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Finding support on the 200 week moving averagethe BLX chart has the cryptomarket charted since 2011 and during that charts entire existence we have always held support above the 200 week moving average (in blue) We have now touched it again and are seeing a relief bounce....judging by the weekly stochrsi we will likely see a nice bounce here. However I think t his rally may be temporary I think we may ultimately maintain support on the 200 weekly moving average but we may revisit and throw a wick well below it for our capitulation candle (around february) although we may still close that capitulation candle above the 200ma as well. A good time to be long temporarily but remember we likely haven't seen our capitulation candle just yet.
BNC:BLXLong
by DrDovetail
$BTC LOG SCALE ON COINBASE FAT BEARIf you look at the daily Coinbase chart and switch it to a log scale chart. Then you will see that the uptrend is stronger than you thought but you will also see that we have been in a Bear market since price closed below the 200 EMA back in January of this year. I have been told that many long term institutional investors use Log Scale charts -vs- standard Linear Scale charts when they are making TA decisions. Either way I feel that it is in my best interest to try and swim in the direction of the current. With that being said institutional money has been short since last December when the $BTC Futures contracts launched. Who do you think ran the price way up to $20K just so they could short it at the tipsy top? Every week since they have been short, balance heavy in the futures market so until we see them swing their positions to the long side then I feel that we are looking at more downward pressure. Not only do we have problems with several adult man children fighting over their toys ($BCH Drama) but their is no one with a vested interest to defend $BTC at this level. What I mean by this is, when the CME and the CBOT decided to launch $BTC futures contracts then on that day they started buying physical $BTC and how many years did it take them to stand up their products? How many years ago was that? The institutions are into $BTC much lower than many would think so don't be surprised to see $BTC slide to $1,500 or lower. Just my 2 nickles. DCA + HODL = Success. Viva La Crypto!!!
COINBASE:BTCUSDShort
by dipdizzywizzle
OMGBTC good signal to buy chart No1Technicals only I think market didn't move after it bounced second time from the 50000 area. Wick of the candle touched support created by bodies of candles year ago. Double bottom is spread which gives bigger chance that the rebound will be stronger. It is still good time to enter market as the risk is very low. Also 50000 is working as psychological support/resistance area. I set TP around 90000 or if the pair touch 200 Ema then trade should be automatically closed unless you are expecting massive movement. SL around 45000.
OLong
by Krystiannwk
CADCHF long position Pair is constantly rejected when close to 200 EMA and GAP's from daily chart. It is very probable that any pair after the rapid movement on daily, weekly, 4h scale will move further in the same direction. The upper GAP(darker shade of blue) is holding recent attempts and created solid support/resistance area. This are will be breached in near term and it should create nice support for further gains. The other highly probable scenario is that the pair indeed will go beyond recent highs but it will pull-back shortly after and move towards south. For safe trade I would recommend R/R close to 2:1 which is based on current price and is marked with very green rectangle.
Long
by Krystiannwk
NZDJPY short Pair is in downtrend for at least year. It created visible channel which trapped the pair in August and since then it is bouncing from two levels 75.50 and 72.50. If I would look for psychological levels I would rather go for 75 and 70. What is telling me that the pair has good chance to follow described scenario: - trade is following recent trade - GAP from daily chart is respected by market(blue circle) and successfully stopped bullish movement last Friday - 200 Ema also successfully stopped bullish move with fancy doji candle. - it is very common for market that when pair is trading in channel upper and lower parts are creating very strong support/resistance area. - I choose TP area wisely and it is set in 50% of channel. It is reasonable and it still gives us 3:1 R/R. Cons: - there is actually one and it is big bullish candle which are often suggesting further up movement I think it is worth risk and if it happens that the Yen will be loosing on value in next week then I will set up trading plan accordingly.
Short
by Krystiannwk
BCN waiting for good opportunity Part 2 of 3BCN finally dropped close to 30% which is good news if you are waiting for the enter as I do. BCN is approaching the first buy level which is around 15 +/- 1. It is hard for me to say if the BCN will go below 10 or stop at 15 or maybe go down to 5. BCN is solid coin and volume is rather big so I think another price spike will most likely happen I would not set any SL for this position. There is possible that the pair may drop to even 1 but it may be veery short lived and value will skyrocket but your position will be closed. Trust me this is the situation you want to avoid. look at the weekly chart it seems that the 200 ema decided to show up. I think it will be not bad idea to set buy order close to 15 at this stage. If the pair will dive deeper there is another good entry level close to 9.
B
by Krystiannwk
3
USDNOK setup for short positionIt is set-up for short position based on the following : - recent bearish trend - ABC pattern where C stopped at 0.786 which is bearish sign - Pair is trading below 200 EMA - These blue rectangles are showing GAP's from weekly time interval Things which are suggesting that this trade is risky: - for the last 4 years this pair is in bullish trend - on daily chart it bounced from 200 ema Decide for U'rself if this one is worth the risk. R/R is not decent but it is alright If U'r MM is on decent level I assume it is worth a risk but if U don;t have solid MM then I would suggest to avoid this trade as it can wipe U'r account out.
