ELM_Trading_NYC

ELM_Trading_NYC

In this chart we are trying to find a LONG opportunity. A way to find a possible scalp or pivot point is to look for where bottom or top of trends align with horizontal support & FIB levels like 0.382, 0.5 & 0.618. When trading I give horizontal support with the most respect followed by the FIB's 0.618 being the strongest. I do not trade diagonal trend support...

ELM_Trading_NYC

in this daily chart we see the RSI being formed today very closely resembles the RSI pattern printed before BITCOINS last pump. on top of the bullish RSI fractal we also have the "hidden bullish divergence" still in play between the same fractal patterns i think this chart speaks for itself. not much more to say follow for more @brooklynkid436

ELM_Trading_NYC

This chart is looking at bitcoin from a purely trading aspect taking away indicators and just focusing on the price action. first we establish the overall high and low in the range (in yellow) next we establish the current price trend over the last few days (in red) we can see bitcoin has recently broken out of smaller consolidation pattern (in white) and...

ELM_Trading_NYC

On this daily timeframe we see the hidden bullish divergence continue to playout all the way to weekly time frames (not shown) for those unaware or unsure hidden bullish divergence is when price makes a higher low and RSI makes a lower low. a regular bullish divergence would be price making a lower low and RSI making a higher low. for an example see my last post...

ELM_Trading_NYC

In this chart we use the RSI on Daily TF to review bullish divergences in the BITCOIN price action compared to RSI readings. starting with the Summer 2021 Bear market. you can see we had a high volatility drop in price which in turn sent the daily RSI to a rather oversold reading. as the days went on from that initial price drop we trended lower however the RSI...

ELM_Trading_NYC

Trading is difficult. it takes patience. the key to a successful trade is planning. in this chart we do away with diagonal trend lines . all we are looking at is the horizontal support and resistances. to keep trading simple you have a thesis, stick to it and execute on it. you breakout from either support or resistance that will be your signal to begin to watch...

ELM_Trading_NYC

been gone for a while might just ease back into this. see my older analysis were on the MONEY! stop getting REKT and follow me !!! we have good support with volume on the trend lines (rising wedge). i think with the MACD still below Zero and the RSI climbing we can see another retest to the top of the wedge. well see what plays out follow for leveraged trades...

ELM_Trading_NYC

most bullish price target i can find support trend line runs from bottom of corona dump while the resistance from the ATH down. we have just broken out of the symmetrical triangle to the upside. the measured move is 80K! fingers crossed

ELM_Trading_NYC

cup and handle is the bullish thing i can find on a bitcoin chart. goodluck

ELM_Trading_NYC Updated 

W pattern forming on 4H this chart has some of my favorite indictors ICHIMOKU, RSI & MACZ here is an example of i how combine them to provide some insight on price action. the larger the time from the more accurate and powerful. i use 4h as my baseline these are free indy's on TV.

ELM_Trading_NYC

i see a cup and handle on the 4h how about you? two ways to play this one. 1) break and close above neck line 2) break of neck line with retest of neckline as support <~ best practice confirmations are important.

ELM_Trading_NYC Updated 

confirmation are important. strong volume and 1h (4h better) close above the local high. gamblers go go go LONG now :) good luck

ELM_Trading_NYC

confirmations are important. long with 1h close and above avg volume . gamblers go LONG now...

ELM_Trading_NYC

falling wedge bullish breakout.. confirmations matter. gamblers go long at retest of the wedge as support .

ELM_Trading_NYC

possible W pattern (double bottom) on 1h. wait for break with volume , retest of neck acting as support and then bounce off neckline with above average volume and LONG once we go above the breakout high. gamblers go LONG now goodluck

ELM_Trading_NYC

W pattern breakout . wait for confirmation signal.. volume supported break of neck line then volume supported retest and bounce off neckline as support + price going above the breakout level. signals are important gamblers can go long now! set stop losses

ELM_Trading_NYC

side by side here. 1h and 4h. for the risk oriented . possible double bottom can lead to huge W pattern breakout to 62K!! on the 4h we are in an ascending broadening wedge breaks bearish 52% of the time as per thepatternsite.com learn more at thepatternsite.com

ELM_Trading_NYC

need to hold support of doubke bottom break out or trade invalidates