Unitytradinggroup
GOOLLLDDDDD!!!!!Interesting times ahead with all the talk of the next big recession on the horizon and many markets reaching ath's and taking big dives, governments falling deeper and deeper into debt, housing markets long over due for a downturn and the banks playing all sorts of buggery on interest rates.....
Its a little known fact that GOLD and other rare commodities can be a safe haven hedge during economical crisis, silver, oil, uranium, lithium etc
Gold has rising almost 30% since its retracement low late 2015 and is now IMO at a key level of break out, not just from an overall down trend but a key level of resistance thats failed to break 5 times since mid 2016.
As the global economical climate draws closer to boiling point i wonder if this will be the catalyst to cause a break out?
40% + push back to previous ATH in sep 2011 after the run up from the last recession, some 600% from the very start of the tech boom or ......dot.com bubble...
Interesting times ahead, but gold not just being a rare desirable metal but having many use cases in computer circuitry, jewelry, medical and aerospace engineering makes it not just a speculative market but something of real use case giving it an intrinsic value unlike...FIAT CURRENCY.
change my mind :)
LTC is it done yet?We have seen push after push on LTC over the past few months with plenty of signals for a retrace and just not getting it. We generally get bound up in a tight range after each pump and eventually volume spikes as the indicators chill out on the daily and we are off again to the next level of consolidation.
Our algo still spitting out exhausted trend signals as we tighten up into yet another range.
Anyones guess again weather we break down from this range now for a solid retrace from the overall uptrend, or we break up again for another run to the next target around .0209.
We will be playing this as a break out trade with 2 accounts on mex, when we hit support we enter a low lev long with stops below, when we hit resistance we enter a low lev short with stops above, either way the next move should be around 20% so we can afford to run a 5x lev either way have one stop at 20% while the other rolls to a potential 100%.
The other option is to run buy/sell stops but your going to potentially miss another 8% of the trade in that range..
Close the wrong trade on the break simple.
WALTONCHAIN WTC/BTC I see you ;)I always pay close attention to Walton and have noticed volume been building really well lately on its up trend which is a good sign.
We where waiting for a significant pull back to find an entry to push to the current supply level around 3700 or so.
We got it and had the break on the retrace last night for bullish confirmation, looking to double up again on a retest hopefully as the smaller time frames are showing a mini cycle pull back, but for now a pick up on the 50% fib and in the middle of the golden pocket will do for now.
272 extension is overall target for now with tp1 at previous high and move stops up once we are clear.
safe trading
VIBE do you see what i see?Ty asked me to have a look at VIBE again today after noticing some interesting patterns we have seen play out well before, similar fractal patterns that happen after we find interesting price movements like those random 80-100% pumps.
These can some times be from pump and dump signal groups that have plagued the crypto space from various influencers but some times it can be large orders being placed at accumulation phases when there is less orders in the book, some what of a test of supply liquidity if you will.
A large pump followed by a slow bleed as the asset can not sustain the move with organic volume and it returns back to a medium but with steady growth in an uptrend due to a large amount of sellers just been exited from the market.
again a second test which has moved higher and the uptrend still continuing, this can paint the picture of a turning point in the market.
we are now on entries off trend and waiting for a bush moving higher to around the 2000 mark at that next minor resistance line with a higher target of 2500 if we start to get some serious traction with a big volume increase on this break out over the 1300 mark.
Its important to understand other styles of trading and how they react to the technicals, a lot of traders in crypto are scalpers and one of the main trading strategies of scalpers is break out trading, not confident enough in the market or TA to make serious educated predictions so rather wait for the market to move and then jump onto the coat tails and ride the movement.
Although its a profitable style and waiting for that confirmation can be beneficial it generally moves you getting onto the trade to late and exiting to early as they arnt seeing the bigger picture or reading the market as a whole.
The next pump off trend could push us out of this wedge and see buying volume increase, we already know there isnt a whole lot of sellers above so it should be fairly easy to push past these levels to our targets in mind.
Its a moon shot but hey some times you got to take risks.
WAN!! lets do this Some of the boys last night spotted some bullish signals on WAN so we set up some lower buys last night with the anticipation that BTC was going to have a rejection soon as the current uptrend was exhausted.
Sure enough using our DCA strategy all three entries hit putting our avg entry at around 979.
happy with that so far although looked like there was some barrel scrappers there to be had but meh.
Stops now moved below previous wicks but happy to give it some room to breath.
