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Simple Token Bottomed Out?Simple Token has found the support at 161.8% Fibonacci retracement applied to the corrective wave up after the break below the 3800 satoshis support. The Fibonacci support has been rejected cleanly after which price broke above the downtrend trendline. While the 1580 satoshis support is holding, it is likely that OST/BTC will continue rising towards 3800 satoshis resistance area, although this could be just the very first wave of the uptrend. Break above the 3800 resistance could be the beginning of the strong uptrend, sending the price to the new all-time high. On the downside, break and close below 1580 satoshis could invalidate bullish outlook and push price lower to 1k satoshis psychological support.
OLong
by CryptoPAMM
KAZ Minerals Firmly Range BoundKAZ Minerals is a stock that gave us good profit in the bull run from 2016 to 2018. This was a stock that went through excellent periods of trend followed by extended periods of consolidation. That is just the nature of this stock but one that can deliver very good profit if given the time to develop. We were stopped out of all our long positions in the pullback from earlier this year. Since then, price has remained in consolidation and is now on its way to entering its 7 month of a being a range-bound market. Market conditions now dictate that we stand aside from this stock whilst the bulls and the bears battle it out for supremacy and determine a trend direction. There is no edge in range bound markets but many are often lured in to trade in the belief that trading areas of consolidation is easy. Simply go long off support and short off resistance. If only it were that easy. Periods of consolidations are notoriously difficult to trade as they are made up of multiple levels of support and resistance which can cause whipsaw moves in the market that can take traders out and cause premature losses. Trading is definitely not easy. It certainly is not as difficult as many end up making their trading but anyone who thinks it is easy will soon have their ego put in check. There will be the odd person who slips through the net and gets away with over-leveraging trade after trade in what just so happens to be prime conditions. Most will not be so lucky. The correct expression is "trading is simple, not easy. " The best and most profitable techniques are the simple ones but growing trading accounts is not as easy as many think. One of those techniques is simply understanding that growth is made during periods of trend and protection of money is done during periods of consolidation. It is a time-tested formula used by the best for decades now. With KAZ Minerals, we are now waiting for a breakout. As the trend was bullish prior to this current lengthy period of consolidation, our bias is with a breakout to the upside. Ultimately, it does not matter as we as traders have the ability to make money in both directions. It is down to the forces of the market to dictate a breakout, wait for optimal environments in either direction and we then react accordingly. For now, there are far better opportunities presenting themselves in FX such as on the USDJPY . It seems like, finally, FX is where the money is. Sublime Trading
K
by Sublime_Trading
Bitcoin; a super simple analysisThe more I read other TA's, the more complex it gets. Supernovachartpatternsresistancelevels and multipleindicationacceleratorsignals (That's not a thing, I've just made that up) that are driving me crazy. I was told that I should NEVER invest in something if it's highly volatile and not clear where we are moving. Simple as it gets As you can see on the daily chart we just went through the 50 day EMA and it tends to move bearish. BUT... it's not really giving off a clear breakout signal since the RSI and MACD are all still quite in the middle. My idea; only invest at times when the basic indicators (MA, RSI, MACD) give off a clear signal. Don't try to rush things, it will only cost you money. The time will come. Cheers
BITFINEX:BTCUSD
by UnknownUnicorn1520339
Ride the GBP Britain has been doing terrible since it's issued article 50 of the Lisbon Treaty for it to leave the European Union, from there the country has been unstable economically, but the banks were preserved with this information and that caused the GBP to recover for a bit, on Thursday we've had fundamentals released by the bank of England which confirmed Britain has lost investments and not only that, but people are very wary of investing in the UK. Since investments and interests rates are the backbones of the Forex market, and news being negative and a heavy drop on the GBP we can determine from this that the GBP is looking to drop back to the Brexit levels, but as we know the market always trends in swings forming those LL's and LH's in a downtrend, the market has formed the first leg of LL, next up it's forming that LH at the 50% Fibbo retracement as we can determine from previous price levels on GBP/USD.
Short
by Abdul_Light