EURGBP #Forex #ForexTrader #ForexTrading #ForexChartPossible EURUSD shorting opportunity on the horizon.
Still trading below the 200MA on the daily TF.
Will see how price reacts around the 1.12 Level
200ma
$TEAM Is A Swing Trade After Holding Key Support $TEAM held the key support level of $120 during yesterday's $WDAY selloff. The 200-day moving average of $120.32 held as the low for the day was $120.41 a share. We expect a strong bounce over the next few days as a swing trade.
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As always, trade with caution and use protective stops.
Good luck to all!
BTCUSD Critical Level to break for Bullish Continuation! Hello Traders!,
An update on Bitcoin today, testing a very key resistance zone with multiple technical confluences. We have had a bullish daily candle close right below the 200 MA after trading in range bound in the orange box. Bitcoin will be extremely bullish if it breaks above this zone after an initial triple bottom…
Points to consider,
- Price testing parabola trend
- Local support at $7800 area
- Major Resistance at
o 200 MA
o .50 Fibonacci Level
o Structural Resistance
- Stochastics showing upwards momentum
- RSI reaching resistance
- Daily volume right below average
Bitcoin is trying to push further up in price but is being held by extremely heavy resistance. Price is testing its current parabola trend line, if respected, will put in a higher low, which is very bullish.
Local support currently is at the $7800 region, price has tested this area multiple times, putting in a clear triple bottom before this recent bounce.
Major resistance is in confluence with multiple technical indicators such as the Fibonacci and the 200 MA. This is a very critical area for BTC to break as it will confirm continuation of this overall bull trend. A rejection will most probably push BTC back down in the orange box and retest the triple bottom. This will be a very bearish sign as the more times a technical level is tested, (Support or Resistance) the more prone it is to break…
The stochastics is showing upwards projection, bulls still have more upside momentum stored as it is not overextended. The RSI is currently approaching its resistance; a break of its resistance will increase the probabilities of the bullish scenario.
Volume is very key at this critical point in the trend, we are trading right now just below average, a bullish break needs to be accompanied with heavy bull volume as this will rule out any chances of being a fake out…
Overall, IMO, BTC is more probable to break the 200 MA as the recent pump has held its ground from its triple bottom formation.
We will have a very good trade opportunity if and when BTC breaks this major resistance level…
What are your thoughts?
Please leave a like and comment
And remember,
“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street.” – Jesse Livermore
$PSG testing the 200wma (observation)PSG is testing the underside of the medium term trend line which acted as support since 2015. Recently we have seen the price of PSG run up to test this trendline which failed as support during August. What is also interesting to note is that in 2018 the 200 week moving average (green line) acted as support twice which could now act as resistance on this test. Not making any brave calls here but just an observation of the importance of this level we are currently facing. Should the stock not manage to clear the 200 wma (currently R226.62) on the weekly close.. then watch for the possibility of another move lower in the share. Of course, a close and break above the 200 wma will be important in reinstating the bullish picture for the counter going forward.
EURUSD - 200 Moving Resistance :)Hi Traders!
The market is moving under the 200 MA and it is in a strong downtrend.
Every time when it is bouncing back to the 200 MA, it goes down.
Now it is in another potential reversal move and the MA is near again.
We expect the market to continue the downtrend until the level 1.08832.
Thanks and good luck :)!
Can we avoid a bear market death cross?Definitions of a bear market vary, but there are three truly fundamental ways to define it:
Are we below the weekly 21 EMA = YES.
Are we below the daily 200 MA = YES.
Is the daily 50 MA below the 200 MA = almost.
Despite its sensational name, a death cross (and indeed a golden cross) are incredibly reliable indicators of the approaching market trend. We last enjoyed a golden cross on 23rd April, just days before the 177% pump we then experienced throughout May and June.
However , with BTC now held firmly by 200 MA resistance, we have an incoming death cross due to occur on or around 21st October. If this happens it massively increases the likelihood that we are back in a confirmed bear market and heading down to retest the range between $4000 and $6000.
Do you believe we can avoid a death cross? And will it confirm that we are indeed in a bear market?
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
DAILY BTCThe daily has a green TD 2, though is encountering resistance at 200 day MA.
let's wait the close to understand if this move up is exhausted or there is some more room.
7% dip below the 200ma is normal
As you can see a candle close below the 200ma is normal in a bull market. a rebound to the upside is most likely here as the fud from the hash difficulty was misinformation because of slow blocks and estimate errors. New ATH are still in sight. However if this level breaks down a bear market could be in effect.
BTCUSD: Stuck In A Symmetrical Triangle Ready To Break On 1 HrFor over a day and a half Bitcoin has formed a symmetrical triangle against the dollar, while being stuck between the 200 Day MA and the 200 Day EMA . The symmetrical triangle is 52 bars (2d4h) long with 75% completion working out as 39 bars (1d15h) - the current hourly candle. Notably the 200 Day MA is no longer in the triangle, so a retest would therefore breach the triangle pattern. I'm therefore now looking for a small move 6%+ in either direction, likely retesting the breakout levels (or the end of the symmetrical triangle) before continuing to move in the same direction a little further.
The breakout target to the upside if the pattern is broken as expected would be $9099 (to descending triangle resistance), while to the downside $7807, breaching local support and heading close to the 100 Week MA at $7850, where the price would likely stabilize temorarily in my opinion (<$8k).
