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Bitcoin to form a blow off top?Bitcoin (BITFINEX) recently built support on diagonal line 1 after breaking through longer term support lines 2 and 3. Each of the past 3 bitcoin prices spikes resulted in % moves of 82%, 105% and 82% again, respectively (red labels). Each correction ends when the price dips down to meet the 100 day moving average (pink line) WHILE in the region of the 62-78% retracement. So working backward, I drew a fib retracement starting with the 62 and 78% retracement on top of the 100 day MA (indicating plenty of room for a blow off top, potentially upto 1750 USD). Then I drew a 4th % projection of 82% which shows a move to roughly over 1600 USD. As evidenced above, 82 % represents the minimum % move during price spikes in the past year RSI and MACD could be running to old highs which could also signal a continuation and potential blow off top. NOTE : todays daily bar could be forming a doji, indicating a reversal, but no conclusions at this time.
BITFINEX:BTCUSDLong
by FOMONOMO
WTI Crude Oil - Geometrical inverse and reverse Head & ShoulderThere is what I think the WTI crude will be coming from blocking all the white noise that are in the market, whether its political or just mere downright governance in theory. Judging from just technical aspect of the 10 years historical relevant to the hypothesis of the inverse and reverse head and shoulder formation. Geometrically, predictions via time and scaling, in November - January the price of oil should stride to $62.25
FX:USOILLong
by tyc708
USDJPY REVISED PROJECTIONSHello traders, After the BoJ fiasco I had to restate my assumptions and my long term bias on this pair. It seems as though the BoJ wants to drive price below 100.00 before announcing massive QE programs to address their debt issues. A strong yen will highly impact exports on the downside and they don't want that. Even though I was anticipating this from much earlier that wont seem to happen in the near future. As instead the bears will hunt USDJPY further down the road. . So it's very dangerous calling a reversal at this point and very risky indeed. If you didn't go short on the initial move its highly recommended that you stay out of shorts either. There are many supports in between and a lot of structure below this level. My analysis shows certain prices to keep an eye on. Don't use this information as a signal because the signal should be generated depending on how the price behaves around those areas. Wait for PRZ to be tested. And act accordingly. If you see price showing a complete disregard for these levels might as well follow the trend. Trade safe, trade well.
Long
by fromzerotospyro
EURUSD H4 - Bullish patterns projectionsAlthough the bearish Bat pattern on D1 chart is complete, the pair remains a little bit bullish. On H4 chart, bullish divergence is present and two possible patterns emerge. Wait for reversal pattern inside PRZ box to consider an entry setup. I’m more into the bullish shark pattern. Breaking support at 1.1086, could give an opportunity to go short in lower TF’s Trade carefully because there is a bearish divergence on D1 chart, so if the price goes up, don’t expect a big impulse
by X5
GBPUSD H4 - Multiples channels - Patterns projectionsSome times, channels doesn’t give you an easy view of direction, but when many converge, it give you a warning to trade with extremely care. I’m expecting a big up move for this pair and the Bullish Gartley pattern looks to be the time to enter long… will see If the price hits the PRZ box of the bullish Gartley pattern, I will be watching for bullish divergence and reversal bar pattern inside that box to consider an entry setup.
by X5
AUDCAD Short: Bearish Wolfe Wave Complete at ResistanceAUDCAD has completed a bearish Wolfe Wave setup at a crucial point of resistance. In the Wolfe wave sell zone, two 200% projections are closely aligned. In addition to this, a strong long term trendline sits at current price to provide potential resistance. To add to the bearish bias, MACD is bearish divergent and multiple missed daily pivots sit below price. Target is placed at the 1-4 Wolfe Wave target line. Trendline Resistance Thanks for your continued support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Short
by glennmercer
Short GBPUSD: Bearish Crab + Pivot Cluster + Wolfe + S/R GBPUSD has formed a potential bearish crab which contains a PRZ that coincides precisely with an unhit pivot cluster and a potential Wolfe Wave target. As profits are taken at the pivots, price may have a tendency to reverse quickly and drastically. SL is placed above a significant support and resistance area. Profit is taken at the PRZ of a potential bullish butterfly pattern confluent with a Wolfe Wave buy zone. If trade is triggered and target is hit, I will look for PA reversal signs at the bullish butterfly/Wolfe wave PRZ. Confluence in the PRZ: 1. Bearish crab pattern completion 2. 3.14BC projection 3. 2.5AB=CD completion 4. Unhit monthly pivot for October, 2015 5 Unhit weekly pivot 6. Significant S/R area 7. Potential WW target Thanks for viewing and please don't forget to take a second to click the thumbs up button and follow for future updates and trade ideas!
