AUD/NZD WEEKLY CHANNEL RESISTANCE AND STRUCTUREThe pair has reached the resistance area of a massive downward channel it was trading in for the last 3 years.
The resistance line is porous, and is more of an area though, which can be seen by the spikes of the weekly candle shadows spanning way outside the channel borders. The horizontal structure to the left helps us determine the potential area of resistance where the upward move can be reversed.
I will be watching the price action closely to determine entry points.
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Wish you all best of luck in your trading!
Timeframe
DFT Daily Mapping - Last long target for bullish scenarioDaily mapping of the price, we map, not predict in Multi UT analysis ;)
Some rules to understand the strategy:
- shade of red trends = primary (the black one are secondary trends)
- Redish trends is primary as medium investors are arbitring short/long term investors decisions.
Div: Trend vs demand/supply
-Ascending trends with red cloud is most likely tested twice before break up.
-Descending trends with green cloud is most likely tested twice before break up.
Conv: Trend vs demand/supply
-Ascending trends with green cloud doesn't need retest to break up.
-Descending trends with red cloud doesn't need retest to break down.
red cloud = supply area
green cloud = demand area
Current idea:
The original idea was the retest of the daily MA128 with this anti spread zig zag pattern which was predicted and finally occured...
ibb.co
After:
The point now if the market still want to go north (despite no HH to valid yet a new bull run), is to target the weekly medium term investors MA before retesting new high.
Gl
The DECISIVE point in ETH.The decisive point for ETH is getting close! Maybe we will do another trade here, depending on what the price will do. Last time we bought ETH at U$ 175 (harami above 38.2% fib retracement and above purple trendline), and it reached its main target, the 61.8% fib retracement, the U$ 215. If you missed our previous trade, I'll put my entry analysis bellow, and follow me to keep in touch with our trades and my daily analysis.
Now, as I’ve been saying for a few days, ETH is sleeping, and maybe it will wake up in the next days, but for now there’s nothing for us to do. I’m very clear about my trading style with you, I’m a swing trader and I like to surf a whole trend. My trades usually last for days, and I don’t do daytrade. I always try to catch the big move instead of trying to make money from the noises of the market.
Now it’s time to wait for a sign, be it bullish or bearish. There’re reasons for the bulls to enter the game, as we can see in the chart the price seems to respect some supports, like the black line or the purple trendline. Let’s look the hourly chart now:
The price respected the “support zone” and did a successful double bottom. I said in my last analysis, day traders could’ve made a nice trade here, if you missed my last analysis, the link is bellow too.
The only thing that bugs me and make me think that a stronger pullback can come is the low volume from the last few days and the weekly chart. Let’s take a look here:
You see, if the bulls don’t react in next few days, the bears can make this fight much more difficult, and the price could easily drop to the U$ 160 again, so the next days will be decisive.
TCEHY - A view of an old school trader.As another request, I’ll do an analysis of TCEHY today. Well, we can say that Tencent is doing what was expected to do, after it hit the “resistance zone” is now dropping and it seems it find a bottom at the light blue line in the chart, which is the previous top zone.
TCEHY is doing some very precise and technical moves here, and now it did a bullish pattern, a downside tasuki gap, maybe? Or bullish engulf? Don’t know, and don’t matter really.
Just be aware, because if it loses this light blue line the stock may face some trouble. Let’s see the hourly chart for some clues:
The price lost an upward trendline (blue line), and it’s in a support zone, as it is in the daily chart. The rule here is the same, if it loses that blue line, expect it will seek for the lowers supports. Look at the daily chart again, these supports may be the thin pink line or even that thick red line.
Personally, I think there’re more interesting stuff to trade right now, but if you want to buy Tencent, you can, but be aware of the low volume today and most important, the “resistance zone”.
