Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

TheNegotiator

Delta Volume in Intraday Trading

Recommended Posts

Hi,

 

This is a new thread to discuss all things Delta - referring to the difference in trades placed at the bid compared with the offer. So for example if 10000 contracts trade at one price over a 5 minute period in the E-Mini S&P 500 contract, 6000 bought at the offer and 4000 sold at the bid, the delta of that price would be +2000. The premise is that the traders who do their business at market are the more aggressive participant. Another example would be in the same 5 minute period, regardless of price, 50000 contracts are traded. Let's say 20000 were bought at the offer and 30000 were sold at the bid. That 5 minutes would be said to have a delta of -10000.

 

For me, delta is a great visualisation of one way action that may lead to a decent move during the day. You can see if you are watching say a 15 or 30 minute chart the imbalance of trade building up and it can be a great indication of continuation in a particular direction.

 

Another way in which I have more recently found delta useful is by watching cumulative delta compared to price movement. Cumulative delta is just like a price chart but with delta. So let's say you have 5 minute bars and you have deltas over the course of 15 minutes of +7500, -1500 and + 4000. You would get a delta plot of +7500, +6000 and finally +10000. So I have found that for example when the cumulative delta is pushing down and overall price is drifting up, there is an implication that there is an underlying bid in the market which is strong enough to absorb that aggressive trade and as such often the market can then break in the direction of price. This is divergence.

 

I also know that with tools from certain vendors, it is possible to look at delta action in much greater detail. Traders might look at say delta at extreme prices when the market is retesting these extremes to judge better the effort of the market than simply looking at volume.

 

There are many ways in which delta can be applied and interpreted and I feel it could be useful to discuss them here. I am happy to answer any questions on the subject, although there will be many who know more than I do!

 

TheNegotiator.

Share this post


Link to post
Share on other sites

Thanks for opening this thread Negotiator.

 

Very timely for me as I have recently started looking at these metrics myself.

One of ways I am trying using Delta is to identify trapped retail, as this is my preferred setup.

 

What Delta tracking tools are you using?

 

On what platforms/feeds?

 

Are there any you have tried and rejected for some reason?

 

 

Thanks and look forward to a good discussion and sharing research on this topic.

 

 

JohnBly

Share this post


Link to post
Share on other sites

Currently I am using Ninja/zenfire. There is an add on which is pretty good for a monthly subscription but I don't use volume breakdown at price at the moment at least. I have used market delta in the past with CQG and this is very good. I did feel though it was somewhat a waste considering the cost and the basic way I used it.

 

How are you looking for trapped retail? With the way CME unbundled some of the tick data, isn't it easier to have commercial appear as retail? I'm sure it is possible but I've never really gone into such depth.

 

Cheers,

 

TheNegotiator.

Share this post


Link to post
Share on other sites

[quote name=

With the way CME unbundled some of the tick data' date=' isn't it easier to have commercial appear as retail?

[/quote]

 

Yes the rub isn't it?

 

 

Here is a description of the new CME reporting I ran into:

 

"As of last Monday( early 2009), the CME changed the way that they disseminate trade information for equity index futures. Due to the changes, there are now 2.5 times more reported trades in the e-mini SP500. Here are the highlights and potential ramifications:

 

There used to be, on average, 1800 trades a day of 199 contracts or more. After the change, we are averaging about 400 trades a day of 199 contracts or more. In addition, the average trade size used to be 12 contracts. It is now between 3-4 contracts. Needless to say, it has become very difficult to follow "the smart money" (large buyers and sellers). This is because trade reporting is based on counterparties. Prior to the changes, if I placed an order to buy 100 contracts at market, the tape (time and sales) would show a single 100 contract market order executed, or possibly one 25 executed market order and a 75 executed market order (or something to that extent). After the CME changes, my 100 contract market order will now be reported based off of each counterparty. Therefore, if it takes 70 different counterparties to fill my 100 market order, the tape will reflect all 70 trades individually Keep in mind that it could be a single counterparty executing my trade, they could just be offering out 70 one and two lot offers as opposed to a single 100 lot offer (I called the CME, this is how they explained it to me)".

 

As for tracking retail vs block under these new conditions, I need to understand the exact CME trade reporting algos better before attempting to create a tool.

