EOS - LONG EARLY APRILHopped onto the charts earlier in the morning. Started out with basic support and resistance zones and noticed an uptrend. While looking at the uptrend i noticed a inverted head and shoulders.
Using that indicator and trading with the trend, I was able to find a nice trade which although it hasn't hit my take profit just yet, it did play out quite quickly.
Schoolofsparta
XBTUSD Potential set up for a Long!!! Will we see $9000 soon ???If we see a close above previous structure @6850 on the daily i think it will break out of this triangle and we will see $9000 again
as long a the trend holds ill stay in a long position if not i think we will see $5500 again first.
Bitcoin XBTUSD $7k breakout?!Bitcoin - 4hr - BitMex(XBTUSD)
BTC has been creating Higher-lows and respecting the short term uptrend, since Mach 16.
Resistance was found at $7k tested multiple times and was rejected until today, when price was squeezed and is starting to creep above $7k.
BTC has had a 4hr close above $7k which is the first step towards a breakout to the upside.
I will be looking for a long opportunity from a retest of 7k, to confirm that previous resistance is now support. (wicks to the downside - bullhammer or bullish engulfing from this level - morning star)
The target I am aiming for will be just below $7,700. $7,700 is previous structure/supply and close to 61.8% Fibonacci retracement level.
Stop loss placement for this trade will be clear after the retest of $7k happens.
Providing the retest of $7k holds and gives some clear structure for a stop loss placement the trade could provide a 2.5:1 Risk reward ratio.
If price retests $7k and it does not hold, I will not be entering this trade.
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TRXBTC MBA Trading Academy T/A FridaysNew structure forming in a bullish direction breaking out of trendline with HHs and HLs.
Waiting now for a retrace to support and form another HL and wait for a confirmation candle on support being held. Once held entry at .00000180
Entry at .00000180 in on course to bounce off center bollinger bands, extra indication as it heads back to support and confirm an entry.
First TP 50% at previous supply and if hit will move SL into no risk trade
Last TP higher again at previous supply.
If entry goes south then I am confident it will respect new trendline and let it play out, SL below previous structure.
Expect entry in the next 24 hrs
Expect trade to play out over the next 5 days
XRP BTC MBA Trading Academy T/A FridaysHave located a potential bear flag on the 4 hourly, although daily momentum is heading down with LLs and LHs.
Waiting to see if the daily EQ can hold. If we break out of this bear flag to have a shot at the next supply zone.
If daily EQ cannot hold and we break below then i am looking at following trend down to the next demand zone.
Either way i will need a break and retest with bullish or bearish momentum depending on which way we break to confirm my entry for either scenario.
Stop loss will be set above / below previous market structure once we get an entry.
I will have a total of 2 Take Profits for both trades, one roughly in the middle with my final at supply or demand.
Trade should take approx a day or 2 to confirm an entry.
I am expecting 4-6 days for trade to play out so around a week in total from time of writing.
Chart by Phil Roberts.
ICXBTC - wedge forming shorterm longsimple trade
downward wedge/ bull flag forming currently retesting daily trendline
buystop set above 1hr resistance line SL below 4hr resistance
1st TP at previous wicks, last TP at 4hr resistance
QLC Chain QLC/BTC Daily Binance AnalysisQLC Chain QLC/BTC Daily Binance Analysis
QLC Ranging between 120-235 satts respecting both levels.
Looking for a swing from the bottom of the current channel, to the top when the short term down trend is broken.
Because QLC is such a low satt coin, position size would be very small and only 0.5% Risk on this position, if a trade presents itself.
Looking for an entry off a clean break and retest of trend with an obvious Higher-Low to be made.
The market structure of this is currently still bearish, however I will be watching for a change as price is squeezed against the current downtrend.
Only if the change in structure is clear will I take this trade.
Things to consider;
- QLC has been trending down for 56 days since the 6th of Feb 2020.
- Wicks to the downside every time price comes close to the current support around 120 satt level.
- RSI starting to structure up as price beings to squeeze.
- MACD crossed to the upside with plenty of room to move.
- Recent move closed above middle Bollinger Band.
Risk management;
This trade would be a very small position due to the risk of low satt coins.
Also there are large wicks in both directions that could potentially stop you out of a position easily.
To help offset this risk I would be moving stops to break even if we reach Take Profit level 1.
Time frame;
Due to the low volume of this coin and judging based of past moves, if a trade presented itself here on a breakout,
I would expect it to take approximately 35 days. This is not a short term trade.
LINKBTC - Short term long 1hr TFRetraced to 61.8 and closed above,
Currently broken out of down trend
next resistance is at 0.00034128 which is just above where i'd enter. so placing a buy stop a bit above resistance
1 Take profit at 0.00036344,
Last TP is a trailing TP following at -1% to catch any lucky dip pumps.
