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Techincal

EURAUD Wave Analysis Hello traders! From the perspective of Elliott Wave we are now in final Wave 5 of the Primary Wave 3. The Primary Wave 3 could finish it's rally at the 1.66213 according to the Fibonacci extension at 1.618 region. This price resistance is also the resistance formed at 12 August 2019, so we have 2 confluent reasons so far to believe that the market will shift into a bearish short term trend from this area, continuing the Elliott Wave pattern to start the Wave 4. The 3rd reason is that the RSI is in a very dangerous overbought region of 84.5 on a 8 hour time-frame at the time of writing this and 76.57 on a Daily time-frame. The 4th reason why I believe that the market will start to drop from that level is because on Tuesday 4th of February 2020 we expect a interest cut rate from the Reserve Bank of Australia which could imply the Australian Dollar to become stronger. Reserve Bank of Australia board members come to a consensus on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation, so we expect it to be 0.75%. More interest rates cuts are expected in the future of 2020. Always make your own analysis before entering a trade and do not follow blindly everyone who posts ideas or provide signals. I wish you all a great day!
Short
by monssonalma
BTCUSD Inception day 14-1-2020, not convinced yet...Greetings fellow traders, As time goes by, the markets evolve... If your way of TA is strong, then the path will lead its way... More visible, more probable: Dashed lines; Possible forming patterns Solid lines; Confirmed patterns / Support or Resistance Dotted lines; Possible price-action trajectories / wave trend Lighten colors = Support | Darken colors = Resistance ' I’m trying to free your mind, Neo. But I can only show you the door. You’re the one that has to walk through it. ' ~ Morpheus, The Matrix ~ With that having quoted, this is my way of keeping order in the chaos. I call it, "Pattern Formation Level(PFL)": Alpha > Beta > Delta > Echo > Gamma > Theta Explanation PFL: This is an additional stage of usage of the pattern formations. Some level of experience in pattern formations is required. You can also ignore this part and head straight to 'Today's Note', just read the patterns between the brackets. Alpha; ST / Bullish Pennant pattern formation, a.k.a. "The End Game", a.k.a. "The Big Long". (Daily and higher time-frames) Beta; Most recent relevant and biggest forming pattern within The Alpha forming pattern. FW / DC. (4-24 hour time-frames) Delta; Most recent relevant forming patterns within The Beta pattern. (4-8 hour time-frames) Echo; Most recent relevant forming patterns within The Delta pattern. (1-4 hour time-frames) Gamma; You get the picture... (10-60 min. time-frames) Theta; Do not thread these treacherous waters. At least for master level TA skills or higher. (10 min. and lower time-frames) Eventually the PFL's are all connected. Gamma patterns combines into Echo pattern and Echo patterns combines into Delta patterns etc. Until the Alpha patterns has been formed. I'm not calling it just the Alpha for dominance in size. For as this pattern, is, the Alpha and Omega. Which will end current market cycles and start anew. From time to time, I might thread the secret level when I'm feeling gutsy. Additional advantage of the PFL system is, when you have to determine whether a certain pattern will have its usual breakout direction. By inserting pattern formations in the PFL as parameter. This makes it easier keeping track of which pattern formations are relevant to the current TA and entry or exit strategies. It might be hard to learn, but it is certainly easy to master. As a programmer and I like playing chess, as result to my TA. I like to look ahead as far as possible. This is only doable, if you have reasonable reliable trends to follow. In time, as I gain experience in the markets. My TA skills evolves and in parallel my systems and indicators. ------------------------------------- Current Alpha patterns: The End Game: Symmetrical Triangle 1st confirmations support & resistance establish, still in progress. Current Beta patterns: Descending Channel or Falling Wedge, currently breaking out but not yet confirmed Current Delta patterns: Ascending Broadening Wedge, 1st confirmations of support & resistance established, still in progress. Currently retesting resistance of the Delta(ABW) formation and also the 0.5 fib retrace. But might break through the upside and follow the break out of the greater (Beta) pattern. Current Echo patterns: Rising Wedge still in progress, heading towards 2nd confirmation of resistance. Current Gamma patterns: Symmetrical Triangle, broke out Current Theta patterns: This level is currently too dangerous to trade. Greater patterns might break out or follow its trajectory. Today's Note: Honestly, it's looking bullish. But I'm not convinced yet. Btc still has some obstacles to conquer. The 0.5 retrace. and breaking through the resistance of the Delta(ABW) but also the Echo(RW) patterns. These are lesser patterns, but 3 vs 1. That's quite a challenge. EMI 1 & 2 are becoming quite bearish. I might setup a low risk/reward short position from here. But going to wait for more concrete bear or bullish signs. However it is quite certain that something has to give very soon. To be concluded... Current