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BIITCOIN: BTCUSD testing upper parallel and still vulnerableBitcoin: BTCUSD Got to sleep sometime unfortunately. Sure enough Bitcoin made its low at 6928 after making an initial low off the lower large parallel and bouncing it then came back to make a double bottom low at 6928 before doing what it was meant to...bouncing up to test the upper contolling parallel. Annoyingly, after trying to avoid getting stopped out of a good trade, exactly that happened, the first time for a while that Bitcoin has created a false trigger on that first break above 7135. Shit does happen, even with Bitcoin, sometimes. Anyway the levels given have been spot on pretty much all through this run up and back down (to the point on downside) so please don't be too pissed...we have to accept the occasional false break: no chart gives out perfect signals every time though Bitcoin comes close most of the time. Accept. Move on to next trade: we're pretty much at the next stage forecast in last comment, now: testing the upper parallel. Day traders will have bought off the predicted low at 6928 with stops below but will be taking profits here, forcing Bitcoin sideways towards the upper parallel where it should fall away from again when it gets touched (short with stop above for day traders' next play). Bitcoin will struggle here and it will become vulnerable to another sell off once it's touched the parallel at 7232. It could develop into another large down-wave from here, but doesn't exactly have to...still prefer to be short from the parallel with stop above when it gets touched soon now.This is still a space for day traders right now. For that to change from here that upper parallel needs taking out on upside, then on a retest it has to hold up as Bitcoin comes back down on next minor pull back (might not see it if a large green candle starts to form so this entry will need watching over if and when it arrives)...but if and when that upper parallel gets broken on the upside will be the time to think about going long again or increasing positions (ideal will be a break aove the upper parallel followed by retest which takes Bitcoin back down a little lower as it tracks the parallel downwards for a while before rallying powerfully). Until we see that happen this is still day-trading territory.
BITSTAMP:BTCUSDShort
by sumastardon
USDJPY Trade set-ups for this week's Fed outcomeUSDJPY A battle royale is raging between these two heavyweights, caught between the lines of near term support and resistance shown on the chart. The fight could go on until Thursday at this rate when one of those two lines should finally give way... It's OK to buy at 113 (with a stop no more than 20 pips away) but would still go flat again at 114.30-114.50 as it's now become such a big level, where fixed resistance frrom a triple top meets the dynamic resistance line falling from the highs. Not looking to short again from 114.3 because DXY is saying the break, when it comes, should be in favour of the Dollar, not the Yen. Therefore unless daytrading this pair needs watching over, awaiting the break (whichever way it comes) for the next worthwhile swing trade... Upside break for USD: USD needs to break above 114.3-114.5 to rout the bears and trigger a flurry buy stops and fresh buy orders just above here - a very bullish outcome - breaking through tough converging lines of overhead resistance in the process. This would create a medium term upside target at 118.1-118.6 for swing traders and a nearer term upside target at 115.3-115.6 for day traders. USD will be likely to fall away again from here, coming back to test 114.5-114.3 range one last time before rallying towards 118. Downside Break for USD: A break below 112.85 (first trade) should result in a fast test of 111.73 - then, only when 111.50 gives way can a more a prolonged period of dollar weakness be expected back to 108-107 range (second short trade) - ideal for swing traders, if we see it. Either way, there should be some good trades emerging over next 48 hours on this pair. Consider setting alerts for either eventuality...
by sumastardon
Slight Drop Ahead For UPSOn May 2, 2017, the UPS 100 day moving average (DMA) crossed below its 200 day moving average (DMA). Historically this has occurred 12 times and the stock drops a minimum of 0.531%. The median drop is 2.948% and maximum drop is 7.001% over the next 17 trading days. When we take a look at other technical indicators, the relative strength index (RSI) is at 52.3348. RSI tends to determine trends, overbought and oversold levels as well as likelihood of price swings. I personally use anything above 75 as overbought and anything under 25 as oversold. The current reading declares the stock is relatively neutral and may not have major sudden price swings. The true strength index (TSI) is currently -2.4060. The TSI determines overbought/oversold levels and/or current trend. I solely use this as an indicator of trend as overbought and oversold levels vary. The TSI is double smoothed in its calculation and is a great indicator of upward and downward movement. The current reading declares the stock is trending up. The positive vortex indicator (VI) is at 0.9788 and the negative is at 0.8750. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. The current reading declares the stock has been slowly cycling with crest to trough occurring in less than 14 days. With both indicators below 1, anything can happen. The stochastic oscillator K value is 66.0265 and D value is 77.6110. This is a cyclical oscillator that is highly accurate and can be used to identify overbought/oversold levels as well as pending reversals and short-term activity. I personally use anything above 80 as overbought and below 20 as oversold. When the K value is higher than the D value, the stock is trending up. When the D value is higher that the K value the stock is trending down. The current reading declares the stock exited overbought territory and should continue to decline. Considering the moving average crossover, RSI, TSI, VI and stochastic levels, the overall direction appears to be pointing down. Based on historical movement compared to current levels and the current position, the stock could drop at least 1.91% over the next 17 trading days.
