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XRP/USD Founder Criticism After 16 days of lower lows, XRP prices are steadying, gaining in the last day and just 1.4 percent down from last week’s close. Though this is overly positive for investors –because it confirms our previous XRP/USD trade plan, we need to see spike in participation. From candlestick arrangement we shall recommend bulls once there is a clear break and close above 40 cents—our minor resistance line and buy trigger line. It’s easy to see why. Notice that after 17 days of draw down that saw prices did from 60 cents to spot prices, XRP prices risk dropping below 30 cents and 25 cents erasing gains of Sep 2018 and binning our forecast. But, in the last three weeks, there has been rejection of lower lows causing bulls to slow down thanks to the long lower wick hinting of increasing demand in lower time frames. Of note in this time frame is Nov 25 pin bar. After a week of strong bears, prices did find support and since then XRP/USD has been oscillating within its high low. For bears to dominate then we need to see clean breakouts below Nov 2018 lows. Then and only then shall we recommend shorts with first targets at Sep 2018 lows and later 15 cents or lower. Conversely, injection of bulls that ignites a rally above 40 cents shall trigger aggressive traders into action. When that prints, then bulls should buy on dips with first targets at 60 cents.
BITFINEX:XRPUSD
by kris_pad
QQQ-The Great Fall-Fibonacci/Wave AnalysisQQQ is a strong sell. Thesis: QQQ has completed a 5 Wave Cycle and will now begin the correction phase. Big Tech is immensely overvalued here. QQQ's chart has setup an irregular correction which occurs after a 5 Wave Cycle. Irregular Corrections have a phenomenon called 'Double Retracement'. The first retrace is the extension of the 5th Wave and the second is the whole 5th wave sequence. The first retracement usually covers only that portion of the fifth wave that went beyond a normal fifth wave. We can also compute where the irregular top will likely occur by doing the same calculations we would use for a zigzag. Irregular corrections can also occur after a normal fifth wave. The only difference is we need not get the full second retracement of the fifth wave as is common with an extended fifth wave. The first move after the end of wave 5 would be a three wave affair (Check) and is labeled as Wave A. The Wave B that follows will also be in three sub waves but the price will exceed the top of Wave 5 (Check). Thereafter, we will get a normal Wave C made up of five sub waves (Happening Now). Wave A - 3 (Completed) Wave B - 3 (Completed) Wave C -5 (Underway) Facebook = MySpace? Can Facebook be replicated? Can Twitter be replicated? Can Google be replicated? Yes. Also, data privacy and misuse story is only beginning... Another important clue that you can keep in mind is this. Compute the time and distance traveled by both the waves 2 and 4 of the lower degree. Then, your zigzag correction will be bigger in size and take longer time than the bigger of waves 2 and 4. For example, suppose wave 2 traveled 50 pips and took 3 hours, whereas wave 4 traveled 25 pips and took 5 hours. In this case, your zigzag correction will take more than 5 hours and will travel more than 50 pips. Will update. -AB
NASDAQ:QQQShort
by FibMarketWatch
5
REN-Wave Analysis-Cycle Wave 3REN looks ready to begin it's cycle 3rd wave. REN has completed lower degree waves 1, 2, 3, and 4. (Blue) Waves 1 and 3 were normal which hints to an extended 5th wave.(Blue) The 5th Wave has passed the .618 measure (0-3-4) Only concern I have is the Saudis who have the power to control the price of oil and Trump pressuring the Saudis to produce more... But, the Saudis want to take their state oil company public which makes them want higher oil. That being said, the chart looks good and could have substantial upside. First Target is $43.00 The Fibonacci ratio series is also used to anticipate the terminal points of wave 5. The technique involves calculating the distance traveled from the start of wave 1 (i.e. point 0) to end of wave 3, and computing both a 38.2% and 61.8% measure. Add the results to the bottom of wave 4, and you will get two potential targets for Wave 5. If both waves 1 and 3 were normal waves, then we should expect wave 5 to be an extended wave, and the possible target will range upwards of 100% of the distance from point 0 to point 3. Will update. -AB
RLong
by FibMarketWatch
MFSL Trade Plan 2018 Sept 14 On 10th Sept 2018, there was a huge Volume of 4930K as well as 637K marked delivery in MFSL. MFSL had come down during last 2 sessions forming LHLL. But, there was Green candle in the last session. There was recovery of 1.63% during the session once the counter had crossed Last Low. The recovery was fast but the volumes were at the lower side compared to its previous session. Last Trade was 469.70 But Close was 471.55. Means during the last half hour there was either short covering of last 2 sessions or new demand. Trade Plan : Expected opening around 470.50 The counter shall attempt to cross the last high. At the end of the session there shall be a positive close in the counter. Keeping the above move, try to buy below the Opening rate during the morning euphoria. Once the counter crosses the Last High, book 50%.
