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Renko

Bitcoin up to 13 000? Bitcoin (BTCUSD) Renko chart analysisHey guys, After a long time I made a new idea! So after some analysing I took a look at the renko chart, which I mostly use for finding support and resistance. After I watched the renko chart for a while I saw a pattern and now the Bitcoin is repeating it. With this repeating pattern I saw a trading opportunity. This are the details: Buy: 10 000 At this point the new pattern will break the last lower high. Take Profit: 13 000 If it goes exactly as last time, the price will go up to 14 300. However, we are reducing the risk a little bit, so I set the Take Profit to 13 000. If something is not correct of if you have any tips, just let me know in the comments! As I'm only 15 years old I still have a lot to learn, so if you have something to say, just let me know! Goodluck with trading!
BITSTAMP:BTCUSDLong
by UnknownUnicorn4990706
10
BTC/USDT FOMO OR FUNDAMENTAL 14K PRICE TARGET. MTFA ENGLISHHello Traders. The moment of truth is upon us. We have all been spinning our wheels analyzing to no end. The truth is, we do not know where will go, but trust in TA and always remember, your trend is your friend till the end. I hope you all profit heavily from this halving event, long or short, just please do not buy into the bullshit. Trust your TA, trust your mentors, and most of all, trust yourself. Live long and profit. -zm
Long
by Z3R0Matrix
USDJPY Daily ShortWhile I normally stick to equities or futures, I browsed over a few forex pairs and this popped out at me. On both of my charts that I use when doing technical analysis, USDJPY is showing some pretty bearish indicators. On this chart, price bounced off of a strong prior resistance as it is starting a descent. I notice reduced buying pressure on the MACD histogram, as well as the price being below my Ichimoku Clouds (If you aren't familiar with it, I use it as dynamic support/resistance as well as general trend) Rule of thumb, if the price is under the cloud and the cloud shades in red, that is both a bearish indicator as well as a rough level of resistance. The price action on the candlestick chart shows a bit more noise and I feel that my renko chart suggests more bear action to come. The hair in the soup is the MACD strategy I use that signals bullish/bearish entry suggestions signaled for more bullish action.
Short
by UnknownUnicorn7114726
1
Update: I'm just slow but hey it workedSo I called out a potential UVXY trade and I missed the one indicator that every trader relies on Resistance However I mentioned that I was wanting to sell premium, and this retraction was actually beneficial to my theta gang strategy on my paper trading account 5pt iron condor at strike 85/90 call strike 45/40 puts strike It gained $50.00 P&L today bringing me to p&l open of (22.50) Theta: 9$ per day $2500 bp effect profit zone= 20-25% of max p&l P&L % (-%1.44) Re iterating my ridiculous price target yesterday Id want UVXY to stay between $55-65 until market close on friday.
CBOE:UVXY
by UnknownUnicorn7114726
(I'm a newbie) Analysis of LTC EUR - Kraken - Renko - DailyJust learning and sharing so I can get some constructive feedback on what I am seeing and what I am not seeing in my chart analysis. If you think I am insane, that's cool. Just be sure to tell me why so I can learn :) I am doing my best to keep things simple and follow solid trends and retracements keeping trading/market psychology in mind. I made this analysis using Renko bars to get stronger trends on average price action. I used the green time span circles to get an idea of how the price action moves the market along and better understand where I might be able to find buy-in and take profit points. On the main chart, I pulled the time cycle from the beginning of the first large wave to the centre of the peak to get my estimated time frame for when I can expect the peak of the following wave. In the RSI, I pulled a fib retracement from the all time high in the RSI around the beginning of 2018. This showed me that all subsequent peaks in the RSI "uptraces" to the .5 on the fib. On the most recent wave in the RSI, I pulled a fib from the peak to the newly formed low - this showed me a that all previous peaks lined up with the .618. Using the time cycles tool, I identified that the predicted peak I created on the chart lined up exactly with the predicted peak on the RSI.
Long
by dbs2020