Kennfucius

Kennfucius

Looking at a bull flag on the daily to long USDJPY. Dollar strength has good correlation against the other pairs. RSI is tightening with flag pattern. My entry would be above the previous swing high and stop below the previous swing low. Profit would be just before next level of resistance @ 117.45. If you were to enter this trade, where would you place your...

Kennfucius

Possible H&S pattern forming on the 15m setting up a 20 pip short. With a stop above the shoulders and target near previous swing low, the trade gives a 1.45 risk/reward ratio.

Kennfucius

I'm looking to short GBPUSD on another 18 EMA bounce. Looking for a bearish engulfing candle as my trigger, as seen in the previous 3 bounces. Target 1 is just before the previous major swing low. Stop loss is above the previous swing high and is also protected by the 6 EMA on the 1H.

Kennfucius

USDCAD has been trading within a daily uptrend channel. The 4H shows a long swing opportunity where the price has already bounced off the 200 SMA twice. Entry can be set around the 200 SMA with a stop loss set below the previous swing low. If you switch to the daily you'll see this stop loss is also protected by the 50 EMA. Profit target can be set between 2-2.5.

Kennfucius

Approaching upper resistance of daily channel.

Kennfucius

30+ % short opportunity on bitcoin. Bear momentum has no major support until ~3000.

Kennfucius Updated 

Bitcoin formed a double top on the hourly. Price needs to bounce from the 8K level to form a higher low and push through the 8650 resistance to 9K to continue this uptrend.

Kennfucius Updated 

RSI is oversold. Last time it was this low was in September of 2017. Reversal then was marked by a huge green volume the next day. Need to see the same here. The next support for BTC is @ 5450. This will be a good time to open long positions.

Kennfucius

Ripple just announced partnership with one of the largest money transfer companies in the world, MoneyGram: ripple.com High bullish volume building on the 4H after 2nd bounce from support level. 4H MACD and breaking of downtrend line indicate price reversal. With such positive news, we might see new highs this week.

Kennfucius Updated 

I am analyzing bitcoin on the Kraken exchange - XBTUSD. After the China ban on Bitcoin news on 9/8/17, the price of BTC saw a modest drop of ~13% from ~4676 to ~4139 (a previous support level). Since then, the price has held steady above this strong support. BTC has been going into consolidation and may soon see a bull break. My target entry will be between...

Kennfucius

Profit loss ratio can be ~4.5 or more depending on the level of your risk. There is a strong support @ 0.1932, minor resistance @ 0.2672, and strong resistance @ the psychological level of 0.3000. Set up is for a long position when the pennant pattern breaks. My strategy: Stop loss @ 0.1900 Entry target below 0.2080 Profit target 1 @ 0.2600 Profit target 2 @...

Kennfucius Updated 

We have a nice repeating pattern of bounce and consolidation on NEO/BTC (Bittrex). The last to rallies have gone past the 1.618 fib level. A similar pattern looks to repeat itself again now, setting us up for a potential long entry. The 2H MACD gives a great signal for entry. When the price level breaks the resistance of the downward trend, and the 2H MACD...

Kennfucius Updated 

BTCUSD is bullish on the 4H MACD. With volume, it can reach 3890 before a correction to the 3500 support level. If the bulls do not file in, we might see an earlier drop from the 3730 level back to 3500. With the total coin market cap at an all time high of 130 billion, it is impossible to tell how far coin prices can overextend.

Kennfucius

ETHUSD made a nice break toward a previous high of 271. I'm looking at price levels and previous structure. 238 was an important resistance line that was tested three times before breaking, this will become the new support. If bulls are unable to break 271, the price will likely consolidate between 238 and 271. A nice little potential short @ 266.5-270 with a stop...

Kennfucius

Equilibrium pattern forming on ETHUSD. We had a big correction on 7/18 from the new recent high of 271. Trend is still upwards with some small, healthy corrections along since then. Notice the large green volumes following each correction are larger than the previous reds. ETH is still bullish, as is BTC, indicating a good correlation. Watch MACD on 4hr and daily....

Kennfucius Updated 

An equilibrium pattern is forming on ETHUSD. I'm watching for the break point and a clear move in one direction to enter short or long.

Kennfucius

April 26, the price of ETH shoots from ~50 to ~97 (+192%) in 8 days after a month of consolidation. May 18, price sky rockets from ~97 to the all time high of 405 (460%) in 27 days after 15 days of consolidation. On the same day ETH reaches 405 (June 12), the overall coin market cap reaches an all-time high of 115bn. Two large corrections in the coin market are...

Kennfucius

With Aug. 1 looming around the corner, the total coin market cap is monotonically decreasing. All coins are predictably following this downward trend with very little signs for reversal. Support lines @ 175 and 183 match previous structure. If the trend continues, a reversal @ 1.68 fib level back to 1 or 0.786 can signal an opportunity for a short near 182 and...