 

One basic concept I have is to track the mkt order volume over very small timeframes. If a 2000 lot block mkt order is being bled out in small lots, they are going to want to get it done fast so as not to telegraph, so one would expect flurry of trades at bid/ask over small time period (ei 1 sec). So perhaps this kind of thing could be filtered for.

 

If anyone feels they have a good detailed grasp of the CME trade reporting situation maybe they can post. Thanks.

Share this post


Link to post
Share on other sites

Hi,

 

Prior to the prop shop I currently work with, I worked for a decent sized prop shop in Chicago. They never put through a large order on the CME, they always "shredded" their orders, in fact, they had algorithms just for breaking up the large orders into randomly sized smaller orders (1-3 lots).

 

They also stacked the book in such a way as to always be near the top with some orders and yet have others sprinkled throughout. This allowed them to quickly pull an order from the front of the book if the algo "didn't like" the order flow but still retain some position in the queue in case the order flow returned to something that could be traded.

 

One major question - do you know of any completely unfiltered, non-coaleseced data feeds that are not institutional in terms of cost? If you are only getting snapshots, regardless of how frequent, I don't know of any way to guarantee the trade is lined up with the actual inside bid/ask of the book.

 

Without unfiltered data you don't really have an accurate delta because even though it looks like a trade went off at the ask, it may have been the bid when it was initiated.

 

Best Regards,

Scott

Share this post


Link to post
Share on other sites

they always "shredded" their orders, in fact, they had algorithms just for breaking up the large orders into randomly sized smaller orders (1-3 lots).

 

Scott, wondering how "Shredding" was used exactly.

Do you mean market orders to open a position were bled out discreetly in this way to hide their footprints?

 

One major question - do you know of any completely unfiltered, non-coaleseced data feeds that are not institutional in terms of cost?

Without unfiltered data you don't really have an accurate delta because even though it looks like a trade went off at the ask, it may have been the bid when it was initiated.

 

Researching this myself.

Someone I know who relies on Delta work swears by DTN.IQ.

I have ZenFire, CQG and Photon here so I will be comparing them over the next few weeks.

But part of the problem with this matter is that apparently the exchanges themselves bundle the data. I believe this is true primarily when order flow is high. So Time & Sales may be getting bundled when things are busy. This may mean misreporting whether hits are at bid or ask, and also bundling several small lot trades into single bigger trades. Perhaps someone who understands this better can comment.

Share this post


Link to post
Share on other sites
Currently I am using Ninja/zenfire. There is an add on which is pretty good for a monthly subscription but I don't use volume breakdown at price at the moment at least. I have used market delta in the past with CQG and this is very good. I did feel though it was somewhat a waste considering the cost and the basic way I used it.

 

I was using eSignal when I became interested in market delta analysis. The problem was that eSignal would not backfill bid/ask volume plots. I opened a demo account to try out Ninja/zenfire but it seemed to have the same problem. It sounds like you're alluding to the Final Market Balance add-on but all I need is the basic delta (bid/ask/difference) plot and a plot of the cumulative delta. Are you getting backfilled delta volume plots with out-of-the-box Ninja Trader/Zenfire?

Share this post


Link to post
Share on other sites

Imo, the issue about bundling is only a problem if you are looking for specific traders. When I started on eurex, it used to be obvious when paper came in. Then they made it tough. I decided that it had become best guess and it was better to look at the context of trade occurrence rather than specific size. You can still get a feel generally if you are decent at DOM reading, but I never rely on this alone. So for me, it's about delta with context.

Share this post


Link to post
Share on other sites

John, shredding was used for a couple of reasons - to disguise their intentions and to maintain a predictable position in the queue at a given price.

 

Let's say the ES is 800 on the inside bid; the algo would put in 50 orders in those 1-3 lots sizes, wait a few milliseconds to a couple of seconds and do it again. They do this over and over until they have 300 - 500 orders scattered through the 800 (which by now might be 2000 depending on what other players are doing.

 

Here is the part that is difficult to explain: they didn't necessarily want those first orders, they were just placeholders. They would then cancel order and see if other algos followed suit thus allowing the orders further back to move forward. They would cancel orders/add new ones until they felt they were in just the right place in the book and then let them rest to execute or get pulled if the market moved the wrong direction.