Volume has been descent on both the 4hr and daily charts and retracement was healthy with a nice slow bleed over the past few weeks and having a few touched on the 618 total retrace.
our trading algo gave us some clear up signals with a descent target in mind of almost 30%
Looking at a few take profit levels at the moment that we will either exit % of position or move stops up as we go to try catch the full move.
Expecting this trade to take a few days to play out so happy to be patient with this one, not expecting huge price action over the weekend so maybe monday or tuesday for some interesting moves.
AION lets have another go at thiswe have already had a touch through supply from this previous chart and its reaching up for another go again, if we can breach this supply level and find support on it i can see another target of supply some 20% up.
Profit already taken on supply but looking for the break above and support before re entering, the volume is there but imo the indicators need some time to cool off so expecting price to be held around 380-420 for a while before making its next move
QTUM/BTC nice looking trade setupAnother one with a pumped volume thats sustained a steady uptrend is QTUM, we have made some trades on this already as we picked a giant inverse H&S weeks ago waiting for the neckline to break, we did break but was a couple of false starts as we walk closer up trend to crunch time.
On the smaller time frames we have some time to retrace back to trend so only a small position taken so far with more orders back on trend and some lucky dips just below, if it has no chill and wants to run....so be it.
35% to first major target before a cool off period, with final target on the larger more bulky supply level at 1200 for a juicey 80+% total.
May need some time to get that final target but those tests in the books tells me it should move fast once we can close above the neckline.
If we break trend and start a downtrend then we out for now but looking for a reentry as i believe this wants to go.
OmiseGO finally playing ball OMG/BTCThose who have been in our trading group since inception knows my attachment to OMG and the way i have studied this chart for some time, one of only a few crypto currencies im actually bullish on long term to deliver fundamentally.
We have been chasing this bottom for literally months and ill post some charts in the comments to show what we where looking at all those months ago.
Picking up bags nice and low we have been trading this for some time in small bursts looking for those impulse moves to sell and add to positions on pull backs.
Well OMG has finally come alive and it deliverying the goods as we move closer to our first major hurdle which is the supply zone at 50000 sats.
We will be using ICHIMOKU on the daily for most of the long term trend to let us know when its due for a solid breather.
Our trading algorithm has been giving us take profit signals and exhaustion in the current up trend and i can see why as we have had a healthy retracement, but im seeing one last push to tap this supply zone in the next week or so.
Currently with a few touches on the 618 with a nice reaction to the touch wicking up with volume and adding to our position once again currently a good 35% in profit after a few swings so we have plenty of room for a buffer to let this push.
we may see some consolidation here for a few days to let the indicators settle down so we will be paying close attention to the 618 holding then watching for the break in trend off the retracement for the next impulse move.
EOS's next big move is comingEOS has been consolidating nicely in this zone for a few weeks now with plenty of orders taken as we tighten up with volatility.
i can feel an impulse coming very shortly maybe waiting for a catalyst like btc making a more or something.
Can see over all fib retracement levels playing effect on current movements and running trend based fibs to set targets on this uptrend lines up with some key levels for potential reversals as we hit fib targets on the overall down trend retracement levels.
The fact we have broken supply level (circled) tells me there is a strong potential we climb to the upside here from this squeeze.
Expect some volatility on bitmex if your leverage trading EOS, but may not be as harsh of moves on binance for example.
If we can break supply at this current level then we may be looking for another lower low on the next wave around 7589
Taken a punt on this with a small position already but the break out from this wedge should give us a better confirmation.
ZRX delivering the goodsZRX is one our crew has been trading a lot over the last 12 months, its been in a strong down trend and to be honest we had lower targets in mind for a strong buy but its started to consolidate and build a new v bottom over the last month which is getting strong, now making higher highs and higher lows, i can see an EW set up building as well, this push which we are in from the bottom we are looking at an exit at the 1.272 extension and a re buy on the retrace and running the last leg up if it can hold support around the 7260 mark.
Volume is increasing really well although sitting above the medium on the CCI i think this will have legs with the current volume.
Have to keep a close eye on BTC though in case we get some big red candles then we might take the risk and move our stops up to lock in profit take and look for a new entry if it falls over.
If this bottom stays strong in a btc down trend then im confident to load back up on demand.
STEEM trade set up?Got my eyes on some STEEM at the moment, its had a great few months spitting out some great trading opportunities and confirming these supply levels already.
