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BCHUSD Tracking new parallels and grinding higher againBCHUSD Buy dips again but keep an eye on Bitcoin This produced one of those perfect breaks today that all traders love...the trigger was a break above the smaller continuation pattern back down towards the lows at 1400 - the minimum target was 240-258 points higher at 1620-1638. The high of the day was 1638. How many managed that? Top trader today if you did! So now, having just lost 10 points going long at 1540 it looks time to try again here. This movement sideways has shifted BCH from under the bigger parallel that was halting advances last Thursday at the same highs as today, creating a minor double top - at the same time the pattern has shifted so that BCH is now tracking a loosely defined pair of parallels with a good strong pin bar violating the lower line and then a series of smaller pins around 1479...but on upside it's testing resistance at 1517 up to 1539...look to buy dips to 1482 and down to 1461 if touched (put orders in, you never know (all stops must be below 1455 for now). It should grind forward again, using the lower parallel as supoport/buying opportunities towards 1618-1638 and then, after another pause, on to 1707 and 17766. This is good whilst within the parallels. Bad if and when if loses the lower parallel. If at any point we see this close out all longs and consider shorting on next pull back towards the parallel from below, once lost - don't think so , but we need a plan B in case as Bitcoin is frisky and the fate of BCH is pretty much dependent on BTC from here.
BLong
by sumastardon
1
Bitcoin:BTCUSD Buying power grows again - Bitcoin: BTCUSD Last Post That's another pin bar formed on the 2 hour chart showing quite aggressive buying lower down...can't deny it's still in danger whilst trapped under the parallel but price action shows sellers are being absorbed now at ever higher prices. It can still fail at any point whist under that parallel but even from here do not want to get tempted by a short due to the danger of whipsaw - still evident by that recent pin bar. So the waiting game continues - but now accepting that this really could go either way...it's Bitcoin. It really is possible to still escape...the Head and Shoulders pattern is not complete, and won't be unless 6910 gives way. Therefore need to be prepared for break either way, looking at it 50/50 now and trying to stay prepared for a break either way, as per previous comment. One last point: for Bitcoin to make another break to the upside and defy the bears just when it looked like a big bear raid was building momentum would be a hell of an escape act and should propel it considerably higher still as a result - so whichever way this breaks should be worth following, hopefully without getting stopped out this time around. Be lucky, especially with stops.
BITSTAMP:BTCUSD
by sumastardon
1
GIII- Flag formation continuation Long from $25.83 to $35.87GIII seems forming a flag formation. Moneyflow crossed to the positive side. Interesting insider info- CEO as been a long time seller of his stock but has recently bought a bunch which is the first purchase since 2011. We think it will continue its flag formation & can go up to $36 area. * Trade Criteria * Date First Found- June 7, 2017 Pattern/Why- Flag formation continuation. Entry Target Criteria- Break of $25.83 Exit Target Criteria- $35.87 Stop Loss Criteria- $21.77 Please check back for Trade updates. (Note: Trade update is little delayed here.)
NASDAQ:GIIILong
by AcornWealthCorp