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Patterntrading

Bitshares done with the C wave? hello everyone! After a 6 week long markt crash of cryptocurrencies, I thing we are at the end of what we call "an ABC-correction". An ABC-correction for those who dont know is a downtrend that can take a pretty long time and falls in 3 "waves". The first wave (A) starts at the very top of the past bull-run (=uptrend), mostly heading down pretty fast. The second wave (B) starts logically at the bottom of (A) and heads up pretty fast as well, ending mostly around halfway up the (A). The third wave (C) pul back down again, does it often a bit slower then A and B but seeks much lower points of value.. We think in this case with BTS we will hold our major resistance because its strong, and we have some nice patterns. Bitshares is starting to find the nose of his descending wedge right now, what means don't take action yet. keep an eye on our major resistance. If it breaks down, it will continue to fall lower, and we will have ourselfs a bargain on BTS. If we break the descending wedge on the upside you will have yourself a nice trade... TRADE: medium risk BUY: 0.00003500 SL: 0.00003000 (-13.5%) TP1: 0.00005500 (+57%) TP2: 0.00007000 (+100%) TIME: 2-3 weeks.. If you found this usefull then please hit that like button and follow our page :) Profitable Regards, Perspect.
Long
by Perspect
5
USDJPY - A Buying Opportunity at Structure SupportThe Yen has been a pair that I've had on my radar from the start of the year and honestly speaking, well it just hasn't done too much. That is until now. Recently the Yen has hit 5 month highs against the Dollar, and essentially what that means is that it's retested the previous structure lows that were set back in early September. This level offers a few opportunities. First we have a completed bullish advanced bat pattern at 108.15's Secondly, we have a structure based trading opportunity as the market works its way into a key decision point area. Seeing how we've been "stuck like chuck" in a period of consolidation for the past 10+ months or so, I have zero directional bias on this pair. What I mean by that is, IF the buyers can protect this level THEN I will certainly be looking for a buying opportunity, but only until the next level of danger. I have no reason to believe that price will make it's way all of the way back across the range. Well, at least not enough reason to but any money at risk shooting for that to happen. IF the sellers are able to push through this level THEN there will be the opportunity to take advantage of a breakout/ trend following trade to the downside, likely to the 105 mid level. (Very similar to what we've been tracking on the GBPUSD) We ended last week with a BIG HIT on the GBPJPY & started this week with a BIG HIT on the EURUSD! Excited to see if we can keep this momentum going as we start our active trading this week. Good luck out there traders!!! Akil
Long
by Akil_Stokes
14
TRX/BTC, Looks Like a Price Action Upwards is Ahead.Hey! I am back with yet another chart. This time again on Tron, last chart looked pretty green followed by BTC fall, so now is in the RED way. On this chart you can see a lot of lines and text.. obviously, but no all the red lines are support/ressist lines. The lines are points where price should stop for a while went some % down, and if got some good Volume can follow its path higher. Buy - 410 sat, wait for a MACD confirmation. My target - Around 666, when it will be in this Range I will check RSI and MACD, Fib says its ok target! Gamble Target - 880 sat (Not recommended) Descending Triangle can end up going both ways, up or down. Thats why I have a stop loss. Stop loss - 370 sat. So what more to say, I guess everything important is in the Text in the chart. One last thing, Good luck trading! If my Chart helped you consider dropping a like or leave me your opinion, Thanks!
by TiborVrbovsky
5