Earlier this week, AUDNZD provided a quick short opportunity after a minor pullback. After hitting a price target perfectly, it has pulled back to the 0.618 Fibonacci level. This was also confluent with the 89 EMA, which has proven to be a prominent resistance/support with this pair in the past. The third confluent factor is the fractal resistance occurring at the...
Yesterday we looked at the weekly candle as it was getting ready to close and noted that there was still plenty of room left on the downside. One of the most common problems I see with inexperienced traders is the unwillingness to bet on the trend. A common perception that I am seeing is that the price has already fallen too far to justify the risk:reward of a...
Yesterday we were waiting on the breakdown of support which has held us up since the beginning of February. I had an order set to open a short on BTC as soon as a new low was created below $5,820. My order triggered a few hours ago at $5,819 and the price quickly reversed from there. We are currently re testing $6,200 for resistance and I am viewing it as a...
There is a big change of entering the 5200/4000 but just keep an eye on the chart as always... And can I ask a question? "How sold all his coins and tokens 8 hours ago?"
Yesterday we moved the stop loss down on the short positions for the first time. My short on ETH:USD and ETH:BTC has been open since 6-5 and it is a relief to be able to move the stop loss into the money. I use Bill Williams Fractals on the daily chart to manage my stops. Today we are waiting to see if the major area of support will breakdown below $5,945 and...
Yesterday I pointed out the resistance from the 12 period EMA on the daily chart, the double top on the 4 hour chart, the resistance cluster coming from the trendline and horizontally, and I also noted the shooting star and hanging man candles on the daily chart. Needless to say a strong sell recommendation followed and as usual I lined out exactly how...
Over the past 10 days I have been calling for a retest of the 12 period EMA on the daily chart. Any time that we get too far away from that moving average a reversion to the mean is very likely. I mentioned that it could come in the form of a sharp bounce, or it could come through days of consolidation. The latter option appears to be the preferred route....
On 6-11 in the 106th daily update I said that the price of Bitcoin was oversold and said that it is very important not to chase after a move of 10% in less than 24 hours. That was primarily based on how far we had fallen below the 12 period exponential moving average on the 4 hour and 1 day chart. I said we would either get a bounce to $7,000 - $7,200 or see...
Over the last seven days I have been calling for a reversion to the mean after overselling on the 9th and 10th. For me that means a retest of the 12 period EMA on the daily chart. That is where I expect to see strong resistance from the bears lead to an eventual breakdown of $6,000 support. I have been holding onto my short since 6/4 and am still feeling very...
EURJPY has broken out of a consolidating range. It has also crossed below its 89 EMA, having rejected it previously. The Williams Alligator is beginning to open up, even crossing below the 89 EMA. This is all in perfect conjunction with a Fractal resistance appearing below the Alligator. The target prices are based on historic levels of support. SL: 128.5 TP1:...
AUDNZD has crossed under its 89 EMA and retested it. A Fractal resistance has formed below the Williams Alligator as well as a trend line. The first price target is aiming for a recent level of support while the second is aiming for a major 2-week support. SL: 1.07595 TP1: 1.07060 TP2: 1.06700
On June 11 in the 106th daily update I said that the price of Bitcoin was oversold and said that it is very important not to chase after a move of 10% in less than 24 hours. That was primarily based on how far we had fallen below the 12 period EMA (teal) on the 4 hour and 1 day chart. I said we would either get a bounce to $7,000 - $7,200 or see days of ...
Over the last week I have been wanting to see the price return to equilibrium after being oversold on the 6/9. For me that would require a retest of the 12 period EMA on the daily chart. The price could continue ranging between $6,300 - $6,600 until running into the moving average or it could spike up to $7,000 which is where it currently waits. That is...
Going Down IMO Next Stop $6350ish Stop market SELL Order @ $6495 Gud for at least 110 points Stop market BUY Order @ $6535 just in case bitcoin changes its mind.... Gud luck to us All 1 hour & 4 hour candels
Yesterday I was watching closely as the price of Bitcoin was being squeezed in between the 12 and 26 period EMA’s on the 4 hour chart. It is common to see the price consolidate on top of the shorter term EMA and below the longer term EMA. That is essentially what Bollinger Bands are illustrating when they tighten. Usually a bullish crossover will follow...
Two days ago I made a nice call that had me feeling very prepared for the price pump we got yesterday : “I firmly believe that a short term bottom lies somewhere in the range of $5,964 - $6,123. From there I expect to see a 1-7 day rally that retests the short term daily EMA’s (12 & 26). If not currently in a trade then I strongly advise against opening a...
Today I would like to start with a quick overview from the last couple weeks. I am not one to toot my own horn, but it seems like that is the only way to gain credibility in this space. 5/28 was the last day that I was bullish. I recommended a short term buy at $7,250. That was based on how far the price was from the 12 & 26 period EMA ’s on the 4 hour and...
Over the last couple days I have been calling for a reversion to the mean. I expected to see days of consolidation or a quick bounce back to the 12 & 26 day EMA’s on the daily chart. In yesterday’s post I outlined 4 potential entries. Two have yet to come to fruition (short BTC after bounce or consolidation) and the other two are already well into the money...