XMRUSD price is moving in a symmetric triangle, waiting for a breakout. I m looking at this market for a possible entry long or short. Since the daily chart is bearish and the higher level timeframes are bearish as well, I believe that it is more probable to get a break on the downside as a continuation of the trend but the price will tell us anyways.
Ethereum is forming and HnS formation on the H4 chart. With the overall picture being as bearish as it gets I ll be more than happy to get into this trade if we have a break of the neckline.
Entry point, targets and stop losses will be available in an update later.
I am not a big fan of HnS formations but I have to admit that most of the novice crypto traders are looking this pattern and probably are ready to jump into their long positions after the breakout of the neckline. Be aware that by taking this long trade you re going against the overall bearish trade and you need to be extra carefull. I ll keep an eye on this and...
SPX500 has formed a huge ascending triangle on the daily chart. I am looking for a daily close above the triangle near the level of 2800 before I go long. More agressive entries could be already active but I d like to confirm the breakout first.
Entry (approx) 2796
Stop loss 2763
EURUSD daily chart is showing some significant evidence that the current drop maybe is over for now and we should expect a bounce to the upside. So the technical picture I am looking at is showing the following:
1) Bullish divergence on all oscillators (RSI,CMF,OBV,Stochastic) except the MACD
2) Weekly rsi already gone oversold after this huge drop of the last...
Bitcoin is setting up a possible bounce on the H4 chart. Price has formed a symmetric triangle with 3 touches on the uptrend line and 3 touches on the downtrending line. Most oscillators (except the MACD) are showing bullish divergence. I m gonna use the triangle breakout as an entry signal around 6600$. Since we are in a bear market and I want to take a trade...
Bitcoin has formed a huge descending triangle. Descending triangles are considered mainly as bearish formations especially in bear market like the current one. I am not taking short trades in any crypto market but it seems like the support of 6200-6500$ isn't going to hold this time. The most likely zone of reversal in my eyes is still the 4900$ level and I ll be...
Bitcoin is in a symmetrical triangle on the H2 chart. Also it is testing and consolidating at the daily support level of 7500-7600$. Possible to see a retracement to the upside especially after this violent move to the downside. Usually I don't like to take trades against the overall trend but this one offers a great risk reward ratio of 2.11
Nice trading setup on the daily gold chart. Price has retested the weekly trendine and now we are getting some reversal evidence. Today we get a higher daily high which is my entry signal for this trade. These reversal signs are:
1) Price action and candle formations.
We got three daily dojis and then a hammer (sign of the end of the downtrend) + confirmation...
Bitcoin is currently sitting in a no trade zone according to my TA. There is plenty of resistance above us and significant support below so we need to wait until market give us a clear midterm direction.
8900-9000$ (previous support levels)
Downtrending line rejected the price for 3rd time
8300$ (50% Fib Retracement...
As I said in my last post, after the 5 technical proofs of ''midterm bullishness'' I will be looking for bullish trades on BTCUSD. A symmetrical triangle is formed on the H1 chart of BTCUSD. I am looking for a breakout to the upside. Great risk/reward ration 3:1
Entry 9000-9100$ (wait for a close above the triangle)
Bitcoin has formed a huge descending triangle on the daily chart. This pattern has began since the all time highs at 19800$ and it's still in play until today. Last few days price reached the downtrend line and we are close to get a breakout to the upside. Descending triangle is a bearish pattern and usually breakout to the downside, but this doesn't mean that it...
A HnS pattern appears to be forming in BTCUSD H4 chart. I do not like to trade HnS alone. I d like to have extra technical evidence which allow me to build a case for entry. In this case except the HnS pattern there are few more things which lines up with the short position.
- The overall trend is bearish (higher timeframes are downtrending)
I am completely excited about how easily people are changing their opinions. It took us only a huge green 1h candle and people are calling already for new all time high. Yes it was the biggest 1h volume in history of bitcoin but this doesn't mean that we gonna see ATH so soon. We need a lot more technical evidence in order to be back to the bullish side. So let's...
Another symmetrical triangle is developing on the BTCUSD chart. It was few days ago when I took a losing trade on a similar triangle breakout. I m completely fine taking short trades like this especially if the risk reward is so nice (last time it was 2.5:1) and the overall trend lines up with my trade.
I d love to see a breakout to the DOWNSIDE since the overall...