Note symmetrical triangles are considered neither bullish nor bearish but continuation patterns. In this case, a continuation of bearish momentum, despite bullish divergence on the RSI as well as a positive CMF and MACD.
Price stuck Between 200 Day MA & EMA (25/09):
Descending Triangle Quick Short To Support (23/09):
Measuring The Move of the Descending Triangle Breakdown (15/09)
A repeat of 2014? Worst Case Scenario A $2,500 Low (15/09):
If Bitcoin Repeats History? Extrapolating 2012 Breakdown
BTCUSD: Descending Triangle Quick Short To SupportQuick short from the 4hr descending triangle breakdown at $9849 when it comes around again for the third time and anticipated today or tomorrow, probably after a final rejection from $10k. Target is the base of the support area at $9275 with a tight stop loss at $10,101 (2.56%), probably initially to liquidate some overleveraged longs. All short and long-term moving averages are trending south, in bearish formation (20,50,100,200) with the RSI forming bearish divergence while getting rejected from neutral territory at 40.
Risk reward is 2.28.
Altcoins Market 4hr: Ascending Triangle Turns Rising WedgeAfter getting rejected last night from the ascending triangle breakout, the altcoin market appears to be forming a bearish rising wedge pattern (purple) while falling below the 200 MA. If the price continues to correct back down to the ascending triangle (green) trendline and finds support this would be a bullish sign. If the price continues to move upwards from the current 4hr low, it will confirm the bearish rising wedge pattern and likely breakdown to previous support levels. Current outlook is therefore leaning bearish unless price finds support from the ascending triangle. Finding support above the 200 MA should be easier within the ascending triangle, which it is now entering.
See previous ascending triangle analysis:
BCHUSD: Ascending Triangle With Daily Moving Averages Coiled UpAscending triangle drawn on 4hr chart (similar to LTCUSD as well as ETHUSD ) and applied to 1 day chart due to relevant moving average resistance above triangle to be cautious of. A move above $313.30 would create a new swing high while breaching the 50 & 200 Day MAs (that are trying to bear cross) making the trade a position worth risking. The measured move for the breakout is $346 (+10.5%) with a 2.3 ratio. BCH is still btrash though.
Altcoins Ascending Triangle On 4hr Just Like ETH, LTC & BCHWhile everyone's watching Bitcoin's descending triangle, traders are missing the ascending triangles in altcoins...
Altcoins market ( CRYPTOCAP:TOTAL2 ) has returned to the horizontal resistance level of the 4hr ascending triangle. Similar to Litecoin , the price is finding resistance at the 200 MA, while the descending triangle support has become the resistance level of the ascending triangle. The ascending triangle has enough points of contact, but is only 50% complete, therefore anticipating a bullish breakout in a few days prior to Bakkt's launch on September 23rd, followed by a pullback.
Further reading:
ETHUSD Ascending Triangle Breakout On 4hr
LTCUSD: Another Ascending Triangle on 4hr Like ETHUSD
BCHUSD: Ascending Triangle With Daily Moving Averages Coiled Up
ETHUSD Ascending Triangle Breakout On 4hrPrice has broken above the 200 Moving Average, target for the triangle breakout is around $198 as shown by the golden line. Position taken @ $186.09, stop loss $180 (due to weekly turning bullish) rather than $183. Will move stop loss up to $183 if price gets instantly rejected by $191 area of resistance. Target is $199 (2.11 ratio). Note that the 50 Day MA is at $194.75 and the 200 Day MA is at $204, so not getting carried away with this trade.
LTCUSD: Another Ascending Triangle on 4hr Like ETHUSDSimilar to ETH's ascending triangle that developed in past two weeks, Litecoin against USD on the 4hr is in a much cleaner bullish ascending triangle while facing resistance at the 200 MA. The 50&100 MAs have already had a bullish cross, oscillators are looking bullish. Will open a position above $73.25 (above previous swing high) with tight stop loss at $69 for a 2:1 ratio. Horizontal resistance levels around $79-82 with the measured target for the triangle breakout at $82, shown by the golden line.
EURAUD LongDemo account, newbie.
Bullish bat might complete right on 200 day moving average and a trendline.
Descending Triangle BreakdownIt may happen tomorrow or it may string us along until the end of the year but it would seem this descending triangle has the potential to drop back down to support from LAST YEAR'S descending triangle. If this takes as long as before and we end up consolidating well into it's apex that would give time for the 200 week MA to move up and create strong support again as well (just like last year). This also makes sense with the Fib retrace because dropping to last years support would put us in the "golden pocket" between the 61.8% and 65% lines. I drew the fib using monthly candles which is why it falls a little short from the top of the triangle, but considering how volatile price action was around that top, I feel it's a good spot. I am short until we reach the buy zone between 8500 and 5000 (I doubt it will fall past 6400 & 6000 though). Then I will gradually transition long for the inevitable run back up as we approach the halving next year.
McBride now bearish; more downside expectedMcBride's now bearish
Now outside of it's trend channel
and below its 200 EMA
$OSTK painting a doji as it bounces off of 200MA and cloudClearly oversold and days away from a dividend date of record. Shorts have borrowed all available shares with 65% of the float sold short.
BMW Monthly Statusstrongest support for BMW as MA200, bottom of channel and 61.8% Fibonacci level
XETR:BMW
