We normally hear about Price action But what is exactly price action? Price action is Expecting a significative price movement once an important level is broken (EMAs, trendlines, Support and/or Resistance) Trading with Pure price reaction can be extremely profitable See chart for examples :)!
The Triangle pattern ends its formation on the Bitcoin Cash rate. It will soon become clear whether BCHUSD will grow. Priority of the day: buying BCHUSD with a target of $1600. Today, there are two possible options: purchases and sales of BCH. Projected scenarios: 1. The BCH rate drops to $ 1320 - $ 1260 and then starts rising to $ 1600 (blue scenario...
Hi trader friends! The US Dollar Index rally from 2008 low to the December 2016 high is better counted as a long term upward retracement/correction in the 107 year bear market in the "Real Inflation Adjusted Value" of US Dollar. Why? Because much of the up move was corrective in nature, with many overlapping of the swing highs by the subsequent swing lows, except...
Verge/Bitcoin, 240 minute bars, 041118, 10:11 p.m., EST. Fast post: Hello traders, it appears that Verge is on the verge of completing a Wave (4) of lower degree pullback. This is not a particularly high confidence wave count, it is a decent pattern trace If true, there would then be two more rallies remaining. We would see a Wave (5) of bigger Wave 3, then a...
EOSUSD (EOS TOKEN) 12 HOUR BARS, 040518, 6:43 pm, EST. Michael Mansfield, CryptoPlayhouse Pending breakout buy ABOVE the recent Wave(I) high of 7.28, or a bit lower for the more aggressive. 1. Selloff since January, while deep, still looks corrective, with wave highs overlapping wave lows, which by definition is corrective in nature, but there are no...
EOSUSD (EOS Token) LOG Scaling, 041118, 3:32 a.m., EST. Michael Mansfield CIO, CryptoPlayhouse. Today was an interesting day, one where my former ability to see more market patterns in 3D, came back to me after a very long hiatus. So I built a playful (definitely not precise) pyramid on one or my favorite up and coming Distributed Ledger Technologies (DLT)...
XRPUSD (RIPPLE) CYCLES ANDREWS SAY UP 4 NOW. XRP Cryptocurrency token, 12 hour bars, 040918, 5:45 am, EST. Michael Mansfield CIO, CryptoPlayhouse. Hola friends, Ripple has likely found strong price support for at least a 3-7 day bounce and perhaps a strong Elliott Wave trend move up (blue 5 wave sequencing). Alternative count (red ABC corrective waves) ...
BTCUSD (BTC) Daily bars, 040718, 5:43 am, EST. Michael Mansfield, CryptoPlayhouse 1. BTC is ready for a bounce, for maybe 3-10 days, unless it breaks out to the upside of what could be a wedge. 2. If a wedge or irregular triangle, then we could see the ABCDE pattern I posted. ABDCE's only applicable for actual triangles. 3. Risk is that many MAVs have rolled...
GBPUAD sell trading plan with 4 confluence reasons. Watch it as it will be educative as well, because I used tools on how to spot reversal levels
This is a basic trading strategy using Stop-Limit orders placed on Fibonacci retrace on price action taking place in given "phases" Phases are named "Buy" or "Sell" based on the RSI/Stochastic Oscillators in the chart. On overbought conditions we sell, and on oversold conditions we buy. These conditions trigger "buy" or "sell" phases and we react with stop...
A potential bat pattern is completing, RSI on its way to overbought level. PRZ is at a good resistance level. R:R at 1.5 (TP1) and 2.6 (TP2). Good luck.
A bearish shark pattern is completing soon. Waiting for RSI to hit overbought level. R:R at 1.4 (TP1) and 2.8 (TP2). Good luck.
Strong support line at 770 can be a good opportunity to buy. If it breaks price at 770 , most probably the price be going down to 720 which is the price from beginning of the year. I believe that this year is going to be a good year for Altcoins. more and more ICOs are being created base on ETH . Which give a lot of strong future opportunity for this coin....
This weekly EURUSD review concentrates on the shorter time frame trading based on the price movement. We can clearly identify consolidation area, where price forms an order block before bullish rally occurs with a large liquidity void. Once the Smart Money reveals their sell positions and injects a strong bearish move to the previous order block. This trading...
Here we have more green volume. A lot of green volume actually to get us up here at these prices again. I think with the weekend here, the uncertainty of the pending forks to come in near months. (Bitcoin Diamond in December....???) As this news spreads to mainstream, and the segwit#2 thing is put behind us sometime today. This resurfacing news of more forks gives...
My entire trading strategy is built around how I draw and utilize Fibonacci levels. I use Fibonacci levels to determine precise entry, target, and stop loss placement in combination with other technical analysis methods. The biggest problem I see with a lot of traders is that they do not know how to draw Fibonacci levels properly. So I will show you my method and...
We had a sell signal from the system, so we know the general direction of the pair, and now we are facing a pullback after breaking support, will sell after the pullback is over.
We are shorting XAUUSD based on Mongerskit generated signal, the last signal was generated a while ago (1/5/17) but the direction remains the same. we are waiting for small pullback and some consolidation and we are ready to buy.