Bitcoins Historic Dump | Key 200 Weekly MA| Bear Sentiment Evening Traders!
History made on Bitcoin with the most epic dump to date, over 60%, what now?
Bitcoin has a key level to hold for a bullish scenario, the 200 Weekly Moving Average, a candle body close below this will send it to sub $3000.
Points to consider,
- Strong bear sentiment (traditional markets included)
- Holding above 200 weekly Moving Average
- Structural support respected
- RSI broke key support
- Stochastics projected downwards
- Volume climax president
BTC has experienced one of its most volatile movements as the bearish sentiment rails over all markets.
Technically it is above the 200 Weekly Moving Average but a close is needed for confirmation, this increases the probability of a temporary bottom in palace.
Structural support was respected with a wick, putting evidence on a volume climax as shown by the volume node.
The RSI has broken its important trend line, approaching oversold conditions on a larger timeframe is important to note.
Stochastics is projected downwards with lots of stored momentum where it can trade for an extended period of time.
Overall, in my opinion, there really is not much plausible with TA as the market sentiment is extremely bearish with the Pandemic. Key technical levels where all negated in a single candle in search for liquidity.
For the temporary bottom to be in, BTC needs to remain above the 200 Weekly Moving Average, a close below will test lower levels.
What are your thoughts?
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And remember,
“The market can stay irrational longer than you can stay solvent.- John Keynes
Exponential Moving Average (EMA)
EURCHF 1D MA-X CROSSOVER STRATEGYTim's MA-X Strategy.
This is a Moving Average Crossover or MA-X Trading Strategy setup.
MA-X strategy consists of the 100 period simple moving average (SMA) in red,
and the 20 period exponential moving average in blue.
If the 20 ema is above the 100 sma then we only take buys or longs.
If the 20 ema is below the 100 sma the we only take selss or shorts.
*In this case price is above the 100 sma so we will only take buys or longs.
*This Pair has been in a nice uptrend foe some time.
*It's now pulled back below the 20 ema and consolidating below the 20.
*We are going to look for a close above the 20 ema to go long.
*This trade plan we buy a daily candle close above the 20 ema.
On the breaking candle to enter a full-sized position we want to the volume bar reach up to the volume average.
If it doesn't reach the average but does reach 75% of the average open a ½ size position to reduce risk.
You can calculate the percentage by dividing the first volume average by the second volume average.
You should at least get 75%, if you don't then stand aside on the trade.
The stop loss will be 1.5 x ATR.
The first target will be 1 x ATR.
So the way that works is you get your candle close above the 20 ema that's your entry point.
At that time you look at the ATR of that candle.
You multiply that by 1.5 to get your SL.
You measure that distance behind the entry and that will be your SL.
Then you measure 1 ATR above the entry and that will be your first target.
If after entering the trade the candle closes back below the 20 ema, tke the loss right then.
Do not wait for price to hit the SL.
Our intention is that a breakout above the 20 ema should be explosive and hit our target fairly quickly.
If the momentum goes away we want to shut the trade down without taking a full stop if possible.
When price hits our first target, close half the position for profit and set the SL to break even on the remainder.
Follow stops as price moves in our direction until the market takes us out.
These two rules are the very definition of cuttoing your losses and letting your winners run.
Typically does this by using two positions.
The first position has a stop loss and a take profit.
That position will close automatically when the first target is hit.
The second position will only have a stop loss and not take profit.
This is the position that will be allowed to run.
When the first target is hit we have to manually move our stop up to break even on the second position.
Risk only two percent of your trading account of each trade.
Each position will then only be 1%.
BTCUSD - BITSTAMP - DailySince last week, Bitcoin has dropped through the previous support levels of $9,150 and $8,500, finding a strong support with a 50% retracement from the previous low. Support has been found just above the static support level of $8,300 and dynamic support from the 200 exponential moving average. We should be seeing Bitcoin looking to retest its previous support line (now resistance) of $8,900 in the coming days. If it breaks through successfully (which is a possible outcome as indicated by support form a 50% price correction and static and dynamic support) the next test of Bitcoin’s strength will be at $9,150 and again at $9,500.
