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oil is just coming to end of correctionoil has been on an upwards trajectory ever since the April month and has done a series of Elliott waves followed by consolidation and corrections. to which point we are currently at the phase of a possible correction ending. before the start of a new trend. if you guys can help keep and eyes out and share input into the comments I'm sure we can identify the next pattern and jump on to the next trade. happy to help with any questions. remember. the trend is your friend.
OANDA:BCOUSD
by redbullbestbull
Stop Loss Hunting for USDCADFor this pair, Now the price is at the bottom of the range structure. From what iI anticipate that those who buy just from looking at the support and resistance will place their stop loss right bottom of the range stucture where the stop loss hunting will take place and wipe off all the buyers and also the FOMO traders who bought earlier. So when the Stop Loss hunting is done, then Most traders will think that this is a Sell opportunity which will trick them into selling. this way they will continue the initial move up after taking all the stop loss.
Long
by Haarshy-2ndlevelhunter
WMT - A Beautiful Chart, Recession Proof CompanyWhile others will publish just about anything to keep their click count and reputation up while first BEGGING you to LIKE their post PRIOR to even READING it, I ask you to first read my idea and THEN decide whether to contact me with questions or like my post. I'm here to help you find opportunities for trades and investments - not to beg you to raise my reputation. Now to the idea: $WMT weekly chart - it's a beautiful thing. Walmart is as close to a recession proof company that you can find. Pharmacy, clothing, grocery, home improvement, toys, sporting goods, they have it all. They report next month and they will absolutely knock it out of the park. I can see this easily going to $150 and beyond. It's a core holding in my portfolio. If you found this to be insightful or helpful, please show appreciation by hitting the like button. If you want more ideas I invite you to follow as well! I try to be here for all of my followers with any questions they might have. Feel free to shoot me a DM or comment below to start a conversation!
NYSE:WMTLong
by chartsareforships
3
Bitcoin, return of volatility ?Hello avid investors and traders out there, I will make a little study market of Bitcoin. Bitcoin is in weekly consolidation for the 9th consecutive week and last week's candle closed in doji for the third time in a row. Suffice to say that nothing has been going on for 1 month and a half because the price is still in the range without giving any indication on the continuation with a 50/50 chance of breaking up or down. The price is drawing a “pennant” triangle. The Pennant is a chartist figure of consolidation, very generally if it comes from an upward movement, it is statistically more likely to break on the upside. On the other hand I always distrust this figure which very often gives false signals either by breaking first by the top, by drawing what is called a fakeout (break out which fails), or by breaking by the bottom of first and then cross the upward triangle. Lately the traditional markets have not decided either. With each bullish momentum, there is a bearish momentum and the gaps to be filled move. The whole reacts significantly to each economic news whether "positive" or "negative". Until the traditional markets decide to resume the uptrend or start a real correction, there is little chance that the Bitcoin market will come out of this consolidation. Furthermore, the correlation between Bitcoin and risky assets like # Sp500 is extreme ... I recalculated the Expected Move option contracts on July 31 to see the volatility this month, according to traders and option investors. The EM calculation predicts a movement of 930 points which still leaves us in the range. I remind you that the ME is a statistical analysis which makes it possible to obtain a cone of probability. There is a 68.2% chance that the price will close in the cone until the end of the contracts. According to the ME, there is still very little volatility to predict. Traditional markets are likely to be quiet this summer like everyone else, so implicitly, there is a good chance that the Btc will be too. At the start of the evening yesterday, Bitcoin tried to cross the $ 8,900 to encourage a large number of sellers to shorten. The bearish movement did not last long because yesterday's day ended with a huge daily hammer. As a result of this movement many shorts were trapped in what is called a "Bear trap". Many shorts were trapped, resulting in many liquidations which allowed the rapid uptrend this morning. In Daily time units the price of Bitcoin has trough above the previous one, the first signal of a possible trend reversal. I remind you that last week Bitcoin went into a daily downtrend. To have a structured short-term plan, I usually frame the last peak and last trough in what I call a decision rectangle. A bullish crossing would lead me to seek purchases while a bearish crossing would certainly lead me to seek sales. If the last low of 8920 is maintained and the last peak of $ 9,300 is crossed upward, it is likely that the price will go to seek the $ 9,800, significant resistance. On the other hand, if the trough is crossed downward, there is a good chance of first looking for the weekly resistance of $ 8,600. If this weekly support is crossed, the rebound zones likely to serve as supports remain the same as last week. As long as the $ 6,000 level is maintained, Bitcoin still has chances to maintain its bullish bias and try to cross the $ 10,500 again. On the other hand, I doubt that the crossing of this resistance 10 500 will take place before the summer. Follow closely the news of traditional markets and the trend of the SP500 because in the short term it is he who will dictate the conduct of Bitcoin
COINBASE:BTCUSD
by Captaintrading