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BTGUSD Next Buy PointsBTGUSD Next Buy Points Well it got to 304, not as quickly as anticipated, taking a whole 20 hours or so to reach the upper parallel/target for a 34 point win in a tricky market, 2 points hy of the target, but the hit on the parallel was so good I'm claiming this one as a victory, imperfectly perfect, is all. So the next buy point here is around current values down to 287 with stops at 284, next below here will be 272 again if we see it. And the place to a to these will be on a break above the parallel...this will free BTG up to fly much higher if we see it and must be followed (usual drill on a breakout). If it can manage we have a realy good weekend in store here.
BLong
by sumastardon
1
BCHUSD Buy points on weakness coming upBCHUSD This looked crocked yesterday. What happened? Don't need a weatherman to know which way the wind blows. A chart will do that for us. Should come back to 1180, maybe spike to 1124. This is what we've really been waiting for isn't it (you were not long, were you anyway) So sling an order in at 1180 and leave the stop below 1124 or put one in at 1126 with stop below 1124 by at least 10 points. Maybe it will come all the way to you, and no further. It needs a full flush. Maybe we'll get one.
B
by sumastardon
BCHUSD: Wait for this to come back to youBCHUSD Wait for this to come to you It's been a struggle today just keep around break-even here. At least the 1570 high and danger point was identified but we should have shorted there with stops above - kind of obvious now of course. The technical picture here has deteriorated today. It's broken below the parallel and this line is now acting as resistance to rally attempts. It's now likely to move sideways in the range bound at the top by 1539 line and at the bottom by 1476 spike low and 1456 blue line. It's full of whipsaw, traps, delays and broken hearts. It will encounter problems at 1539 and if it can manage to beat here at 1570 again.It's strictly for day traders playing inside the lines with two overhead dynamics bearing down from above. It has to clear all this now before it looks safe for swing traders to go long again - that space between 1572 and 1735 is the space to trade, if and when we see 1572 broken. Otherwise it's a buy on retests of 1477-1456 range with stops under 1450. Any fall below 1450 would be a very bearish outcome for BCH, triggering a short back to 1255 at least and more likely to 1182 before rallying again strongly. Pin bars are often created by wise old traders on fishing expeditions, laying buy orders at extremes days and even weeks in advance. You never know if they are going to get hit, just check the trap once day and maybe one day the big sell off (or rally) arrives and you get filled. This pattern is not positive whilst under 1570. It's carrying a lot of dreams trapped in at higher prices now. We're lucky not to be amongst them having banked profits at the weekend when they were still there to be taken. Hope above 1570, despair below. Put two orders in to buy at 1575 and another at 1185, both with stops 10 points below. One will get struck. Eventually. In nearer term it looks OK to buy dips to 1476 but 1514 is already beginning to become resistance by the look of it so the range to trade is getting smaller, but with a downward bias still. More hearts must be broken before a good rally can begin again here. Keep powder dry. Set traps. Wait. Let this come to you. And at one extreme or the other, it will do eventually.
B
by sumastardon
3
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
ETHUSD Grinding Lower - next buy pointsETHUSD Update Grinding lower again after day traders ahve bought the last spike lower for the rally back to the upper parallel and then sold off the line like good day traders are prone to do - and so we see the price action we do here today. Swing traders are left with the same options: Buy that break above the upper parallel, it should be a good one when it comes (you know the drill by now). Other than that we have buy orders left at 446-444 range with stops below 442 if struck. A waiting game. Do not be tired by waiting.
BITTREX:ETHUSD
by sumastardon
BCHUSD Next Buy PointsBCHUSD Next Buy Points Looks to be consolidating once more above old structure to left on chart, moving inside a rectangular flag formation. Closer up, it's moving down a pair of parallels and dancing along between the two blue lines of fixed support, with pin bars of interest at 1600 showing...it would be helpful (to buyers at least) if it these supports gave way and it broke lower to 1539-1516 range again, where it's a buy with stops under the big green lower parallel. It is very unlikley that BCH will drop below that line in the days ahead. It is also a more speculative buy right here, simply because the stop is so close it's worth the risk, which is 50/50...buy at 1600, stop at 1589. And finally it's a buy/increase when the upper parallel of the small flag is broken to the upside, needing a pulse of buying power there and green candles emerging, looking to buy on first pull-back with stops under the parallel - maybe 1640, depending on when the break occurs.