NSE:MFSL
by thevaldhaval
DLF Intraday Trade Plan for 16 Aug 2018It is BULL forming HHHL future candle. Strategy: Try to SELL above 204.80. It shall be a scalping trade. Book immediately, as counter shall be highly volatile on 16 Aug. SL will be 0.5% If the volume is lower than 161,000 as well as BB Top is crossed, in that case: When the rates are coming down from BB Top, wait till RED candle. Consider low of RED candle as Sell entry point. SL will be BB Top + o.25%. If Volume is higher than 161,000 DO NOT consider selling. In that case SKIP Trade in this counter. Trade Plan is based on14 Aug 2018NSE data. NSE:DLF
NSE:DLFShort
by thevaldhaval
USDJPY to fall below 109.000With proper setup short trade is a great reversal trade, and if it drops to under 108.000 but holds it is possible price is being either supported for or as a retracement downtrend (Can try use Fibonacci as recommended by me), otherwise will rise to downtrendline resistance. The way I see the market is now ranging in the top, to fall either as a retracement for a breakout up or continuation of downtrend since it has formed a 1D triangle and right under the falling downtrendline. Yet, the safer way of trading a confirmed reversal is if price drops below gray Midline (live chart) and 'TDI Pro indicates overbought at near below gray HighMidline as resistance.
Short
by YardleyRosette
A POSTMORTEM ON THE EURNZD TRADEFollowing a trade I took on EURNZD which I tentatively classed a good trade despite the outcome (it was a loser-see link below), I have since done some post-trade analysis and would now class this a "bad trade", at least from a trade management perspective. In quick summary, the trade was based on the expectation of continued bullishness in the pair and a break out of the identified Inverse Head and Shoulders pattern on the Daily Charts, entries were based on a 2618 technique on the 1H time-frame. On the surface of it all, I'm quite happy with my analysis of the market and, my expectation and approach were not inherently unsound. However, after analysis, what has led me to conclude that this was a bad trade was my reactions to what the market was telling me mid-trade. Essentially, I didn't react. Looking at the trade from the Daily charts, my analysis was relatively sound: the pair was in a bullish trend, had consolidated following an initial structure low (I.S.L), had setup a valid bullish pattern and was retesting the neckline/previous structure, had established a series of higher lows (essentially forming an ascending triangle). Lower time-frame analysis of price action indicated that sentiment was inclined towards further advance and had provided a good entry reason from which I could get involved in anticipation of a breakout. The main risk was that as price action had not decisively broken and closed above previous structure on the higher time-frame, I was essentially looking to capitalise on an early entry into the breakout, meaning there was a possibility that this may not occur and I should have prepared for this. "Predictive in your analysis, reactive in your execution" as my teachers like to say and one of my favourite sayings. So I'm in the trade, the question is where did I go wrong and could I have identified this and acted to mitigate, minimise or even negate the lose. My conclusion on postmortem was "YES", when I take into account the last part of my analysis mentioned above, namely 'there was the possibility that price action would not break and close above previous structure resistance'. Looking at what price action did on the Daily charts, we get a clue that this was a trade I needed to exit, in the form of a Shooting Star candle close at structure, on the day the trade was taken (21/03/2018 Candle). This failure to close above structure resistance and in the form of a bearish reversal candle should have been a clear sign that at the very least I should have reassessed the trade as there was a potential (possibly temporary) shift in sentiment. Furthermore, zooming down to the lower time-frame (1H), it is evident on two occasions that there was something of a shift in sentiment that should again have at the very least prompted me to reassess the trading opportunity. Firstly, immediately following my entry, price action double topped twice and rolled over. This should have put me on alert for a bearish 2618 retracement. I guess here, I got distracted by the fact that good stop placement had saved me from a quick lose in the trade that I was not paying full attention to what else the market was doing and essentially telling me. That is, without intending to, I inadvertently switched to a relieved hopeful mindset. I'm learning this is one of the biggest killers to trading success. The second was the retracement that provided a 2618 shorting opportunity to other market participants. This was what sealed the fate of my trade and would have proved to be a second chance "exit" opportunity. Again a saying from my teachers "Think like the other trader...". So in conclusion, I get some points for analysis and execution, following the plan and my rules of engagement but I fail in trade management, psychology and market awareness.