Trade well my friends and be safe.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
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A SNIPER'S RISK MANAGEMENT TECHNIQUEAs expected, LTC is still struggling in the 38.2% fib retracement zone. We are with some cool profits in LTC, since our last trade was very successful (check the link of our entry point in the end of this analysis). Also, follow me to keep in touch with our trades, and be part of our community, I do daily analysis here, always updating you about what I’m doing.
I’m very honest with you, and who follows me knows that I’m keeping some LTC, as I said in previous analysis (also, link bellow), and now it’s doing some interesting moves. I maintain what I said in my previous LTC analysis, I believe there’s nothing to worry here, especially if the price is above that thin blue line (previous top).
If you like to improve your analysis, you can look the hourly chart:
It seems LTC did a double bottom in a support zone, and that’s good for the bulls! If you like, you can set a stop gain under that red line, and if it loses it, just take your profits. As long the price is above that level, we’re good.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
In the SNIPER'S SIGHTS.So, ETH is doing some nice and very technical moves here. I sold my position in ETH a few days ago, after our last great trade (check it at the end of this analysis), and now I’m waiting for the pullback. Follow me to keep in touch with our trades, I do daily analysis here. We bought ETH near U$ 175 and it reached our main target, U$ 215, which is a fib retracement.
It practically touched the purple trendline, but the bulls are strong here, and now it’s back at the U$ 205. I’m still waiting for a real pullback, because I’m still not comfortable with this. In any case, let’s see how the hourly chart is behaving:
Now that’s interesting! A double bottom just above a support, with a pullback to the black line (top between the bottoms), that’s classical. I usually don’t like to do fast trades or daytrade, but I’m seriously thinking in buying at least a little right now (maybe ¼ of my regular positions). But I don’t know, that kind of trade just isn’t my style, who follows me know this. I like trades that lasts for days, even weeks sometimes, and catch a big movement.
ETH reached our main target and now there’s not much to do. If you are a sniper, like me, you are patiently waiting, no stress and no rush. The risk/reward relationship is not good for any trade right now, be it long or short, and I don’t think it’s worth. There are some opportunities if you are a faster trader, and I wish you luck, but as I said, not my style. I prefer to make few awesome trades that a lot of regular trades, and I trade only when I’m absolutely confidant.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
THE SNIPER TRADER STRATEGY.So, BTC is struggling a lot now, as the bulls lack the strength to break the U$ 9.2k and the bears don’t have the strength to sink the prices under U$ 8.6k.
BTC was very easy to trade about 2 weeks ago and gave us a fabulous trade recently. We bought it just near the U$ 7k and sold it near U$ 9.2k, a trade that lasted 9 days. If you missed it or want to understand how we did it, I’ll put the link of our entry at the end of this analysis, there, you’ll find the explanation. Also, follow me to keep in touch with our daily analysis, and be part of our community.
Now I don’t see a clear and comfortable point to trade BTC, as the daily chart is too stressed in my opinion, and the risk/reward relationship for any trade, be it long or short, is not the best. So, we are still waiting, like true snipers, with no rush, for the next trade. The secret is to be patient.
It’s always good to look in the hourly chart for more clues:
Here we can see how intense the struggle is. It seems that we have here a descending triangle, theoretically is a continuity pattern, and if you like short trades or are a daytrader, you can work with that. I believe that a greater pullback in the daily chart will only occur if the price loses the U$ 8.6k (red line).
Personally, I’m waiting for a pullback in the daily chart, ideally it would be back to U$ 7.5k or back to that purple trend line, but we must have a plan B, and work with the possibility that this pullback may never happen. What we should do if the bulls dominate here? In that case, we still will need a pullback, but in a different scenario, because our main target could be the U$ 20k again.
Look at the weekly chart:
As I said in my last BTC analysis (BTC at U$ 55k? Is it possible? – link bellow), there’s a real chance that the bulls will destroy this descending channel and change the bearish trend. Pay attention at the volume, it’s different from the last bullish rally, evidenced by the purple rectangle.
