CryptoCurrency: Ethereum News September 08, 2017 at 07:27AM #ETH

British Columbia Securities Commission Approves Registration Of #Cryptocurrency Investment Firm First Block Capital https://t.co/w3was3W7s2

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CryptoCurrency News: US Federal Reserve Hints at DLT Integration in New Report

The US Federal Reserve hinted in a report this week that it might look to integrate distributed ledger tech in the future.

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CryptoCurrency News: Wallet Provider Blockchain Partners With Indian Bitcoin Exchange

Blockchain, the provider of the world's most popular bitcoin wallet, has partnered with Indian cryptocurrency exchange Unocoin.

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CryptoCurrency: Ethereum News September 08, 2017 at 04:42AM #ETH

Lawmakers Of The Congressional #Blockchain Caucus Introduce The #Cryptocurrency Tax Fairness Act Of 2017 https://t.co/0M9lCgaOpX

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CryptoCurrency News: $257 Million: Filecoin Breaks All-Time Record for ICO Funding

Filecoin's initial coin offering has ended, raising more than $257 million over a weeks-long token sale.

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CryptoCurrency: Ethereum News September 08, 2017 at 03:38AM #ETH

European Central Bank’s Mario Draghi: No Member State Can Introduce Its Own Currency. What's this mean for #estcoin? https://t.co/o2mkgjLMwr

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CryptoCurrency: Ethereum News September 08, 2017 at 03:08AM #ETH

Crypto Valley Association Explores Token Offering Code Of Conduct https://t.co/n97kyRxGaT @thecryptovalley #ICO

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CryptoCurrency: Ethereum News September 08, 2017 at 02:59AM #ETH

Times Higher Education Reveals Academia Is Adopting #Blockchain Technology https://t.co/dPAsCc71G3

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CryptoCurrency: Ethereum News September 08, 2017 at 02:22AM #ETH

Cambridge Blockchain Joins @infrachain Initiative And Branches Into France https://t.co/GIGEZRdM2V @C_Blockchain

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CryptoCurrency News: US Lawmakers Seek Tax Exemption for Bitcoin Transactions Below $600

A new bill has been introduced in the US Congress that would create a tax exemption for some purchases made with cryptocurrency.

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CryptoCurrency News: Cambridge Blockchain Joins Government-Backed DLT Group in Luxembourg

Massachuetts-based digital identity startup Cambridge Blockchain is opening a new office in Paris.

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CryptoCurrency: Ethereum News September 08, 2017 at 12:44AM #ETH

Crypto Coins, Tokens, And Securities: A Guide To Digital Asset Classification https://t.co/JJ8mIGu7Ev #Ether #Cryptocurrency

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CryptoCurrency News: No Man's Land? Ether Prices Approach $350 But Struggle to Build Momentum

The price of ether is seeking direction, but where are they headed from here? A look at the charts may leave more questions than answers.

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CryptoCurrency News: Ethereum Startup ConsenSys Launches $50 Million Blockchain Fund

ConsenSys, the ethereum-based blockchain development firm, has announced a $50 million venture capital fund for startups working with the technology.

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[FOREX TIP] The Inside Day Chart Pattern and Trading Strategy

The Inside Day Chart Pattern, also known as the inside bar pattern is one of the candlestick or bar patterns that has the potential for a break out. The inside day or the inside bar pattern might seem similar to the harami pattern that is found in the candlestick charts. This pattern holds its importance as it can crucially signal which way the markets will move next. Many traders mistake the inside day or the inside bar pattern as a reversal pattern. This is partly true. However, most of this is based on the following price action which determines the breakout and the near term direction in prices.

As a trader, it is important to understand the inside day pattern as it is a commonly recurring theme in the forex markets. For example, on a typical Monday when the economic calendar is quiet, you can often see that the markets (different currency pairs) often trade in an inside day pattern. Understanding how the inside day pattern works can be of great significance for traders as it can hold potential clues to expect what comes next. In this article we will take a closer look at the inside day or the inside bar chart pattern.

How is the Inside Day Chart Pattern formed?

As the name suggests, the inside day pattern forms when price action during the day is confined to the ranges of the previous day’s session. As the name suggests, the inside day pattern is applicable on the daily charts. For further consideration, traders look to the highs and lows and not the open and close. Thus, when today’s high and low is confined (and obviously the open and close) within yesterday’s high and low range, it is said to be an inside bar.

The first chart below, Figure 1 shows a typical inside day pattern. You can see how the current session has been confined to the previous day’s session. It doesn’t really matter whether the inside day pattern closed bearish or bullish.

