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XauUsd September OutlookWe are expecting the yellow metal to continue its uptrend till the last week of September, that's when we can see some sort of sell off coming in.And that would make it a short term top for Gold.Gauging from the speed of up-move the prices could go to the levels between $1360-1380, that's 2-3% rise from current levels. The severity of selling would have to be seen to anticipate, how long will the downtrend continue and whether it will be a pull-back or change in trend. We will update when changing dynamics necessitates so.
FX_IDC:XAUUSDLong
by UnknownUnicorn1307339
2
Litecoin - Moving exactly as expected. $75 target. Your levels.In my last post, I posed the idea that we were forming a new larger triangle. I expected that we'd bounce around a bit between our $50 support level and the top of this new triangle before building up enough energy to break through our previous all time high. This we did! And to my surprise this price action occurred even sooner than anticipated! We are now well on our way to that $75 target that I've been calling for for several months now. Congratulations to all those who maintained stamina and faith in Litecoin while it was stagnant and it seemed as though ALL other coins were moving. It was hard. Trust me, I know. But your patience is now rewarded! So Congrats! Your levels now are easy to remember. You've got two supports below you: 1) $57.75 2) $55 Possible strategy idea: You wouldn't be wrong to sell here (currently around $65). I am thinking about selling here, waiting for consolidation, and repositioning when we dip back down to $57.75. However, that is somewhat of a risk as we don't know how high we'll go before the buying resides. There is a good case for this strategy however. Here's my case: Near the top of my bull channel Above top of Bollinger Band RSI overbought That is one long candle! The choice is yours of course. But do let me know how you proceed. Will you play it safe and HODL? Or will you sell and reposition at a better price? I'm curious. Please let me know in the comments below.
COINBASE:LTCUSDLong
by stewdamus
22
If Bitcoin does this, we'll go to $4800+Let's play a game. Count the ascending triangles. Do you see them? There are 3. The first two are history. We obviously broke out. We are working on the the third and final. If we break above and close higher than this last triangle, we'll go to $4800. The second ramification of this potential breakout would be the formation of a new BULL channel. I've outlined it in BLUE. This is obviously a steeper and much faster paced upward slope. Confirmation of this final target before consolidation is a close above the third ascending triangle. Watch closely. I will put nothing past these BULLS. ...But then consolidation. Caution is advised. It's coming. Happy trading all!
BITSTAMP:BTCUSDLong
by stewdamus
5
Bitcoin Bounced - Now What?So, we bounced before and on the 4th as expected. But now we're up against that $2600 ceiling again and can't seem to close above it. As we continue to struggle with these upper levels, it is becoming increasingly clear that the market is not willing to do much more here before BIP 148 on August first. I've said all along that I'll remain bullish as long as we continue to remain within the green channel on my chart. However, it is looking more and more like we are going to test channel support once more, and if we do, I am not sure how much longer we can hold until breaking through. Long story short. It's uncomfortable down here near the bottom of our channel. But it's this simple. Above the bottom channel support = hold. Below the channel support = sell. And for me personally, I will probably sell and sit on the sidelines and observe until these forking issues all look to be resolved. Until then, have fun trading my friends.
BITSTAMP:BTCUSDLong
by stewdamus
EURNZD Trading PlanWith the dust of Brexit still settling there is much uncertainty as to the direction of the world economy, we saw a significant drop in the GBP. As the U.K stabilizes itself with the injection of £250 Billion from the Bank of England (www.independent.co.uk) coupled with the threat of other EU member states considering there own exits (France & Holland) this will lead uncertainty and may have a domino affect as suggested by Germany (www.foxnews.com). No doubt a gloomy future for the Euro hence why Economists are considering the Euro to collapse in 3-5 years (www.cnbc.com).
by TheConcierge
1