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S&P 500 Index SPX Next Buy and Sell Points TodayS&P 500 Index SPX Next Buy and Sell Points Today A poor call on this index yesterday led to the loss of some 12 -15 points as the buy point at 2627 was broken and the stop at 2614 triggered. It wiped out the 6 point win earlier but at least the 60 point win on the short on Moday and the next 60 points or so from the long on Tuesday means the point tally for the week is still positive, if a little depleted. Yesterday's price action has driven the S&P to a new closing low, taking it back to fill the little gap that shows on this chart at 2584. A 10% move from the top = 2585, the low yesterday was 2580. So long as this low holds out today on any retest this corrrection remains a standard deviation - but the low at 2580 must stick now for the medium term trend to stay positive from here - any fall below 2580 by more than 4 points will tip this index back into bear territory and force it lower to 2543 (first short) and then if this level breaks to 2488 (second short). On the upside, whilst stuck within the range and below 2619 it's not giving a strong enough signal to trigger a trade...it has to break above here and hold there to trigger a rally to 2668 which should be worth following with stops just under 2600. Alternatively can be bought at 2607 current levels with stops below 2600 and added to once 2619 is broken above. This is higher risk but also higher reward. Others will prefer to wait for next signal to trigger before entering positions.
SP:SPX
by sumastardon
1
Netflix: NFLX Potential Short then long set-upNETFLIX NFLX Buy Neflix and Chill - but where? Volatility returning to the market is throwing up some interesting short term trading opportunites, with Netflix being a prime example... The nearest support lies at 261. If this fails today it should open up a shorting opportunity back to 228-245 range. The 245 level is important, being the start of the gap...should tghis level then fail today it opens a second short back to 228-227 where it should rally from so can consider reversing the short here with stops below 226. And if wrong here, and there is no rally and 226 then fails it opens yet another shorting opportunity back to 204-203 where it will definitely bounce away again looking for a retest of the highs again.
NASDAQ:NFLX
by sumastardon
S&P 500 Index: SPX Next Buy and Sell Points TodayS&P 500 Index Update Next buy and Sell Points Yesterday the S&P fell 5 points shy of the next target, busting out the next long as support and stops just under the 2715 break line were hit and so turning a 12 point profit into a 2 or 3 point loss. Not so good. It looks as if it will fall further now to retest 2669 and maybe spike as low as 2661 level but should bounce from there at lowest if it is to show stabilty today. if wrong and this 2661 level fails to hold up later it will likely fall away further to 2626-2600 range where it becomes a buy again with stops below 2590. So far this decline remains a standard correction or deviation of 10% - 10% off the top = 2584, the low was 2592 - and it can at worst fall 11% to 2555 but no lower if this is to remain a 'standard' correction. Should this level fail at any point this week it will tip this index into serious bear territory - the decline will then likely extend to 2584, then to 2545 and then to 2488 where would look to buy once more if this kind of price action unfolds from here. Don't think it will so far, but we still need a plan B here, just in case.
SP:SPX
by sumastardon
Bitcoin: BTCUSD Next Buy and Sell Points todayBitcoin BTCUSD Update Next Buy and Sell Points We left this overnight waiting for the 4th break lower to hopefully develop a double bottom to show loss of downside momentum and looking for the rally to recommence from there. Interestingly - for some at least - the low was actually also the tiniest of gaps which was created (green arrow) on exit of the last smaller continuation pattern from the night before last - so small...but it got filled precisiely. So the tiniest of gaps was not 'forgotten' - Bitcoin came back and painstakingly filled that gap, and then with the crack in the wall filled, it moved on up again. Where this kind of behaviour is quite normal in a major market index like the Dow (which closes each day to create gaps) it is highly unusual in Bitcoin (it never closes, so why should there ever be a gap?) But the gap is there, small but clearly. And Bitcoin just had to fill it. Since then it has rallied 800 points back to test 8332 resistance line and is once more consolidating. Price action is quite subdued though - it did get bought in London again but not aggressively. So now it's coming back towards the dynamic in a three or four-wave move most likely which can be bought again if not long again already on exit of the upper small parallel for rally back to 8332-8350 and then, once passed, to 8550-8650 range. Bitcoin has to break above 8650 for the next part of the rally to take shape and to follow for higher prices still ahead. On the downside the dynamic running under the lows overnight must hold up to all challenges from here. Any failure will be the first big hint today that upward momentum is waning here- not much buying intent so far...so this is not not particularly strong yet, but also the decline overnight was not a collapse as it could have been - so it's pretty neutral right now but still with an upward bias. However should the rising dynamic under price fail today at any point look for the same type of pattern emerging as yesterday when it lost the parallel then...a rally back to underside of the same line and then, eventually, failure. If we see this type of price action develop it can be shorted with stops above the line. But until then we can look to buy this next next dip to the dynamic with stops under the line.
