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Rangebound

LTCUSD: Range Low Support Offers Attractive Reward/Risk.LTCUSD update: Price action has been consolidating and is now showing a reversal pattern within a projected resistance zone near the low of the range. I am now long (50% position size) from 230.01 This is a position trade that I intend to add to if price pushes extreme lows. What is a position trade? It is a longer time horizon trade that requires less precision in terms of entry while risk is managed more with size rather than stop orders. This market is slower compared to the others AND it is trading in a general area that offers attractive reward risk (.618 support zone relevant to recent bullish swing) . On top of that, there is a reversal pattern in play on the 4 hour time frame. There is enough criteria for me to justify taking a fractional position with the plan to add if there is a selling spike below 200. Why no stops or targets? Risk is managed in multiple ways, and a stop order is not always the best way. Since price can still push lower, I would rather control my risk by starting with a smaller position. It helps me withstand any adverse noise. If price completely falls apart, my loss will be much smaller than if I put on a full position now. I intend to add to this position only if 2 scenarios unfold: the first would be the price spike that retests the low 170s. This would be an extreme move and much less likely, but if it occurs and the lower boundary of the reversal zone is rejected quickly, I will look to add in that area. The other scenario is if price can break above 253 and then establish a higher low which will be confirmation of a momentum change off of the range low. I won't get the best prices, but momentum will be in my favor which is acceptable for me. As far as exits go, I will attempt to lock in some profit IF price can retest the 300 area while holding onto a smaller position for the longer term to see how far this market wants to go. Position trades are more like investing and have criteria that is less restrictive. In summary, averaging into a market is not a "better" way or "safer" way to trade, the choice is more dependent on your outlook and risk tolerance. The big picture is bullish and the entire environment is still fundamentally bullish. As long as that is the case, I am confident in averaging into a position in a slower and cheaper market like this one. I am also realistic. If the market falls apart, (anything can happen) I can take the loss because it is limited by the smaller size. This technique is NOT a good idea if you are using margin, because that is when losses can get magnified to the point of wiping out your account. Having a sense of context is also very important for trades like this, because it helps you see through all the hype, nonsense and noise. Comments and questions welcome.
BITFINEX:LTCUSDLong
by MarcPMarkets
31
EUR/USD: Rising Channel / Ascending Wedge - BE PATIENT!Not the best currency pair to be getting involved with at the moment. There is a lot of possible scenarios developing and no clear direction. Not only are we within a range, but also in the middle of Channels, which is not an ideal entry point. Identified are: 1) Ascending Wedge Pattern; 2) Channel #1; Channel #2; At the time of this post, on a slow post xMas session, the market is range bound (Grey box). In short, a break above the range, followed by a pullback to the Mov Avg and bounce back up stands as a good bullish entry with TP at the red resistance levels. The opposite below the grey range would be a good short opportunity to the bottom trendines of the channels. The trend is clearly bullish since retesting the support levels at 1.1720. The dotted ascending trend line and relatively low RSI level makes a good case for a Wedge pattern which would take the pair up towards the 3 red resistance levels to finish out the pattern. This upwards strength is also backed up by the retesting of the Mov Avg followed by strong pushes up forming candles with long tails. On the other hand, if the wedge is merely apparent and we are within a Channel, the lower 1.18's stand as a good Long entry point when coinciding with the trendiness to then go back up to the red resistance levels within the plotted channels. Staying patient will yield the most profit right now. How we would take this trade: Agressive Approach: Wait for the market to breakout of the Range. Wait for the pullback to Mov Avg and Support or Resistance levels of range (depending on the direction of the breakout) and get in there to the designated TPs (Red Resistance if bullish breakout, bottom of Channels if bearish breakout) Safer Approach: Let the market reach the extremes of the channels and enter a trend reversal trade (Short at the top of Channels coinciding with resistance levels, Long at bottom of channel coinciding with Support). Stay patient. Good Luck. Low Volume market right now, which can surprisingly be volatile when you least expect it and fake you out.
