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BTGUSD Next Short Set-Up from HereBTGUSD Next Short Set-Up from Here The wider spread compared to BCHUSD has seen volume shrink away on this pair and swell on BCH. But it's still a good shorting vehicle nevertheless. It halved from 26 to 13 in a matter of days for example. "No coin is ever too low to sell" - to update a W D Gann quote for the 21st century. The downtrend is still strong here and the last 3 rallies have all failed at the upper dynamic. BTG remains vulnerable whilst trapped below this dominant line. Once 17.5 breaks it should fall away to the 13.2-12.1 range. And once 12 breaks the next obvious downside target becomes 6.5-6.0 Will follow Bitcoin around as usual, just moves faster. Not ready to short again yet but worth setting an alert for maybe.
B
by sumastardon
ETHBTC Target Achieved - Next Short Set-Up from HereETHBTC This has been a good short through most of August, down 20%+ from the 542 break level to 426 now. There was a second chance to short again from the lower green arrow as it broke the continuation pattern at 46 which has yielded close to 10% this week. But it's making a little double bottom here and the near term downside target has been touched precisely so it's time to close out again if you haven't already done so. Next short opportunity comes on a break below 4165 looking for 3440 initially and then 2345
by sumastardon
NEOUSD Next Short Set-Up From HereNEOUSD Update and Next Trade Points It's been a week since the last scan across the top 20 or so coins. A lot has happened in 7/8 days. Remember that no coin is too low to sell and likelwise in a bull market no coin is too high to buy. Remember also that we play a game of probability. Some play momentum and volatility and some play hunches and mistaken beliefs. Few are right. The majority are wrong - up to 95% of retail currency traders lose money. (If currency trading was easy, we'd be doing it here a lot more. It isn't. So we don't) So we know the odds are stacked against from the outset. With this is mind is it 'easier' to sell the dust and forget about the diamond - or are you so damn good you can find 'the one' ? If it's the latter please share ; ) Until that day arrives we are probably better to try nailing the losers. And there have been some good ones over the last week. Here are some: they will follow Bitcoin as usual. They will rally more than the great death-star itself and fall more when Bitcoin fails. Some offering fantastic gearing opportunities without the need to resort to excessive margin trading. NEOUSD This was a sell from 20.87 and weak whilst trapped below 21 with a downside target at 13. It fell to 13.64 before rallying. That's a big double bottom at 13.25 in fact. But the trend is still neagtive despite the 50% counter rally since. To break free of the relentless bear prssure here it will need Bitcoin's help to arrive soon now. In it's continuing absence NEO will break the the little dynamic under price now and retst the lows at 13.64-13.25. A decent short when it breaks . But not until. It's holding up with Bitcoin for now. An eventual break below 13 here will be another extremely bearish signal pointing to further sustained weakness back to the spike low at 3.79. Lesser potential support centered around 6 may serve to induce a counter rally of 50% as we are seeing now. Big moves in little numbers.
BITFINEX:NEOUSDShort
by sumastardon
GBPUSD:Look to sell the Counter Rally in GBP before next declineGBPUSD Sterling has spent all of August in free-fall. After breaking below the support line at 1.3029 it's finished the week right on the next line of support at 1.2766 after a low on Friday at 1.2723 . It should counter-rally some more from here, potentially as high as 1.2928-1.2957 at best before it comes off again back to current levels at least. On the downside any failure on Monday to hold up from 1.2766 and from 1.2720 at the lowest will trigger further near term weakness back to 1.2596. Worth a short if we see it happen with stops above 1.2770. Otherwise can look to short again from 1.2928-1.2957 range, as above. * For fastest real-time updates please see link to Global Markets at top left of main page.
