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Short Term Profit Trade Idea - Check Stop Loss and Take Profit!Sentiment: Bearish (short term) Entry Price: Orange Line Horizontal Target Price: $42,000 Take Profit Price: $42,500 Stop Loss: $45,100 (just above resistance) *using Pionex reverse leverage grid robot, which lets me lock up my BTC and loan 5x USDT for my trade. I control the amount of grids and profit/loss per grid….highly recommend. Switching over to Margin grid as soon as BTC bounces off the support of $42K. From $42K, we are looking at target price of $50K-$56K with new support at $45K. Buy Dips and Eat Chips.
Short
by Fabreezio
BTC UpdateBTC, crypto and global markets give a good bounce in the last 24 hours after Biden's conference last night, as well as no more negative news from the Russia/Ukraine crisis. Must watch the crisis very closes as any news will affect BTC price. FED interest rate is another factor that can create speculation in the market. On chart we can see BTC broke the downtrend resistance and is now at a new resistance line at $39k and has a bullish MACD. ETH.D is up, BTC.D is down and MCAP is up, this is good sign as it shows more money is flowing into alts. Trade the range, trade safely.
by sebastianjohansen
2
ETHUSD SHORT ***UPDATE***Opening up a short position near the cloud was a risk and if I had not identified the cloud I wouldn't have pulled my SL. Thankfully I did adding more contracts in the cloud which is working out but to be honest was a dumb idea. The reason being was BTCs leg down was predictable as the cloud moved down on the daily and some of the divergences were pointing that way. Playing the alt game on short or long trades with leverage (Low Leverage) you always need to keep in mind what btc is doing. I will keep the short open however if we close in the cloud today I will pull the short for a small loss, I would rather take a small loss than being chopped out by the cloud. Under the cloud we could see some upward momentum but the sell off most likely will reject us out and back under the cloud. I will not readjust the time frame as it would be a waste of a trade to allow it to leave it open past this time frame.. This isn't the best trade it is extremely sloppy but fighting through it. These were just some thoughts on the short. "It's so messy." -Kewlkat
COINBASE:ETHUSDShort
by kewlkat
A small overview of #Bitcoin | Update for previous analysisI tried to briefly describe this situation. Formation in the form of a cup, or a decrease in price through a descending channel. At this time, in the short term, you can look for patterns in the short, because the candlestick analysis indicates the average weakness of the buyer. Given the structure of the market, you need to slightly reset the long positions, as well as give the opportunity to average the position for those who opened short yesterday at a price of 42000-41500. Thus, the belief in continued growth will disappear, and liquidity in bitcoin in a short position will become even greater. As in the previous analysis, I will only look for short positions when the price falls below the level of 41300 and stay there on the 4 and 8 hour timeframes. In the meantime, a local short, as indicated on the chart
Long
by AzurTrade
CPR monthly levels quick updateWe are currently above the 3 monthly pivots. In order to confirm we are reversing the trend, at least for the short term, we need to confirm the top pivot as support. Going below the pivots could potentially invalidate the trend reversal. The current candle is the most bullish thing we have seen in the past 3 months 100% The next target is 46K which is the first resistance from monthly CPR for Feb and the most realistic target if we managed to confirm the pivots as support (white lines). Make sure you understand that the expectation for "trend reversal" is not necessarily to produce a new ATH. The short and medium term expectations are only the mentioned levels and 46 could perfectly become a dead cat bounce. After all we haven't had any relief rally and an extension of the bear trend in the weekly could still remain intact even if reaching those levels and the failing to hold.
