The January Barometer is a statistical phenomenon that looks back at the last 50+ years of the SPY's history and states that (as of last year):
A POSITIVE close in January has a 83% chance of a positive year
A NEGATIVE close in January has only a 65% chance of a positive year (we just had this happen)
A POSITIVE close in January has a 70% chance of a...
Gold shows a clear up trend.
According to Elliott Wave, we are in wave 5. If you look at the chart, wave 1 of wave 5 is created and broke the resistance then backed below that to create wave 2.
Based on the formula 0.68% already wave 2 is created and it gets ready for wave 3 which will move to 2146.28.
Then we will have wave 4 which will pull back to...
January has historically been one of the worst months for Bitcoin, thus extreme caution should be taken on the long side as I have mentioned earlier.
Here we can see the early January profit taking and selloffs since 2016.
Since Bitcoin just crashed around -20% in 2 days, this year might not be any different.
The US Dollar has also been gaining upwards...
Since the new year is upon us, I thought I'd take a look at what has happened in the past during the first full trading week contained in January.
So, what this means is, the date at which a new weekly candle first starts in January, thus you see the dates marked are NOT 1st January of each year. I measure from the prior day's close, which is the same as the open...
SXP has been experiencing a significant downtrend since it's Soaring August high of almost exactly $5. Swipe has been one of my favourite alts since release as it has until the last few months had crazy volatility and gives a VERY healthy yield return for hodling (I wonder why the sell walls get so clogged up on this chart... hmmmm????)
We look to be nearing the...
If this channel that I have proves to be consistent with previous 2017 bull pattern then I am giving two points as possible short term highs and lows. For the month of January I have a possible high of over $34k and in March we can set our first lower high at around $21k going into the first quarter of 2021.
Overall, I had a break even but productive month in terms of education and trading development. Some notable trades were CGC long, INTC long, NIO long, CRSP short, and FTNT long. Although two of those trades had stopped out early, overall execution and lessons learned from those trades were valuable. I noticed I started off this month pretty sloppy, however I...
As some of you know i bought nat gas UNG at end of Day Jan 23rd based on my own hourly models.
My models suggest a peak in natural gas or optimal sell date on Feb 28 2019
brschultz aka "markettimer777"
The market is melting up and it seems all so familiar. Realized it's doing the same thing as last January. Every stock and even foreign indices has the same pattern as last January including STZ tanking today (lol).
Mutual funds and 401k buying into the market at the beginning of the year. Stay out of short positions for the next couple of weeks.
Hello. I'm back again another trade today.
As per my system, EURUSD will go down for 30 more pips, which we'll grasp for sure.
Please, guys, stop asking to explain my system. You don't know how hard I worked for it because I can't just sell it out like that. I'm sorry.
As the chart is pretty self explanatory I will be brief.
As we all know the one true "pillar" of TA that has stood the test of time is that resistance becomes support and support becomes resistance. Almost always. The higher the time frame, the more likely the price action will follow this rule. Based on this, I have drawn several trend lines that lead me to...