Figure 1: Inside Day Chart Pattern

What matters to traders is how the price action that follows the inside day forms. Typically, depending on the breakout of the inside day pattern, the general wisdom is that price will continue in the same direction. However, make no mistake that you should be cautious. Because of the popularity of the inside day pattern, you can often see false breakouts, or fake-outs following which price completely reverses directions. By doing so, the market captures the weak positions which can often result in losses.

So How Can One trade the Inside Day Bar?

The basic premise is that once the range is established after the inside day pattern is formed you simply trade in the direction of the breakout (with validation from other indicators or support and resistance levels). The entry is usually placed at the close of the breakout with stops placed a few pips away from the high or the low. For take profit, you can either set a 1:2 risk/reward set up or use a pivot level or support and resistance level to book your profits.

Inside Day Bar at the top of the uptrend

When an inside day bar occurs at the top end of the trend, based on the volume, you can expect to see a correction taking place. When there is no valuable information such as volume, you can often refer to other indicators. For example, bearish divergence or a hidden bearish divergence accompanying an inside bar near a previous resistance level can reveal key information to the trader who pays attention.

Thus, when you combine the information such as the divergence, the resistance level and the inside day pattern you can expect price to reverse and decline. But once again, this is not always the case because price can often post a fake out to trap the positions. In Figure 2, you can see an example of the inside day pattern that was formed after the top end of the rally. Here, after a strong rally, the market posted an inside day pattern. This was followed by another session that was close to another inside day pattern.

Figure 2: Inside day Chart Pattern at the top of an uptrend

Eventually, price falls sharply after the breakout from the low of the engulfing bar. What the above inside day pattern tells you is that price action was ready for a correction following the downside breakout.

Inside Day Bar at the Bottom of a Downtrend

An inside day bar at the bottom of a rally can signal a potential reversal or a correction on an upside breakout. However, one should not assume that just because an inside day pattern emerged that prices will reverse. Sometimes you can expect a downside breakout which could signal continuation to the trend.

In figure 3, we have an example of an inside bar breakout at the bottom of a downtrend. Here, you can see that price remains tightly range bound with the previous high and low. But then a strong upside breakout signals the change of the trend as price rallies strongly thereafter.

Inside Day Chart Pattern at the Bottom of a Downtrend

You can also notice that price briefly declined below the low of the range but quickly recovered. Thus, traders who did not wait for a confirmed close below the low would have seen quite some losses.

In conclusion, the inside day pattern or the inside bar pattern is simply an engulfing bar followed by another session whose high and lows are contained within the previous session. This pattern is very simple and easy to understand. It can quickly yield tremendous profits within a short span of time if applied correctly and validate by other indicators.

The post The Inside Day Chart Pattern and Trading Strategy appeared first on Advanced Forex Strategies.

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CryptoCurrency News: Bitcoin Breakout? Price Action Analysis Hints at Possible Pullback

Though the price of bitcoin may appear to be heading back toward all-time highs – technical indicators suggest appearances may be deceiving.

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CryptoCurrency News: Accountancy Platform Xero Adds Veem's Bitcoin-Powered Payments

Users of cloud-based accountancy platform Xero can now send payments via the blockchain, thanks to an integration with Veem.

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[FOREX NEWS] Draghi Press Conference Live Blog

All eyes are on Mario Draghi. Will he lay out the beginning of the end of the QE program? Speculation has been rife about the possibilities and the attempts he might make to talk down the euro. Preivew: ECB Preview: Low expectations could send the euro shooting higher Follow a live blog of the events. [...]

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CryptoCurrency News: Reg D on the Rise? Regulated ICO Products Are Coming – and Soon

Is the market for ICOs maturing? Protos' recent announcement of a security token shows an institutional investor market ready to play by the books.

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[FOREX NEWS] ECB leaves policy unchanged – EUR/USD holds high ground

The European Central Bank left its policy unchanged. In the accompanying short statement, they maintained their usual phrase about QE: it will continue through 2017 or beyond if necessary. EUR/USD holds onto the levels it climbed to earlier. The ECB was expected to make an announcement, perhaps at the beginning of the end of its [...]

The post ECB leaves policy unchanged – EUR/USD holds high ground appeared first on Forex Crunch.

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[FOREX TIP] The Island Reversal Gap Chart Pattern

The Island Reversal Gap Chart Pattern is a commonly occurring chart pattern in the stock markets. In fact the name comes from the stock markets as gaps were quite a common phenomenon in the equity markets. However, the island reversal gaps in the forex markets are not that frequent. While gaps in the forex markets, especially on a Monday open are now common, finding an island reversal gap is quite rare. Therefore, traders who are interested to trade this pattern are better to act when the pattern emerges rather than simply wait for the pattern and stay on the sidelines.