RR for the trade is 2.0 expect the trade to play out by tonight, mid morning tomorrow at the latest
Watching to see if Elliots waves starts to play out as well, may lead to further potential trades
ETHUSD MONDAY REVIEW.ETHUSD Monday market review.
Joining SOS Donny does a complete market review on Monday nights.
Getting in before Donny to gauge how my knowledge is growing within the trade space.
ENJBTC 4H Long - SOS TA Fridays 28/03Change in market structure
61.8 fib held
Waiting for a break and retest of the current 4H resistance level for long opportunities to the daily resistance
I would look to take 25% of my position off at TP's 1 and 2, with the last 50% at final TP.
I'd expect this move to take from 2-5 days depending on how BTC is moving, but ENJ is known to pump quite quickly sometimes so may happen quicker.
Conversely, if price starts to go down, I would be looking for short opportunities once we break the 4H support level.
ETCBTC 240 BinanceEthereum Classic / BTC 240 Binance
ETC testing the bottom of the current range, while respecting the short term down trend.
As price gets squeezed here I will be watching for a potential long opportunity if we break trend and create a higher low on the retest.
(If price breaks to the down side there will be no trade)
Will be watching for 2 things on the break, volume and bullish candlestick structure. For example a bullhammer to break trend, followed by a small pull back and a bullish engulfing. (which would be my entry signal)
If the break is weak, with low volume and wicks to the upside, there will be no entry.
If the retest is still towards the bottom of this range it will give a good RRR to enter, around 3.5:1.
Time frame: I think this trade could take 9-10 days to complete.
I will manage my risk on the trade by moving my stop to break even as price reaches take profit 1.
XTZBTC - SOS TA Fridays 28/3/20I will enter this trade if price breaks out of this descending triangle with strong bullish candles (bullish engulfing, bull hammer) or if it breaks out and has a small retrace for confirmation.
My first profit target is at 38.2%, then at 23.6% (resistance at both these levels).
This may take a day or 2 to present a good entry, then 5-6 days to hit my first target.
AMD Review- Broke first trend line. Now in descending wedge pattern. Candle closed below support at 61.8% FIBS level, current candle pulled back but hasn't closed yet.
- If 61.8% support does not hold, the descending wedge will continue to 78.6% FIBS support (first red circle). This area will see price action (break up or down) from descending wedge. Area also coincides with earlier trend line. Would be a good entry if we weren't having a pandemic. If it holds, wait for multiple bounces off of the trend line and signs of reversal before placing buy orders. A break and close above 61.8% resistance would be a good indicator.
- Break and close below 78.6% FIBS support and trend line would signal a 100% retrace. Wouldn't be a crazy thing to happen given the current state of the market. Possible entry position off of the 100% retrace support line. Same rules apply as entry positions off 78.6%. Wait for multiple bounces off trend line and support. Could be very dependant on how this virus plays out.
- If 100% retrace support and trend line don't hold then it will likely fall to "Pandemic support". This is a strong support with multiple bounces and coincides with a long-term trend line. Depending on the timing (how long Corona hangs around for) this would be a very attractive entry point for investors. Again, wait for reversal patterns (big candle wicks to the downside, double bottom, inverse head and shoulders, etc.) before entering trade. Unless you're feeling frisky.
LINKBTC - Long Trade (Assuming BTC behaves for a while)Link has respected the daily uptrend, broke through the downtrend with a bullish engulfing.
Large target given the volatility of btc lately.
Deemed a higher risk trade so only 0.5% of acc risk.
I Will have a trailing stop set up after each Take profit hit.
Last TP make also be set as a trailing TP depending how trade goes
DGDBTC - Long trade 4hr timeframeLong trade within the trend, based on my previous TA about the cup and handle, Going with the philosophy "its right until its not"
Hit the previous demand block and also stayed above daily support, long to upper trend line with TP's along the way.
Link USD Tripple top and short opportunityLinkUSD pair has formed a tripple top, with multiple points of support and resistance converging. Should there be a break in the swing low, significant downside might be expected.
ARKBTC BullishLooking for entries once we break out of this resistance zone and get another touch on the trend line to confirm it is valid
We have broken out of a downtrend and we are forming new market structure
Broke out of descending channel and tested as support
10MA held as support and 50MA just crossed above the 200
I would be looking to take profit at the 3 marked levels.
I would look to exit this early if we failed to make higher highs or broke the trendline
Time: 1-3 weeks
BNBBTC - TA Fridays 06/03/2020Ascending triangle into this resistance zone. If we have some solid bullish candles closing above this zone, look to enter long (if the triangle breaks, start looking for potential shorts instead).
Stop loss should be below the zone in case we have a little pullback/wicks to the downside.
First take profit is at daily resistance (2460), then next target is previous high (2570).
I would exit this trade early if the purple trendline broke with bearish candles (crossing below the 30EMA would be even more confirmation to get out).
This may take a day or two to present solid entry opportunities, and the trade itself could take 3-4 days to hit my first target.
