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Retrace

REN - Potential Breakout Forming? Wait for Confirmation!!REN looks like it's ready to make some moves on the daily chart. We see a clear parallel wedge, a bat style fractal that has similar proportions to a textbook bullish bat, RSI is in a very good position for growth, MACD is showing a huge bull divergence which could be the start of a new potential uptrend, and volume is good on the breakout so far (though still need more time on weekly for confirmation there!) This should be a clear breakout or fakeout play, it's literally at the upper limits now so if we see a punch through look to snap some up on the retrace afterwards as we're likely to see more upside. This isn't financial advice. Want some financial advice? Don't get baseboard heating, it will kill your hydro bill.
RLong
by cryptosince1963
BTC/bitcoin to 16k in Q1 2021. yearly pivotsLets look at what the price did the last 6 years when btc opened up a new year with an untested yearly pivot. 6 out of 6 of that year almost immediately started their rise or fall to test the pivot. This is despite whatever excuse for why that cannot happen now. even with that panic fall in 2015. the very new W2 wick went up and struck it on the dot. This is before and after futures market. Despite news no matter if it favored or was counter-intuitive to a trend at the time It is simply algo behavior on a larger scale. If TA is supposed to use the history of price action to determine future price action... 100% of the time something happening is probably worth paying attention to. Supportive points. The higher timeframe oscillations are very high. several unfilled gaps and a fib retrace also lines up in that area. huge bearish divergence on bi weekly chart If wrong. and the price takes out the previous high on a closing basis and if by some long shot we take a last move up to 29k by monthly close.... the next yearly pivot would be coming in around 20.5k..... still 3.3k lower than here and much further from there. That being said. I see no conviction for being bullish in terms of spot or margin in this point. even if we moon to 29k.. history suggests you will still get a better price than the current one here. good luck all
COINBASE:BTCUSDShort
by Gunslinger2005
1
Despite bullish BTC move. BTC to see the 14-15 area stillshowing on this chart are both the last 6 years (top) and months (on bottom). I do this to illustrate the algo phenomenon called the magnetic trade. This Occurs also in daily and weekly levels. What does magnetic trade mean? Essentially anytime and asset opens a time frame that is far from its new pivot. That point becomes and algo driven magnet to pull price back to it. I have calculated the next yearly pivot. Currently comes in around 14k area at the moment. if you observe the last 6 years of price action you will see this has been and undeniable event traspiring on previous yearly opens to both down and upside. I am not saying I am bearish. I recently posted a monthly trade from the 17000 area for the monthly H3 which is coming in around 21500 and said I expect that may very well happen first. and we may have a bull run after..... However I definitely expect the yearly retrace to go as history has shown
Short
by Gunslinger2005
12
btc monthly pivot incoming. question is from wheremonthly pivots get struck. like every one of them. they don't go untested and the next one coming in in the low 17k area. question is where does it fall from. there is still about a week left. some possible areas are monthly H6. it's a high risk bull target at 22k. another possibility is from here. the current weekly h3. at 19312. if looking for the correction those are some potential places. and the currently weekly breakout or stop loss area if trying from here would be about 19586. these pivots are algo formulated by camarilla pivots and cpr combined. the indicator I am using can be found in my profile script for free. good luck
BINANCE:BTCUSD.PShort
by Gunslinger2005
4
NATURAL GAS MASSIVE SHORT OPPORTUNITY: ELLIOT WAVENATGAS has bounced off strongly from the upward channel it's been following since March, completing Elliot Wave step 3. I'd expect the price to retrace towards the lower trend line of the channel, marked in green. The lower trend line will be hit somewhere late December to my expectation, just in time to bounce back up to complete the last step op the Elliot Wave. The bounce is to be expected since it overlaps with the increase in demand which, historically, peaks during the winter.
OANDA:NATGASUSDShort
by FieryTrading
Bitcoin Resistance Zone: Good Location To Lock In Some Profit.Bitcoin has broken out of the recent consolidation and is now testing the 11,600 to 12,300 resistance zone (has been on my chart for months). I shared our LONG entry price at 10,675 (see my previous article) and it has reached it's first target at 11,375 for a 700 point gain. Technical notes and what we are anticipating for the week ahead: We have reduced our risk by 1/3 and have two more targets. The 11,600 to 12,300 resistance zone has been a tough area to clear so our next target is placed strategically within this zone (shared with members). Current prices are a location to lock in profits and reduce risk, NOT to add risk based on the rules of our LONG ONLY swing trade strategy. The broader trend (as defined by the 9K support) is BULLISH. This has been the case for months. This means overall probability favors bullish break outs and HIGHER HIGHS. Shorting this market and expecting 8K is a low probability idea because it is not within proportion, and NO significant supports have been taken out. Funny how many "Gurus" were bearish at the start of the previous week. A retrace to the 11K whole number support would be ideal for a new swing trade long idea since it was a previous resistance. There is no guarantee Bitcoin will deliver such an opportunity. IF 11K trades and a reversal pattern develops there, we will be prompted to share a new swing trade long. Inflection points that can potentially be reached over the following week are the 12,300 and 13,600 AREAS. Why not buy more now if we think it's going above 12K? Professionals account for RISK FIRST, not rewards. Current levels require a much larger amount of risk which doesn't justify the potential reward based on the chances that price will clear this resistance easily. This view is based on the rules of our SWING trade strategy which is not to be confused with "investing". If you are long from the 10,675 area, it is a good idea to raise your stop loss to break even after locking in some profit. This makes the trade risk free and IF price retraces to the entry, the outcome is still profitable. Our trade ideas begin with location first, then confirmation. We do not REACT to information, we do NOT day trade and we do NOT short this market. Simple rules. Our goal is to remove ourselves from the equation as much as possible and let the market work. No news, no oscillators, no opinions and no nonsense. I hope you find my analysis helpful. If you do not agree with it, that's good because it takes opposing views to make a market BUT for the benefit of the community, at least share a chart or your reasoning rather than comments like "It's going to 8K first".
BITSTAMP:BTCUSD
by MarcPMarkets
20
Still Bullish But It’s A SellSo early I published a bullish flag and then the break out to off to the moon. Well I decided to take the retest even I categorize myself as a breakout trader. At first my psychology had the best of me as I thought I my have entered to early and price reversed and went higher at the beginning of the 11am candle. So scared newbie I closed those positions before the event over $5 in loss. Then at 11:35 price dropped and went into sell as I had predicted originally so I waited til the close of the 11 am candle to confirm the retest. Lesson learned here: be patient, be confident, and let the market come to you. There is nothing to fear but complacency.
Short
by HeyWhit
1
Gold Retracement StrategyI've been following the path of gold ($GLD) and silver ($SLV), and how it's been relating to $DXY. Here is the path that I think it will take. First, I think we're going to get to the .382 fib (~1838), then we're going to go back up to the .236 fib (~1929), and then back down to complete the 50% retrace at the .5 fib (~1765). From there, we should move up substantially. This lines up nicely with $SLV as well. That's my best guess based on what I see! (Not financial advice!)
OANDA:XAUUSD
by rmajoran