BTC Oversold Bounce|Oscillators exhausted|Probable higher HighEvening Traders!
Today’s update will be on BTC which has negated the cup and handle formation (see chart linked) and now is in an established down trend.
Due to the immense selling pressure, BTC is probable to have an oversold bounce cooling of oscillators such as the RSI.
Points to consider,
- 21 EMA broken
- Structural support intact
- RSI oversold
- Stochastics in lower regions
- Heavy bear volume
Bitcoin has broken all key moving averages on the 240 timeframe; this includes the 21 EMA that kept the recent bull trend together. Major daily structural support is intact; a break of this level will increase probability of further downside.
The RSI is clearly oversold indicating a probable pull back in BTC; if this was to come to fruition it will increase the chances of a higher low in the trend.
Stochastics is currently in the lower regions, can stay trading here for an extended period of time, however lots of stored momentum to the upside.
Evident bear volume has cascaded BTC, a proper climax is likely to confirm a temporary bottom.
Overall, in my opinion, bears are likely to over-extend on selling and create an oversold bounce, cooling of oscillators and putting in a potential higher low.
What are your thoughts?
Please leave a like and comment,
And remember
“There is a huge amount of freedom that is derived from not fighting the market.”
― Yvan Byeajee
ETHUSD 1D BEST SHORT TERM TRADING STRATEGYStep #1: Wait For the Market to Make a New 20-Day High
The way you should count the highs is simple. Each time the market is making a daily high, you can start counting. The rule of thumb is you only count daily highs that are higher than the previous counted daily high.
Step #2: Wait For The Market to Break Below the 20-day EMA
For the success of our short term trading strategy, this step is very important. We don’t want to pick tops and bottoms. We feel more comfortable entering the market once the price confirms it’s ready to reverse.
Step #3: Enter A Short Position When We Break Below 20-Day EMA
As soon as you break below the 20-day exp. moving average, sell at the market. The combination of the 20-day high pattern and the 20-day exp. moving average is the secret to our powerful short term trading strategy. Incorporating the 20-day EMA in your day trading system is one of the best short-term trading tips you can receive.
Step #4: Place the Protective Stop Loss Above the Swing High Prior to the 20-day EMA Breakout
The best short-term trading strategy employs a very rigid stop loss method. The obvious place to “hide” your protective stop loss should be right above the most recent swing high prior to the 20-day EMA breakout. If the market breaks below the 20-day EMA, and it reverses and breaks above that swing high, this means trouble. It is reason enough to close the trade at a small loss.
Why? Because it signals the prevailing trend is still maturing and will resume. This is why you don’t want to be in the trade anymore. If you listen to the price action, this is the best short term trading tips the market can give you.
Step #5: Take Profit at The 50% Fibonacci Retracement of the Prevailing Up Trend
The logical place to take profits is at the 50% Fibonacci retracement. Normally, that’s the first real target from where the market can reverse. We don’t want to take our chances and risk losing more of our profits. So, we’ll liquidate the entire position here for a nice profit.
Note** The above was an example of a sell trade… Use the same rules – but in reverse – for a buy trade.
UBER 21 EMA Break | Bearish Divergence| Corona Virus Hello Traders!
Today’s update will be on UBER, confirming a bearish divergence as the whole stock market tanks in response to recent developments on the corona virus.
Points to consider,
- Failure of higher high
- Critical 21 EMA broken
- Structural support in confluence with .50 Fibonacci
- RSI confirming bearish divergence
- Stochastics projected downwards
- Volume trading at average
UBER has put in consecutive higher lows with a recent failure of a higher high signalling weakness in the bulls. An important EMA (21), broke, a daily close below this level will increase the bearish projection.
Structural support is critical as this area is in confluence with the .50 Fibonacci, buyers are likely to step in if UBER retraces thus far.
The RSI confirmed the bearish divergence by putting in lower highs whilst the price put in higher lows. Stochastics on the other hand is projected downwards with lots of stored momentum.
Volume is trading at average, signalling that pressure from both buyers and seller is evident.
Overall, in my opinion, a confirmed close on the daily will increase bearish projection as the corona virus uncertainty takes its toll on the markets.
