Attempt #2 to short EOS has finally presented itself. Reasons to consider a short sell on a confirmed breakout: Pattern complete with a defined consolidation zone Decrease in volume with a tight squeeze Risk to reward meet's criteria and allows multiple profit taking targets Disclaimer: This is only my opinion, make of it what you wish. It is not...
Along with BTC and the other major altcoin versus the USD, a pennant pattern is forming. If we were to assume trend continuation, a breakout to the downside would be the more probable outcome. Should this occur, a projected target from the consolidation zone that has almost complete is shown @ 0.46 satoshi. Great risk to reward should this pattern play out. Note...
Looking at the chart of bitcoin, a rounded top is starting to form. There was a long wick that would have taken out a lot of stop loss orders near the $8,569 area before being rejected. This has formed a slightly HIGHER HIGH. For me, this is a sign of further downside momentum to follow. As there is a larger time frame pennant pattern forming, I am more inclined...
Keep close attention on EOS. We might be in for a nasty sell-off.While not a perfect pattern, it appears to have triggered a sell trade. With a 5.64 to 1 risk/reward ratio, this is a no-brainer trade for me. Profit target near 7.97 with stops above 10.78. Execute the best trades. Profits will follow. Disclaimer: This is only my opinion, make of it what you...
Looking at the chart of zcash against the Dollar, price is within a rising wedge pattern. The RSI is grinding up and appears to lack any conviction. Odds favor a downward move. Targeting the 38% Fib as the first target should a breakout of the pattern occur. Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Careful with the ETC pump today on news event. Presents a great opportunity to short if the Bitcoin weakness continues. Intra-day setup trade opportunity. Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Bitcoin looking weak once again. Failed to generate any meaningful rally. A drop in BTC will affect all USD pairs. Numerous patterns appearing. Can't post them all! Here is a smaller TF setup on Monero. Waiting for the break of the pennant pattern. Projected downside target shown. Disclaimer: This is only my opinion, make of it what you wish. It is not...
Ripple has been consolidating for the last week in a gradual manner. If you look at the price action, there have been a series of slightly higher highs without any significant BULL candles. Overall, to me this doesn't look like any sort of bull run. The area shaded in grey is a consolidation zone from a previous breakout to the down side. As price has now...
Finally, we have a confirmed breakout to the downside. Many Alts have similar set ups that are all breaking down after a long period of consolidation. Targets shown. Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Reasons to consider a short sell: Rising wedge formation indicates fewer buyers on each re-test of trend line Pop out the top of rising wedge into a previous consolidation zone that trigger a sell off during May (supply zone) Risk to reward (4:1) meet's criteria and allows multiple profit targets
With BTCUSD in consolidation mode, I've turned attention to the alt pairs leading into next week. Another coin on my radar is ICXBTC. As you can see, there have been multiple breakout trade opportunities that have all reach target. I've left these on the chart for you to see. There is still a larger pattern in play that has not reach targets or broken key...
With BTCUSD in consolidation mode, I've turned attention to the alt pairs leading into next week. On my radar is OMGBTC that after hitting initial targets. Now that price has returned back to the consolidation zone which was the original point of the first breakout, we can only assume there may still be buying interest in this range. Reasons to consider a BUY...
Just triggered a BUY entry: Price has broken out from consolidation zone Smaller timeframe breakout pattern (trigger) Excellent risk to reward ratio on offer Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Reasons to buy on a breakout of the consolidation zone: Tightening within pennant pattern formation Clear upside targets Excellent risk to reward ratio Volume is decreasing (sign of bears losing strength) Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
I have a feeling that ETHUSD is about to breakout. Leaning towards an upside move so will be using a STOP-LIMIT order. Valid breakout pattern Tightening into a consolidation zone Excellent risk to reward ratio Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
After a shaky start, we have reached our profit taking area on ETHUSD as expected. This was a 3:1 trade with a 14% ROI and therefore taken partial profits. Where to next? I would anticipate profit taking to take place now and see a retracement. A likely place would be a re-test of the previous consolidation zone around the $690 to $705 area, which is also the...
Yes, this is going against the market trend, but this could be a great counter-trend trade. Reasons to consider a BUY on a breakout from the consolidation zone: Consolidating with a pennant formation Long term profit target from a previous breakout still on offer Excellent risk to reward ratio on offer Disclaimer: This is only my opinion, make of...
Head and shoulder pattern setting up on BCCUSD. Fib shown as guide for potential take profit areas. Enjoy. Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.