We can see supply created back in November last year with the drop out of that large consolidation area before the market made a decision, this was acting as a solid resistance for the past 5 months so far with a few attempts are trying to break with very low volume so not really having the grunt to bust down those layers...it just wasnt ready.
However over the past month we have been building a nice steady up trend and the last impulsive push managed to break that supply zone now opening us up to the possibility to push higher.
Its since had a healthy retrace but i believe it has a bit more of a bleed left in it yet and as BTC looks as though its about to make a decision out of this range, we may get a nice low entry so im happy to put some luck dip buys a bit lower and extend my stop loss to give it some room, BUT for the sake of the chart im going to place my stop in a zone thats easy to understand for now just below the 618.
This may take some time to play out but its looking like a really nice R/W:R for a descent potential 50% on over all run but there will most likely be a potential to swing the move up.
i can see a level of resistance at that last previous top around 1446 and the higher supply around 1621 is my current area of interest although i will be trading this for a month or so unless of course it delivers the goods much quicker :)
CCI has some time to settle but still room to go for another run soon, and volume although retraced on the price action is still climbing well which gives me confidence in this having the legs to run up.
will keep this one updated over the next 2-4 weeks.
BTC ready to come back down yet?Bitcoins uptrend has been sturdy and held its ground even after numerous reversal signals but i think its just about done for now.
Exhausted up trend and selling volume starting to take over now after weeks of low volume indecision with slight buyers bias.
The volume is still in a steady decline and as the sellers take over i believe we will start heading back to major support levels.
My first target for the down trend is the 50 fib line which is a fairly heavy support on the daily around $3750
The break in trend coming will trigger a lot of stops and leverage traders confirmation to short so expect a harsh candle when/if we break.
Expecting alts to follow suit so looking to close alot of trades over the next few weeks and play the mex game again.
AION setting the foundations for a IH&S?Im starting to see a really nice V bottom and an Inverse H&S building on AION at the moment, this swing imo is done so we should see a retracement here to build the right shoulder.
Looking at that right shoulder for an entry here, around 300-320.
will just walk the stops up as we come up to that neck line which to me looks like a supply zone thats already compromised, if we break we should get a descent impulse move to the next level of supply around 380 or so, thats where ill be looking for an exit for most of the position and let the rest run with stops in profit.
If it still looks good at this level i may buy back again on a small retrace, but thats something we need to wait and see.
ICX going to have another shot ?ICX been a good earner for us over the last few months and after the last week or so we started to get some solid bullish moves that have been very profitable for us.
We wanted to give ICX some time to bleed and settle down and hopefully hold onto a level of support where it was which it seems to have done.
We slowly consolidated and worked our way into a nice descending wedge forcing us to the overall trend line once again.
Looking to trade the break out off trend to shoot for that supply target again, this will be a key level to break.
2 potentially scenarios, we get rejected, double top and drop back to a lower support.....or
we break this supply level and find support about this level and get ready for the next impulse move as we continue on this bullish trend.
Volume has dropped off on this consolidation which is pretty normal and is what generally helps to form those descending triangles are volatility gets lower.
ADX/BTC potential spikesADX has a low supply and often pumps with a slight volume increase.
Currently the daily volume is rising and we have already seen a couple of very volatile pumps, i can see a few lines of trend being respected and currently price sitting on a level of demand but has already been it a few times, there is a chance we will fall to the next demand zone but hoping it gets wicked up quickly to stay with in this pitchfork channel.
40%+ push back to the top of the pitchfork but each limit line will be a level of resistance so have your own game plan on how to trade it.
If the current pitchfork trend breaks then i dont see this exact set up working.
OMG what are you doin?We took an entry off this support the other day, although still in a down trend we are optimistic of this retrace turning into a mid term reversal.
I can see a short term supply zone here between the 50-618 retracement from that last drop so imo thats going to be the area of interest to break, if we get indication that we cant push through we will drop our order and look for the next leg down for another entry, if it breaks through creating a higher high then this short term down trend could be coming to an end and we can continue to the upside in a much larger overall uptrend.
ICON will it have the legs?ICX has been good to us lately how ever we dropped our trade at that level of resistance there at 750 a week ago with the intentions of buying back on a descent retrace.
It didn't drop far or have any major reaction to the BTC dip the other day and bounced off the 38 already and is already testing those highs again.