A retracement to structural support will be likely if the outbreak worsens
What are your thoughts?
Please leave a like and comment,
And remember,
“In order to succeed, you first have to be willing to experience failure.”
― Yvan Byeajee
200 EMA - best use for entries!I don't use indicators, they're not my style, they lag, they repaint; and in my opinion they don't work.
The 200 EMA on DAILY can be useful because of how slow it is. We can use it to filter the direction of which way we trade.
Price ABOVE 200 ema = ONLY BUY
Price BELOW 200 ema = ONLY SELL
Then drop timeframes for your entries via your strategy whatever that may be. If your strategy says go long but price is below EMA, don't take the trade etc...
Ignore the EMA on other timeframes lower than the daily. You want a slow daily direction indicator.
Don't blindly trade this, wait until price is clearly past the EMA and maintaining a good distance from it.
Use it as a guideline if you struggle working out fundamentals to help you filter a direction to trade.
NOT TO REPLACE FUNDAMENTAL ANALYSIS!!!
BTCUSDT 4H DOUBLE DEATH CROSS LONG TRADE STRATEGYThe double death cross strategy employs one more moving average that will help you anticipate when the death cross signal will occur. The third moving average is the 100-day MA, which is a medium-term MA situated between the other two moving averages.
Step #1: Wait for the 50-day EMA to cross below the 100-day EMA. The two moving averages also need to converge with the price action. You can read more about day trading price action here.
If we get the crossover of the 50-day MA (blue line) and 100-day MA (orange line) at the same time the price is testing those moving averages like it’s doing on the GBP/USD chart below, that’s the best-case situation for trade because we can define the risk.
The rule you need to keep in mind is that when the MAs converge with the price you have to get ready for the ride because it is going to get BUMPY!
Step #2: Multiple entry strategy: Sell1 when we close below 50-day MA and 100-day MA. Sell2 when we break and close below 200-day MA.
Using multiple entries to improve your average entry price can be the best way to approach the death cross signal. Scaling into a position is our preferred trading method when looking to capture a large price move in a currency pair.
The fact that the price was near the death cross signal, it created tension in the market that eventually will lead to a sharp move to the downside.
We pull the trigger on the first half of the trade once we close below the 50-day and 100-day moving averages.
If at the moment when the death cross developed we’re already trading slightly below the two moving averages, sell at the market the moment we close below.
The second half of our position is entered once we break and close below the 200-day moving average.
**Note: It’s important to remember that the success of the death cross signal relays on this simple trade secret that price and the two moving averages need to converge.
Keep it 'simple stupid' is not just a simple aphorism, but it’s an old truth that can make the difference between losing and making money trading.
Step #3: Hide your protective Stop Loss above 50-day MA and 100-day MA
The most important thing we need to define when trading is our risk. If you want to be a profitable trader you really need a limited risk. This is the type of death cross trades that we want to pull the trigger on.
If the price were to move back above those moving averages, we can safely assume this is yet another false trade signal. In this trade case scenario, we’re risking a little and our reward is potentially much bigger.
So, the best place to hide your protective stop loss is above the 50-day MA and 100-day MA.
Step #4: Choose your own Take Profit strategy or use this Two-step process for the take profit strategy: Mark on your chart the high of the candle when the 50-day MA crossed below 200-day EMA. Take profit when this high is broken.
Our take profit strategy might seem a little bit complex, but once we break down the steps you need to follow, it will make more sense why we’ve chosen this approach.
The first thing you have to do is to remember what we said at the beginning of the article which is that when the price doesn’t converge with the two MAs this is a death cross false signal.
In the example below, we can observe this type of price action.
Now all you have to do is to mark the high of the candle when the death cross happened and take profit as soon as the high gets broken.
**Note: The above was an example of a SELL trade using the death cross strategy. Use the same rules for a BUY trade – but in reverse, in which case we have the golden cross trading strategy.
Conclusion - Death Cross Stocks
Following the death cross trade signal can be a very efficient approach to identify bearish sentiment in the market. If you want to switch from short-term trading and try capturing larger trends the double death cross trading strategy can help you achieve your goals.
