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EURJPY - Bearish SharkA Bearish Shark Pattern as a countertrend trade form up on both EURJPY and GBPJPY 1-hourly chart. As we know the shark pattern can have as many as 3different entry prices, these 2 patterns only have one. And both of them has RSI Divergence. That's one thing I love about these setups. Comparing the 2, EURJPY would be a much-preferred pair as it forms upon structure. We have also learned that cherry-picking don't do us much good. I'll engage both trading setups. I'll include the link to the GBPJPY for your reference.
Short
by RaynLim
LITECOIN BREAKS BELOW AND TEST KEY SUPPORT ZONE OF 162.00 Cryptocurrency Litecoin gave up a 20% gain and tumbled back to Earth following a fake press release sent out by GlobeNewswire that referenced a partnership with Walmart on September 13th. After that, on September 16th, Litecoin entered a tumbling mode after it hit resistance at $192.00. Then, on September 20th, it broke below the upside strong support line tested six times from August, and it fell below the key support (now turned into resistance) zone of $162.00. That zone had been acting as a floor for the crypto since August 10th. With all these technical signs in mind, the experts would consider the short-term picture negative, but the price is at a turning point, and all traders will watch it carefully. Yesterday, Litecoin hit support at $146.00, and then it rebounded. However, even if the rebound continues for a while more, we see decent chances for the bears to retake charge from near the $162.00 area. A forthcoming wave may result in another test at $146.00, the break of which could pave the way towards the $136.00 zones. If that area is not able to hold either, then a lower break may set the stage for extensions towards the $104.00 territory. On the upside, the experts would like to see a return back above $192.00 before start examining whether the outlook has turned bullish again. As mentioned above the line, the crypto will already be back above the upside and may climb towards the $233.00 area. If that area surrenders, the next hurdle to consider may be the spike high at $250.00. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
COINBASE:LTCUSD
by legacyFXofficial
No trade zone GBPUSD - but a foresighted viewWe are currently in a no trade zone in GBPUSD. Depending on which Diamond Pocket is approached first, a setup results: Variant A: We test the resistance above and are rejected there for the time being, target area would be the current 4h SR. Variant B: We lose the 4h S/R here and find support at the lower Daily S/R levels.... Target would be a renewed test of the current 4h S/R. Wait and see. Happy trading __________________ BullvsBear Academy
by UnknownUnicorn9344165
Bitcoin's Critical LevelBitcoin is currently at an important technical crossroads. Everything I've previously said still stands. Bitcoin is still - until proven otherwise - in a major zigzag correction, in which it's completing the B-wave. Yet, on this chart we'll go through the latest updates. We'll deal with them systematically, so please follow the adhering numbers on the chart. 1) Bitcoin is trading right at a strong resistance zone. This area has amounted to a lot of reversal action, both in terms of closing candles as well as wicks. With that said, the even stronger resistance zone is the one between $57,700-60,000. That level is the ultimate all-time high zone at which Bitcoin faked out in April and then initiated its -55% dump. Don't for a second expect Bitcoin to push through this resistance zone without a serious fight. 2) Bitcois is currently trading precisely at the 618 fib - the golden ratio. 3) The trading volumes from $40 000 and above have been ANYTHING BUT CONVINCING. These trading volumes rather tell me that the purchasing enthusiasm is lukewarm at best. 4) The trading volumes in turn are supported by a 6-point RSI divergence on the daily chart. This means either of two things. Either Bitcoin fails this level and plunges down. This scenario is the by far most likely one. For do not be mistaken: the more points an RSI divergence is made up by, the more power it musters up. Hence, if Bitcoin were to fail, we'd do wise in expecting a serious throwback. The other alternative is that Bitcoin breaks above the current price resistance zone. This would automatically result in the RSI breaking above its divergence. This should be more than enough to pump the price up to the $57,700-60,000 resistance zone and is equally so an opportunity I intend on hopping onto with leverage. With that said, Bitcoin is still far more likely to break down. What I'll be looking for in such case is for the RSI to test the upper bearish blue line from below, which would be THE ideal shorting signal of them all. For more on the immensely powerful RSI strategies, please watch the RSI trilogy.
