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Trigger

Storj Coin Action TimeStrorj has been steadily declining since 3rd of may, and already lost 70% to the USD. Price has moved down from $1.33 to the $0.4 low. STORJ/USD almost reached the 127.2% Fibonacci support level at $0.38, but failed to couch it. In any case trend remains bearish as price still moves within the descending channel, and recently rejected the upper trendline, suggesting the continuation of the downtrend. At the same time it seems that currently price started to consolidate, between $0.4 support and $0.55 resistance. The range trading could continue, but the interesting timing is the 4th of September, which is 8th period of the Fibonacci Time Zone indicator. Around that day, price might start showing some signs of a trend which could help to reveal further direction. There are multiple scenarios that should be expected, but only break above the resistance or below the support could be the trigger for the next STORJ move. If $0.38 support is broken, price is likely to go down further, to test 161.8% Fibs at $0.12. But if the resistance is broken, this might be the first sign of a potential trend reversal.
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by CryptoPAMM
ETHUSD: Short Squeeze Setting Up. Can Lead To 490s.ETHUSD update: This market is poised to rally. The break of the 443 previous candle high was a long trigger. I am not calling any trade ideas on here because that is what S.C. is for, but I will highlight the potential. Price went as low as 405 which looked ugly, but the key is how the candle closes. This candle that established the low closed strong, and it this materialized off of the 423 reversal zone boundary. A bullish sign to say the least. I have been writing on S.C., that these markets are bottoming, but it takes time and a lot of patience. The structure and location have been weighing probability on the side of strength, even in the face of the recent bearish price action. The current low of 405 is not dramatically lower than the recent 450 swing low. Along with that, all of this price action is still occurring well above the 374 historical low. This sums up to a broad higher low formation and BTC is doing the same thing basically. If these markets rally, a short term expectation is at least the 490s for this market. That is a conservative view since the short term bearish structures are still intact and must be considered until they are taken out. In summary, broader structure and location are panting a picture of reward/risk that is skewed toward the bullish side across these markets. The bearish structures that are still in play suggest conservative expectations would be most appropriate for size, target and stop. Remember that market bottoms are a process and take time to develop. In that process lows can be tested and retested before any meaningful progress on the long side unfolds. Any new swing trade long ideas that we take on S.C., will be shared with our followers.
BITFINEX:ETHUSD
by MarcPMarkets
9
Look for EURAUD short trigger hereEURAUD is inside shadow pre-identified in previous post. Goto back story for basis of this discussion. The boundaries of current resistance/shadow zone are 1.5717 and 1.5618. Black candle last Friday is a price reaction or rejection to this zone. Since today is up we have luxury to wait and see if another rejection in the daily chart. Window panel below shows CCI with period setting 14. CCI already touched and rejected 100. If there is a concurrent rejection of 1.5717 by price candle accompanied by another indicator rejection at CCI=100 then this could be trigger. SL would be placed above high of black candle last Friday of this a new high is created before the trigger appears.
by colonelkink