hedgewithcrypto

hedgewithcrypto

The total cryptocurrency market cap is consolidating in a small band. Could break either way really. I expect to the downside into a support level then a rally higher to test the range high where it could bounce for a few weeks then break out to the upside. This would be bullish for Bitcoin and a number of major altcoins such as ETH and XRP.

hedgewithcrypto

The price of Bitcoin has recovered somewhat after the sell off from $10,800. It has found support around $9,860 and formed a nice rounded bottom. The SFP candle was my entry (cyan candle) and have been managing this trade. Stops have been moved to the red line. Expecting a reaction off the green zone to continue the bullish momentum. A breach of this and close...

hedgewithcrypto

GBPNZD has triggered a head and shoulders pattern. In addition, price has just broken through a horizontal rectangle for a continuation trade. Clear structure to place stops above. Target shown at the 1.89 area. Please give this trade idea a THUMBS UP and I will keep you updated! Disclaimer: This is only my opinion, make of it what you wish. It is not...

hedgewithcrypto Updated 

Hi All, I've still been trading the long term chart on traditional markets while the crypto-currencies are doing a whole lot of nothing! On the GBPJPY, we can see a inverted head and shoulders pattern forming on the DAILY chart. Not that I follow the fundamental news, but any BREXIT news could act as the catalyst that triggers the pattern with a breakout. I...

hedgewithcrypto Updated 

As mentioned in the previous trade idea, the Euro is looking weak across all pairs. I'll be waiting for the neckline to break before getting into a trade. Flat necklines do not perform as well, but nevertheless will still take the trade. Should the neckline break, I intend to hold this as a long term trade. Partial profit can be taken at 1.138. Keep it simple....

hedgewithcrypto Updated 

If we zoom out and take a look at the longer term time frames, most of the Euro pairs are setting up with potential head and shoulders pattern. One example is the EURGBP. The peak of the right shoulder may have just formed so will be keeping an eye out for the break of the neckline. Please give this trade idea a THUMBS UP and I will keep you updated! ...

hedgewithcrypto Updated 

Spotted a tight flag pattern on Bitcoin Cash with good strong volume. This is one of my favorite chart patterns. High probability of reaching target shown in GREEN only IF/WHEN it break the top of the pole, otherwise no trade. Waiting for a trigger above the pole to enter into a LONG position. Using a STOP-LIMIT order is the best method. Please give this...

hedgewithcrypto Updated 

Spotted a tight flag pattern on EOSBTC today. Waiting for a trigger above the pole to enter into a LONG position. Using a STOP-LIMIT order is the best method. Please give this trade idea a THUMBS UP and I will keep you updated! Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.

hedgewithcrypto Updated 

Further to the previous head and shoulders top pattern which met target, the DXY is setting up for a larger downside pattern. I posted the chart pattern in the link below (refer comments section) just as the neckline broke out. Sloping necklines perform really well, so expecting a nice drop. This really does spell trouble for the US Dollar and could be a major...

hedgewithcrypto Updated 

Hi All, I don't usually post setups like this on smaller time frames. But I wanted to show an example of a flag pattern that I would typically take a trade on. We can see on Bitcoin a strong impulse move up which forms the pole and tight consolidation occurring within a range to possibly complete the flag. An entry is confirm on a break of the pole. If you are...

hedgewithcrypto Updated 

Head and shoulders pattern has trigger on DXY. What does this mean for cryptocurrency? One possibility is that we are about to see USD flow back to Bitcoin. Could this be the reason for the resurgence in Bitcoin prices today? In a buy position on a number of USD crosses. Trade safe. Please give this trade idea a THUMBS UP and I will keep you updated! ...

hedgewithcrypto Updated 

There has been talk about the Lira and Rand losing a lot of value against the USD off the back of Trumps trade wars and strengthening Dollar. But don't forget the Euro too which might be next to capitulate. Of course, I'm not a fundamental trader or expect by any means so will rely on technical analysis. Looking at the chart, I believe the EURUSD has just...

hedgewithcrypto Updated 

Trading the alts against BTC has been quite straight forward the last few days. Bearish patterns have been playing out very well. We can see on the chart LTCBTC has broken out of a rising channel. This is a sign of weakness, which was a more probable outcome given the grinding nature of price (circled area). On the smaller time frames, there was even a head &...

hedgewithcrypto Updated 

After taking profits on Bitcoin short trade setups (see links below), I was carefully watching to see how price would react to the $5,900 area expecting a rally (profit taking). There was a nice rally up to the $6,600 area. Now, if you look closely there was a complex inverse head & shoulders pattern forming. The right shoulder was smaller, however the volume...

hedgewithcrypto Updated 

Failed break out of a descending channel. Favoring the downtrend to continue. There is a head and shoulders forming that I intend to short. Will wait for price to confirm before entering. Profit target is a Fib cluster just below. Stops above the right shoulder after entry. Please give this trade idea a THUMBS UP and I will keep you updated! Disclaimer:...

hedgewithcrypto Updated 

Possible at market shorting opportunity on Etherium. Breaking a pennant formation. Targets shown. Apologies for the lack of description as i'm off to bed! Please give this trade idea a THUMBS UP and I will keep you updated! Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.

hedgewithcrypto Updated 

Further to my previous post titled "Further downside for Bitcoin expected" (link below), the bear flag pattern / ascending channel broken to the downside and reached our profit target. This also coincides with a 127% Fib extension. So where to now? Firstly, I will draw your attention to the shaded yellow area on the chart. This is a DEMAND zone in which...

hedgewithcrypto Updated 

There is a larger falling wedge pattern on EOSBTC that I've been keeping watching closely. I believe we are near the bottom and targetting a breakout to test the 38.2% Fib from the beginning of the falling wedge. On the smaller time frames, I've been entering into a LONG position on: Double bottom pattern Cup and handle pattern Bull flag pattern I will...