For novices out there, Pump and Dumps are NOT created to benefit you. It's a total scam, and you should never fall for this. The leaders of these P&D groups decide on which coin they are going to pump MONTHS in advance so they can buy the coin at a lucratively low price. Then, they "announce" what coin it is and when their thousands of followers go and buy those...
Bitcoin Weekend Update Lost the plot overnight with Bitcoin. It lost trck of the parallels but hasn't fallen away again to the lows but instead has made a good right shoulder at 13700 and has bounced . That is really positive overnight price action. In the process Bitcoinn has formed a reverse head and shoulders with the neckline at 14874 and a minimum upside...
ETHUSD A fabulous weekend has developed into a terrible week for the Alts. This should create another fabulous buy opportunity over the coming 12 to 24 hours...and potentially lead into another good weekend ahead...if we can pick this up at lower levels without getting stopped out in the process. First support is nearby at 630 which if broken now should lead...
Bitcoin: BTCUSD Trading The Breakdown The massive head and shoulders top formation that has been building since the weekend highs has been completed today. Though quite loosely defined and with two potential neck-lines lying 300 points apart at 15814 and 15509 the pattern is undeniably bearish for the next 24 to 48 hours by look of the chart. But in very near...
BTGUSD BTG took over from BCH at around 11pm est - as BCH topped out BTG took on the baton and ran higher and higer for the next 5 hours as BCH headed back south. The patterns are similar on both charts, both tracking within a series of parallels, a sell off the top pair and and a buy off the lower pair. It's ahving a problem at 305 and looks like it has to...
Bitcoin BTCUSD Update If you got long again at the ridiculous hour of 11.30 pm est you're hard working and deserve your 400 points reward. Weirdly the crypto chat room was quite quiet with a guy from London waiting for the BCH burst to top out so he could bail out and fade the consolidation. London's finally catching on. 2018 will be so fascinating and fast...
Latest Update 21.30 GMT We can by on a break of the dynamic holding back price off the highs - stop below the line...hope for a good clean break with enough powwer to break above the highs...if you go long just be careful at the highs....great if we see green candles beat it there...if it stutters and halts close down for small win and go again if and when...
BCHUSD Update Trading Strategies Today We were short from 1346 back to 1245-1228 range for a quick 100 point win but then reversed here according to the plan (top left) - we were looking for a wipe-out to 1286 and hena bounce back to the line above it on chart and then the big collapse. It went OK, but the low at this point was 1274 (so stops which were way too...
ETHUSD Update Neutral in near term but still bearish whilst trapped under 440 Very interesting price action here: having sold at 468/9 we were waiting to see if ETH could hold up above the lower parallel...it tried so hard for a few hours but eventually it succumbed...failed breaks: remember the pyschology gone over in past posts...day traders are out almost...
XAUUSD Gold Prepare for Big Short Soon Now Gold did get the brief bounce expected up to the first target at 1286 witha spike high at 1289 before recoiling again. Another 'reluctant' rally. Now it's back on support at 1274 and this time DXY is holding up and trying to turn around to the upside. It has not broken lower, but so far double bottomed - conflicting...
BTGUSD Next Buy Points Well it got to 304, not as quickly as anticipated, taking a whole 20 hours or so to reach the upper parallel/target for a 34 point win in a tricky market, 2 points hy of the target, but the hit on the parallel was so good I'm claiming this one as a victory, imperfectly perfect, is all. So the next buy point here is around current...
GOLD XAUUSD Strategies for both sides of market Gold is now delicately poised - to say the least. Am closing out the long at 1274.75 for just under 4 points as it looks like it can come back again to the lineof last support at 1270. This entire pattern all month looks like a continuation pattern, prior to gold crashing back to 1203 level. But gold has been...
BTGUSD BITCOIN GOLD DOLLAR The rally today is thin and grindingly dull, but it's steady. Better to be long with a stop under the little uptrend for the day than flat. But if at any point the day's supporting line is broken it will likely force price down 25 to 30 points to 340-330 range where it becomes a buy once more. This thing has already lost the...
Litecoin/Dollar LTCUSD Litecoin Dollar LTCUSD Testing important resistance at the old highs and so far standing up well. Once again it needs buyers here to push it out of the reach of bears at current levels. Litecoin found buyers exactly where it needed them and has since pushed 5% or so higher. The longer term chart (left) shows price straining against the...
DASHUSD DashDollar We got stopped out of the long from 305 at 599 which was cruel considering it bottomed at 596. Just bad stop management - should have lowered it to cover the lower parallel but didn't pay enough attention in truth, so busy with those other 3 favorite girlfriends to pay this enough time. Bad. And got punished for that lapse. Back on the...
ETHUSD Neutral but underlying still strong whilst working inside the flag Won't quit. It's spent the last few hours consolidating gains by hammering out another flag. Two strikes on the lower parallel shows this is still 'hot'. A buy of the lower parallel but close out at the upper parallel if day trading. A break above the upper parallel can be followed for...
Bitcoin: BTCUSD Do the Math another way Whilst Bitcoin gyrates around and waiting for a clear pattern to emerge - no hurry - old bull mode, not young one - waiting for dust to settle - here's a review of yesterday's tough-won 2% gains. Today ETHUSD has been clearer, so wrote on that in interim. It's just a prettier chart right now, and more profitable too today,...
Bitcoin: BTCUSD Picture at Thanksgiving. Say thank you to the great architect of the universe, whoever that might be this Thanksgiving. Thank him for Bitcoin. And run a stop as Bitcoin can still flip down one more time yet.