 

The goal is to be at the top of the queue with a large number of orders behind you. Because their commissions were less than $.50 a round turn, scratching a trade meant nothing. So if you are filled and there are a lot of orders behind you if you want out, you just hit that side and scratch the trade.

 

Because they are doing this on both the bid and ask, the ideal trade is to be near the top of the book on the opposite side and once they get the first side filled, they get out virtually immediately on the opposite side with a 1 tick profit. They do this literally hundreds, if not thousands, of times per day.

 

I may not be doing a very good job of explaining this but it is a random walk trade. If you have the speed, commission structure and capital to have literally thousands of orders outstanding at any given time, it is the lowest risk trade in the universe.

 

As to the other question; thanks I will check those out. The exchanges can burst data out but it will be consistent at the timestamp level regardless of when it is actually received. Again, there was an entire group of programmers whose only task was to write data integrity/alignment algorithms.

 

Scott

Share this post


Link to post
Share on other sites

Scott,

Thanks for describing that.

Pretty clever system they were running, with very low risk it seems.

But couldn't do it without that $.50 commission...

 

When that firm had market orders to place, did they shred those too?

Share this post


Link to post
Share on other sites

They didn't normally use market orders or stops because they always had orders on both sides of the market. They shredded all orders.

 

There are literally dozens of things like the one I described. They combine to make it very difficult to compete in the micro scalping (essentially market making) arena.

 

However, with any directional component involved the playing field gets leveled pretty quickly. Once you are going for more than a couple of ticks things get a lot move even.

 

There are still things you can do with an ultra fast data feed that a normal retail trader can't - think of all the times you have been stopped out because a small order (sometimes a 1 lot) hits your stop price with a gazillion orders at that level.

 

Your stop is triggered but it was one of a handful of trades at that price. With a fast enough feed, an algorithm can monitor the number of contracts and if it gets below a threshold you hit the market, otherwise you let it ride. Often you end up stopping out anyway but for the high frequency player, that technique alone saves thousands over the course of a month.

 

Scott

Share this post


Link to post
Share on other sites
They didn't normally use market orders or stops because they always had orders on both sides of the market. They shredded all orders.

 

There are literally dozens of things like the one I described. They combine to make it very difficult to compete in the micro scalping (essentially market making) arena.

 

However, with any directional component involved the playing field gets leveled pretty quickly. Once you are going for more than a couple of ticks things get a lot move even.

 

There are still things you can do with an ultra fast data feed that a normal retail trader can't - think of all the times you have been stopped out because a small order (sometimes a 1 lot) hits your stop price with a gazillion orders at that level.

 

Your stop is triggered but it was one of a handful of trades at that price. With a fast enough feed, an algorithm can monitor the number of contracts and if it gets below a threshold you hit the market, otherwise you let it ride. Often you end up stopping out anyway but for the high frequency player, that technique alone saves thousands over the course of a month.

 

Scott

 

Scott,

 

Fascinating insight into some of the inner technical workings that make up the market. In this case though, it doesn't seem as though it is directly affecting the delta. Correct me if I am wrong though.

Share this post


Link to post
Share on other sites

I always found Delta to be most useful in context. If you constantly try to read it, it will drive you nuts, but if you are trading pivot points, for example, it can provide a look at order flow at the pivot.

 

One thing you can look for is extreme deltas with failure to break the level significantly. Example: Price declines to a support level. You look at the delta, which shows a 5000 selling delta one tick below the pivot. You also notice that prices have stalled. You could take this to mean that passive buyers (limit orders) are absorbing all that aggressive momo selling. If you are in a mean reverting instrument like Spoo, you want to be on the lookout for a pop. This can help you exit your short profitably, and/or put on a long with some confidence.

 

It doesn't always happen this way of course, but there's an example of how I think Delta should be used. The important thing to remember is that screen time and context are everything as usual.

Share this post


Link to post
Share on other sites
Thanks sdoma. I definitely think that this is the sort of idea that is very useful to intraday traders. What are your thoughts on cumulative delta?

 

I will preface this by saying that I haven't done as much back testing on cumulative delta as I'd like. From what I remember, I wondered what information it gave you that simply observing price action couldn't. I would have to guess that you'd want to look for divergences between cumulative delta and price, but again, could a CCI give you that?