B
by sumastardon
2
DASHUSD New Buy Points with caution and stopsDASHUSD Consolidating recent gains in a pennant: not as trustworthy as a flag, though. The recent low was 609, exactly double the price we paid at 305 some 15 days or so ago. Are you watching, Bitcoin? Two strikes on the lower line shows 'hot', still. Now it has to find enough buyers to beat the upper line of the pennant... If it can mange this we can follow/add but because it's a pennant am wondering how good the break will be if we see it now. Folow the break but stick a stop under 624 in case it fails...want to see a couple of big green candles emerge on exit, therwise beware the break..(look at ETHUSD failed break last time to study a failure...if you can learn to spot thse in real time your whole outlook and trading record will improve...not easy sometimes, buy others, it is!) Be lucky. And alert.
BITTREX:DASHUSDLong
by sumastardon
Bitcoin: BTCUSD Next Buy PointsBitcoin: BTCUSD Poor Bitcoin call late last night: a nasty little fake-out at 8144 buy point saw Bitcoin flip under the stop at 8140 for a small loss, but could also have triggered a short at that point with a stop above 8144 - also flipped - so two small losses, and more painful still, the idea was OK - it did what it was meant to do and rally, but we got stopped out. So annoyong and one of the problems trading Bitcoin when you can't be there to watch over its every move 24/7. Sorry for that. Anyway, back on the horse... In the last 12 hours Bitcoin has regained its equilibrium, dusted itself down and made another break for the border line highs at 8340-8350. And this time it's escaped, breaking free and now building up a head of steam ahead of what looks like another burst higher. It's unwinding a little now but using the old highs as support - whilst it holds at the old highs at 8350-8340 it's strong. It's a buy here with stops tight under 8330 as if this fails it will come back to the next blue line at 8280. Right now this is good for day traders trading between the lines but needs to do some more unwinding... We can look to buy off 8344 and 8280 and day traders can follow a break aove 8410 on next minor pull-back using a stop under 8370 in case of failure.
BITSTAMP:BTCUSD
by sumastardon
3
Cac 40: Long-Pull long tradeCac 40 Long-Pull Long This index continues to make positive technical moves: the little continuation pattern that brings the index perfectly back to the long term dynamic that had acted as resistance for 10 long years since 2007 highs - it comes back for one last kiss - right on a line 10 years old - it turns it into support and fires northwards - classic stuff, even in a big index. And then for its next bull move it rallies from the long term dynamic to make a new post crash high and then comes back down to use the previous major high in 2015 as support - again resistance has been turned into support. Every big move it makes is positve. Now it should move up to 5850, consolidate a little and then rally to 6152. Support is firm at 5261. This index has 890 points upside and 120 maximum downside. If you leave the stop under 5255 on this trade there is a very low likelihood of it being hit.
TVC:CAC40Long
by sumastardon
GE: Next buy points for counter-rallyGE Next Buy Points We never got a chance for a long down by the lows, but we did get the next one: the break above the small parallels channelling the tiny corrective move yesterday and Monday. It was a really good, painless/stress-free break too. So now, after GE filled a small gap (left on chart) it's coming back to support at 18.07 (tweaked by a couple of pips) and should hold up there and bounce again (low risk entry point with stops below 18.00 . If so, The next challenge should be at 18.46 (take profits) - we know that each of the last three pathetic rally attempts have all been 100 pips...which is exactly where 18.46 lies...then we only go long again once we can see 18.50 has been broken on upside, looking for 19.36 where look to close (just under here) and some may then wish to short with stops above. More as this develops. Better than Bitcoin today too! Old V new. Today the old won. There are some good trades here, between the lines - and so much less stressful than Bitcoin. For a quiet, steady calm trade GE wins hands down, no contest. Depends on your profile.