We may have to run 2 different strategies here with this, if we can break this last high i can see a fairly impulsive move to that level of supply purely because of a lack of market structure to the left so i will be looking for a break out trade and trying to catch that last 30% or so.
On the other hand on the smaller time frames we could be heading for a double top rejection here and heading back down for that retrace we are after and hopefully its descent enough to come back down to around the 6300 sat mark for a nice bounce off the 618.
CCI looks like it may be geeing up for another push but it also needs a cool off from the last swing high imo.
SKYCOIN your to good to me :)Skycoin has been delivering the goods to myself and our members for weeks now as it seems to be stuck in this descent ranged channel.
Not a whole heap of TA to base our trades off apart from obviously a level of support and resistance that sky is struggling the bust.
Its quite simple really we just ladder buys with in the demand range and ladder our sells in the lower supply, but we hold onto a cheeky bag to drop high in case we get another one of those 25% spikes which we got again just the other day :)
This is an "at your own risk" type of trade but like i said we have been doing well off this over the past few weeks now with around 30 completed trades ranging from 4-8% and a couple at 25%
BTC/USD on the dailySome interesting daily candles over the last week has had me changing my trading strategy a number of times now.
At first i was expecting a descent retrace from that 4200-4400 area that would potentially kickstart a new down trend, but what we saw was a very harsh sell off which through what i was seeing out the window to some degree.
Over the next few daily candles as we where hold up in the range we saw some nice alt action which has been great to trade, some long wicked candles on btc but still closing with small bodies.
A wick down touch on the 618 on the overall uptrend which is expected at first.
As that consolidation printed its 7th consecutive indecisive candle i could see a descent move coming up, and although my gut was telling me down IMO it was still a bit of a coin flip with the previous markets movement so i stayed out and let the market tell me what it want to do, in saying that i missed out on a descent short but thats ok "cant win them all".
Again price being held above the 618 over all retrace and we have just been given a bulish engulfing today which is a bullish sign, HOWEVER imo its a bullish sign inside a down trend that had not finished or was showing signs of a reversal.
Im seeing a few different outcomes here and will base my trade as they play out, if this bullish reversal continues with some more organic volume (which it doesnt have a lot of right now) then a push to retest that 4200 zone may be on the cards.
Right now the 38 fib line is holding price down so if there isnt the numbers in the bulls we may see a failed reversal and a rejection back down to a lower fib level potentially the 786 area.
if the 38 level breaks up the next level of resistance will be around the 236 mark at about $4000 (also a psychological round number) again if there is a rejection here i can see us testing that 618 once again.
At the moment im going to be playing the smaller time frames and looking for signs of a break in trend but for now im happy to stay in btc and let it walk its way back up to 4200 to test that high.
I wont be counter trend trading on leverage against what i believe is still a down trend in play.
DASH/BTC flagging up ready to make a decisionDash has had a good steady increase in volume on the daily and after the last push its had a nice healthy retrace forming a descending wedge and respecting the fib levels with a nice bounce off the 50% and now holding onto the 38%
have entered here between the 38 and 50 but have laddered buys down to the 618 incase we get a lucky dip or this wedge takes a little longer to play out, stops below the 618 but have plenty of room for a wick out.
shooting for the 1.272 extension which i can see a supply block there thats been respected and rejected there a few times already, playing it safe for a 12-15% push.
BTCUSD on the dailythe markets printed us a nice big bullish engulfing on the daily almost hitting our final target for this 3 wave push of 4200.
still not over yet so we may get there over the next day or so, how ever our algo is spitting out some take profits now.
depending where you draw your fibs from the 38 could be a solid rejection around 4400 which lines up with a strong rejection from a month or so ago.
right now we are sitting on our hands and waiting for a rejection around 4200 area.
daily volume still steadily climbing but cci getting higher and higher with out a solid swing low on the daily so expecting this uptrend to either come to an end or atleast have a heavy pull back soon.
that daily reversal signal is where we will flip our bags and turn back into the big old bad bear ggrrrrrr
ICX/BTC scalp break outWe where keeping an eye on ICX over the last week with some healthy trades in this range which started to tighten up last night.
A small entry off the bottom of this range and we have now broken out of the pannent.
We are finding resistance here at the top of the range which was expected but hoping to see price hold about the down trend line. if so we will stay in and shoot for previous high.
If we fall back down below the white line we will stop out and look for another entry back down at the bottom of this range .
so far 4% shooting for 11%
