{SWC}——Prlexus, Breakout Downtrend LineThank you for your continued support :)
Strategy: Price Volume Analysis
Bias: Bullish, Prlexus was in a downtrend in the past 3 months, after reaching its peak at 1.10. Prlexus made a breakout from the downtrend line with momentum which was shown by significant volume.
If the volume and momentum sustained, SWC believes there will be a positive price movement in near term.
S: 0.780, 0.750
R: 0.850, 0.870
If you find this idea helpful, kindly drop us a like and leave your comment! Happy trading!
Bearish Trend Line
USDJPY Sell IdeaW1 - Price is holding below the downtrend line, bearish hidden divergence.
D1 - Price has broken below the last low and has created lower lows, currently it looks like a retrace is happening.
H4 - Bearish hidden divergence, we may now look for more evidences of bearish pressure in order to join the bears.
SDRL DowntrendSDRL has been in a large downtrend, recently it has seen a large price pump, this may be due to fundamentals however we will stick to charts. A short opportunity has opened with the recent pump, touching the downward trendline and indicative of a possible bearish reversal.
CMCM MomentumIncreasing bullish momentum for CMCM within the current downtrend, a successful descending scallop can also be observed.
26 DEC 2019 BTCUSD SHORT Hello everyone today i see a good opportunity on BTCUSD, as you can see now the trade is going up and it will reach the zone, after it will reach it the trend will reach the zone down, so we can set 3 different tp; Happy trading to all!!
tp1 7076
tp2 6859
tp3 6711
GBPUSD towards 1.30 once again?GBPUSD has been quite slow recently. Volatility in November can't certainly be compared to the one we had in October. The price is currently approaching two down-trend lines: the first one is a long-term one, going through the whole month of November; the second one is a recent one and also forms the upper part of a pennant.
Last candle was quite strong, giving a good action by buyers, but the upper shadow also showed a strong presence of sellers in the market. I place my buy stop entry order above the upper shadow, waiting for a stronger action that would also break the two downtrend lines.
Stop loss below the candle we were analyzing and take profit at 1.2955, applying the concept of measured move to the previous strong up-movement.
BTC Mega-pump hangover into the HolidaysLike my last idea stated, we pumped. That pump was of course more aggressive than I anticipated, so it changes the outlook a bit, but not the mid/long term.
Over the next week or two we will grind towards ~10k, touch it, find support around 9600-9700, volatility will die off and basically go sideways for a bit leading up to Thanksgiving.
This will occur mainly because of the rising 200 MA on the daily (which has been rock solid as far as support and resistance) and the downtrend line from 14k converging finally. Except that patented price squeeze / volume dropping as the BTC whales prepare to shit out the price to the downside.
Then, while you have a face full of turkey, BTC will dump hard and liquidate your happy holiday. :D
Also, check out my website:
bitcoinbattlefield.live
It's a live price tracker for Bitmex with a lot of other information, as well as myriad of audio queues for different price action occurrences.
TRX/BTC DOWNTREND CHANNELBottom of channel confirmed.
Expected to meet top of channel in mid-December, after a small retesting of previous key resistance and support (horizontal line)
Going long for now.
AUD/USD, bearish setupAustralian dollar formed some bearish tunnel. One more bearish movement looks possible.
Fundamentally, the employment change in Australia expected to be bearish.
Simple high Risk and reward potential trade.
EURCAD Buy IdeaH4 - Special cycle completed, retrace happened in the form of double wave down, bullish divergence.
H1 - Bullish divergence, price broke above the downtrend line and also it broke above a strong resistance zone.
We may now start looking for buys with more bullish evidences.
BTC dominance is expecting to be dropped, a chance for altcoins?BTC dominance (BTC.D) is expecting to be dropped, a chance for altcoins?
Bearish signs for BTC.D as shown in the daily chart:
- BTC.D violented key support at around 69%, as mentioned in the previous analysis.
- BTC.D can't break the downtrend resistance, established since the earlier of September 2019.
- At the time, TRIX fails to break its downtrend resistance and being in the bearish area since mid-September.
- MA20 is pointing down with a high angle.
BTC.D will have a small rising to test MA20 (which is a higher edge of the falling wedge pattern), then slowly drops to the Fibonacci retracement 50% (65.8%).
BTC.D dropping is evident tells that the capital is flowing from BTC to altcoins. This, overall, is a good sign of the altcoin market.
