chrisatom

chrisatom

As stated in the previous post, price moved through the LVN up to the 23900-24000 area of high volume, where it has slowed and started to consolidate. Price could hang around this area for several days as it tests the pivot and builds the volume profile, although on this timescale it is already elongated with an overall positive skew, showing volume building at...

chrisatom

Dow has maintained above the WP and DM YP on open. Bullish.Price now tackling the monthly pivot and will start to slow down as it hits the next high volume node at 24830-24900. If it stays above we can expect further upside as the LVN will act as support. Daily close above the monthly pivot will be very bullish. As i posted yesterday- we opened above the weekly...

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After closing last year very close to the Yearly Pivot and several weeks opening below the Weekly Pivot, the Dow opened above the WP and spent last week doing nothing until it fell to the WP, where it promptly rallied 700 points to close on the yearly DeMark pivot. We have some serious resistance overhead with monthly and yearly pivots 23700-24000, which ties in...

chrisatom Updated 

After monitoring the large broadening formation for several months and waiting for the lower low to come in (see previous charts), the target was hit in the recent sell off. This also coincided with the long awaited re-test of the yearly pivot- and price closed the year within 250 points of it. After a strong sell off that passed the pivot and lower trend line we...

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After bouncing off the pivot and being contained by the Fib pivot, Bitcoin is hanging onto the last bit of volume support. There is now a Yearly Fib pivot at the previously mentioned high volume node at 2500, and I think price has a high probability of visiting there as soon as it loses the current support in the next sell off. On the positive side- the YP is at...

chrisatom

Bitcoin closed the week down at the yearly S1 pivot- as planned when it broke through the previous fib pivot . As this is the first time this pivot has been tested this year there is little volume here previously, so I expect after an initial bounce it will continue down to the volume support of 2750-2200, and from there to the 2 year POC of 1170. Why you would...

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As previously mentioned, BTC is currently reacting to a Yearly Fib Pivot and the next area of volume with a small bounce. Pressure is obviously down and the loss of the 6400 area important. If it does not reclaim 6400 price should now move down to 2500-3100 for the combination of the Traditional yearly pivot and volume spike. Then 1200. If you honesty believe in...

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For all the rhetoric of crashes etc, just remember we are still in an inside month, we have gone nowhere! Trend is down on all timescales but that can all change in the next two weeks with the new month and the seasonal strength starting the timescales afresh. Don't get married to an idea. Also to note- this chart shows beautifully the importance of monthly...

chrisatom

DJI gapped down on Tuesday. Volume profile is for the year so far, showing high volume at 24700-24800 which was gapped through overnight. This area is second only to the POC at 25300 in terms of volume. This was done on a low volume holiday-shortened week. High probability this gets filled. Longer term outlook of lower low still remains, all timeframes down and...

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Bitcoin bounce from YFS1 pivot. Volume profile awful, slippery slope down to YP at 3100, where I will be a buyer. Could see a decent bounce up to the POC at 6500 from here but trend and momentum down. Don't be drooler or a HODLer, that isn't trading!

chrisatom

Point of control sits at 24800. We are still in a range moving between YP and YR1, with plenty of space to move either way so don't be drawn into early calls of crashes etc. We have returned and dropped below the POC which should now act as resistance. However 24200-25500 is a value area with a broad profile so strong moves both ways can occur.

chrisatom

Below 24k gives the lower low, but triangle and pivots drawing price to 23150 by year end. This will also retest the lows from the beginning of the year. New year brings new pivots, however for the time being we are in full timeframe continuity to the downside. That's yearly, quarterly, monthly, weekly, daily and hourly all down. Don't try to catch the knife until...

chrisatom

Simple rejection at pivot with price moving to lower pivot. Easy entries, stops and targets using major pivot points.

chrisatom

Tidied up the previous chart and added another active broadening formation. Move from yearly R pivots down to the PP, which is yet to be tested this year. Should make it in the final C wave down, if B is now complete, if it isn't it soon will be. Price closed on M DM pivot and at a Y Fib pivot so showing some support.

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Following from the smaller scale charts posted previously, weekly scale shows 2 triangles in action from outside bars. Missed the smaller scale one which perfectly tagged the recent low but i've done some more studying and almost completed the strat course, so my eye is sharpening every day. Larger scale triangle still has lower edge to tag, as previously...

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Still learning the strat from Rob Smith- check it out on T3 for a new way to look at price action. Outside bars creating broadening triangles on the hourly and daily, as defined by the strat. Exhaustion at the top and back into the range. Below 25007 puts it into the daily outside bar range for journey down to below 24122. Timeframe continuity up on the Monthly...

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ABC from one yearly pivot to another, still haven't adjusted any of the lines or arrows. Beware turnaround Tuesday and the potential to bounce as the market was defended on close, but until it puts in a reversal pattern rallies are to be shorted.

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Weekly view of the Dow with as seen using the Rob Smith RevStrat.