As Bitcoins volatility has decreased along with quick chops appearing past months, my short term plays will be slightly longer to allow movement between S/R zones. As a newer trader it can be easy to lose myself within the quick moves on shorter time frames. That is also why I have been focusing more on larger time frames to get a better perspective of direction....
A set up of sorts, not the greatest as the macro trend is still bearish but could be worth a small position for the bulls with a tightish stop loss.
Teacup on the 1 Hour. Entry: 0.90666 SL: 0.90966 (30 PIPS) TP 1: 0.90166 (50 PIPS) Don't know if this will play accordingly due to the fact that my second bearish candle at the start of the cup didn't fall past the first one. Keeping a close eye on this one. (I'm a student sharing my trade ideas. If anyone has input please share!) *This is not a signal,...
EA - Teacup on the 1 Hour. Entry: 1.54575 SL: 1.54875 (30 PIPS) TP 1: 1.54325 (25 PIPS) By the time of me publishing this, it already started to make a move down past my entry point. Let's see how it plays out! (I'm a student sharing my trade ideas. If anyone has input please share!) *This is not a signal, nor am I giving financial advice. Trade at your own risk.*
UJ - Teacup on the Daily. Entry: 111.330 SL: 111.630 (30 PIPS) TP 1: 110.580 (75 PIPS) TP 2: 110.330 (100 PIPS) (This is my first time sharing one of my trade ideas. I'm still a student to the market, finding the strategy that works for me. If anyone has input please share!) *This is not a signal, nor am I giving financial advice. Trade at your own risk.*
Got some good advice from other users here on TV and made some corrections to my chart, although my idea of the Elliot Wave forecast remains intact. I've extended the Fib levels to get a better forecast for Wave 3 and 5 and used the linear regression tool to more accurately show the uptrend channel. Although my charting is novice, I still believe the markets to...
Ride the bull trend for today. Good RR. Market sentiment bullish. Good entry between supports.
Fairly quick flip with an aim to move the stop loss up if the trends continues. Bullish daily candle on a major support. RSI oversold on daily. Good RR ratio according to Mr Fibronacci. Similar though not as favourable on the 4hrly. As always I’m new so feel free to correct and critique in the comments.
I am still a novice trader and welcome any and all constructive criticism. I have been waiting for XVG to end its decline and see where it goes due to its somewhat controversial status (pump and dump or not). I was hoping to ride a short term trend for some smaller sized profits but missed my entry. I am now going to exercise patience and wait until the price...
A little oversold. Bullish reversal candle touching support with 50 mins to go in the 4hr. Favorable R/R ratio till next resistance.
Tightening equilibrium in weekly so we'll see whether we have a bullish or a bearish summer. On the daily, however, we have a couple of resistances to 11000 with is the next fib point. Scenario 1) inverted head and shoulders and retracement to 7600 for a chance to reverse. Scenario 2) we continue higher highs and higher lows in the daily.... then we may get to...
Higher high and higher lows. Favorable (maybe even a start of a inverted hammer?) candle forming. RSI reasonable. breaking through fib level. If today candle close above fib perhaps another higher high for a short/medium term gain. As always, any criticism to this noob welcomed.
Purple line drawn on weekly chart. Dotted line less conviction. Quick support lines and fib retracement levels. Support just under 500 and 460 and 400.... candles bearish. But RSI 30 and historically the bulls rallied on ETH when it went under 30. In addition some hints of descending wedge (didn't draw in as not the best trend lines) . For a noob like me I...
Novice trying to learn a little more on retracement strategies. I'm liking this RSI (14, close) indicator. Took a nice (small) gain at the $8,301 placement but in a hesitant mod about the next trend. Most traders here seem to be going short and I feel we will break through the $8k mark (due to a little panic), maybe shooting down to $7,900 before a pull back...
8900 resistance broken and on uptrend. Next major resistance 9500 and top of the descending wedge at 9600. If I didn't get stopped out by my trailing stop at 8800 I would set my target at 9.4k (ish). I now wait for the above 9.6k breakout and re-analyse... as always please feel free to be critical as noob.
Purple trend line and horizontals drawn using weekly. If breaks above upper trend line confirms descend wedge and breaks below lower trend then it's a double top ........ long or short opportunities in a few days..... My noob TA - second week learning. Feel free to correct or rip it apart!
A mixture of break out TA and good FA news. Good risk to reward ratio. Stop loss below all time low! Shout out to @CryptoRand at twitter for recommending trade. I then went and try do my own analysis as a noob. His risk to reward is about 300% mine only 30%
If we hit 11520 then the red line makes it a ascending triangle?