Good morning traders. I hope my continued insistence on risk management over everything else has gotten through to everyone. Yesterday's surprise news -- the Binance "hack" -- was a good example of the importance of risk management. Price dropped just over $200, as a result of the news, which liquidated many traders. The positive side to this is that Binance will...
Good morning traders. Bitcoin price reached $5970 yesterday evening and, in typical retail trader fashion, now people are starting to think about entering. Unless you have a lot of experience and understand/employ strong risk management, it makes little sense to enter right now just as price is entering overheard resistance. There's too much risk associated with...
Good morning traders. We had a great weekly close and, so far, have seen the previous supply zone flip to demand and support price as I mentioned was most likely to happen. Price has continued to consolidate between the top of the demand zone and the top of the ascending channel, but upward overall. However, we need to see some more significant price appreciation...
Good morning traders. Price has now hit the three pattern targets and moved above the November 18th swing high. BTCUSD Shorts and Longs, both, dropped on the overnight move up but Longs have already started to recover this morning. I mentioned that Shorts were printing a daily bearish divergence and it seems to be playing out at this time. Daily Longs remain just...
Good morning traders. Price continues to grind higher as expected with short sellers rigorously defending their positions above $5400 and $5600 but demand remaining relentless. As a result, price has now pushed through the blue TR's resistance. Having hit our first target, multiple targets still remain based on the patterns formed over the past week or so. The...
Good morning traders. We saw a good daily candle print yesterday and are on our way to possibly confirming the checkmate pattern that I have been discussing. Ideally, I'd like to see another good daily candle close today, preferably at $5400 or higher. We had a good weekly close, keeping price within a narrow trading range and recovering the previous week's loses,...
Good morning, traders. It appears that we are getting some action this morning as price popped out of a few patterns and is testing the resistance of another. Tomorrow is the monthly close. This movement is not unexpected at all if you've been following my analysis. Price action and volume analysis across multiple TFs have suggested that this is the most likely...
Good morning, traders. We have had a rather uneventful weekend which has been upsetting to many as the market has not provided direction. Tether Bitcoin pairs continue to print a premium over USD Bitcoin pairs. CME futures printed a gap at $5500 which will need to be filled, however this could come after price moves down first. Bitstamp has a 1H gap around $5400...
Workday has been in a trading range since February. It recently broke through the resistance level at the highs. It now must sustain the price gains above the highs to form a new support level.
Good morning, traders. Imagine thinking price hit the high and shorting already. Or worse yet, remaining short and not buying the dip yesterday. Of course this is only a sad predicament if you believe price will head higher before heading lower. I continue to remain long at this time. Nothing has changed, in the larger picture, to warn me that I need to exit my...
TWTR gapped beyond the trading range highs after a strong earnings report. If TWTR can hold above the prior trading range highs, this will be a completion pattern. Note the compression of price near the highs of the trading range prior to this big gap.
Good morning, traders. I see a lot of traders are very disturbed by this small move down and, as a result, reversing their calls this morning. Yet it's exactly what I said was likely to happen. With the break out of the 4H TR being the SOS, the odds were high to return to the TR and test it as support to complete the BUEC/LPS before printing another, higher, SOS....
Good morning, traders. If you are with us in Discord, then you know that Bitcoin's move over night hit the third target that we had based on the Dragon harmonic pattern. It also hit last night's triangle target and a bit more, while sitting up the golden cross. As long as price remains elevated through the daily close, that cross should happen. This Show of...
Good morning, traders. If you watched my last video update on that other social media site that Tradingview won't allow me to mention, then you know that I had two possible symmetrical triangles that may be printing on the daily TF. There is the immediate one that I drew on last Friday's TV update, but then I discussed the possibility of a slightly larger one...
Hello world. A little Ta, we got a golden cross, from EMA 20, and MA 50, some strong updays, wait for a little pull back, and watch for the long side. Good RR, remember earnings 1 may AMC The stock, begin to perform better then S&P 500. And it did broke the trading range.
Good morning, traders. Many were scared off by yesterday evening's little drop. As we can see, price bounced just above the pivot closing above the 21 EMA once more. The short double bottom target, of the swing high denoted by the purple line/R1 pivot, remains at this time. The 4H Stoch RSI is nearing a bullish cross in oversold. RSI remains bullish at 56.8. The...
MCD has a pre earnings run underway. It has broken out of a long-term trading range to a new all-time high. The technical indicators are diverging from the price action, indicating the rising risk of a retracement due to profit-taking.
Good morning, traders. Price continues to push up gradually. Our targets remain as shown in the charts. As mentioned yesterday, the current TR as drawn on the daily appears to be reaccumulation with an uprise with an immediate target of $5910/15 based on the height of the TR, on the larger TF. The 1H chart has price printing an ascending wedge as it looks to...