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Potential BTC Distribution ZoneThe following VAs listed in the chart (left to right): 1. VA of current calendar year 2. VA of Wyckoff Distribution Top 3. VA of potential accumulation zone 4. VA of current and potential distribution zone BTC is following a similar (granted smaller and faster) top pattern to the 2020 bull run and subsequent Wyckoff Distribution between 42K and 60K. Buyers were unable to provide a liquidity shake significantly below 30K; the demand for 30K LP was larger than expected. Market makers accumulated a decreasing supply in the bottom of 3rd VA. The POC for the 3rd VA is almost identical to the POC for the current calendar year and confidence was built for a short-term intermediate move with short liquidations providing more potential upside. I still have concern without seeing any relatively significant selling volume within the 4th VA, but would expect to see this in the upcoming days with a move down to 40-42K. I believe seller's ultimately will be unable to stay in control above 50K and the market will see impressive supply from underwater positions. In the long term, this will provide a key order block in a future more impressive buyer demanding market environment. Currently, the landscape while technically bullish does not appear to have any support from institutional buyers; with GBTC still being sold at a discount and whale wallets not clearly building position on-chain. My assumption is market makers will try to move the market price of BTC into a more value friendly zone between 18-25K. In an effort to keep myself accountable and level headed, I believe this pattern is invalidated with any break above 50K and either explosive volume with high spread or consolidation above the current (4th) value area- in the 2nd VA.
BNC:BLXShort
by WildZipper
1/12/2020 EURUSD long ideaAnother Forex Trading Snack! The EUR has been trapped inside of a multi year wedge pattern ( indicated by the blue trend lines ) but once it broke out of this pattern it’s bias in my opinion is to the long side. Also recently the DXY index has formed a wedge like shorter term pattern and the exact inverse pattern of the DXY is the gray trend lines indicated on this chart. My idea is buying the dips. My red box is my buy zone as well the bottom of the box is my extreme stop placement. Should orders get filled I would expect the top of the gray pattern line as the first target zone, but secretly wanting a breakout to happen. As always all the best in your trading. A EURUSD landscape daily chart Always remember, Forex Trading is the hardest Easy money you’ll ever make!! Plan your trade, and trade your plan with your individual risk management.
Long
by PipsTradingClub
Wash, rinse, and repeat trade! 9-25-19 EURGBP So I often see setups of past moves repeated in smaller timeframes. A lot of people might think a small timeframe trade setup needs eyeball attention thus your time applied to charts and screen time. True or not, it’s a traders choice. Besides patterns just jump out at you at times, so, trade what the market gives you... is what I say. On lower portion of this chart we see the lower setup and price action that is very similar to the upper pattern. Only differences are the size of the pattern. I still see it as a playable and still possible higher move in the pair.. after all strong momentum in between 2 levels of side ways price action says buyers in this case are still coming in as well as previous buyers are still holding on for more and not allowing price to come down much. The pink lines define a sideways price action. I placed pink line just above the upper level of each of the ranges. As well as a lower one. If your looking to place a momentum trade as prices pushes up and over the upper pink line at some point in the near future, then place a order just above the pink line. I’d also set a stop just below the lower range pink line. Placing a stop is important because false breaks do happen. That’s one way to play this... Another way is to place a order close to the smaller bottom pink line that is just below the bottom longer pink line. That line is at the 50 EMA moving average. Current price is above that price, however that EMA is often a point where price changes direction after it is challenged and then continues in the longer trends direction. Being that we are a few hours before the Asia markets open often there can be a sudden move due to low liquidity in the markets at that time of day. Should such a move happen we could capture a better long position price. Of course you’d set a stop appropriate to your own risk tolerances in either case or strategy. Number 3 way is to set orders up on both points using smaller size to accommodate again for personal preferences, style of trade, and or account size. By placing multiple orders at different points in or around a targeted area The overall orders might give you a better average price. That and no one really knows where short term tops or bottoms are and so entry prices might get filled or might leave you on the sidelines as a spectator to a move you found to be a high probability—-that also then became reality! Targets should as always should be at least 2 X your stop size. If you decide to trade this idea or any idea the risk of loss is always yours. Because there is no sure thing in trading and trading is very risky, plan your trades and only then trade your plan. In trading you either make dust or you eat dust. All the best in your trades.
Long
by PipsTradingClub