NWC/USDT - When Technicals and Fundamentals AlignHi everyone,
The Trading-Guru is back with an analysis on NWC. In this analysis I mix things up a little bit and cover NWC/USDT both from a technical and a fundamental point of view.
There are two important horizontal levels on the chart. The horizontal resistance zone marked by the ATH at around 28.5 cents and the horizontal support zone of around 18.5 cents.
As this coin has a relatively low marketcap there is high volatility and even a "scalp" trade between support and resistance can already yield 30%+ as shown by this trade set-up.
Now, normally I would've suggested to wait for the price to drop to the support zone and buy there. However, besides technicals there are other factors at play here that influence the price.
Especially on lower marketcap coins it is important to keep an eye on more fundamental things cause they have a high probability of influencing the price. Today you can see that NWC has had an audit by Vera Chain which went successfully. As a result the price went up already before the support zone was hit.
Now after a few hours I think we can safely say that the reversal has been confirmed and I suggest to enter a long position here on NWC.
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Pairs
How To Trade LINK - Retracement with Moon PotentialLink has been performing extremely, extremely well over the last weeks. With an astonishing 1400% growth over the last few months it's been the hero we all wish we could be.
In this technical analysis I will walk you through how I suggest to trade a pair that has been seen such a crazy uptrend.
First of all, it's noteworthy that you should never buy a coin that's already peeking. When there's just been a huge green candle, you are too late. You wish you were in, but don't FOMO buy.
Always wait for retracements. Retracements such as ... the one right here in front of you! THIS is the moment to buy, after plenty of red candles.
The age old principle stands, buy low and sell high.
As for the exit, if you're more of a scalp trader I suggest to leave before the $20 level again as this is a likely place where it finds resistance.
If you want to HODL LINK, then you can try to aim for the 'Moon Zone'. In this area the price might rise like there is no tomorrow, and simply holding it might bring great benefits.
Bearish BTC Finds Itself in a Parallel Descending ChannelHi everyone, I'm back with another analysis on BTC/USD. After looking at the wedge earlier on, we will now look at a more conservative downtrend from the parallel channel.
The wedge from my previous idea got invalidated quickly. BTC isn't moving as fast downwards anymore as it did before. It seems the downward momentum has slowed a bit. However, we can still spot a parallel descending channel with a downwards direction. I will attempt one more trade set-up that is focused on this more bearish scenario.
There are two ways to trade this. You can either trade the price downwards with a short from $11,600, or trade the price upwards with an entry around the $11,250 area after a bounce on the bottom support area.
Take special note of the confluence between horizontal support and the support line of the channel. This is a strong indication of a powerful support.
For now, the TA shows that BTC will move downwards still for a while. A big move or some newly found momentum can change things again. Since it's the weekend, a short is relatively safe. But be careful when holding it overnight into the new week.
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- Trading Guru
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Disclaimer!
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XRP/USD Heavy Trading Volume Blocks The Way To MOON AREAIn this idea I will go into XRP/USD and use technical analysis to highlight the most important aspects of XRP right now. Both through the volume profile and heavy trading zone we can see some interesting behavior.
Let's start with the horizontal support zone at the bottom. This area got confirmed multiple times, showing it's strength. After the latest confirmation, a long trade seems like the only wise idea. I don't expect the price to fall below this zone for a while.
Then, let's look at the volume profile and the heavy trading zone. There's two things that stand out. First of all the ~30 cents level is incredibly important to XRP. Possibly showing signs of psychological support and resistance. Second of all, trading in this area will generate a lot of trading volume and might slow down price movements and thus volatility. However, if the price ever breaks through such area, we might expect some mooning potential as the price is free to continue after leaving the bears behind in that zone.
We've seen this happening before already at the area I marked with a break-out. The price grew by 8% within just a few hours!
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- Trading Guru
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USDCHF review - testing 5th times nowHello Traders and All TradingView users
My view is possible increase from this level to 161.8 fibo ratio
One of the my favourite tool is FIbonacci Retracement ...
And i hope USDCHF and other USD pairs will start rise up soon
Thanks for reading and watching and following MONFX
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Regards MONFX
Text-Book BEAR Flag on EOS/USD Tell-Tale for SHORT PositionIn this idea I will explain what a bear flag is and how this information can help us position ourselves for a nice short trade on EOS.
A Bear Flag is a bearish continuation pattern. It is formed when after a strong drop, an ascending channel is formed where the price bounces back and forth.
The bullish version creates a view that looks similar to a flag and a flagpole, from which the name is derived.
If at some point the channel is broken downwards, a second downward movement can be expected.
EOS is trading in exactly such pattern after yesterday the whole market had a big dump downwards.