COINBASE:BTCUSD
by sumastardon
7
ETHEREUM: ETHUSD Next Buy and Sell Points TodayETHEREUM ETHUSD Update So maybe you have 5% more ETH for your money than yesterday...and if not ETH is back at the same levels again, but this time challenging resistance from the underside of the dynamic which until yesterday had been good support...so we've seen this pattern countless times before...ETH is vulnerable again here - must find buyers now to push above 848 and hold there for further near term strength today to 892 and then 990.
BITFINEX:ETHUSD
by sumastardon
Bitcoin: BTCUSD Next Buy and Sell Points TodayBitcoin BTCUSD Next Buy and Sell Points Today We left Bitcoin overnight to track the parallels lower to the next downside target at 8300 on Coinbase chart. The low so far is 8310. Close but no cigar. Bitcoin is still under pressure whilst unable to break above the dynamic which has clipped all rally attempts overnight - cannot be bought unless it breaks above this dynamic and regains 8610 and holds there - only if we see this price action develop can we go long for 9093 and a test of the upper larger parallel where will look to close and maybe reverse short again at that point if touched. But until we see that the selling pressure remains. It has to hold now at 8300 or we have another poor day about to unfold. Some day traders will buy here around 8310 but with stops close under 8300 and ready to reverse for small loss if wrong if 8300 is broken now. On the downside the next short kicks in on a break below 8300 . There's minor support at 8150 which may create a little bounce but the next support any significance below 8150 is at 7830 on Coinbase, then 7500 and finally 5656. A break below any of these levels by more than 30 points or so should lead to a test of the next level
COINBASE:BTCUSD
by sumastardon
DXY: Dollar Index trade set-ups todayDXY: Dollar Index - A Big day ahead for the Dollar Near term Key to Gold, WTI, Brent and Pairs The dollar is stooging around now having fought itself to near stand-still - it's likely to start moving in a tight 50 pip range at 89.30 above and 88.79 below - will whipsaw most likely later today...can play the whip if super slick (not me!) or can stand back and wait for the dust to settle.The key levels are shown on the chart...can dip to the blue support line below it at 88.79 today but must break it to retest the low...which must hold or we have a major near term selling climax likely down to 87.70 ish dynamic support (buy there if you see things stop sliding here) And on upside it has to clear and hold above the recent highs by more than 5 pips - so at 89.66 - and we should know then that the dollar is turning positive again - it should be safe to follow with stops a little below 89.28 when the trade gets triggered (stops are better judged by the individual though, depending on risk profile) Once the dust settles gold and pairs and oils can also be traded with more confidence too.
TVC:DXY
by sumastardon
Bitcoin BTCUSd Key Levels TodayBitcoin Update Key Levels Today Bitcoin spent a really slow day slowly grinding higher until it hit the dynamics waiting above it to smash it back down again. It did manage to get as high as 10330 but couldn't hold on to the vital 10262 level on Bitstamp - but the bulls wouldn't quit and eventually they drove it up to test two converging dynamic resistance lines by midnight EST - at which point the bull game was over again and it's fallen in a straight line of red ever since. For the last 4 days Bitcoin has faced a barrage of selling when London wakes up. We were looking for a short back to 9371 and the low today so far is 9333, so it should be closed out again now. It's falling away to test the long term dynamic support at 9300 with more support at 9200 and is now a speccy buy with stops under 9300 and below 9200 at lowest, looking for smallish rally to 9600-9700 and then close out again. Returning to the downside, 9200 at lowest must continue to hold up on all tests today - should this level fail at any point we return to full-on bear mode, looking to short back back to 8993 initially, then 8058 once 8993 breaks. The next significant support below here lies at 7415. A break below any given level by more than 30 points should lead to a test of the next listed level. * There is another way to receive updates throughout the day but it's intended for full-on, active and experienced traders of Bitcoin only (please see top of Sumastardon page for further details)
BITSTAMP:BTCUSD
by sumastardon
1
Augur targets for this weekWe are looking 1-hour chart. Augur surged from 45$ to 100$ a few days ago and has now declined to 76$ which is 50% at fibonacci where we can see huge support. Augur has already bounced back from there two times now. Before we can look at 100$ I think we have to test the support level one more time when we have a triple bottom, then we can take a look towards 100$ where we are likely going to face resistance. If Augur doesn't bounce back from 100$ our next target is at 142$. The slow surge would be good because then RSI is on our side. This is not financial advice. Feedback and comments are greatly appreciated.
