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Longtermtrading

BTC/USD Battle between bulls and bears reaches its climaxLong term still in a clear downtrend with the trend line resistance now at 11200, dropping with 300 ticks every day. Horizontal support comes in at 9450 and 4/1 fan from GannFan. Lots of negative tech comments out there though support still not broken. Once broken (9450) it needs to accelerate from their to comfort the bears this is followed by significant volume, which would confirm the market is capitulating. It could fall back all the way to 6350, the (red) 8/1 fan. However, a failure of breaking 9450 would cause a squeeze higher. Knowing the downtrending resistance line is not far away (11200 today 24/2) this could quickly backfire bears. For now bears are in control, but they need to finish it off at 9450 with volume. Good luck!
BITFINEX:BTCUSD
by MikeyGe
Cardano, ADA/BTC Ready for Its Bull Run?Cardano has been in a downtrend since the beginning of January. It has retraced more than 60% compared to BTC. Daily RSI is oversold (25) with MACD in the lowest territory since. The trend is clearly downward for ADA/BTC, but are there any signs of a reversal to be found? Well, let's see... Currently, Cardano has reached the daily support level at around 0.00003200 (Binance). Although MACD is at the lowest level, the MACD histogram is moving up slightly. Looking at the USD chart on CoinMarketCap.com for Cardano over the last month, you'll see that since February Cardano is in a tight range, especially the last 2 weeks or so while the volume has decreased considerably in the same period. Tight range and (long) period of low volume usually means the price is ready for a move, either up or down. Btw, I've tried to add the chart/image to the post but tradingview won't let me so if you want, check it on coinmarketcap to see it with your own eyes. So the only thing Cardano needs is some news or hype to move the volume and price up again. A roadmap update is expected in the near future so this might be the sparkle that could light up the fire in Cardano so it starts moving up again. Trade instructions if you want to trade ADA/BTC for the mid-long (weeks-months) term: Buy Area: 0.00002850 - 3200 Profit Targets: You can use the Fib. Extension levels to take profits: 1. 0.00005128 2. 0.00006347 3. 0.00007310 4. 0.00008273 Stop loss: 0.00002450 Note: Since this is a mid-long term trade, you can use the stop loss target to rebuy instead of stopping out if you believe in Cardano for the long term. Please like and share if you found this informative and helpful. Leave a comment if you have any questions. And as always, good luck trading!
by Trade_Masters
2
Price Action Lesson 4: Weak hammerWeak hammer: For having successful and steady transactions, Simple detection of market patterns is not enough. But with a deeper look, we should calculate the success possibility of each pattern. One of the determining power Parameters of hammer stick is about Descending or ascending that the body can be. Thus, if the body of hammer is ascending, Possibility of starting an ascendant wave is very high. The opening price of the day, is very important. This price - is the previous day's closing price, in fact it is the price that they had a war at in previous day where buyers and sellers come to equilibrium. So on the day that the Hammer is forming. If buyers can raise prices to the point of closing price of yesterday, and by the end of the day, they keep the price at the top of it, they will be the winners of the war. If we can raise the price above yesterday's closing price, they are not conclusive winners of today’s war, and this war will continue for the next few days. Thus, if the body of hammer is ascending, Possibility of the beginning Ascending wave is very high. But if the body of hammer is Descending, Possibility of the beginning Ascending wave is less. In this case, it is said a weak hammer has made. - The picture shows a hammer candlestick with descending body. . As what can be seen, candle’s height is tall, but it has very short body height. Also Lower Shadow is long, and the upper shadow is very short. . As regards the Closing Price of market is under its Opening Price, therefore the body of this hammer is Descending, and the power is very low. Possibility of the beginning ascending wave is less.
Education
by ForecastCity
14
Price Action Lesson 3: Hammer, The first sign of beginning ...Hammer, The first sign of the beginning Ascending wave: Hammer shows that the war between buyers and sellers, at the beginning of the day sellers could create significant reduction in price, with their high investments. But when the price had come to the lowest extent of it, many of buyers have entered with more investments than sellers. And again they could increase the price close to what it was at the beginning of the day or may even more. And at the war that was between buyers and sellers, the buyers have been the winners of the day, and the market is largely in control of them. Thus, the possibility of further price increases in the coming days is enormous. example: picture Shows, currency pair of EUR/USD -0.31% in a 30 minutes time frame. At the beginning, by increasing investments of sellers, the price became to 1.16886 But in this range with the arrival of large buyers to the market and overcome to turnover of shopping on sales transactions, the price increased again. Sellers could increase the selling price due to the amount of demand from buyers. The starting price is may be at 1.17495 but it increased by the end of the day to 1.17578. As what can be seen, after forming Hammer , an Ascending wave started and the Price have increased more.
Education
by ForecastCity
22
Price Action Lesson 2: Conditions of a Perfect Hammer Conditions of a Perfect Hammer: . Body height must be short. . The total height of the candle must be taller than the Daily ATR-264. The taller the candle is, the stronger the Hammer is. . The lower shadow’s length should be very tall. It is better to be over 75 percent of the Daily ATR-264. . The upper shadow does not exist, or if it does, it is very small. It shouldn't be more than 25 percent of the Daily ATR-264. . The hammer that has an ascending body is stronger than the one which has a descending body.
Education
by ForecastCity
13
Hammer Candlestick Pattern DefinitionHammer Candle Stick Definition If there was a large drop in price in the middle of the day, but before the day ended it increased to what it was at the beginning of the day and even more, a significant upward return occurred. The candlestick of this change (move) will be a Hammer in a daily time frame. A Hammer formation on the daily time frame is a very strong indication for probability of increasing price in next days. Example: The picture shows currency pair of EUR/USD in a 30 minute time frame. On Ausust 09, 2017 the price significantly decreased from 1.17495 to 1.16886 or even lower. But after that, it increased rapidly at the end of the day to 1.17578 and then closed. Also in this picture - for better understanding - the Hammer Candlestick in the daily time frame - in the result of changes in a day - is drawn.
Education
by ForecastCity
8
NXTBTCNXTBTC Positional trade I am holding it for a period of 3 weeks, Price is in the channel and we can see the 4th touch happening down at the bottom. And price challenged the guy who started the move to the downside and we have breached the guy so, we are in a bull run. It's crystal clear that we can anticipate to hitting the top of the channel. Entry: 0.0000407 TP: 0.0.00008237 Stop loss: 0.00002449 Position Size: 5% Risk on your capital/0.3915 Risk/Reward: 1:3 So, HH RR. If TP is hit then we will be at 50% profit. Buy from Sellers and Sell from Buyers.
NLong
by ReddyShyamShankar