I suggest a short trade set-up here on EOS where the take profit is close to the 2.40 level
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- Trading Guru
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BTC/USD Approaching Pivotal Decision MomentIn this idea I will explain the recent price action of BTC and show you how to prepare for its next move.
Currently we are witnessing a bearish retest on the S/R flip. Support and Resistance levels can usually be re-used after the price broke through. A level that used to be support, and turn into a level that can be resistance. More so than historical price action, these levels show that trades care about its existence.
Right now, BTC is hovering around this point again of breaking through such a support or resistance. This is a pivotal moment where a break out in any direction be utilized. If we see it breaks out north and the price goes up. We can expect prices as high as $10,000. However, if it breaks down south, price of $9,300 are more realistic.
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XRP/USD Retracement To S/R Flip Gives Great Scalp OpportunityWe get the opportunity here to short trade XRP/USD and monetize the situation that it will retrace first, before getting ready to break through the resistance.
I know that this isn't a 350%+ trade, so the moonbois will be disappointed in me when they read this. I made this idea for the true traders, who know that a few % per day will get them the financial stability they want based off trading. It's the trades like these where the real money can be earned.
All further information for the trade can be found on the chart.
XRP Continues To Deliver Profits [Second Iteration]XRP is clearly bullish over the last week. The uptrend is likely to continue as all cryptocoins are rising and rising.
However, the difficult part is always to determine a great entry position as in this case of a short you wouldn't want to buy too low.
I will continue this idea, after an incredibly successful trade last time:
We can keep using the parallel channel to get a few more good trades in. After the confirmation on this resistance, we can now switch to a short position.
The simple "buy low, sell high" concept is deceivingly difficult. For a short, obviously we have to turn this around.
In this trade set-up I show that in an upwards trending parallel channel, a retracement to the support line can be a great place to buy.
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- Trading Guru
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Short Scalp for ETH/USDDay traders pay attention! This is a really nice scalp opportunity. People who only care about fundamental analysis shouldn't read this. Purely based on TA we can find a nice opportunity here for a short position.
The price has closed in on the important $240 level, where we have seen historical strong resistance. Important to notice is that this is not just a price based resistance level, but also a psychological resistance level.
We already get a small confirmation of a retracement, so this is a great moment to enter such a scalp. Leave some room for error by placing the stop loss slightly above $240. For the take profit I chose a price slightly above the important $225 level. By putting it a bit higher we maximize the chances of our limit order to get hit.
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- Trading Guru
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Disclaimer!
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Bullish Scenario for BTC: What will happen after the resistance?Hi everyone, for this trade on BTC/USD we will look at this parallel ascending channel.
BTC/USD has been moving beautifully along this channel with a very bullish momentum. The bears have been left behind at around $8,800.
The momentum has been very consistent and upwards, creating much FOMO beyond doubt.
The price is at a small resistance now, and if it breaks through we can see a move as high as $10,000.
There are two scenarios here, either the price gets rejected at this resistance, and BTC will show some weakness again for the first time in a week. Or the price will break through the resistance and we'll see a nice volatility spike. I charted for you the scenario where it breaks through the resistance.
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Disclaimer!
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AUD/USD with Ascending Triangle [QUICK UPDATES]Hey all, here’s another entry on my tradingview series called 'Quick Updates'.
On AUD/USD here we can see a nice ascending triangle. This is a bullish pattern, where we expect the price to break through the upper resistance line eventually. Every time the price has hit this area the price has bounced back, but each time slightly less. This means two things: 1) with each subsequent attempt to break through the resistance, the resistance becomes weaker, and 2) the bears are becoming weaker as their momentum is decreasing after each bounce.
I expect that at some point the price will break through the triangle and we see a very bullish break-out. We can monetize such a scenario with a simple long trade. All the numbers for the trade are in the chart.
--- What is The Quick Update Series All About? ---
I have started a 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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- Trading Guru
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
Maximize Your RR By Buying High In The Bearish Gold MarketIn this idea I will explain how to trade gold, now that we have information directly after the market has opened.
Now that the gold market is open again, we can immediately see the bearish trend of the gold price. The price went down about 1% and reached $1720 within only a few hours.
This is an indication to me that the recent uptrend of gold will be over for a while, and that we're looking for a small consolidation.
I charted a scenario here that can monetize this behavior, by using the newly found horizontal resistance area.
If we look at the previous gold idea here with the symmetrical triangle
We can see that the price moved according to the bearish scenario, but didn't go down all the way to the support zone. I suggested to cancel that trade as the technicals are no longer valid, and now suggest to move to the current set-up where with a bearish signal, you should try to get a buy in as high as possible, to maximize your risk reward.
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- Trading Guru
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!