NYSE:GELong
by sumastardon
1
Bitcoin: BTCUSD Update and Buy Points Bitcoin: BTCUSD Wednesday Update and Buy Points Is there an X man who doesn't need to sleep? That's what we need to be to keep on top of Bitcoin. Still feisty, still full of fight, just when it looks like it might be settling down a little it snaps back again. Tried shorting from 8060, looking for 7800 before reversing back long again - just before spotting the acute parallels that Bitcoin was now trapped beteeen. Too late! Parallels mean continuation, even if as steep as these. The last update from midnight GMT mentioned this point and that breaking back above the upper parallel would mean that Bitcoin was turning bullish again, and then had to grab some sleep. If you were brave enough to then go long again on the break and retest of the upper parallel, well done, especially if you kept your nerve during the ensuing 3 hours of trade as Bitcoin came back to a spike low at 8050 before rallying. That was a tough 3 hours for day traders looking at price action in the aftermath. Notice how the parallels that contained the move down saw just 2 strikes on the lower parallel? It's been mentioned before but bears repeating: two strikes on a lower parallel is a sign of real impending strength to come...but it was too late in UK by then to stay with it. Sorry for that. Swing traders and long-pull holders with stops left low under 7700 as advised are unscathed. Hoping we can raise stops here soon, but need to leave them quite low for now and keep them out of harm's way. So now the next challenge is find the next entry point for day traders not already long again on the break above the upper parallel - it was so tricky at that point there's no point in beating ourselves up about missing it...fixed support lines proved to be useless for the second time too - the last low also - we just need to understand the last move for what it was and move on to the next trade... Right now Bitcoin has regained the high line at 8245 and is using it as support, creating a small flag. Need to watch and wait awhile and see what shape Bitcoin makes next. Overall it's still very positive and once this battle for consolidation at the highs has been won bitcoin is likley to surge much higher still. So am not looking to try shorting from here though it looks quite tempting. Prefer to look for an entry to get long again. We may get a chance from lower down later if 8220 gives way to sellers, otherwise on exit above the upper parallel of this tiny flag from today's highs with stop under 8210. More as the move develops.
BITSTAMP:BTCUSDLong
by sumastardon
4
Bitcoin: BTCUST Next Buy PointBitcoin Update BTCUSD So Bitcoin could be double topping - if it is it only gets confirmed by a fall below 7347 support line, with first clue a break below the dynamic support (not relying too much on the parallel yet until we can see how it responds when touched, if ever. The other way out from here is to break above the little parallel above it and make a blast for 7570...and that looks more likely. If stopped out earlier or missed the updates, this is next chance on buy side, other than looking to buy retests of the blue line at 7426 Please see comment on left for more about breaking 7570.
BITSTAMP:BTCUSDLong
by sumastardon
1
Bitcoin: BTCUSD Next Buy PointsBITCOIN: BTCUSD Next Buy Points First off, that pin bar from the high today is threatening, now followed by red bull-engulfing candles, so am relieved we closed out just on the high of the day, so far at least...we were lucky. So now we're looking to buy again from lower down... First support is 7350-7340, and then 7300-7270. But now, as this is written a pin bar is forming from 7370, showing buying interst at this level. So we can look to accumulate again here, at 7400 and just under, down to 7310 if it comes to meet the dynamic.. There is potential for Bitcoin to touch the dynamic support line running from the recent lows on chart, but it's loosely defined/imperfect so we can't attach as much import or potential power to this line as we can with a perfect trend line. Right now Bitcoin is running within a pair of small parallels again, another continuation channel prior to rising further. Ideally, it will come off again from here at 7474 and come back down to 7350 and leave a pin bar at 7315 right off the dynamic - that zone is the perfect entry area with stops 50 below the parallel for now. Alternatively, if we don't get a chance to buy lower, as above, the next buy point is as Bitcoin breaks above the the little parallel containing it now...but doesn't look quite ready yet. Longs need to be careful at 7570 -7580...it could smash straight through, as it did at 6950 critical level - and it could also fail - am wary therefore. We want to see 7570 busted on the first attempt, without a struggle and then see it become support on any subsequent pull-backs. If we get this we stay long. But if it starts to stick under 7570 we need to close out and only go long again when 7570 is beaten with stops under 7500 for now.