Among the many different types of patterns, the island reversal gap patterns are unique as they have higher odds of being successful. The island gap pattern can be typically applied to any time frame, although it is best to limit this pattern to the 15-minute chart and higher time frames in the forex markets. The island gap reversal pattern, as the name suggests is a reversal pattern. When you see this pattern emerging after a strong uptrend or a strong downtrend, you can expect the markets to reverse. Stock market traders also make use of volume as an additional confirmation tool.

In the very short term, the island gap reversal pattern can be a good way to speculate the markets. It is a pattern and not a strategy therefore; traders should combine the island gap pattern with other confirmation indicators or trading strategies.

How is the Island Reversal Gap Chart Pattern formed?

The island reversal gap chart pattern is formed when price is declining or falling but you see two gaps; the first gap occurs in the direction of the trend, followed by either a single or multiple sessions trading within a range and then a gap in the opposite direction occurs. Depending on how and where this forms (especially near support or resistance levels) the island gap reversal pattern increases the probability of a trade.

The Island Reversal Top Pattern

The island reversal top pattern is identified by an up gap in an uptrend followed by a down gap during the third session. However, traders should give this a lot of flexibility as sometimes you can expect the following down gap to occur after three or even four session.

What matters is that you find the two overlapping gaps to be formed in the opposite direction. In Figure 1, we have an island reversal top pattern that was formed after price rallied to a certain extent. Following this rally, we can see that price first gapped higher following which after the next session, price then gapped down lower.

The Island Reversal Top Pattern

Here, you can see that after the down gap occurred, price posted a steady decline and fell sharply. As the above chart illustrates, the island gap pattern is a very powerful pattern which can signal a sharp move.

The Island Reversal Bottom Pattern

The island reversal bottom pattern emerges at the bottom of a downtrend. Here, you can see that price gaps lower and after the next session, an up gap is formed. Following this bottom reversal pattern, price then posts a sharp rally. In Figure 2, you can see that island reversal bottom pattern. Here, price first declined followed by a down gap. Following the next session, price then gapped higher and followed through with a rally.

Figure 2: The Island Reversal Bottom Pattern

In the above example you can see how price did not even make a pull back. Thus traders who were trapped in the opposite direction would have seen some severe losses.

Trading rules and stop loss

As with any pattern based trading, it is not advisable to trade the patterns in isolation. This is due to the fact that at times the markets can trap traders before reversing direction. Therefore, traders must look to the market context and take help of other indicators if need be in order to have at least two confirmations before trading. Assuming that you are trading with the island gap pattern, simply place your trades after a bearish close in an island top pattern following the down gap or wait for a bullish close after the up gap in a downtrend.

For stops, you can place the stops at the recent pivot high (in an uptrend and for a island reversal top pattern) or at the recent pivot low (in a downtrend and for an island reversal down pattern). The targets can be based either on risk reward ratio set up or you can use other trading indicators or strategies to book your profits.

The Island Reversal Patterns aren’t that common to the Forex markets, but they do occur from time to time. When the pattern occurs, you can be sure that the markets will be positioned very strongly. Traders should also pay attention to the risk as a fake reversal could potentially keep you on the losing side very quickly.

The post The Island Reversal Gap Chart Pattern appeared first on Advanced Forex Strategies.

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CryptoCurrency News: Ukraine's Government Plans to Auction Seized Assets On a Blockchain

Ukraine's justice ministry has begun testing the use of a blockchain to digitally auction seized assets, according to a report.

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[FOREX NEWS] EUR/USD: 5 Reasons Why Draghi Won’t Likley Talk Down EUR In A Meaningful Way – ANZ

The European Central Bank is about to make its decision and it seems that the euro cannot wait. EUR/USD is advancing towards 1.20. Can it continue higher? Here is their view, courtesy of eFXnews: ANZ FX Strategy Research argues that that there are 5 reasons to be skeptical that President Draghi will address euro strength head-on in [...]

The post EUR/USD: 5 Reasons Why Draghi Won’t Likley Talk Down EUR In A Meaningful Way – ANZ appeared first on Forex Crunch.

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CryptoCurrency News: Putin-Backed Political Group Advances 'Green' Cryptocurrency Concept

A Russian political group formed by President Vladimir Putin is planning to advance a green-friendly cryptocurrency concept.

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CryptoCurrency News: Israel's Largest Bank Begins Blockchain Trial With Microsoft

Israel's largest bank is working with software giant Microsoft to develop a blockchain-based platform for creating digital bank guarantees.

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CryptoCurrency News: Seeing Ghosts: Vitalik Is Finally Formalizing Ethereum's Casper Upgrade

Ethereum creator Vitalik Buterin has finally begun formalizing his vision for proof-of-stake in a series of long-awaited white papers.

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