Short
by sumastardon
BTCUSD: Bitcoin Saturday Trade Set-Ups for the Aficionado Bitcoin Saturday Trade Set-Ups for the Aficionado BTCUSDT BTCUSD: Bitcoin Saturday Trades for Die-Hards A slow overnight session has given way to a slow start to Saturday trading. Bitcoin has held up though and if still long here is about 80 points up on the last entry at 7375. Looks like we're stuck with scalping still for now looking at the lack of interest in Europe this morning. The tight range and lack of volume suggests we're going to have to be happy enough with 90 to 200 point scalps at best this weekend. Am raising the stop to 7449 for now on rest of this long position and looking for some interest to pick up later when US opens. If it breaks the stop in the meantime will be looking to buy again off the dynamic with stop about 20 lower. Alternatively can raise the stop to 7409 for smaller profit if hit and run it, looking for 7530-7540 initially and then 7652 once 7540 can be broken above. Got two thirds of this long left. Maybe will do one third and one third as above...in doubt so doing both is easiest way to handle this predicament for now. On the downside Bitcoin has to break below 7410 on Tether feed to turn negative again - can reverse short from this point if looking to trade the next move, which should bring it down to 7360 initially where it will likely bounce again unless we see some decent volume building fast behind it (less likely on a weekend but still possible if whales are around - where are they all? They used come out to feed on weekends once upon a time. Been a long time.) After bouncing again at 7360 back towards the underside of the dynamic at best it should then fall back to 7300-7280 at least and if not to 7211. Depends on volumes really. This pattern looks to be just another continuation pattern within the overall downtrend so far. Although it's near term mildly positive the chart is still saying it has to come lower yet before we can call a real bottom. Any break below 7211 offers a bigger short potential and can be followed back to 6815-6743. 20:37 Bst 15:37 Est Friday Bitcoin Bitmex Update. There was no volume on the break higher but it was still worth following for 100 -140 points from 7400 as it broke the upper dynamic. Now it's come back to test the same dynamic from above. Should hold here and gives a chance to get long at low risk because the stop is close by. It may not work. But the loss is small if so. Stops below 7355 - can put an order in at 7375 - loss 20 . For Bitcoin updates in real-time please check the link, top-left of main page. Aficionados only ; ) And if you find these updates interesting from time to time please hit that button. It's the only way there is of knowing if it's worth carrying on updating via Tv. Thanks
Long
by sumastardon
3
Bitcoin: BTCUSD Bitcoin Trade Set-Ups from HereBitcoin Bitmex Chart Update XBT After 36 hours of consolidation Bitcoin has held above the key 7265 level after a spike low at 7243 on this feed and since then has survived a couple more retests. It's not ready to fall away yet therefore. Looks as if it will make another attempt to touch 7615 and maybe spike into the uppermost parallel again as yesterday - this would take it to the the next line of resistance at 7675 at best before it comes off again - unless we see volume rising fast again at that point. On Bitmex feed it's still effectively stuck in the range bounded by three lines of important resistance at 7615 and 7683 and 7741 and one line of support at 7265, which now needs extending to cover the spike low. Whilst inside the range it looks like scalping opportunities at best for now. Buy on dips towards the 7355 nearest support line with stops just under 7350 looks to be the best option for those looking to trade this inside the range from here. For others, an eventual break either side of the range should be worth following more aggressively. Has to break above 7750 on high volume to follow long looking for 8600. And on the downside has to break below 7240 on rising volumes for next good shorting opportunity, looking for a retest if 6819-6792 range where it should bounce again if tested. But until then it looks like scalping opportunities inside the range. For more active traders: For Bitcoin updates in real-time please see link at top left of main page For Continuity: 18th July - Bitcoin Chart Updates (For all updates since last Bitcoin Update on Tv a month ago can be checked via link at top left of main page) This is a long update - you can skip most of the BS below by scrolling down to the final paragraph. We're at a tricky point, or getting very close to it now. So have tried to give reasoning as best as possible below. Futures Bitcoin held up just above the 7266 support/stop line and then pushed nearly 300 points higher still to a 7560 high overnight before falling away