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Rangebound

COST: Sell Short Potential but Strong Support at 200The Daily Chart of COSTCO Stock shows that there is some sell short potential on the short-term trend IF the stock breaks to the downside below the low of around 216. At this time, it appears that is more likely given the lack of large lot buyers in the chart patterns. Support levels show the point gain potential moving down from the current range-bound pattern. However, COST is less likely to collapse all the way down to 50% from its all-time high. Why? Because it was never speculated to extreme highs, far from a strong support level. The furthest it can go before reaching strong support is around 200 for a bounce and 190 for serious support and risk of rebound price action.
NASDAQ:COST
by MarthaStokesCMT-TechniTrader
1
BTC Update! Range bound Friday!Quick update. I am likely off the trading side for the weekend unless extreme volatility. Sometimes, just happy with the week and don't need to risk giving anything back unless extremely favorable scenarios. Those still active this weekend tho, we had a nice day of sideways action. BTC is range bound currently. We had a low of $3869 followed by a high of $4020 the next hour. Approximately 4 hours later we double topped again at $4020 exactly and approximately 5 hours from there we double bottomed with a low of $3870. Overall a tight range. Bears allowing for RSIs to cool off and can step into short positions easily with a break below $3869/3870 while bulls may seek to step in with a break of $4020. Definitely worth watching and likely a trade-able scenario depending on if playing bullish or bearish and which direction it breaks. But personally will sit cash for weekend unless something more exciting shapes up. See everyone Monday! Just My 2 Sats!
COINBASE:BTCUSD
by My2Sats
BTC just plotting along, putting everyone to sleepGuess we all should have taken a week long vacation and come back to BTC stuck at the same spot. Once again, $6000-6500 is really of no interest to me personally. It's becoming more of $6350-6500 now since BTC has been stuck in this range for a week now. I'm surprised this has not had a break up or down yet. If we break below $6350 or really $6345 then it's a wait and see if bulls again buy the dip. If we break above $6500 or really $6493 its a wait and see if the bears reject it at $6800s again. Either way, quick entries for a short or a long will see some nice movement for a good trade and then its, can either side see continuation (bears looking sub $6k and bulls would be looking past $6.8 and towards 7.4k. I'll be back to charts once we see a break of $6345-6493 range. Just My 2 Sats!
COINBASE:BTCUSD
by My2Sats
1
BTC Update! Tightening range - will it pop up or down?Well it's been a few days since my last chart update so jumping off of there. At the time we were sitting around $6635 and I was being cautious as first red flag had appeared in my opinion with a slight uptick in bear volume. We then saw some follow through to the downside which dropped BTC to $6452. The bulls did hold $6320 which is a key level on the daily chart and they managed to rally back to a double top now at $6640 area but this was on low volume so did not hold/see follow through. Jumping to more recent scenario. Price range is tightening up nicely and similar scenario to a couple of weeks ago, we have multiple support areas and multiple resistance areas bunched up close together. These will be stops for both shorts and longs so I would not be surprised again to see a flush down through the supports quickly or a pop up through all the resistances. Direction to me is a toss up as nothing has me leaning one way or the other at this time. But everything in the middle of the tightening range is just a no trade zone for me personally and I have been all cash for multiple days now with no interest in the space until we see the break. Nearest support areas include $6475, 6452, and 6425. Nearest resistance areas have $6610, 6640, and 6642. Daily, I am still waiting for confirmation if $6823 is our topping out point of this move and if we are going to consolidate further down. A loss of the supports in $6400's will confirm this for me and will then be watching daily chart to hold $6320 and $6106. Looking for a break of this tightening range today or tomorrow and then need to see if it's a bear break, do the bulls buy the dip hard or not and if a bull break, do the bulls see continuation and beat $6823 to move back towards $7k? Many get bored in this type of range/market as the volatility is not there the last few days but set your price alerts, check in a couple times a day and adjust alerts based on any new lower highs/higher lows and enjoy other things while you patiently wait for more ideal trading environment. There is no need to trade these small ranges in my opinion. Just My 2 Sats!
