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Ethereum Classic, ETC/ETH Broke Out of TriangleEthereum Classic, ETC/ETH on Binance just broke out of its (long) Triangle. Consolidated a while and found good support at 35.000, which was previous resistance as well. On the hourly chart, you can see that the indicators are from its lows and curling up now. Volume is picking up and ETC/ETH is also above the 12 and 50 emas. With the coming fork and airdrop, Ethereum Classic could be ready for another run. So are you ready to trade it? If so, here are the instructions: Entry: 36.815 Profit: 41.250 Stop: 36.095 RR: 6 (risk 2% to make 12%) Since this is a day trade, you can take profits quicker and partially if you prefer. Please like and share if you found this informative and helpful. Leave a comment if you have any questions. And good luck trading!
by Trade_Masters
Ripple XRP/ETH Ready to Take off Again?After a good run Ripple, XRP/ETH on Binance has consolidated and found good support around 117.000. Volume is currently low and indicators (RSI and MACD) has formed a divergence. Is Ripple ready to take off again? We will see but it has a high probability to follow through when it breaks out of its triangle. Trade Instructions: Buy in Range: 117.000 - 118.120 Profit Target(s): 1. 122.900 2. 125.900 3. 129.000 Stoploss: 116.000 This is a low-risk high reward trade if you execute it right so good luck with your trading.
by Trade_Masters
4
Another "Flag Break" on GTO/ETH making a quick 8% profitIt has been a while since our first and last trade but we're at it again with another nice Flag Break trade setup on GTO/ETH at Binance. To give you some context, the goal with our trading on our Binance account is to increase our ETH. At the beginning of this month, we started with 4.49 and after our first trade that grew to 4.8. Today we saw a quick trade opportunity on on GTO/ETH at Binance. After a huge run yesterday it consolidated on light volume and found support around 40.500 while forming a flag pattern. Trade Plan: Enter trade when the flag is broken Trade Management: 1. Entry: After flag break, above moving averages (12 and 50 on 3m timeframe) for higher probability. We missed the initial break of the flag but got in when price started running again at 45.197. 2. Profit: Usually you can take 1/3 - 1/2 of initial run as profit target/exit if you have the patience. But since we saw some big sell walls in the order book and we're satisfied with a decent quick profit, we decided to take partial profits just before the big sell walls. Sold at: 1. 47.989 2. 48.979 3. 49.769 3. Stop: -2.5% of entry, 44.067 4. Profit: 7.8% With this trade our ETH's grew from 4.80 to 5.17. Please like and share if you found this informative and helpful. Leave a comment if you have any questions. Leave you with a quote: "It's not the daily increase but daily decrease. Hack away at the unessential" - Bruce Lee And until next time, good luck with your trading.
GLong
by Trade_Masters
PG at SupportI was too early on my first go at PG bouncing off of this strong support level. I should have taken note of the bear strength that drove price downward and anticipated some sort of pull back and retest. The bear pressure has since rounded out and we've got a nice swing-low, deep in the support area. The swing-low candle itself was a hammer, followed by a decently bullish day, making for a convincing little pattern that price may finally be ready to turn around.
NYSE:PGLong
by Myles-Slepian
WYNN Breaking ResistanceAfter my six trade experiment with using purely S/R and reversal patterns as my strategy, I ended up 2 for 6, breaking even profit wise. I will continue to try and identify opportunities at strong support levels, but I'll be attempting to hone in on my targets and exits using Fib retracement lines. I will also begin incorporating the 20 and 50 day EMA's to identify opportunities where price touches or breaks through. Finally, if an Elliot Wave is obvious to me, I'll be using it to aid in my decision making as well.
NASDAQ:WYNNLong
by Myles-Slepian
Simple S/R Strategy: Trade #2 - NKEI've been watching NKE interact with this strong support for a week or so. I watched the Tweezer Bottom occur and thought it was going to be the reversal...fortunately I took that trade with Paper Money. I believe the two Hammer candles that are now present might be the true reversal, so I'm taking a shot. Limit buy to protect against a continuation pattern. Tight stop because if this is the true reversal, we shouldn't move any lower.
NYSE:NKELong
by Myles-Slepian
2
My Simple S/R Strategy: Trade #1 - MGMAfter spending many, many hours on Jeremy Newsome's RealLifeTrading website and Youtube channel, I've come up with a strategy of my own and will begin documenting each trade for learning and adherence purposes. My Rules: - Only Buy during Accumulation or Distribution phases - Price MUST be caught between my S/R lines, mapped using the Daily chart - Price MUST have bounced off of this support at least TWICE already - My stops will ALWAYS be 1R, and I will begin trailing my stop anytime a profit of 2R is reached - I may exit early where I see fit in effort to minimize losses - 3 open trades at any given time is my max - I must document how long the trade should last and why To Jeremy.... Simply, thank you. ~ Myles
NYSE:MGMLong
by Myles-Slepian
7
AUD/CAD SELL SELL SELL !!!Reasons for this setup we have been making lower lows (indication of down trend) bounce of Fib level 50% bounce of bearish trend line there are numerous long wicks on the daily to the upside which could indicate more sellers in market and buying pressure drying up and every wick unable to make a new high (Daily chart) 5 wave move is evident as we have one last leg to take out it is playing out as a continuation pattern we also have a nice bearish push of key psychological level at 1.0000 putting in strong bearish candles Also with the incoming strength of oil CAD looks ready to gain some strength COT report indicates Oil is gearing up for some buying pressure so therefore effecting CAD in a bullish push This setup is an aggressive setup as we are in a descending triangle and entering before any breakout is risky but I am telegraphing the move early which is risky but I fancy my chances on this setup Also id like to add this is a longer term trade My entry 0.9937 Risk nothing more then 2% per trade my risk on this trade is 1% Best of luck to everyone trading
Short
by ARFXC
3