BITSTAMP:BTCUSD
by sumastardon
1
Bitcoin: BTCUSD Bitcoin: BTCUSD This should stay fluid for a while yet, giving day traders a great space to trade in... a break below 6000 for a move back to 5747 (can take 200 or so points on that long from 10 minutes ago now if you want...just trade from line to line shown on the chart...we're looking for a double bottom today to sjow loss of downward momentum and give a chance of getting long...swing traders too look for a double bottom. Bitcoin ain't dead or even dying. Opportunity knocks today. we gotta answer the door. More as it develops.
BITSTAMP:BTCUSDLong
by sumastardon
6
Ethereum/Dollar: ETCUSD - entry points Ethereum Classic/Dollar ETCUSD Nice continuation patterns here giving quite clear entry points on each break above each little pattern. It's just had a good break and is a little overbought - so can't chase it here - instead, suggest 'going fishin' (as with last Dash comment which yesterday worked perfectly) - put an order in just above 15.24 break out level and maybe later in session the fish will swim to the bait and bite and maybe it won't. Eventually this looks as if it will move back to retest the highs around 23, with each level of most likely near term resistance, shown on chart....let's see if the fish bites
BITFINEX:ETCUSDLong
by sumastardon
IBEX Index: Last chance to get long for 1346 points updsideIBEX Index: IBEX 35 Going well so far after breaking above 10460-10470 overhead supply. Minor resistance at 10600 but it shouldn't come back much below 10550 now (stops under here by 20 pips or so) so giving another chance to get long here with a small loss if wrong. It should rally to 10761 once 10600 is broken through, consolidate a little there and then rally further to 11168 - and then after another bout of consolidation to 11576 and then, last push to 11888 target. About 1346 points upside and around 20 points downside from here.
TVC:IBEX35Long
by sumastardon
The stock market rally - it's far from overDOWI has made all time highs today, yesterday, a week ago. We are gapping, gapping and gapping. We are overbougt right now. Every single larger economy is pumbing money out in their nations, with very low interestrates. Some places you even get money for renting money. The inflation is not as high as is the last financial crisis. The bullmarket has begun, and it's far from over. Trump want's to lower taxes, build better infastructure. This inflation is healthy, not unheathly like in 2007-2008. VIX is low, rates are low, inflation is rising, consumers are consuming more. I would say this could last unil 2020. Nevertheless, I see USA as more bullish than EU. -but also more risky. Overall we have loads of money in the world right now, and I am sure that it will last. Long term long in stocks and options. Forex - daytrading and swintrading as usual ;)
DJ:DJILong
by RandomDane
Experimenting with Pivot PointsPivot Point Case: I have Daily Pivot Points, Fibonacci Style. Watching 30M, 1H, and 5M Charts. This would be for a scalp. TP would be around Pivot Point ("P" Line) or lower if trend strong enough. I just am observing a bear signal around R1, and as far as i can understand, trading Pivot Points properly requires being able to read how bars react around those levels. No different than hand drawn support and resistance levels. There is more to it than that I'm sure, but to keep things simple, I'm just looking for candlestick behavior and close/continuation around these levels. Price Action Case: 30 M Signal Bear Bar Formed and Closed. What constitutes a bear signal bar according to Brooks Price Action? 1. Close on or near the low of the bar. Upper tail 1/3 to 1/2 the height of the bar. Could be seen as a double top reversal with earlier high. Also a test to the 20 EMA. RSI: 70 Level (Overbought) reached, and a Lower High is forming. Typically, the pattern I have observed when a pullback or reversal begins- is after the RSI reaches or goes above 70, and then retests the overbought level lower (a lower high), you will usually get a leg down. It is a form of an exhaustion signal. Obviously overbought and oversold tests definitely do not guarantee a full trend reversal, but they can signal pullbacks enough for a scalp. You have to read the bars to understand the current context of market (trend, range, channel)
Short
by still_waters