You must know that the death cross definition is universally applicable to any other asset classes. We can have a death cross crypto or a death cross gold the same way we can have a death cross S&P 500. Capturing and detecting bearish trends can be a hard task because downtrends are typically different than bullish trends. However, the double death cross strategy gives you a systematic way to tackle bearish trends.
S/R Flip| Hidden Bullish Divergence| Holding EMA’s| Scale InEvening Traders!
Welcome to today’s update, focusing on XRPUSDT pairings, which is testing a critical support zone with an evident hidden bullish divergence.
Points to consider,
- Consecutive higher lows in place
- Testing structural support (.382 in confluence)
- Local resistance to break
- EMA’s holding price
- RSI diverging
- Stochastics in lower regions
- Volume below average
XRP’s immediate trend has put higher lows, now currently testing structural support which must hold for a confirmed S/R flip. The structural support is in confluence with the .382 Fibonacci, signalling potential buyers stepping in.
Local resistance is first target in this trend, XRP can range bound trade from structural support and local resistance. The EMA 26, must hold to avoid a bearish cross, it is important to note that it is also in confluence with structural support.
RSI is clearly diverging from price confirming the hidden bullish divergence that is coming to fruition. The stochastics is currently in the lower regions, it too is diverging, putting more emphasis on the bullish divergence.
Volume is currently below average, it will require an influx if the S/R flip holds true, volume will play a role in either direction.
Overall, in my opinion, XRP is testing an important structural support with EMA’s in confluence. It is probable to see a push into local resistance due to the hidden bullish divergence.
What are your thoughts?
Please leave a like and comment,
And remember,
Beginner’s luck often stifles growth. Losses and failure are good for you.
CFDs on WTI CRUDE OIL 1HHOW TO USE 200 EMA TO BUY COMMODITIES.
1 - 200 EMA standard measurement of bullish
or bearish trends in commodity market.
2 - MA breakouts have multiple false breakouts.
3 - Wait for a breakout and then a retest of EMA.
4 - Buy at breakout of high of breakout candle.
If you want to predict which commodity trading levels are worth to base your trade-off, then look no further than the 200-day moving average.
The 200-day EMA is regarded as being the standard measurement of bullish and bearish trends in the commodity market. However, a breakout of the 200-day EMA is not always a reliable signal. The reason is that like with all technical indicators it’s prone to give multiple false signals.
A simple solution to this very common problem is to wait for the breakout of the 200-day EMA and a retest.
This means that you can buy/sell commodities at the first retest of the 200-day EMA.
Now, we know that not many traders have the right amount of capital to invest in the long-term.
Holding a position for a yearlong period is not suitable for everyone.
If you don’t have a big account balance and the patience to ride the cyclical commodity trends, you’re better off if you stick with short term commodity trading
BAT Structural Resistance|Respecting Support|Probable BreakoutEvening Traders!
Today’s update will be on BATBTC, clearly supporting its trend line as projected direction is into structural resistance.
Points to consider,
- Trend putting in consecutive higher lows
- Structural resistance to break
- EMA’s providing current support
- RSI respecting trend line
- Stochastics neutral
- Healthy volume
BAT has been establishing consecutive higher lows; a higher high will confirm a change in the overall market structure. Structural resistance in a staunched level for the bulls to close above, this is an important level at the apex.
The EMA’s are providing current support, must hold true when structural resistance is breached.
RSI is respecting its trend line, looking healthy in this immediate uptrend into the apex. The stochastics on the other hand is neutral, stored momentum in both directions.
Volume has been healthy, must sustain an increase upon break of structural resistance.
Overall, in my opinion, BATBTC has a clear structural resistance to break in order to change overall market structure. A break needs to be backed with viable volume, target are at equivalent resistances.
What are your thoughts?
Please leave a like and comment,
A remember,
Trading is mostly a waiting game. if you want action that happens on your own terms, you’re in the wrong field.
BQXBTC Equilibrium| .618 Fibonacci| Break Imminent| Trade Setup Hello Traders!,
Today’s update will be on BQXBTC, a clear equilibrium playing out after an initial bull move topping out, leaving a probable trade setup.