 

To sum up, from my recollections I wasn't sure if I saw an edge or not. I will come back to it eventually to test it.

Share this post


Link to post
Share on other sites
Please elaborate on the signs that gave a hint about "paper coming in".

 

"Paper" means institutional order flow. In the pit, it was obvious since the broker was standing right next to you as he did the orders. On the screen, you could see it because the orders were larger. Also, initially I think there were names attached to orders in time and sales.

 

Now, institutional order flow is chopped up to make it harder to see. Institutions don't want other participants jumping on and affecting the quality of their fills. So, instead of 2000 in the S&P it will be done in ones, twos, and threes by an algorithm.

Share this post


Link to post
Share on other sites
"Paper" means institutional order flow. In the pit, it was obvious since the broker was standing right next to you as he did the orders. On the screen, you could see it because the orders were larger. Also, initially I think there were names attached to orders in time and sales.

 

Now, institutional order flow is chopped up to make it harder to see. Institutions don't want other participants jumping on and affecting the quality of their fills. So, instead of 2000 in the S&P it will be done in ones, twos, and threes by an algorithm.

 

Exactly. I think you are right about the names in t/s but I never saw that when I first started. I was told it was separated into different groups though rather than specific names.

Share this post


Link to post
Share on other sites
Delta or cumulative delta is completely useless IMO there is no edge as most of the volume is done in a limit fashion very little percentage of the volume is done by aggression.

 

AuctionMarket_Trader,

 

I am glad you qualified your statement with the all important IMO, otherwise I would have to take you up on this statement. As it is though I have a question for you. When a market auctions from one price to another, what is the relative ratio of price moves which happen by pure movement of bid/ask order queue to the next price, to the number which happen due to the bid/ask being traded out? You say most volume is done by limit orders. How do you think those limit orders get filled? I would question the depth to which you are applying the delta concept and the level of context you use it with.

Share this post


Link to post
Share on other sites

looking at delta is like looking at a candle chart when price goes up so does delta so i dont see a point there, as far as delta divergence or anything like that their is no point because when price goes up in an aggressive fashion the orders are pulled out of the que so the delta will be magnified not showing the real intent or the actual quantity or strength as i said before better off analyzing responsive action. There are many resources and people who code the algos for major firms that agree to this for more info you can look at this papers which are very hard to read but you will get an idea http://www.tradingphysics.com/Resources/Papers/

