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Trendreversal

The GBPCAD Breaks Further Support LevelsWe last posted on the GBPCAD on April 5th when price had broken below key support in the form of the round number 1.8000 and the weekly 200SMA cluster zone. This in itself was not a major concern to our long position as support and resistance levels are not hard levels but zonal areas. Price can and will often dip below support levels in pullbacks in a bull trend before the bulls push price action back in the direction of the major trend. Likewise with resistance levels in a bear trend. If price continues to weaken, we then look for the next key support levels to hold strong. With the GBPCAD, this was first with the daily 50SMA and then the pivot high of January and then finally the pivot high of December. Further weakness on the GBPCAD meant price made light work of the daily 50SMA and the January pivot and is now directly at the December high. This is our last barrier to staying in this trade which we will then look to exit with a small loss. Amongst several elements that are the key ingredients to good trading is the understanding of impeccable risk management across multiple high-probability instruments. In an ideal world, every trade you place works out, and that can happen. But what is far more likely to happen is a mixed bag of winners, losers and break evens. The percentage break down of this will vary year to year as market conditions are organic and unique year to year and market to market. The focus should then not be on how many winners you have but on how large your winning trades are. This is achieved by cutting your losers short and letting your winners. And then compounding into winning trades only. The significantly larger profit from the winning trades will absorb the smaller losses from the losing trades and also go on to grow accounts. The challenge that many face is never staying in a trend long enough to ever see the power of compounding in action. This is not due to a lack of ability but due to a lack aligning oneself with the natural movement and features of the market. The focus is always on the money first rather than the process. For one to grow an account effortlessly, year in year out, your knowledge first and foremost has to be worth more than the money you have. Holding 5 trades throughout the duration of say an 8 month trend is significantly more powerful in growing an account compared to opening and closing multiple trades a day. The latter is simply advertised as the sexy way to quick money but there is never anything sexy about compromising time for money and in the end not achieving success. The GBPCAD is looking like one of those currency pairs that may not deliver this year compared to say the EURSEK which currently is looking far more promising. But we are still in the GBPCAD and price may bounce tomorrow and have a very different outlook in the following days. Only time will tell. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
by Sublime_Trading
Has the BTC bull run begun?In the past few weeks, Bitcoin has experienced renewed growth that I believe was caused by a shift in public opinion, the regulatory concerns that haunted BTC back in January are over and interest in the space both for retail and institutional investors seems to have improved. In the short term I if BTC can keep above the range of 8700-9000 it could still follow the upwards short-term trend, this week rise to 9700 showed the number of buyers that are back in this market, if price doesn´t break the current support level it it will be a huge trigger for buyers that know that the next stop whether BTC breaks it or not is 11500. Today´s correction was very much needed to scrape the oversold out of the RSI and to bring us closer to the 50 days moving average, if we fail to hold support I don´t think there a dramatic sell-off will occur, I believe it will hold in past resistance.
BITFINEX:BTCUSDLong
by ennriqe
Aussie/USD - Week 16Another long opportunity on AUD/USD fulfilling the 78.6% Fibonacci target at 0.80303. The entry has now been met at the retest of the significant monthly key level of 0.77500. This is due to the overall bias the Aussie has, in fact, found the bottom of the bearish trend at 0.76500 and reversed the trend. The first entry for this trend reversal is still running, currently 50 pips to the upside. This is targeting the 88.6% Fibonacci level at 0.80796. Higher timeframes, especially the daily are showing positive signs of this continued bullish action pinning on the 0.77500 level multiple times without breaking. If todays candle can turn bullish and leave a strong hammer wick that would be ideal for a bullish end to this week. On a H4 timeframe price has been consolidating over the past 8 days which shows that this is a very crucial level currently for the future price of this pair. Further updates will come soon.