Education
by scorpiousg
USD/JPY_Potential Market Reversal to the Downside For the last 5 months, price is moving sideways within 108.00 - 114.50 level. Last month, price breaks down 108.00 level and previous low a bit, before bouncing back up higher with the confirmation of Bullish Price Divergence. If projected with the recent 2 lows, price may form a Falling Price Channel with the current price is hold around its resistance confluenced with Fibo Ret 78.6%. In H4, for the last 8 days, price is hold and rejected down from this level and moves within a Consolidation Box. When price is moving up to its resistance for the 3rd times with a booster from NFP news released, it has been rejected down and confirmed with a huge Bearish Price Divergence in H1. Currently in short position taken early to follow the potential market reversal to the downside. Watch for further price action around its Consolidation Box support, if it breaks down below it, the market bias may continues the down momentum with 1st target 111.50 and 2nd target 110.00.
Short
by arieg1985
GBPUSD - Levels to WatchGBPUSD > 9/24-29/17 Trade Analysis Timeframe: 1W Sideways trending in play with S&R levels between 1.3450 and 1.3587 A firm break above 1.3590 signals good probability of beginning of Uptrend towards 1.3910 A firm break below 1.3445 signals good probability of beginning of Downtrend towards 1.3140 * Personal analysis only. Please use your own rules and strategies prior to entering market. ** Forex trading involves HIGH RISK. Before entering a trade, carefully consider your objectives, financial resources and level of experience.
by ALSM59
1
USDCAD - Short Trade OnlyUSDCAD - Short to 1.1940 1W Timeframe Week Trade #3 This week looking for a SELL opportunity only for this pair for a total target of 200 pips. Pivot Point @ 1.2178 was broken but fast approaching critical Resistance level @ 1.2240, believe a set-up for reversal is pending. Note that a break and hold ABOVE 1.2240 will be confirmation that bullish trend will continue. Primary level to break and hold BELOW is 1.2155 to confirm strong bearish trend in play: Tentative: SELL Entry Market Order @ 1.2140 T/P @ 1.1940 Price could go as low as 1.1900 or within range of 1.2080 to 1.1900 but will take T/P at above target in accordance to my own trading rules and strategies. S/L will follow as price moves in projected direction at rate of 10-15 pips above. Entries/Exits may change in accordance to further analysis at beginning of week. R3 1.2338 R2 1.2279 R1 1.2237 S1 1.2136 S2 1.2077 S3 1.2035 Updates / Adjustments / Results will be reflected in updated comments. * Personal analysis only. Please use your own rules and strategies prior to entering market. ** Forex trading involves HIGH RISK. Before entering a trade, carefully consider your objectives, financial resources and level of experience.
Short
by ALSM59
EURUSD - Long / Short OpportunityEURUSD - Long / Short Opportunity 1W Timeframe Week Trade #2 This week looking for a BUY / SELL opportunity for this pair for a total target of 282 pips. With the Pivot Point @ 1.1945 and holding above the critical 1.1915 level: Phase 1 Tentative: BUY Entry Market Order @ 1.1960 T/P @ 1.2085 Believe price could go as high as 1.2140 but will take T/P at above target and begin setup for SHORT trade. Phase 2 Tentative: SELL Entry Market Order @ 1.2133 T/P @ 1.1976 With a clear break and hold below 1.1915, price could go as low as 1.1817 but will take T/P at above target and establish updated analysis before further trading if any. S/L will follow as price moves in projected direction at rate of 10-15 pips above/below. Entries/Exits may change in accordance to further analysis at beginning of week. R3 1.2075 R2 1.2032 R1 1.1988 S1 1.1901 S2 1.1857 S3 1.1814 Updates / Adjustments / Results will be reflected in updated comments. * Personal analysis only. Please use your own rules and strategies prior to entering market. ** Forex trading involves HIGH RISK. Before entering a trade, carefully consider your objectives, financial resources and level of experience.
by ALSM59
NZDUSD Long probabilityNZDUSD Long probability > 0.7500 Showing support @ 50% Fib Retracement Level having formed a Hammer. Firm Break and Hold above Weekly Candle @ 0.7300 signals positive probability up to 0.7500 Likely range of interest > 0.7410 to 0.7500 High volatility should be expected w/upcoming Parliamentary Elections Suggested strategy: Wait for clear break & hold above 0.7300 for continuance of Bullish trend. * Personal analysis only. Please use your own rules and strategies prior to entering market. ** Forex trading involves HIGH RISK. Before entering a trade, carefully consider your objectives, financial resources and level of experience.
by ALSM59