Gap fill for bitcoin BTCUSDBitcoin price looks like it will fill the previous gap down in the next few hours.
Gapdown
FACEBOOK BUY OPPORTUNITYFB GAP DOWN IS A HUGE BUY OPPORTUNITY
Facebook's earnings report a week ago upset investors and the stock fell more than 15% forming a huge gap.
Now stock is trading with P/E ratio of ~20 which I believe is very low for tech stock such as FB. Twitter has a P/E of 3X that of fb. Solely P/E is definitely not a good way to analyse any stock, however my analysis tells me that facebook still has huge potential and it is not to be traded at such low levels. FB has potential to generate cash and Zuck is definitely not a man who wouldn't want to use that opportunity.
Anyway, I think this is one of these Jamie and Charlie opportunities, Here is my strategy:
SELL SEP 13 195 PUTS
I will be shorting puts because I believe that the recovery will be steady and may take time. Selling puts is risky because if the stock drops you can lose way more than you have invested. However, Because I believe that there will be a steady comeback, selling puts is better because options are cheaper every single day due to THETA, which means that calls will be cheaper every day, therefore selling puts with high theta will be profitable even if the stock stays at the same levels.
Closing Gap? - BTC and altcoins, down.After this anomalous weekend, i'm still short, no resistance has been closed on.
We wait and see the next few months.
Happy HOLD :-)
Gaps HantersGood Morning Traders
In this Chart we will only look for gaps.
The Gap Rule - Market tends to close open gap.
Look @ Gap 1. Perfect Fill.
Drive Safe.
V3:T2_S&P Gap DOWN post market_Fill The Gap Long!!!Short and Sweet. This gap is probably going to fill.
+1 long 2690
Stop 2663.00
T1 - 2617
T2 - 2730
If you ride this trade out longer than this you are betting we will get through our directional pivot and that I cannot be sure of. But this gap is most likly going to fill. The context is way off. Goodluck!
If you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated!
Disclaimer: Your data may be different. |V1-T1 = Volume 1-Trade 1| Material is educational only. Trade at your own risk!
SPX: Flashing cautionary signals (again).My cautious call of 2 weeks ago may have been premature (see link below).
However, we are now seeing additional cautionary signals on the SPX :
1. Two consecutive down days at the beginning of this week;
2. Visible break yesterday on the index (gap down);
3. Reasonable volume on the downside;
4. Traded and closed below SMA10;
5. Tech indicators turning (MACD, RSI, Stock);
6. RSI coming from very overbought levels >85;
7. Treasury yields picking up;
8. Some divergence/topping signs from tech market leaders;
9. High-volume surge in the VIX (please see chart below);
10. VIX broke/closed above two resistance levels in a day.
Current earnings should bring further steam to this market, either for a highly-expected consolidation or for a rebound.
In this context, am warming up to buying downside exposure in one -or multiple- of the following ways:
1. Reducing portfolio risk by taking selective profits/losses;
2. Buying puts on selected stocks ahead of earnings;
3. Shorting the market outright (SPY, QQQ);
4. Buying volatility outright (VXX).
The rest of this week should be interesting and followed closely.
Trading the gapA bit of a gamble to be honest, but there's enough evidence from this year to support a gap down this weekend. I labeled all the previous gaps this year and why I think they happened. I've put a very small position on a short gap down since I believe our support from this week's trend down is around 112.450.
If it pays off, I'm closing it as soon as market opens because I believe we are very close to a rebound on a longer term up trend for the US dollar.
On the other hand, if we see a gap up, it would be a strong signal of the down trend finding a a bottom, I'd wait to see if it closes the gap and close position, while at the same time I would look for a long entry.
USDJPY Long"Trade What You See"
I see an unfilled gap, and it worked out for me last week.
Long at bounce from support to fill gap.
USDJPY Bullish for 100+ pips to Close GapAfter half the opening day of weak USD and somewhat strong JPY, this pair fell to the support.
Now it's time to buy, as can be seen by the lower wick of the bullish candle.