Targets: Exit short position / Entry long position target: ---- region Tip's/FYI: People = Psychology > Patterns > Indicators > Fundamentals. Nonetheless, all is crucial. Psychology? When you observe a chart. Ask yourself who's the most in pain? Bears or Bulls? Watch & learn from experienced traders and discover your style of TA. Hence develop this, imitating will only get you as far. The most accurate trend indicator when using logarithmic, are the; Relative-, Exponential-, Weighted-, Simple- and regular Moving Averages. At least use Heikin Ashi candles if you don't like MA's and vice versa or using both might be even better. The algorithms of these indicators adepts to logarithmic variables visually. Linear tools and pattern formations obviously do not for that matter. Since it doesn't concern logarithmic variables. The trend is your friend! Pattern Formations is the most accurate method, when it comes to observing the behavior of buyers and sellers. If you don't understand this, don't be lazy and google. Learn this as basics, pattern formations are ideal to combine with other methods. ------------------------------------- Epilogue: Hopefully in time and it would be my honor, when other analyst implement at least some of my systems, methods and techniques into their TA. Henceforth bringing their TA skills & abilities to the next level. I have taken a lot of information from this community. However I believe. When you take, you should also share. After all, knowledge and experience are the most valuable things in life. This is why I share my daily TA. Hopefully other will learn from it, but never use someone else's TA. Always do your own do diligence before even considering trading. If you don't want to miss out on any of my daily technical analysis. Then click or tap on follow and don't forget to smash on that like button ^^, thanks in advance. If you're worthy I'll follow you back! In case you're wondering which indicator I'm using. She's called EMI , short for 'Epic Market Indicator' and she's a collection of diverse indicators. How to use, is in the description. You can use them like any other indicators. Search for 'epic market indicator' then add. I have recently published the latest versions. EMI 1 v3.0 & EMI 2 v2.0. Like any other instrument, practice makes perfect. If you have any input for EMI or questions about my way of TA(*Asian sound-effects*). Please leave a comment or DM me and I'll try to respond a.s.a.p. Be careful and good luck fellow traders, may the trend gods be with you!
COINBASE:BTCUSD
by bonic
LTCUSD Technical Analysis 4 hour - Wait for confirmation to buyHello there! Still waiting for confirmation to buy. It appears that the massive selling slowed down. However we did hit a pretty low price ($39.41) earlier today, but rebounded from that. However you might as well consider this as lateral price action since the low prices and rebounds are a consequence of momentum. We could see a period of slow movement. That is ok. As long as this thing keeps going up and down, we can make money. Renko chart is starting to show some green...although not that much. Renko is not showing new red bricks either so as I said, price action is lateral. Renko brick size is 0.74 Parabolic SAR is also showing a small trend up. Good. I currently have an alarm setup to go off whenever price crosses $43.99. This is basically a brick and a half up from the current reko brick possibly signaling a reversal. My stop loss is currently at 44.75. As you can see this is also above the EMA 12. The plan is to look at indicators when prices approach 43.99 and make a decision whether the stop loss should be kept to eventually enter a trade or be removed. Again, we are looking for the Awesome Indicator to be approaching 0, if not already crossing 0 on the way up. We are also looking at the EMA12 and EMA26 running parallel or closing in to each other. Current RSI is in oversold conditions (28.12) although it could still drop even further. Keep an eye here. Stochastic is rising which is a good indication of price action starting to move up. You can obviously also see this in the candle chart. I will make my decision to enter the trade as price rise a little more. Remember we don't care to buy at the lowest point and sell at the highest point. We care to buy low and sell high! We also don't care to accumulate LTC. We want USD. If we enter a trade based on what is described above the potential exit objectives with an entry point of $44.75 would be: $47.11 - This is the middle of the band. Yield: +5.27% $48.54 - First Fib retractment after mid band. Yield: +8.46% $49.32 - Next Fib retractment after mid band. Yield: +10.21% Price usually stays above the EMA 12 when it is going up. So we will ride the EMA 12 using a sliding stop loss. Once price goes above objective prices, we will set the stop loss to those prices guaranteeing a profit. Remember: Be patient with your winning trades and very impatient with losing ones (i.e. cut your loses short and let your wins ride the trend for as long as you can!) Take a look at the charts and do your own analysis. I found this is the best way to trade. If you like this, you can donate your LTC to: LZKza6vBcBnkfaDMHYXXUd6ud8Jf87Lfm3 Any donations will help me keep posting analysis. ***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.**
COINBASE:LTCUSD
by mariobenitez1618