After the break of range zone, price retraced back and retest the broken level which is also aligned with dynamic resistance (mean value), 50.0 Fib, and weekly resistance. Our goal is to look for continuation trade after the breakout of the counter trend line (CTL). Now we have the break and retest of the bearish CTL, we give a shot for short. Entry, Stop Loss and...
Timeframe: 240M Main Scenario: ETH/USD could resume the downside movement if the rate will make a valid breakdown below the 150% Fibonacci line. You can see that it has developed a minor chart pattern, so a valid breakout from this pattern will confirm further drop on the short term. Alternative Scenario: We may have an upside movement if the rate will make a...
The bearish case: We've seen the 850-900 range as a key support and resistance level for ETH. Given that ETH has failed at the 50% fib and at lower end of this range at 840, im relatively bearish on ETH. Also given the likes of NEO/EOS/ICX, being almost direct competitors to ETH, first mover advantage may be the only trump card that it has left in its arsenal....
Heres some easy money, Navios Maritime Midstream Partners L.P. is a services and shipping company. It has been priced at a premium by the market as a result of overreaction to selling of ships. These ship sales have increased the company's cash flow and helped them build an already extremely beefy balance sheet. I believe the market has priced NAP at around...
It has been a while since our first and last trade but we're at it again with another nice Flag Break trade setup on GTO/ETH at Binance. To give you some context, the goal with our trading on our Binance account is to increase our ETH. At the beginning of this month, we started with 4.49 and after our first trade that grew to 4.8. Today we saw a quick trade...
GBP/AUD is inside of a symmetrical triangle formation. You could issue a scalp buy after the break and retest of the descending trend line, as it will try to reach the longer term descending trend line. Once Price reaches the primary descending trend line, you need to wait and see if it fails to break through on a 4hr time frame. In the event it does break...
This isn't a trade system that I've used, but one that I'm planning to experiment with after getting decent results with limited back-testing on only Bitcoin (thus, I'd probably only use it on Bitcoin, for the moment). Pretty simple rules, but it seems to be an effective profit-grabber with decent success rate. What do you think?
Japan's trade figures come in, its exports were higher for June but its trade balance was also higher then expectations. Doesn't look as the strong Yen heart exports so much. USD/JPY Daily Chart:
Only a break higher above 1185 or out of the long term down trend line will be sufficient for the bulls to retake control. Short in this sellers market. Price continue to trade below the 20 WMA which is now sitting at 1180. Our stance remains the same here, Platinum to have a corrective rally as long as it trades within the triangle - creating higher low and...