COINBASE:BTCUSD
by My2Sats
1
CADUSD - Watching for bearish signal from top of rangeCADUSD is currently range bound with price hugging the upper area of this range. In cases where price is range bound I am always watching for a fake break-out and pull back, which sets up the market for a push back down to the bottom of the range. The types of candlestick patterns I am looking for are pin bars, engulfing bars, 2 bar reversals, bearish engulfing bars, and evening stars. If a high quality bearish candlestick pattern formed I would consider getting short, but only after the pattern was broken out of . Finding key support and resistance and having a high quality pattern form is only part of the equation. Traders must weight for the pattern to to break lower to confirm the pattern, which will greatly increase the trades chance of success. As always... stay calm, be disciplined, and wait for those highest quality setups.
Short
by krugman87
AUDUSD: Avoid Noise And Let Market Find More Attraxtive Level.AUDUSD update: Consolidating price action after the recent leg of bearish momentum found buyers at the .7400 area. This is probably the most random type of price behavior a market can exhibit which means one thing for us: avoid. Momentum is still bearish even though recent price structure offers the appearance of some minor stability. Often these type of formations within this context serve as continuation patterns. My recent report in the GBP highlighted a similar condition which has been proven correct so far as price has explored lower levels. For the purpose of issuing a signal to our followers on S.C., the .7374 and .7351 reversal zone boundaries serve as the general area to evaluate potential reversal patterns. This means on a day trading basis, there is plenty of potential short opportunity, but you really must be nimble to avoid getting caught in any noise that is occurring on this time frame. The .7564 (.382 of recent bearish structure) and areas above offer much more attractive reward/risk for any potential swing trades on the short side. In summary, range bound markets may be tempting at times, and may even offer opportunities on smaller time frames. From a swing trading standpoint, randomness is high which means our criteria for a long or short is far from being met. Let the market decide where it wants to go and until it offers a more attractive scenario, there is no reason to take any action. Check out S.C. for a recent update on EUR/USD and Gold markets as well. Questions and comments welcome.
by MarcPMarkets
2
BTC: Bulls Hesitant on Follow Through [MicroAnalysis]BTC Microanalysis: "Forest for the trees but the trees still make the forest." After a good consolidation and pump, bulls are giving up the momentum a little too early by failing the 5th-wave breakout on smaller time frames, taking all 5 wave attempts just to reach the 141 extension. Normal follow through after a consolidation/pump will typically reach the 161 by the 5th wave at minimum, many times by the 3rd wave. As long as BTC holds above 9k, the Adam & Eve scenario is still looking good, but this does point to some sideways action and raises the potential risk of downside for the time being.
BITFINEX:BTCUSD
by serekamina
1
S&P500 Futures Near Range High Resistance, But No Signal. Yet.S&P 500 update: The main stream media outlets create and capitalize on financial drama, but when you look at larger time frame chart of the broader market, there is nothing particularly dramatic going on here. This market is range bound. Range bound markets are good at extremes because reversals are reasonable to anticipate on both sides of the market, long and short, even if it is against the bigger picture. At the moment, price is fluctuating around the range high which is the 2671 area. The level to watch is the 2692 reversal zone boundary for bearish reversals. This is where day trades or even conservative swing trade opportunities can appear on the short side. Do not forget that the S&P is seriously affected by company earnings and with fundamentals such as the recent tax cuts entering the economy, it is important to consider how such information is likely to affect price action. This is why you must know how to form expectations that are within reason on both sides of the market. Reasonable expectations begin with having a perspective. And this begins with evaluating larger time frame charts, and considering the fundamentals that are relevant at the moment. Make sure to visit S.C. for more insight on this market along with many others.
CME_MINI:ES1!
by MarcPMarkets
2
Dollar Still in RangeContinued sluggish performance by the Dollar is keeping it within a 550 pt Range between roughly 88.00 and 91.00. As previously mentioned, current market condition is a strong downtrend weakening and consolidating inside that relatively narrow range. This mornings Retail Sales announcement came in lower than expected, probably contributing to the continued drop in price. At the moment the Dollar is testing the 50.0% Fib retracement off of the March 1st high. Most technicals support a STRONG SELL but fundamentals are neutral. Will be waiting on the sideline but keeping a close eye on movement in either direction and correlating Dollar strength against other currencies for FX trading opportunities.
D
by jrashaadtrades