For submission and review to CryptoCoinNews. This text is protected and a product of CoinThis by @BeautyBubble, My thanks to TradingView for its magnificent charting interface and to CCN for the opportunity to express my opinions to your reading public as you review and approve my contribution.
As daring muse of the moment and China's darling BTCCNY:OKCoin in this session has the pair has wore on everyone's patience. For our analysis we must come to terms with price as a sentiment and that the USA in the throws of Black Friday, specifically Black Friday.
¥2321.85 started the session with the high at (a) Ruby, more specifically the 32EMA. Resting here is not how you want to start any position long or short. As the entire price area was a steam roll for scalps (a-b-c) had you followed and stayed within Cardwell's numbers being 40/60 base no doubt your scalping life would have left exhausted . So then as price takes its rest on the 96EMA (c) it takes it move and arrives at (d). The re-coupling of 8 / 12 well above (e) has price travelling south with organized spirit. Much like a sled coming down a snowy slope.
short gave us 21.76 which is balmy for those that understand how the Yuan contributes to your fiat. The better trade was taking short at (d) to 51EMA as it continued to play out in an organized fashion. It is the perfect pink lip (51EMA at (e)) for the season and when it is delivered to you just take it.
Staying in good stead with Ruby she would have kept you long from yesterday as the 8 never did have a 41 cross until (e). An early smijin of a (y/a) gave a wonderful signal that the trade was about to take a turn south, so releasing your long would have been a good call too.
Then we get into two drivers, one not so great, then we get the candles of a lifetime (c-d). For those nimble enough to take these trades long you were rewarded with a topping pattern. Only to return, as apex is reached and then explosive candles to the win.
As the move began to rest, anyone trying to calculate the flag, had to have remembered the fifty-one and in this atmosphere, we had the 8 / 41 / 51 cross for the short if you hadn't read the session high alert short annotation from my chart. Now we experience the horrors of full retracement and the news covering retail vendors which will not come into the stream until next session. As I send off to the editor, we are stopped in full "wallet tightening" as the 8 / 12EMA collide, no , and a weakening of any pattern. The 3 biggies, 41,51,96 all at (f) is a full twist in the making. Hold on to your turkey's fellas something is going to happen.
Be of good cheer, Sincerely, Beauty