Mainly, it should go up to fill the gap, as markets do in about 95% of cases - sooner or later.
AUDJPY Short at Major Resistance & Broken TLInteresting setup here, and it supports several other setups that I've just published as well.
On this chart, is an approximate support trendline drawn from last week. Now, when this week opened, AJ gapped down, but was able to fill the gap before the 4h candle closed.
With the following observations:
1. The gap filled, so no need to worry about that anymore,
2. Price is below the trendline, closing on the 4h candle as I type this,
3. The upper shadow of the 4h candle is longer than the body, indicating bearish pressure.
Now, If we assume AUD weakness against JPY based on this chart, and in my previous post; against USD, put together with my "buy" position on EURAUD since it has reached a well-tested support, I can safely conclude that AUD is weak for the foreseeable future.
That leads to sell signals on many AUDxxx pairs, and buy signals on xxxAUD pairs.
EURCAD Bullish PredictionSo far, EC has followed my prediction by going down to the area of the support TL.
However, you can also notice how the gap down was not filled when markets opened this week. This supports my prediction of a bounce off the TL and a short term bull movement to at least the previous week's close, if not to the resistance zone around 1.5000
All I need now is a relatively strong bullish candle that bounces price off the TL and up 200 pips or so.
Deutsche Bank failed to reach deal with DojWe saw rumors of a deal that will be conclued between DB and the Doj september 30rd, pumping DB hard, bloomberg revealed it's false.
Prepare to short at the opening, and anticipate a gap down.
Target 9.89, can go deeper.
AUDUSD short AUDUSD gaped below hourly support visible on 15 min chart, Daily bias bearish so I would bet for short here also.
Target 3R units minimum.
SPX - Will the Fed decision lead to a breakdown in SPXThe SPX after a gap down has been consolidating in a small range and any upmove in the index is witnessing selling pressure. 2115 - 2110 are the important support levels to watch a break below these support levels would lead to a faster sell off in the index and a retest of 1820 level would not be ruled out.
Dr REDDY - ALL SET TO FILL GAP (BUY)There was a gap down observed on daily chart which is been not filled up for a long time. Now the price action breaks out from a rectangular consolidation and shall reach out to 3280 levels in order to fill up that GAP.
Target: 3280
Stoploss: 3070
Watch Support to Hold The PositionSupport is quite far so we will expect another round of 3rd gap down due to upcoming good news in US.....
NZDUSD Possible Wave-countDespite its choppiness since the start of this year, the NZDUSD pair has traced out what may be considered to be a respectable impulse wave.
By this count, wave 2 and wave 4 held at their respective 61.8% retracements of wave 1 and 3, and wave 5 is an ending diagonal whose subwave ii retraced a bit more sharply than normal. Additional reasons to believe that the impulse wave has ended are the tweezer top formation just shy of the psychologically significant round number 0.7000 reinforced by a spike in volume.
If this count is correct, we are currently in a corrective wave down. Trading this wave is doubly safe because the larger macro trend is down, despite the upward momentum since the start of the year. Furthermore, even if we are in the start of a new uptrend, we might expect a sharp correction in the ensuing second wave.
Bearing in mind that ending diagonals often retrace swiftly to their point of origin, the safest way to trade the NZDUSD in the near future would be to buy the breakdown of the lower ascending trendline.
A more conservative approach would be to wait for the likely pullback in wave B since A is the third touch of the trendline, and short anywhere in the entry zone between 0.6885 and 0.6965.
The hard stop should be just above 0.7000. Take profit is at the bottom of wave 5 around 0.6500.
A key price level to take note of is 0.6755, which is the top of wave 3 as well as the possible base of corrective wave A. Consider scaling out and locking in profits in this region.
A possible scenario for this wave-count being incorrect is if wave 4 completes at the point currently marked subwave ii. If so, we are in the final subwave of an ending diagonal, in which case a violent reversal is to be expected at 0.7000. Either way, a sufficiently well placed stop just above 0.7000 should not be hit.
Best of luck!
