Yesterdays post we had touched $4350 and I was personally looking for some consolidation as the 4 hour chart was over extended so I had scaled out of 80% of my position and potentially looking to reload on the consolidation. We reached $4365 and then consolidated back to $4078 (so about a 6.5% pullback). Perfectly healthy and expected and then BTC broke out over...
Bitcoin update: The break out to 7K is now in progress. We issued a swing trade idea to go long which triggered around 75 points ago. Now it is a matter of waiting for our target (lower than 7K). As long as the newly established minor bullish trend line stays intact, it is within reason to see the low 7Ks relatively soon. Compared to other "experts" who were more...
Ok gang, jumping off last chart. I discussed the bulls re-entering the original zone of $6345-6493 we had traded within for 2 weeks but the bulls were struggling to maintain the lower portion of the zone. I was scaling into my positions at that time to watch for bulls to form another higher low compared to $6293 and then ideally give us a higher high which would...
After nearly 22 months of lower lows, GE is finally showing some promise. It's going to be a long road. At this scale expecting 27.77 within 1 year of this publish.
Jumping off yesterdays chart we saw the pattern the bulls needed! Yesterday I posted: "They are currently back and battling the $6400 area. In order for the bulls to regain the upper hand, they need to form a lower high compared to $6655, a higher low compared to $6320 and then look for the higher high" From there we saw the bulls travel to $6537 to give the...
GBPJPY has been printing higher highs, and we are currently entering a pull back. Based on the daily time frame, we are above the 50% retracement level, which could now act support. We also have the 2hr support line, and we are trading above the cloud. Next targets are at the fib retracement points.
Price has broken out of its bullish channel. We are now seeing price consolidate around the 87 mark. We have moved above the 50% retracement level from monthly highs of 91.58 Price also has a newly formed support line which has been respected by the bulls so far.
Bestimate projection for Dow going into August, tied with October for weakest month of the year. Coming off a strong rally in July, odds favor more volatility. Dow appears to be in a corrective, reactionary wave cycle: 'A' wave from first top 07/26 ran down to the flash crash Thursday 08/02 (Label 'W' of WXY reaction). Notice labels for larger primary trend are...
BTCUSD update: This market has retraced into an attractive support area. As price action stabilizes, it can be setting up for the next leg higher. This is the location where a breakout offers much more potential compared to a break of a high. At S.C., we have been tracking this retrace carefully. We have also issued and adjusted swing trade orders in markets...
BTCUSD update: Inside bar is established just after the 8500 peak. This points to the beginning of a retrace but how far? The most common mistake is to attempt to short this market because of the perceived bearish potential. It is a mistake because the momentum is clearly bullish. Probability favors shallow retraces and supportive levels. This is a time to be...
BTCUSD update: Short squeeze straight to the 7381 resistance level. Impressive move and the kind that has not been seen in some time. The move serves as the confirmation that a broader recovery is in progress, but the high is no place to buy. The objective now is to identify where the next buying opportunity is likely to materialize. As I wrote in my previous BTC...
$1237 – $1247 is the key area of support on the weekly chart and we are likely to see the Gold price got pushed up from this support level, maybe due to profit taking from the recent Short Sellers. Zooming into the 4hr timeframe, the down-trendline has been broken and the Gold price has entered into the Buy Zone. Not only that, the lower lows and lower highs...
BTCUSD update: Inside bar formation leads to price spike into the 6431 to 6614 resistance zone. This should not be that surprising if you have been following my recent articles on S.C. and on here. The bearish trend line which was compromised in this move is the first confirmation that a broader bullish move is in progress. It all started with the pin bar 8 days...
D1 - Finally price is at the critical zone that we were waiting for. We also have bullish divergence. H4 - Aggressive entries with H4 divergence are welcomed. For more conservative approach we need to see trend line breakout, or for the safest approach, wait for the price to create higher highs and then we may start looking for the buys.
Now that price came to our major structure levels on the daily we seem to be having a hold.This indicates a potential buy for as confirmations of double bottom,higher high higher close and pullback have occured I'm entering next bar market on this one.
#NULSBTC is about to complete a falling wedge. Strong support is found right above the 250EMA. We are currently touching the trend line and the bottom bollinger band. This paired with a HH on Stoch pointing upward indicates a strong uptrend. Bit of volume coming in. Targets are the blue lines
After nearing closer and closer to 1300 gold sharply pulled back resulting in a spinning top weekly closure creating a new LL with lh EXPECTED AT 61.8 POTENTIALLY 1340'S