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ADA holding within its ascending triangle. RSI looks bearish.ADA is holding within its ascending triangle pattern on the price action, but the RSI triangle it was in has broken down, indicating we could see the price action start to follow before too long. I'm watching for a sustained break below 980 to confirm the break-down of this ascending triangle pattern. the 0.5 fib level around 960 and the .236 fib level around 930 are area's I'm watching for a rebound should it break down. A lot of this will be dependent on BTC; as for if BTC starts break down hard, I wouldn't be surprised to see ADA break down hard alongside it. If price can manage to hold within the ascending triangle and can start to push to the upside, I'm watching the 1.272 fib level around 1050, and the 2 fib level around 1130 as possible target area's should we get a sustained break-out to the upside. --This is not financial advice. Always do your own research and come to your own conclusions before buying/investing, as investing in cryptocurrencies comes with high risk and high amounts of volatility . If my post was helpful, and you'd like to support me, here are my donation addresses: BTC: 3JA2z6FkxDhEHo5ncMEHHGLx78dzzwC1KH ETH: 0x61DF878e5436530122f1A303e095dBd344502228 LTC: MVDbAhm2yoyCzeRnayMN61oZp75MZ5SZVj Many thanks! :)
by Deftsuo
Hang Seng Index: Positive to 28017 on a break above 26770Hang Seng Futures HSI1! Next Long Set-Up This index made a neat exit of the upper parallel - followed by a pip perfect retest of the same line before reversing higher again to test the first line of resistance at 26764, failing just below here after an intraday high at 26694 on futures. The 26770 level is looking increasingly significant. A break above here should be worth following for close to 5% upside to 28017. This index really needs a stop of about 100 points - 3 times more than the Dow although they are both the same price pretty much. It's just the way it is. So a break above 26770 will need a stop 100 points lower at least, and really it should be under the 26588 level, which is over 180 points of risk against 1200 points of reward. The range between 26764 and 26588 is creating whipsaw - it's effectively a small band of uncertainty which may crreate a little more whipsaw around the open. But once it's shown it can overcome 26770 it should be worth following long - but be careful with the stop if trading this one.
HKEX:HSI1!Long
by sumastardon
CAD/JPY - Buy OportunityHello traders, In this chart we can see price has tested a support trendline that was formed on March 2018 and confirmed as support. In the daily chart we can find a bullish endgulfing was made on support trendline. This + the latly CAD confirm there is a good oportunity we can go up and break the downtrend resistance and go to the 0.5 FIB zone. We have a decent risk reward ratio, and price action tell us we will go up. Feel free to enter this trade after market opens. I will update this trade soon, ForexAcademyClub
Long
by RodrigoFAC
BTC continues to tighten up! Break incoming...Well we continue to tighten this pattern up. Last chart I discussed a few levels, mainly our resistance which had our triple top of $6640, 6641, and 6642 at it and the bulls trying to form their higher low which the 4 hour chart at the time was setting $6511. I personally did use this as a stop for a small position and then used a much looser stop in case the whales were fishing for stops. We got a quick spike down to $6492 so did stop out and lock in profits for some more of my position and rest remained in position. Bulls pushed up to $6585 and I re-added on brief consolidation around $6560 just to re-fill what I had stopped out on. Bulls are now back to testing $6600 area with our spike high at $6613. Otherwise we wait patiently for $6640s resistance to break. New support is at $6492 which lines up perfectly for daily chart. This is an extremely tight range for a daily chart so we know a break is coming likely today or tomorrow. I have my stops in place for current position in case we see a bear break and have my stop buys in place for a bull break to add to the position. Just My 2 Sats! *** Edit - and as I was typing/posting the bulls are making their move. MUST see follow through here
COINBASE:BTCUSD
by My2Sats
Big bull pump after mega bearfake should send us to $6715Very exciting price action in the past hour looks like we are now back above the 4hr 50ma and appear to be breaking up out of the symmetrical triangle...this could be another megafake the other way of course so we must take that into consideration and still watch for candle close and follow up confirmation candle price action but at the rate it is flying upward probability is very high that we will see a bull break...be prepared for a bull trap though just to be safe.
BITFINEX:BTCUSDLong
by DrDovetail
Will the bart end soon? We touched the support levels i mentioned before and it bounced back bit, but we still cant hit the 6400 POC. I think the 6360 might be good entry for short and the redline is stop loss i will look for my short ( if we gonna break the 6400) . I think 70:30 we may touch the 6360 above soon and 30:70 we go down back to support levels at 6160-80 without touching the 6350 above . If the 6360 hits without stop loss trigger i may look for 1. PT at 6260 level and second one on 6200 level. After first PT i trail my stop loss to 6280 levels. What do you think are we gonna break the 6400 or stay bouncing around here for longer?
BITMEX:XBTShort
by RasmonT
EUR/USD - 700 Pips Down Potential!Hello traders, I bring you here an interesting view LONG TERM on EUR/USD. In this chart we can see EUR/USD is about to become a long time bear. We have a bearish cross on MAs, Broke an almost 2 year old support trend line and now after retest the trendline a Shooting Star Candle. This trade has big downside potential and for those who love swing trading will certanly appreciate this analysis. I personally am more of a Daily trader, but i spotted this oportunity and wanted to share with you all. If you find this post useful dont forget to leave a like :) See you on next trade, ForexAcademyClub
Short
by RodrigoFAC
1
EUR/USD - From Bull to Bear! Hello traders, I bring you here a trade on EUR/USD, and i must say, EUR/USD is about to Become a Bear for a long time!! I was analyzing the weekly chart and price broke a trendline with almost 2 years and has just retested it and made a Shooting star on the weekly chart. Bearish MAs crossover on the Weekly chart also confirms more downside movement, the final target on the weekly is almost 1000 pips down. I will post later a weekly chart technical analysis if you want to so you can see how crazy can things get on this pair on long term! Big opportunity for us traders for sure. We are now going to touch de 0.5 Fib area and maybe going to retest the 0.382 area, and after that a big move down is expected. Wait for the entry zone to SELL! Feel free to comment your ideia below! If you like this post dont forget to leave a LIKE i appreciate it very much ;) I will update this trade when needed.