Long
by TomFarren
1
Potential bullish long reversal in AUDCAD after break of 0.982Hi traders! When we look at AUDCAD on the 4H charts, we can see a very nice downtrend. In fact, this trend has been going for so long that it has been very overextended when we use Fibonacci extensions! The longer a trend moves on, the bigger the potential chances of a reversal happening and right now, it looks like we might have arrived at a support area that is strong enough to push the price back up. We can see RSI divergence, a clean trend with price action mostly on the left side of the moving average and the current price seems to have difficulties making a lower low. Instead, we see that the price has entered the ranging phase and you could even find an inverted head and shoulders setup in there. All clues that lead me to believe that a bullish reversal might be in the books for us. However, I want to see a break of our local resistance level at 0.982. If the price can break and close above this level convincingly, I might take a long position. This setup is one of the 12 setups that are part of my Trade Advisor watchlist for this week. With this program, you can learn how to trade these setups, get mentoring directly from me and get my full private watchlist every week: smartforexlearning.com You can find more analysis on smartforexlearning.com and can follow me here: - on Twitter: twitter.com - on Facebook: www.facebook.com - on Google+: plus.google.com Good luck in the markets! Felix
Long
by UnknownUnicorn553472
Short term analysis of BITCOIN!This is a quick and simple look at the 15-minute chart of Bitcoin, I believe that a trend reversal has already occurred and we are seeing the beginning of the new tendency, I would be happy to post my analysis of the long-term picture if I see some interest. BTC has stayed inside the yellow channel for the past few days, the upper limit has proved to act as resistance several times so breaking above the 7000-7100 price range will likely cause BTC to test 7500 again. If we break the channel to the downside we could bounce in the 6400-6500 where buyers seem comfortable entering.
BITFINEX:BTCUSDLong
by ennriqe
Aussie/US DollarThe trend reversal opportunity I have been waiting 3 weeks for has finally arrived. Ever since this pair dropped into the 61.8% Fibonacci region I have waiting for a support key level to hold it up subsequently moving price action bullish. This level turned out to be the Monthly Key Level of 0.76500. Price first tested this level on the 29th March, creating a bullish engulfing pattern. On the 2nd April price again retested, creating a morning star pattern on the H4 timeframe. Price action hit the monthly resistance of 0.77000 a number of times, breaking out once to retest the descending bearish trend line. This was a important breakout as it hinted future price action. In the second week of April price gapped up 7.5 pips and created a strong hammer bullish candle on H4. Price then retested the level of 0.76500, (slightly above by 2 pips), creating a hammer candle on H4 and a bullish engulfing on H1. The following price action up until the point of typing looks to be heavily bullish with a breakout of 0.77 looking very likely. I found an entry at 0.77040. This was 54 pips above my intended entry point, psychological factors were the reason for this misjudgment. I set a 25 pip stop loss with a take profit at 0.80635, the 88.6% Fibonacci region for the trend reversal. This gives a very healthy 14.3/1 Risk Reward. An update for this trade will come in the following days...
Long
by TomFarren
1
BTC USD down trend continuesAs expected, the down trend continues. The rising prices of other cryptos, i.e. Litecoin, Ripple and EOS during the past days indicate that the down trend may be almost exhausted. Nevertheless, it seems plausible that BTC reaches our short term goal of 6000 USD today, which is the double bottom. I do not expect a significant bounce here. Maybe we can hold that level for a day. For medium term target please see my other posts. I believe we need to be considering that the down trend seems to be close to be exhausted. Accordingly, any positive news may delay the correction further or even end it ultimately. Trade safe.
BITFINEX:BTCUSDShort
by UnknownUnicorn1005877
XEMBTC has limited bearish potential:bullish biasPrice action in XEMBTC (NEM) from the May 22, 2017 high of ~0.00013911 down to a low of ~ 0.00001128 (on Dec. 8, 2017) is corrective i.e. a 3 wave move in this case that I have labelled as an A-B-C Elliott wave structure. This implies either at least another 3 wave move back up or the resumption of a bullish impulsive wave. Price swing upwards from the Dec. 8, 2017 low up to a high of ~0.00010264 on Jan. 4 2018 was rather another correction (3 wave move), and not impulse move. The current price swing downwards from the Jan. 4 2018 high is either wave (C) (to be labelled capital letter and in pink) or wave B ( capital letter and in red). Either scenario implies the resumption of at least another 3 wave move back upwards or impulsive move. Since both scenarios point upwards(bullish), XEMBTC should be considered for a long position (bullish). Support 1 (between 0.00003263 and 0.00002451) is a likely target for the current downswing in price and if price breaks through Support 1, Support2 (between 0.00001244 and 0.00000235) would likely offer a floor for XEMBTC. Assuming a scenario where price continues to sell off and reaches Support 1, buying a break out after consolidation at Support 1 (e.g. at ~0.00003271 and placing the stop loss below Support 1 e.g. 0.00002447 would give a risk = 0.00003271- 0.00002447 = 0.00000824 Reward = 0.00006858 (Bottom range of Target 1) - 0.00003271 = 0.00003587 Risk/Reward ratio = 0.00003587/0.00000824 = ~4.4:1. Use of a break out above Support 1 as explained above for example and using the bottom range of target area 2 to take profit will give a risk/reward of ~7.3:1 . Use of the bottom range of target 3 to take profit gives a risk/reward ratio of ~10.4:1 Range for Target 1: 0.00006858 and 0.00007573 Range for Target 2: 0.00009321 and 0.00010503 Range for Target 3: 0.00011808 and 0.00013852
by Coin_Analyst
RIPPLE.. SILENCE BEFORE THE STORM !XRP will have to prove itself as a very crucial moment is nearing... probably within the few coming days... In my eyes there's a giant pennant getting to its end... as well as a visit to the side of the descending parallel. Hoping for a serious push in the back if we are in a bullish trend... I left out the Elliot waves, as this speaks for itself, but probably it is the 3th wave, as well as BTC. There is a chance BTC will make a correction before going up... but as XRP is quite stubborn at the moment, it could do the opposite... Let's wait and see.
