Good morning, traders. Binance completed the update to its platform overnight and Bitcoin price continues to feel pressure. With CBOE expiry later today, traders must remain vigilant if they are interested in trading this area as we could likely see price pop up at/near that time. However, we may see more movement down toward $6100 first. Notably, 1D OBV has...
NetApp was one of the earliest companies in Cloud Technology. It had a stellar rise in price in 2018 but is now at risk of a topping formation. Data Storage is still a growth sub industry of the Cloud Industry. However, NTAP has gone beyond its fundamental values for 2019. Support levels are on the chart. Bounces should be expected around these price levels. This...
Always a late reporting company, HD reported today before the market opened. HFTs were ready to gap the stock in the direction the algos perceived earnings. The chart patterns were setting up for a negative reaction. The stock is in the lower area of its trading range that has similarities to the S&P500 index chart's trading range pattern. Flow of Funds...
Good morning, traders. Bitcoin has found itself having trouble moving up. Watching the order books, price action, and volume it appears that price is being contained. With CBOE Bitcoin futures expiring tomorrow, it wouldn't surprise me if we saw a sudden move up within the next 24 hours. But we don't trade on guesses or opinion, only on the chart. So, for now, I...
Good morning, traders. Over the weekend Bitcoin dropped a bit more to a low of $6269.46 but held the general low from Friday which means it remained above the swing low of October 31st. The bounce off that drop targeted the 4H pivot, retreated to the equilibrium of the large trading range we've been in since the beginning of September, and is targeting the 4H...
Good morning, traders. It looks like Bitcoin may be completing the recent corrective move now as it finds support around the bottom of the blue TR/4H pivot/equilibrium of the black TR as I mentioned the past few days during our morning live stream that I was watching for it to do. This is also the 61.8% retracement of that move up from 10/31. These two movements...
Disney reports earnings today. The chart has been in a bottoming formation since April of 2018 as this company had a business contraction in 2015. The stock is below its all-time high. The bottom is on the short term within a Trading Range of 30-point dimension. Weekly Chart of DIS shows the trading range. The stock is postured to attempt a breakout of the trading...
Good morning, traders. Overnight, we saw Bitcoin fall through the bottom of the impromptu descending channel that I had drawn early in the day, but price found support at the bottom of the ascending channel that it has been in since 10/31. This same point is the horizontal support based off the previous 15 minute TR from 11/4-11/6. I have redrawn the descending...
Good morning, traders. Bitcoin has continued to move as suggested it would. As expected, yesterday's move up reached the top of the ascending channel I discussed during the morning's live stream. Overnight, the 15 minute RSI has had a good reset and MACD has just crossed bullishly. Price appears to be printing a flag, and a breach of that flag in the near term...
Good morning, traders. It looks like we've got things fixed on my end so I should be back without interruption now. Since the last time I posted, price has continued to move as I outlined that it was likely to do, having reached the top of the blue TR and then retraced a bit within it to print an LPS. Price topped out at $6475 which was just above the flag target...
Good morning, traders. Price moved up as expected since yesterday's update and live stream, and found initial resistance at my dashed black line just above the double bottom target. This is also the 1D pivot. In terms of the local TR from yesterday, the move up was the SOS and it pulled price into the 4H blue TR. After consolidation, we should expect to see...
Good morning, traders. The Internet is, once again, anything but stable this morning so there won't be a live stream but I will record a video and upload it as soon as the connection is stable enough to do so. Tech comes tomorrow so by Monday we should be good to go. During yesterday morning's live stream, we witnessed price doing what I suggested it would. The...
Good morning, traders. I am still dealing with technical issues with our Internet service provider this morning and will most likely not be able to stream until the tech gets here later this week. I will attempt to record and upload daily videos if possible until it is fixed. After yesterday's move, price has continued doing what it has done best for the past few...
I know im not using the correct terms, its only some analogies used to see the 'fair' price equilibrium theory in practice
Good morning, traders. Overnight we saw Bitcoin return to fill the gap as mentioned it would do yesterday. But, in doing so, price has moved below the black ascending channel that was in the process of printing so I have removed it. More 15 minute gaps were created on the move down so we can expect price to fill them as well now. We also saw a large spike in...
Good morning, traders. Price has been trading within this local TR for the past three days now. On the bright side, we have seen consistent higher lows during this time. The CBOE expiration yesterday didn't lead to much of anything - a $34 drop about an hour prior and then a subsequent rise of $78 into the evening. Demand remains prevalent at this time as the...
Good spot to long $CHK if you are a Wyckoff student. This accumulation trading range has produced significant cause with conservative projected target of $24. 9 buying tests: 1. Downside price objective accomplished? Yes 2. Preliminary support, selling climax, secondary test? Yes 3. Activity bullish (volume increases on rallies and decreases on reactions)?...
Good morning, traders. Bitcoin's range continues to tighten as traders become restless. Don't allow this lack of price action push you into making an emotional decision. If you are actively trading at this time, then you should already have a plan in place. And if you have a plan, then you shouldn't allow emotions to change it. Currently, we can see price...