Hi, in this chart I describe how I read the price action in the Bitcoin chart, in this case the Okcoin futures. My spot forecast and weekly trade setup is coming along nicely, but there are other shorter term opportunities for the traders with a keen eye for technical analysis. The new indicator plots inside and outside bars, as well as range expansion, paying...
1. Price moved nicely in 5 waves from the bottom to the upper channel boundary. 2. Than it started to consolidate nicely in the form of flag below the upper boundary of the channel during this "deal/no deal" Greek circus. 3. ABC correction retraced to 38.2 fib of the 5th wave. The level nicely held several attempts of the bears to push the price lower. Target:...
Hi Traders. I tried to summarize the conditions that should met for a harmonic pattern to be valid. I have did so for most of the patterns which I know, except for Shark, 5-0 and Three drive pattern. Hope this help some of you; Any Question? Please ask under this thread. Kind regards, Hamed Aghajani Newcastle-upon Tyne, United Kingdom 02/06/2015 11:05 BST
Bitcoin review & exceptions going forward with focus on market structure zones.
Market below the 55 day. Trend-line break with a solid price movement downwards. Back test of 1192 possible. Possible to short on either price reversal on back test or follow through selling below the 4/22 low. Stop on initial short entry could be placed above 1203. Daily MACD cross supports position as well as RSI movement. Geo-political risk could cause...
Market tested 61.8 Fib on the retracement. Now below 55 day. Test of gap and trendline possible.Possible short b/w 2820-2840 upon price action confirmation. Follow through selling below the 4/20 low also a good trigger for a short. As always use proper money management stops to limit risk.
Chart is very self explanatory, price is looking to retest the 50% Fibonacci resistance area (Confluent with the descending trend line & the Daily 100 moving average). The weekly chart also hints towards a loss in bullish momentum. Looking to short on a retest of resistance upon confirmation of course. Cheers =)
Theory: In the previous wave structure linked to this idea, I said that maybe the purple wave retraced 38.2%, and the yellow wave retraced 50%, so maybe the pink wave would retrace to the next fib level of 61.8%, but now I adjusted it to where that pattern didn't hold, and it actually was more consistent with the yellow and purple waves at between 50% and 38.2%...
With ATR on Friday being close to a low, and with fridays candle being an inside candle, I am going to place a bracket trade 3 ticks on either side of the high and low of Fridays candle. At the same time I am anticipating the ATR to expand.
Crude Oil Forecast
08:45am: This week will be eventful. Fed is expected to remove the "patience" from its interest rate policy statement. If so, markets will expect a rate hike in Jun Fed meeting. This is likely to put pressure on the markets in the intermediate term as the expected rate hike, the first since 2006, will be perceived as a game changer. If the above unfolds, USD can...
08:00 am: This week will be eventful. Fed is expected to remove the "patience" from its interest rate policy statement. If so, markets will expect a rate hike in Jun Fed meeting. This is likely to put pressure on the markets in the intermediate term as the expected rate hike, the first since 2006, will be perceived as a game changer. If the above unfolds, USD...
08:17am: After yesterday’s massive short covering rally, the Dow futures are giving up some gains in the early morning trades. YMH5 is trading at 17836, 30 points lower than yesterday’s close. USD is again strengthening and may further strengthen if the 8:30 am data release is perceived to further support US economy strength. This will put pressure on the Fed to...
THE CLASSIC PSYCHOLOGY OF A MARKET CYCLE. WE SEE THESE EMOTIONS THROUGH RETAIL INVESTORS WORLDWIDE. MAKE SURE YOU HAVE 20/20 HINDSIGHT ON GOLD BEFORE YOU GET CAUGHT IN THE HERD. REMEMBER, NO BIAS. @YUNGFINANCE
Set-up for Mar 09: YMH5 futures traced wide range day on Fri, Mar 06. Expecting continued weakness in the early going on the open on Mar 09. Daily PIvot at 17942 and 5 DMA at 18038 will be the initial resistance on any bounce. If 1st hr. hi is exceeded shorts should be closed. For instructional purposes only.
This is part 2 of a post I did in September 2013. Nothing has changed, really. The same MACD signals produce good profits. Sugar futures are traded on the ICE exchange and any futures brokes can give you access. The margin requirement is $950. When MACD crosses positive on the daily I plan to go long.
SP500 fell lower but gain back all its losses quickly leaving a pin bar on the chart. The trend is bullish which add weights into this trade. My first target would be the resistance above at 2,117. Why I go long: Bullish trend Pin bar with long wick Price rejects the 2,089 support level
RIG is coming of divergence that sent price breaking resistance with momentum confirming the move higher by also making higher highs. RIG has since pulled back to a .618 retracement. I am looking for price to move past its most recent leg higher and test the 127 projection of this leg. With stops placed below the most recent swing point low, this trade offers a...