R
by Samppa290
Bitcoin BTCUSD Update and next buy pointsBitcoin Update The long from the retest of the lows at 12810 on Bitstamp chart has gone quite well overnight as far Eastern buying helped to drive price back up towards the start of the rout that began 24 hours earlier out of S Korea. We had a likely upside limit to his trade in the near term at yesterday's high point around 14200 for a rough 1300 point win but it's stuggling here somewhat under the weight of a new set of parallels that have emerged overnight...likely to unwind some more in near term - day traders are cashing out at these levels after a 1300 point win from the lows and causing Bitcoin to flip around at the highs... Bitcoin is still not home-free from here but it's close to the border line now. We have to see Bitcoin break above the last high at 14215 to show that we have a real change in trend back to positive from this point - this is the price action we have to see later today for Bitcoin to stay good for a retest of the highs..until we see this happen we have no real proof that the trend has changed decisively - this could be another counter rally in a downtrend so far - beating back and regaining 14215 and holding up on the retest would give us that proof we need that Bitcoin is good for a retest of the highs from here. In near term this pattern is one of consolidation - if not day trading and wishing to run this long for the next few days (hopefully) raise stops to a little under 13780 on Bitstamp for just under 1000 points profit from the low...this still looks OK but that green streak below us is uncontested so far...can come all the way back to the start again potentially of the green streak and to the lower parallel before rallying again if 13700 gives way later...we need to see Bitcoin beat the last rally high yesterday to immediate left of price to show that Bitcoin is definitely changing trend from here - that will attract more buyers and take price up to 14500 -14656 range which is the area from which the sell off in S Korea began and the next potential area to look for a consolidation to occur from. And on downside, if we do get a test of the lower parallel later on that should be another good opportunity to get long again with stops 50 to 100 below the same line.
BITSTAMP:BTCUSDLong
by sumastardon
3
Bitcoin BTCUSD Update and key levels todayBitcoin Update The break above the flag after far East opened had just enough power to take it back to the previous high of the day but not enough to break higher still - it really had to achieve this in the first hour after the break above the upper parallel of the continuation pattern - but only double topped before falling back once more to the break-out level before rallying one last time to a new high for the new day before getting sold off as London opened (hight at 08.30GMT). That pin bar created in the process means there is some serious near term selling power overhead. If you have raised/trailed your stops as each blue line is regained by the bulls (to just a few points under the line once broken above) then only about 200 points more profit have been locked in*. Those that got long when 14002 was broken above and held for the second time - with a technically near-perfect restest from above coming soon after (see chart) - have been rewarded with an 1800 point gain, so far, if not stopped out higher still. But it's a heart-breaker if you followed advice to raise stops to 13675 - the low was 28 points lower - turning a really good trade bad for those who followed it. Worse than being wrong, the most painful of all trades are those that are right but with wrong stops. The lesson for 2018 is to know that stops need widening now from 50 to 100 points in past to 100 minimum and 200 to 300 maximum -because price has more than doubled in the interim period. So if still long here we need to raise stops to just under the 14539 blue support line. Bitcoin should reach a minimum upside target at 16887 as a consequence of the reverse head and shoulders but to stay good in the very near term it must now continue to hold up at 14539 at lowest during the course of today - any failure to do so will trigger a short back to 14010 with a stop 100 lower if we see it. On Upside, The first minor resistance is here, at 14900 and Bitcoin has to push through here to stay positive now in near term. It's likely then to move sideways