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Bycote

I went long on $NUGT after the test of key support today. I always keep my trading simple and this is as simple as it gets. I am recommending traders buy the gold miners above key support with a tight stop loss and a target near the upper resistance of the 2017 trading range.

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Here I take a quick look at the 500% rally in Bitcoin price in 2011-2013 to see what we can learn about how this market has corrected in the past after making huge gains. We can spot a few key characteristics and levels. In my next post, I will apply this analysis to the 2017 rally and see what we might expect from the current correction.

Bycote Updated 

BTCUSD retraced 50% of its all-time gains on January 17. The same trading day saw BTCUSD retrace 61.8% of gains since November 17 as well as a test of the 144 day EMA, which has acted as dynamic support going all the way back to October 2015. These are signs of a healthy correction and indicate the up trend in BTCUSD is in tact. My limit orders filled at 10k,...

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Here I apply some simple trend analysis from the 2011-2013 500% rally and subsequent correction in Bitcoin price to the 2017 rally and current correction. I make the case that traders should be very cautious at current levels and that we can expect a correction to 4300 before another significant rally.

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I've got my eye on a potential swing trade setup in semiconductors.

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India is bouncing at a key market level today. Aggressive traders can get long immediately. Patient traders can watch for a signal next week. These emerging markets gap a lot and often leave traders wondering what is happening. Trend analysis and risk management makes our life a lot easier here.

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I've made a lot of money in the powerful bullish market in Korea. This trade set up is very simple. If we see a bounce from current levels within the upward channel early next week, then I will get long.

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I'm taking another long swing trade in oil in line with the powerful up-trend in this market. We may look to add on further price retracements toward our stop, but we will not take on more risk by lowering our stop.

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Utilities have taken a major hit in the risk-on market environment we've seen lately. Last week $XLU completed a perfect 61.8% retracement of recent gains and showed a strong bounce at that key support level. I think we have an excellent buy for a swing trade at this level with a view to hold patiently for 1-3 months and take profit at all time highs.