Office Depot opportunityOffice Depot opportunity:
Stochastic rebound at level 20.
Doji formed on 2018-09-13.
Stock strenght is good.
My suggestion is a buy stop at 3.23 and follow the trade untill stochastic goes in overbought area.
Doji
Bitcoin Daily Update (day 199)I believe that it is possible to beat the market through a consistent and unemotional approach. This is primarily achieved through preparing instead of reacting. Click here to learn more about how I use the indicators below and Click here to get my complete trading strategy! Please be advised that I swing trade and will often hold onto a position for > 1 month. What you do with your $ is your business, what I do with my $ is my business.
My most recent Bitcoin Bubble Comparison led to the following predictions: 1 day - 28 days = < $5,750 | bottom prediction: $2,860 by 10/30
Previous analysis / position: Identified resistance cluster from $6,67 - $6,887 that I believed will be the top of this bounce / Short ETH:BTC from 0.03143 | Short EOS:ETH from 0.0252326
Patterns: Descending triangle
Horizontal support and resistance: R: $6,539 | Weak S: $6,450
BTCUSDSHORTS: Looks toppy with hanging man and then extended range.
Funding Rates: Shorts pay longs 0.0384%
12 & 26 EMA’s (calculate % difference): 12 is being tested for resistance | 26 = -2.05%
50 & 128 MA’s: 50 = -4.28% | 128 = -7.53%
Volume: Declining volume while price rises on 1h
FIB’s: 0.618 = $6,637 | 0.786 = $6,414
Candlestick analysis: Daily doji | 4h bearish engulfing tweezer top
Ichimoku Cloud: 4h cloud providing resistance. Thick cloud with flat top says it will be strong from $6,500 - $6,750 | Add this to the resistance cluster mentioned in yesterday’s post
TD’ Sequential: Daily on a green 4. Top on the 4h 9 mentioned yesterday.
Visible Range: Looking back to February when we have continued to test this price makes the most sense and it shows the point of control at $6,514 and a high volume node up to $6,724
BTC’ Price Spreadsheet: 12h = -0.02% | 24h = - | 1w = +1.38% | 2w = -9.98% | 1m = +4.49%
Bollinger Bands: A return to the MA at $6,743 is to be expected after bouncing from the bottom band
Trendline: At this pace we will test the top of the descending triangle at $7,031
Daily Trend: Chop
Fractals: Up = $7,475 | Down = $6,065
On Balance Volume: Moving with price / no div’s
ADX: ADX fell below 25 indicating trendless market.
Chaikin Money Flow: Bouncing from oversold zones on weekly. Pulling back from overbought zones on daily.
RSI (30 setting): W = 48.98 | D = 46.51
Stoch: Daily buy signal is trending up.
Summary: I am starting to think that we are going to see the price resist below the original cluster that I was looking at. I would be surprised if we break through that daily doji from yesterday. That is when I expected the rally to $6,700+
Instead we were unable to test $6,660 and now the 4 hour chart is showing serious signs of a top. The high volume sell off followed by the bearish engulfing tweezer top is a strong indication that we will continue down from here.
Nevertheless the shorts remain at all time high territory and are showing significant signs of a top themselves. Will be get one more squeeze that takes us to $6,700 - $6,800 or will we sell off from here? I would say it is about 55%:40% and 5% other.
Here is my ETH:USD chart. The pale red box is where I want to build my next short position. The dark red boxes are shorts that have been called on this blog.
I also have an order set to short EOS:BTC at 0.0007474 and I am 66% entered on my EOS:ETH short at 0.0252326. Click here for my EOS analysis.
Be aware of this crucial BTC signal in the next few daysThe Stochastic RSI is a very powerful indicator of momentum in the market, and on the daily Bítcoin chart it is clearly showing that the bulls have likely run out of momentum. This is backed up by the low volumes the bulls are offering as they struggle to pass the strong $7120 historical resistance level , plus a Relative Strength Index which had been rapidly approaching oversold territory.
The Stoch RSI (like all indicators) is an indicator of what has happened and not what will happen... although as is the nature of technical analysis , we can look to history and infer what is most likely. Like a ball thrown up in the air (buying), it will eventually lose momentum, slowing to a temporary halt (think Doji candle), before coming back down (selling)... and so the cycle continues. You just need to recognise when this is happening.
When the Stochastic RSI crosses down over the 80 line after a strong bullish period, it usually always confirms a period of substantial selling is underway.
Following the most recent examples of the Stoch RSI crossing bearishly below 80:
In early July we dropped from $6820 to $6072 (an 11% drop)
In late July we dropped from $8497 to $5880 (a 31% drop)
If (and it's a big if) we cross down below 80 in the next few days... we could easily see BTC -2.07% drop from our recent high of $7125 back to our recent low of $6140 (a 14% drop). On the plus side, this presents a fantastic buying opportunity for all in Bítcoin, but especially in altcoins such as Ethereum -3.86% , Ripple XRP, Cardano, Stellar 0.00% and Litecoin.
For these reasons, I highly recommend you keep an eye on the Stochastic RSI .