BITSTAMP:XRPUSD
by Wolverinos
5
ADA/BTC bearish continuation or possible trend reversal? After a massive bull run, ADA is doing a ABC correction. Also we see a falling wedge, if ADA falls through support (yellow circle), I expect bearish continuation. The 0.786 fib line (2250sats) could be a perfect buy zone. Buy orders should be placed within the red box. If ADA hold support at this level 3000sats, then I expect upward movement. The RSI is oversold, this triggers people to buy. When we hit the upper line (resistance) and volume kicks ADA could breakout, This indicates a trend reversal, possibility for another bull run. This is not financial advice. If you have any feedback or remarks, please feel free to comment below. Peace and trade safe!
by paultje
BTCUSD TREND REVERSAL - WEEKLY MORNING STAR IN THE PRINTSDear all, the last time we printed a weekly morning star, BTC was in the 4K range last year after a selloff from 5K to 3K: When this was printed on the daily, we also saw a huge momentum swing to the upside after the selloff: Since then, we have never seen 4K again - price went up by about 350% to 20K before BTC sold off to 6K. A morning star is a bullish signal signalling the end of a downtrend: www.investopedia.com We are in the midst of printing another one - and how this plays out is highly dependent on how we close off this weekly candle. We have about 3 days to go. In conjunction with this, we have rebounded strongly with volume from the 76.4% fib level from the swing of 2K to 20K. Stochastic RSI is also crossing up. Each time it did, we have had strong rallies. I have no potential price targets for this setup, as what is currently seen is a gradual sentiment change of price discovery. Once these signals confirm and close for the week, we can anticipate another huge run up aiming for new highs. The trend is your friend. Cheers.
BITFINEX:BTCUSDLong
by Jeuvici
BTC showing signs of Trend ReversalIf any of you have seen my comments around here, you know that I'm no Bitcoin Shill... In fact, I pretty much detest the stuff. But the facts remain. The perceived value of BTC still directly correlates to the price action of all other coins and tokens. As asinine as it is that we all trust and believe in a coin which is centralized in China, owned by a couple of Billionaires, and is based in a country which is openly hostile towards all Cryptocurrency, the price of our superior tokens will not increase until the price of BTC stabilizes or increases. Anyway, that's what I perceive the charts are telling us now. What we have here is an Inverted Head and Shoulder's pattern. If this pattern is confirmed, we will see a "bullish" reversal of this trend. Which I'm sure you've been enjoying. We see that the pattern is validated by volume and RSI. We are currently nearing the Apex of the Right Shoulder. We should soon expect to see a test occur at the neckline. I anticipate heavy resistance at the neckline, which is also a Fibonacci level. IF this line of resistance can be pushed through we will see the price of BTC increase to $11,000 and possibly follow the chart as I've drawn it. If BTC FAILS to break through this key resistance level I would very much anticipate the price of BTC to decrease further. Falling below the prior "lows" and possibly continuing the downtrend towards $1,200... Which is honestly probably about where we should be valuing BTC anyway. What we should NOT be doing is thinking that just because the value of BTC crashes it means that our "alts" (superior coins) should also decrease in value. Ideally they should be valuated completely independently of each other and all other coins. But that's not the world we live in... yet. The arrival of that day is the day that BTC will have exhausted its final use-case and we can finally bury it with honors. A great proof of concept. A profound example of everything which can go wrong with DLT. And, hopefully, we can all learn from its failure and understand how to avoid those traps. Personal biases aside, BTC looks like it's on the road to a rebound...
BITFINEX:BTCUSDLong
by VanBenno
2