by ChasingTheMarket
Vertcoin Accumulation Continues - 12-18-2017Oh, Vertcoin, you are still rangebound. While we've had 3 solid green candles, price has not shoot off to the moon in this latest crypto rally. However, on the positive side, price has respected the Bollinger Band midline and is now trading in the upper part of the range. There are big money bulls buying up every dip. The longer the accumulation, the higher the breakout will go. Look at NEO for a great example of what happens with a really long accumulation period. If you like this post, please click the Like button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
VLong
by GoldBands
Neo Breaks Out of Range and Heads to Tag ATH - 12-13-2017$NEO broke out of it's almost month long range and is now riding the Bollinger Band's outer level as it attempts to get back to the All Time High. We'll have to wait and see if this is the breakout will follow the breakouts we've seen in other altcoins. Stay tuned and HODL! If you like this post, please click the Like button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
NLong
by GoldBands
Cardano Continues to be rangebound - 12-13-2017Cardano continues to trade within the range of the daily candle of 12/7/2017. And, of course, this is within the range of the daily candle from 11/28/2017. This accumulation period could last for a long time while the big money market makers are establishing their positions. If you like this post, please click the Like button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
ALong
by GoldBands
LTCUSDT ShortSwing Trade (D, 240) We are in overall buyers territory on the Daily, after 84 USD we didn't make an LL and after 98 USD we didn't make an HH. So, we are working on power on both sides (Range Bound) we are on the top of the Range and we can see a clear incident between 99 USD and 104 USD that price came back aggressively and breached the 98 USD S & R and holding below that. We have got 100% retracement and buyers are completely dead. We can expect the price to reach the recent S & R or below the Range ( Blue bottom Line ). Risk Management is the crucial part of being a trader and you cant drive a car without breaks and thus trading without SL. learn with us and join us on our paid channel.
BITFINEX:LTCUSDShort
by ReddyShyamShankar
Neo - 12-6-2017Neo continued consolidating today, dropping down to tag the lower Bollinger Band. At that point, buyers stepped back in with just enough strength to push price back above the support levels. However, with price closing under the BB midline, expect to see more price consolidation in this lower part of the range until more buyers come back in. If you like this post, please click the Like button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
NLong
by GoldBands
AUD/CAD Waiting for BreakoutAUD/CAD is currently consolidating, im expecting the next move to be a strong move. If there is a break to the upside there is a possibility that we will retest the 0.99122 resistance level. However there is also a possibility that we could break to the downside and retest the key support level at 0.96932. We are currently sitting on a strong support level which it has not been able to break (Purple Line). We will see what happens as time goes. I will update the post when we have some action. Trade safe traders.
by pav4ito
Eth Range Bound with Major Supports/ResistanceGraph shows the Major support/resistance for Eth. The currency is currently range bound, however approaching a wedge on it's current trend. Breakthrough direction of the current wedge will indicate which side of the Range will be tested. I do not see the range being broken until volume breaks through the Vol 30. A breakthrough will see significant movement over the Daily Chart with opportunity to take out macro positions for the medium term.
KRAKEN:ETHUSD
by BenLittle1
ETHUSD Perspective And Levels: Trading Consolidations Like This.ETHUSD Update: After pulling back to 275, price bounces back up establishing a double bottom and making it crystal clear that this market is in a range within a larger range. In my previous ETH report I mentioned the 355 to 198 range, and within that broad range this market is now consolidating between 270 and 315. I explained how I raised my stop on my small position to 286 and got stopped out for a small loss. When markets don't cooperate. I get smaller and reduce risk, because preserving capital is more of a priority for me. Range bound markets such as these are not obvious in the beginning and need to unfold in order to make the boundaries clear. Eventually this market will break out one way or the other, but until that happens, the range must be recognized and expected. IF I am going to put a trade on, it will have to be at the lower boundary of the range only, until it breaks out and begins a new trend. Since I am not shorting these markets, that means reversal structures that form in the low 270s or high 260s are what I will need to see in order to take a position. The 310 area will serve as the target which can make for attractive reward/risk ratios of 3:1 at least if I am using a relatively small stop around the low 260s Range bound markets offer plenty of opportunity for swing trades and day trades as well. IF price revisits the lower support and it holds, you have a high probability trade opportunity, even more so on the smaller time frames since your targets will be even smaller. (A day trade target would be high 270s or low 280s which can be reached in a matter of hours). The key to trading these markets is waiting for that price area and not giving in to the temptation of getting into the mid range prices. Buying anywhere above the low 270s and you are in a 50/50 trade. That is the problem with buying in the middle, price action is very random. When the market reestablishes a short term trend, whether it is bullish or bearish, THEN I can reevaluate and determine other levels that would make sense for a long swing trade (if the trend happens to be bullish). What about shorts? Again I do not short, BUT if you do, then the resistance to wait for is the 310 to 315 area. Even as a day trade, reward/risk makes the most sense there. If you get a confirmation to sell at 309 for example, and you set your stop at 316 with a target in the mid 290s, you are getting at least 2:1 reward/risk, and you can reach that target within a half a day. Playing ranges is a simple strategy that works until the market breaks out, and it will break out. If you happen to be on the wrong side when it does, the stop is what saves you because whether it is a day trade or swing trade, the stop should be relatively small. The free money that the BTC fork offers is attracting all the liquidity away from the alt coins in my opinion. Call it manipulation, or whatever you want, we must accept it and adjust. This fundamental condition will only add to the random price action that we are seeing in this market on the larger time frames. In summary, trading within a consolidation is different from trading a trend. It's normal to assume a market is in a trend, BUT occasionally, a range becomes established and offers some attractive opportunities as long as you keep your expectations inline. Range support and resistance levels are great areas to find high probability setups, the key of course, is WAITING for a level. If it happens to breakout the one time you get involved, you just have to accept that as part of the game. The advantage to this condition is both entry and target levels are clearly defined. Whether you are going long or short, you enter on the boundaries and you exit in the middle. In contrast, entering in the middle is the lowest probability trade that can be taken at the moment. My plan is to buy the bottom of the range as long as there is some form of confirmation there. Comments and questions welcome.