Short
by Krystiannwk
MXNUSD Mexican peso nice set-up for short positionMexican peso is bearish for the last year. I pointed out most important places. - exact 50% of previous wave - H&S formation followed by recent trend - pair is trading below 200 ema on Daily CHart - GAP support/resistance area is fairly respected by market plus bonus which tells me that it is rather good entry Mexican interests rates which are very high in comparison to other countries world wide, of maybe except Turkey:) Money tend to favor currency which has highest interests rates I believe it is called carry trading. R/R ratio is reasonable well above 2 with low risk. I will update it if market will tell otherwise or if I will close position before reaching TP.
Short
by Krystiannwk
XAUUSD/Gold short position with quite reasonable TP ans SL Blue and greenish rectangle are representing weekly GAP. These are very often creating very strong resistance/support areas. Gold for at least 3 years is bearish so this trade definitely is following trend which is good news. TP area is set close to previous lowest low. On 4H chart pair is trading below 200EMA which indicates further losses against dollar. I'm pretty sure that the pair will go south in medium term and it may or may not continue trend in long term. It is good place to enter and if something will change in my opinion I will update chart when I will close position. TP = 1181 SL = 1215
FOREXCOM:XAUUSDShort
by Krystiannwk
GBPUSD FURTHER UPSIDE EXPECTED ABOVE 1.3235The British pound has regained bullish momentum against the US dollar, after US President Donald Trump’s speech with British Prime Minister Theresa May reaffirmed the two countries commitment to a future trade deal. The GBP/USD pair has now moved back above the key 1.3205 level and is currently testing the 200 period moving average on the four hour time frame. If the GBPUSD pair starts to trade above the 1.3235 level, buyers will likely target the 1.3255 and 1.3300 resistance levels. The GBPUSD pair is only bearish while trading below the 1.3205 level, key technical support is found at the 1.3170 and 1.3133 levels.
by OctaFX_Official
EURUSD ONLY BULLISH ABOVE 1.1681 LEVELThe euro currency has once again recovered upside momentum against the US dollar, after the US dollar index failed to hold onto gains above the 95.00 level during the US trading session on Friday. The EURUSD pair is now trading above its 200 period moving average on the four hour timeframe, whilst the MACD indicator on the four hour timeframe is currently pointing to further upside. The EURUSD pair is bullish while trading above the 1.1681 level, key resistance is now found at the 1.1700 and 1.1750 levels. If the EURUSD pair moves below the 1.1681 level, key technical support is found at the 1.1650 and 1.1630 levels.
by OctaFX_Official
Bitcoin - Stuck in a channel between McGinley Dynamic and 200EMAAfter repetitive attempts to rise upwards through the 200EMA, BTC is now using the (2017) 0.382 Fibonacci green zone as support which strengthening by aligning with the (Current) 0.236 Fibonacci and the McGinley Dynamic, A persistent strong price level that always shown to be quite resilient in the previous attempts. The McGinley Dynamic has proven to be useful in the current trading environment as to avoid spikes in volatility/price separation while also becoming a "layer" of support which Buy Positions are obviously placed behind (last two breaks have been rebounded sharply with volume). Knowing that, places BTC within a channel support of the McGinley Dynamic (no one wants their $$$ doing the hard work to break through support/resistance's lined with buy points) and the consistent resistance of the 200EMA (No catalyst to sustain price above this level), so we have a stalemate, at least for the time being. Aggressive trading may change that. What the above graph shows is that traders are primary using the Daily, Fibonacci and EMA for long term direction, McGinley Dynamic for Buy Positions along with MACD, RSI for trend and volume along with the Ichimoku Cloud, in which Senkou B rejects any entry, quite strongly to be precise. If your looking for entry/exit points, either side of these indicators (McGinley/200EMA) would be great place to start, but usually in times of indecision... where the Lion's in play, watching is safer then playing. Will keep updating in regards to the exit of this channel, in which could provide possible future direction, as a break in either indicator will effect a significant shift in the overall trend direction. CerealTrader BTC is seeing some tough times , so I should write this: ***Education Purposes only***
BITFINEX:BTCUSD
by CerealTrader
EURAUD will bullish trend continue ?We can see here 3 GAPS from daily chart(lime rectangles). Look how nice this pair bounced from the latest daily GAP. It also created upside-down head and shoulders formation( not fully developed yet) which is clearly saying that the pair will most likely move higher. I had some problems with setting up TP but I think 1.6222 is very reasonable with R/R close to 3.6. 200 EMA should help pair move higher if it will consolidate for a longer time.
Long
by Krystiannwk