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date : 27th November 2020.FX Update – November 27 – Sterling in FocusGBPUSD, H1Narrow ranges have been prevailing in risk-cautious trading. The USDIndex settled around the 92.00 level, above yesterday’s 12-week low at 91.84. EURUSD remained buoyant but off from the 12-day peak seen yesterday at 1.1942. Cable also held within its Thursday range. USDJPY ebbed to a four-day low at 103.91. The Yen was concurrently steady versus the Euro and the Pound, but posted respective two- and four-day lows against the Australian and Canadian Dollars. AUDUSD ticked fractionally higher, which was still sufficient to lift the pair into 12-week high terrain above 0.7380. NZDUSD posted a new 29-month peak at 0.7030. USDCAD remained heavy but just above recent 17-day lows. Bitcoin, which performed strongly this year on the back of dollar liquidity, found a toehold, but remained over 12% down on its recent highs.US markets will reopen after yesterday’s Thanksgiving holiday, but market conditions will remain on the thin side. President Trump said that he will leave the White House if the Electoral College votes for Biden, which may be as close to formally conceding the election as he will go. A sharp focus remains on EU and UK talks, with a face-to-face round reportedly taking place in London over the weekend. There are now reports that the EU parliament might convene as late as December 28 to ratify a deal, if necessary.The spectre of a no-deal hangs over proceedings, though the consensus, as judged by the ongoing stability of the Pound, remains for a narrow deal to be reached.Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Date : 26th November 2020.Brexit endgame remains in sharp focus!The USD has remained soft in quiet conditions, while global asset markets have seen little direction. The US Thanksgiving holiday has quelled activity. Europe’s Stoxx 600 traded near flat. Most stock markets in Asia gained, though remained off recent highs. The MSCI World Index is also off its highs, but remained buoyant and on course for a record monthly increase this month. Copper posted a new near 7-year high, and while other base metal prices were also underpinned most remained off recent trend highs. Oil prices saw modest declines after recent gains, which culminated in a nine-month high yesterday.The Brexit endgame remains in sharp focus!Sterling has seen limited direction, continuing to hold gains from month-ago levels of around 1.5% to 2.5% versus the Dollar, Euro and Yen. There is still no breakthrough in down-to-the-wire negotiations between the EU and UK, and there are lots of warnings of border chaos and, from external BoE MPC member Saunders, of long-lasting economic consequences in the event of a no deal exit from the common market.European Commission president von der Leyen said “we are ready to be creative” to get a deal while repeating that “we are not ready to put into question the integrity of the single market.” An Irish government member said that a deal was “imperative” for everyone.The steadiness in the Pound, the principal conduit of financial market Brexit sentiment, reveals that investors remain unperturbed. One explanation is the real money participants are sitting on their collective hands, positioning for an expected deal but waiting on concrete developments and details, while maintaining vigilance on the possibility of there being a no deal by accident.Short-term speculative participants, meanwhile, don’t seem to have had a fruitful time in trying to play the fatiguing myriad news headlines and endless deadlines that have come and gone. The latest and supposedly final deadline, is next Tuesday — December 1 — which leaves just one month for a deal to be ratified on both sides of the Channel. We expect to a deal to materialize at the last minute, just as the withdrawal agreement was seemingly pulled out of the hat at the ultimate minute a year ago. There may even be a fudged extension.Pressure on the UK government is intense. US president-elect Biden warned London that the scope for a deal with the US would be compromised if there is a return of a hard border on Ireland — which is what could happen in a no-deal scenario (the UK government would have the choice between maintaining a free-flowing border on Ireland at the price of breaking up the border integrity of the UK, and possible protests and even violence from loyalists, or breaking the EU withdrawal agreement, which would result in a hard Irish land border).A leaked Whitehall document warns of a “perfect storm” of chaos in the event of a no-deal in the Covid-19 era. There are also pressures on the other side of the Channel to reach an accord. While French President Macron has political incentive to put up a show of fighting over fishing rights, he is not likely to carry through on his threat to veto any deal as other key EU states don’t see the UK’s position on fishing as being unreasonable. France and other nations, and the UK, also need to maintain good relations for security and many other practical reasons.As for the market impact of a deal, much will depend on how narrow the deal is. The narrower it is, the bigger the negative impact on both the UK and EU’s terms of trade positions will be on January 1, particularly the UK’s.Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Those who take quick and payday loans and refuse to pay them back are now hooked.   Normally, it is not a good thing to go into debt unless that is your last resort. We know that people are fond of borrowing and they seriously hate paying it back. Even when it comes to paying back what was borrowed, your creditor will become your enemy. Such is the nature of human beings.   Debtors don’t want to return money even when they eventually have means of repayment. If anyone borrows money and returns it, it means the person has a Godly spirit in him.   If people ponder the power of compound interest, they would stay away from loans. If you pay 1.33% or 1.79% interest per month on a loan, you will need to pay back roughly 16% or 20% per annum. And this will begin to compound as long as you don’t pay.   