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ETH | BTC: is the run over?Quick message to say keep a tight stop loss... Things were looking great until recently. Today we saw ETH 7 week ascending channel break and currently looks like it has converted the bottom of channel into resistance now. Whats worse is that BTC broke down out of its channel several days ago and appears to be forming a descending channel now. One thing we can assess from previous market moves, if BTC pulls back, so will ETH. Keep a close eye on the market with tight stop loss, if we maintain a descending channel, shorting every touch of top of channel can usually bring repeated gains through out the descending channel. This channel, if it rides all the way out we could see $145 ETH by May of which would represent a bottom and great entry point. There is still a decent chance these guys pop back up and continue their previous channel, we might even be in a ascending wedge pattern now and near breakout, up or down but otherwise the signals dont seem in out favor. If we have a hard pullback, look for any touch of the long term ascending trend line as a great buy opportunity but watch closely for a chance it could break the bull trendline while its so close. This isn't investment advise, its a capture of my recent TA and assessments, you should always do your own research. Also check out vcdepth.io for crypto historical market depth / level 2 data, for free. s
by EncryptShawn
1
Possible turn around for Columbus - Long PositionDanish Midcap IT firm Columbus normally avoids public radar, which might allow some upside here. Considering the past 6 months' development, I don't believe the major price fall is completely justified and I believe a turn around is possible. The recent development in the stock price shows strong support in 8.70 DKK, whereby this might be a long term bottom and hereafter support for positive development. During December increasing volumes have shown, while weekly RSI is still low despite increases. When comparing P/S Ratio and P/E ratio to local (larger) danish peers (Columbus=green), Columbus is strongly underpriced considering their Q3 YTD. I will go long when the price is 9.50-9.60 Stoploss 9.25 Target A 10.54 (1st possible strong resistance level ) Target B 11.60 (2nd possible strong resistance level )
OMXCOP:COLUMLong
by UnknownUnicorn4622096
GBPUSD - After Breakout - Double Top expectedHi Traders! The market was moving in a opening triangle. The trendline was moving up. Then it broke out last night to the next level at 1.35000. After that it made a pullback. Now the market could get some power and break out the trendline, at least to the next level, to continue the trend. We recommend to buy the breakout towards the next resistance . The reason is that the market could form a double top formation in the next step, if it fails to make a higher high. Thanks and good luck :)!
Long
by swissmoneymakers
DXY potential big drop pending?After forming a large bearish engulfing on the October monthly close, and price breaking a daily ascending TL and creating a new lower low. I am expecting price to come back for a retest of the TL / one of my areas of interest before potentially another large drop. One thing which goes against this however is price is still forming mini HHs and HLs above my EMAs on monthly. If this drop occurs we could see some nice buy set ups on XXXUSD pairs.
TVC:DXYShort
by andrewlickley
Chart of the Day: ES1! Continuation WedgeWhen's a wedge a wedge and when is it a pennant formation? To answer this question:- #1 The wedge occurred post a trend-break which from experience is usually an ABCD down move at the minimum #2 The wedge is situated at a key interim support level (note the key SSR level at 2800) #3 Price action is now clustering below a new SSR level #4 Price action tried and failed to break through key MA resistance #5 The intra-day high is a 61.8% retracement of the AB leg The ES1! broke down because of a breakdown in trade negotiation between the Trump administration and China. Fundamentally speaking, nothing has changed during this consolidation phase to make me think markets are going for a melt-up. So, in my opinion, this is a continuation wedge aka pennant formation. The Chinese have articulated their red lines which are a function of sovereignty and economic reality. Whereas the Trump administration seems hell-bent on gunboat diplomacy to achieve a Plaza Accord type agreement and is seemingly lumping China in the same vein as Iran in terms of its maximum pressure doctrine. A 90-day reprieve for Huawei does little to soothe the tensions between the US and China. Rhetoric from China suggests a hardening of attitudes reinforcing the view that China view Trump as an untrustworthy negotiating partner and is hunkering down for the long term. Given the mutual distrust, it would appear a real deal is unlikely and the odds of a cold war type scenario is increasingly likely and the higher likelihood of Trump’s unforced policy errors upsetting an overvalued equity market with weakening fundamentals. The fact that S&P500 companies derive approximately half of their earnings from international markets seem to escape the trade hawks within the Trump administration. As always , sell when you can. This is just an opinion, do your own homework and this is not a solicitation to trade or otherwise. For more information on SSR levels, search scripts for Significant Force Support and Resistance.