Short
by RodrigoFAC
7
Big Experiment (part 2). Line Break ChartBITFINEX:BTCUSD Dear friends, I continue my big experiment with different chart types. In the previous training article, I described the advantages and disadvantages of Renko chart. After that, I was testing the signals, sent by Renko, and those, provided by common technical analysis tools, like MACD and moving averages, on different cryptocurrency pairs. I analyze four-hour timeframe in my experiment. Finally, after one week of tests, I can draw the following conclusions: • The quality of Renko signals mostly depends on the right box size. • MACD oscillator is quite good to find out the appropriate box size. You adjust the box size in the selected timeframe until there are as few false signals as possible, or there aren’t any. • As Renko chart hardly indicates the minor sideways price movements, you can reduce the periods of moving averages by a few times, so that their signals won’t be too late. • To filter false signals, sent by Renko, you also need to use candlestick chart at the same time. • A perfect buy/sell entry point is when the signals in the candlestick chart coincide with the Renko signals. An example of a perfect buy position: An example of a perfect sell position. Finally, I can conclude that Renko chart is an excellent instrument that will perfectly supplement any trading system. The drawbacks are the need to adjust the brick size to each timeframe and the time lags in signals, compared to the corresponding ones in the candlestick chart. The next chart type in my experiment will be Line Break Chart. Although it may seem complicated, it is quite simple to apply. It displays only the price moves that break through the last three closing price levels. The default number of Line settings is three, but you can change it just like the Renko box size, in order to make the chart more or less responsive. Unfortunately, I haven’t discovered the way to change the type of the levels displayed. I believe it would far more interesting to see not the closing price lines, but, rather, the highs or lows, because these movements provide the final signal to determine the trend direction. So, I really hope that someone will hear me and develop such an indicator ;)) To make it clearer for you how a Line Break Chart is built, let’s study it on a real example. There are two charts of the weekly timeframe above. The candlestick chart is on the left. The Line Break chart is on the right. I marked the analyzed zone with the green circle. You see, a long bullish candlestick emerged on July 16. It broke through the closing price levels of the three previous candlesticks (I marked close levels by numbers), and so there is a bullish bar in the Line Break chart (green). Besides, the bar’s high coincides not with the high of the Japanese candlestick, but with its closing level. As you see, in this case, the opening level of a bar in the Line Break chart is always the closing price level of the previous bar. The indicator alone sends quite simple signals. 1. A buy signal is when three consecutive bearish bars (down lines) are followed by a bullish one (an up line). 2. A sell signal is when three consecutive bullish bars (up lines) are followed by a bearish one (a down line). Here, I should mention that many Line Break chart users suggest expecting an additional bar in the signal direction, following the reversal bar (breakout). Therefore, if the pattern is not complete, and down lines are alternated with up lines, you’d better avoid trading. As known, Japanese like creating names for their patterns, and this case is no exception. For clarity, I presented the bullish pattern in the Line Break chart. I marked three bearish bars with the red circle, Japanese call it Black Shoes. The bullish bar, following three black shoes, is marked with the yellow circle. It is called Suit. A white suit means to buy, and a black suit means sell. The line in the green circle is the confirming bar, it is called Neck. Japanese say that you are to buy when the market “puts on black shoes and shows the neck in the white suit”, that is the market a kind of puts on a white bullish or a black bearish suit before it moves on)) It is important, how long is the Suit line; if it is not that long, a false breakout is likely to occur. It occurred in the first case, when the Suite was rather short. In the BTCUSD price chart above, I present an example of a sell signal (similar to the bullish one), when the market has put on a black suit. Basically, this pattern has a big flaw; by the time there is the Neck, a half or even the most of the general trend can be over. To reduce the time lag, you can cut the number of break lines. In addition to this, I suggest doing the experiment with the standard indicators, MACD and moving averages. In the Bitcoin/Dollar four-hour char above, you see that the Line Break chart sends the signal a little later. However, if there is the price sideways move (marked with the red circle), the indicator sends many false signals and is not efficient. There, MACD is of help. In case with the Line Break chart, the indicator doesn’t suggest strong volatility and indicates the sentiment rather definitely; it doesn’t feature the same in the Japanese candlestick chart. Summary: The Line (Three-Line) Break Chart is obviously worth studying and can serve as a confirming indicator of the trend reversal. Like Renko chart, Line Break can remove the noise, resulted from minor volatility during short time periods; however, it is likely to send many false during a long sideways trend inside a wide price range. Moreover, I don’t think it is right to analyze the close levels to spot the breakout, as, according to technical analysis, the more important levels during the price breakouts are the highs or lows for previous periods. To study the indicator in more detail, I’m going to test in practice, applied to different trading instruments. I will present the results of my tests, traditionally, the in the next educational post. I wish you good luck and good profits! PS. If you agree with the forecast write “+” in the comments, if you don’t agree, put “-”. If you liked the post, just write thank you, and don’t forget to share the post. It is easy for you and I will be very pleased :)
BITFINEX:BTCUSDEducation
by Hypov
1