again. The upside target on this feed remains the 7615-7756 range but must admit to not really liking the pattern it's making right now however - am thinking of raising the stop to 7419 - which may well get taken. Otherwise stop has to remain under the 7266 line here, as overnight. Looking for clues to the next move from here. It looks like a grind higher so far, rather than another big volume green candle about to come. Keeping an eye on the volume itself will help to confirm or negate this. Without it Bitcoin still stands a chance of spiking to the 7615 line in the nearterm but is likely to come off again if it makes it there - unless volume is rising very fast underneath it. So upside is 180 or so points probably in the near term and downside is 180 or so to 7266. So as risk/reward ratio is now only 'evens' either side, staying with this long is slowly turning into an act of bravery and defiance over mere calculation at this point in the game. So caution is warranted again here. To add to overhead resistance there's a spooky set of upper parallels forming at the highs overnight. Was thinking these were a case of pareidolia - the invisible spectre that sits at all TA's tables alongside them. It's bad enough to see things that aren't really there without spreading them around others. It's like spreading a virus ! Who needs it? (Unless it's a pattern spotted that warrants further investigation via the chat room - which is what we're all here for in the end, presumably.) Anyway, these two upper parallels do look as if they are in play now and are holding back rally attempts quite effectively so far. The volume on Tether is showing roughly half the volume bar to left of chart, the start of the last decent counter rally. It implies that the rally is running out of upside interest from here. For more please check the link
BITMEX:XBT
by sumastardon
8
WEDGE UP OR DOWN?We've seen situations where it wedges up and it PUMPS or the classic break & retrace. I'd be more bullish on a downward wedge but, it LOOKS like we're gonna retrace a bit. Anything could happen and the market will do what it does. This is just one perspective of MANY possible outcomes. My level for entry is 6430~ but, ladder your stops and be sure to choose proper risk management. It's a rather huge wedge so if 6430 doesn't hold then, we gotta hope 6200 & 6100 hold.
by hossdelgado
USOIL: WTI June 3 Trade Points For Week AheadWTI USOIL: June 3rd Trade Points for Week Ahead Good call/bad call last week here. Was looking to close out the short as the week began at around the 66.48 line and then reversed long from here looking for 69.48. A forlorn hope.The rally got as high as 68.63 before failing away to end the week 1 pip below the next key support at 65.55 - and busted out the long stop just under 66.47 for a few pips loss as it fell, before a little bear closing at the end of the week to finish at 65.69. This price action has left WTI on a knife edge, saved by the closing bell at the downside limit and in desperate need of buyers right here to avoid a another plunge to 61.92 initially. Any fall below 65.40 can be shorted using a stop above the 66.48 line to begin with looking for 61.92 initial downside..Any subsequent fall below here will signal further weakness to 60.21 and later to 58.25 as we move through the summer months Looking at upside potential from here, the 65.55-65.50 level is critical to the medium term trend. Bulls know full well this is their last stand for the summer ahead. It may well try to rally away from here but am not looking to buy it again after the pattern it's made since the last rally attempt. But it may tempt contarians...in which case please use a stop only 10 or so pips under the lows of last week and be ready to reverse short if broken. Am hoping for a good break lower here - but it may defy us a while longer yet if it can find some respite right here. If so, be prepared wait a little longer still or perhaps consider setting an alert
TVC:USOILShort
by sumastardon
1
XRPUSD Ripple: Take nearterm Profits/Next Long Set-UpSaturday Update Take Profits/Next Long Set-Up Ripple has had a nice break since busting the neck-line and is now testing the first line of reisistance at .6493 It really needs Bitcoin to break above 7735 for it to power ahead from here to the next resistance line at 6921. Can take profits here and get ready to go long again once .65 is taken back by the bulls and then join again with stops a little below the same line once broken. 11:39gmt 06:39est Friday Making a little reverse head and shoulders quite similar to Bitcoin. Has 8 points upside when and if it breaks - which is a little more than Bitcoin's likely upside potential, even if the RHS is successful later on today on the daddy. *For updates in real-time this weekend please check link at top-left of main page
BITSTAMP:XRPUSDLong
by sumastardon
2