TradewithLu

TradewithLu

As shown here there is a clear head and shoulders pattern which is highly likely to fall down to the 111 level. The profit target for this short is calculated by measuring the height of the top of the "Head" to the "Neckline", displayed by the white line, and taking this distance from the top of the right shoulder. I found that usually this profit level will be...

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ETHUSD looking highly likely to break the "neckline" of the head and shoulders pattern. Here is a pretty great Risk to Reward ratio of 1.74.

TradewithLu Updated 

Bitcoin could enter a strong 3rd wave down soon which would likely send the price down to as low as 20700. Due to the formation of the 5 clear waves in orange, the next major move looks like it will be a steep drop down. A good entry on the short is at the Entry prices shown below. The volume profile on the left hand side shows a significant amount of volume at...

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As shown in the chart this is an inverted head and shoulders pattern. Most often price will reach the 1:1 extension of the distance between the Head and the neck line (shown by the yellow line) taken from the top of the right shoulder. The stop loss is placed below the tip of the right shoulder. Entry = 0.3748 Take Profit 1 = 0.4755 Take Profit 2 =...

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Gold has had a fantastic bull run since December 2015, however this trend may be due for a reversal ahead. The Green wave 5 seems to have completed, so an entry on a short position can be taken at the current price of 1960.39 Further size can be added to the short if the price reaches 2068.32 as this could be the final push upwards before the reversal. The...

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Simple trade set up here (I am in this trade myself) Head and shoulders patterns will usually break down and this matches with the fundamentals as the market is quite bearish at the moment. Best of luck and this is only intended for educational purposes.

TradewithLu

This analysis is on BNBUSDT however, it relates to the market as a whole as all major crypto coins usually trend in the same direction. This (A)(B)(C) Elliott Wave pattern indicates weakness from the bulls. Wave (C) formed an "ending wave diagonal" where wave 3 is shorter than 1 and 5 is shorted than 3. This usually indicates exhaustion from the bulls and a...

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Hi all, another trade idea I am sharing is XRP/USDT SHORT. I am in this position exactly as is laid out in the image as I believe this is an extremely high probability trade. We have "bearish RSI divergence" which means lower highs on the RSI but higher highs in price. We also have 5 clear waves to the upside with wave (5) being almost exactly the same length...

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Bitcoin is looking weak, with part of wave (C) having already formed, a good target for the downside would be the intersection between the "Golden Ratio" of 1.618 * the length of (A) taken from the top of wave (B) AND the 0.382 retracement of the entire move upwards from 15k to 31k. This intersection is shown by the green box at a price of 23760. In addition, we...

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Here we have a longer term trade for BNBUSDT shown on the daily chart. The Elliott Wave pattern shown in the image is an "ABC" pattern. Blue wave (A) moves upwards and consists of 3 waves: A,B, and C (in yellow). Blue wave (B) moves downwards and consists of 3 waves: A,B, and C (in yellow). In accordance with the theory, wave C in an ABC must end with 5 waves,...

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This is Elliott Wave Analysis that shows a potential long trade opportunity. If Bitcoin breaks down sharply, do not take this trade, as the price will likely drop much further than shown in the image. If the parallel trend channel holds, this could be a good trade. If you do take this, be ready to cut the trade if the market drops further than expected. It is...

TradewithLu

Bitcoin has formed a perfect head and shoulders pattern which tends to break down below the horizontal "neckline" drawn in the image. This analysis is just to warn traders of the potential drop that is ahead and does not have specific entry / exit prices for a trade. This scenario seems simple to trade but it is difficult due to the likely event of "fake-outs"....

TradewithLu

A Conservative target for this short would be around $0.85. The risk:reward ratio is 2:1 which is solid but the stop loss is 18% away, so its probably only a good idea to use a maximum of 25% of your total capital on this trade to cap your loss at around 5%. Let me know your thoughts!

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Short Entry price = 10.287 Stop Loss = 11.644 Take Profit = 8.239 Risk:Reward = 1.67 Reasons for entry: 1) 5 waves according to Elliott Wave Theory indicate a reversal ahead. 2) Bearish divergence on MACD and RSI 3) Much lower volume during the 5th wave compared with the 3rd indicates a reversal ahead. 4) Bitcoin has been trending lower meaning this 5th wave is...

TradewithLu Updated 

I have gone short again with 1x this time with a maximum loss of around 4.5% and a target profit of around 8%. I ended up taking a tiny profit after yesterdays trade as the market did not break down as low as I wanted. I think we have now finished the upward trend and it will break lower from here. Why will we break lower? 1) Wave (iii) was almost 2.618 x wave...

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There are major bearish signs for bitcoin at the moment: 1) Bearish divergence on the 1,2,3,4 and 6 hour time frames on RSI and MACD. 2) There are 5 waves to the upside that can clearly be counted on the 1h chart. 3) There is a head and shoulders pattern as you can see with the left shoulder labelled as 'LS', right shoulder 'RS', and head 'H' in the analysis. 4)...

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Despite the recent bullishness of Bitcoin from 29.4k up to 34.6k, the medium term outlook seems bearish so far. In this analysis I have 2 scenarios, one bullish and one bearish, the bearish being the more likely at the moment imo. Bearish View: It seems that the price is forming a 'Flat ABC' correction to the upside (shown by the orange ABC labels). According...

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Have you ever seen a more obvious bullish divergence on the RSI and MACD???!!! Bullish divergence (BD) = lower low in price but a higher low in the indicator We are seeing this BD on the daily time frame on Bitcoin which is extremely significant and implies that we are going to see a nice rise in the price very soon