Most borrowers who are now in trouble have realized that the interest rates are eventually higher than the capitals borrowed. They realize that the creditors are using an indirect way to enslave borrowers (go and work for me, bring back the capital plus profits).   The banks themselves know that business environment is very tough and are now indirectly asking people to work with or spend the banks’ funds and bring the funds plus profits back to them. Many borrowers really have poor mentality and they don’t know the gravity of what they’re putting themselves into.   If a bank could lend out 1 billion USD per annum, it would reap a return of 150 million USD (at least on paper). Do you think they will forget about you if you owe them even a small amount?   Loans without collateral are now popular. But your collateral is your BVN – unless you don’t want to operate accounts again in the country.   I have heard people saying” Don’t pay to my Access Bank account again, but pay into my UBA bank account.” “Don’t send that cash into my GTBank account again, but send it to Zenith Bank.” It’s like postponing the evil day.   Ti iya o ba i tii je eniyan, iya nri nkan panu lowo ni (Yoruba adage). I literally means: If Suffering has not come to attack you, it means Suffering is currently busy with something. If you think you can avoid payment by abandoning the account you used to borrow money, you’re only postponing the evil day.   They cannot come for you when your debt is small, but the debt will begin to compound and compound till it would make sense for them to come for you.   BAD NEWS FOR DEBTORS CBN has given banks permission to deduct from funds a debtor has in another bank account. For example, if you borrow quick loans from FCMB and you abandon your FCMB account and you are now operating another account with First Bank, FCMB can make a request to First Bank, and the money you owed will be deducted once or gradually from your account at First Bank, without your permission.   Would you now keep money at home, so that bad boys will come to you to take their dues?   Borrowing isn’t a good thing, no matter how plausible it looks.   Profits from games of knowledge: https://www.predictmag.com/   
    • LITECOIN (LTC) SUSTAINS RECENT RALLIES, FACES RESISTANCE AT $90 HIGH Key Highlights Litecoin rallies to the high of $90 The crypto may be range-bound between $80 and $90 Litecoin (LTC) Current Statistics The current price: $89.20 Market Capitalization: $5,900,735,267 Trading Volume: $7,953,660,011 Major supply zones: $70, $80, $90 Major demand zones: $50, $30, $10 Litecoin (LTC) Price Analysis November 24, 2020 Litecoin has continued its rallies as the coin reached a high of $89.86. LTC price has been making a series of higher highs and higher lows. The upward move has been facing resistance at $90. On the upside, if buyers can push LTC above $90, the coin will rally above $100 high. However, if buyers fail to resume the upside momentum, LTC will be compelled to a sideways move for a few days. If the uptrend is resisted the coin will be range bound between $80 and $90. LTC/USD – Daily Chart Litecoin (LTC) Technical Indicators Reading LTC price broke the resistance line of the ascending channel. This indicates a further upward movement of the coin. The crypto is at level 74 of the Relative Strength Index period 14. It indicates that the coin is in the overbought region of the market. LTC/USD – 4 Hour Chart Conclusion Litecoin has made an impressive bullish run on the upside. Nevertheless, the retraced candle body on October 31 tested the 61.8% Fibonacci retracement level. It indicates that the coin will rise to a level of 1.618 Fibonacci extension level. This extension is equivalent to $70 high. Meanwhile, the price action is above the projected price level. Source: https://learn2.trade 
    • XRP/USD PULLS BACK AT RESISTANCE LEVEL OF $0.72 XRP/USD MARKET NOVEMBER 26 After the price retracement, it may resume its bullish trend and the resistance level of $0.79 and $0.88 may be reached. Below the current price, the level is found the support levels at $0.55, $0.44, and $0.39. However, the relative strength index period 14 is at 70 levels bending down to indicate a sell signal which may be a pullback. KEY LEVELS: Resistance levels: $0.72, $0.79, $0.88 Support levels: $0.61, $0.55, $0.49 XRP/USD Long-term Trend: Bullish XRPUSD is bullish in the long-term outlook; the crypto soars towards the north by the strong bullish momentum. The bulls’ momentum breaks up the resistance levels of $0.28, $0.33, and $0.36. The price has tested the resistance level of $0.79 on October 24. The price pulls back to retest the broken level of $0.61. Today, the XRP market is dominated by the bears and the daily candle is bearish. The price may increase further after the pullback. XRPUSD Daily chart, November 26 The two EMAs are located below the coin and it is trading far above 9 periods EMA and 21 periods EMA which indicate a strong bullish momentum. After the price retracement, it may resume its bullish trend and the resistance level of $0.79 and $0.88 may be reached. Below the current price, the support levels is found at $0.55, $0.44, and $0.39. However, the relative strength index period 14 is at 70 levels bending down to indicate a sell signal which may be a pullback. XRP/USD medium-term Trend: Bullish The bulls dominate the XRPUSD market. Immediately after the breakout from the consolidation zone, the bulls push the price high above the September high. It is currently pulling back at the resistance level of $0.72. The price is testing the support level of $0.55 at the time of writing this report. In case the just mentioned level does not hold, there will be a further price reduction. XRPUSD 4-Hour chart, November 26 The price has penetrated the two EMAs downside and it is trading below 9 periods EMA and 21 periods EMA. The fast-moving EMA is trying to cross the slow-moving EMA downside. The relative strength index period 14 is pointing down at 50 levels which connotes a sell signal and it may be a pullback.   Source: https://learn2.trade 
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.