Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business.
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Consensio: Shorter TF’s were threatening to roll over but they have all turned bullish
Patterns: 4h c&h / ih&s: confirms at $8,300 - $8,400 depending if you want to count the wick
Horizontals: R: $8,200 - $8,400 | S: $7,700 - $7,950
Trendline: In line with the 50 EMA (4h)
Parabolic SAR: D is $8,216 good number to keep an eye on
Futures Curve: Back in Contango, which is normalized and doesn’t necessarily signal anything as far as I know
Funding Rates: Back to a normal range of + / - 0.01%
Shorts: Bouncing from support
TD’ Sequential: Daily G2 = G1 | Recently closed Weekly G6
Ichimoku Cloud: Smashing through the thick W cloud. E2E target = ~$11,000. Absolutely crazy to think about!! Also getting bullish kumo twist.
Fractal: Daily at $6,170
Relative Strength Index: Falling below 70
Average Directional Index: Daily and weekly still show plenty of room to go. 4h is below 20.
Price Action: 24h: -1.19% | 2w: +40% | 1m: +50%
Summary: I am currently working on a two part Educational Post that I will be uploading soon. The first part is about my preferred methods for buying the dip and the second part is about Advanced Dollar Cost Averaging strategies.
It starts out by saying that I am 75% certain that the bottom is in. All that I need is a higher low, preferably above $6,200 and then have that confirmed with a higher high on the weekly chart.
It has been absolutely blowing my mind how bullish this market remains. As I outline in the posts coming up I do not like buying significant amounts at these prices, but implementing a dollar cost average approach with some, if not all, of your account can make a lot of sense.
Right now I am focused on the trendlines in the chart posted as well as the inverse head and shoulders that is forming on the 4h chart. I see a lot of people call for that as a reversal pattern and I far prefer it as a continuation pattern. Seeing a trendline below for support makes it all the better.
If we can support above $7,700 - preferably $7,800 - then I see no reason why $8,300 won’t fall. That has been strong resistance and it is also the confirmation of the inverse head and shoulders. I am interested in building a small long if that happens. Whether or not you take that entry is up to you.
The main reason I am interested in a position there is due to the lack of resistance that I see from $8,500 - $9,600. That is due to the horizontal areas of resistance that were established in 2018.
The ADX on the 4h, D and W says that this run still has room to the upside. The weekly TD Sequential agrees. One of the keys in trading is to identify when there is a strong trend and momentum vs exhaustion. The ADX and TD Sequential are the best tools that I have for this.
Therefore I am comfortable with a small position here, but I will be quick to take profit. Remember to wait for confirmation!
ETH is actually more interesting to me than anything else, and I'm surprised to be saying that. I try to separate my personal bias / feelings from what the charts are telling me. Stay tuned a post on why I have been buying it as well as my full approach, and multiple alternatives, to buying back spot to hold for the next bull run that I feel 75% sure is here.
Click here for my Comprehensive Trading Strategy | Click here for my Comprehensive Trading Process
Consensio: Shorter TF’s were threatening to roll over but they have all turned bullish
Patterns: 4h c&h / ih&s: confirms at $8,300 - $8,400 depending if you want to count the wick
Horizontals: R: $8,200 - $8,400 | S: $7,700 - $7,950
Trendline: In line with the 50 EMA (4h)
Parabolic SAR: D is $8,216 good number to keep an eye on
Futures Curve: Back in Contango, which is normalized and doesn’t necessarily signal anything as far as I know
Funding Rates: Back to a normal range of + / - 0.01%
Shorts: Bouncing from support
TD’ Sequential: Daily G2 = G1 | Recently closed Weekly G6
Ichimoku Cloud: Smashing through the thick W cloud. E2E target = ~$11,000. Absolutely crazy to think about!! Also getting bullish kumo twist.
Fractal: Daily at $6,170
Relative Strength Index: Falling below 70
Average Directional Index: Daily and weekly still show plenty of room to go. 4h is below 20.
Price Action: 24h: -1.19% | 2w: +40% | 1m: +50%
Summary: I am currently working on a two part Educational Post that I will be uploading soon. The first part is about my preferred methods for buying the dip and the second part is about Advanced Dollar Cost Averaging strategies.
It starts out by saying that I am 75% certain that the bottom is in. All that I need is a higher low, preferably above $6,200 and then have that confirmed with a higher high on the weekly chart.
It has been absolutely blowing my mind how bullish this market remains. As I outline in the posts coming up I do not like buying significant amounts at these prices, but implementing a dollar cost average approach with some, if not all, of your account can make a lot of sense.
Right now I am focused on the trendlines in the chart posted as well as the inverse head and shoulders that is forming on the 4h chart. I see a lot of people call for that as a reversal pattern and I far prefer it as a continuation pattern. Seeing a trendline below for support makes it all the better.
If we can support above $7,700 - preferably $7,800 - then I see no reason why $8,300 won’t fall. That has been strong resistance and it is also the confirmation of the inverse head and shoulders. I am interested in building a small long if that happens. Whether or not you take that entry is up to you.
The main reason I am interested in a position there is due to the lack of resistance that I see from $8,500 - $9,600. That is due to the horizontal areas of resistance that were established in 2018.
The ADX on the 4h, D and W says that this run still has room to the upside. The weekly TD Sequential agrees. One of the keys in trading is to identify when there is a strong trend and momentum vs exhaustion. The ADX and TD Sequential are the best tools that I have for this.
Therefore I am comfortable with a small position here, but I will be quick to take profit. Remember to wait for confirmation!
ETH is actually more interesting to me than anything else, and I'm surprised to be saying that. I try to separate my personal bias / feelings from what the charts are telling me. Stay tuned a post on why I have been buying it as well as my full approach, and multiple alternatives, to buying back spot to hold for the next bull run that I feel 75% sure is here.
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