Points to consider,
- Equilibrium at apex
- Price holding .618 Fibonacci (support)
- .50 Fibonacci as resistance
- EMA’s neutral
- RSI in equilibrium
- Stochastics projected downwards
- Low volume
BQXBTC is trading right into its apex, a breakout is upon fruition with a higher probability of breaking bullish as local support held true. This support level is in confluence with the Fibonacci retracement (.618 Level), signalling a strong potential base.
The EMA’s are currently neutral, not a clear metric to determine if support or resistance as of now. The RSI is also travelling into its apex, signalling a move is imminent at any current given time.
Volume has been clearly dry, important to note as an influx will be required when BQX leaves this current equilibrium.
An entry is valid on the .618 Fibonacci level with a stop loss just under previous higher low.
What are your thoughts?
Please leave a like and comment,
And remember,
“Genuine acceptance that there will be losses on your way to market success will greatly decrease the hurt when they eventually come.”
ETHBTC Structural Resistance| Buyer Exhaustion| Lower High Evening Traders!
Today’s update will focus on ETH’s recent developments of getting rejected from structural resistance; a retrace is probable to the .382 Fibonacci.
Points to consider,
- ETH Parabola rise
- EMA’s currently support
- Structural Resistance tested
- RSI overbought
- Stochastics topping out
- Noticeable bear volume
ETH has had an insane parabolic run straight into a technical trade location, the structural resistance which has initially rejected it. EMA’s currently holding ETH as support, must hold true to continue with a bullish bias.
The RSI is currently overbought; a cool off to neutral territory is probable. The Stochastics is currently topping out, lots of room stored to the downside.
ETH has evident bear volume, signally potential buyer exhaustion leading to a healthy pull back in the trend.
Overall, in my opinion, ETH is likely to retrace from such overbought conditions to cool of technical indicators. The Fibonacci level to pay attention to will be the .382, a healthy bull trend tends to respect this level.
What are your thoughts?
Please leave a like and comment,
And remember,
“Every trader has strengths and weakness. Some are good holders of winners, but may hold their losers a little too long. Others may cut their winners a little short, but are quick to take their losses. As long as you stick to your own style, you get the good and bad in your own approach.” Michael Marcus
Silver Lower Highs| Key Support| Apex| Break imminent!Evening Traders!
Today’s update will be on the traditional store of value instrument – SILVER – which has been putting in consecutive lower highs, a well-defined resistance line.
Points to consider,
- Bear trend with consecutive lower highs
- Key support held
- Resistance line break imminent
- EMA’s holding support
- Stochastics in upper regions
- RSI currently neutral
- Volume below average
Consecutive lower highs are imminent as bears are in current control, trend will be negated if key trade locations are broken. Structural support held, which is in confluence with the .618 Fibonacci level, signalling that buy pressure is strong.
Staunched resistance has been established, a break attempt will be imminent when Silver travels closer into its apex. The EMA’s are currently holding Silver as support, does looks weak at current given time.
The stochastics is in the upper regions, can stay trading here for an extended period of time, however lots of stored momentum to the downside. The RSI, on the other hand is quite neutral with no clear direction.
Volume is currently below average, an increase is likely upon a break of key trade locations, either the support and or current trend line resistance.
Overall, in my opinion, Silver is closing in on its apex; a move will be imminent, structural support is a strong area from a historic point of view. The staunched resistance trend line has been tested multiple times, the more times a resistance/support is tested, the more it’s likely to break.
What are your thoughts?
Please leave a like and comment,
And remember,
“All statistics have outliers. Money management, therefore, is key to the process of good trading.”
― Yvan Byeajee
Netflix Breakout to All-Time HighSorry I've been away for a bit. Had personal things to take care of, but I have a lot in store for the upcoming weeks. Let's get right back into it!
In this chart we're looking at Netflix on the 1W chart as price has consolidated into a beautiful symmetrical triangle. Price is currently breaking through the descending boundary and is attempting to confirm breakout after a clear 1W candle close above the $373 area.
This symmetrical triangle has a price target of around $527 for about a ~45.5% gain.
This chart pattern breakout is occurring above the 200EMA, so the probability for price continuing to the upside is even higher.
If you would like to see more of these ideas on a regular basis, follow me as I will be posting many more exciting chances to earn on chart pattern breakouts this upcoming year!