In that case, BTC will have what it takes to test the U$ 14k top, and probably to break it, if the bulls have the strength, and the only resistance remaining will be the U$ 20k.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
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The bears came! But they are still too weak to my taste.Today’s movement was exactly what I expected from a bear reaction, as I said in my last analysis, in case you missed it, here’s the link:
Now, although it was expected, I admit that I’m a little disappointed with the bear’s reaction here, I mean, they even couldn’t manage to touch the 21 ema today. SPX lost some immediate support, yes, and that’s an alert for those who are long, but that’s it. I overestimated them, but that's ok. Let’s see the hourly chart:
I think we can consider there’s a H&S here, that was triggered through a gap. Now that’s interesting. In the daily chart, the 21 ema is at 2797 right now, and the target for this H&S in the hourly chart is 2792, the same point that served as support in the past, as I evidenced with a black arrow in the chart.
So, the 2790 – 2800 zone is a good candidate for a support. Although I’m a little skeptical here (I really wish I could buy it near the 2640), we should stick to the technique. The bulls and the bears should watch out, and tomorrow we will see how this will work out.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
BTCUSD - Thank you for this AMAZING trade!Ok, now I’m completely out of BTCUSD, I just sold my remaining position. In case you missed my last call on BTC, you can check it here, and follow me for more updates:
Last call:
The operation gave as a total profit of 17%. Not bad. I believe BTC might go even higher now, but I’m just trading accordingly to my technique. Just like Livermore said: "There is a time to go long. There is a time to go short. And there is a time to go fishing."
I set the stop gain at the hourly chart, if it loses the previous candle’s low, I would sell. Check it here:
Also, at the daily chart, BTC just reached that black line, which served as a support in the past (green rectangles) and is close to the U$ 9.2k. I’m out now, just waiting for the next move.
Congratulations for those who did catch this trade. Now let’s wait for the next one. Just be patient, like a sniper.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
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- Chart patterns with statistics. *
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NAT: $8 Target ($10 Short Potential) --> $15 LongFirst off, don't take anything I say seriously or at face value. As always, my analysis are off opinion basis. That being said, let us get into some of my insights. I believe that, conservatively a short $8 target for NAT is likely to happen, and there seems to be bullish support for a $10 short as well. In terms of long position, it could cross a $15 price threshold within two or so years. The short potential is mainly as a result of the earnings call that is upcoming, and alot is relying on a positive call or huge surge in demand post covid19 crisis. I would classify this as medium risk, and think a short hold may be better then long because you can reinvest in some higher growth stocks afterwards. Although, I am not going to say I am certain on that statement. Only time will tell.
Bitcoin might test lower targetsBitcoin might test lower targets, because buyers consume all gas, and also price is at spot where price has to switched to sellers. After sellers will show how strong they are, we'll decide later if we're gonna stay in this trade.
This is multi-timeframe analysis. Short term sell is h1 and lowerest sell is between h1 and h4 based on our strategy.
On the other side, if sellers will not push price lower as expected on higher timeframe, then bullish sign might continue, if price will break through resistance, you can follow our previous analysis - expected channel touch.
At the moment we're looking for potential sell by following arrows.
Important is also H4 closing and M15 momentum flow
Elitefxacademy
Why I'm Betting Long on SiacoinFirst off, don't take anything I say seriously, as this is on opinion basis. That being said, let us get into my insights. 2018, I was pretty confident on Siacoin, and short target-wise, it wasn't that bad. It reached a peak of being in the top 50's, top 30's list for cryptocurrencies. However, Siacoin have went down to #64 and is a dramatically lower price compared to its peak. Yes, the crypto market crashed. However, in comparison it haven't met many market expectations. That being said, Siacoin has potential. People seem to be adopting "Proof of Space" algorithms, and the demand for Siacoin's tech seems to be increasing in that manner. Also, it seems like it does have a potential for a bull run this quarter. It is medium to high risk based off of some of its past performance, but I would say it is closer to medium risk rather then high given the nature of other altcoins out there. Siacoin does have some merits usecase wise, and it doesn't seem to be a bad cryptocurrency or blockchain company. Infact, it is worth being on your watchlist.
