Hi guys another beautiful set-up for “color options” traders, Elliott wave and steep channel all in one. In other words, we have two indicators confirming bearish bias in the short term. I will enter short trade when red candle closes bellow channel’s support line or if green candle closes above resistance line (since it will most likely be a fake break upwards)....
After rejection at the resistance level, it looks to me like the price is finding it's way to the 265 region before bouncing off the trendline.
Placed my limit order and watching this trade closely for now.
Let's see :)
The daily timeframe does not give us enough information, and that's why I offer to look at the 4H chart.
The price broke the local uptrend line. It gave us a bearish signal and a possible trend reversal. The price reached SMA100 and bounced. We got a new swing low higher than the previous one. If we add two previous swing highs, which are at the same level and...
It's very important to zoom out and take a step back into the daily and weekly timeframes every couple days. The way this triangle is forming it's starting to look like a continuation pattern to the upside. My elliot wave count in yellow shows my new primary count for now. We see that the wave 3 has retraced to the very technical 38% fibonacci level. That along...
Good afternoon, dear traders! In general, the situation has not changed since yesterday. Although Ethereum at the moment looks a little better than Bitcoin, do not forget that in case of a fall, a weak level of support may not keep it because there were no large volumes in that area. And we can go much lower ...
In general, my opinion has not changed. Refrain...
This is likely the last bout of downward pressure before we begin to go up exponentially in the month of March, 2020. It's POSSIBLE they could take it up a bit first (bull trap) just before slamming it down between $223.79 to $242.79. This coming "estimated" move down is NOT GUARANTEED. This is only my opinion based on my observation.
We are waiting for a break-out to happen. Holding a short position now based on Takashi Bows Autopilot.
After 9 days of consolidation. We notice RSI funneling, which happens before the market can trend upwards or downwards.
Expecting market to move in the next 2 days.
Take Profit: 60%
Stop-Loss: on next Buy signal.
--
Takashi Bows Autopilot is our ultimate...
It was cool! The upward movement to 280.00 allowed us to make a good profit. But what's next?
If you skipped buy opportunities based on reversal and breakout signals below 200.00, now you need to think about how to join the uptrend. The market is bullish, and buying is logical in this market. But how to do it properly?
The price reached the resistance zone. We...
I'll post a lower time frame chart in a few minutes to show the near term downward pressure approaching before we resume our upward pressure once again. I'm labeling this a LONG position for the MID TO LONG TERM. The chart to follow in a few minutes will show the downward pressure for the near to short term. I'm leaning more towards the Aqua box and possibly...