to up to retest 15077-15130 range and then to consolidate again before moving higher still, with each blue line being the likeliest points at which to expect near term resistance/consolidation to occur. So we stay long, looking to increase positions on a break above 15500 for further strength up to 16506 . Bitcoin only turns negative from here if 14530 gives way - only then do we enter into short positons again, looking for retest of 14010, where we would look to reverse back to long again with stops 120 below, at 13880 . *For newer traders any break above an upper flag parallel must have enough power to carry it above the last high (top of flag-pole to immediate left on chart) and should do it within the next hour or so of the break-out occurring - some flag break-outs only have the power to double top and some are full of intent, as we saw with the first flag breakout from the 13770 level yesterday. So, for future reference: watch the break-out in that first hour after it happens - if it stumbles and creates a little pin bar on 15 or 30 minute chart right around the last high it's a good clue that buying power is waning here - this is when Chart V Heart problems can arise - you want to stay long but the chart is saying it's topping out and losing upside momentum - you must follow the chart at that point, especially if the next candle starts red from the outset and cannot make it above the last candle. It's VITAL that you study breaks - they are our life-blood, the things we need to open new trades. Get a good understanding of breaks and failed breaks and you will be 80% of the way to making good returns on trades and not letting profits slip away because your heart ruled your head and the chart therefore got ignored. Overcoming natural human emotion and managing stops are our 2 biggest challenges as traders - not identifying patterns and trades.
BITSTAMP:BTCUSDLong
by sumastardon
2
Bitcoin BTCUSD Next Buy Points TodayBitcoin: BTCUSD The flag formation stayed good up to the point when the Far East session took over, with no further visits to the lower parallel - 2 strikes = 'hot' - and Bitcoin then duly broke higher as the flag had warned it would. But the rally only got as high as 13462, some 18 points shy of the target before falling away again. So was 22 points out on the downside limit yesterday (meant to test the lower parallel but it stopped just short) and 18 out on the limits of upside for the day - important to follow how accurate or not these calls are so you can work out an acceptable margin of error to trade off them, is all. The forecast should have said 'look to short again from upside target' which was remiss as no other upside targets were mentioned - this was expected limit of upside. Should have covered that. But we make over 1000 points on downside and took 2 longs which yielded close to 900 points on upside yesterday - where else can you do that on a quiet Saturday? The first long was brave and not very easy to enter right off the lows as it never hit the lower big parallel, but the second long at the other end of the day (as China opoened) was worth waiting for and worth following - but even that fell 18 shy of the intended target. No cigars, again. But Ok in quite tough conditions. We could have been wrong-side of this - in fact since starting to hunt Bitcoin in deadly earnest from November 3rd - over 60 days of intense tracking and trading - we have never been the wrong side of this monster once...when the chart has said bullish we have followed and vice versa when it told us it was turning bearish. And then when it told us to stop being bearish, we stopped being bearish. If we just accept that the chart is boss here and not us we can keep doing OK, hopefully. Since then Bitcoin has relapsed back 800 points to retest the support line at 12617 and bounced...it should test 13000 and come off again - still no really good clue that this bear phase is done yet - would be helpful to us to see a double bottom created on next decline. Failing that, Bitcoin is hammering out a continuation pattern now which can be followed long once 12987 is broken to upside for move to 13460-13489 again. Day traders may look to short from 12987 with stops 50 above but ready to reverse long if 13000 is broken, as above. A break of any support/resistance line by more than 20 points should lead to a test of the next line for day traders.