Ultimately I see $100,000 as a very conservative estimate for Bitcoin -2.07% in just the next two years, with $250,000 far more likely. We just need to hit the true bottom (likely in the $5000 area) before we can get there.
Please give me a thumbs up and follow me if you found my analysis interesting.
This is for educational purposes only and not a recommendation to buy or sell.
$BTC possible bullish reversalIf more volume appears, then $BTC will probably make a small bullish rally.
GBP/AUD Short Setup GBP/AUD could see a bearish reversal as price seems to have rejected the daily resistance level of 1.8185 and as a result forming a dragonfly doji on the H4. Along with the early hours of today where price failed to break this key area of resistance yet again.
There is bearish RSI divergence occurring on the H4 which suggests the strong bullish momentum could be coming to an end as it may not be sustainable.
Even if you consider this bearish move as a retracement, looking at the previous correction that took place around the start of September, price went to the 50% fibonacci level and consisted of around 220 pips. Therefore in this situation aiming for the same fibonacci level would give us around 160 pips minimum to the downside.
160 pips target with 80 pips stop, 2:1 risk/reward.
Welcome Back Little Bull Currently Bitcoin is trying to attempt to make a pullback up to 6800 area. This is where everyone should have been bullish in the first place. But because millions of orders flooded the daily 50 area. We could heading thru the $6k area. Be careful bulls. I am still short from 7250. I would take a temporary buy according to the 4hr chart up to 6700-6800.
Mama Bear had too much Red Bull last night...I thought it was all a dream.. I was so drunk on selling, I had a Bitcoin hangover when I woke up. HAHA! Bitcoin takes a major dive under $7000. While many people anticipated Bitcoin going up to the moon from here, like 99%... The 1% of the population was selling Bitcoin. I hope it clicks about the 99% and the Top 1%. Doing my hefty candlestick analysis and market psychology on Bitcoin beginning Sept.1 has just begun. In order for the bull to take over, he must close over the monthly candle strong. Otherwise we are heading south. Check out earlier ideas to see how I was doing my analysis. Pure candlestick first, then I add technicals. A toast to Bitcoin for heading down so we can all save up our coins and be rich in the future. Bitcoin for $2500 or better yet $1100 (Alex from Jeopardy)
September 5th?? Breakout Time?We have at least 7 hours left in this day candle and I have to give the bull a round of applause for holding up this trend with a lowercase "t" haha. The MAMA Bear is still in effect just taking a break drinking a RED BULL lol. She is about to head south fast really soon. The Bitcoin market is definitely stalling for that date. But currently the second hidden trend gem is holding the bull up and may be heading for $7500 which is also a .618 retracement on the daily chart. I am still bearish at 7250 anticipating a heavy move below $5000. Ultimate target $1100 a Bitcoin. Medium target: $2500.
This is the moment we all been waiting for...Bullish? Maybe..Well.. After 76 1 hr bars, better yet 3 1/2 days of being in the air, the bulls are really trying to hold on for this uptrend. While the retail value of Bitcoin is at an average of 7350, there has been a tug of war between the bears and bulls.. A new month candle has just begun and the bulls opened this month with a upmove.. But there is a lot of heavy resistance at $7400. I am definitely bearish down to $2500 with ultimate goal of 1100 per bitcoin. But recently we broke one trend line just to run into another hidden trendline and it is looking very BULLISH. Right now we are looking at a double duty trend line heading to the upside. The bears has one more trend line to break before heading south. There maybe a possible buy up to 7500 in the next coming hours which could be the market top. But an average of 7400 is right now a cap off. Lets go Bears!!!
WARNING! STOP BUYING BITCOIN! AND ALT COINS! SELL EVERYTHING! If you take look at this monthly chart. There is a huge Doji following a sell signal on BITCOIN chart. Get out! If your scalping for profits then Ok I guess. Wait until BITCOIN come down to $1000-$1100 then buy up everything. Do you think a bank would buy in the middle of a selling trend. NO. Buy lowest average price and sell high. You have been warned. Wait for atleast four or more bullish candles in a row on the bottom beginning leg. Then look for long term entry. Bearish Bank by one bull on monthly. See for yourself. You have been warned! lol
Resurrection of IOTA, aka Jesus Reversal DojiOn the weekly timeframe we have a nice double Jesus Reversal Doji. The entire cryptospace was very toxic in the last year with its greed - a deadly sin. Many people who were in nice gains (including me) wanted still more more profit and their greed was growing parabolically with the price of BTC and other cryptos. God has warned us with this crypto crash and many people lost more than they've gained, but now here we have Jesus willing to save us and give us hope and bring back the belief in the IOTA poject.
From the fundamental perspective Jesus smells the incoming TRINITY desktop wallet and it seems that he really likes this project since he is waiting for it in pain, hanging on the cross for the second week. Now let's just cross our fingers that the price will close at the end of the week with the christian cross. There are still many days to go and it can still turn into satanic cross (pointing downwards), but if we keep praying all together I belief we can see some light soon.
And do not forget about the importance of a single lighted candle. Here is one nice trading quote from Buddha, regarding shorting lighted candle.
“Thousands of candles can be lighted from a single candle, and the life of the single candle will not be shortened. Happiness never decreases by being shared.”