BTC and the bulls – Road to U$ 9.2k?So BTC gave us an obvious trade recently, and now is doing what was expected to do, as I said in my last analysis. I warned about how strained the chart was in 60 minutes timeframe, and we should expect some correction. Now the price is “resting” a little, letting the 21 ema get closer and closer.
After the harami pattern (could be a harami-cross too, if you like), BTC triggered a nice long operation, with a very comfortable risk/gain relationship. I wouldn’t buy now, if I was out, but it’s not time to go short either. It’s a bullish trend, and BTC lacks any bearish pattern here. It’s time to manage your position, or even take your profit, if you like faster trades.
We have 3 supports here: The U$ 7306 (previous top, blue line); The 21 ema; and the upward trendline (purple).
Maybe the U$ 8426 could serve as a resistance (black line), because it did support the prices in the past (green rectangles), but I’m still not sure. The U$ 9.2k seems to be a more realistic target for BTC right now.
Hope it helps, thank you!
🤘🏻 General Trading Methods 🤘🏻👋🏻Hello, my dear-dear friends! 👋🏻
👉🏻The time frame, on which you'll trade is very important parameter, on which depends the number of transactions.
First of all, you need to decide: 💡how much time you can devote to trading at the markets.⏳
🤜🏻There are 3 types of trading methods:
📌long-term,
📌medium-term,
📌 short-term.
⭐Long-term trading - you can make from one to several transactions per month or investing your money for a period of one year.
☑ For long-term trading, you can use charts with a time frame of 1-4 hours or more.
⭐Medium-term trading - you can make several transactions a week.
☑ Medium-term trading usually uses charts from 5 minutes to 1 hour.
⭐Short-term trading - you can make transactions within one business day.
☑For short-term trading, used charts up to 1 hour.
🧐What method choose for yourself?
👉🏻It's all depends on you, how much time you will devote to trade ⏳, on cash capital 💰 and on your goals ⛳.
📌With an increase of time frame equirements for cash capital increase, as a rule, the profit margins decrease, risks decrease, the time required for trading decreases, the number of transactions is also reduced.
🤜🏻You have to make your choice yourself. 💪🏻
🤗 I hope my post helped you to make right decisions. 😘
😚Stay with me, I’ll prepare for you much more different useful and interesting educational posts. 😘
✔Subscribe and don’t forget put me like! 👄
Your Rocket Bomb🚀💣
Bitcoin is ready for up BREAKOUT...?There's a 70% chance to up break on the daily chart and if you look below all timeframe for BITCOIN. We can conclude that bitcoin is positive.
---> Shortly I will update in the timeline, where to buy or sell bitcoin....
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the hourly chart is positive for BITCOIN:
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30min chart is also positive because of the breakup channel.
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Wave theory on the daily chart does still not confirm for downward move:
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Wating for breaking range and created tails.
Waiting for the BIG move ready soon on the weekly chart.
{SWC} FBM KLCI/Malaysia 30, Closing Bell 14th Apr 2020Thank you for your continued support! :)
This Monday, the FBM KLCI main index closed 0.11% or 1.47 points lower. HKEX is closed for Easter Monday, and the US markets don't open until at night XD. Overall, KLCI was in sideway movement today.
The bears teased the 1350-1353 region, but a quick support was found as the KLCI touched today's lowest point at 1352.78, leaving a long lower shadow on the candle. On the 15 minutes chart, we further project a series of intraday fibonacci key levels and found that the 38% at 1359.78 was putting up some resistance as the KLCI tried to move higher in the afternon. Will the 1350-1353 support hold next time?
Stay safe, everyone :)