KhingKhaleb

KhingKhaleb

Dollar Yen is currently in a downtrend. It has recently been rejected from a recent high of 147.770 to a recent low of 146.875. I will place a sell-stop order below the counter trend line at 146.929 and aim for a 3X profit target at 145.101.

KhingKhaleb

I will take a short position in this market as the chart correlates with $Bitcoin and all altcoins are dipping across board.

KhingKhaleb Updated 

Bitcoin has declined -20% from a high of $48K and hit strong support at around $38,530. The bears seem to have run out of steam and the bulls are back in control. Bitcoin price has met a minor rejection at around $41,720. I will set a limit buy order one tick above the high of the previous candlestick to catch an upside breakout and set a stop-loss around $39,490...

KhingKhaleb

Bitcoin has seen a rejection at $45,478 and is likely to see a correction of around 10% along the corrective wave of the current trend. Bitcoin may dip to $40k and see a huge bounce off to around $47k.

KhingKhaleb Updated 

Despite the war between Russia and Ukraine, bitcoin has managed to break out of its descending broadening wedge formed on the 1hr timeframe. Bitcoin will likely trade within the range of $37k and $39k before hitting my conservative profit target of $42+.

KhingKhaleb

Bitcoin is forming a  Doji pattern in the 1-week time frame. The Doji candlestick pattern represents indecision amongst traders and can sometimes foreshadow a trend reversal. This current Doji candlestick pattern that is forming at the time of writing is a result of the ongoing dispute between Russia and Ukraine. the candlestick still has 10-hours to close.

KhingKhaleb

Bitcoin has rallied from a low of  $32k on24 Jan '22  to a high of $45k on 04 Feb '22. Bitcoin hit resistance at around $45K sent it back down to a recent low of  $39k which is a higher low compared to the low of the day on 04 Feb '22. Bitcoin is currently sitting at a  discount level of 50% on the Fibonacci retracement. Bitcoin price can still dip to  $37k ...

KhingKhaleb Updated 

IOTA breaks out of resistance with price making higher lows after a strong short-term accumulation (Accumulation1). I will wait for the price to retest resistance and bounce off from previous resistance becoming support before I go long. I will place my profit target at Accumulation2 where there seems to be strong selling pressure.

KhingKhaleb Updated 

Bitcoin is consolidating towards the trendline for the fourth time, price is being rejected each time it comes close to the trendline. There appears to be good volume each time the price dips. I will go long when the price breaks above the trendline with strong bullish momentum and look to take profit around $45k.

KhingKhaleb

BATUSDT pair has dropped by 52.04% from the price of $1.36 to $0.65. The downtrend line has been broken around $0.85 and the price has been consolidating around the point of control. An accurate buy opportunity is above the point of control that has been broken. My conservative profit target is around $1.06.

KhingKhaleb

Bitcoin is consolidating towards the trendline for the fourth time, price is being rejected each time it comes close to the trendline. There appears to be good volume each time the price dips. I will go long when the price breaks above the trendline with strong bullish momentum and look to take profit around $45k.

KhingKhaleb

Mechanical trading systems are systems that generate buy and sell signals according to a specific set of rules that have been programmed in the system. It replicates a trader's trading plan and can also send buy and sell signals directly to exchanges. The components of a mechanical trading system  include: - Entries - Entry Stops - In-Trade Stop - Filters -...

KhingKhaleb

Market structures also referred to as market conditions are the simplest form of price movement in the market.  Market structure is a simple and basic form of how price action occurs in the market.  Price action in the market is always in one of these four market structures. - Accelerating Phase - Distribution Phase - Decelerating Phase - Accumulation Phase...

KhingKhaleb

Market structures also referred to as market conditions are the simplest form of price movement in the market.  Market structure is a simple and basic form of how price action occurs in the market.  Price action in the market is always in one of these four market structures. - Accelerating Phase - Distribution Phase - Decelerating Phase - Accumulation Phase...

KhingKhaleb

Balance Of Power Between Bulls and Bears: Price is currently forming a bullish chart pattern and bears seems to be running out of steam, MACD histogram is currently below the center line and ticking up - this signifies that bears are running out of power. Entry Game plan: We can wait for price to break above 0.0050 SAT and carefully observe the strength...

KhingKhaleb

Short term bearish bias Price is currently trading within a descending wedge pattern. I have a short term bearish bias that price will drop to $25k or further down to around $21K before the market reverses.

KhingKhaleb

LONG Go Long when price bounces off from support with a bullish candlestick.