Rising channel on JPY exchange suggests bullish price actionWe are seeing a rising channel in the Japanese markets suggesting bullish price action to come, this could mean a jump to 6500 is more likely than i previously thought, keep your eyes open
BTCJPY trade ideas
I'd short now but..... Lets see how it looks in the morningPaper traded sell.. lets see.. good night (tokyo time)
FXBTCJPY bitFlyer (Bearish Divergence?)Some on twitter are bullish. The general sentiment seems to be bearish.
Patient... Patience...
The recent pump looks to be facing resistance. Will it breakout?
A breakthrough of the 50 RSI seems to be a safe indicator of trend reversals.
Meanwhile, I'm bearish.
Possible Bullish scenario?I believe we'll drop out of the small descending wedge and make one final drop before having a strong reversal and going above the ichimoku cloud where there daily resistance is very weak.
I'm not a professional trader or anything, so please just look at this as entertainment, nothing more.
BTCJPY bull action incoming?South Korea country will be easing the tight hold on crypto trading currently in the country. This could be the case in more countries soon which should help bring more investors in the space.
We finally have some bullish action today with a bullish engolfing on the daily chart. Of course we still need to wait for the close to consider this candle but it looks possible to close bullish here.
Checking the lower timeframes, I would say its healthy if we retrace or consolidate a bit first.
It is possible we go sideways from here and travel up to the top of a larger triangle to be drawn from this last low. Even if we do, I would expect some retracements to come in for sure before reaching ~ $8K.
The 0.50 and 0.618 fibs which I consider healthy retracements fall on previous structure, the 200 Moving Average is climbing and could provide local support here.
As we are definitely not in a bulltrend yet, I am interested to see if we start trending up on the lower 15 min timeframe here.
$300 - $500 swings are not out of the ordinary here, stay safe
Lets wait and see where we go next :)
The correction should continue.I hope for not resuming here harder downtrend. Only correction is that what i want;)
Three targets for this upmoveLook at the orange lines (they are logarithmic targets for the triangle -20% of logarithmicly measured upmove length - because market often not fulfil the formations in 100%)
Did You know this system?Settings made by me for 4h BTCJPY Bitflyer chart with 0.05% provision (i think this provision is used by Zaif likely).
Of course there is no need to play shorts (much riskier in case of spikes up with no sl on short position even with no leverage. in long position case there is no need for sl without leverage), longs should be profitable on longterm basis.
I have similar neural network based system, but as i found some glitches with it, i share with You with this simplified system - based on laguerre rsi indicator.
Settings: 0.3, 0.6, 0.4, trade size: 50% of equity (but in case of only long playing can be 100%) and provision 0.05%
The main thing is to find good start point for strategy like this or start now and have some losses if downtrend will continue after some spikes up.
Many says however that trading systems like this are prosthesis for bad technically and mentally players, but i dont care what other say;)
Other thing is provision rate. In case of higher provision this system could turn your account into zero very fast.
Example of Ascending Scallop and down break on BTCJPYHere's an example of BTCJPY with an ascending scallop and down break. The price target is the valley of the pattern to the top of the pattern taken from the bottom of the pattern.
This is the full price target, whereas the measure rule is 0.25*the price range.
Cheers
Weak Market does not trade near resistance for long....Possible breakout if price crosses above drawn trade line on 1H chart...
If crosses downside.... prepare to accumulate more near 7k $
3/25/2018 BTC(FXBTCJPY) Analysis My peer traders have informed me that the price action is currently following the chart on FXBTCJPY. (Which explains oddly-off S&R Levels)
(1) This is an assumption that we are currently in a ABC correction to previous downward motivewave.
(2) From smaller cycle, I am convinced that we have reached out Wave 5(Up trend) and we are seeing ending(or leading) diagonal typically found in Eliott Wave 5
(3) This is not about where you should be bull or not. Based on how the scenario goes, you can trade in accordance with trend.
(4) However, I believe that Grand Cycle wave C is imminent and the price is likely to push down further.
If you have any questions regarding my analysis, please leave the comment on this post.
fxbtcjpy h&s idea. 4h time frame1. rsi and obv confirmed doubletop : sell sign
2. at bitfinex, couldn't break 8700usd. assuming 8700usd as a neck line, we can drow h&s pattern neatly
Short Term Bullish? One Leg Up? Maybe. Here's Why.Circle bought Polo.
Coinbase dropped a 1099 bomb.
Every 5am Asia Volume picks up.
Lets see if it's enough.
Theres no clear call here.
Bitflyer FX Premium Over Bitfinex v2Added high/low price lines to better represent the premium on higher time frames.
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