ChasingTheMarket

ChasingTheMarket

Market within a range right now, albeit also within a downward channel with two potential top side trend lines. If those fail, consider the blue trend line as a stopping point in the event of a bullish trend reversal. The idea is to short when market reaches the Top of the Channel or the Moving Average with a TP at the support range @1.345 Good Luck

ChasingTheMarket

Hello Traders, This one is self explanatory.. Time your entry on the 15m TimeFrame and set you SL slightly below the first support level. Good luck

ChasingTheMarket

Update to my analysis on this week's EURUSD trading guide. As expected, we're back in the Channel (Take a look at previous post on 4HR for Perspective). Expecting a straight fall down to 1.1940, and then a pull back and continuation to the bottom of the channel.

ChasingTheMarket

The next resistante level is @ 1.21500 . Those levels date back from the fall in 2015 and 2012. The Green Ascending Trendline from the wedge is a must hit retest. Afterwards, two scenarios are drawable: a) BLUE - Climb either to this week's high, or to the 1.21500 levels (wither with retest of the channel line, or straigh breakout). Note how low the RSI levels...

ChasingTheMarket

Lots to work with on BTC right now on the 4hr. Measured move on the Head and Shoulders sets a target for close to 19k. Two strong resistance barriers right above current market value... need to beak past that to be able to focus on a higher target. On the other hand, price action is strong within an upwards channel and the High RSI levels and lagging Moving...

ChasingTheMarket

On the 1hr TF BTC just finished a Full Impulse cycle (5 WAVE DOWN) and a Full Retracement cycle (3 WAVE UP). A retest of the upward channel is imminent, which should coincide with the support bands drawn. The pullback to the MA and subsequent pull is also a strong indication that this will happen. Only if the Market crosses above the MA can we think about another...

ChasingTheMarket

If this were to pan out... how low would it send BTC past the neckline?! 6000? What would that mean for Cryptocurrencies? Again, we're bullish on BTC, yet are not discarding this idea if price revisist the lower support levels.

ChasingTheMarket

This one is pretty self explanatory. The speed of the fall on OCT 24th hints that the market is going back to those very same levels. The RSI is hinting at a minor pullback, perhaps to the Mov Avg before resuming the climb. The significant price action to be looking at is the highlighted range... It serving as support is a strong confirmation of the...

ChasingTheMarket

Market beginning to break above resistance level that has been consolidating for the last couple of days, although there is a strong level at 0.70530 . If that resistance level clears then we are looking for a sure push up to the beginning of October 20ths move down and even higher up to 0.72 (more aggressive target). IMPORTANT: Notice how the biggest moves on...

ChasingTheMarket

Simple analysis on this pair. We're looking at a triangle on a short time Frame, yet are not going to let it distract us. This trade is simple. WAIT, for the market to hit the major support band to get in Long. In the even the low volume transforms into big volatility and we breakout of the Red Descending Trend line, wait for a pullback to the Mov Avg and Get...

ChasingTheMarket

Exact same chart and train of though as the analysis one posted a couple of days ago. We hope you followed our forecast. Albeit being bullish at the time we advised we were not tunnel visioned and would undoubtedly turn (short term )bearish if the market were to breakout of the channel and below the 15000s level. Not only did it pullback to the identified...

ChasingTheMarket

Not the best currency pair to be getting involved with at the moment. There is a lot of possible scenarios developing and no clear direction. Not only are we within a range, but also in the middle of Channels, which is not an ideal entry point. Identified are: 1) Ascending Wedge Pattern; 2) Channel #1; Channel #2; At the time of this post, on a slow post xMas...

ChasingTheMarket

Hello Traders, Let's start off by making one thing clear: When in doubt DON'T SHORT BTC. You better be sure. It's been a while since we've gotten under the Moving Average. It held off well after the first retest. The candle shaping is indicating that a second retest is iminent at the 17000 level. The market is trading a range in between 15500 and 17300. Below,...

ChasingTheMarket

Hi Traders, Wasn't able to post this as quickly as I wanted to. After a 100 point straight fall upon open we always see the same thing: Back to the top we go. What happens when we get there? The question remains, how will markets react... we're slightly over 100 points away from the psychological number that is 25.000, but there's also a HUGE gap that needs to be...

ChasingTheMarket

Hello Traders, the key area to look for is 1269 / 1270. The overbought RSI is hinting that that resistance level will hold the market and send it back down to the bottom of the Channel that it has yet to retouch, most likely haulting at the identified support band. Attention though, this is short term. The target is 1275. The safest trade would be to wait for the...

ChasingTheMarket Updated 

Following today's USA Tax Reform euphoria and the fulfilment of the Head and Shoulders Pattern, the currency pair is giving us a safe trade to short to the beginning yesterday's momentum spike. The 1.27 and 1.618 Fib Extension set out the standard targets for HS Patterns. ATM, they are coinciding with recent strong resistance levels which give good comfort for...