------------------------------------------------------------
***** This is not a trading advice. Please invest responsibly *****
NZD/JPY LongSee trade above for a reversal strategy on the selected pair
We are over extended to the downside approaching a key long term supportive price of 72.500
We have deceleration at this point and a doji formed on the daily chart
Entry Triggered @ 73.250
SL : 72.250 (100 Points)
TP : 75.000 (175 Points)
Please remember to only risk 1% of your trading capital per trade, this strategy has a 68% strike rate which we allow to play out over time, so again please do NOT risk more that 1% of your portfolio per trade.
We also have so added confluence of the key fib line matching up at the 72.600 rejoin to give extra support.
Good Luck Traders.
I will update as we go...
Bearish Consolidation Short trade AUD/USD is currently stuck in sideways channel movement, having today had a surging bullish push to retest the previous resistance zone of 74400. We now see a candlestick formation, giving a grate short trading opportunity on this pair.
Lets see how this pans out!
THETA about to make a move?Aside from the strong fundamentals on this coin, we can see a falling wedge pattern on THETA.
With the number of falling wedge patterns, I do consider whether it is time to begin accumulating alts again.
With regards to the THETA chart, the spike in the volume that formed a doji candle (indecision) has caught my attention. A break above this candle could trigger a strong move out of the the falling wedge pattern to our initial profit target at the 38.2% Fib. Stop loss orders below the swing low after the trigger.
Set your alerts for a possible strong bull move.
Please give this trade idea a THUMBS UP and I will keep you updated!
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Bitcoin at a crossroadThe next 24 hours will be critical to know which way Bitcoin is headed. I'm slightly more BULLISH for the following reasons:
Bull flag pattern appearing with a projected target at Point (D) that confluences with the psychological key number of $8,000
Inverse head and shoulders pattern still in play with a target at $7,688
Weak retracement from the supply zone, that is multiple short candles on the way down (so far)
A break of the supply zone with volume will be epic and we will see a candle straight up to the target. This will probably be a FOMO push and will reverse rapidly at this point.
It is also possible the supply zone will hold and price will drag lower. On the smaller timeframes , there are already signs appearing that a correction is in need. Grind lines and rising wedge patterns can be observed. Therefore, it might be better to sit on your hands or wait for the BULL FLAG pattern to activate before entering long. There is still a way to go to the top of falling wedge trendline on higher time frames. This is a BEARISH pattern so this resurgence should be taken as a correction only until proven otherwise.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
TRXUSD not breaking yetThe price looks unlikely to break this wedge, this has been confirmed by the strong doji which had appeared on the 4h graph as the price touched the resistance level of the wedge. The price formed a doji and has started to move down, the RSI was also at an overbought level as the price tested the resistance level. The price is currently retracing and the RSI is positioning itself. It is not very clear which direction this pair would breakout, we would have to wait and look for a better confirmation. I will update this post if I spot anything that may signal the future direction of this pair.
BTCUSD Bullish ContinuationI think we are seeing the start of an ascending triangle that will have a breakout upwards. Notice the doji candle that formed right after the wick up to test the dynamic trendline. The black dashed lines are just guesses we will need another push up and back down to truly get an idea of how the triangle looks.
ONT - Free SignalYellow = Buy Zone
Green = Sell Targets
Red = Stop Loss
To play this trade from a safer standpoint you may want to wait for a bull cross on the stochastic or TRIX.
Past history candlestick analysis for Hartalega
On March 8, 2018, an Inverted Hammer + Bullish Engulfing appeared, signifying a change to the down trend. This is further confirmed by the support line in blue.
Stock rallied for roughly a month plus until April 12, where a Hanging Man appeared (Note the Hanging Man is not as potent as a Shooting Star, but it still gives the signal that the bullish trend is coming to an end). The trend then start to change.
Stock goes downwards and tumbled, until a bullish engulfing pattern emerges on April 25 - 26. Interestingly, this happened 3 times! Triple bullish engulfing pattern! This also serves as a support line, which supported the price level on June 28 - 29.
Stock rallied up and hit a bearish Harami pattern on June 11 - 12, signalling that bull has lost it's momentum. Stock drops and hit the support line where a bullish engulfing pattern appears, and then goes upwards until it hits a Doji on July 2. Market comes to a neutral tone and market is unsure to go up or go down.. in the end it goes downwards.
Price could go further down until it hits the support line and change upwards, depending on the candlestick formation at that time. If it goes down it would hit the second support line formed by the inverted hammer.
Notice the MACD histogram is showing an upward trend, signifying an uptrend of price.
Waiting for the breakdown on BitcoinSo on the larger timeframe Bitcoin has broken out of the rising wedge pattern, confirming further downside pressure is expected.
I'm now looking for trend continuation trades to ride the wave should it continue as it's the higher probability trade.
A smaller rising wedge pattern has emerged on the lower timeframes that has peaked my interest. I'm waiting to see if we will get another re-test of the upper trend line. A short pop above with RSI divergence would be very enticing.
Otherwise, I'll take a trade on the break of the trend line using a stop-limit order to target the 38.2% retracement of the swing move from near $5,700 area.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
