ETHUSD: 4 week waiting game

ETHUSD: 4 week waiting game

Ethereum / Dollar BITFINEX:ETHUSD


Ethereum             fails to benefit from Bitcoin’s rally. As to what this indicates, I have no idea. It could be investor uncertainty and doubt. Perhaps money is waiting for Bitcoin             to pause for breath at a higher level, before it can be re-invested in more speculative cryptos.

The trendlines for ETHUSD             are easy. We are awaiting a breakout of a 6 week consolidation, of which we have 4 weeks left before a break is inevitable. Below, a drop to trendline support. Above, a break to resistance that has held price twice before.

Obviously, the happier scenario is a break UP. Which is my bet (I’m long). If we begin to break the lower trendline with conviction, I will exit and happily re-enter at a better price.

GOLD: THE PENULTIMATE ACT

GOLD: THE PENULTIMATE ACT

GOLD / U.S. DOLLAR FX_IDC:XAUUSD


Gold             is breaking the final frontier of a multi-year pennant . It is now nestled below trendline resistance and the weekly 200MA.

Could this just be a false move?

Unfortunately for the Gold             bulls, Gold             has to contend with a a very bullish USD. Unless the USD is going to make a move to the downside, I cannot see Gold             making ANY serious upside traction.

And my conclusion?

Projecting a MEASURED MOVE – that is, the top of the 2016 range to the low corner of the pennant – the current trendline break takes us to……..

$900

Yes. That’s right. I’m short Gold             until it reaches 900. I believe we’re about to see the slaughter of the last die-hard bulls, and for Gold             to enter stale long liquidation.

I’m short, and will add on ANY significant rallies below 1280.

But…. I have titled this chart The Penultimate Act. You’ll notice I have some green marked on the chart. $900 will be the low to BUY…

There is an opportunity to buy in IOTAETH

There is an opportunity to buy in IOTAETH

IOTA / Ethereum BINANCE:IOTAETH


Technical analysis:
. IOTA/ETHEREUM is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 46.
. While the RSI and the price downtrend in the Daily chart are not broken, bearish wave in price would continue.

Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.00206 to 0.00175). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Beginning of entry zone (0.00206)
Ending of entry zone (0.00175)

Entry signal:
Signal to enter the market occurs when the price comes to “Buy zone” then forms one of the reversal patterns, whether “Bullish Engulfing”, “Hammer” or “Valley” in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about “Entry signal” and the special version of our “Price Action” strategy FOLLOW our lessons:

Take Profits:
TP1= @ 0.00230
TP2= @ 0.00245
TP3= @ 0.00280
TP4= @ 0.00340
TP5= @ 0.00430
TP6= @ 0.00570
TP7= @ 0.00740
TP8= @ 0.01340
TP9= Free

EURUSD: Pending Short

EURUSD: Pending Short


EURUSD             has been churning for 2 months. The triangle consolidation will break. My bet (I’m short) is that it will beak down.

I’m not expecting a clean break, as we are nestling above 2015-2016 resistance-turned-support and the weekly 200MA. This might produce a choppy environment. However, once these supports give way, I would expect a swift move to the lower 1.03-1.07 area.

I’m short and have been playing the range for the last 2 months for pocket money. Payday in EURUSD             soon.

Only a move above 2018 high would shift me neutral at this point.

Dow Jones: WARNING PART II

Dow Jones: WARNING PART II

US Wall St 30 OANDA:US30USD


In my previous post, I was short the DJIA             , with the expectation of adding at down trending resistance. I did add, but was quickly stopped out.

Now price has broken ABOVE the resistance line, and I’m forced into a neutral position. This means I have no conviction either way, and any trades I take will be 1/3 of my full size.

I do not want to be one of these traders who perpetually tries to short US equities – which is exactly what has fueled the most hated rally in history. Yet, I maintain that this could be a FALSE BREAKOUT, and that significant downside remains a possibility. For that to happen, price would need to quickly reverse, fall back under the top side of the multi-month triangle, and stay below there.

Another possibility is that we see a choppy consolidation at these levels over the next few months, before simply rocketing higher. For the bullish case to be confirmed, I would still need to see a closing above the 25800 level to indicate strength.

For now I’m neutral, with a slight bearish leaning. My bearishness is colored by the action in S&P             and the Nasdaq – updates coming soon.

I will take a small short position on a Monday rally, with a stop above last week’s high. If price moves higher next week, I will wait for a clear pattern to emerge before acting.

A trading opportunity to buy in AEETH

A trading opportunity to buy in AEETH

Aeternity / Ethereum BINANCE:AEETH


Technical analysis:
. AETERNITY/ETHEREUM is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 49.

Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.00402 to 0.00356). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Beginning of entry zone (0.00402)
Ending of entry zone (0.00356)

Entry signal:
Signal to enter the market occurs when the price comes to “Buy zone” then forms one of the reversal patterns, whether “Bullish Engulfing”, “Hammer” or “Valley” in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about “Entry signal” and the special version of our “Price Action” strategy FOLLOW our lessons:

Take Profits:
TP1= @ 0.00460
TP2= @ 0.00481
TP3= @ 0.00516
TP4= @ 0.00615
TP5= @ 0.00738
TP6= @ 0.00868
TP7= Free