TradewithLu

TradewithLu

Bitcoin looks like it may have formed a head and shoulders pattern. The 'right shoulder' seems to have formed already so it may be a good time to enter a short position setting the stop loss at the 'head' price level at around $64,782 and a take profit at around the $62,000 region. The take profit level is calculated by taking the price difference between the...

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Bitcoin is looking considerably bearish based off the structure of price movement since the all time high (ATH) of around $74k. As shown in the chart, there are 5 waves in orange, with waves (1) and (3) in orange forming 5 clear waves. Wave (5) in orange was so strong downwards that it completed in one movement with barely any reaction to the upside. After...

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Bitcoin is looking weak at the moment with a bearish looking head and shoulders pattern that has formed since the 5th of August. At the time of writing the price is currently at the neck line depicted by the dotted pink line. Typically during a head and shoulders pattern, the price will eventually break below the support of the neckline. Next, price often...

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The long term outlook for the FTSE100 is not looking good as it seems an ' ending diagonal ' or a ' leading diagonal ' has formed as shown in this weekly chart. ' A leading diagonal (or an ending diagonal) is typically followed by a deep retracement ' (Frost & Prechter ). Also, ' the fifth wave of an ending diagonal often ends in a "throw-over" i.e., a brief...

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Bitcoin looks like it is setting up for a correction to the downside, so alt coins will follow if Bitcoin does move lower. This could be a good time to enter a SHORT position on DOGE/USD. Wave (3) has completed meaning a correction to the downside in wave (4) should occur next. The stop loss is slightly above the high at 0.14526 and a take profit is set at...

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Bitcoin is looking bullish - Waves (1), (2), and (3) seem to have formed and it looks like a wave (4) down is currently forming. This trade proposes to wait for wave (4) to complete and enter a LONG position between 63650 and 62744, The profit target will be around the local high at 67475. The stop loss is set at 60237 in case the support at the end of wave 4...

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As shown here there is a clear head and shoulders pattern which is highly likely to fall down to the 111 level. The profit target for this short is calculated by measuring the height of the top of the "Head" to the "Neckline", displayed by the white line, and taking this distance from the top of the right shoulder. I found that usually this profit level will be...

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ETHUSD looking highly likely to break the "neckline" of the head and shoulders pattern. Here is a pretty great Risk to Reward ratio of 1.74.

TradewithLu Updated 

Bitcoin could enter a strong 3rd wave down soon which would likely send the price down to as low as 20700. Due to the formation of the 5 clear waves in orange, the next major move looks like it will be a steep drop down. A good entry on the short is at the Entry prices shown below. The volume profile on the left hand side shows a significant amount of volume at...

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As shown in the chart this is an inverted head and shoulders pattern. Most often price will reach the 1:1 extension of the distance between the Head and the neck line (shown by the yellow line) taken from the top of the right shoulder. The stop loss is placed below the tip of the right shoulder. Entry = 0.3748 Take Profit 1 = 0.4755 Take Profit 2 =...

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Gold has had a fantastic bull run since December 2015, however this trend may be due for a reversal ahead. The Green wave 5 seems to have completed, so an entry on a short position can be taken at the current price of 1960.39 Further size can be added to the short if the price reaches 2068.32 as this could be the final push upwards before the reversal. The...

TradewithLu

Simple trade set up here (I am in this trade myself) Head and shoulders patterns will usually break down and this matches with the fundamentals as the market is quite bearish at the moment. Best of luck and this is only intended for educational purposes.

TradewithLu

This analysis is on BNBUSDT however, it relates to the market as a whole as all major crypto coins usually trend in the same direction. This (A)(B)(C) Elliott Wave pattern indicates weakness from the bulls. Wave (C) formed an "ending wave diagonal" where wave 3 is shorter than 1 and 5 is shorted than 3. This usually indicates exhaustion from the bulls and a...

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Hi all, another trade idea I am sharing is XRP/USDT SHORT. I am in this position exactly as is laid out in the image as I believe this is an extremely high probability trade. We have "bearish RSI divergence" which means lower highs on the RSI but higher highs in price. We also have 5 clear waves to the upside with wave (5) being almost exactly the same length...

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Bitcoin is looking weak, with part of wave (C) having already formed, a good target for the downside would be the intersection between the "Golden Ratio" of 1.618 * the length of (A) taken from the top of wave (B) AND the 0.382 retracement of the entire move upwards from 15k to 31k. This intersection is shown by the green box at a price of 23760. In addition, we...

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Here we have a longer term trade for BNBUSDT shown on the daily chart. The Elliott Wave pattern shown in the image is an "ABC" pattern. Blue wave (A) moves upwards and consists of 3 waves: A,B, and C (in yellow). Blue wave (B) moves downwards and consists of 3 waves: A,B, and C (in yellow). In accordance with the theory, wave C in an ABC must end with 5 waves,...

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This is Elliott Wave Analysis that shows a potential long trade opportunity. If Bitcoin breaks down sharply, do not take this trade, as the price will likely drop much further than shown in the image. If the parallel trend channel holds, this could be a good trade. If you do take this, be ready to cut the trade if the market drops further than expected. It is...

TradewithLu

Bitcoin has formed a perfect head and shoulders pattern which tends to break down below the horizontal "neckline" drawn in the image. This analysis is just to warn traders of the potential drop that is ahead and does not have specific entry / exit prices for a trade. This scenario seems simple to trade but it is difficult due to the likely event of "fake-outs"....