CME_MINI:ES1!Short
by WellTrainedMonkey
USD/CAD a Bear in Sheep's Clothing The pair has had quite the week. Since January 2, the Canadian Dollar has been the best performing currency in the world. This comes even with the report of soft economic data on Friday. What surprised me the most was the fact that US non-farm payrolls crushed all expectations, yet the USD still weakened against the CAD. My only explanation is that there was a risk-on mood yesterday, as equities rallied amid the strong US data and news of potential US-China trade talks. The pair has now sunk below its channel support line from October. It will require further monitoring to see whether it reverts back to its trend or a new trend is forming. On January 1, I had written that the pair should break above 1.36440 before initiating a buy position, due to the resistance that was forming around that level. It never got above there in the new year, and that resistance seems to be the point of reversal in the most recent up-trend. I would advise a wait and see approach now, given that this down-trend may continue, and a new support has not yet formed.
by BinaryPairing
AUDUSD long ideaWeekly T.F: Break of the weekly trend line which predominates for the entries in the short and the confirmation of the possibility of the break of the trend and the new uptrend + 78.6% of fibonacci which confirms slow backward movement. Daily T.F: Double floor + bullish emas with ema of 21 subtracting in support area 0.715 + 61.8% correlated fibonacci and fibo extension at -61.8% close to a monthly resolution of 0.755 Order Buy order in 0.71575 Sl: 0.70874 Tp: 0.7439 R: 1: 4
Long
by snipertariy
IRBT Triangles UpdateMy guesses: If the pattern holds, IRBT will turn down to around $102.09 before beginning an upswing again. The RSI is right for this scenario, and the anticipated drop in price before the earnings report on Oct. 23 would indicate a final drop within the next couple of days, followed by a holding pattern until earnings, before turning up. However, I don't expect the pattern to hold. The reason I have a projection arc is because this pattern has gone on too long. There is a strong possibility that the stock will instead drop below $102.90, with a possible support at $94.36, as can be seen just before the triangles began. IRBT stock prices have been outperforming the industry for the last three months, so a market correction is a distinct possibility. They already released their latest new Roomba on September 9 and there has been no news of any new products. The consensus is that the stock will drop to around $80, but when is unknown. My suggestion: Do not buy now
NASDAQ:IRBTLong
by GaiaDaughter
BTCUSD Support On Resistence possible inverted H&S and DW Wedge Fining Support On Resistence line from december highs possible inverted H&S and will combine with a Break out of the downward Wedge we have been in since january 20, 2018. If the inverted head and shoulder does continue to form and we get a confirmed breakout we will see a break out of the this wedge. The inverted head and shoulder gives up a break out target of about $9500 but this will also trigger the break out of the downward wedge and that will give us a target of about $11500 -$12500. We still need alot to happen over the next 2 weeks or next 11 days as we need a slight correction to form the right shoulder and then we should have a strong push up and through our resistence at $7800 area which will catipults us up for a overall target of $12,500. If we hit this target we will be in a confirmed bull trend and money should flow in strong. But getting above 10K first will be a significatn move and will bring back all the retail investor and big money. So we are at a exciting point in BTC especially coming after about 60 days of misery and downward price action. Happy sunday everyone and happy trading. Lets have a good day and spend some time with your families
BITFINEX:BTCUSD
by bdfulker2