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Rangebound

ETHUSD Perspective And Levels: Tight Range Low Volume. Zzzzz.ETHUSD Update: New range bound condition established between 190 support and 205 resistance on declining average volume. With August 1st around the corner, I don't expect much follow through from this market. The 205 resistance which I mentioned in yesterday's report continues to hold, (.382) of previous bear swing. A break higher would indicate that the bearish momentum that took the market to this area has been absorbed. As long as this level holds, price is likely to decline into the 183 to 163 support zone. There is a triple bottom that has formed under declining volume (see chart) which makes this bullish reversal formation less reliable. Range bound markets express equilibrium. It means both buyers and sellers are in agreement. A trending market is where there is an imbalance and one group dominates over the other. On the bigger picture, the buyers are still in control, since the 190 low is much higher than the 136 recent low. Higher lows typically lead to higher highs. Since this market depends on the outcome of 8/1, we must be prepared for anything, because events like this cannot be anticipated from a technical point of view. The other factor that we are contending with is volume. Low volume makes price patterns, break outs and other signals much less reliable. These conditions are known for a much higher degree of randomness, and from my experience, are best to avoid. Keep in mind when your broker sends you an email explaining that your withdrawals are going to be halted, and that you need to put your request in by 7/31, that is going to create fear (especially when you follow their instructions, and they still delay your withdrawal). And you get this email after reading about one ICO scam after another. Not good for facilitating volume in a market. I am still interested in buying into this market for a swing trade, and if I get my price validation within the price zone that my trading plan calls for, I am willing to take risk even before 8/1. I will just have to start smaller, and use a much wider stop than usual. If for some reason price breaks out to the upside before 8/1, there are quite a few resistance levels to contend with like the 212 (former support), and the 230 area. I would be surprised if price can make this progress before Tuesday and expect it to continue to stay range bound or find a new range at lower prices. In summary, 190 to 205 is the current range within a declining volume environment. Price patterns and signals are going to be less reliable, but I am prepared to get back in within the 183 to 163 support zone if the market shows me a reversal pattern. Risk is higher and must be adjusted for especially before 8/1. Otherwise I will stay flat and continue to watch. Also I have a question to all my readers: What other markets would you like to see an evaluation on? I write about ETH because it seems this is what the community gets the most out of, but I follow many other markets as well.
BITFINEX:ETHUSD
by MarcPMarkets
37
GBPUSD Range Trade from 1.215 - 1.26GBPUSD ranging between well tested support and resistance levels at 1.215 and 1.26. Based on existing uncertainty surrounding Brexit, and fears of 'Trump Rally' reversal I hesitate to predict the trend going forward, but as 'Brexit' appears to be at least partially priced in, I'm more comfortable buying below support, with a tight SL, and TP at 1.26. This strategy is supported by the high volumes accompanying bull candles at the bottom of the range, suggesting high Sterling demand at these levels. This is all contingent on no major surprises in the economic releases for the next few weeks.
by Trade_Wind
Range trading opportunity AUDUSD is currently trading in a defined range that has been in play of a while. Price is approaching the the support line of the ranging market as well as the 50 day and 200 day moving average . Stochastic RSI is also in oversold territory. Wait for price to move lower towards the 50 day and 200 day moving average and buy on the bounce. Profit target should be the resistance zone at 0.77199. A stop loss should be placed just below support around 0.00691.
Long
by f_carter93
Gold Trading range between 1220 and 1250 before big moveGold appears to be in a corrective state from a large bearish breakout. The 61.8 Fib level at 1220 should hold as support whereas the 38.2 level at 1250 will act a resistance. I see an upward break of the ascending trend line coming after the first test of 1250 before a retest of 1220. The 2nd Test of 1250 will prove critical, a break above and the bearish trend can be considered over and 1450 should remain as a long term target. A rejection of 1250 a second time and a break back below 1220 and we could see Gold nose dive back toward the 1000 level. Will update ongoing
TVC:GOLD
by gerconvery
UK100, what's next?Hello guys! happy new year. UK100 indice is printing a nice range here and as we can see, it's at a very important point. Break or reversal? Our 2 most important questions. AS usual, we're not the one to decide, so let's watch it and see what the market will decide in the next coming candles. As for a personal analysis, I bet for a reversal. Price is at the resistance, we have a doji candle and not much volume in the market for price to break the 3 months high. Still, let's wait for the upcoming candles.
OANDA:UK100GBPShort
by nkanven
EURAUD is preparing somethingHello everyone, we can see a kind of breakout of 1.45 level, is it false or pullback for a continuation? I can't tell. I need more signal to decide about which direction to take. For now it seems coming back into the channel. if so, I will go short and target the support level for TP, SL somewhere near 1.46 Notice, this level have been holding price for a very long period of time. Since april 2015, price usually test it first. Not easy to break a psycho level like 1.46 Since november 2016, price is trapped between 1.45 and 1.46. For now, no decision have been taken
by nkanven
1
Nearing pivot levelTechnical First off, I do not suggest shorting companies based off fundamentals. I believe there are 17 pure short hedge funds out of 10,000 or so that run a fundamental short book. I have no edge over them. H/T FT Alphaville podcast with Jim Chanos, great listen. This is purely based on technicals. The trading range, as I see it, is 92-120. Strategy- sell 120 buy 92. Rinse, repeat. I am more biased to be long these kinds of stocks, so I would buy on a dip toward 92. These giant tech companies can go range bound for years. Microsoft traded 20-36 range for almost 15 years b/f breaking out to the upside. I would call this more of a swing trade with a 6 month+ time horizon.
NASDAQ:AAPL
by CalebDismuke