Even though I have not yet placed a short, BTC is looking to close its weekly candle below last weeks low (61xx). The bears are not done yet, as I am expecting a final push lower before the final bull run. 46xx makes a lot more sense for institutions and big money to jump in, but a reversal from 57xx has happened three times before and clearly serves as a strong...
The price broken down through the strongest support, however it seems that market players do not want to trade this coin at the lower price. Indicators become bullish, EMA 20 is going to intersect the rest EMA lines while there is hidden bullish divergence and Gartley butterfly. The price will pump back to the Fib 1 retracement level and then it will be possible...
The blueish rectangle showing very peculiar price action which took place on the first half of august. This strong bullish movement was wiped out with couple of days and pull it down below the most important support/resistance level for this pair which is 0.02. I can see 2 possible scenarios the pair will be pull down by 200 EMA on 4H chart and most likely 0.02...
Order pending at 1.16430 T1: 40 pips T2: 80 pips Risk : 40 pips
NZDUSD is always one of the top choice when it comes to taking some dollar long trades. It just finished daily 8ema correction and has a inside 4hr breakdown right here right now. Like this short a lot, let's see how it goes yo!
Golden EMA Cross (48 and 200) But possible RSI bearish Divergence. Go long, but if RSI pulls back downwards, close your position.
Waiting for the green to cross over the red. Simple, but by god it just might work. @1SimpleTrader on Twitter turned me onto this plan. Been trying to find a way to call the reversals for stocks like $GRUB that popped after earnings then dropped, only to reverse up higher. Its your standard bull flag movement, but they look funky because of how much the price...
BTC USD key levels to watch now (MAs & EMA S/R)
On the daily chart, the 200EMA shows me where the long term trend will be for the currency, the EMA showed that price was below the EMA which indicates that the trend is bearish.I can also see a breakout on the price resistance line(1.26978) so it could show that the price will continue to go down.I switched to the 4 hour to see if the Ichimoku signals show...
A short trade has been executed. please click on the chart to see the SL and TP levels. In addition please click the link below for the complete analysis on this trade. NOTE: ANY UPDATES WILL BE AVAILABLE TO THE RELATED POSTS (See the link below)
This is the forex quote for the New Zealand Dollar vs. Japanese Yen exchange rate. NZD (the 'base currency') is quoted in terms of JPY (the 'counter currency'). The Yen is a historically low-yielding currency, making an attractive vehicle to fund carry trades (where traders borrow cheaply in JPY to buy higher-yielding currencies, including NZD). Investors tend to...
Why Wheat and why now. What about Soybeans and Corn. Looking across the Ags, it seems that Wheat is enjoying the most upside. Why is this. In keeping with my focus on the DMI and ADX, I think you’d have start by looking at the monthly chart of the 3. One of the key tenants of DMI/ADX is that best trades seem to originate when the ADX is below 20 for an...
This pair has been confined in a wedge on the daily chart and is poised to break out soon enough. Even its parent pair the GBPUSD has high probability to break to the upside. Further GBPCHF is testing a crucial resistance at the 1.29000 level and the pierce of this level on the weekly chart would make the H &S pattern complete, however the momentum to the downside...
So far, I’ve focused on how to get into the market based on the DMI swap in dominance between the +DI and -DI. Once you’re in or if you missed the original entry, how can you get into a trend while minimizing your risk. As I’ve noted before, I’ve not been able to successfully trade on a regular basis but my hope is to use everything I’m documenting here to...
Continuing with using the ADX/DMI on a daily chart to trigger a trade with the 4 hour chart to refine the entry, I’ve marked up the recent BTCUSD action similar to the wheat chart in previous article. As you can see from the daily chart, price dropped on the 4th causing the DI’s to swap dominance on the DMI. With the ADX still above 25, this could be viewed as a...
Setting up a trade based on daily signal using 4 hour chart for timing. In this scenario, the daily chart had its ADX below 20 since July 3rd. When trading with DMI/ADX, periods of breakout after the ADX has been below 20 for at least 7-10 periods can provide good results. In this case, the 4 hour chart had dropped below 20 for an extended period too. On July...
In my first article, I provided a summary of the tools I’m using plus links to some good material that gives more in-depth details of each. As I go through each concept, I’ll refer to the 3 time frames that I will use in determining a trade. • Weekly: to get the overall bias of the market • Daily: to identify a day to take a trade or to setup a trade • 4 hour: ...