NYSE:UPSShort
by StockSignaler
Ups Stock To ShortUps is looking good as moving in downtrend and if it breaches the Lower Trend line Then there will be a good opportunity to short this stock up with take profits @ flag UPS. United Parcel Service, Inc. (NYSE:UPS) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a research report issued on Monday. They currently have a $119.82 price objective on the stock. Vetr‘s price target points to a potential upside of 3.83% from the stock’s current price.
NYSE:UPSShort
by 2Smart2Trade
DOW Transports To Retest Recent Lows(Note: DOWT is no longer in a bear market after rallying the last two weeks) 2015 was suppose to be just another year of the epic bull market created by reckless central banking policies. Some Wall Street estimates for the S&P 500 were as high as 2,300. Me? I projected a contraction to 1,810 in mid-January. Whether or not the SPX will reach my target within the next 10 weeks, or so, is uncertain; but what has been quite clear is the scaffolding holding with risk assets around the global has been crumbling for sometime. In " Is A Storm Brewing? How History is Repeating Itself ," I was clear and concise in what 2015 had in store (posted Jan. 13, 2015): I support the idea that we are on the precipitous of something disastrous. Those who constantly look at underlying factors and notice the shifts in the FX, commodity and economic data are witnessing that the latest boom cycle is on its last leg. In essence, the post was a summery of the marco trends few wrote about because everybody indulged in the feel-good of rising stock prices. The post ended quite ominously: "2015 is going to be mercurial…" On March 26, I indicated that the DOW transports looked technically weak. Price action had been consolidating early in the year, much like the SPX. The index made several lower highs, higher lows and finally broke support at 8600. Nobody was even looking at the transports as a potential catalyst to drag the broader markets lower, even though that is historically the case. For instance, Cowen Group's Head of Sales, David Seaburg, said, as late as June 25 (after the the transports already began weakening underneath consolidation), "Everyone is up in arms about the transports, but the underperformance has very little to do with a weak economy and has more to do with the structural issues within the sector." Seaburg also said that "I DEFINITELY don't see any downside (broader markets) necessarily." Almost a month-to-the-day, not only did the DOW and SPX hit their first 10 percent correction in four years, the DOW transports fell into bear market territory. Awkward. Those that live by subjectivity, die by subjectivity. The broader markets did receive a massive bounce following the largest NYSE short-interest since the Lehman Brothers collapse, but the transports has been rejected twice from 8,250, or the 23.6% Fib. retracement from the 2012-lows. It's important to note that central bank credibility is fading fast, and traders will become more wary as the year winds down. Structurally, the index looks weak as earnings have been lackluster to not good at all. EMAs are showing bullishness on the daily, as they are sloping upward. However, a close above 8,250 will be needed to garner any significant technical buying in my opinion. Price action is within a large symmetrical triangle with price support of 7,970 cutting through the middle. This key, near-term support level could determine whether the index will test triangle support, which is supported by price support of 7,790. A confirmed close below the triangle support will cause transports to retest the 2012 ascending trend line. I expect fundamentals to continue to deteriorate into 4Q, and the transports to challege 2011's trend (between 7,200 and 7,300). Conversely, a close above triangle resistance could cause a rally to 8,500. Please follow me on Twitter @Lemieux_26 Check my posts out at: bullion.directory www.investing.com www.teachingcurrencytrading.com oilpro.com
DJ:DJT
by CommoditiesTrader
6
UPS recovering from large gap into daily demandUPS gaps down today into the daily unfilled gap and major demand. This kind of gaps are one of the best type of gaps to trade as this very often invite retall traders to add to the initial direction from the gap and is selling into objective high risk demand levels where price action has earlier shown an unbalance in supply and demand. This is a typical mean reversion setup with extensive stretch in price that is not sustainable without a frequent mean reversion movement. To get better RR I waited for the break for the consolidation on lower timeframe (10 min) that at the same time was an confirmation of that we possibly will see further strength towards filling the gap from today. Risk is off at RR 1:1 and risk free trading towards possible continuation and further strenght tomorrow.
NYSE:UPSLong
by MajorHunter