Solana has finally reached the target I identified back in July by looking at Ethereum's structure from 2016 to 2019 and using a simple Elliot Wave ABC correction. This bottom is at the lower end of the green box like I suspected it would be and we also have the RSI for Solana dipping below 30 by a fingernail to hit 29.8. This is the lowest the RSI has been for...
TLDR: I waited over 4 months for the trade to get to the point I would put a short on. The next move is to short to the buybox. See the linked idea for more context
Introduction
I have spent a lot of time looking at blow off tops and parabolic moves over the last 450 ideas and 5 years with the goal of being able to benefit from these natual phenomenon of mass...
I have color coded where I see the similarities in Solana's current price action and Ethereum's historic price action from the previous bull run. I think the patterns and seminaries are pretty clear and while I see a lot of upside potential for Solana in the long run and I see lots of coins staged to begin their uptrends now I see one more leg down for solana.
I...
It is always good to have a plan. Even better if you have a way to stick to it. Nasdaq has taken quite a beating and people who are worried about inflation, stagflation, recession and depression want to know what to do. Well, I can't give financial advice to others, but I can plan for myself. Gold hasn't moved a lot and that has some people concerned. I think...
Total2 has been chopping sideways for two months and has gotten a tad boring. Individual coins have done some pump and dumps but the net market cap is sideways. In short order, and by that I mean in the next 2-4 weeks Total two will be at a decision point where it will begin to resolve itself bullishly or bearishly and I hope to be prepared either way.
My main...
The trend has obviously been up and bullish but the chance of a double top remains real until it has passed. There have been many times over my trading career where I did both a bullish and bearish scenario "just in case" and was biased in the wrong direction for my initial position. Sometimes I did a good job switching my trades and some times not. But really,...
I have said this many times: never draw a trendline when you can draw a channel. Also I have said that symmetrical triangles break down or up into wedges or ascending/descending triangles. Now you might glibly say "This_Guhy said it might go up, or it might to down, wow, so brave"
But it isn't that it goes up or down but how it goes up or down with some targets...
The Volatility stop is a very simple way to track areas of support and resistance and when combined with the Multiple Time frame VSTOP we get some indicators taht do some autocharting for us. Throw on some simple moving averages to help with timing trades with retests and I have hopefully developed a system that will help me time my entries on leveraged trades...
Previously, the bulls have won the last couple battles pushing hundreds of pips against the trend. Price is nearing 2 forms of structure, one being the top of the down trending channel and the other being previous resistance. We will have to wait and see how price reacts to these structures to take out next position or close out current longs. Regards of the...