BITFINEX:ETHUSD
by MarcPMarkets
59
EURUSD 4H How to use the 50/100 sma as your Price Action GuideThe 50 and 100 sma are my guides for price movement on my charts. Price trends, ranges or consolidates. When price moves in between the 50 and 100 sma I call that my in side range. Price can move quickly through both or mostly it will consolidate. If I enter an inside range trade I do not expect to have price momentum going through that space. Also many times price will move from one ma to the middle of the inside range and then return to that original ma and either cross back over that ma and continue moving away. Or price will make a second attempt to cross through the inside range to the other ma and complete it this time. When price is in a trend or a larger range it can be far away from these two ma's. Price will want to return to these ma's . Price will either bounce off the first ma and continue the trend or return to the range res/sup line. Or price will go through the inside range and continue on. In this case when price crosses the last ma it will move with momentum. I always look for the 800 ma on a 15m chart and see how long price has not touched it. So if price structure looks like the 800 sma could be a TP I use it. I also try to see if there is a larger range box price is moving back and forth in and use those sup/res lines as TP. If price moves up to the top of the larger range and makes new highs then possibly a new trend is starting. Watch for fake break outs from the range box so I usually will wait on the breakout for a break of the trendline - a hook back toward the trendline - and a go with continuation candle patterns with the new trend.
Education
by Tradingstrategyguides
ETHUSD Perspective And Levels: Market Must Choose.ETHUSD Update: 303 to 308 minor resistance prevents any upside progress, but the 280 support has not been taken out which puts this market in a range. Most likely price action will stay this way until the highly anticipated fundamental events are out of the way. Even as BTC almost reached 5k and retraced, this market has not made any moves that are worth the risk from a swing trade perspective. As far as day trading levels, again if you are up for that (I do not day trade these), the 286 area is supportive, while the low 300s is your minor resistance. If you have the time, patience and system to help you navigate that range, small profits can be extracted, but you seriously need to make sure your risk is small. If the 280 support breaks for any reason, it will most likely trigger more selling because of the double top that has been established at the 315 level. With that being said the 303 to 308 minor resistance (.618 of recent bullish swing) can also establish itself as a lower high since price has tested it twice without making any progress. This type of lower high is a bearish sign and can lead to the support breaks mentioned in the above paragraph and in previous reports. The lower high is not in play until the 280 area support is taken out. Often range bound markets can break out either way, it really is all dependant on the perception of the outcome of what ever event this market is waiting for. Taking any positions ahead of time in anticipation of a break out is not worth the risk. And if anything, the top of this range is a lower high compared to the 400 level, along with the 320 to 350 resistance zone (.618 of bearish swing) which has not even been touched, the bias continues to be bearish in the short term. Since I am not shorting these markets, I have no choice but to stay out and let the market decide. In summary, if you zoom out and look at this market from a broader perspective, you can argue that the current price structure is forming a lower high which can eventually become a higher low. This can be confusing and again is better left to the market to ultimately decide. Remember, there is nothing to miss out on. If the market breaks higher, there will be plenty of opportunities to get onboard. If it breaks lower, it will eventually offer buying opportunities at great prices which is in line with buying as an investment (core position). In my experience, it is always better to let the market choose because it won't cost you anything, and when conditions are clear, you will be much more prepared and more confident to participate. Comments and questions welcome.
BITFINEX:ETHUSD
by MarcPMarkets
25