BITSTAMP:BTCUSD
by sumastardon
5
IOTA - Bullish TendencyGood afternoon traders! In my previous analysis (linked below) I identified a triangle pattern in IOTUSD H1. As you can see, price broke triangle pattern, and then, tested its new resistance line at 4.2. Now that the market correction has finished, price will keep moving forward throught its tendency line. Volume tendency supports current price tendency. Recommendation: BUY TakeProfit1: 4.99827 Take Profit2: 5.28218 (Riskier) If you find this analysis helpful, don't forget to follow, like and comment! :)
BITFINEX:IOTUSDLong
by Juanchobanano
11
BCHUSD: Vunerable below 1300 - sell here stop 10 points aboveBCHUSD Update Trading Strategies Today We were short from 1346 back to 1245-1228 range for a quick 100 point win but then reversed here according to the plan (top left) - we were looking for a wipe-out to 1286 and hena bounce back to the line above it on chart and then the big collapse. It went OK, but the low at this point was 1274 (so stops which were way too tight in a crazy fast market were hit for a 5 to 20 point loss and we missed a great trade back on the rebound as it duly whipsawed back up to 1349-1367 range with a great pin bar of rejection appearing as it attempted to break free of the parallel that still holds it back now - a clue that this is still unloved right now...so with TV down and no way of uploading we had a second chance there to short again...what a night for TV uploads to explode. This is so technically near-perfect (the new downtrend contained within the parallels is hardly perfect, but still feels right (but we know it's can be violated on upside and not be trustworthy, so not perfect here for sure)...will it stay that way for the finale? BTC still doesn't look finished on the downside yet. It's about to hit the upper parallel and can reach 1300 where it becomes a sell again, looking for the final flush out back to 1178 to 1123 range. Look to get long again in this range if struck later. Will likely be hectic and full of whipsaw potentially, nevertheless brave the storm and look to get long as low down as possibe in this range. Can set buy orders now, rather than in heat of battle, if it comes as expected to. Spread them across the range from 1178 down to 1123 with all stops below 1100. if not all struck be ready to add on break of upper parallel once the lows have been struck. Cannot trust a break above this upper paarllel that controls upside as we can see it's been broken through but never survived a retest, but still believe it will hold back this rally at 1299. Sell from here with stops 10 points plus above the parallel and look to buy back later, as above.
BShort
by sumastardon
ETHUSD Range and key break levels for today ETHUSD Update Risk Management Today Neutral whilst Trading between the lines, but great for day traders whilst it lasts. Left this as a sell off the underside of the lower parallel at 469 but it only reached 468 before it came off...two little pins off the underside was enough warning to exit and traders had plenty of time to see it form and take action. We looked to buy back at 455 and since then it's risen to hit the underside of the same parallel - and what was once support is now resistance to the upside in classic fashion...so that was a sell again (was banned from updating anything for 12 hours last night for making honest error of uploading a Litecoin chart to the sad little fellow who haunts the gold chat room on TV. So was banned because he reported my error and some jackbooted apparatchik moderator shut me down. Who would have the time to go report someone for making an error? Who are these people ffs?) So couldn't update this beautiful chart action...anyway it's been fantastic to trade in and out of if you've followed the lines on this chart which are unchanged from yesterday with addition of the new uptrend line which had formed here over the last 48 hours. Fairly obviously it's a buy off the new uptrend line supporting the entire move and a sell off the parallel above it...until the chart tells us it's changing. It either pops above the parallel and then comes back to test it from above once popped, it holds up ...very bullish outcome. get long again...you have missed about 3 points and a massive risk (if it fails from the parallel and you haven't closed out at the high). And alternatively if the uptrend line supporting this entire move gives way at any point it will come off to 446 again and potentially to 433 should 446 give way at any point. Something has to give here pretty soon now. Be ready for it. Follow what the chart tells you. Chart not heart. Always
BITFINEX:ETHUSD
by sumastardon
Bitcoin: BTCUSD Pivot point for today looks to be 6450Bitcoin: BTCUSD Update/levels for longs This trade is in balance, but OK above 6450 The trend is overall positive right now barring super near term test of lower parallel and successful, so far, retest of the key level at 6450 - which looks to be the pivot for day on downside) So If broken at any point and our stop 50 points lower is struck we should look to reverse short again on the next rally attempt towards 6440 once it's broken - it must then fail there to trigger the short with stop 50 points above. But until the stop is hit, the trade is good and we stay long to target at 6940 and then we look to close out and get short again with stop 50/60 points above. We then need price to fall below the lower parallel of this impulse wave with some red candles appearing, bigger the better...so if don't see this, just some lazy backing and filling but held up by the lower parallel it means Bitcoin is stronger than anticipated and needs a plan B, again...the width of the parallels is 250 points, great for day-traders and maybe even for swing traders who are willing to sit with it for a while as one of 3 things occur, most likely: 1. It does what it's meant to, reaches target, get short again, red candles, quite big, a failed bounce and then break of the lower parallel about 250 lower at 6700 by this point in time and all's well with the short back to 6510 target and then reverse again, going long with stop under 6420. Sweet. 