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Trendreversal

ARK - A Possible Reversal?Price action broke down both the Fib support level and the main uptrend line, and since Bitcoin's price developed a strong increase in the past days this pair was going to dump as we knew the negative correlation between both. However, since November 2nd, price bounced off the last peak during July, before August's huge price increase (notice the black support line). However, at a closer look, we can see after the bounce, a double bottom sort-of pattern formed for a reversal, and price action is currently making a rather steep ascending triangle (flat top) that are normally a reversal from bearishly-oriented markets, which this has been for almost 2 months since its peak during September. Currently testing the upper limit of the triangle, but will likely correct again towards the lower limit uptrend line and then develop upward movement from that point. If the lower limit line of the triangle is compromised, we must be careful as the possibility of it descending towards lower levels is higher than the possibility of it ascending again to the resistance line. From an indicators perspective, these need to decrease price as to reset them in order to imply upward movement, hence the approach to expect decrease to the lower limit in the near future. If there is a proper penetration of the triangle resistance, and the 50% Fib retracement level in the lower time frame, we should expect a bullish run towards 45000s and 50000s targets in the weeks to come. Good luck!
Long
by CoinMajesty
7
Possible Breakout Starting on DailyBLKBTC looks like its possibly found a bottom and is trying to break its downtrend. Bullish divergence with RSI/price could be a supporting signal of upward move. It is also breaking up out of a triangle on the daily. I drew what I perceive as a few downtrends it needs to break. I won't consider a buy until it breaks the first one right around the green line. I set a few hopeful TPs and the red line is my stop. Buy in: 0.00003865 TP1: 0.00005400 TP2: 0.00006750 Stop: 0.00002680
B
by AngryBoris
AUDUSD Weekly Trade AnalysisAUDUSD > 10/15-20/17 Trade Analysis Timeframe: 1W Accomplished firm break and hold above key resistance level 0.78200 and closed above key barrier @ 0.78740 signaling trend reversal with further strength in Bullish trend. Holding above key barrier possible signal further rise to 0.79170 level with break above pushing further to 0.79290 - 0.79370 levels. Very strong resistance located at 0.80000 level. See only a firm break and hold back below 0.78200 possible bring bearish trend back into play to lead first to 0.7730/27 levels with continuance to lower levels, but in longer term. High volatily expected as I believe we are in the "wacky" season where up is down and down is up! * 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
Has Sugar Bottomed?I just wanted to take a moment to share this bit of insight. I'll try my best to be brief in my analysis. What you see is a continuous chart of Sugar futures. In my opinion, I'm thinking that there is a reversal in trend that is about to take place and here's why. The first thing that you may see is the downward slopping trend channel which began in October of last year which depicted a clear bear market. In late June of this year, prices broke through the bottom of the channel and created what I consider to be an obvious selling climax. Preceding the climactic selloff was a shortening of downward thrust, which showed stopping action in the market's selling. Since then, prices have moved sideways, creating a base. One thing that stands out about this base is the fact that the supports continue to rise, which is an indication that bulls are buying at higher levels each time the price falls. As I type this, prices are at the top of the range. Does this mean that there will be a breakout? I wouldn't go that far. After all, there was a false breakout on July 31st, which was checked at the overhead resistance area of the April '17 low. Another case for a bullish reversal, going back to the selling climax, is that the wave volume shows continuous increases in volume in the buying waves. Such action indicates that demand is overcoming supply. Something to note is how prices are pulling away from the bottom of the channel as it forms what may be an accumulative base. Conclusion: I'm gonna have to see a strong close above not only the top of the accumulative base but also above the April '17 swing low. Such action will be a signal to get long following a pullback to test the breakout area. On another note, I find it interesting that Sugar, or any commodity for that matter, is setting up for a potential move to the upside as the U.S. Dollar is about to make a strong move to the upside as well. A strong dollar is usually bearish for commodities, but hey, we can only listen to what the charts tell us, right?
SLong
by CarterBoyFX
Has Sugar Bottomed?I just wanted to take a moment to share this bit of insight. I'll try my best to be brief in my analysis. What you see is a continuous chart of Sugar futures. In my opinion, I'm thinking that there is a reversal in trend that is about to take place and here's why. The first thing that you may see is the downward slopping trend channel which began in October of last year which depicted a clear bear market. In late June of this year, prices broke through the bottom of the channel and created what I consider to be an obvious selling climax. Preceding the climactic selloff was a shortening of downward thrust, which showed stopping action in the market's selling. Since then, prices have moved sideways, creating a base. One thing that stands out about this base is the fact that the supports continue to rise, which is an indication that bulls are buying at higher levels each time the price falls. As I type this, prices are at the top of the range. Does this mean that there will be a breakout? I wouldn't go that far. After all, there was a false breakout on July 31st, which was checked at the overhead resistance area of the April '17 low. Another case for a bullish reversal, going back to the selling climax, is that the wave volume shows continuous increases in volume in the buying waves. Such action indicates that demand is overcoming supply. Something to note is how prices are pulling away from the bottom of the channel as it forms what may be an accumulative base. Conclusion: I'm gonna have to see a strong close above not only the top of the accumulative base but also above the April '17 swing low. Such action will be a signal to get long following a pullback to test the breakout area. On another note, I find it interesting that Sugar, or any commodity for that matter, is setting up for a potential move to the upside as the U.S. Dollar is about to make a strong move to the upside as well. A strong dollar is usually bearish for commodities, but hey, we can only listen to what the charts tell us, right?
SLong
by CarterBoyFX
Higher TF Short, Lower TF LongW/ the Monthly candle closing bearish engulfing suggests we can anticipate a retracement of the rally the Euro has seen against the dollar On the Daily TF we can see the formation of a Head and Shoulders pattern beginning to form the right shoulder On the 8H TF we can see price has almost formed a Bullish bat as it gets closer to 88.6 Fib level Will be monitoring Price Action @ 1.17 price to see if we get a Bullish set up If we do see a push back to upside we can see targets @ 1.191 From there we will be looking for Lower Lows and for price to show a trend reversal to the downside
Short
by BnK_Sniper
Banking on Bancor: The Trend ReversalAdmittedly, when I previously published a Bancor chart on Sept 1, I got a little ahead of things. I have since been watching it since and it appears the previous capitulation spikes to 50,000 sats may have found the bottom. It has yet to break and appears the downtrend it has been in for the last couple months may have just broken. I am going to go out on a limb here and say we will probably ride out sideways for a bit in the 65,000 to 55,000 range before retesting 75,000 and hopefully push much higher. It is important to keep in mind the amount of money that was invested into this ICO project ($153M). The smart money has held onto their tokens and it wouldnt be surprising if they have been buying the whole way down with the intentions of pumping at the first sign of positive news. Let me know what you think in the comments below. Obv. not investment advice but it will be interesting to see how this plays out. Cheers and good luck trading!
Long
by Brodie_MT
IOTA seems bullish :)IOTA is an excellent coin to hold long term!!! Has big multiplying value potential with its amazing technology. It's fairly new and hasn't had any major announcements yet, they just had a conference which means at any random point they might drop some news on partnerships, upgrades and projects. Still announcements to be made about being added to exchanges. I personally am going very long term on IOTA because it has strong fundamentals, good dev team with a roadmap & I truly believe in this revolutionary technology. Possible that we will never see these prices again. #HODL.
Long
by Cryptonite420