People who follow me know that I'm not a big fan of inverted H&S but this one in daily is incredibly beautiful. Volume is confirming it. Not so much to say here: remember never trade a pattern before the breakout/breakdown.
In the case of a breakout, we could see a retest of the previous descending triangle which should act as a strong resistance now before a potential final wave down.
We are currently facing 50 MA, with a bullish triangle pattern. We should know by Monday which one will win.
The interesting point is we have now broken the longtime periodic trend of the Fibonacci specter level (change of color): I'm curious to see what will happen.
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LTC is breaking his resistance and try to establish his inverted H&S :
I expect BTC to do the same tomorrow with the open of the futures.
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Don't forget to like, comment, share and follow if you want more content! Happy year of trading, can you smell the money too? :D
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And... That's it! We will test the resistance neckline pretty soon. Bulls will need volume if they want to break it, a gap on Futures could help them.
交易結束：達到停損點
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Neckline tested and be rejected with good volume. The stop is reached.
Hey do you trade on bitmex?
I keep getting this problem where my stop losses have ridiculous slippages, but for no reason.
For example just now, I had a stop loss on Eth at 129, it got triggerred at 126, even though the 5 minute candle went from 130 to 127.50.. like it makes no sense why it'd be closed at 126.
Same happened earlier today when I had another stop on Eth at 138 and it closed at 133, very frustrating.
Is this normal, how are your stop losses like?
KassandrA_dotcom
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@NQ95, Sorry man, I'm not trading on Bitmex, I can't help you on this, but it's a common knowledge that exchange executes your stop-loss under it, but 3$ is big. Wish you good luck
NQ95
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"The interesting point is we have now broken the longtime periodic trend of the Fibonacci specter level (change of color): I'm curious to see what will happen."
Hey ComeTCrypto - if you don't mind what price level would confirm a breakout? Are you suggesting to market buy into the breakout? Really appreciate your charts.
already one year long past what is view about the market after one year drop
still in a downtrend or already bottomed
thanks