2. It falls below 6450 and then our stop below here and we're out with 50 point loss plus spreads and reversing completely. 3. It hits our desired target but It doesn't want to break the the lower parallel around 6700 when tested, it holds. In which case close out shorts and wait to see if the bounce is strong with nice green candles again or feeble and likely to fail ...if so short gain when failure is evident, on first retest of the failed lower parallel from underneath (with stop 50 points above), looking for 6510 target, as above from there. On upside, further out in time, and so we are prepared with straight-forward plans (for experienced traders, anyway) for any eventuality: Any break above 6960 which is then sustained on the next pull back would be very surprising (so could happen, it's BItcoin don't forget) and mean we have to long again with stops 50 points under 6940 level. So the pivot point on upsdie is 6960 by look of thins
BITSTAMP:BTCUSDLong
by sumastardon
Bitcoin: BTCUSD Levels of Interest TodayBitcoin: BTCUSD Not Out of Woods Yet By 7.30pm est the Chinese market opened and started to pile in, probably not believing their luck that Bitcoin was trading at the ideal entry point off 7077 again. The immediate burst of buying took Bitcoin up to test the resistance line at 7344 for a quick 260 points of profiit before sellers moved back in. Since then we've seen backing and filling as it comes back to test the parabola again, which is NOT holding it up now and is curently at 7150, with fixed support at 7140... and more at 7077 nearby. It should start to find support around here but then has to break out of the little channel it's running down to break free of selling pressure and hold up on retests when the breakout occurs...That breakout should be worth following if we see it. Downside, it can come back to 7077-7060 but must hold up here today if it is to avoid another fall back to 6943....if it does this, it becomes a buy again for day-traders at 6943 with stop just under 6900, looking for a rally back to 7070 initially. Stops on current longs remain below 7050, which if broken means that 6934 will likely be tested again. The 6934 level down to 6900 remains critical for Bitcoin. It must hold up here on all tests. Failure to do so will trigger a welter of selling in all likelihood, back to 6312 at least, more likely to 6165. A good short, if we see it.
BITSTAMP:BTCUSDLong
by sumastardon
BITCOIN: BTCUSD Still good above 2750BITCOIN: BTCUSD Long story short: Bitcoin good above 2750, bad below same level. Looks like the pivot for price action today. Longer story:BITCOIN: BTCUSD Even addicts have to sleep sometime. What terrible timing. Left Bitcoin with a last update to short as price came back up to test the parallel and failed - which it did precisely - but failed to write the obvious next step...watch to see how it reacts at the low when re-tested...if it holds up close down shorts...that may seem obvious to experienced traders but could have destroyed a newbie. Apologies for that oversight. That double bottom overnight was so perfect too - but it took great trading instincts not to just close out shorts as the original low held up on the re-test - but to switch positions around from short to long - if you managed to do this you win outstanding trader of the day award, no contest. The last line of the update stated that Bitcoin had to regain 2750/5 and hold before vulnerability to bear attacks would wane. Since then Bitcoin has managed to regain that level, rallied to test the next listed resistance at 2805, come back to test 2755 from above and held and is now rallying from this level again as this is written. Once more a massive bear attack has failed to derail this train. But Bitcoin is still not out of the woods yet. It must hold 2750 at all costs now - any failure here will tip it back into bear territory and likely force it back to 2692-2686 range and should this fail back down to the overnight lows again. As things stand it looks like more sideways movement is likely in near term. Overhead resistance at 2805 and more at 2832 need to be overcome to open up the way for another re-test of the highs at 2930 (will have to break 2945 now to clear the way for more buyers to enter and push price on to new highs from here) - but it looks to have really slowed down again and buying power looks to be waning...Bitcoin is near term positive above 2750 and negative below here. Expect more sideways trade above 2750 and not much pressure on price above here - but if 2750 is lost it invites more bears back into the market. This level is the old high - and means everything to where Bitcoin goes from here. Whilst it can hold it Bitcoin is fine. But if it loses it again it's another short for day traders and the rest should stand back as another wave of selling should kick-in. Need to be very disciplined and emotion-free to trade Bitcoin right now. Newbies please stay away until the dust settles more.
BITSTAMP:BTCUSDLong
by sumastardon
1