COINBASE:BTCUSD
by LongLifeTrading
1
COCA-COLA CO. BOUNCE BACK TOWARDS FROM THE SUPPORT LINEThe Coca-Cola Co. (NYSE: KO) has been in a correction mode since August 16th, when it hit resistance at around 57.50. It hit the support line on Friday last week formed from the beginning of the year with Doji candle, and experts expect the market reaction today. Today's response is not late, as the action bounced off the support line with a solid green bar, with investors hoping for a new peak. Even though the stock is testing above the line, combined with the fact that oscillators detect downside momentum, experts nevertheless adopt a neutral stance. Now, in order to get confidence that the uptrend has regained fuel, investors would like to see a recovery above 57.00, around August 16th. This could initially target the highs of July 21st and 27th, at 57.55, the break of which would take the stock into territories last tested in March 2020. The next resistance may be around February 2022, which if it doesn’t hold, could pave the way towards the peak of 60$ per share. Shifting attention to short-term oscillators, we see that the RSI lies below 40 and points downward, while the MACD runs below both its zero and trigger lines, pointing down as well. Risk Disclosure : Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
NYSE:KO
by legacyFXofficial
1
USDJPY getting ready for a drop!Based on the chart, price for the third times reached a major resistance area and rejected. So based on these rejections, it seems to be a good trading area with low risk and high gain. Also the candlestick movements are getting weaker which can be a good sign for sellers. So based on this scenario I prefer to be seller at this area which can have good risk reward ratio. Note1: Selling on highs of the chart, can be a good trading way for this currency pairs for the following days. Note2: Please take risk management rules into consideration before opening any position on the market. Good Luck!
Short
by Brian_Philips
4
BITCOIN TRYING TO REACH TOWARDS THE $50,000 LEVELThis week the total cryptocurrency market capitalization bounced back to $1.9 trillion, which was a 20% weekly increase and the highest level seen since May 20. Bitcoin will continue to pay close attention to inflationary expectations because inflation has been a driver of Bitcoin to go higher for quite some time. It does make sense that traders would see attention paid to the 10-year note. That interest rate is something that a lot of people will be paying close attention to as well, thereby driving whether or not there will be attempts to protect wealth via Bitcoin and many other assets. While the fresh bullish momentum attracted the attention of investors, Bitcoin's move from $33,400 to $45,900 was pretty much in line with the rest of the market. Yesterday Bitcoin hit and stopped at psychological levels around $45,000, and traders will be the next. The current price stopped at 50% Fibo retracement level after testing and confirming 23.6 Fibo level as a support. $50,000 level is a significant support level from the past and a major psychologically important level that will attract a lot of headlines and also matches with 61.8 Fibo retracement level. If the 50K level is a breakthrough, experts will expect to see prices around $60,000 which are very close to the April all-time high. In the bearish scenario, it is possible to test the 38.2 Fibo level again at the prices around $42,000 or 23.6 at $37,000 or far down to the strong support level around $28,000. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals; therefore, it cannot be held liable nor guarantee any profits or losses.
COINBASE:BTCUSD
by legacyFXofficial
Elliott Wave Analysis: Crypto Market Nearing Strong ResistanceHello Crypto traders and investors! We have seen a bigger recovery in the Crypto market, but mostly due to BTC and ETH, while other ALTcoins remain quite slow and weak. The main reason is BTC.dominance which is kicking back in. Now that cryptocurrencies are in the mixed recovery, some stronger, some weaker, it's important to keep an eye on Crypto Total Market Cap chart. As you can see, Crypto market dropped with five waves from the all-time highs, which is first leg (A) of a three-wave correction. Currently it's approaching important June highs resistance within a three-wave A-B-C corrective recovery for wave (B) that can stop around 50%-61,8% Fibo. retracement, from where we should be aware of another decline for wave (C). All that being said, as long as Crypto market cap is trading below or around 2.0T, watch out for another sell-off that can push the price back to June lows. It's not about being right or wrong. This is normal. The point is not to lose the money, when you are wrong. That's why confirmation are very important. In this case, if Crypto market cap starts dropping below channel support line and 1.5T, then we can easily confirm that bears are back in the game. Be humble and trade smart! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
CRYPTOCAP:TOTALShort
by ew-forecast
6
ULTA looking to make new all time highs!ULTA (Ulta Beauty, Inc) is testing resistance around the $355 area that dates back to mid 2019. Fundamentally, * It's undervalued with a PEG of 0.77 * Its earnings per share is expected to grow over the coming year. Technically, * General up trend * Beta > 1 (following the general market trend) * Broke above the resistance of $315 that dates back to 2017 and retested it as support * It's approaching and testing resistance that dates back to 2019 and is looking to break through Final thoughts: * This is a good long term hold as the company is generally doing really well. * It's currently undervalued, meaning it's actually worth more than the current price. * Now would be a good time to get in if you're looking to hold this for the long term. * If you're looking for a discount, look for buying opportunities around the $340 area * If the price closes below $340 then look for buying opportunities around the $330 area. Alternatively, if you like to buy high and sell higher, you can look for the price to make a weekly close above $355.36.
NASDAQ:ULTALong
by HaseebKhan_90