mljones

mljones

Looking like it might make a choppy WYXYZ path to the 2 point at 8600 using symmetry. If I'm feeling adventurous I might scalp the final X point short tonight but only with very small size and very small risk since on virtually all time frames except that I am highly bullish. Mainly I'm looking for the Z point which is also the 2 point. I might leave a limit...

mljones

Keeping an eye on an entry to catch a 2 wave near 8600. This could be the start of several cascading impulses so is worth being near the computer when it approaches.

mljones

It's at the prior 4 point which is a high probability bounce zone for the c point. If you had a short from the 5 this would be a great place to tighten protective stops because it's got a strong chance of snapping back with a short covering rally which will form the 1 wave of the next leg upward. This is a bull year in the 4 year cycle so shorts are actually...

mljones Updated 

I have a bullish short term bias on this, this is a good RRR zone because it's looking like 8550 or so could be an accumulation zone. The low volume it printed on that test of lower prices suggests smart money is accumulating there with limit orders. I'm not staying up all night to trade this but I have my eye on the green support line for a low risk entry.

mljones

I just scalped a small bit long on the AB leg on this and bailed when I saw a very large seller flashing size in Bookmap. I don't really like trading whaley coins like this where it's clear that even a medium size whale can knock price around by spoofing the bid ask ladder. However at the moment it's the main mover on binance futures so it's on my watch list. I...

mljones Updated 

This is a potential short covering rally path based on a very tiny amount of data, just the shape of what might be the 2 wave. It's just a sketch to be filled in as it goes, but I would be interested in some scalps long on the 4 wave areas.

mljones

Shorting from resistance region will be my intraday strategy, when it get back to the bottom of the pitchfork trend line that matches the old 4 point region will be looking for accumulation pattern to go long. Path back to support will be choppy and hard to trade since it's going against the overall long term upward trend. Selling the retests of top of the day...

mljones Updated 

Projecting prior accumulation line with current triangle shape looks like 1600 will be area to look for buyers to support price. Will be watching for double bottom shapes in that area, not buying without additional confirmation. There's not really a good elliot count from the top to work with so this is just a "wait and see" chart.

mljones

This is where short term weak money is shorting on small time frames. It won't take much to trigger their stops and send it higher. I might scalp a little short after a rally but only intraday since at this point I am extremely bullish on all larger timeframes.

mljones

If you're long term on cryptos this is one of the worst places to sell because it's sitting right on top of the trend line defined by historical miner capitulation. People waiting for 3k are going to be disappointed. This line also expects the support region to be at the old all time high in April 2021 which means it will probably reach and exceed the old all...

mljones

CL had been orbiting 56 for a very long time and has finally broken from the range to the downside. Expecting new support around 43 and good day trading entries to be on tests of the prior support region which is now resistance around 52.

mljones Updated 

This is a spot where the elliot count would expect the C point of the ABC after the 5 wave impulse to show its presence with some obvious bullishness. Note that this C point is NOT confirmed yet, it's still just a potential region. I'm mainly in HODL mode and expecting a pretty big run up before the halving so I am just watching this from the sidelines. I am...

mljones Updated 

It will soon be unprofitable for many miners to produce more BTC and this has been a great signal in the past. I'm watching this pretty closely for a crossover.

mljones

Barts (AKA bull or bear traps) are a common pattern in cryptos. The OBV indicator can be useful for detecting Wyckoff style accumulation or distribution. It's especially useful for Barts which have a very flat section of price action which makes the OBV divergence very apparent in some cases. If you see a flat zone that looks like a potential bart, track it on a...

mljones Updated 

BitFink posted a very clever way to use RSI divergence on long term BTC to find tops and bottoms of the macro 4 year structure: I was looking at using this on shorter time frames and it seems like it's especially useful for finding the exit in conjunction with an elliot count. In this example once you have your 4 wave candidate you can look at the symmetry on...

mljones

CL continues its long standing orbit of 56. For daytrades buying pullbacks during upward trends is probably going to be a good strategy. Previous uptrends back to 56 have been a bit choppy so looking to buy double bottoms that re-test the low of the day might also be a good intraday strategy. I would not be buying the high of the day unless it's a very specific...

mljones Updated 

Adjusting projection for spring/summer top due to fact that halvening will affect it. Previously in 2016 there was a big peak 22 days before the halvening and lots of opportunity to get in at lower prices. Using ghost bars also maps to about the same $17k price I had before. I am expecting a parabolic move up into the mid teens and will be scaling out a bit. I...

mljones Updated 

2020 seems very bullish but it is actually only at the FLAT stage of the 4 year cycle. If you look at the opening price of each year you can find which part of the 4 year cycle we're in. Year Open price Increase Stage Trade End Of Year? 2012 5 Buy 2013 13 289% BULL Buy 2014 732 5529% SUPERBULL Sell 2015 321 44% DUMP Buy 2016 431...