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USD/JPY - 1DI have spotted that this pair is at a support that has been tested a few times, i think looking at the RSI on the daily which is at 35 and the EMA which is far from price these are both indications that price could move up. i am just waiting for a confirmation to enter i have placed a marker as to where i think price will move i have set a 150 pip SL with a 293 pip TP. which is nearly a 1/2 risk reward. if price hits 106.100 i will consider taking some profits and moving SL to EP. 106.100 is a fib retracement level so i will monitor this trade at this point. Let's see how this goes.
Long
by IJMInvesting
61/80% golden pocket fib retracement with the precision bounce.As anticipated we got some bounce love from the golden fib retracement level at 61.80%. However it has not bounced us high enough to reclaim the 1 day 50ma(in orange) as support just yet...Reclaiming that support is pivotal..If we can't flip it back to solidified support within the next 3-5 days then the bull market will likely be over...hopefully we will see a huge bounce here. We still have a gap on the CME futures chart at around 11.8k or soo so I'm still holding out a slight bit of hope that we can see a big bounce here.
BITFINEX:BTCUSD
by DrDovetail
2
BTCUSD 1D - Expected Bear Trap/Pinbar into 1D 200EMA/Monthly S1COINBASE:BTCUSD Price on the 1D chart is now just below 20EMA and 55EMA, also at the top of the triangle and mid-point of the channel, this suggests a move lower. Expecting a pinbar or bear trap into the zone that is between the monthly S1, the 200EMA and the lower part of the channel between 9000 and 8700. This would then be followed to move to the upside. Not playing this move, waiting for the pattern to play out and direction to be confirmed on the 1 day chart, will then look for the next setup.
COINBASE:BTCUSD
by Maverick45
Altcoin market attempting a simultaneous h&s/deathcross fakeoutLooking here on the total2 1day chart(which excludes bitcoin) we can see the altcoin market has recently had a deathcross and has been sending wicks down below the neckline of a sizeable h&s pattern...yet today the Altcoin market finally got a bounce....it appears maybe one of those situations where it's always darkest just before the dawn and that as long as the alts can close above the 1 day 50ma and hold it as solidified support that not only will we confirm the H&S to be a beartrap fakeout but the deathcross as well should then flip back over soon after into a true golden cross and hopefully finally kickstart the altcoin bullmarket. If we look back at what finally kickstarted the 2015-2017 bitcoin bullmarket we can see it too back then had a 1 day goldencross that soon after did a brief deathcross and it wasn't until that then flipped back into a goldencross that the bitcoin bull market finally began. I think we will see something very similar to that this time for the alts. So is the long awaited altseason finally right around the corner for Q4? very very possible...but only if they can maintain solidified support above the 1 day 50ma first. Baby steps altcoins...babysteps.
CRYPTOCAP:TOTAL2
by DrDovetail
BTC breaking up from falling wedge. Target: 10.6-10.8kA great sign as it appears BTC is finally breaking up from it's falling wedge. It appears the biggest of the potential falling wedges(the dotted purple one) may be the most valid...in which case the projected break out target is around 10.6-10.8k. This should allow us to break up from the 1 day charts green bull pennant too at the very last minute which should lead to additional upside...I anticipate this will take us up to the neckline of the inverse head and shoulder pattern we've been watching for some time now.
COINBASE:BTCUSDLong
by DrDovetail
Diamond bottom target hit. 10600 horizontal current support.I anticipate this is only the beginning of the dip but we may see a brief relief bounce from here before continuing to the downside. We have hi our diamond top drop target but we can see we appear to be doing a bart breakdown from the day bullflag and considering how long its pole was we can actually breakdown all the way to 8.8k I'm not saying we will go that far down and I'm no saying we couldn't go even a little further and hit that 8.5 gap. both are quite possible. I however am probably gonna try to play it more conservatively and ladder buy back a small amount here/close out small percentages of shorts then maybe wait until the yellow horizontal around 9464 to ladder in more aS well as laddering in amounts at any significantt MAs or golden fib lines as we run into them. as log as we close consecutive 1 day candles under the 1 day 50ma(aka buy/sell line) we are in a seller's market bu hopefully it's somewhat short lived. I anticipate the correction to be over hopefully by the begin of september or at least the 1st half of September. We need to keep a close eye on the 1 day 150 ma to ensure it maintains support to ensure we stay in the bull market.
COINBASE:BTCUSDShort
by DrDovetail
2
4 big bullish patterns about to breakout rube goldberg style?the way all these bullish patterns( from various time frames) are currently clustered together if one triggers it will probably set off a chain reaction that triggers them all. . .there's a 5th pattern that it could lead to i triggering too on the weekly chart. A weekly cup and handle that's harder to identify on this chart unless you zoom it out and/or switch to the weekly time frame. It's hard not to be bullish looking at all of this but currently we still don't yet have confirmation so I must be poised for any potential fakeouts even though probability favors a bullish breakout. patterns shown here is the 3hr chart purple diamond/symmetrical triangle pattern. The Green 1 day bull flag and the much larger 1 day chart yellow symmetrical triangle the 1 day pink and blue adam and eve double bottom and then the pink and white weekly cup and handle which needs zoomed out to see fully.
COINBASE:BTCUSDLong
by DrDovetail
1
1day chart pattern beginning to take shape: Falling Wedge?We have finally reached a 31% correction here when we dipped into the upper 9k region...odds are good the 1hr/4hr chart h&s pattern is really a decoy at this point as a 1 day chart falling wedge is starting to take shape more and more as the candles progress and is starting to seem more valid. We have also filled the highest gap on the cme futures contracts on the last correction leaving only the gap at 8.5k left to be filled. There is a slight chance this gap won't be filled but we could also easily throw a daily candle bottom wick down to it briefly and then slingshot back up and still manage to keep the daily candle bodies above the bottom trendline of the 1day wedge. I'll be keeping a close eye on the 4hr and 6hr charts to see if we have a turn back to the downside on them before forming a higher high on those time frames...if we do form a lower high on the 4&6 hr charts then odds of dipping down to fill that gap are still very good however if we form a higher high on either of those 2 time frames probability will then favor that are big correction may be complete and the bullrun is likely to resume. Still no guarantee that this falling wedge is the main pattern here on this move but as of now it is the frontrunner.
BITSTAMP:BTCUSD
by DrDovetail
1