Trader6127

Trader6127 Updated 

With the bullish cycle expired and the uptrend line now broken, I expect a A - E correction down to the former all time high area around $4900. This is only a model using market structure data, and so anything can happen. VPVR suggests no lower than $5100. Also news can make price move more quickly to its final destination. It should be noted that A - E patterns...

Trader6127 Updated 

Over 200% in a few weeks? We need a short plan! A breakout from the support at $885 should bring a huge selloff where we can add short positions all the way down to the pivot support at $535. Be advised, there is a classic fibo support at $582 which can reverse the market pretty hard. Here;s a closer look. Cheers and GLWT! -Erik

Trader6127 Updated 

On bigger time frames Ethereum seems to be forming a continuation pattern to the downside against USD and Bitcoin! This gives us a pretty good intraday swing opportunity. Against the dollar, a breach of the $273.67 level is necessary to bring the structure into effect, although short entries could be taken with a break of the daily target at $282 (but that's...

Trader6127 Updated 

After closing our longs from our previous thread, the RSI made a selling signal, we continue to trade in a downtrend channel, and we have failed to trade above the major fibo resistance level. The selling pressure may be returning! We had a bearish confirmation at $639 and a minor uptrend line break. One more white uptrend line remains to be tested. Over Bitcoin...

Trader6127 Updated 

We have seen this pattern formation often with Bitcoin, so we know how to trade it (see our previous threads!). There are two possibilities: A breakout to the upside with a MIN TP of $8205 and a MAX TP of $8681. We can wait for a breakout of the all time high at $7602 or fetch the early bird price of $7452 with a breakout upwards from the crown reversal...

Trader6127 Updated 

Two possible pattern formations on the 30 MIN chart offer short-term long trades with nice R to R. Keep in mind this is a counter-cyclical trading environment, so I would stay disciplined on this one. - Breakout buy can be above $6.70 for a MIN TP of $7.34 and MAX TP of $7.95. - Breakout sell can be below $6.31 with a MAX TP of $5.70. You could carry this short...

Trader6127 Updated 

We have a possible head and shoulders formation on the 4HR, which can take prices further downward to a MIN TP of $0.155 (likely) and a MAX TP of $0.09 (unlikely). At the time of writing, the right shoulder has yet to prove a reality, and we are trading within the key-fibo zone where the current downtrend can still be reversed. We have a bearish confirmation at...

Trader6127 Updated 

There is still potential to form a new all-time high at $6739 - a point of confluence for two big fibo extensions. On a smaller time frame (15MIN) the market has formed a higher high at the bottom of a key fibo zone at $5380 and RSI shows a bullish divergence (15 MIN) while being oversold (4HR). VPRP is also showing us we are currently trading just above a low...

Trader6127 Updated 

Is this a falling wedge reversal we see? Then we need a game plan! The max consolidation level stopped the drop and we’ve seen a nice bounce. From here, we may see a breach of the falling wedge, a fibo extension target at $454, the pennant target at $466, and possibly even a daily target at $612. I can also see the rally kissing the major fibo resistance at...

Trader6127 Updated 

If Ethereum fails to break the downtrend line and breaks through its current support level, it looks like we will gear up for an upright head and shoulders pattern. This pattern gives us two targets to the downside. A MIN TP at $263.43 and a MAX TP at $226.16. Wait for a break and close of the trading range support at $287 on the 1HR. Keep in mind the hourly and...

Trader6127 Updated 

We have a nice bullish pattern lining up on this time frame after failing to form the right shoulder of an inverse head and shoulders pattern. Currently price is attempting to trade in a resistance area above the sub-sub fibo at $5839.20. Closing above this area can lead to a breakout of the flag at $5965. Be advised, bullish confirmation is located higher at...

Trader6127 Updated 

Is this an inverted head and shoulders on the 1HR chart? Bullish divergence on the RSI and trend lines suggest so. Wait for a break to the upside of the confirmation line and golden circle, or a breakout to the upside with the completion of the right shoulder. Profit targets can be set at $6650 and $7148 as long as we breakout of the entire pattern to the...

Trader6127 Updated 

Possible crown reversal zone ahead between $307 and $304. We should see a reversal here as RSI is heavily oversold. Targets to the upside are $360, $373, and $382. If you want to go conservative, try $320, $335 and $350. Alternatively, we have a fibo extension to the downside at $290, a fibo level at $274, and a daily target at $262. My strategy also includes...

Trader6127 Updated 

OmiseGO looks to be forming two bullish structures on the 4HR data, although a possible completion of the crown reversal is still possible. We seem to be in a downtrend channel, so buying is countercyclical until we see a puncture of the descending channel. Breaching the bottom of the flag could create the conditions necessary for a falling wedge reversal, with...

Trader6127 Updated 

TenX Pay Token has managed to stay above the max consolidation range in the 4HR data, although the level was breached. Currently it’s a coin toss with two possible tracks for this instrument. A breakout of the channel will stimulate price growth, but trading below the consolidation line will trigger selling. We are in a downtrend channel, so trades would be...

Trader6127 Updated 

Chart data shows Ethereum Classic is likely to continue its very big decline against Bitcoin (BTC) in the short term, aiming for the trend line on the chart. This will reflect heavily in the ETCUSD pair, especially if we see BTC continue its correction against the USD. I will revisit this pair once we break the heavy resistance line or reach the bottom trend line....

Trader6127 Updated 

We have an interesting situation developing in the XRPUSD chart :) I will be updating this thread as we go, but for now, please have a look at the data. Which way do you think it will go?

Trader6127 Updated 

ZCash has re-entered the descending channel and is now trading below the key fibo level formed by the recent swing. Now we are in the long box support zone. The uptrend line was breached so a bottoming at $216 could be expected. Further downward pressure could take price to the major key fibo support at $190. A break of the second uptrend line could take the price...