Bitcoin BTCUSD Badly Drawn Boy Wow. Broken the upper parallel and now consolidating around where we sold. It looks like a buy from 8530 but must hold here or it's likely to fall away more, potentially back to 8410 at lowest so stops on longs from here need to be quite tight underneath. Bit slow to see the new fantastic parallels emerging...should have used...
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 Poor Bitcoin call late last night: a nasty little fake-out at 8144 buy point saw Bitcoin flip under the stop at 8140 for a small loss, but could also have triggered a short at that point with a stop above 8144 - also flipped - so two small losses, and more painful still, the idea was OK - it did what it was meant to do and rally, but we got...
Bitcoin Cash/ Bitcoin BCCBTC Making a little flag/continuation pattern: if a 'stock' is hot it will only make two touches on the bottom parallel before blasting higher - which means from here at current values. So what happens next will tell us just how 'hot' Bitcoin cash is right now. A buy with stop under 0.1770 tightest or below 0.1710 loosest. Can then...
GE Next Buy Points We never got a chance for a long down by the lows, but we did get the next one: the break above the small parallels channelling the tiny corrective move yesterday and Monday. It was a really good, painless/stress-free break too. So now, after GE filled a small gap (left on chart) it's coming back to support at 18.07 (tweaked by a couple...
GOLD: XAUUSD Gold/Dollar Play (continued) Neutral Here ahead of DXY break down Gold longs on back of DXY weakness need to be careful here. Still believe that the inverted flag formation on DXY chart (right) is a continuation pattern prior to DXY dropping down and out of the lower parallel down to 92.62. That will propel gold as high as 1297 at least and more...
Dollar Index: DXY So far DXY is displaying precisely the kind of technical price action you'd expect of something in the process of breaking down lower...the tiny continuation pattern with a bearish upwards slope, every move contained within the parallels that control this inverted flag formation. The dollar will try to rally from the lower parallel of the...
Bitcoin: Update next buy Points Clean Chart Summary: Overall dull right now but with a positive undertone, still, at these levels. We look to buy from lower, closer to 7531 if touched or, if very lucky, on any sharp fast test of the lower parallel which would also be viewed as an excellent buying opportunity, should we be lucky enough to see it later in...
Overall dull right now but with a positive undertone, still, at these levels. We look to buy from lower, closer to 7531 if touched or, if very lucky, on any sharp fast test of the lower parallel which would also be viewed as an excellent buying opportunity, should we be lucky enough to see it later in China/London on Monday. Unlikely, but it's Bitcoin. If...
Bitcoin: BTCUSD One quiet Saturday playing Bitcoin V Mon-Fri 9-5 job. Do the math. Whilst above 7717 key near term support the bulls are still in charge here. The opening in China will likely drive price down but it should hold up off the lower parallel and down to 7717. Touches here are buying opportunities with stops under 7000 line and if they produce pin...
Bitcoin Update Next Buy Point Follow the Chart A reverse head and shoulders is forming with neckline at the upper parallel. Next buy point comes only when neckline is crossed on upside with stop 50 points lower - upside measurement implied target is 8390 on any sustained break. The whole thing fails if 7717 - 7660 range also fails, for fall back to 7530,...
Bitcoin: BTCUSD The new long is going quite well, so far...the measurement implication of the pennant formation is 8079. However 7890 is the absolute high and profits should be realised now. Look to go long again on break above 7900 for move to 8079. Stops 50 to 200 below Careful here right on the highs can take profits here if day trading or raise stop to...
Bitcoin Update Next Buy Point Buy on move above the little trend line off the highs. Stopbelow the line by 50 points. Flag froming off the high with minimum 250 point upside measurement once the little dynamic is broken on upside
Bitcoin: BTCUSD Lots of opportunities to get long again off the blue support at 7426 and a few points higher before Bitcoin blasted higher, doing just what we needed it to without messing with heads at 7570. Now that's a green candle...worried we might see another blow off top as the great whale surfaces and blows, like last time, leaving a great spout from here...
Bitcoin Update BTCUSD So Bitcoin could be double topping - if it is it only gets confirmed by a fall below 7347 support line, with first clue a break below the dynamic support (not relying too much on the parallel yet until we can see how it responds when touched, if ever. The other way out from here is to break above the little parallel above it and make...
BITCOIN: BTCUSD Next Buy Points First off, that pin bar from the high today is threatening, now followed by red bull-engulfing candles, so am relieved we closed out just on the high of the day, so far at least...we were lucky. So now we're looking to buy again from lower down... First support is 7350-7340, and then 7300-7270. But now, as this is written a pin...
Bitcoin: BTCUSD High at 7538 (2 points short of target) Closed out for now...looking to get long again from lower now. Stopped out pretty much as expected last night at 7190, making 240 points on first position, 100 on second and nothing on the 3rd entry. OK but not great, with spreads, yesterday was one where we ended up working for the broker...selling at...
Bitcoin: BTCUSD See how the successful retest of the bigger controlling (until midnight est) parallel took 2 hours to occur at the 6150 level? This retest of the old dynamic support we were looking for around 6515-6500 range has taken an hour to play out as price danced either side of the line but with a low at 6503. It's always a tense period watching,...