Drop a like or comment if you found this idea informational or helpful in any way!
Cheers!
AAON Breakout to All-Time HighIn this chart we're looking at AAON on the 1D chart as price has consolidated into a rectangle. Price has broken out through the horizontal boundary at $52.50 and has confirmed the breakout by breaking through the $53.29 area.
This rectangle has a price target of around $61.67 for about a ~17.5% gain.
This chart pattern breakout is occurring above the 200EMA, so the probability for price continuing to the upside is even higher.
If you would like to see more of these ideas on a regular basis, follow me as I will be posting many more exciting chances to earn on chart pattern breakouts this upcoming year!
Drop a like or comment if you found this idea informational or helpful in any way!
Cheers!
BCHUSD S/R Flip| Low Volume| Move Imminent! Hello Traders!
Quick update on BCHUSD, where an important support zone is approaching, a hold will confirm a macro S/R flip.
Points to consider,
- Trend bullish
- Key resistance broken
- S/R Flip retest (.50 Fibonacci)
- Stochastics in lower regions
- RSI hitting support
- MA crossed bullish
- Volume Declining
BCHUSD’s trend has put in a new higher high, negating the bearish structure from yearly lows. Key resistance has been breached; BCH is now consolidating above as the S/R flip comes close to fruition, a test of the .50 Fibonacci is probable.
Stochastics is currently in the lower regions, can stay trading here for an extended period of time, however lots of stored momentum to the upside. RSI is hitting its potential support; a bounce may come to fruition as oversold conditions are not farfetched.
MA’s have crossed bullish, must hold BCHUSD as support when resistance levels get tested. The volume is clearly declining; this signals that a break in either direction is imminent.
Overall, in my opinion, BCHUSD has been consolidating above a key support level thus another leg up may be more likely, but this needs to be back with bull volume – Volume is rapidly declining.
What are your thoughts?
Please leave a like and comment,
And remember,
“Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.”
― Yvan Byeajee
CADJPY 1D MA-X STRATEGY CONTINUATION LONG Tim's MA-X Strategy.
This is a Moing Average Cross or MA-X strategy setup.
MA-X strategy consists of the 100 period simple moving average (SMA) in red,
and the 20 period exponential moving average in blue.
If the 20 ema is above the 100 sma then we only take buys or longs.
If the 20 ema is below the 100 sma the we only take selss or shorts.
*In this case price is above the 100 sma so we will only take buys or longs.
*This Pair has been in a nice uptrend foe some time.
*It's now pulled back below the 20 ema and consolidating below the 20.
*We are going to look for a close above the 20 ema to go long.
*This trade plan we buy a daily candle close above the 20 ema.
On the breaking candle to enter a full-sized position we want to the volume bar reach up to the volume average.
If it doesn't reach the average but does reach 75% of the average open a ½ size position to reduce risk.
You can calculate the percentage by dividing the first volume average by the second volume average.
You should at least get 75%, if you don't then stand aside on the trade.
The stop loss will be 1.5 x ATR.
The first target will be 1 x ATR.
So the way that works is you get your candle close above the 20 ema that's your entry point.
At that time you look at the ATR of that candle.
You multiply that by 1.5 to get your SL.
You measure that distance behind the entry and that will be your SL.
Then you measure 1 ATR above the entry and that will be your first target.
If after entering the trade the candle closes back below the 20 ema, tke the loss right then.
Do not wait for price to hit the SL.
Our intention is that a breakout above the 20 ema should be explosive and hit our target fairly quickly.
If the momentum goes away we want to shut the trade down without taking a full stop if possible.
When price hits our first target, close half the position for profit and set the SL to break even on the remainder.
Follow stops as price moves in our direction until the market takes us out.
These two rules are the very definition of cuttoing your losses and letting your winners run.
Typically does this by using two positions.
The first position has a stop loss and a take profit.
That position will close automatically when the first target is hit.
The second position will only have a stop loss and not take profit.
This is the position that will be allowed to run.
When the first target is hit we have to manually move our stop up to break even on the second position.
Risk only two percent of your trading account of each trade.
Each position will then only be 1%.