Double Bat on NZDUSD daily chartThe complex correction of the NZD/USD pair has (finally) resolved to complete a Bat pattern that it had been struggling towards since early Feb. While not the cleanest of Bat patterns, there are several good reasons to trade this setup.
1) Harmonics: 2 consecutive Bat patterns are now discernible on the daily chart. The first Bat is slightly imperfect because its D leg completed at 96.4 instead of 88.6. However, the internal retracements are sound, and the D leg did not strictly exceed point X. The internal retracements of the second Bat are almost perfect, the extended whipsawing in the CD leg notwithstanding.
2) Elliott Wave: Point D of the second Bat is also the termination point of wave 5 of an impulse wave. As such, price should now retrace at least 38.2% to 61.8%.
3) Candlesticks: The first candle after Point D of the second Bat gapped down, and closed at the 78.6 level of the XA leg of the first Bat. The next candle engulfed it, and had almost no wicks. These factors suggest strong downward momentum.
While it is possible to enter on a market order now, a safe entry would be on a close below the daily resistance-become-support line at 0.67192, which is also the 61.8 level of the XA leg of the first Bat. The safest entry would be after a breakdown and retest of this level.
Profit may be taken around 0.64294, a daily support zone, although scaling out of the trade at the 61.8 level of the second Bat at 0.65281 is advised, given its confluence with the 23.6 level of the first Bat.
This is a high probability set up, and allows a stop loss to be placed above the D leg of the second Bat at 0.68189, instead of the more traditional 100% level at point X. In other words, Elliott Wave and candlestick analyses of the harmonic pattern allows for a more precise level to be used; if price goes above this level, it would greatly reduce the confidence in this setup, and the position should be exited before further unnecessary losses.
Risk-to-reward ratio is just shy of 4:1.
All the best!
GAP_UP_PLOTTINGIdentify the GAP up and GAP DOWN opening and plot the line.
Strategy when GAPUP identified Buy and target for few 100pips.
1.Color automated Lime candle shows one ahead candle of gapup
2.Black candle shows gapdown.
3.Line drawn for GapUp,GapDown
S&P500 Inverse Head & Shoulders Pattern This is easier seen on the 5min chart. The S&P 500 has put in an Inverse Head & Shoulders Pattern. This is a reversal pattern. Look to buy the Neckline or the Breakout (shown on chart). Look for Targets around Gap fill.
RL breaks down below previous supportEarlier this month RL broke down below recent support and beyond the consolidation zone where price has been trading since mid-2013. The downtrend began to develop a few days after the earnings announcement on 4th February.
Throughout the majority of February price has been trading between the lows of 2014 and 2012 - with 2012 acting as support and 2014 as resistance. On Friday price broke below the 2012 pivot, with a very bearish bar, and the weakness looks likely to continue.
With the next major support zone at around $105 there is some room for price to continue to fall. There may be a retest of the 2012 pivot and, on the weekly chart, the 50ma is still above the 200ma (we would ideally like to see the weekly 50ma cross below the 200ma to give us an additional reason to short this stock).
RL is trading against the markets in general and, if entering this trade, it would be a longer-term sell (to give the bear trend time to develop). With over $25 to the next support level this could be a good opportunity for those who are happy to short stocks at this time.
YELP breakdown but can it fill the gap?Initially, when I saw the gap down on YELP, I thought this stock looked good to short for a near-term gain. I usually concentrate on the weekly and daily timeframes and, with the gap down breaking through previous support, the $50 half figure and with higher volume, this looked like a great shorting opportunity - as there appeared to be no further support for some time.
But a quick glance at the monthly chart showed a gap up in 2013 - at the same level YELP is trading right now. If this is an island reversal pattern then we should continue to see price fall - as analysis from the daily timeframe suggests.
But, as I was considering YELP as a near-term opportunity, price could drop too fast - possibly gapping down again past the lower value of the 2013 gap up ($42.84). This means I may not get a position filled at the price I want.
The safer option here is to wait for price to trade below $42.84. If this is indeed a reversal island then price should continue its bearish move down beyond this point.
