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Enter on a logical level, move to 8,800 -> 9,000 possibleToday bar is likely to end up as a pin bar. It is to be expected, bitcoin was in a contraction phase and November crash created strong Ichimoku cloud upfront. On top of all that, sudden upward movement happened to leave 3rd deviation Bollinger Bands, which is statistically more frequent on cryptocurrencies but still increases pullback probability by a great margin. I recommend avoiding trading against the trend. My personal setup is to enter on a logical level based on Volume Profile. Reaching a low volume area, however, is not a signal by itself. Price action signal should appear on the level. Another pinbar would be most comfortable to trade, but something like outside bar appears, I will take it too. I'll update the analysis when we reach the level. I will be rating all my analysis this year. This setup will be considered successful if we reach the lower rectangle and open a successful long position based on price action with a minimum of 2:1 ratio Good luck
BITMEX:BTCUSD.PLong
by OrcChieftain
Bitcoin is just BALANCING! No Reversal is ahead!Bitcoin is just correcting its very long inventory. No need to worry for longer-term holders! It is just substituting weak-hand longs for stronger ones! Based on profiles from week 25 to week 27 of 2019, we've had an aggressive buying by short term traders which is very evident in week 25. In week 26, we got an excess high due to high liquidation by these day timeframe traders as approaching heavy resistance around $14000 level. During week 27, very short-term traders started to buy the dips and this pushed the prices higher. However, since this bounce occurred by weaker hand money, as it is evident by "poor low", it was unable to reach previous high at $14000. Note that the auction to the downside is NOT COMPLETE due to lack of a good base for this bounce!!! I expect the current week bitcoin liquidation will continue to the prominent POC of week 25 where a major support by longer term holders is laying at around $9100. Go long there if you witness a solid strong base. The targets are previous high at @13800 and (if conviction is strong) $16800.
BITSTAMP:BTCUSDLong
by HamidN
BTC potential targets aboveI am currently looking for indication the next move will take us to the 61.8, possibly 78.6 fib The 61.8 fib lines up with current level and size of earlier candle 3240 - 3470 Looking at volume profile I have orders to add long if we retouch the 3240 support or wick to 0 fib at 3200 I already have a short open from 36 so will keep a close stop on long, 3160-3180 but will be monitoring the price if it drops to that level Magenta dashed lines are just rough support / resistance lines Grey boxes are order blocks from last year Purple and Blue vertical lines are just guides for candle height
BITMEX:BTCUSD.PLong
by paulflint
EURUSD Volume areaRight now is two parts of the Volume Areas... One without volume that was created by rapid motion up. The effectiveness of the Volume profile suggests that this area should be filled in the future. But for my is not so interesting this area. Other one Volume area which i call " MASSIVE VOLUME " area is more importent for me. Because there was the accumulation of orders through a large movement up which mean... There is strong buyers and i want be on the side strong buyers and waiting for pullback in to this area. If you want more information about VOLUME PROFILE check my last offer !!
by Trader_Dale
USDJPY long levelsI said it at the beginning of my book – indicators are quite useless. Big institutions don't care about them. Also, standard indicators work only with "price" and "time". For that reason the information indicators provide are always delayed. Novice traders need to accept the fact that there isn’t a magic combination of indicators that would make good and profitable trading system. Only Volume profile can show you TRUE Support and resistance. Because combinate more information about how market iniciated moved. Watch my intraday levels from my Members section.. Take profit = 10 pips Stop loss = 12 pips Happy trading Dale
by Trader_Dale
NZD/CAD short from 0. 8767This trade idea is based mostly on a Trend setup. There is a strong downtrend on the NZD/CAD right now. In such case, I look for volume clusters that were created within the downtrend. Such a volume cluster as around 0.8767 shows us that sellers were adding to their selling positions there and that they continued pushing the price lower from this area. When the price makes it back to this area again (pullback), then those sellers are likely to defend their positions and push the price lower. Another confirmation of this level is as Support becoming resistance Price Action setup. Quite near our short level, there was a pretty strong rejection of this level in the past – marked in blue. This indicates that it was a strong support in the past. When the price went through this support then it became a resistance. There is one more thing about this level which I like – it is the pinbar candlestick (I marked it in the red rectangle). This pinbar shows us aggressivity of sellers, which again confirms the idea of a short trade from 0.8767.
by Trader_Dale