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BITCOIN: BTCUSD Still good above 2750BITCOIN: BTCUSD Long story short: Bitcoin good above 2750, bad below same level. Looks like the pivot for price action today. Longer story:BITCOIN: BTCUSD Even addicts have to sleep sometime. What terrible timing. Left Bitcoin with a last update to short as price came back up to test the parallel and failed - which it did precisely - but failed to write the obvious next step...watch to see how it reacts at the low when re-tested...if it holds up close down shorts...that may seem obvious to experienced traders but could have destroyed a newbie. Apologies for that oversight. That double bottom overnight was so perfect too - but it took great trading instincts not to just close out shorts as the original low held up on the re-test - but to switch positions around from short to long - if you managed to do this you win outstanding trader of the day award, no contest. The last line of the update stated that Bitcoin had to regain 2750/5 and hold before vulnerability to bear attacks would wane. Since then Bitcoin has managed to regain that level, rallied to test the next listed resistance at 2805, come back to test 2755 from above and held and is now rallying from this level again as this is written. Once more a massive bear attack has failed to derail this train. But Bitcoin is still not out of the woods yet. It must hold 2750 at all costs now - any failure here will tip it back into bear territory and likely force it back to 2692-2686 range and should this fail back down to the overnight lows again. As things stand it looks like more sideways movement is likely in near term. Overhead resistance at 2805 and more at 2832 need to be overcome to open up the way for another re-test of the highs at 2930 (will have to break 2945 now to clear the way for more buyers to enter and push price on to new highs from here) - but it looks to have really slowed down again and buying power looks to be waning...Bitcoin is near term positive above 2750 and negative below here. Expect more sideways trade above 2750 and not much pressure on price above here - but if 2750 is lost it invites more bears back into the market. This level is the old high - and means everything to where Bitcoin goes from here. Whilst it can hold it Bitcoin is fine. But if it loses it again it's another short for day traders and the rest should stand back as another wave of selling should kick-in. Need to be very disciplined and emotion-free to trade Bitcoin right now. Newbies please stay away until the dust settles more.
BITSTAMP:BTCUSDLong
by sumastardon
1
GOLD:XAUUSD Gold broke out of a 6 year long downtrend on FridayXAUUSD: Gold Friday was a very special day for XAUUSD: it broke above a six year long down-trend that's been in play ever since the high was reached in 2011. All it has to do on Monday is hold above that line and not get sold off - gold should then rally to 1301-4 range. But it also looks as if it could well push higher by about $90 or 7% from here once it's proved it's strong enough to stand above the big dividing line come Monday. Why would it do this? Break 6 years in a downtrend...could it be that Comey has knowledge of the fact that the President (indirectly obviously) laundered/legitimised red-hot Russian money via his golf empire - stable assets scattered all over the world for the ultimate hedge - likely arranged at arm's length by the super smart Jared. This arrangement suited the Russians and it suited the President - and that's how Jared made his bones with the Prez. That much seems obvious even from this side of the pond. The question is: does Comey have any evidence? He's certainly got motive now. Who would call the guy he's fired a 'nut-job' ? Except either a nut-job...or someone so confident he's bullet-proof because...again he's mad or really does know that Comey has nothing on him. Now Comey has to make his mark - has to show the world he's not a nut job. The stage is set. The world, not just America, awaits Thursday with baited breath. And markets don't like uncertainty, do they? And loss of confidence in the Trump ideals will spell loss of confidence in the Dollar and on the other side of the coin, a mini-flight into Gold. Maybe this is what the gold chart is hinting at. Time will tell
FX:XAUUSDLong
by sumastardon
Motivational message: STOP Asking for EasyTrading Psychology Definition | Investopedia Trading psychology refers to the aspects of an individual's mental makeup that help determine whether he or she will be successful in buying and selling securities for a profit. Trading psychology is as important as other attributes such as knowledge, experience and skill in determining trading success. #BeSomeone Production "All rights reserved" Daily Trading ideas and more, My channel: www.tradingview.com Best wishes !
Education
by fxCROWN
2