Short
by glennmercer
Long EURNZD: 10 Reasons!EURNZD is completing a conglomerate of potential harmonic patterns to produce a highly confluent kill zone. In addition to a host of pattern completions, there is added support from a long term trendline and another strong S/R area further below price. SL is placed below the S/R area and targets placed at the .382 and .614 retracement of CD. Confluence in the PRZ: 1. Bullish Gartley pattern completion 2. Bullish crab pattern completion 3. Bullish deep crab pattern completion 4. Bullish butterfly pattern completion 5. 2BC Projection 6. .786XA 7. 2.13AB=CD (Coincides with its .886AB reciprocal ratio) 8. 2.618BC Projection 9. Long-term trendline support 10. Strong S/R area Thanks for viewing and please don't forget to take a second to click the thumbs up button and follow for future updates and more trade ideas!
Long
by glennmercer
WW T2 Achieved: Now Short on Wolfe Wave, Bat & ButterflyEURJPY has achieved Wolfe Wave T2 (attached below) and is completing a series of bearish patterns in a confluent reversal zone. On the longer TF, a 1.13 projection of 0X lies at the top of the PRZ. There are also bearish bat and butterfly patterns completing in the area of a Wolfe Wave SELL zone. Missed pivots lie below price which may also drag down price. Entry in the middle of the PRZ with targets at the 1-4 WW target line and the .618 allow for a R/R of about 2.5. Confluence in the PRZ: 1. Bearish Bat Completion 2. Bearish Butterfly Completion 3. 3.14BC 4. 1.13 0X 5. AB=CD 6. 3 bc Projections 7. Bearish Wolfe Wave completion Thanks for viewing and don't forget to take a second to hit the thumbs up and follow for future updates and more trade ideas. Comments welcome! Long on Wolfe Wave: Long on Bullish Crab:
Short
by glennmercer
IT Count Revisited, After A Crash, Market Structure ProjectionsMorning everyone. It has been a week or so since our last post, but there really hasn't been much to talk about as we range race and chop around in what could be the formation of a larger fourth wave triangle. The Cyan 4/a is likely the demarcation point for the correction as much over that and a shadow of doubt would be cast over whether or not there is another low lurking about. It is our current view that we are still short another low that should exceed the 1830 zone and could potentially see us fall as far as the 1700's before embarking on another leg higher. I found this article interesting in what happens after a proposed 'crash'. The big take away is the last bullet statement under the chart in the article. That is the most similar to our most recent 'crash'. That group of declines didn't have the lows revisited for at least 25 days after the crash low and potentially as long as 40. Using this as a rather crude timing instrument based off past precedence we likely wont see the lows revisited in any meaningful way till the end of this month into the first of October. As with all sharp moves, they take time to develop and this one is no different so it would appear to be wise to remain vigilant and short term trade oriented for the time being as we navigate our way through this choppy phase to a more intermediate term tradeable juncture. Below is the article mentioned above and also our Market Structure Projections for the day. What Happens After A Crash Article: jlfmi.tumblr.com Daily Market Structure Projections: mcm-ct.com
FX:SPX500
by MCM_Creative_Technologies
Market Predictions for ES Dec-14 - Two Weeks Support/Resistance Weekly bottom was formed on 15-Oct-2014 which is one week earlier than our expected ES bottom on this week ended on 24-Oct-2014. The price closed well above the critical sentiment level of 1941.50 on Thursday 23rd and continued the move on Friday 24th towards critical resistance lines 1965/1966. We are looking to buy the dips to 1940-1942 levels and if the price closes above them, there is highly potential for immediate trend continuation of weekly charts towards the projected market top on 7th-Nov-2014
CME_MINI:ES1!Long
by AK_2014
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