INDEX:BTCUSDLong
by TheTradingParrot
BTC weekly and daily outlookStarting with the weekly we can see that the price has managed to pierce the Kumo cloud and is now retesting it with a low volume candle. The fact that we managed to pierce right through a moderately thick kumo on the down side would mean that we can do it on the upside aswell but for the time being this doesn’t seem to come even close to be true. We are at the end of the week and we basically lost our chance to engulf the previous candle. The fact that we are shy on retesting the kumo could also mean further continuation to the downside. The white trend line There are two ways to drawing ascending or descending trendiness. And that is with wicks or without. Either way you trace this ascending trend line , the price action is still below it. This trend line was previously support and will act as a resistance in the future, probably in confluence with the 41.7k resistance level Weekly sentiment is mildly bearish. Daily outlook The daily chart is looking slightly bullish, however the momentum simply isn’t there . On this chart we can also note the resistance levels along the way, the closest one being the descending trend line that is so visible even a non trader would see it. Possible whale play would be to try to push the price above this trend line in a fake out , and taking all the liquidity left at the surrounding levels. This market is tricky ill give you that, BTC is encountering inflation like never before and a lot of fundamental uncertainty.
by SublimeTraders
UPDATE: USDCAD [D] Technical Analysis & Top-Down [BUY] [190122] Good Afternoon people... Hope you all had a good weekend Here is an update for the recently posted USDCAD Technical Analysis ... The Buy-Order was triggered @50% FIB of the Pin-Bar Currently trading @1.260 zone - This being my initial target for a 2:1 profit. This being marked out on the updated chart as a relatively new resistance level. With a Daily close above this - I will be looking for a re=test as Support and to scale-in. So, a shift of the stop to break-even and the addition of further risk to capitalise on the current profits. Although, this is just an idea and something I always look for when possible. There are PMI USD News/Data releases @14.25 - A possible Banana Skin :/ Further updates to come... Thanks for tuning in people and the likes are much appreciated.
Long
by fxhole_
UPDATE 3.0: USDCAD [D] Technical Analysis [BUY] [190122] @4:1 Good evening people… If you have been following my initial trade idea for the USDCAD on the Daily chart Then you will be basking in the joys of the progression of this particular trade. It’s been just over a week since the initial idea was posted and we are currently at a 4:1 profit Backing up my reasons for keeping the Target Profit afar when the trade is placed So, over the last couple days - I have began to manage the trade With stop was moved in to a profit zone @1.255 Additionally, upon price closing above the 1.263 zone Price returned to this zone and formed a Pin-Bar - Although I did set a Buy-Order at the 50% FIB retracement of this Pin, It did not trigger. Therefore, marginally missing out on further profits Either way, I am very happy with the markets upward progression. With this, we should be targeting the Resistance @1.276 before any decision would be made to close out or hold the position. Reaching this Resistance would provide us with around a 5:1 return on this trade. This being over a period of a week or so. Once again - Much love for tuning in …
Long
by fxhole_
2
UPDATE 2.0: USDCAD [D] Technical Analysis [BUY] [190122] Hello People - Just another update... After reaching the highs of the 1.27 Resistance - I think it is about time to move that stop up to a break-even. Currently, price is sitting at a healthy 2:1 profit Yes, over the days trading, price has become slightly bearish, but we have to stay positive on this one. From the Weekly TF, it does look like a correction for the long-term sellers - But, I am not one of those - Hence my Long Position Looking at the updated Daily Chart - You can see the identification of various theories to support this Buy for a further upward progression. Such as; Price has closed on the daily above the 1.262 Furthermore, yesterday closed as a test as new support Also, and after extensive viewing of the Daily Chart - It has been found that there are a number of areas that provide evidence of a Chart Pattern - But, with a difference [B ut, only because this is an update, which is now a free trade] On the Daily, I have found that over the last year Price has retraced to the 50% FIB on a number of occasions and always when the market is in a strong trend Moving on to current Price Action and the Temporary S&R that I have marked out - We can see that the market is currently testing the 38 FIB Personally, I am thinking the market will retract to the 1.258 zone [50 FIB ] and return to pushing north of the chart In this case - Ill be looking for some Price Action in the form of a CS Failing that, and a further bearish progression would permit a review the position and update the post. Thanks for tuning in people - PEACE OUT! ...
Long
by fxhole_