LTC tried to close below the EMA26 for two days in a row however got rejected and a tweezer bottom candlestick pattern formed, indicating a reversal of the short term bearish trend. It is has now closed above the EMA12 on the daily chart for two consecutive days in a row. This signals a continuation of the uptrend which coincides with the release of litepay....
BTC is currently sitting near 10k. If it breaks under 10k, this would validate the descending broadening wedge. Looking to short to 8.9k and then enter a long position to 11.2k
Trade 1 - Short
Entry - 9965.7
TP1 - 9603
TP2 - 9049.8
Stoploss - 10410
Trade 1 - Long
Entry - 8963.7
TP1 - 9863.7
TP2 - 11129
Stoploss - 8285.5
Expecting a pullback to the EMA12 on the daily. Should be a fairly short trade. Reason for the trade is the formation of a pattern I have found very reliable over the last two months, that occurs on dumps. Two triangles, one finishing with a lower low and the next with a higher low than the last. It is accompanied by bullish divergence on the RSI. I am expecting a...
Trade validated if BCH manages to close above the EMA26 for the 2nd day in a row. A close above $1440 (17/02/18) is a bullish signal and in the past, a 2 day break and close above the EMA26 has usually been followed by a 25% run up.
TARGET 1 - $1997
TARGET 2 - $2400
STOPLOSS - $1421
If the price closes below 1440, remain neutral.
Waiting to go long again from the 50% retracement of the move up (target price $197). 50% stoploss at $175 and 50% stoploss at $167. First TP is $268. Idea is invalidated if we have a break of $238 with a new volume spike and an hourly close above $238
A close above $155 (13/02/18) is a bullish sign as this would mean that we have closed above the EMA12 for two days in a row. This happened a few days ago however the price was pushed back down but not below $142, forming a double bottom. I believe that this signalled the reversal of the trend. This is further validated if BTC closes the day above 8700 (EMA12 for...
-Bearish divergence on the RSI.
-Low volume, bulls were unable to break this resistance twice on higher volume.
-Was unable to sustain the break above the top of the ascending triangle and price quickly crashed below 11400.
-Overall bearish trend and strong resistance area.
I am expecting the ascending triangle to break down and result in a retest of...
Bitcoin is currently in a rising wedge. Looking to close longs/short between 12500-13000 followed by another elliot wave cycle down to about 8.8-9.2k. A break above 13k could signal a break of the overall bearish trend and should be accompanied by an increase in volume for confirmation before buying.
GBPUSD SHORT POSSIBLE
Leading up to the BoJ interest rate decision this month, the GBP rallied against the USD and the pair formed a top just above the level of $1.278 USD per pound sterling. This provides an opportunity for a reduced-risk shorting opportunity. The outlook on this pair is bearish as the dollar index (DXY) is in the progress of making a recovery...
Bullish pennant forming on GBPUSD. Strong resistance at 1.277, look for entries at around 1.278 and then set a trailing stop to break even. Initial SL @ 1.27400. If it breaks the resistance and holds, it should function as a strong support. TP could easily reach 1.28138 and above. Candle needs to close above the upper trendline for this setup to be valid.
This pair should face heavy resistance between 1.27691-1.27795, with a few key fib levels clustered around this area. This area has been a reliable support/resistance zone in the past.
The current rise is simply a pullback from the drop post-rate hike and this pair seems to be trading in a rising wedge structure. I am anticipating a break down of this structure...
Looks like it is about to bounce off the .382 fib level which also happens to have been a significant reversal point for the last month. Looking to short this pair back towards last week's lows. Expecting a sharp move down.
SELL @ 1.27791
SL @ 1.28226
TP1 @ 1.27112
TP2 @ 1.26552
I am expecting DXY to make small move back up in the ballpark of 97.40, followed by a decline to around 96.5. USDCHF has been ranging between .96 and .97 for the last few days and seems very reluctant to break upwards towards .98. In addition to this, the RSI of USDCHF is currently overbought on the H4 and H1.
Looking for a retest of last weeks lows. From there,...
I am expecting DXY to make small move back up to around 97.39, which will be followed by a decline to around 96.5. USDCHF has been ranging between .96 and .97 for the last few days and seems very reluctant to break upwards towards .98. In addition to this, the RSI is recovering overbought conditions on the H1 and heavily bought conditions on the H4.