The altcoin blooming season is still far away, but altcoins will have good recovery in the next days.
A possible scenario of the crypto market in the next days:
- BTC will have a drop, relatively, BTC.D will have a small rising.
- BTC finds strong support (might be around $6600), then enters the consolidation phase.
- Top altcoins (ie. ETH, XRP, LTC, BNB, etc) will fly when BTC gets stable. Then the next coins have lower market caps will follow the top.
EURGBP second opportunity to trade the downtrendYesterday, we saw our EURGBP short position hitting the stop loss for less than one pip and going down, hitting our take profit at the bottom of the downchannel just like we planned.
Today, the price is offering a second chance to trade the same chart pattern, so we try to enter again with a favorable risk to reward ratio.
Where is BTC in a macro view? What is key support/resistance?Where is BTC in a macro view? What is key support/resistance?
BTC is in a correction, expected to be 2nd wave. We are just in the earlier phase of a new bull cycle.
I think of a sideway move of BTC this month, prepare for new impulse wave on next month.
Most of the things are on the chart.
BTC on it's way down 1/9/2019BTC has formed a channel which also has a triangle within the channel. A bearish break out has formed from the triangle. Also the candles are under the 50ma and 100ma. With the triangle target along with the downtrend channel (which l expect it to stay in) I am expecting it reach the target of 8,000-7,000 with 2 resistance levels which l don't think will be a problem for BTC to go through
BWDIK
BITCOIN falling to 8800$ - Bearish Pennant Pattern for BitcoinWhen we look at the Bitcoin's half hour chart, we can see the reverse pennant formation clearly.
Steep fall on August 29th started the bearish pennant formation. After that move, price of BTC seems forming the pennant pattern. Now we are almost ending the formation and getting ready for another steep downtrend.
Target of this move is around late 8700's or 8800's. I think we will see the formation completion in a few days.
NZDJPY Retesting a 4h Descending TriangleIt isn't the prettiest, but How often are they? Here we see a Descending triangle formed on the 4h hour with at least three touches. We have a candle close under that support and it looks to me like the market is returning to potentially retest that previous orange MONTHLY support zone as a newfound resistance zone to continue the overall downward trend. From a multi-time frame analysis perspective, the monthly, weekly and daily chart are all congruently in a downtrend so this retest here looks to be a great opportunity to jump on the people's trend, get some good gains and a great risk reward. Of course first, we must wait for the candlestick confirmation or however you identify trend being reversed at a zone before we enter this trade for a high probability entry.
I am not a professional, I aspire to be though, but trade at your own risk.
#PatiencePays
BIST 100 index may start to bearish period this weekStarting with the FED's announcement, USD/TRY started to go up. This means Turkish Market top 100 BIST 100 may start a downtrend. Usually BIST 100 and USD/TRY moves opposite directions. Uptrend of BIST 100 started on May 22nd.
When we look at the daily chart price is on support level, RSI is also on support level
On 4hours chart; price is on support, RSI broke the support downwards, moving average is testing the bollinger baseline, parabolic SAR started to point down movement, last but not the least is bollinger bands narrowed down for a steep movement.
Lastly on 1hour chart; moving average has already broken the bollinger baseline downwards, RSI and SAR indicators are also confirming the down move.
Price should be checked to see when the price breaks the support. If the movement will start, first aim would be 101578, if that support will be broken also 100792 will be the next support.
PS: These are just my opinions, you should double/triple check my drawings before making a decision :)
US 30: Bounce before Deep Discount? Distribution PhaseChart says all. IF the TL holds today expect vigorous retrace, a fool's rally; then the End.
Trade at your own risk, this is not financial advice. GLTA!
USD CHF Shorttaking short on the bounce of downtrend line at 0.98800, should've waited for the bounce to enter but I was to trigger happy but will be adding to position when it hits the line.
9:45 tomorrow morning US PMI data will come out
previous 51.5 predict 51.7
may drive down prices if news is negative
sl:0.99073 above trendline
tp:0.98045 at support
Bitcoin down up again before it goes downWe are in another Bear Flag heading down to previous levels...
Could even go down to the four figures again
Bearish ths WeekThe Market will Spike to the High and hit the stop losses to induce traders to go long before reversing it down
GBPCHF ShortsLooking for further downward momentum today, nice break of range and signs of further momentum.
GBP is in poor shape currently and on higher time frames we have no reason to believe this is near the end of the new lows.
