Both trend line averages will need to hold for a bullish continuation!
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Yes the average looks like it will hold and this will be a strong bullish continuation. Too soon to be sure but the small waves indicate a fast consolidation period and it should turn around nicely.
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It will test the 200 and don't worry too much if a shadow goes through. I'm seeing some good pricing on exchanges here. could be best entry point. if the 200 fails on a second candle and it goes through then we can reconsider our opinion.
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moment of truth... it's a true test of my nerves every time... lol
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looking good.. nervous but happy emoji...lol
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printing a tiny tiny tiny double bottom on the 3 min chart... yay...
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uh oh
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just messing... lol... looks okay still
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okay I have to go back to my regular stock trading account for awhile my Canadian cannabis stocks are all rallying and I don't even know where to start... let me know if anything crazy happens like a bullish breakout... any minute...
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click on the chart for my notes
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So I'm hoping everyone saw this chart and was along with me. I set a sell order at 1275 and went to bed. This morning my order had filled and my account is up nicely. You should be all OUT of BCH now
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There was a moment last night I see when it tested some dangerous territory but since I was either out or sleeping I did not see it. I was confident enough to set it (my sell order) and forget it...
We should all be in cash now sizing up a new opportunity. I have just a few coins in BTC and only because I think there will be a final blow off rally. It has made a new low so I could be wrong...
We should all be in cash now sizing up a new opportunity. I have just a few coins in BTC and only because I think there will be a final blow off rally. It has made a new low so I could be wrong...
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If anyone has an idea for a coin that is about to rally then please let me know and I will provide some guidance. Okay thanks everyone and I hope you are all having great success in following my charts. Graham.
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This was the chart i was talking about
This was the chart i was talking about
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posted it yesterday... okay I hope everyone saw it in time
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Just so you all know I use Bitfinex to do my charting. If you are on another exchange it could be slightly different exit entry points so you will have to figure that part out.
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There is the potential of on final blowout wave higher here yes... and it does seem to be consolidating here. These usually present as a false breakout and that is what I am seeing. For those brave adventurous types you might want to hang immediately but these lofty area plays can be risky that turn will be fast and dramatic
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Questions about a retrace I can tell you normally after three waves it is a bigger retrace down to lose half value or .5 fib level and in some cases even lower to .6 range so you will need to keep that in mind as you plan exit and Re entry strategy
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For me I'm happy with my gains. I just got back from a two week shift at a mining camp and I have a young family who need my attention. I'm not able to watch my trades so closely so I just place my average entry and exit trade orders to ensure they are filled.
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Caution here. Looking more like a false breakout
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Really could go either way. Unfortunately Im in Vancouver shopping with my family and only have my phone. If I could do some analysis I could be of help.
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Great news for those of you who hung in there for the extra BCH rally. That was awesome. Me, I've been making a few trades on my phone today and added BTC at 6100 to 6200 range and it looks like it will have a decent rally here. Maybe not a new top though so I'll be watching closely and putting a chart together in a few hours when I'm at home.
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Time to get re positioned?... that was truly insane! If you were brave enough to hold on you just made a killing... wow. Hats off to those with nerves of steel. I parted out too early and there's one lesson I seem to need to keep learning it is selling in thirds... and buying in thirds. That way you will maximize gains and lower entry point prices...
So where do we go from here?
So where do we go from here?
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By the time I posted this it was basically already gone...
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Comparing the 50 day average pricing BCHUSD and BTCUSD
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After the next 48 hours or so, BCHUSD may consolidate sideways to reestablish the 50 DMA at somewhere between 900 - 1100 in my opinion. After that it will be ready to blast off to the third rally to approx 4000 area
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BCHUSD failing to regain control on the 1 min chart
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The 20 MA and the 50 MA must find support on the 200 before a reversal can occur