this idea, we should leave the trade as soon as possible.
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Two Scenarios You Can't Miss On AUDCHF For Maximum ReturnsWhat is important to realize here is that we first need to wait before entering this trade. The price is closing in on the resistance level, and we can simply wait and observe the behavior before entering the trade. Let's go through the two scenarios.
1) The Bullish Scenario.
If the price breaks through the horizontal resistance we can expect a continuation of this parallel upwards channel. I placed the price ranges for your entry, take profit and stop loss on the chart.
2) Bearish Scenario.
If we see a rejection of the price when it hits the resistance area, we can expect a downwards trend again. I placed the price ranges for your entry, take profit and stop loss on the chart.
After the price has hit the horizontal resistance level, wait until you see either the bullish or the bearish scenario confirmed. Then, it's safe to enter the trade!
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If you want to learn more about how to place your limit orders including entry, stop-loss and take-profit, check out:
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EUR/JPY Scalp Opportunity [Quick Updates]Hey all, here’s another entry on my tradingview series called 'Quick Updates'.
We can see a nice opportunity here for a quick scalp after EUR JPY has hit the horizontal support zone for the fifth time. The price has confirmed a rejection and looks to be in a temporary uptrend now. I suggest to put the take profit directly under the support/resistance flip area.
--- What is The Quick Update Series All About? ---
I have started a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will contain a brief explanation with clear and clean charts in order to keep the velocity up and make sure you get to see the opportunities as fast as possible.
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Bearish Signal Based Off Descending Triangle for BAT BTCHi all,
The Trading Guru is back here with a bearish scenario on BAT. After the big pump 4 days ago, we have seen several attempts of bringing the price down. Each attempt resulted in a bounce off around the 0.00002180 zone. However, every subsequent bounce has been slightly weaker. This is a very bearish signal, and is called a descending triangle.
I expect the price to break through the support soon, as we can see the bears are clearly winning from the bulls at this point. Only once the price goes back to normal ranges as defined by the horizontal support, it will become more unpredictable about what will happen with the price. At this point we should leave the trade.
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About the links below:
20% Discount on Binance: Did you know that Binance introduced a new system where you can get 20% discount on your fees? Find the step-by-step guide on how to add it to your account on the website of 100eyes
Forex & Crypto Scanner: Nobody can keep track of all the pairs on all timeframes. This scanner works on Telegram and sends an automated message including a chart every time something happens to a coin. E.g. it can automatically detect areas of support and resistance, RSI Divergences, Fib Retracements, and more.
GBPCHF RSI Bearish Divergence! [QUICKUPDATES]Hey all, the Trading Guru is back with another entry on a new series called 'Quick Updates'.
We just got a very strong rejection on GBPCHF after the price made an RSI Bearish Divergence. This means that a temporary top might have been printed, and a new bearish downtrend can start.
--- What is The Quick Update Series All About? ---
I am starting a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will not contain just a short explanation, in order to keep the velocity up and make sure you get to see the opportunities as fast as possible.
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ENJUSDT - Strong Hidden Bullish RSI Divergence [QUICK UPDATES]Hey all, the Trading Guru is back with another entry on a new series called 'Quick Updates'.
We can see the price making a higher low, whereas at the same time the RSI is making a lower low. This is a bullish continuation pattern where the divergence indicates the end of a temporary retracement in an overall uptrend. This could be a great moment to buy ENJ and enter a coin that just started a strong uptrend.
--- What is The Quick Update Series All About? ---
I am starting a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will not contain just a short explanation, in order to keep the velocity up and make sure you get to see the opportunities as fast as possible.
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About the links below:
20% Discount on Binance: Did you know that Binance introduced a new system where you can get 20% discount on your fees? Find the step-by-step guide on how to add it to your account on the website of 100eyes
Forex & Crypto Scanner: Nobody can keep track of all the pairs on all timeframes. This scanner works on Telegram and sends an automated message including a chart every time something happens to a coin. E.g. it can automatically detect areas of support and resistance , RSI Divergences, Fib Retracements, and more.
Bullish Gold Broke Through First ResistanceIn these uncertain times, it always feels good buying gold. Now that global markets have been in such a positive rally, gold has risen in price as well.
For this trade, I propose a simple set up. We will try to monetize the bullish scenario, where we assume the trend will keep pushing the price up, perhaps with a small retracement inbetween towards a newly found support zone. We place the stop loss directly below the support zone, and the take profit directly below the second level resistance zone.
I normally trade more on trend reversals, but noticed that in forex trading along with the trend tends to work slightly better. In cryptocurrency trading however, the reversals seem to be more effective so far.
I will use a similar idea to my other trade for EURUSD
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EURUSD Follow The Trend!I am using a new approach here. I noticed that many of my support and resistance reversals don't work out on forex recently. On Cryptocurrencies they perform extremely well.
For this trade, I'm using Heikin Ashi candles to help with identifying the trend. Also, I will assume the uptrend will last for at least as long as the first zone of resistance, instead of waiting the resistance zone and betting for a reversal. I charted this a few hours ago, but forgot to place the idea on TradingView. The price has risen already a bit, but I decided to keep the areas how I initially charted so I can get better feedback on the performance of this trade.
I'm curious to hear any feedback from you traders out there. Any tips & tricks on support and resistance reversals vs trading with the trend?
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Beautiful LONG Opportunity Based on Support [QUICK UPDATES]Hey all, the Trading Guru is back with another entry on a new series called 'Quick Updates'.
Just found this support zone for ZEC that already got confirmed with a small bullish candle on the 5m, leading to a nice scalp opportunity. See the chart for information on stop loss, take profit, and entry positions.
--- What is The Quick Update Series All About? ---
I am starting a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will not contain just a short explanation, in order to keep the velocity up and make sure you get to see the opportunities as fast as possible.
Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.
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Disclaimer!
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About the links below:
20% Discount on Binance: Did you know that Binance introduced a new system where you can get 20% discount on your fees? Find the step-by-step guide on how to add it to your account on the website of 100eyes
Forex & Crypto Scanner: Nobody can keep track of all the pairs on all timeframes. This scanner works on Telegram and sends an automated message including a chart every time something happens to a coin. E.g. it can automatically detect areas of support and resistance, RSI Divergences, Fib Retracements, and more.
ETCBTC Just Got Its Horizontal Support Zone Confirmed [BULLISH]I was looking at this support zone for a while now. After a 6% price gain in about 24h, the price kept dropping and dropping rapidly. Finally it found support which made the bears temporarily leave.
I see two important resistance zones directly above it, to which I expect the price to increase. Now that the hit of the support zone seems like a possible reversal moment, I expect the price to reach above the resistance level 1 with a bit of struggle. Then, with an S/R flip I expect resistance level 1 to act as support to go to resistance level 2.
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Disclaimer!
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About the links below:
20% Discount on Binance: Did you know that Binance introduced a new system where you can get 20% discount on your fees? Find the step-by-step guide on how to add it to your account on the website of 100eyes
Forex & Crypto Scanner: Nobody can keep track of all the pairs on all timeframes. This scanner works on Telegram and sends an automated message including a chart every time something happens to a coin. E.g. it can automatically detect areas of support and resistance, RSI Divergences, Fib Retracements, and more.
Also, check my recent popular ideas on BTC: