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Bitcoin - The grand scheme of thingsAlts are tied to BTC and for now BTC will follow the Dow, why? Because the DJI is a direct reflection of the health of the economy. In a bad economy we can see that institutional money pulls out of crypto as well. If things continue to be this bad we will see the capitulation of some lesser-known Altcoins. Let me give you some perspective as to what has happened over the last few weeks so you can appreciate the magnitude of this event. Let's look at the Dow and how some major events have influenced the health of the economy. Also, remember that in the end, we will bounce back from this, maybe faster than any other time before. Let's look at these key events; The market crash of 87, September 11, 2001, and the housing market crash. As you can see so far this event is as big as the 1987 crash but with the main difference, that this event is not even close to over yet. On BTC we'll look at how COVID-19 influenced crypto while China was fighting the spread vs once the virus made it to the U.S. What does this chart tell us? A lot, you can see that the bulk of the money is in the United States and it comes from major institutions. How does this info help? Easy, bad news out of the U.S. will influence negatively so be ready, bad or good news out of China does influence but not as much. When the U.S. recovers the crypto market will bounce hard. WHAT'S BTC DOING NOW? BTC truly had to jump over the 200MA in the weekly chart in a hurry to stop a meltdown. We went below this benchmark and closed under it once last week. The 200MA is a very crucial line and currently we are playing with fire and this asset class knows it, it is obvious that the powers that be pushed the price up in a hurry to close above the 200MA (that's how important this is) We are currently above the thin red line which was our next obstacle, we'll keep moving up but it is hard to see us going further than the thick red line. WHERE IS THE DOW HEADED? It seems like we still have some more events to go through. We have yet to find out how bad the coronavirus has influenced the U.S. We are expecting the job reports, Also the end of Q1 and Q2 (quarterly reports.) It is expected that most companies will post massive losses. All of this will send the Dow lower in the next few weeks which will influence the direction BTC will take. VERY IMPORTANT: Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of thanking me for my time and so I thank you for yours.
by cryptoGats
32
Bitcoin - This is a business not a charityThe way I see it every trade should be a straight-up business transaction devoid of emotion. If you want to build wealth you only take low-risk high reward bets. Look at every choice you make and take that approach. Make a bet only when you know the odds are in your favor. Trading is no different, approach it as a business, learn how to value capital, think of your self as a wealthy and cheap person looking for low-risk high rewards investments. Your concern is not to ask when do we jump in, instead, ask yourself if this a safe bet and if the answer is yes then you take it. Even the smallest of capital was multiplied and built with this mentality. Use it, own it! How do you spot these opportunities in crypto trading? First, learn to chart so you can see these opportunities developing, learn to properly gauge your risk-reward ratio and stick with one position size strategy. I can show you how. PM if you have questions. What is BTC doing now? After a definitive move above resistance, Bitcoin is currently retracing most likely back to the support line (the white line.) The next few days will be very interesting since we have a few events to keep an eye on. 1) The 50MA is looking to crossover the 200MA which could be a very big boost to bitcoin's current uptrend, then there is another major event in the works that could propel BTC to the upper levels. 2) We have to wait and see if BTC retraces all the way to the support line. Be sure to set your buy order and have a good risk management strategy in place. POINTS OF CONCERN We are still under a 50/200MA death cross on the 1 day chart. Lastly, the 3-day chart concerns me a little, let's not get into it for now but let's put a pin on this chart and keep an eye on it. VERY IMPORTANT: Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of thanking me for my time and so I thank you for yours. THE TREND: Neutral/Sideways THE OUTLOOK: Potential golden cross around the 18th
by cryptoGats
164
Bitcoin - Are you entertained? - Watch this!HOW TO COMBAT AND DEFEAT FOMO If you look at just candles on your chart and nothing else, everything looks random and that's how most people see price movement, but once you put the right indicators and the right trend lines on your chart, you'll see a pattern, you'll also see intent, meaning where BTC is leaning towards. In other words, without the right lines and indicators, you are buying the top and selling the bottom, if you fix your charting, you'll fix your timing and FOMO will not be an issue. Specifically why? You'll have more awareness, knowing if you are on an uptrend or downtrend is very important, you always want to trade with the trend. Why? It's harder to make a costly mistake since momentum is going uphill (your way) anyways. TRADER VS. INVESTOR What is the biggest difference? An investor cares about the price of Bitcoin, a trader cares about risk. An investor is looking for long term value, a trader is looking to make money much sooner. As a beginner, you don't know the difference so you take on the personality of both. Most of you are interested in trading so you should not be concerned with the price as much, your only concern should be in finding low-risk high reward scenarios that don't come often but when they do they are very safe and deliver large returns. Take a look below; This example is of LTC last year this is what a large move looks like. You jump in after confirmation and you get out when the run is over. MAY I REMIND YOU OF THE 50/200 DEATH CROSS We are still trading under the 50/200MA death cross on the daily so we have to be cautious, yes we are seriously challenging the 200MA right now but if we lose the battle we will lose big and if we win we will win big. The point is to wait and let others take the risk since we are at 50/50 odds right now. The approach you have been taking has lost you money, take a different approach for once, one of discipline and patience and see how it works out for you. WHATS BTC DOING RIGHT NOW Besides depleting beginner's capital one poorly set stop loss at a time? It is trying to get more buyers to jump in and continue that move higher, but so far not many are stepping up to the challenge and so why should you! Let's wait and see if BTC has the strength to stay above resistance more than 3 candles in a row, in other words, let's wait for confirmation. My style of trading works and I've proven to you over and over again that simplicity is best over complexity. Keep your eye on a few battlegrounds and you'll get good hints about BTC's intended direction. Reach out to me (PM me) if you want to become a better trader. VERY IMPORTANT: Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of thanking me for my time and so I thank you for yours. THE TREND: Neutral / Sideways THE OUTLOOK: More downward movement expected.
by cryptoGats
165
USDCHF: Ending Diagonal - Signal for ReversalEnding diagonals are motive wave patterns yet not impulses, as they have two corrective characteristics (wave 4 must always enter the price territory of wave 2). ED's usually take the shape of a wedge and in all cases, they are found at the reversal points of the larger patterns, showing exhaustion of the larger movement. I usually confirm that I have an ending diagonal if I see divergence on the RSI. In many cases, an ending diagonal is usually followed by a strong impulsive move in the opposite direction of the trend.
Education
by UnknownUnicorn5158708
Bitcoin - Fishing for fools, don't be one!The problem is that BTC does not want to face reality, it is time to buckle under the weight of the death cross. It keeps pretending like it has the strength to defeat it by moving up once in a while but the truth is that to defeat a death cross it requires an astronomical amount of volume. Yes, exchanges can start pumping BTC anytime but we will only drop money in if the price hits the bottom of the current channel or one of the two X's in the triangle you see below. The X at the end of the orange line is the same as the bottom of the channel on the 1 day chart. DONT FORGET TO FOLLOW ME AND TO HIT THE LIKE BUTTON. The fact is that we are still trending down in what is called "Minor trends" which can be seen in smaller timeframes such as the 6H. And also trending down on what would be called the "Secondary Trend" such as the one on the main chart which you can see below again on the 1D. So what is happening on the primary trend? On that one, we are going up as you can see below -- which is best if you see it from a higher timeframe such as the 1Week or 1Month. To make the above charts more understandable you have to know that there are 3 types of trends: A primary, a secondary and a minor trend. We are in a bull market as long as the Primary is on an uptrend and yes we are going up for now. Where we make our money is on the parabolic moves during the secondary trends. I put all my money in once we hit the 200MA on the weekly which was around $3600 on Feb 18th and pulled out at $12,000 on the 2nd of July. I was able to make my money for the year at that point, it takes discipline and patience but you can get there too. Why did I say that BTC is fishing for fools? Because it keeps printing bull flags and other bull patterns to entice new traders in and if you fall for these patterns, as soon as you put your money in it crashes down eventually you will lose your entire working capital one small chunk at a time if you trade in this manner. Keep reading my posts, you'll understand what you did wrong and then you'll understand what you can do to correct it. THE TREND: Going Down, we have not made a new higher high THE OUTLOOK: Expected to go down, surprising if it goes up.
by cryptoGats
23
Gold - Risky and Critical AreaPer to Monthly Chart, since 2 years Gold is moving within tight range between levels - 1350.00 - 1150.00 - since 2 years moving. Looks attractive for many traders to start short sell but very risky from this level because if any month closed above 1350.00 will go direct to 1430 - 1480. So better to have more patience for selling and better to wait good chance for big correction and buy it for long term from the level 1250 - 1200 as an investment Forex Trading Strategies with a minimum risk
OANDA:XAUUSDLong
by SHARIEFNAJJAR
CADJPY Step-By-Step Analysis - BUYHey, this is a step-by-step post - how I found this Buy area. 1. Currently, there are short term lower lows and lower highs which guided the price down in downwards channel. At the moment, there are almost perfect highs which allow drawing a perfect channel and I'll wait for a bounce around the projected bottom trendline: Basically, copy/past the upper trendline and drag it into the last confirmed low (8. March) 2. Okay, now we have an area where the price may make a reversal but this trendline is not enough to convince me to take a trade. Let's search more, and soon after I looked it I saw that the waves from the top to the trendline touch may be equal and they are, perfect! ABC Equal waves: As You see the blue box is not there without a reason, but we need more, more and more :D 3. Actually, those two was the main reasons why I try to trade this area but as said, I need more. The next criterion is the Fibonacci and Fibonacci 50% retracement level. Fibo has three major retracement levels: 38% - momentum movements 50% - a bit slower rejection 62% - golden ratio Now, we have three price action criteria matching each other in one area, nice! 4. Support level: One clean bounce area which has worked previously as support, matching exactly with our marked blue area. Those are the major reasons why I marked this area as a possible short-term bounce opportunity. Currently, You have to consider a thing that the price approaching this blue area pretty sharply. So, it is safer to wait for a bullish candlestick pattern formation on the bounce area because this area is not so precise. 5. Wait for a bullish candlestick pattern on the marked area: Bullish Engulfing, Hammer, Tweezer bottom, Railroad Tracks, Morning Star Do not forget to support my idea post by hitting the "LIKE" button! Thank You! Have a nice day, Cheers! *This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Long
by VaidoVeek
4
SHAK at strong resistance getting ready to breakout?!SHAK One of my favorite setups is to take a stock long at the break of a resistance or break of support to catch the momentum of the move. Earnings are about 2 weeks out too so SHAK may rise into the ER like most stocks do. MY setup is taking the break of Thursday's candle with March $50 calls. Keeping a tight stop in case it's a failure on the break up. Target 1 is the 200 day sma and target 2 will be around the $60. Let's see what she does this week! Once filled will give the trade 3-5 days to see how the momentum is. As always let price discovery be your guide :-).
NYSE:SHAKLong
by Price-Level-Trading
Looking at taking below 2722.25 short based on 30min candleCurrently testing the near term uptrend with an indecision candle on the daily again. We failed to break above 38 on three attempts. The market was muted to slightly down with JPow's speech in D.C. 2722 area is solid support and I like the buying that came in just above there. However if price can't clear 2726 and stay above 2728, most likely will continue down breaking the uptrend line. Let's see what she does. As always let price discovery be your guide :-)!
CME_MINI:ES1!Short
by Price-Level-Trading
Forecast for YM this weekJust like ES1! and NQ1!, the trend is bullish. However we are at some resistance on the daily. There should be a lot of support at 24,860-24,900. Below there 24,750 has to hold or we will sell quite a bit. Testing the 200 day sma right now and the downtrend line from the ATH. We are currently more than 2/3 back from the reversal in December and the ATH. This area should be support as I mentioned above. If she continues higher, looking for a target of 25,200ish. I expect a bigger pullback coming in the next few weeks. As always let price discovery be your guide :-).
CBOT_MINI:YM1!Long
by PriceLevelTrading